# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-002824
**Filing Date:** 2025-9
**Character Count:** 62393
**Document Hash:** e4e74ba86509c83f86c9e9e2a2bb3bc3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002824.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002824

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251348685

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Emerging Markets Local Bond Fund (Series ID: S000033934)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000104641 | Payden Emerging Markets Local Bond Fund (Investor Class) | PYELX           |
| C000236138 | Payden Emerging Markets Local Bond Fund (SI Class)       | PYILX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

**Item A.2. Information about the Series.**

- **a. Name of Series:** Payden Emerging Markets Local Bond Fund

- **b. EDGAR series identifier (if any):** S000033934

- **c. LEI of Series:** 549300ZRY78UEWJB7K76

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $100433991.25

**Total Liabilities:** $560240.04

**Net Assets:** $99873751.21

**Cash Not Reported:** $755836.74

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 35.00000000 | **5-Year:** 687.00000000 | **10-Year:** 6282.00000000 | **30-Year:** 2031.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -218.00000000 | **1-Year:** 179.00000000 | **5-Year:** 5917.00000000 | **10-Year:** 1288.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236138 | 1.59%                | 3.40%                | -1.14%               |
| Class ID C000104641 | 1.50%                | 3.54%                | -1.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $94879.77                | $636672.46                                 |
| Month 2  | $50635.32                | $2203063.53                                |
| Month 3  | $-40412.07               | $-1564327.70                               |

**Designated Index Information**

- **Index Name:** JP Morgan GBI-EM Global Diversified Index

- **Index Identifier:** JPMGBIEGDV

### Schedule of Portfolio Investments

| Name                                   | Title                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |     Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICA MOVIL SAB DE CV                | America Movil SAB de CV                             | CUSIP: 000000000<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     8110000 | PA      | $442450.34    | 0.44%             | 2029-01-22      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     4130000 | PA      | $768816.33    | 0.77%             | 2031-09-24      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |    14450000 | PA      | $2148997.07   | 2.15%             | 2032-05-15      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                  | Bonos de la Tesoreria de la Republica en pesos      | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   355000000 | PA      | $374515.56    | 0.37%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     6740000 | PA      | $1455015.60   | 1.46%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.        | SWOP CDS CDX.NA.HY.44.V1                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |     3200000 | NC      | $2917.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | HUF/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-18071.06    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     2285000 | PA      | $601694.42    | 0.60%             | 2034-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                | European Bank for Reconstruction & Development      | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | N/A       |   122000000 | PA      | $1396968.68   | 1.40%             | 2031-03-14      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     2080000 | PA      | $361619.57    | 0.36%             | 2053-04-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS INR                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $-6348.94     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    11700000 | PA      | $567707.64    | 0.57%             | 2034-04-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/ZAR FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $35782.31     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                  | Bonos de la Tesoreria de la Republica en pesos      | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  1450000000 | PA      | $1430276.42   | 1.43%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALICORP SAA                            | Alicorp SAA                                         | CUSIP: 016234AE6<br>LEI: 549300Z1XH47TTIIJS11 | Long             | DBT              | CORP              | PE        |     2011000 | PA      | $567450.18    | 0.57%             | 2032-06-16      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     6705000 | PA      | $1743126.99   | 1.75%             | 2034-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/CZK FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $30322.31     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BP6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    11111362 | PA      | $283488.40    | 0.28%             | 2045-05-16      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | KZT/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-12777.56    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | PEN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-3050.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    13640000 | PA      | $597042.34    | 0.60%             | 2047-11-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  3202100000 | PA      | $628949.24    | 0.63%             | 2031-03-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |    87000000 | PA      | $1051354.39   | 1.05%             | 2034-04-26      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 14527000000 | PA      | $887000.82    | 0.89%             | 2034-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |    10300000 | PA      | $1517277.79   | 1.52%             | 2033-08-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     9750000 | PA      | $425137.87    | 0.43%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |  2000000000 | PA      | $437439.97    | 0.44%             | 2028-05-24      | Fixed         | 6.77%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | CNH/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $6069.15      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     9500000 | PA      | $1381678.31   | 1.38%             | 2029-06-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | MYR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-12313.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | CZK/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-19929.67    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC               | COP/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |           1 | NC      | $3088.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 13305000000 | PA      | $824308.25    | 0.83%             | 2043-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/EUR FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-29707.50    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | BRL/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-50251.94    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $8909.70      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    17690000 | PA      | $561316.29    | 0.56%             | 2031-12-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/THB FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-14078.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    22410000 | PA      | $972013.72    | 0.97%             | 2035-05-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |    93000000 | PA      | $1083497.31   | 1.08%             | 2033-08-08      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | MXN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $2265.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/EUR FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $21247.84     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EMPRESAS PUBLIC MEDELLIN               | Empresas Publicas de Medellin ESP                   | CUSIP: 29246BAD0<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |  1436000000 | PA      | $317828.58    | 0.32%             | 2027-11-08      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                | Turkiye Government Bond                             | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    49980000 | PA      | $1212833.09   | 1.21%             | 2026-08-12      | Fixed         | 36.00%                | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     8000000 | PA      | $1358318.92   | 1.36%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                | Philippine Government International Bond            | CUSIP: 718286BM8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    17000000 | PA      | $285855.52    | 0.29%             | 2036-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     5700000 | PA      | $1487791.56   | 1.49%             | 2037-04-07      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/KRW FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-30988.75    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/CZK FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $1417.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | HUF/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $572.28       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    33265000 | PA      | $1517136.24   | 1.52%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIED               | Credicorp Capital Sociedad Titulizadora SA          | CUSIP: 224939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |     1770000 | PA      | $516118.20    | 0.52%             | 2045-03-05      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/MXN FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $9967.61      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    10470000 | PA      | $260088.61    | 0.26%             | 2031-05-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $-3981.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association  | USD/ZAR FORWARD                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |           1 | NC      | $19314.02     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |     7500000 | PA      | $348741.05    | 0.35%             | 2031-02-22      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                | America Movil SAB de CV                             | CUSIP: 02364WBL8<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     4730000 | PA      | $252652.63    | 0.25%             | 2031-01-27      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    15665000 | PA      | $582510.15    | 0.58%             | 2043-06-17      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.       | IRS MXN                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |           1 | NC      | $-3630.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie B            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      862302 | PA      | $134865.19    | 0.14%             | 2050-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  3733000000 | PA      | $230234.56    | 0.23%             | 2035-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     3320000 | PA      | $929359.48    | 0.93%             | 2033-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2235000 | PA      | $397774.85    | 0.40%             | 2036-04-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |    47000000 | PA      | $551640.49    | 0.55%             | 2030-10-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                   | Paraguay Government International Bond              | CUSIP: 699149AP5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  2625000000 | PA      | $337332.12    | 0.34%             | 2031-02-09      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/INR FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-35145.04    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                  | Argentine Republic Government International Bond    | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      220000 | PA      | $170695.80    | 0.17%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     5500000 | PA      | $779040.14    | 0.78%             | 2027-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 37066000000 | PA      | $2317441.56   | 2.32%             | 2033-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                | Standard Chartered Bank                             | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | Long             | DBT              | CORP              | GB        |  8600000000 | PA      | $527341.23    | 0.53%             | 2031-02-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | PEN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $4892.07      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    34500000 | PA      | $1820235.03   | 1.82%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074TR6<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    20400000 | PA      | $362054.92    | 0.36%             | 2026-03-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     1815000 | PA      | $519413.27    | 0.52%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     3000000 | PA      | $418672.44    | 0.42%             | 2025-10-22      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8511000000 | PA      | $577770.44    | 0.58%             | 2034-03-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |   140000000 | PA      | $1632674.11   | 1.63%             | 2033-04-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/COP FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $198.71       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 15966000000 | PA      | $996324.97    | 1.00%             | 2040-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | KZT/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $6289.63      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/TRY FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-1035.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    55220000 | PA      | $1711500.44   | 1.71%             | 2042-06-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    26890000 | PA      | $832195.76    | 0.83%             | 2040-04-24      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | RON/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-1684.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     4530000 | PA      | $993742.57    | 0.99%             | 2027-07-26      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | PLN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $13615.51     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | PLN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-24906.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    21500000 | PA      | $777820.89    | 0.78%             | 2038-06-17      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    10040000 | PA      | $2633455.11   | 2.64%             | 2042-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/PHP FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $11452.96     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     1310000 | PA      | $293543.14    | 0.29%             | 2026-01-28      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | IDR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-20587.09    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BANK KOREA               | Export-Import Bank of Korea                         | CUSIP: 000000000<br>LEI: 549300APVP4R32PI3Y06 | Long             | DBT              | NUSS              | KR        |     5000000 | PA      | $262761.73    | 0.26%             | 2026-07-30      | Fixed         | 7.93%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   603000000 | PA      | $131409.72    | 0.13%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  1673000000 | PA      | $372643.12    | 0.37%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                   | Paraguay Government International Bond              | CUSIP: 699149BX7<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  1250000000 | PA      | $161467.06    | 0.16%             | 2035-03-04      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                | Hungary Government Bond                             | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    29580000 | PA      | $50585.58     | 0.05%             | 2041-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/CLP FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $20839.46     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074TE5<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    34976000 | PA      | $620746.72    | 0.62%             | 2026-03-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $3127.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074XX8<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |  1709400000 | PA      | $1005513.77   | 1.01%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BL5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     4806490 | PA      | $128997.71    | 0.13%             | 2040-07-02      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    32600000 | PA      | $5306266.76   | 5.31%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | MXN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-90.14       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     4120000 | PA      | $992338.45    | 0.99%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    26200000 | PA      | $1270000.58   | 1.27%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  2622800000 | PA      | $471069.15    | 0.47%             | 2034-10-18      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074SP1<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    32420000 | PA      | $631394.60    | 0.63%             | 2025-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 13884000000 | PA      | $851349.50    | 0.85%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/PEN FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-43400.47    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MEXICAN UDIBONOS                       | Mexican Udibonos                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    19354329 | PA      | $906022.22    | 0.91%             | 2031-11-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $-9605.76     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8491000000 | PA      | $584703.24    | 0.59%             | 2039-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  5457700000 | PA      | $1027435.27   | 1.03%             | 2032-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  2790000000 | PA      | $532697.11    | 0.53%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                | America Movil SAB de CV                             | CUSIP: 000000000<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     5300000 | PA      | $289402.03    | 0.29%             | 2034-01-30      | Fixed         | 10.30%                | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    16750000 | PA      | $658907.64    | 0.66%             | 2033-10-13      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                     | Dominican Republic International Bond               | CUSIP: 25714PES3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    11950000 | PA      | $232378.63    | 0.23%             | 2033-02-03      | Fixed         | 13.62%                | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    38490000 | PA      | $1855018.07   | 1.86%             | 2033-05-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | CNH/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-5741.59     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    43480000 | PA      | $2119484.33   | 2.12%             | 2040-01-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     3200000 | PA      | $848994.72    | 0.85%             | 2038-06-08      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund | Payden Cash Reserves Money Market Fund              | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |     3128252 | NS      | $3128251.54   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/ZAR FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $2057.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                     | Morocco Government International Bond               | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |      235000 | PA      | $270592.12    | 0.27%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/BRL FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $46050.99     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 10100000000 | PA      | $686540.06    | 0.69%             | 2036-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | COP/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $55249.58     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                | Turkiye Government Bond                             | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    53725000 | PA      | $935835.70    | 0.94%             | 2028-07-19      | Fixed         | 17.30%                | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.       | IRS MXN                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |           1 | NC      | $93497.23     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     4790000 | PA      | $714435.04    | 0.72%             | 2029-05-23      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                | Hungary Government Bond                             | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   693050000 | PA      | $1955985.81   | 1.96%             | 2035-10-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                | European Bank for Reconstruction & Development      | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | N/A       |   104800000 | PA      | $1182145.32   | 1.18%             | 2036-10-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     6755000 | PA      | $2052861.91   | 2.06%             | 2033-08-12      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |    31500000 | PA      | $363015.42    | 0.36%             | 2028-04-24      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK               | European Investment Bank                            | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | N/A       |    76000000 | PA      | $910686.40    | 0.91%             | 2033-10-23      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    46820000 | PA      | $1447053.53   | 1.45%             | 2035-12-17      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| GRUPO TELEVISA SAB                     | Grupo Televisa SAB                                  | CUSIP: 000000000<br>LEI: 549300O4AF0C816ILN62 | Long             | DBT              | CORP              | MX        |     7270000 | PA      | $233495.52    | 0.23%             | 2043-05-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                      | Ghana Government International Bond                 | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      570000 | PA      | $459792.53    | 0.46%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER               | Banco de Credito del Peru S.A.                      | CUSIP: 05971U2F3<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |     1810000 | PA      | $529774.53    | 0.53%             | 2029-01-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    36740000 | PA      | $1795458.05   | 1.80%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | PLN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-576.53      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                       | Peruvian Government International Bond              | CUSIP: 715638AV4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     5085000 | PA      | $1435035.28   | 1.44%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.       | IRS MXN                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |           1 | NC      | $96885.14     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    38391000 | PA      | $1470273.12   | 1.47%             | 2041-02-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/BRL FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-3489.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/EUR FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-25276.33    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                | JPMorgan Chase Bank NA                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |  6394000000 | PA      | $448659.41    | 0.45%             | 2031-07-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    24900000 | PA      | $3844565.25   | 3.85%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2530000 | PA      | $478905.48    | 0.48%             | 2034-10-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | HUF/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4011.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    13250000 | PA      | $694657.14    | 0.70%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074TB1<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    28000000 | PA      | $496938.13    | 0.50%             | 2026-03-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-18

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer