CAMDEN ASSET MANAGEMENT L P /CA
13F-HR, 2000-07-31
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Form 13F
Form 13F Cover Page

Report for the Calendar Year or Quarter Ended: June 30, 2000

Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
					[ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:		Camden Asset Management, L.P.
Address:	2049 Century Park East, Suite 330
		Los Angeles, CA  90067

13F File Number: 28-3694
<TABLE>
                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
ARV ASSISTED LIVING COM        COM              00204c107       81    80700 SH       SOLE                                      80700
ASCENT ASSURANCE INC COM       COM              04362n103       36    11467 SH       SOLE                                      11467
BESTFOODS COM                  COM              08658u101     8448   122000 SH       SOLE                                     122000
CALIFORNIA FED BK FSB 2ND CONT COM              130209703        7    10000 SH       SOLE                                      10000
COLUMBIA ENERGY GROUP INC COM  COM              197648108     5906    90000 SH       SOLE                                      90000
EASTERN ENTERPRISES COM        COM              27637f100     3055    48500 SH       SOLE                                      48500
EXIDE CORP COM                 COM              302051107      360    45000 SH       SOLE                                      45000
GOLDEN BOOKS FAMILY ENTMT INC  COM              380804203       19    22770 SH       SOLE                                      22770
GTE CORP COM                   COM              362320103    16328   262300 SH       SOLE                                     262300
INTERMEDIA COMMUNICATIONS INC  COM              458801974      241     8092 SH       SOLE                                       8092
MAPQUEST COM INC COM           COM              565644101     3074   185600 SH       SOLE                                     185600
MEDIAONE GROUP INC COM         COM              58440j104    32859   493200 SH       SOLE                                     493200
MERCURY INTERACTIVE CP COM     COM              589405109      310     3200 SH       SOLE                                       3200
MICHAELS STORES INC COM        COM              594087108      723    15773 SH       SOLE                                      15773
NORTH AMERICAN VACCINE INC COM COM              657201109      616    77000 SH       SOLE                                      77000
QWEST COMMUNICATIONS INTL INC  COM              749121109      860    17300 SH       SOLE                                      17300
REYNOLDS R J TOB HLDGS COM     COM              76182k105     1145    41000 SH       SOLE                                      41000
SAVOIR TECHNOLOGY GROUP INC NE COM              xx9384243      270    33696 SH       SOLE                                      33696
SEAGATE TECHNOLOGY COM         COM              811804103    38071   692200 SH       SOLE                                     692200
SEMI-TECH CORP CL A            COM              81662e108        1  1024400 SH       SOLE                                    1024400
SENSORMATIC ELECTRONICS CORP 1 COM              817265606     2862   181013 SH       SOLE                                     181013
TELE SUDESTE CELULAR SPON ADR  COM              879252104      930    20000 SH       SOLE                                      20000
TELECOMUNICACOES DE SAO PAULO  COM              87929a102     7897   285100 SH       SOLE                                     285100
TELEFONICA DE ARGENTINA SPON A COM              879378206    11997   337000 SH       SOLE                                     337000
TELEFONICA DEL PERU SA SPON AD COM              879384105      309    20000 SH       SOLE                                      20000
THERMO FIBERGEN INC COM        COM              88355U109     1519   124000 SH       SOLE                                     124000
TPI ENTERPRISES INC COM        COM              872623103        6    65000 SH       SOLE                                      65000
U S WEST INC COM               COM              91273h101    26951   314300 SH       SOLE                                     314300
UNAPIX ENTERTAINMENT INC COM ( COM              xx9303928       10   104880 SH       SOLE                                     104880
VERIO INC COM                  COM              923433106     3817    68800 SH       SOLE                                      68800
ADELPHIA COMMUNICATIONS INC CV PFD CV           006848402    35960   232000 SH       SOLE                                     232000
ALLIANT ENERGY RES INC EXCH SR PFD CV           018803205     9831   143000 SH       SOLE                                     143000
AMERICAN CLASSIC VOYAGES CAP T PFD CV           001648203     4258   102000 SH       SOLE                                     102000
AVADO FING I TERM CV A $3.5    PFD CV           05336q205     3094   154720 SH       SOLE                                     154720
BELCO OIL & GAS CORP PFD CONV  PFD CV           077410207     2805   191800 SH       SOLE                                     191800
BETHLEHEM STEEL CORP CV PFD 14 PFD CV           087509501     9038   410800 SH       SOLE                                     410800
BIOVAIL CORP CV PFD (REG)      PFD CV           09067j208    30602   565400 SH       SOLE                                     565400
CANADIAN NATIONAL RAILWAY CO C PFD CV           136375409     2639    58000 SH       SOLE                                      58000
CAREMARK RX CAP TRUST I 144A   PFD CV           14170k209     6625   125000 SH       SOLE                                     125000
CELLNET FUNDING LLC CV PFD     PFD CV           150945202       40    25000 SH       SOLE                                      25000
CENTRAL PARKING FIN TR CV PFD  PFD CV           154787303     6615   490000 SH       SOLE                                     490000
CENTRAL PARKING FIN TR CV PFD  PFD CV           154787204     3307   245000 SH       SOLE                                     245000
CHIQUITA BRANDS CV PFD SER A   PFD CV           170032403     6863   490250 SH       SOLE                                     490250
CHIQUITA BRANDS INTL PFD NV CV PFD CV           170032502     4773   247150 SH       SOLE                                     247150
CMS ENERGY TR I QUIOS 7.75%    PFD CV           12589r203     6650   175000 SH       SOLE                                     175000
COMCAST CORP CV SUB DEB (ZONES PFD CV           200300606     7080    60000 SH       SOLE                                      60000
CRESCENT REAL EST PPTYS 6.750% PFD CV           225756204    13508   864500 SH       SOLE                                     864500
DECS TR III DECS EX B HERBALIF PFD CV           243665205     1380   160000 SH       SOLE                                     160000
FEDERAL-MOGUL FIN TR CV PFD SE PFD CV           313552408    12100   550000 SH       SOLE                                     550000
FLEETWOOD CAP TR CV PFD TR 6%  PFD CV           339072407    13278   455900 SH       SOLE                                     455900
FREEPORT MC MORAN CV PFD       PFD CV           35671d501     1997   150000 SH       SOLE                                     150000
FRONTIER FIN TR CORP CONV PFD  PFD CV           35907u301     7528   941010 SH       SOLE                                     941010
GENERAL DATACOMM INDS INC CV P PFD CV           369487202     4464   279000 SH       SOLE                                     279000
GENERAL GROWTH PPTYS 7.25% CV  PFD CV           370021206    14918   685900 SH       SOLE                                     685900
GENEVA STEEL CO PFD B EXCH 14% PFD CV           372252403      450    22500 SH       SOLE                                      22500
GLOBAL CROSSING LTD CV PFD (14 PFD CV           37932j301    15790    87000 SH       SOLE                                      87000
GLOBAL TELESYSTEMS GRP CV PFD  PFD CV           37936u609     5562   250000 SH       SOLE                                     250000
GLOBALSTAR TELECOMM LTD 9% CV  PFD CV           379364870     1250    62500 SH       SOLE                                      62500
HERCULES INC CV PFD TR II (REG PFD CV           427098306    13750    25000 SH       SOLE                                      25000
HYBRIDON INC. SER A CV PFD (RE PFD CV           44860m884     1925    38496 SH       SOLE                                      38496
K MART FINANCING 1 TRUST CV PF PFD CV           498778208    11904   326700 SH       SOLE                                     326700
KAUFMAN & BROAD HOME CV PFD (P PFD CV           486168503     1235   190000 SH       SOLE                                     190000
LERNOUT & HAUSPIE CAP TR I PIE PFD CV           501608202    12474   162000 SH       SOLE                                     162000
LORAL SPACE & COMM 6% 021507 C PFD CV           543885602      890    40000 SH       SOLE                                      40000
LORAL SPACE & COMM 6.000% 11/0 PFD CV           g56462149     8588   369375 SH       SOLE                                     369375
LTV CORP NEW PFD CV SER A (144 PFD CV           501921209     3520    80000 SH       SOLE                                      80000
MANDATORY COM EXCH TR TIMES  7 PFD CV           562613109      340    68100 SH       SOLE                                      68100
MARVEL ENTERPRISES INC CV PFD  PFD CV           57383m207     1232   154040 SH       SOLE                                     154040
MCKESSON CORP FIN TR TCPS 5% ( PFD CV           58155p501     9433   267600 SH       SOLE                                     267600
MCLEODUSA INC CV PFD SER A (RE PFD CV           582266201    16853    28300 SH       SOLE                                      28300
MEDPARTNERS INC NEW TAPS 6.500 PFD CV           58503x206      706    79000 SH       SOLE                                      79000
METROMEDIA INTL GROUP PFD CONV PFD CV           591695200     1649    58900 SH       SOLE                                      58900
MGC COMMUNICATIONS INC CV PFD  PFD CV           552763500    11742   225800 SH       SOLE                                     225800
NATL AUSTRALIA BANK 7.875% CV  PFD CV           632525309    12879   454900 SH       SOLE                                     454900
NEWELL FIN TR 1 CV PFD SER (RE PFD CV           651195307    23410   616042 SH       SOLE                                     616042
OWENS & MINOR TR I GTD TRM CV  PFD CV           690905302     3570    85000 SH       SOLE                                      85000
OWENS CORNING CAP LLC CV PFD M PFD CV           690733209    28391  1051504 SH       SOLE                                    1051504
OWENS ILLINOIS INC CV PFD      PFD CV           690768502     9325   419100 SH       SOLE                                     419100
PEAK TRENDS TR TRENDS PEAKF    PFD CV           70468n107     3815   545000 SH       SOLE                                     545000
PEGASUS COMM CORP CV PFD (144A PFD CV           705904407    13440   140000 SH       SOLE                                     140000
PIONEER STANDARD FINL TR CV PF PFD CV           723879300     4414    82500 SH       SOLE                                      82500
PSINET INC CV PFD 7.000% SER 1 PFD CV           74437c408    28357   837100 SH       SOLE                                     837100
RECKSON ASSOCS REALTY CV PFD S PFD CV           75621k205    10193   459400 SH       SOLE                                     459400
RSL COMMUNICATIONS LTD CV PFD  PFD CV           74972q200     2760    83000 SH       SOLE                                      83000
SAVOIR TECH GRP INC SER A CV P PFD CV           xx9303821     1400    70000 SH       SOLE                                      70000
SENSORMATIC ELECT 6.50% CORP C PFD CV           817265200    14800   619900 SH       SOLE                                     619900
SL GREEN REALTY CORP CV PFD (P PFD CV           78440x200     6229   220000 SH       SOLE                                     220000
SOVEREIGN CAP TR II CV PFD (PI PFD CV           845905306    22151   452070 SH       SOLE                                     452070
SUIZA CAP TRUST II 5.50% TR CV PFD CV           86507g408    33688   842200 SH       SOLE                                     842200
SUN HEALTHCARE GROUP FING I PF PFD CV           866749203      105  1047600 SH       SOLE                                    1047600
SUPERIOR TR I PFD CV 8.50%     PFD CV           86836p202     4779   179489 SH       SOLE                                     179489
TEXAS INDUSTRIES INC CAP TR I  PFD CV           873119200      744    25000 SH       SOLE                                      25000
TIMET CAP TR I PFD CONV 144A   PFD CV           887381200      560    44800 SH       SOLE                                      44800
TIMET CAP TR I PFD CONV 6.625% PFD CV           887381408    11601   928107 SH       SOLE                                     928107
TOWER AUTOMOTIVE INC CV PFD (R PFD CV           891706301     9415   297700 SH       SOLE                                     297700
TRIBUNE CO CV PFD NEW DECS 6.2 PFD CV           896047206      438    26125 SH       SOLE                                      26125
U.S. RESTAURANT PROPERTIES CV  PFD CV           902971209      397    40000 SH       SOLE                                      40000
UNITED RENTALS INC CV PFD TR 1 PFD CV           91136h306     3915   145000 SH       SOLE                                     145000
UNITED RENTALS INC CV PFD TR 1 PFD CV           91136h207     5400   200000 SH       SOLE                                     200000
UNITEDGLOBALCOM CUM CV PFD SER PFD CV           913247201     3006    50000 SH       SOLE                                      50000
USX CAP TR I QUIPS 6.75% REG   PFD CV           90339e201     2494    74600 SH       SOLE                                      74600
VANSTAR FINANCING TR CV PFD TR PFD CV           92208q307      661   660650 SH       SOLE                                     660650
VERIO INC CV PFD SER A (REG)   PFD CV           923433502    18000   300000 SH       SOLE                                     300000
VIATEL INC FINANCING TR I CV P PFD CV           92553a204     5347   145000 SH       SOLE                                     145000
WESTERN GAS RES INC CV PFD SER PFD CV           958259301     6165   181000 SH       SOLE                                     181000
WHX CORP CV PFD SER A          PFD CV           929248201     3233   149500 SH       SOLE                                     149500
WINSTAR COMM INC 7.25% CV PFD  PFD CV           975515867     9281     9281 SH       SOLE                                       9281
ACCLAIM ENTMT INC COM PAR $0.0 COM              004325205    -2780 -1934200 SH       SOLE                                   -1934200
ACT MANUFACTURING INC COM      COM              000973107   -14721  -317000 SH       SOLE                                    -317000
ACTION PERFORMANCE COS INC COM COM              004933107     -838  -115600 SH       SOLE                                    -115600
ADELPHIA COMMUNICATIONS COM    COM              006848105   -20095  -428700 SH       SOLE                                    -428700
AFFILIATED COMPUTER SVCS CL-A  COM              008190100    -8643  -261400 SH       SOLE                                    -261400
AFFYMETRIX INC COM             COM              00826t108    -1932   -11700 SH       SOLE                                     -11700
AKAMAI TECHNOLOGIES INC COM    COM              00971t101   -14652  -123400 SH       SOLE                                    -123400
ALEXION PHARMACEUTICALS INC CO COM              015351109    -3432   -48000 SH       SOLE                                     -48000
ALLIED RISER COMMUNICATIONS CO COM              019496108    -8574  -607000 SH       SOLE                                    -607000
ALTERRA HEALTHCARE CORP COM    COM              02146c104    -1728  -863800 SH       SOLE                                    -863800
AMAZON.COM INC COM             COM              023135106   -18240  -502300 SH       SOLE                                    -502300
AMERICA ONLINE INC DEL COM     COM              02364j104    -3087   -58600 SH       SOLE                                     -58600
AMERICAN CLASSIC VOYAGES CO CO COM              024928103    -2564  -124300 SH       SOLE                                    -124300
AMERICAN PACIFIC CORP COM      COM              028740108     -556   -98900 SH       SOLE                                     -98900
AMERICAN RETIREMENT CORP COM   COM              028913101     -942  -169350 SH       SOLE                                    -169350
AMERITRADE HLDG CORP CL-A COM  COM              03072h109    -6161  -530000 SH       SOLE                                    -530000
ANN TAYLOR STORES INC COM      COM              036115103    -8255  -249200 SH       SOLE                                    -249200
ASAHI GLASS CO LTD             COM              jp3112000    -7968  -714000 SH       SOLE                                    -714000
ASPEN TECHNOLOGY INC COM       COM              045327103    -1036   -26900 SH       SOLE                                     -26900
AT HOME CORP COM SER A         COM              045919107    -3683  -177500 SH       SOLE                                    -177500
AT&T CORP COM                  COM              001957109   -13521  -427540 SH       SOLE                                    -427540
ATRIX LABS INC COM             COM              04962l101    -1382  -147400 SH       SOLE                                    -147400
AVADO BRANDS INC COM           COM              05336p108     -457  -304700 SH       SOLE                                    -304700
AVIRON CORP COM                COM              053762100   -22653  -733700 SH       SOLE                                    -733700
BAKER J INC COM                COM              057232100     -623  -107225 SH       SOLE                                    -107225
BANKATLANTIC BANCORP CL A      COM              065908501     -286   -76312 SH       SOLE                                     -76312
BAXTER INTERNATIONAL INC COM   COM              071813109     -492    -7000 SH       SOLE                                      -7000
BELCO OIL & GAS CORP COM       COM              077410108    -1037  -122050 SH       SOLE                                    -122050
BENCHMARK ELECTRONICS INC COM  COM              08160h101    -3547   -97000 SH       SOLE                                     -97000
BETHLEHEM STEEL CORP COM       COM              087509105    -1697  -476300 SH       SOLE                                    -476300
BIOVAIL CORP COM               COM              09067j109   -21388  -385800 SH       SOLE                                    -385800
BRIGHTPOINT INC COM            COM              109473108     -686   -79200 SH       SOLE                                     -79200
CABLE & WIRE PLC ORD SH        COM              gb0001625   -11367  -678629 SH       SOLE                                    -678629
CABLE & WIRELESS COMM SPONSORE COM              12682P104    -3441   -49300 SH       SOLE                                     -49300
CABLE & WIRELESS PLC SPON ADR  COM              126830207   -20075  -401000 SH       SOLE                                    -401000
CANADIAN NATIONAL RAILWAY CO C COM              136375102    -1652   -56600 SH       SOLE                                     -56600
CAREMARK RX INC COM            COM              141705103    -4974  -730100 SH       SOLE                                    -730100
CENTRAL GARDEN & PET CO COM    COM              153527106     -808   -90100 SH       SOLE                                     -90100
CENTRAL PARKING CORP (symbol c COM              154785109    -5541  -233900 SH       SOLE                                    -233900
CHARMING SHOPPES INC COM       COM              161133103     -311   -61100 SH       SOLE                                     -61100
CHECKFREE HOLDINGS CORP COM    COM              162816102    -1098   -21300 SH       SOLE                                     -21300
CHECKPOINT SYSTEMS INC COM     COM              162825103    -7910 -1054700 SH       SOLE                                   -1054700
CHIQUITA BRANDS INTL COM       COM              170032106    -4473 -1136020 SH       SOLE                                   -1136020
CLEAR CHANNEL COMMUNICATIONS I COM              184502102   -50121  -668274 SH       SOLE                                    -668274
CMS ENERGY CORP COM            COM              125896100    -2212  -100000 SH       SOLE                                    -100000
CNET NETWORKS INC COM          COM              12613R104    -6553  -266800 SH       SOLE                                    -266800
COEUR D ALENE MINES ID COM     COM              192108108     -953  -391150 SH       SOLE                                    -391150
COR THERAPEUTICS INC COM       COM              217753102   -10195  -119500 SH       SOLE                                    -119500
CORECOMM LIMITED COM           COM              g2422r109    -5284  -271000 SH       SOLE                                    -271000
CRESCENT REAL ESTATE COM       COM              225756105    -6156  -300300 SH       SOLE                                    -300300
CURAGEN CORP COM               COM              23126r101    -1846   -48500 SH       SOLE                                     -48500
CV THERAPEUTICS INC COM        COM              126667104    -1962   -28300 SH       SOLE                                     -28300
DENSO CORPORATION              COM              jp3551500    -3695  -152000 SH       SOLE                                    -152000
DIAMOND OFFSHORE DRILLING INC  COM              25271C102    -2965   -84400 SH       SOLE                                     -84400
E SPIRE COMMUNICATIONS INC     COM              269153102     -973  -144100 SH       SOLE                                    -144100
E*TRADE GROUP INC COM          COM              269246104    -4194  -254200 SH       SOLE                                    -254200
EARTHWEB INC COM               COM              27032c108     -420   -30000 SH       SOLE                                     -30000
EBARA CORPORATION COM          COM              jp3166000    -2288  -169000 SH       SOLE                                    -169000
ECHOSTAR COMMUNICATIONS NEW CL COM              278762109   -16942  -511700 SH       SOLE                                    -511700
ELAN CORP PLC ADR              COM              284131208   -15718  -324500 SH       SOLE                                    -324500
EMCOR GROUP INC COM            COM              29084q100    -1296   -55900 SH       SOLE                                     -55900
EMERITUS CORP COM              COM              291005106    -1576  -475800 SH       SOLE                                    -475800
FEDERAL MOGUL CORP COM         COM              313549107    -3399  -355400 SH       SOLE                                    -355400
FEDERATED DEPT STORES COM      COM              31410h101    -3476  -103000 SH       SOLE                                    -103000
FINANCIAL FEDERAL CORP COM     COM              317492106    -3289  -189300 SH       SOLE                                    -189300
FLEETWOOD ENTERPRISES COM      COM              339099103    -3614  -253600 SH       SOLE                                    -253600
FOUR SEASONS HOTEL INC LTD VTG COM              35100e104    -5477   -87800 SH       SOLE                                     -87800
FREEPORT-MC MORAN COPPER & GOL COM              35671d105     -568   -62200 SH       SOLE                                     -62200
FRONTIER INSURANCE GROUP INC N COM              359081106     -705 -1127600 SH       SOLE                                   -1127600
GENERAL DATACOMM INDS COM      COM              369487103    -2528  -417000 SH       SOLE                                    -417000
GENERAL ELEC CO COM            COM              369604103    -4346   -82000 SH       SOLE                                     -82000
GENERAL GROWTH PPTYS COM       COM              370021107    -8644  -272250 SH       SOLE                                    -272250
GENERAL SEMICONDUCTOR INC COM  COM              370787103    -8596  -582800 SH       SOLE                                    -582800
GENESCO INC                    COM              371532102    -5198  -323600 SH       SOLE                                    -323600
GENZYME CORP COM GENERAL DIVIS COM              372917104   -14402  -242300 SH       SOLE                                    -242300
GENZYME CORP COM-MOLECULAR ONC COM              372917500     -290   -20900 SH       SOLE                                     -20900
GETTY IMAGES INC COM           COM              374276103    -4318  -116500 SH       SOLE                                    -116500
GILAT SATELLITE NETWORKS LTD   COM              m51474100    -5266   -75900 SH       SOLE                                     -75900
GLOBAL CROSSING LTD COM        COM              g3921a100    -9230  -350800 SH       SOLE                                    -350800
GLOBAL MARINE INC COM          COM              379352404    -3357  -119100 SH       SOLE                                    -119100
GLOBAL TELESYS GROUP INC COM   COM              37936u104   -14280 -1183800 SH       SOLE                                   -1183800
GLOBALSTAR TELECOMM COM        COM              g3930h104    -1192  -132500 SH       SOLE                                    -132500
HERBALIFE INTL INC CL-B        COM              426908307     -737   -93600 SH       SOLE                                     -93600
HERCULES INC COM               COM              427056106    -5103  -362900 SH       SOLE                                    -362900
HEXCEL CORP NEW COM            COM              428291108    -3054  -321500 SH       SOLE                                    -321500
HITACHI LTD COM                COM              jp3788600    -9453  -656000 SH       SOLE                                    -656000
HMT TECHNOLOGY CORP            COM              403917107     -713  -465800 SH       SOLE                                    -465800
HOMEBASE INC COM               COM              43738e108    -3017 -1930700 SH       SOLE                                   -1930700
IBASIS INC COM                 COM              450732102    -5740  -133300 SH       SOLE                                    -133300
IMAX CORP COM                  COM              45245e109    -2295  -100900 SH       SOLE                                    -100900
IMCLONE SYSTEMS INC COM        COM              45245w109     -466    -6100 SH       SOLE                                      -6100
INCYTE PHARMACEUTICALS INC COM COM              45337c102    -8753  -106500 SH       SOLE                                    -106500
INTERLIANT INC COM             COM              458742103    -3457  -148300 SH       SOLE                                    -148300
INTERMEDIA COMMUNICATIONS INC  COM              458801107     -258    -8669 SH       SOLE                                      -8669
INVITROGEN CORP COM            COM              46185r100   -10476  -139300 SH       SOLE                                    -139300
ITOCHU CORPORATION COM         COM              jp3143600    -3528  -700000 SH       SOLE                                    -700000
ITRON INC COM                  COM              465741106   -10331 -1252200 SH       SOLE                                   -1252200
K MART CORP COM                COM              482584109    -4754  -697800 SH       SOLE                                    -697800
KAO CORPORATION COM            COM              jp3205800    -1191   -39000 SH       SOLE                                     -39000
KAUFMAN & BROAD HOME CORP COM  COM              486168107     -911   -46000 SH       SOLE                                     -46000
KELLSTROM INDS INC COM         COM              488035106     -918  -198500 SH       SOLE                                    -198500
LERNOUT & HAUSPIE SPEECH PROD  COM              b5628b104   -12963  -294200 SH       SOLE                                    -294200
LEVEL 3 COMMUNICATIONS INC COM COM              52729n100   -11607  -131900 SH       SOLE                                    -131900
LORAL CORP COM                 COM              G56462107    -5614  -809200 SH       SOLE                                    -809200
LTV CORP NEW COM               COM              501921100    -2271  -790000 SH       SOLE                                    -790000
LUCENT TECHNOLOGIES COM        COM              549463107    -4562   -77000 SH       SOLE                                     -77000
MAIL-WELL INC COM              COM              560321200     -345   -40000 SH       SOLE                                     -40000
MAIL.COM INC COM               COM              560311102    -5777 -1015800 SH       SOLE                                   -1015800
MARVEL ENTERPRISES INC COM     COM              57383m108     -907  -145100 SH       SOLE                                    -145100
MATSUSHITA ELECTRIC INDUSTRIAL COM              jp3866800    -3265  -126000 SH       SOLE                                    -126000
MATTEL INC COM                 COM              577081102     -314   -23820 SH       SOLE                                     -23820
MCKESSON HBOC INC COM          COM              58155q103    -5664  -270500 SH       SOLE                                    -270500
MCLEODUSA INC CL-A COM         COM              582266102   -21520 -1040223 SH       SOLE                                   -1040223
MERCURY INTERACTIVE CP COM     COM              589405109    -7779   -80400 SH       SOLE                                     -80400
METRICOM INC COM               COM              591596101    -1023   -36700 SH       SOLE                                     -36700
METROMEDIA INTL GROUP COM      COM              591695101     -735  -154800 SH       SOLE                                    -154800
MGC COMMUNICATIONS INC COM     COM              552763302    -8935  -149073 SH       SOLE                                    -149073
MITSUBISHI ELECTRIC CORP COM   COM              jp3902400    -9013  -833000 SH       SOLE                                    -833000
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JACOR COMMUNICATIONS INC WTS E WT               469858138    33754  2857500 SH       SOLE                                    2857500
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RSTK AMER PACIFIC CORP WTS UTS WT               028740983      522   389283 SH       SOLE                                     389283
SAVOIR TECH INC NEW WTS EXP 09 WT               xx9381548       35    35000 SH       SOLE                                      35000
THERMO FIBERGEN INC RTS        WT               88355u117       72   144000 SH       SOLE                                     144000
TOSHIBA CORPORATION WTS DUE 3/ WT               gb0056426     1240      500 SH       SOLE                                        500
WINSTAR COMM INC WTS EXP 02/11 WT               975515156     2156    95000 SH       SOLE                                      95000
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</TABLE>

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered intergral parts of
this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:		John B. Wagner
Title:		Managing Partner
Phone:		310-785-9755

Signature, Place and Date of Signing:

John B. Wagner, Los Angeles, CA 07/31/2000

Report Type (Check only one):

[X]	13F Holdings Report.
[   ]	13F Notice
[   ]	13F Combination Report.

List of Other Manager Reporting for this Manager:

I am signing this report as required by the Securities Exchange Act of 1934.



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