# EDGAR Filing Document

**Accession Number:** 0000919219
**File Stem:** 0001567619-23-002474
**Filing Date:** 2023-2
**Character Count:** 16021
**Document Hash:** 62366a026a21a44613830adc92a9b01f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001567619-23-002474.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001567619-23-002474

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL
- **CENTRAL INDEX KEY:** 0000919219
- **IRS NUMBER:** 953921788
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14013
- **FILM NUMBER:** 23616518

**BUSINESS ADDRESS:**
- **STREET 1:** 333 SOUTH GRAND
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-830-4255

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

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** PAYDEN  RYGEL<br>**Address:** 333 SOUTH GRAND AVENUE<br>40TH FL<br>LOS ANGELES, CA 90071

**Form 13F File Number:** 028-14013

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 integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Edward S. Garlock<br>**Title:** General Counsel<br>**Phone:** 213-830-4255

**Signature, Place, and Date of Signing:**

Edward S. Garlock  Los Angeles, CA  02-13-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 136

**Form 13F Information Table Value Total:** $1876132

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABORATORIES | COM | 002824100 |  | 12322 | 112230 | SH |  | SOLE |  | 112230 | 0 | 0 |
| ABBVIE | COM | 00287Y109 |  | 33659 | 208270 | SH |  | SOLE |  | 208270 | 0 | 0 |
| ADVANCE AUTO PARTS | COM | 00751Y106 |  | 147 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 304 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQUITIES | COM | 015271109 |  | 1136 | 7800 | SH |  | SOLE |  | 7800 | 0 | 0 |
| ALPHABET INC-CL A | COM | 02079K305 |  | 16746 | 189800 | SH |  | SOLE |  | 189800 | 0 | 0 |
| AMAZON.COM | COM | 023135106 |  | 989 | 11770 | SH |  | SOLE |  | 11770 | 0 | 0 |
| AMDOCS | COM | 002256908 |  | 34660 | 381300 | SH |  | SOLE |  | 381300 | 0 | 0 |
| AMEREN | COM | 023608102 |  | 222 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| AMERICAN ELECTRIC POWER | COM | 025537101 |  | 22741 | 239500 | SH |  | SOLE |  | 239500 | 0 | 0 |
| AMERICAN TOWER | COM | 03027X100 |  | 169 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| AMERIPRISE FINANCIAL | COM | 03076C106 |  | 23602 | 75800 | SH |  | SOLE |  | 75800 | 0 | 0 |
| AMGEN | COM | 031162100 |  | 289 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| ANALOG DEVICES | COM | 032654105 |  | 1739 | 10600 | SH |  | SOLE |  | 10600 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 834 | 26910 | SH |  | SOLE |  | 26910 | 0 | 0 |
| APPLE | COM | 037833100 |  | 32086 | 246950 | SH |  | SOLE |  | 246950 | 0 | 0 |
| ARCHER DANIELS | COM | 039483102 |  | 26862 | 289300 | SH |  | SOLE |  | 289300 | 0 | 0 |
| ARES CAPITAL | COM | 04010L103 |  | 208 | 11260 | SH |  | SOLE |  | 11260 | 0 | 0 |
| ARES MANAGEMENT CORP-A | COM | 03990B101 |  | 9896 | 144600 | SH |  | SOLE |  | 144600 | 0 | 0 |
| ARTHUR J GALLAGHER  CO | COM | 363576109 |  | 47207 | 250380 | SH |  | SOLE |  | 250380 | 0 | 0 |
| AT | COM | 00206R102 |  | 15985 | 868300 | SH |  | SOLE |  | 868300 | 0 | 0 |
| AVALONBAY COMMUNITIES | COM | 053484101 |  | 8932 | 55300 | SH |  | SOLE |  | 55300 | 0 | 0 |
| BANK OF AMERICA | COM | 060505104 |  | 28056 | 847090 | SH |  | SOLE |  | 847090 | 0 | 0 |
| BRISTOL-MYERS SQUIBB | COM | 110122108 |  | 31878 | 443060 | SH |  | SOLE |  | 443060 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 23556 | 42130 | SH |  | SOLE |  | 42130 | 0 | 0 |
| CANADIAN NATURAL RESOURCES | COM | 136385101 |  | 167 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| CATERPILLAR | COM | 149123101 |  | 240 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| CF INDUSTRIES HOLDINGS | COM | 125269100 |  | 18028 | 211600 | SH |  | SOLE |  | 211600 | 0 | 0 |
| CHESAPEAKE ENERGY CORP | COM | 165167735 |  | 20318 | 215300 | SH |  | SOLE |  | 215300 | 0 | 0 |
| CHEVRON | COM | 166764100 |  | 31411 | 175000 | SH |  | SOLE |  | 175000 | 0 | 0 |
| CHUBB LTD | COM | H1467J104 |  | 38201 | 173170 | SH |  | SOLE |  | 173170 | 0 | 0 |
| CISCO SYSTEMS | COM | 17275R102 |  | 7747 | 162610 | SH |  | SOLE |  | 162610 | 0 | 0 |
| CITIGROUP | COM | 172967424 |  | 213 | 4700 | SH |  | SOLE |  | 4700 | 0 | 0 |
| CITIZENS FINANCIAL GROUP | COM | 174610105 |  | 12884 | 327260 | SH |  | SOLE |  | 327260 | 0 | 0 |
| COCA-COLA | COM | 191216100 |  | 30107 | 473310 | SH |  | SOLE |  | 473310 | 0 | 0 |
| COMCAST-A | COM | 20030N101 |  | 12729 | 364000 | SH |  | SOLE |  | 364000 | 0 | 0 |
| COMSTOCK RESOURCES | COM | 205768302 |  | 1311 | 95620 | SH |  | SOLE |  | 95620 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1782 | 15100 | SH |  | SOLE |  | 15100 | 0 | 0 |
| COSTCO WHOLESALE | COM | 22160K105 |  | 22195 | 48620 | SH |  | SOLE |  | 48620 | 0 | 0 |
| CRESCENT | COM | 005303239 |  | 5019 | 409061 | SH |  | SOLE |  | 409061 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 163 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 1260 | 5200 | SH |  | SOLE |  | 5200 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 40649 | 436200 | SH |  | SOLE |  | 436200 | 0 | 0 |
| DANAHER | COM | 235851102 |  | 23166 | 87280 | SH |  | SOLE |  | 87280 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 986 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| DEVON ENERGY | COM | 25179M103 |  | 13238 | 215210 | SH |  | SOLE |  | 215210 | 0 | 0 |
| DIGITAL REALTY REIT | COM | 253868103 |  | 11 | 110 | SH |  | SOLE |  | 110 | 0 | 0 |
| DOMINION RESOURCES | COM | 25746U109 |  | 2569 | 41900 | SH |  | SOLE |  | 41900 | 0 | 0 |
| DOVER CORP | COM | 260003108 |  | 363 | 2680 | SH |  | SOLE |  | 2680 | 0 | 0 |
| DUKE ENERGY | COM | 26441C204 |  | 22368 | 217190 | SH |  | SOLE |  | 217190 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 329 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| EASTMAN CHEMICAL | COM | 277432100 |  | 15 | 190 | SH |  | SOLE |  | 190 | 0 | 0 |
| EATON | COM | G29183103 |  | 21549 | 137300 | SH |  | SOLE |  | 137300 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 34831 | 67900 | SH |  | SOLE |  | 67900 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 43864 | 119900 | SH |  | SOLE |  | 119900 | 0 | 0 |
| EMERSON ELECTRIC | COM | 291011104 |  | 18914 | 196900 | SH |  | SOLE |  | 196900 | 0 | 0 |
| ENBRIDGE | COM | 29250N105 |  | 20641 | 527900 | SH |  | SOLE |  | 527900 | 0 | 0 |
| ENTERPRISE PRODUCTS PARTNERS | COM | 293792107 |  | 18823 | 780370 | SH |  | SOLE |  | 780370 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 18002 | 532120 | SH |  | SOLE |  | 532120 | 0 | 0 |
| EXELON | COM | 30161N101 |  | 6130 | 141800 | SH |  | SOLE |  | 141800 | 0 | 0 |
| EXXON MOBIL | COM | 30231G102 |  | 24911 | 225850 | SH |  | SOLE |  | 225850 | 0 | 0 |
| FEDEX | COM | 31428X106 |  | 2511 | 14500 | SH |  | SOLE |  | 14500 | 0 | 0 |
| FMC CORP | COM | 302491303 |  | 8524 | 68300 | SH |  | SOLE |  | 68300 | 0 | 0 |
| GENERAL DYNAMICS | COM | 369550108 |  | 43253 | 174330 | SH |  | SOLE |  | 174330 | 0 | 0 |
| GENERAL MILLS | COM | 370334104 |  | 34865 | 415800 | SH |  | SOLE |  | 415800 | 0 | 0 |
| GILEAD SCIENCES | COM | 375558103 |  | 979 | 11400 | SH |  | SOLE |  | 11400 | 0 | 0 |
| GOLDMAN SACHS GROUP | COM | 38141G104 |  | 23782 | 69260 | SH |  | SOLE |  | 69260 | 0 | 0 |
| HOME DEPOT | COM | 437076102 |  | 28070 | 88870 | SH |  | SOLE |  | 88870 | 0 | 0 |
| HONEYWELL INTL | COM | 438516106 |  | 279 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| INTL BUSINESS MACHINES | COM | 459200101 |  | 17267 | 122560 | SH |  | SOLE |  | 122560 | 0 | 0 |
| ISHARES 10-20 YEAR TREASURY ETF | COM | 464288653 |  | 8881 | 82096 | SH |  | SOLE |  | 82096 | 0 | 0 |
| ISHARES ESG 1-5 YEAR ETF | COM | 46435G243 |  | 2373 | 99849 | SH |  | SOLE |  | 99849 | 0 | 0 |
| ISHARES ESG AWARE USD CORPOR | COM | 46435G193 |  | 684 | 30697 | SH |  | SOLE |  | 30697 | 0 | 0 |
| ISHARES GNMA BOND ETF | COM | 46429B333 |  | 198 | 4553 | SH |  | SOLE |  | 4553 | 0 | 0 |
| ISHARES I-05Y INV GRADE CORP ETF | COM | 464288646 |  | 9046 | 181566 | SH |  | SOLE |  | 181566 | 0 | 0 |
| ISHARES IBOXX H/Y CORP BOND ETF | COM | 464288513 |  | 32368 | 439600 | SH |  | SOLE |  | 439600 | 0 | 0 |
| ISHARES IBOXX INVESTMENT ETF | COM | 464287242 |  | 3532 | 33500 | SH |  | SOLE |  | 33500 | 0 | 0 |
| ISHARES S 500 GROWTH ETF | COM | 464287309 |  | 14258 | 243730 | SH |  | SOLE |  | 243730 | 0 | 0 |
| ISHARES S MIDCAP 400 ETF | COM | 464287507 |  | 3151 | 13028 | SH |  | SOLE |  | 13028 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 20845 | 118000 | SH |  | SOLE |  | 118000 | 0 | 0 |
| JOHNSON CONTROLS INTERNATIONAL | COM | G51502105 |  | 22516 | 351810 | SH |  | SOLE |  | 351810 | 0 | 0 |
| JPMORGAN CHASE | COM | 46625H100 |  | 42840 | 319460 | SH |  | SOLE |  | 319460 | 0 | 0 |
| KIMCO REALTY | COM | 49446R109 |  | 966 | 45600 | SH |  | SOLE |  | 45600 | 0 | 0 |
| LAREDO PETROLEUM | COM | 516806205 |  | 653 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| LOCKHEED MARTIN | COM | 539830109 |  | 360 | 740 | SH |  | SOLE |  | 740 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES-CL A | COM | N53745100 |  | 631 | 7600 | SH |  | SOLE |  | 7600 | 0 | 0 |
| MASTERCARD | COM | 57636Q104 |  | 995 | 2860 | SH |  | SOLE |  | 2860 | 0 | 0 |
| MCDONALD'S | COM | 580135101 |  | 30575 | 116020 | SH |  | SOLE |  | 116020 | 0 | 0 |
| MEDTRONIC | COM | G5960L103 |  | 117 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| MERCK  CO | COM | 58933Y105 |  | 37502 | 338010 | SH |  | SOLE |  | 338010 | 0 | 0 |
| METLIFE | COM | 59156R108 |  | 35073 | 484640 | SH |  | SOLE |  | 484640 | 0 | 0 |
| MICROCHIP TECHNOLOGY | COM | 595017104 |  | 337 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| MICROSOFT | COM | 594918104 |  | 31136 | 129830 | SH |  | SOLE |  | 129830 | 0 | 0 |
| MONDELEZ INTL | COM | 609207105 |  | 11388 | 170870 | SH |  | SOLE |  | 170870 | 0 | 0 |
| MORGAN STANLEY | COM | 617446448 |  | 23202 | 272900 | SH |  | SOLE |  | 272900 | 0 | 0 |
| NABORS INDUSTRIES | COM | G6359F137 |  | 983 | 6350 | SH |  | SOLE |  | 6350 | 0 | 0 |
| NETFLIX | COM | 64110L106 |  | 2185 | 7410 | SH |  | SOLE |  | 7410 | 0 | 0 |
| NEXTERA ENERGY | COM | 65339F101 |  | 42017 | 502600 | SH |  | SOLE |  | 502600 | 0 | 0 |
| NEXTSTAR MEDIA GROUP INC-CLASS A | COM | 65336K103 |  | 14685 | 83900 | SH |  | SOLE |  | 83900 | 0 | 0 |
| NVIDIA | COM | 67066G104 |  | 511 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| ORACLE | COM | 68389X105 |  | 3817 | 46700 | SH |  | SOLE |  | 46700 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 |  | 152 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| PAYCHEX | COM | 704326107 |  | 27645 | 239230 | SH |  | SOLE |  | 239230 | 0 | 0 |
| PEPSICO | COM | 713448108 |  | 30766 | 170300 | SH |  | SOLE |  | 170300 | 0 | 0 |
| PETROLEO BRASILEIRO SA | COM | 71654V408 |  | 109 | 10210 | SH |  | SOLE |  | 10210 | 0 | 0 |
| PFIZER | COM | 717081103 |  | 25312 | 493990 | SH |  | SOLE |  | 493990 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 18724 | 179900 | SH |  | SOLE |  | 179900 | 0 | 0 |
| PNC FINANCIAL | COM | 693475105 |  | 869 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| PROLOGIS | COM | 74340W103 |  | 20934 | 185700 | SH |  | SOLE |  | 185700 | 0 | 0 |
| PUBLIC STORAGE | COM | 74460D109 |  | 4287 | 15300 | SH |  | SOLE |  | 15300 | 0 | 0 |
| QUALCOMM | COM | 747525103 |  | 4727 | 43000 | SH |  | SOLE |  | 43000 | 0 | 0 |
| RANGE RESOURCES CORP | COM | 75281A109 |  | 1315 | 52570 | SH |  | SOLE |  | 52570 | 0 | 0 |
| RAYTHEON TECH CORP | COM | 75513E101 |  | 13037 | 129180 | SH |  | SOLE |  | 129180 | 0 | 0 |
| REPUBLIC SERVICES-CL A | COM | 760759100 |  | 41206 | 319450 | SH |  | SOLE |  | 319450 | 0 | 0 |
| S 500 DEPOSITARY RECEIPTS ETF | COM | 78462F103 |  | 28758 | 75197 | SH |  | SOLE |  | 75197 | 0 | 0 |
| SCHWAB US MID CAP ETF | COM | 808524508 |  | 74 | 1130 | SH |  | SOLE |  | 1130 | 0 | 0 |
| SIMON PROPERTY GROUP | COM | 828806109 |  | 18603 | 158350 | SH |  | SOLE |  | 158350 | 0 | 0 |
| SOUTHWESTERN ENERGY COMPANY | COM | 845467109 |  | 2698 | 461250 | SH |  | SOLE |  | 461250 | 0 | 0 |
| TARGET | COM | 87612E106 |  | 21521 | 144400 | SH |  | SOLE |  | 144400 | 0 | 0 |
| TELLURIAN INC | COM | 87968A104 |  | 67 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| TEXAS INSTRUMENTS | COM | 882508104 |  | 26427 | 159950 | SH |  | SOLE |  | 159950 | 0 | 0 |
| THERMO FISHER SCIENTIFIC | COM | 883556102 |  | 3029 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| TORONTO-DOMINION BANK | COM | 891160509 |  | 1133 | 17500 | SH |  | SOLE |  | 17500 | 0 | 0 |
| TOURMALINE OIL | COM | 89156V106 |  | 480 | 9500 | SH |  | SOLE |  | 9500 | 0 | 0 |
| TRUIST FINANCIAL CORPORATION | COM | 89832Q109 |  | 155 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| UNION PACIFIC | COM | 907818108 |  | 994 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| UNITED PARCEL SERVICE | COM | 911312106 |  | 25226 | 145110 | SH |  | SOLE |  | 145110 | 0 | 0 |
| UNITEDHEALTH GROUP | COM | 91324P102 |  | 50478 | 95210 | SH |  | SOLE |  | 95210 | 0 | 0 |
| VANGUARD REIT ETF | COM | 922908553 |  | 122 | 1480 | SH |  | SOLE |  | 1480 | 0 | 0 |
| VERIZON COMMUNICATIONS | COM | 92343V104 |  | 2915 | 73990 | SH |  | SOLE |  | 73990 | 0 | 0 |
| VICI PROPERTIES | COM | 925652109 |  | 18 | 550 | SH |  | SOLE |  | 550 | 0 | 0 |
| VISA INC-CL A | COM | 92826C839 |  | 3906 | 18800 | SH |  | SOLE |  | 18800 | 0 | 0 |
| WAL-MART STORES | COM | 931142103 |  | 1049 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| WALT DISNEY CO | COM | 254687106 |  | 24946 | 287130 | SH |  | SOLE |  | 287130 | 0 | 0 |
| WASTE MANAGEMENT | COM | 94106L109 |  | 1851 | 11800 | SH |  | SOLE |  | 11800 | 0 | 0 |
| WILLIAMS COS | COM | 969457100 |  | 25885 | 786770 | SH |  | SOLE |  | 786770 | 0 | 0 |

---