5 YEAR U.S. TREASURY NOTE

NPORT-P false 0000885709 XXXXXXXX S000011758 C000032183 PAYDEN & RYGEL INVESTMENT GROUP 811-06625 0000885709 549300QJNYRKYZS3P282 333 South Grand Avenue 32nd Floor Los Angeles 90071 213-625-1900 Payden U.S. Government Fund S000011758 S05DF751G46NXE21NJ26 2025-10-31 2025-04-30 N 68408910.02 260628.10 68148281.92 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 333677.35000000 USD N ICE BofA Treasury 1-5 Yr Index (GVQ0) GVQ0 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 5 YEAR U.S. TREASURY NOTE 000000000 112.00000000 NC USD 234389.36000000 0.343940233555 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Long US TREASURY N/B United States Treasury Note/Bond 2025-06-30 11995485.36000000 USD 234389.36000000 N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae I Pool 3620AE5N6 222333.10000000 PA USD 226021.07000000 0.331660701681 Long ABS-MBS USGA US N 2 2029-10-15 Fixed 5.50000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140J8TK9 270368.43000000 PA USD 263751.06000000 0.387025252242 Long ABS-MBS USGSE US N 2 2033-06-01 Fixed 3.00000000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae II Pool 36196UV73 428176.22000000 PA USD 406971.73000000 0.597185605468 Long ABS-MBS USGA US N 2 2037-12-20 Fixed 3.25000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Pool 3132D6C57 599390.43000000 PA USD 603724.27000000 0.885898005042 Long ABS-MBS USGSE US N 2 2037-10-01 Fixed 5.00000000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Government National Mortgage Association 38379B3Q9 94953.17000000 PA USD 1223.53000000 0.001795393758 Long ABS-MBS USGA US N 2 2029-07-20 Variable 0.01000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 31418EMT4 1531506.80000000 PA USD 1533793.71000000 2.250671134747 Long ABS-MBS USGSE US N 2 2053-01-01 Fixed 5.50000000 N N N N N N FannieMae Grantor Trust N/A Fannie Mae Grantor Trust 2017-T1 3136AV6R5 731281.61000000 PA USD 711594.85000000 1.044186045416 Long ABS-MBS USGSE US N 2 2027-06-25 Fixed 2.89800000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140L9CC0 712858.03000000 PA USD 647799.89000000 0.950574059607 Long ABS-MBS USGSE US N 2 2051-05-01 Floating 1.91800000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Non Gold Pool 31288Q6Q8 959358.73000000 PA USD 946531.02000000 1.388928661636 Long ABS-MBS USGSE US N 2 2054-06-01 Floating 4.44400000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CJT9 7700000.00000000 PA USD 7743162.12000000 11.36222645948 Long DBT UST US N 2 2027-01-15 Fixed 4.00000000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 10 YEAR U.S. TREASURY NOTE 000000000 10.00000000 NC USD 25200.40000000 0.036978775238 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Long US TREASURY N/B United States Treasury Note/Bond 2025-06-18 1096987.10000000 USD 25200.40000000 N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CJP7 6000000.00000000 PA USD 6064804.68000000 8.899424180817 Long DBT UST US N 2 2026-12-15 Fixed 4.37500000 N N N N N N FRESB Multifamily Mortgage Pas N/A FRESB 2020-SB79 Mortgage Trust 30316VAC1 897007.74000000 PA USD 884599.07000000 1.298050435135 Long ABS-MBS USGSE US N 2 2040-07-25 Variable 0.80000000 N N N N N N Fanniemae-Aces B1V7KEBTPIMZEU4LTD58 Fannie Mae-Aces 3136AY6U2 1553381.56000000 PA USD 1524172.55000000 2.236553155939 Long ABS-MBS USGSE US N 2 2027-11-25 Variable 3.20611700 N N N N N N FRESB Multifamily Mortgage Pas N/A FRESB 2021-SB83 Mortgage Trust 30318NAA1 764236.45000000 PA USD 746120.22000000 1.094848173686 Long ABS-MBS USGSE US N 2 2026-01-25 Variable 0.63000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140JB6C5 1199206.80000000 PA USD 1216042.68000000 1.784406951634 Long ABS-MBS USGSE US N 2 2053-03-01 Floating 5.15700000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 31418EVC1 745065.24000000 PA USD 750133.99000000 1.100737933321 Long ABS-MBS USGSE US N 2 2038-08-01 Fixed 5.00000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae REMICS 3136BRUU9 629657.79000000 PA USD 632734.86000000 0.928467808979 Long ABS-MBS USGSE US N 2 2046-12-25 Fixed 5.50000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CLG4 6000000.00000000 PA USD 6021093.72000000 8.835283224114 Long DBT UST US N 2 2027-08-15 Fixed 3.75000000 N N N N N N FHLMC Multifamily Structured P S6XOOCT0IEG5ABCC6L87 Freddie Mac Multifamily Structured Pass Through Certificates 3137BTUM1 1015258.15000000 PA USD 1001728.11000000 1.469924232537 Long ABS-MBS USGSE US N 2 2026-11-25 Variable 3.34700000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Non Gold Pool 3142BAKZ4 841744.31000000 PA USD 836052.71000000 1.226814068447 Long ABS-MBS USGSE US N 2 2052-07-01 Floating 4.44000000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 US ULTRA BOND CBT 000000000 -9.00000000 NC USD 4187.52000000 0.006144718372 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2025-06-18 -1093468.77000000 USD 4187.52000000 N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Non Gold Pool 3142BAC59 706397.95000000 PA USD 656853.68000000 0.963859486246 Long ABS-MBS USGSE US N 2 2051-08-01 Floating 1.53600000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3138WDUL3 223927.15000000 PA USD 217496.54000000 0.319151905040 Long ABS-MBS USGSE US N 2 2030-01-01 Fixed 2.50000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 31418ET67 810350.28000000 PA USD 811116.75000000 1.190223329404 Long ABS-MBS USGSE US N 2 2053-07-01 Fixed 5.50000000 N N N N N N FRESB Multifamily Mortgage Pas N/A FRESB 2019-SB59 Mortgage Trust 302970AG3 664636.03000000 PA USD 648950.95000000 0.952263111727 Long ABS-MBS USGSE US N 2 2029-01-25 Variable 3.47000000 N N N N N N Payden Cash Reserves Money Market Fund 549300SI0EB26HO5RT16 Payden Cash Reserves Money Market Fund 704329598 968247.34000000 NS USD 968247.34000000 1.420794938215 Long STIV RF US N 1 N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae II Pool 36176WKM2 211054.15000000 PA USD 209268.12000000 0.307077616785 Long ABS-MBS USGA US N 2 2032-02-20 Fixed 4.00000000 N N N N N N FHLMC Multifamily Structured P S6XOOCT0IEG5ABCC6L87 Freddie Mac Multifamily Structured Pass Through Certificates 3137HACX2 1200000.00000000 PA USD 1227028.08000000 1.800526800426 Long ABS-MBS USGSE US N 2 2028-06-25 Fixed 4.81900000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae II Pool 36176WKQ3 175510.51000000 PA USD 177215.85000000 0.260044486826 Long ABS-MBS USGA US N 2 2032-02-20 Fixed 4.75000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac REMICS 3137HFL60 627171.30000000 PA USD 626510.14000000 0.919333726909 Long ABS-MBS USGSE US N 2 2054-09-25 Floating 5.45369000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140XHUV7 1030007.87000000 PA USD 997382.14000000 1.463547006468 Long ABS-MBS USGSE US N 2 2037-07-01 Fixed 3.50000000 N N N N N N UK CLEARING HOUSE LIMITED 213800O8SCO4XJGBU385 IRS USD 000000000 1.00000000 NC USD -66762.93000000 -0.09796715062 N/A DIR CORP GB N 2 UK CLEARING HOUSE LIMITED 213800O8SCO4XJGBU385 Y 2029-08-31 0.00000000 USD 0.00000000 USD -4308000.00000000 USD -66762.93000000 N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Pool 3132DWGR8 824982.50000000 PA USD 825577.63000000 1.211443057316 Long ABS-MBS USGSE US N 2 2053-03-01 Fixed 5.50000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CGL9 1400000.00000000 PA USD 1399813.03000000 2.054069435885 Long DBT UST US N 2 2026-02-15 Fixed 4.00000000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae II Pool 36180B5S6 530479.98000000 PA USD 520120.39000000 0.763218639334 Long ABS-MBS USGA US N 2 2033-09-20 Fixed 3.75000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CHB0 6000000.00000000 PA USD 5984807.22000000 8.782036834069 Long DBT UST US N 2 2026-05-15 Fixed 3.62500000 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 Ginnie Mae II Pool 36196UVZ1 225720.19000000 PA USD 214607.99000000 0.314913280208 Long ABS-MBS USGA US N 2 2037-07-20 Fixed 3.25000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3138WGER1 140720.95000000 PA USD 137507.94000000 0.201777559354 Long ABS-MBS USGSE US N 2 2030-12-01 Fixed 3.00000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CGP0 4000000.00000000 PA USD 4043750.00000000 5.933751939259 Long DBT UST US N 2 2028-02-29 Fixed 4.00000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 31418EGC8 1001112.14000000 PA USD 965181.02000000 1.416295455743 Long ABS-MBS USGSE US N 2 2037-08-01 Fixed 3.50000000 N N N N N N FRESB Multifamily Mortgage Pas N/A FRESB 2018-SB56 Mortgage Trust 302966AL0 726508.37000000 PA USD 714265.61000000 1.048105087723 Long ABS-MBS USGSE US N 2 2028-10-25 Variable 3.70000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3138WH3X8 244898.76000000 PA USD 236393.05000000 0.346880425067 Long ABS-MBS USGSE US N 2 2031-09-01 Fixed 2.50000000 N N N N N N FHLMC Multifamily Structured P S6XOOCT0IEG5ABCC6L87 Freddie Mac Multifamily Structured Pass Through Certificates 3137BSP72 700000.00000000 PA USD 686540.54000000 1.007421640953 Long ABS-MBS USGSE US N 2 2026-08-25 Fixed 2.65300000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140QWBF8 959739.23000000 PA USD 969165.50000000 1.422142235570 Long ABS-MBS USGSE US N 2 2055-02-01 Floating 5.05900000 N N N N N N FHLMC Multifamily Structured P S6XOOCT0IEG5ABCC6L87 Freddie Mac Multifamily Structured Pass Through Certificates 3137FWGH7 297703.53000000 PA USD 297523.03000000 0.436581850074 Long ABS-MBS USGSE US N 2 2050-05-25 Variable 4.60579400 N N N N N N FRESB Multifamily Mortgage Pas N/A FRESB 2017-SB38 Mortgage Trust 30305LAJ1 744738.86000000 PA USD 724696.60000000 1.063411401700 Long ABS-MBS USGSE US N 2 2027-08-25 Variable 2.92000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae REMICS 31392B5T9 56449.00000000 PA USD 56622.57000000 0.083087303751 Long ABS-MBS USGSE US N 2 2032-02-25 Floating 5.21817000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Pool 3132D6DK3 1360819.95000000 PA USD 1370658.73000000 2.011288753558 Long ABS-MBS USGSE US N 2 2038-01-01 Fixed 5.00000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Pool 3132DWMJ9 1110225.91000000 PA USD 1089070.38000000 1.598089268455 Long ABS-MBS USGSE US N 2 2054-09-01 Fixed 5.00000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140KESC3 383168.83000000 PA USD 356652.98000000 0.523348454211 Long ABS-MBS USGSE US N 2 2050-05-01 Floating 2.29000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 Fannie Mae Pool 3140MFWY5 743487.53000000 PA USD 728407.57000000 1.068856836119 Long ABS-MBS USGSE US N 2 2052-06-01 Floating 3.77600000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 Freddie Mac Pool 3132DWL92 1448216.54000000 PA USD 1420844.81000000 2.084931226392 Long ABS-MBS USGSE US N 2 2054-08-01 Fixed 5.00000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 United States Treasury Note/Bond 91282CEW7 5500000.00000000 PA USD 5462187.50000000 8.015150706825 Long DBT UST US N 2 2027-06-30 Fixed 3.25000000 N N N N N N 2025-06-23 PAYDEN & RYGEL INVESTMENT GROUP Sandi Brents Sandi Brents Compliance Officer