CAMDEN ASSET MANAGEMENT L P CA
Q1 2025 Form 13-F

LOS ANGELES, CALIFORNIA
CIK 0000903944 · CRD 106772 · SEC-registered investment adviser
$3.7B Reported Value Total

CAMDEN ASSET MANAGEMENT reports 19 total accounts under management (AUM). There are 19 discretionary accounts valued at $8,791,878,994, and 0 non-discretionary accounts.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Firm Brochure (Part 2A)
Private funds (Form ADV)
19 funds · $7.9B gross asset value
Hedge Fund: $7.9B
Source: Form ADV filed 2026-06-23
Reported value
$3.7B
Quarter over quarter
+1.4%
Holdings
8
Top-10 concentration
33.7%

Key People

Form ADV owners & control persons
John Breese Wagner
PRESIDENT
Scott Reed Lange
CO-CIO, PARTNER, PORTFOLIO MANAGER
David Everett Lindberg
PARTNER, PORTFOLIO MANAGER
Q4 2024
Q2 2025
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q1 2025 13F filing summary

Period of report March 31, 2025
Filed May 14, 2025
Form 13F-HR
Reported value $3.7B
Positions 8
Change in reported value -1.4%
New positions 10
Exited positions 9
Position turnover 111.8%
Top-10 concentration 33.7%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 12, 2026
 14 $3.4B
Q1 2026 13F
Filed May 14, 2026
 10 $2.9B
Q4 2025 13F
Filed Feb 13, 2026
 7 $4.0B
Q3 2025 13F
Filed Nov 13, 2025
 7 $4.5B
Q2 2025 13F
Filed Aug 13, 2025
 9 $4.3B
Q1 2025 13F
Filed May 14, 2025
 8 $3.7B
Q4 2024 13F
Filed Feb 13, 2025
 7 $3.8B
Q3 2024 13F
Filed Nov 13, 2024
 8 $3.8B
Q2 2024 13F
Filed Aug 13, 2024
 8 $3.3B
Q1 2024 13F
Filed May 14, 2024
 7 $2.7B
Q4 2023 13F
Filed Feb 13, 2024
 7 $3.2B
Q3 2023 13F
Filed Nov 13, 2023
 7 $2.7B
Q2 2023 13F
Filed Aug 11, 2023
 7 $2.9B
Q1 2023 13F
Filed May 12, 2023
 10 $3.0B
Q4 2022 13F
Filed Feb 13, 2023
 13 $3.1B
Q3 2022 13F
Filed Nov 10, 2022
 11 $3.0B
Q2 2022 13F
Filed Aug 11, 2022
 12 $3.2B
Q1 2022 13F
Filed May 13, 2022
 12 $3.4B
Q4 2021 13F
Filed Feb 11, 2022
 11 $2.7B
Q3 2021 13F
Filed Nov 12, 2021
 8 $2.5B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2025

# Holding Reported value % of portfolio
1 NEE 3 03/01/27 NEXTERA ENERGY CAP HLDGS INC NOTE 3.000PERCENT 3/0 $216.7M 5.8%
2 F 0 03/15/26 FORD MTR CO NOTE 3/1 $179.6M 4.8%
3 ABNB 0 03/15/26 AIRBNB INC NOTE 3/1 $159.9M 4.28%
4 EVRG 4.5 12/15/27 EVERGY INC NOTE 4.500PERCENT12/1 $144.6M 3.87%
5 DUK 4.125 04/15/26 DUKE ENERGY CORP NEW NOTE 4.125PERCENT 4/1 $107.1M 2.86%
6 VTR 3.75 06/01/26 VENTAS RLTY LTD PARTNERSHIP NOTE 3.750PERCENT 6/0 $98.7M 2.64%
7 BACPRL BANK AMERICA CORP 7.25PERCENTCNV PFD L $94.0M 2.51%
8 PPL 2.875 03/15/28 PPL CAP FDG INC NOTE 2.875PERCENT 3/1 $91.6M 2.45%
9 NEEPRR NEXTERA ENERGY INC UNIT 09/01/2025 $84.6M 2.26%
10 SPOT 0 03/15/26 SPOTIFY USA INC NOTE 3/1 $84.3M 2.25%
11 UBER 0 12/15/25 UBER TECHNOLOGIES INC NOTE 12/1 $83.5M 2.23%
12 SHOPCN 0.125 11/01/25 SHOPIFY INC NOTE 0.125PERCENT11/0 $79.1M 2.12%
13 IONS 1.75 06/15/28 IONIS PHARMACEUTICALS INC NOTE 1.750PERCENT 6/1 $74.3M 1.99%
14 EXPE 0 02/15/26 EXPEDIA GROUP INC NOTE 2/1 $73.8M 1.97%
15 UPWK 0.25 08/15/26 UPWORK INC NOTE 0.250PERCENT 8/1 $68.0M 1.82%
16 HALO 1 08/15/28 HALOZYME THERAPEUTICS INC NOTE 1.000PERCENT 8/1 $61.3M 1.64%
17 UBER 0.875 12/01/28 2028 UBER TECHNOLOGIES INC NOTE 0.875PERCENT12/0 $60.5M 1.62%
18 AWK 3.625 06/15/26 AMERICAN WTR CAP CORP NOTE 3.625PERCENT 6/1 $59.4M 1.59%
19 DXCM 0.375 05/15/28 DEXCOM INC NOTE 0.375PERCENT 5/1 $58.1M 1.55%
20 DAY 0.25 03/15/26 DAYFORCE INC NOTE 0.250PERCENT 3/1 $56.2M 1.5%

Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.

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