# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-002823
**Filing Date:** 2025-9
**Character Count:** 35394
**Document Hash:** ef51d79c1d3b63fe9e587ab7b6352516
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002823.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002823

**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:** 251348684

**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 Equity Income Fund (Series ID: S000011766)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000032191 | Payden Equity Income Fund (Investor Class) | PYVLX           |
| C000110231 | Payden Equity Income Fund (Adviser Class)  | PYVAX           |
| C000146917 | Payden Equity Income Fund (SI Class)       | PYVSX           |

## Nport-Ex

#### Payden

#### Equity

#### Income

#### Fund

#### Schedule

#### of

#### Investments
*-* 

*July* 

*31* 

*,* 

*2025* 

(Unaudited)

Principal

or

Shares

Security

Description

Value

(000) Stock

(97%)

Common

Stock

(92%)

Communication

(8%)

165,800

Alphabet

Inc.,

Class

A

$

31,817

211,600

Corning

Inc.

13,382

24,400

Meta

Platforms

Inc.,

Class

A

18,872

52,200

T-Mobile

U.S.

Inc.

12,445

313,000

Verizon

Communications

Inc.

13,384

89,900

Consumer

Discretionary

(7%)

135,700

Amazon.com

Inc. (a)

31,769

1,500

Booking

Holdings

Inc.

8,256

34,200

McDonald's

Corp.

10,262

100,500

NIKE

Inc.,

Class

B

7,506

125,400

TJX

Cos.

Inc.

15,616

73,409

Consumer

Staple

(7%)

133,200

Coca-Cola

Co.

9,043

9,500

Costco

Wholesale

Corp.

8,927

247,800

Koninklijke

Ahold

Delhaize

NV (b)

9,785

109,700

Mondelez

International

Inc.,

Class

A

7,096

64,400

Procter

&

Gamble

Co.

9,690

179,400

Walmart

Inc.

17,578

62,119

Energy

(4%)

212,000

Coterra

Energy

Inc.

5,171

164,700

Exxon

Mobil

Corp.

18,387

56,500

Valero

Energy

Corp.

7,758

171,500

Williams

Cos.

Inc.

10,281

41,597

Financial

(23%)

25,800

American

Express

Co.

7,722

24,300

Ameriprise

Financial

Inc.

12,592

26,800

Arthur

J

Gallagher

&

Co.

7,698

959,800

Aviva

PLC (b)

8,221

550,900

Bank

of

America

Corp.

26,041

20,500

Blackrock

Inc.

22,673

143,700

JPMorgan

Chase

&

Co.

42,570

98,200

MetLife

Inc.

7,458

165,300

Morgan

Stanley

23,549

87,400

Nasdaq

Inc.

8,410

1,511,100

NatWest

Group

PLC (b)

10,517

19,600

S&P

Global

Inc.

10,802

57,100

Visa

Inc.,

Class

A

19,726

332,400

Wells

Fargo

&

Co.

26,801

234,780

Healthcare

(12%)

54,700

AbbVie

Inc.

10,339

25,900

Cigna

Group

6,925

123,500

CVS

Health

Corp.

7,669

89,300

Danaher

Corp.

17,606

90,200

Gilead

Sciences

Inc.

10,129

64,900

Johnson

&

Johnson

10,692

14,900

McKesson

Corp.

10,334

131,700

Merck

&

Co.

Inc.

10,288

85,900

Quest

Diagnostics

Inc.

14,381

47,900

Stryker

Corp.

18,812

117,175

Principal

or

Shares

Security

Description

Value

(000) Industrial

(13%)

139,900

AECOM

$

15,772

22,000

Cummins

Inc.

8,088

19,600

Deere

&

Co.

10,278

32,900

Eaton

Corp.

PLC

12,657

83,700

General

Electric

Co.

22,689

73,100

ITT

Inc.

12,424

112,800

Jacobs

Solutions

Inc.

16,003

20,400

Lockheed

Martin

Corp.

8,588

76,400

RTX

Corp.

12,038

58,800

Schneider

Electric

SE (b)

15,316

52,100

Vinci

SA (b)

7,230

141,083

Material

(2%)

160,200

CRH

PLC

15,291

53,400

Nucor

Corp.

7,640

22,931

Technology

(10%)

25,300

Broadcom

Inc.

7,431

253,900

Cisco

Systems

Inc.

17,286

53,700

International

Business

Machines

Corp.

13,594

26,100

Microsoft

Corp.

13,924

34,100

NXP

Semiconductors

NV

7,290

78,800

Oracle

Corp.

19,997

218,600

SS&C

Technologies

Holdings

Inc.

18,686

98,208

Utility

(6%)

365,900

Dominion

Energy

Inc.

21,387

229,800

Duke

Energy

Corp.

27,953

344,800

Exelon

Corp.

15,495

64,835

Total

Common

Stock

946,037

Master

Limited

Partnership

(2%)

730,100

Energy

Transfer

LP

13,171

408,900

Enterprise

Products

Partners

LP

12,672

Total

Master

Limited

Partnership

25,843

Real

Estate

Investment

Trust

(3%)

61,500

American

Tower

Corp.

12,816

68,400

Prologis

Inc.

7,304

59,800

Simon

Property

Group

Inc.

9,794

Total

Real

Estate

Investment

Trust

29,914

Total

Stock

(Cost

-

$839,989)

1,001,794

Corporate

Bond

(0%)

2,800,000

Land

O'

Lakes

Inc.

144A,

7.00% (c)(d)

2,340

Total

Corporate

Bond

(Cost

-

$2,800)

2,340

Investment

Company

(2%)

16,297,219

Payden

Cash

Reserves

Money

Market

Fund\*

(Cost - $16,297)

16,297

Total

Investments

(Cost

-

$859,086)

(99%)

1,020,431

Other

Assets,

net

of

Liabilities

(1%)

9,591

Net

Assets

(100%)

$

1,030,022

\*

Affiliated

investment.

(a) Non-income

producing

(b) Principal

in

foreign

currency.

(c) Security

offered

only

to

qualified

institutional

investors,

and

thus

is

not

registered

for

sale

to

the

public

under

rule

144A

of

the

Securities

Act

of

1933. It

has

been

deemed

liquid

under

guidelines

approved

by

the

Board.

(d) Perpetual

security

with

no

stated

maturity

date.

#### Payden

#### Mutual

#### Funds

#### Payden

#### Equity

#### Income

#### Fund
*continued*

#### Open

#### Forward

#### Currency

#### Contracts

#### to

#### USD
Currency

Purchased

(000s)

Currency

Sold

(000s)

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

(000s)

Assets:

USD

10,315

GBP 7,595

Barclays

Bank

PLC

09/17/2025

$

USD

33,210

EUR 28,495

HSBC

Bank

USA,

N.A.

09/17/2025

586

USD

8,027

GBP 5,897

Morgan

Stanley

09/17/2025

USD

11,058

EUR 9,417

Wells

Fargo

Securities

LLC

09/17/2025

1,377

Liabilities:

EUR

8,065

USD 9,519

HSBC

Bank

USA,

N.A.

09/17/2025

(285) Net

Unrealized

Appreciation

(Depreciation)

$1,092

## 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 Equity Income Fund

- **b. EDGAR series identifier (if any):** S000011766

- **c. LEI of Series:** 549300L8QNASEIIT7I11

**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:** $1034771454.08

**Total Liabilities:** $4731205.19

**Net Assets:** $1030040248.89

**Cash Not Reported:** $7537799.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032191 | 4.37%                | 3.28%                | 0.42%                |
| Class ID C000146917 | 4.29%                | 3.30%                | 0.48%                |
| Class ID C000110231 | 4.32%                | 3.29%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3591847.73              | $34234439.10                               |
| Month 2  | $5764870.35              | $25602282.48                               |
| Month 3  | $6387498.36              | $-3947013.01                               |

**Designated Index Information**

- **Index Name:** Russell 1000 Value Index (Total Return)

- **Index Identifier:** RS1000V

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mondelez International Inc             | Mondelez International Inc             | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    109700 | NS      | $7096493.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                  | AECOM                                  | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |    139900 | NS      | $15772326.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV          | Koninklijke Ahold Delhaize NV          | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |    247800 | NS      | $9784511.86   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                     | Meta Platforms Inc                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     24400 | NS      | $18871936.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                | CRH PLC                                | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | US        |    160200 | NS      | $15291090.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                         | S&P Global Inc                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     19600 | NS      | $10801560.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                             | Deere & Co                             | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     15000 | NS      | $7865550.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                             | Nucor Corp                             | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     53400 | NS      | $7639938.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                           | Danaher Corp                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     89300 | NS      | $17606388.00  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                           | GBP/USD FORWARD                        | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $279656.89    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SS&C Technologies Holdings Inc         | SS&C Technologies Holdings Inc         | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    218600 | NS      | $18685928.00  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                  | Costco Wholesale Corp                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      9500 | NS      | $8926580.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                      | NatWest Group PLC                      | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |   1511100 | NS      | $10516992.31  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/EUR FORWARD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-285426.34   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                    | Dominion Energy Inc                    | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    365900 | NS      | $21386855.00  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                               | NIKE Inc                               | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    100500 | NS      | $7506345.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                  | Quest Diagnostics Inc                  | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     85900 | NS      | $14380519.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                            | Corning Inc                            | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |    211600 | NS      | $13381584.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                         | Morgan Stanley                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    165300 | NS      | $23548638.00  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc                   | Jacobs Solutions Inc                   | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112800 | NS      | $16002936.00  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                              | Linde PLC                              | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |     21800 | NS      | $10033668.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L         | Enterprise Products Partners LP        | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |    408900 | NS      | $12671811.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                       | Exxon Mobil Corp                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    164700 | NS      | $18387108.00  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                | Procter & Gamble Co/The                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     64400 | NS      | $9690268.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co                | Arthur J Gallagher & Co                | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     54900 | NS      | $15770025.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                         | Merck & Co Inc                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     92300 | NS      | $7210476.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/EUR FORWARD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $586044.86    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                      | Johnson & Johnson                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     64900 | NS      | $10691626.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC            | USD/EUR FORWARD                        | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              | CORP              | US        |         1 | NC      | $275702.28    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                       | Wells Fargo & Co                       | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    332400 | NS      | $26801412.00  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                    | American Tower Corp                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     33400 | NS      | $6960226.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                         | Eli Lilly & Co                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     12300 | NS      | $9102861.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                        | T-Mobile US Inc                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     52200 | NS      | $12445002.00  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Payden Cash Reserves Money Market Fund | Payden Cash Reserves Money Market Fund | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |  13476496 | NS      | $13476496.14  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                    | General Electric Co                    | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     83700 | NS      | $22689396.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                            | Walmart Inc                            | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    179400 | NS      | $17577612.00  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                       | Duke Energy Corp                       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    229800 | NS      | $27952872.00  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                         | Microsoft Corp                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     26100 | NS      | $13924350.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                            | MetLife Inc                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     98200 | NS      | $7458290.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                       | Coca-Cola Co/The                       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    133200 | NS      | $9042948.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                           | Prologis Inc                           | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     68400 | NS      | $7303752.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                        | Cigna Group/The                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     25900 | NS      | $6925142.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                               | Vinci SA                               | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     52100 | NS      | $7229912.83   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                        | McDonald's Corp                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     17500 | NS      | $5251225.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                               | Visa Inc                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     57100 | NS      | $19726337.00  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC               | GBP/USD FORWARD                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $235865.64    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                    | Gilead Sciences Inc                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     90200 | NS      | $10128558.00  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                | ITT Inc                                | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     73100 | NS      | $12424076.00  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                    | International Business Machines Corp   | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     53700 | NS      | $13594155.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviva PLC                              | Aviva PLC                              | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    959800 | NS      | $8221393.32   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp                   | Lockheed Martin Corp                   | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     20400 | NS      | $8587992.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                            | Exelon Corp                            | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    210600 | NS      | $9464364.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                         | Eaton Corp PLC                         | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     32900 | NS      | $12657288.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND O'LAKES INC                       | Land O' Lakes Inc                      | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2339680.00   | 0.23%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                           | Stryker Corp                           | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     47900 | NS      | $18811767.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd            | Royal Caribbean Cruises Ltd            | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |     20500 | NS      | $6516335.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                          | Blackrock Inc                          | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |     20500 | NS      | $22673205.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                    | American Express Co                    | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     58800 | NS      | $17599428.00  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                           | Broadcom Inc                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     25300 | NS      | $7430610.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                  | NXP Semiconductors NV                  | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     34100 | NS      | $7289557.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                      | Cisco Systems Inc                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    253900 | NS      | $17285512.00  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc               | Ameriprise Financial Inc               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     24300 | NS      | $12592017.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                   | Bank of America Corp                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    550900 | NS      | $26041043.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                            | Cummins Inc                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     22000 | NS      | $8087640.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                          | McKesson Corp                          | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     28200 | NS      | $19557828.00  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                        | TJX Cos Inc/The                        | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    125400 | NS      | $15616062.00  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                               | RTX Corp                               | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     76400 | NS      | $12038348.00  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                             | Nasdaq Inc                             | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     87400 | NS      | $8409628.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                     | Energy Transfer LP                     | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |    730100 | NS      | $13171004.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                            | Oracle Corp                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     78800 | NS      | $19997076.00  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                   | Booking Holdings Inc                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1500 | NS      | $8256090.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                         | Amazon.com Inc                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    135700 | NS      | $31768727.00  | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc             | Verizon Communications Inc             | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    313000 | NS      | $13383880.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                           | Alphabet Inc                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    165800 | NS      | $31817020.00  | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                    | JPMorgan Chase & Co                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    143700 | NS      | $42569688.00  | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc               | Simon Property Group Inc               | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     59800 | NS      | $9794642.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc                 | Berkshire Hathaway Inc                 | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     16100 | NS      | $7597268.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                  | Schneider Electric SE                  | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     58800 | NS      | $15316159.32  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                   | Williams Cos Inc/The                   | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    171500 | NS      | $10281425.00  | 1.00%             |  |  |  | No            |                  1 | 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