# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-26-011791
**Filing Date:** 2026-3
**Character Count:** 71826
**Document Hash:** a7af825a88b110d3f87732881dd26101
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011791.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0000940400-26-011791

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**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:** 26805775

**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 California Municipal Social Impact Fund (Series ID: S000011760)

| Class ID   | Class Name                                                      | Ticker Symbol   |
|:---|:---|:---|
| C000032185 | Payden California Municipal Social Impact Fund (Investor Class) | PYCRX           |
| C000248242 | Payden California Municipal Social Impact Fund (Adviser)        | PYCLX           |

## 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 California Municipal Social Impact Fund

- **b. EDGAR series identifier (if any):** S000011760

- **c. LEI of Series:** 549300ZIE79V6215MB30

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-30

**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:** $299038251.84

**Total Liabilities:** $7526259.11

**Net Assets:** $291511992.73

**Delayed Delivery Securities:** $3701509.00

**Cash Not Reported:** $282000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 4.00000000 | **5-Year:** 6149.00000000 | **10-Year:** 21639.00000000 | **30-Year:** 147207.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 926.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032185 | 0.48%                | 0.09%                | 0.89%                |
| Class ID C000248242 | 0.34%                | 0.07%                | 0.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $13661.43                | $437899.99                                 |
| Month 2  | $890.81                  | $-577190.39                                |
| Month 3  | $236062.95               | $1506492.11                                |

**Designated Index Information**

- **Index Name:** Muni Mutual Fund California Int. Index (Risk Basis

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       196 | NC      | $-5355.67     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SANTA CLARA VLY CA TRANSPRTN A              | Santa Clara Valley Transportation Authority                                   | CUSIP: 80168NJW0<br>LEI: 549300R6Q7T4MD3V9H68 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.86%             | 2055-06-01      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA R              | San Francisco City & County Redevelopment Agency Successor Agency             | CUSIP: 79770GKT2<br>LEI: 5493001TPOZL3UK8DX25 | Long             | DBT              | MUN               | US        |    725000 | PA      | $832153.33    | 0.29%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA PUBLIC WKS              | Los Angeles County Public Works Financing Authority                           | CUSIP: 54473EXL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5570000 | PA      | $6184112.13   | 2.12%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CMNTY IMPT COMMISSI              | Alameda Community Improvement Commission Successor Agency                     | CUSIP: 010775AH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250494.98    | 0.09%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A              | City of Los Angeles Department of Airports                                    | CUSIP: 544445B99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2246488.49   | 0.77%             | 2038-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RANCHO CA WTR DIST FING AUTH                | Rancho Water District Financing Authority                                     | CUSIP: 752111NY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1357280.29   | 0.47%             | 2040-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNION CITY CA CMNTY REDEV AGY               | Union City Community Redevelopment Agency Successor Agency                    | CUSIP: 90566AAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350635.29    | 0.12%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALO ALTO CA UNIF SCH DIST                  | Palo Alto Unified School District                                             | CUSIP: 697379YR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938576.51    | 0.32%             | 2042-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 13068XQX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2935000 | PA      | $3316711.00   | 1.14%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063ELV6<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $2006902.58   | 0.69%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF              | California Municipal Finance Authority                                        | CUSIP: 130483KP4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2505414.58   | 0.86%             | 2056-01-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI              | Golden State Tobacco Securitization Corp                                      | CUSIP: 38122NB76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $566965.58    | 0.19%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ABAG CA FIN AUTH FOR NONPROFIT              | Abag Finance Authority for Nonprofit Corps                                    | CUSIP: 00037CQS2<br>LEI: 549300EWVCCTI6O2KU84 | Long             | DBT              | MUN               | US        |    850000 | PA      | $850000.00    | 0.29%             | 2030-12-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD CA UNIF SCH DIST                  | Inglewood Unified School District                                             | CUSIP: 457110PB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1563637.41   | 0.54%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EAST BAY CA MUNI UTILITY DIST               | East Bay Municipal Utility District Water System Revenue                      | CUSIP: 271014V82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1434936.69   | 0.49%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVER CITY CA REGL STADIUM FIN              | River City Regional Stadium Finance Authority                                 | CUSIP: 76803EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2355000 | PA      | $2503089.45   | 0.86%             | 2029-11-01      | Fixed         | 8.09%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA MUNI IMPT CORPL              | Municipal Improvement Corp of Los Angeles                                     | CUSIP: 544587G93<br>LEI: 549300ZJ0YLTZNSR8F57 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508554.99    | 0.17%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W SONOMA CNTY CA UNION HIGH SC              | West Sonoma County Union High School District                                 | CUSIP: 956101JW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1657632.47   | 0.57%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $2027935.70   | 0.70%             | 2054-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| OXNARD CA SCH DIST COPS                     | Oxnard School District                                                        | CUSIP: 692021BU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230703.03    | 0.08%             | 2045-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JHD1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3265000 | PA      | $3490354.05   | 1.20%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF              | California Municipal Finance Authority                                        | CUSIP: 130483EU0<br>LEI: 549300JZVUPNWP77SP29 | Long             | ABS-MBS          | MUN               | US        |   2437169 | PA      | $2020716.32   | 0.69%             | 2040-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO              | California Municipal Finance Authority                                        | CUSIP: 13048RAS6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001627.66   | 0.34%             | 2050-09-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| HARTNELL CA CMNTY CLG DIST                  | Hartnell Community College District/CA                                        | CUSIP: 417123EH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $551653.26    | 0.19%             | 2036-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063DZ35<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036254.20   | 0.36%             | 2046-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HSG FIN AGY HOME              | California Housing Finance Agency                                             | CUSIP: 13034MBE3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2528642.32   | 0.87%             | 2055-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                  | California State University                                                   | CUSIP: 13077DSZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750820.26    | 0.26%             | 2051-11-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| EL RANCHO CA UNIF SCH DIST                  | El Rancho Unified School District                                             | CUSIP: 283839F78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $793338.23    | 0.27%             | 2028-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA HSG AUTH MF HSG              | Los Angeles Housing Authority                                                 | CUSIP: 544562DS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3715000 | PA      | $3734565.31   | 1.28%             | 2046-01-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 13068XDG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $790093.46    | 0.27%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 130685C81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1909570.47   | 0.66%             | 2035-03-01      | Fixed         | 7.80%                 | 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        |   6001268 | NS      | $6001267.50   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERGREEN CA ELEM SCH DIST                  | Evergreen School District                                                     | CUSIP: 300189FC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1301436.84   | 0.45%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST                  | San Diego Unified School District/CA                                          | CUSIP: 797356FS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1574263.53   | 0.54%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT              | California Educational Facilities Authority                                   | CUSIP: 130178VU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1360174.44   | 0.47%             | 2040-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GROSSMONT CA UNION HIGH SCH DI              | Grossmont Union High School District                                          | CUSIP: 399262LB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1026680.31   | 0.35%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CA UNION HIGH SCH DI              | San Mateo Union High School District                                          | CUSIP: 799017A65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $2159117.08   | 0.74%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &              | California Infrastructure & Economic Development Bank                         | CUSIP: 13034A5B2<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017178.96   | 0.35%             | 2029-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF              | California Municipal Finance Authority                                        | CUSIP: 130483HC7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    520000 | PA      | $550939.67    | 0.19%             | 2056-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JHG4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1234594.97   | 0.42%             | 2056-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL CA SCH DIST                        | National School District                                                      | CUSIP: 635111EZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1452381.26   | 0.50%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3685006.10   | 1.26%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CNTY CA HSG AUTH                 | Sacramento County Housing Authority                                           | CUSIP: 786111FD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.51%             | 2031-05-15      | Variable      | 2.34%                 | No            |                  2 | On Loan: No      |
| FONTANA CA PUBLIC FIN AUTH LEA              | Fontana Public Facilities Financing Authority                                 | CUSIP: 34461BCG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $720335.25    | 0.25%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTY DEV AUTH              | California Statewide Communities Development Authority                        | CUSIP: 13081DAA4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | ABS-MBS          | MUN               | US        |    957594 | PA      | $754927.17    | 0.26%             | 2038-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CA FIN AUTH ELEC SYS              | City of Roseville CA Electric System Revenue                                  | CUSIP: 77781RDH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2478308.94   | 0.85%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES              | University of California                                                      | CUSIP: 91412HQW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1347166.44   | 0.46%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLTON CA JT UNIF SCH DIST                  | Colton Joint Unified School District                                          | CUSIP: 197036RJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1425176.81   | 0.49%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY LTD OBL              | California Housing Finance Agency                                             | CUSIP: 13034DBK9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    800000 | PA      | $798770.75    | 0.27%             | 2047-05-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA FACS INC L              | Los Angeles County Facilities Inc                                             | CUSIP: 54531FAS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2122458.19   | 0.73%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                              | CUSIP: 13032UU55<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2633682.90   | 0.90%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1590727.70   | 0.55%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CA FIN AUTH ELEC SYS              | City of Roseville CA Electric System Revenue                                  | CUSIP: 77781RDG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1115127.49   | 0.38%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA HSG AUTH MF HSG              | Los Angeles Housing Authority                                                 | CUSIP: 544562CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2231393.08   | 0.77%             | 2034-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2580680.52   | 0.89%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY & CNTY P              | City of San Francisco CA Public Utilities Commission Water Revenue            | CUSIP: 79771FLY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1249118.80   | 0.43%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST                  | San Diego Unified School District/CA                                          | CUSIP: 797356JN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2380000 | PA      | $2520921.01   | 0.86%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA MUNI IMPT CORPL              | Municipal Improvement Corp of Los Angeles                                     | CUSIP: 5445875L8<br>LEI: 549300ZJ0YLTZNSR8F57 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3434183.35   | 1.18%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES              | University of California                                                      | CUSIP: 91412HWL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2672938.39   | 0.92%             | 2040-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CA MUNI UTILITY DIS              | Sacramento Municipal Utility District                                         | CUSIP: 786005F52<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |    820000 | PA      | $908924.51    | 0.31%             | 2049-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063DZW1<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2229310.30   | 0.76%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 13068XPH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1198125.99   | 0.41%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA HARBOR DEPT                  | Port of Los Angeles                                                           | CUSIP: 544552D66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1155373.99   | 0.40%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                              | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    705000 | PA      | $707866.43    | 0.24%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA UNIF SCH DIST                | Los Angeles Unified School District/CA                                        | CUSIP: 544647HA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1113340.38   | 0.38%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JEP7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6420000 | PA      | $6886953.22   | 2.36%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CMNTY IMPT COMMISSI              | Alameda Community Improvement Commission Successor Agency                     | CUSIP: 010775AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100227.72    | 0.03%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                   | CUSIP: 912797QN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1600000 | PA      | $1584039.76   | 0.54%             | 2026-05-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PALM SPRINGS CA ARPT PASSENGER              | City of Palm Springs CA Passenger Facility Charge Revenue                     | CUSIP: 696653BG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400869.84    | 0.14%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                  | California State University                                                   | CUSIP: 13077DVU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2391251.07   | 0.82%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MODESTO CA ELEM SCH DIST STANI              | Modesto Elementary School District/Stanislaus County                          | CUSIP: 607735FF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1172980.10   | 0.40%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063EMU7<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   3065000 | PA      | $3673006.33   | 1.26%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA HSG AUTH MF HSG R              | San Diego Housing Authority Inc                                               | CUSIP: 79728FLL3<br>LEI: 549300X9H1ODNOOT1Q87 | Long             | DBT              | MUN               | US        |   2795000 | PA      | $2829156.40   | 0.97%             | 2040-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| INGLEWOOD CA UNIF SCH DIST                  | Inglewood Unified School District                                             | CUSIP: 457110PH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3456679.69   | 1.19%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                              | CUSIP: 13032UUP1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1046206.57   | 0.36%             | 2039-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY MUNI CT              | California Housing Finance Agency                                             | CUSIP: 13033DAG0<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | MUN               | US        |   3543697 | PA      | $3629334.24   | 1.25%             | 2035-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ONTARIO PUB FING AUTH LEASE RE              | Ontario Public Financing Authority                                            | CUSIP: 68304REH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2789077.33   | 0.96%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 13068XCH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1785000 | PA      | $2019600.74   | 0.69%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA PUBLIC WKS              | Los Angeles County Public Works Financing Authority                           | CUSIP: 54473ENT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1805318.85   | 0.62%             | 2033-08-01      | Fixed         | 7.49%                 | No            |                  2 | On Loan: No      |
| SAN JOAQUIN VLY CLEAN ENERGY A              | San Joaquin Valley Clean Energy Authority                                     | CUSIP: 79811YAK4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |   2590000 | PA      | $2914624.98   | 1.00%             | 2056-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PERALTA CA CMNTY CLG DIST                   | Peralta Community College District                                            | CUSIP: 713575YX0<br>LEI: 254900VWMA3IHACOBO19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1103686.07   | 0.38%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA PUBLIC FACS FING               | San Diego Public Facilities Financing Authority                               | CUSIP: 79730CFX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101242.23    | 0.03%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANTELOPE VLY CA CMNTY CLG DIST              | Antelope Valley Community College District                                    | CUSIP: 03667PLQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1558636.55   | 0.53%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                              | CUSIP: 91282CHX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1492000 | PA      | $1520907.50   | 0.52%             | 2028-08-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CA AREA FLOOD CONTR              | Sacramento Area Flood Control Agency                                          | CUSIP: 785840JQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4830000 | PA      | $4904963.54   | 1.68%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA PUBLIC WKS              | Los Angeles County Public Works Financing Authority                           | CUSIP: 54473ERK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501059.23    | 0.17%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JGF7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2481234.07   | 0.85%             | 2056-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST                  | San Diego Unified School District/CA                                          | CUSIP: 797356LX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1759642.30   | 0.60%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A              | City of Los Angeles Department of Airports                                    | CUSIP: 5444456G9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1506986.97   | 0.52%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA PUBLIC WKS              | Los Angeles County Public Works Financing Authority                           | CUSIP: 54473ESU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8925000 | PA      | $8956573.06   | 3.07%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JHH2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2933621.84   | 1.01%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT              | California Statewide Communities Development Authority                        | CUSIP: 13080SW91<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1114686.89   | 0.38%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multifamily                     | Freddie Mac Multifamily ML Certificates                                       | CUSIP: 3137H9JM2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1579695 | PA      | $1474880.92   | 0.51%             | 2036-07-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| REDWOODS CA CMNTY CLG DIST                  | Redwoods Community College District                                           | CUSIP: 758084EG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1658470.92   | 0.57%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA BARBARA CNTY CA SOLID WA              | County of Santa Barbara CA                                                    | CUSIP: 80136PCG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1649739.62   | 0.57%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORONADO CA CMNTY DEV AGY SUCC              | Coronado Community Development Agency Successor Agency                        | CUSIP: 21977AAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45054.69     | 0.02%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA R              | San Francisco City & County Redevelopment Agency Successor Agency             | CUSIP: 79770GKW5<br>LEI: 5493001TPOZL3UK8DX25 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1162897.43   | 0.40%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT              | California Educational Facilities Authority                                   | CUSIP: 130179VH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986844.86    | 0.34%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063ELU8<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   2740000 | PA      | $3127339.20   | 1.07%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE              | California Municipal Finance Authority                                        | CUSIP: 13048T7L1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    325000 | PA      | $329717.18    | 0.11%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA M              | City & County of San Francisco CA                                             | CUSIP: 79765PDW0<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   3192373 | PA      | $2621043.27   | 0.90%             | 2039-07-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A              | City of Los Angeles Department of Airports                                    | CUSIP: 544445FD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1259304.93   | 0.43%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONTARIO PUB FING AUTH LEASE RE              | Ontario Public Financing Authority                                            | CUSIP: 68304REG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094791.64   | 0.38%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1309122.29   | 0.45%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURG CA UNIF SCH DIST                  | Pittsburg Unified School District                                             | CUSIP: 724581YF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1104231.80   | 0.38%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA BARBARA CNTY CA SOLID WA              | County of Santa Barbara CA                                                    | CUSIP: 80136PCV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051253.28   | 0.36%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL TRANSPR              | San Diego County Regional Transportation Commission                           | CUSIP: 797400KX5<br>LEI: W4FR340A6EQ2SSI17B56 | Long             | DBT              | MUN               | US        |   4590000 | PA      | $4609421.84   | 1.58%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1390243.64   | 0.48%             | 2054-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY LTD OBL              | California Housing Finance Agency                                             | CUSIP: 13034DAM6<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1503774.13   | 0.52%             | 2040-07-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| SANTA BARBARA CNTY CA SOLID WA              | County of Santa Barbara CA                                                    | CUSIP: 80136PCN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1834451.27   | 0.63%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                              | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5900000 | PA      | $5927886.70   | 2.03%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CA UNION HIGH SCH DI              | Jefferson Union High School District                                          | CUSIP: 4724666K2<br>LEI: 549300S1EAFO90X8HQ88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1105228.58   | 0.38%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM CA HSG & PUBLIC IMPT A              | Anaheim Housing & Public Improvements Authority                               | CUSIP: 032556QS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1946006.65   | 0.67%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JHK5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2117225.53   | 0.73%             | 2056-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                              | CUSIP: 13032UMA3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512108.38    | 0.18%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES              | University of California                                                      | CUSIP: 91412HMA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2608105.00   | 0.89%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO              | California Municipal Finance Authority                                        | CUSIP: 13048RAM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    750000 | PA      | $793476.16    | 0.27%             | 2053-09-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF              | California Municipal Finance Authority                                        | CUSIP: 130483JK7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2414206.79   | 0.83%             | 2029-10-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ABAG CA FIN AUTH FOR NONPROFIT              | Abag Finance Authority for Nonprofit Corps                                    | CUSIP: 00037CWB2<br>LEI: 549300EWVCCTI6O2KU84 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175371.66    | 0.06%             | 2026-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063C5D8<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3741417.24   | 1.28%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JDR4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1372896.97   | 0.47%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA PUBLIC FACS FING               | San Diego Public Facilities Financing Authority                               | CUSIP: 797299RR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1782785.00   | 0.61%             | 2038-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY LTD OBL              | California Housing Finance Agency                                             | CUSIP: 13034DAC8<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1376683.12   | 0.47%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMECULA VLY CA UNIF SCH DIST               | Temecula Valley Unified School District                                       | CUSIP: 87970GQY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $395985.23    | 0.14%             | 2044-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BRENTWOOD CA INFRASTRUCTURE FI              | Brentwood Infrastructure Financing Authority                                  | CUSIP: 10727YBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $316729.34    | 0.11%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN BERNARDINO CNTY CA TRANSPR              | San Bernardino County Transportation Authority                                | CUSIP: 796846HN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1363949.91   | 0.47%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT SAN ANTONIO CA CMNTY CLG              | Mt San Antonio Community College District                                     | CUSIP: 623040QE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1147964.71   | 0.39%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EARTHQUAKE AUTH               | California Earthquake Authority                                               | CUSIP: 13017HAP1<br>LEI: 254900P2MGLOUH3QS859 | Long             | DBT              | MUN               | US        |    255000 | PA      | $258564.81    | 0.09%             | 2027-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY &CNTY AR              | San Francisco City & County Airport Comm-San Francisco International Airport  | CUSIP: 79766DXW4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3550000 | PA      | $3883595.51   | 1.33%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIMI VLY CA PUBLIC FACS FING A              | Simi Valley Public Financing Authority                                        | CUSIP: 82863VAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200455.02    | 0.07%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES              | University of California                                                      | CUSIP: 91412HWH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1351328.76   | 0.46%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA                | City & County of San Francisco CA                                             | CUSIP: 797646L95<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1581362.39   | 0.54%             | 2033-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                              | CUSIP: 13032UXH6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1759549.48   | 0.60%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRVINE RANCH CA WTR DIST                    | Irvine Ranch Water District                                                   | CUSIP: 4636324H9<br>LEI: 2ZRS7W19IBMY48SFBI68 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.03%             | 2041-10-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| FONTANA CA UNIF SCH DIST                    | Fontana Unified School District                                               | CUSIP: 344640XF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1059185.46   | 0.36%             | 2040-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A              | California Community Choice Financing Authority                               | CUSIP: 13013JHJ8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1668044.13   | 0.57%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAUGUS CA UNION SCH DIST SCH F              | Saugus Union School District School Facilities Improvement District No 2014-1 | CUSIP: 804237CD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1753248.73   | 0.60%             | 2037-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ST CENTER CA CMNTY CLG DIST                 | State Center Community College District                                       | CUSIP: 856597HL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1424900.44   | 0.49%             | 2039-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 130685WB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1703616.22   | 0.58%             | 2034-10-01      | Fixed         | 8.36%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063DFS2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3765418.62   | 1.29%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HSG FIN AGY MF T              | California Housing Finance Agency                                             | CUSIP: 130331AA9<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | MUN               | US        |   2917522 | PA      | $3007134.44   | 1.03%             | 2033-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MET WTR DIST OF STHRN CA WTRWK              | Metropolitan Water District of Southern California                            | CUSIP: 59266TXR7<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2267531.43   | 0.78%             | 2037-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CA CITY & CNTY C              | City & County of San Francisco CA                                             | CUSIP: 79765GDC4<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2333258.36   | 0.80%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MU              | Freddie Mac Multifamily ML Certificates                                       | CUSIP: 3137HASQ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2458949 | PA      | $2073619.96   | 0.71%             | 2037-09-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PERALTA CA CMNTY CLG DIST LTDO              | Peralta Community College District                                            | CUSIP: 713580BN7<br>LEI: 254900VWMA3IHACOBO19 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1725000.00   | 0.59%             | 2031-08-05      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA UNIF SCH DIST                | Los Angeles Unified School District/CA                                        | CUSIP: 544647KP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2817148.21   | 0.97%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MODESTO CA HIGH SCH DIST STANI              | Modesto High School District                                                  | CUSIP: 607743MA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093451.31   | 0.38%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST PUBLIC WKS BRD L              | California State Public Works Board                                           | CUSIP: 13068XMG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1961664.23   | 0.67%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multifamily                     | Freddie Mac Multifamily ML Certificates                                       | CUSIP: 3137HAA97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1833474 | PA      | $1684312.86   | 0.58%             | 2035-11-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| SAN LEANDRO CA UNIF SCH DIST                | San Leandro Unified School District                                           | CUSIP: 798458TK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047022.93   | 0.36%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CA UNIF SCH DIST                  | Riverside Unified School District                                             | CUSIP: 769059G83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1337297.06   | 0.46%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                               | State of California                                                           | CUSIP: 13063EHG4<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2064651.49   | 0.71%             | 2034-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STOCKTON CA UNIF SCH DIST                   | Stockton Unified School District                                              | CUSIP: 861419H36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2455000 | PA      | $2695827.39   | 0.92%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES              | University of California                                                      | CUSIP: 91412HUU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1506661.21   | 0.52%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST UNIV REVENUE                  | California State University                                                   | CUSIP: 13077DEW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1153190.70   | 0.40%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN BERNARDINO CA CMNTY CLG DI              | San Bernardino Community College District                                     | CUSIP: 796720QW3<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3432479.54   | 1.18%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CNTY CA PUBLIC WKS              | Los Angeles County Public Works Financing Authority                           | CUSIP: 54473EZH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2840546.80   | 0.97%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTNELL CA CMNTY CLG DIST                  | Hartnell Community College District/CA                                        | CUSIP: 417123GM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $880976.34    | 0.30%             | 2045-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUTH TOLL BRI              | Bay Area Toll Authority                                                       | CUSIP: 072024VM1<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1118656.66   | 0.38%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

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

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer