Payden

Global

Fixed

Income

Fund

1

Schedule

of

Investments

-

July

31,

2024

(Unaudited)

Principal

or

Shares

Security

Description

Value

(000)

Bonds

(94%)

Australia

(AUD)

(1%

)

1,950,000

Australia

Government

Bond

Series

145,

2.75%,

6/21/35 (a)(b)

$

1,119‌

Australia

(USD)

(1%

)

850,000

Macquarie

Bank

Ltd.

144A,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

1.700%),

3.05%,

3/03/36 (c)(d)

725‌

Austria

(EUR)

(0%

)

175,000

ams-OSRAM

AG

,

10.50%,

3/30/29 (a)(b)

199‌

190,000

Republic

of

Austria

Government

Bond

144A,

3.15%,

6/20/44 (a)(b)(d)

208‌

407‌

Austria

(USD)

(0%

)

175,000

ams-OSRAM

AG

144A,

12.25%,

3/30/29 (d)

185‌

Belgium

(EUR)

(0%

)

400,000

KBC

Group

NV

,

(3

mo.

EURIBOR

+

1.300%),

4.25%,

11/28/29 (a)(b)(c)

448‌

200,000

Kingdom

of

Belgium

Government

Bond

Series

75

144A,

1.00%,

6/22/31 (a)(b)(d)

194‌

410,000

Kingdom

of

Belgium

Government

Bond

Series

78

144A,

1.60%,

6/22/47 (a)(b)(d)

323‌

965‌

Bermuda

(USD)

(0%

)

200,000

Bermuda

Government

International

Bond

144A,

3.38%,

8/20/50 (d)

140‌

390,134

Eagle

RE

Ltd.

2021-2

144A,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

2.050%),

7.40%,

4/25/34 (c)(d)

391‌

300,000

Geopark

Ltd.

144A,

5.50%,

1/17/27 (d)

282‌

550,000

RR

Ltd.

2022-24A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.730%),

7.03%,

1/15/36 (c)(d)

552‌

1,365‌

Brazil

(USD)

(0%

)

400,000

Brazilian

Government

International

Bond

,

6.13%,

1/22/32 

399‌

Canada

(CAD)

(2%

)

1,480,000

Canadian

Government

Bond

,

3.50%,

12/01/45 (b)

1,114‌

600,000

Canadian

Government

Bond

,

5.00%,

6/01/37 (b)

516‌

775,000

Cologix

Canadian

Issuer

LP

2022-1CAN

144A,

4.94%,

1/25/52 (b)(d)

532‌

500,000

OMERS

Finance

Trust

144A,

2.60%,

5/14/29 (b)(d)

347‌

700,000

Ontario

Teachers'

Finance

Trust

144A,

1.10%,

10/19/27 (b)(d)

470‌

2,979‌

Canada

(USD)

(1%

)

350,000

Bank

of

Montreal

,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

3.452%),

7.70%,

5/26/84 (c)

361‌

575,000

TELUS

Corp.

,

3.40%,

5/13/32 

511‌

325,000

Toronto-Dominion

Bank

,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

4.075%),

8.13%,

10/31/82 (c)

340‌

1,212‌

Principal

or

Shares

Security

Description

Value

(000)

Cayman

Islands

(USD)

(4%

)

500,000

Apidos

CLO

XXXII

2019-32A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.800%),

7.08%,

1/20/33 (c)(d)

$

500‌

250,000

FS

Rialto

2021-FL3

144A,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

2.614%),

7.94%,

11/16/36 (c)(d)

235‌

1,350,000

HGI

CRE

CLO

Ltd.

2021-FL2

144A,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

1.914%),

7.24%,

9/17/36 (c)(d)

1,325‌

900,000

Ocean

Trails

CLO

VII

2019-7A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

2.712%),

8.00%,

4/17/30 (c)(d)

902‌

250,000

STWD

Ltd.

2021-FL2

144A,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

2.914%),

8.25%,

4/18/38 (c)(d)

235‌

400,000

Symphony

CLO

XXIV

Ltd.

2020-24A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.912%),

7.19%,

1/23/32 (c)(d)

401‌

300,000

Transocean

Inc.

144A,

8.25%,

5/15/29 (d)

307‌

350,000

Transocean

Inc.

144A,

8.50%,

5/15/31 (d)

358‌

450,000

TRTX

Issuer

Ltd.

2021-FL4

144A,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

2.514%),

7.85%,

3/15/38 (c)(d)

427‌

4,690‌

Chile

(EUR)

(1%

)

550,000

Chile

Government

International

Bond

,

4.13%,

7/05/34 (b)

609‌

Colombia

(USD)

(0%

)

350,000

Colombia

Government

International

Bond

,

7.38%,

9/18/37 

346‌

Czech

Republic

(CZK)

(0%

)

3,600,000

Czech

Republic

Government

Bond

Series

125,

1.50%,

4/24/40 (b)

110‌

Denmark

(DKK)

(0%

)

650,000

Denmark

Government

Bond

,

4.50%,

11/15/39 (b)

118‌

Denmark

(EUR)

(0%

)

400,000

Danske

Bank

A/S

,

(ICE

1Year

Euribor

Swap

Fix

+

1.700%),

4.75%,

6/21/30 (a)(b)(c)

458‌

Denmark

(USD)

(0%

)

350,000

Danske

Bank

A/S

,

(Treasury

7

year

constant

maturity

+

4.130%),

7.00% (a)(c)(e)

351‌

Dominican

Republic

(USD)

(0%

)

300,000

Dominican

Republic

International

Bond

144A,

7.05%,

2/03/31 (d)

316‌

Finland

(EUR)

(0%

)

170,000

Finland

Government

Bond

Series

16Y

144A,

2.75%,

7/04/28 (a)(b)(d)

185‌

Finland

(USD)

(0%

)

325,000

Nordea

Bank

Abp

,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

4.110%),

6.63% (a)(c)(e)

325‌

France

(EUR)

(2%

)

1,100,000

French

Republic

Government

Bond

OAT

Series

OAT

144A,

0.50%,

6/25/44 (a)(b)(d)

707‌

750,000

French

Republic

Government

Bond

OAT

Series

OAT

144A,

1.25%,

5/25/36 (a)(b)(d)

665‌

20,000

French

Republic

Government

Bond

OAT

Series

OAT

144A,

1.75%,

11/25/24 (a)(b)(d)

22‌

2

Payden

Mutual

Funds

Payden

Global

Fixed

Income

Fund

continued

Principal

or

Shares

Security

Description

Value

(000)

1,800,000

French

Republic

Government

Bond

OAT

Series

OAT

144A,

2.50%,

5/25/30 (a)(b)(d)

$

1,925‌

350,000

Mobilux

Finance

SAS

144A,

7.00%,

5/15/30 (b)(d)

385‌

3,704‌

France

(USD)

(1%

)

400,000

BPCE

SA

144A,

2.38%,

1/14/25 (d)

394‌

550,000

Credit

Agricole

SA

144A,

5.51%,

7/05/33 (d)

571‌

965‌

Germany

(EUR)

(2%

)

1,500,000

Bundesobligation

Series

185,

2.69%,

4/16/27 (a)(b)(f)

1,524‌

500,000

Deutsche

Bank

AG

,

(3

mo.

EURIBOR

+

2.950%),

5.00%,

9/05/30 (a)(b)(c)

569‌

2,093‌

Guatemala

(USD)

(0%

)

300,000

Guatemala

Government

Bond

144A,

6.55%,

2/06/37 (d)

301‌

Hungary

(HUF)

(1%

)

425,000,000

Hungary

Government

Bond

Series

38/A,

3.00%,

10/27/38 (b)

801‌

Indonesia

(IDR)

(0%

)

4,440,000,000

Indonesia

Treasury

Bond

Series

FR87,

6.50%,

2/15/31 (b)

268‌

Indonesia

(USD)

(0%

)

350,000

Sorik

Marapi

Geothermal

Power

PT

144A,

7.75%,

8/05/31 (d)

352‌

Ireland

(EUR)

(5%

)

349,988

Avoca

CLO

XIV

DAC

14A

144A,

(3

mo.

EURIBOR

+

0.810%),

4.51%,

1/12/31 (b)(c)

(d)

379‌

325,000

Bank

of

Ireland

Group

PLC

,

(5

yr.

Euro

Swap

+

6.434%),

6.00% (a)(b)(c)(e)

353‌

500,000

Bridgepoint

CLO

V

DAC

5A

144A,

(3

mo.

EURIBOR

+

1.800%),

5.49%,

4/15/36 (b)(c)

(d)

545‌

450,000

Cairn

CLO

2023-17A

144A,

(3

mo.

EURIBOR

+

1.800%),

5.47%,

10/18/36 (b)(c)(d)

491‌

425,000

Flutter

Treasury

Designated

Activity

Co.

144A,

5.00%,

4/29/29 (b)(d)

472‌

420,000

Harvest

CLO

XVI

DAC

16A

144A,

(3

mo.

EURIBOR

+

1.300%),

4.99%,

10/15/31 (b)

(c)(d)

452‌

250,000

Ireland

Government

Bond

,

1.10%,

5/15/29 (a)

(b)

254‌

300,000

Jubilee

CLO

DAC

2019-23A

144A,

(3

mo.

EURIBOR

+

3.500%),

7.19%,

7/15/37 (b)(c)

(d)

325‌

216,008

Last

Mile

Logistics

Pan

Euro

Finance

DAC

1A

144A,

(3

mo.

EURIBOR

+

1.900%),

5.72%,

8/17/33 (b)(c)(d)

233‌

903,308

Last

Mile

Logistics

Pan

Euro

Finance

DAC

1X,

(3

mo.

EURIBOR

+

2.700%),

6.52%,

8/17/33 (a)(b)(c)

957‌

239,951

Last

Mile

Securities

PE

DAC

2021-1A

144A,

(3

mo.

EURIBOR

+

2.350%),

6.17%,

8/17/31 (b)

(c)(d)

258‌

900,000

Palmer

Square

European

CLO

DAC

2021-1A

144A,

(3

mo.

EURIBOR

+

0.870%),

4.56%,

4/15/34 (b)(c)(d)

971‌

Principal

or

Shares

Security

Description

Value

(000)

290,000

Palmer

Square

European

Loan

Funding

DAC

2024-1A

144A,

(3

mo.

EURIBOR

+

2.070%),

5.94%,

8/15/33 (b)(c)(d)

$

315‌

525,000

Permanent

TSB

Group

Holdings

PLC

,

(ICE

1Year

Euribor

Swap

Fix

+

3.500%),

6.63%,

4/25/28 (a)(b)(c)

606‌

275,000

Permanent

TSB

Group

Holdings

PLC

,

(5

yr.

Euro

Swap

+

10.546%),

13.25% (a)(b)(c)(e)

351‌

750,000

Sculptor

European

CLO

V

DAC

5A

144A,

(3

mo.

EURIBOR

+

1.750%),

5.44%,

1/14/32 (b)

(c)(d)

812‌

500,000

Texas

Debt

Capital

Euro

CLO

DAC

2024-1A

144A,

(3

mo.

EURIBOR

+

2.550%),

6.25%,

7/16/38 (b)(c)(d)

542‌

8,316‌

Ireland

(GBP)

(0%

)

200,000

UK

Logistics

DAC

2024-1A

144A,

(Sterling

Overnight

Index

Average

+

1.650%),

0.00%,

5/17/34 (b)(c)(d)(f)

258‌

Ireland

(USD)

(0%

)

400,000

AerCap

Ireland

Capital

DAC/AerCap

Global

Aviation

Trust

,

3.30%,

1/30/32 

352‌

Italy

(EUR)

(4%

)

175,000

doValue

SpA

144A,

3.38%,

7/31/26 (b)(d)

183‌

2,460,000

Italy

Buoni

Poliennali

Del

Tesoro

Series

10Y

144A,

0.60%,

8/01/31 (a)(b)(d)

2,219‌

1,400,000

Italy

Buoni

Poliennali

Del

Tesoro

Series

10Y,

2.50%,

12/01/32 (a)(b)

1,415‌

375,000

UniCredit

SpA

,

(3

mo.

EURIBOR

+

1.600%),

4.45%,

2/16/29 (a)(b)(c)

419‌

4,236‌

Italy

(USD)

(1%

)

350,000

Intesa

Sanpaolo

SpA

144A,

(5

yr.

Swap

Semi

30/360

USD

+

5.462%),

7.70% (c)(d)(e)

350‌

650,000

Intesa

Sanpaolo

SpA

144A,

(1

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

3.900%),

7.78%,

6/20/54 (c)(d)

699‌

1,049‌

Japan

(JPY)

(5%

)

487,400,000

Japan

Government

Ten

Year

Bond

Series

341,

0.30%,

12/20/25 (b)

3,253‌

235,000,000

Japan

Government

Thirty

Year

Bond

Series

58,

0.80%,

3/20/48 (b)

1,214‌

213,200,000

Japan

Government

Thirty

Year

Bond

Series

49,

1.40%,

12/20/45 (b)

1,294‌

10,000,000

Japan

Government

Thirty

Year

Bond

Series

31,

2.20%,

9/20/39 (b)

72‌

10,000,000

Japan

Government

Thirty

Year

Bond

Series

30,

2.30%,

3/20/39 (b)

74‌

260,500,000

Japan

Government

Twenty

Year

Bond

Series

104,

2.10%,

6/20/28 (b)

1,842‌

7,749‌

Japan

(USD)

(0%

)

490,000

Nissan

Motor

Co.

Ltd.

144A,

4.81%,

9/17/30 (d)

462‌

Jersey

(EUR)

(1%

)

300,000

Avis

Budget

Finance

PLC

144A,

7.25%,

7/31/30 (b)(d)

320‌

3

Principal

or

Shares

Security

Description

Value

(000)

450,000

Heathrow

Funding

Ltd.

,

1.13%,

10/08/30 (a)

(b)

$

423‌

743‌

Jersey

(USD)

(1%

)

650,000

GoldenTree

Loan

Management

U.S.

CLO

Ltd.

2022-16A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.670%),

6.95%,

1/20/34 (c)(d)

654‌

250,000

Juniper

Valley

Park

CLO

Ltd.

2023-1A

144A,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.250%),

6.53%,

7/20/36 (c)(d)

250‌

904‌

Luxembourg

(USD)

(1%

)

300,000

Greensaif

Pipelines

Bidco

Sarl

144A,

5.85%,

2/23/36 (d)

302‌

400,000

Minerva

Luxembourg

SA

144A,

8.88%,

9/13/33 (d)

422‌

724‌

Malaysia

(MYR)

(1%

)

1,700,000

Malaysia

Government

Bond

Series

0307,

3.50%,

5/31/27 (b)

372‌

1,300,000

Malaysia

Government

Bond

Series

0222,

4.70%,

10/15/42 (b)

308‌

680‌

Mexico

(MXN)

(1%

)

11,660,000

Mexican

Bonos

Series

M,

5.75%,

3/05/26 (b)

582‌

7,760,000

Mexican

Bonos

Series

M,

8.50%,

5/31/29 (b)

397‌

979‌

Mexico

(USD)

(0%

)

250,000

Mexico

Government

International

Bond

,

6.34%,

5/04/53 

240‌

400,000

Petroleos

Mexicanos

,

5.95%,

1/28/31 

330‌

570‌

Morocco

(USD)

(0%

)

250,000

OCP

SA

144A,

7.50%,

5/02/54 (d)

259‌

Netherlands

(EUR)

(3%

)

300,000

ABN

AMRO

Bank

NV

,

(5

yr.

Euro

Swap

+

4.239%),

6.88% (a)(b)(c)(e)

335‌

300,000

BE

Semiconductor

Industries

NV

144A,

4.50%,

7/15/31 (b)(d)

325‌

450,000

Enel

Finance

International

NV

,

3.88%,

3/09/29 (a)(b)

502‌

500,000

JAB

Holdings

BV

,

5.00%,

6/12/33 (a)(b)

589‌

300,000

LKQ

Dutch

Bond

BV

,

4.13%,

3/13/31 (b)

329‌

530,000

Netherlands

Government

Bond

144A,

4.00%,

1/15/37 (a)(b)(d)

653‌

525,000

Sagax

Euro

Mtn

NL

BV

,

0.75%,

1/26/28 (a)(b)

516‌

650,000

Teva

Pharmaceutical

Finance

Netherlands

II

BV

,

3.75%,

5/09/27 (b)

694‌

3,943‌

New

Zealand

(USD)

(0%

)

550,000

ASB

Bank

Ltd.

144A,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

2.250%),

5.28%,

6/17/32 (c)(d)

548‌

Norway

(USD)

(0%

)

350,000

Var

Energi

ASA

144A,

7.50%,

1/15/28 (d)

371‌

Principal

or

Shares

Security

Description

Value

(000)

Paraguay

(USD)

(1%

)

240,000

Paraguay

Government

International

Bond

144A,

4.70%,

3/27/27 (d)

$

236‌

450,000

Paraguay

Government

International

Bond

144A,

5.85%,

8/21/33 (d)

458‌

694‌

Peru

(PEN)

(1%

)

7,100,000

Peru

Government

Bond

,

5.35%,

8/12/40 (b)

1,560‌

Poland

(PLN)

(0%

)

410,000

Republic

of

Poland

Government

Bond

Series

1029,

2.75%,

10/25/29 (b)

92‌

Poland

(USD)

(0%

)

320,000

Bank

Gospodarstwa

Krajowego

144A,

5.75%,

7/09/34 (d)

330‌

Romania

(EUR)

(0%

)

150,000

Romanian

Government

International

Bond

144A,

6.63%,

9/27/29 (b)(d)

176‌

Singapore

(SGD)

(0%

)

280,000

Singapore

Government

Bond

,

3.50%,

3/01/27 (b)

213‌

Spain

(EUR)

(3%

)

400,000

Abanca

Corp.

Bancaria

SA

,

(5

yr.

Euro

Swap

+

6.570%),

6.00% (a)(b)(c)(e)

426‌

400,000

Banco

Bilbao

Vizcaya

Argentaria

SA

,

(5-Year

Mid-Swap

Rate

+

5.544%),

8.38% (a)(b)(c)(e)

466‌

500,000

Banco

de

Sabadell

SA

,

(1Year

Euribor

Swap

Rate

+

2.400%),

5.25%,

2/07/29 (a)(b)(c)

570‌

500,000

CaixaBank

SA

,

(3

mo.

EURIBOR

+

1.650%),

5.00%,

7/19/29 (a)(b)(c)

570‌

200,000

CaixaBank

SA

,

(5

yr.

Euro

Swap

+

6.346%),

5.88% (a)(b)(c)(e)

216‌

500,000

International

Consolidated

Airlines

Group

SA

,

3.75%,

3/25/29 (a)(b)

537‌

450,000

Spain

Government

Bond

144A,

1.25%,

10/31/30 (a)(b)(d)

445‌

860,000

Spain

Government

Bond

144A,

2.90%,

10/31/46 (a)(b)(d)

833‌

4,063‌

Spain

(USD)

(1%

)

600,000

Banco

Santander

SA

,

(1

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

0.900%),

1.72%,

9/14/27 (c)

557‌

Sri

Lanka

(USD)

(0%

)

350,000

Sri

Lanka

Government

International

Bond

,

6.85%,

11/03/25 (a)

200‌

Supranational

(USD)

(0%

)

336,555

Borr

IHC

Ltd./Borr

Finance

LLC

144A,

10.00%,

11/15/28 (d)

353‌

Sweden

(SEK)

(0%

)

2,900,000

Sweden

Government

Bond

Series

1059,

1.00%,

11/12/26 (a)(b)

264‌

Sweden

(USD)

(0%

)

400,000

Swedbank

AB

,

(5

yr.

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

3.589%),

7.63% (a)(c)(e)

404‌

Switzerland

(CHF)

(1%

)

1,050,000

Swiss

Confederation

Government

Bond

,

0.50%,

5/27/30 (a)(b)

1,198‌

4

Payden

Mutual

Funds

Payden

Global

Fixed

Income

Fund

continued

Principal

or

Shares

Security

Description

Value

(000)

Switzerland

(USD)

(1%

)

500,000

UBS

Group

AG

144A,

(U.S.

Secured

Overnight

Financing

Rate

+

5.020%),

9.02%,

11/15/33 (c)(d)

$

617‌

Thailand

(THB)

(1%

)

43,300,000

Thailand

Government

Bond

,

1.59%,

12/17/35 (b)

1,088‌

Turkey

(USD)

(0%

)

300,000

Limak

Cimento

Sanayi

ve

Ticaret

AS

144A,

9.75%,

7/25/29 (d)

301‌

United

Arab

Emirates

(EUR)

(0%

)

300,000

Finance

Department

Government

of

Sharjah

144A,

4.63%,

1/17/31 (b)(d)

325‌

United

Kingdom

(EUR)

(1%

)

200,000

Amber

Finco

PLC

144A,

6.63%,

7/15/29 (b)(d)

224‌

400,000

Mobico

Group

PLC

,

4.88%,

9/26/31 (a)(b)

429‌

325,000

Tesco

Corporate

Treasury

Services

PLC

,

4.25%,

2/27/31 (a)(b)

365‌

1,018‌

United

Kingdom

(GBP)

(3%

)

300,000

Barclays

PLC

,

(GBP

OIS

SONIA

5Y

+

4.881%),

8.50% (b)(c)(e)

388‌

275,000

NatWest

Group

PLC

,

(5

yr.

UK

Government

Bonds

Note

Generic

Bid

Yield

+

4.985%),

5.13% (b)(c)(e)

332‌

130,000

Sage

AR

Funding

No

1

PLC

1A

144A,

(Sterling

Overnight

Index

Average

+

3.000%),

8.23%,

11/17/30 (b)(c)(d)

166‌

100,000

United

Kingdom

Gilt

,

0.38%,

10/22/30 (a)(b)

105‌

1,500,000

United

Kingdom

Gilt

,

3.75%,

7/22/52 (a)(b)

1,694‌

600,000

United

Kingdom

Gilt

,

4.25%,

9/07/39 (a)(b)

768‌

3,453‌

United

Kingdom

(USD)

(0%

)

350,000

Anglo

American

Capital

PLC

144A,

5.50%,

5/02/33 (d)

351‌

United

States

(EUR)

(3%

)

350,000

Booking

Holdings

Inc.

,

4.13%,

5/12/33 (b)

399‌

525,000

Discovery

Communications

LLC

,

1.90%,

3/19/27 (b)

541‌

450,000

Duke

Energy

Corp.

,

3.75%,

4/01/31 (b)

487‌

450,000

Molson

Coors

Beverage

Co.

,

3.80%,

6/15/32 (b)

498‌

700,000

Morgan

Stanley

,

(3

mo.

EURIBOR

+

0.833%),

1.10%,

4/29/33 (b)(c)

633‌

850,000

MPT

Operating

Partnership

LP/MPT

Finance

Corp.

,

0.99%,

10/15/26 (b)

725‌

550,000

Prologis

Euro

Finance

LLC

,

4.00%,

5/05/34 (b)

608‌

400,000

Southern

Co.

,

(5

yr.

Euro

Swap

+

2.108%),

1.88%,

9/15/81 (b)(c)

396‌

4,287‌

United

States

(GBP)

(0%

)

350,000

General

Motors

Financial

Co.

Inc.

,

2.35%,

9/03/25 (a)(b)

436‌

United

States

(USD)

(38%

)

500,000

American

Homes

4

Rent

LP

,

2.38%,

7/15/31 

416‌

390,000

American

National

Group

Inc.

,

5.00%,

6/15/27 

386‌

850,000

American

Tower

Trust

144A,

5.49%,

3/15/28 (d)

865‌

249,600

Arbys

Funding

LLC

2020-1A

144A,

3.24%,

7/30/50 (d)

234‌

Principal

or

Shares

Security

Description

Value

(000)

350,000

Bank

of

America

Corp.

,

(3

mo.

Term

Secured

Overnight

Financing

Rate

+

1.472%),

3.97%,

2/07/30 (c)

$

337‌

575,000

Blackstone

Secured

Lending

Fund

,

2.75%,

9/16/26 

541‌

850,000

Blue

Owl

Capital

Corp.

,

3.75%,

7/22/25 

834‌

425,000

Boeing

Co.

,

2.20%,

2/04/26 

405‌

600,000

Boeing

Co.

144A,

6.53%,

5/01/34 (d)

630‌

550,000

Broadcom

Inc.

144A,

3.50%,

2/15/41 (d)

433‌

596,146

BX

Trust

2024-CNYN

144A,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

1.442%),

6.77%,

4/15/41 (c)(d)

593‌

2,225,495

Cantor

Commercial

Real

Estate

Lending

2019-

CF1,

1.12%,

5/15/52 (g)

81‌

265,689

CARS-DB4

LP

2020-1A

144A,

3.25%,

2/15/50 (d)

237‌

220,000

Centene

Corp.

,

4.25%,

12/15/27 

213‌

750,000

Charter

Communications

Operating

LLC/

Charter

Communications

Operating

Capital

,

4.80%,

3/01/50 

567‌

550,000

Civitas

Resources

Inc.

144A,

8.75%,

7/01/31 (d)

592‌

296,985

Connecticut

Avenue

Securities

Trust

2024-

R04

144A,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

1.000%),

6.35%,

5/25/44 (c)(d)

298‌

263,477

Connecticut

Avenue

Securities

Trust

2024-

R02

144A,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

1.100%),

6.45%,

2/25/44 (c)(d)

264‌

349,817

Connecticut

Avenue

Securities

Trust

2024-

R03

144A,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

1.150%),

6.50%,

3/25/44 (c)(d)

350‌

500,000

CyrusOne

Data

Centers

Issuer

I

LLC

2024-2A

144A,

4.50%,

5/20/49 (d)

471‌

550,000

Energy

Transfer

LP

,

5.75%,

2/15/33 

564‌

475,000

Equinix

Inc.

,

2.50%,

5/15/31 

408‌

435,000

Evergy

Inc.

,

2.90%,

9/15/29 

397‌

480,000

Extra

Space

Storage

LP

,

2.20%,

10/15/30 

410‌

198,751

Fannie

Mae

Connecticut

Avenue

Securities

2016-C07,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

9.614%),

14.96%,

5/25/29 (c)

228‌

492,990

Fannie

Mae

Connecticut

Avenue

Securities

2016-C04,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

10.364%),

15.71%,

1/25/29 (c)

563‌

496,684

Fannie

Mae

Connecticut

Avenue

Securities

2016-C05,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

10.864%),

16.21%,

1/25/29 (c)

572‌

353,500

Fannie

Mae-Aces

2018-M13,

3.74%,

9/25/30 (g)

343‌

120,288

FN

AL3577

30YR

,

3.50%,

4/01/43 

113‌

670,532

FN

BM2007

30YR

,

4.00%,

9/01/48 

643‌

712,470

FN

CB2759

30YR

,

3.00%,

2/01/52 

623‌

480,271

FN

CB3258

30YR

,

3.50%,

4/01/52 

439‌

1,099,743

FN

CB4127

30YR

,

4.50%,

7/01/52 

1,061‌

514,781

FN

CB5106

30YR

,

5.00%,

11/01/52 

508‌

791,715

FN

CB5113

30YR

,

5.50%,

11/01/52 

795‌

478,581

FN

CB7991

30YR

,

5.50%,

2/01/54 

480‌

753,243

FN

CB8021

30YR

,

6.50%,

2/01/54 

776‌

5

Principal

or

Shares

Security

Description

Value

(000)

452,378

FN

FM1717

30YR

,

3.50%,

12/01/45 

$

424‌

856,678

FN

FM3162

30YR

,

3.00%,

11/01/46 

777‌

1,405,398

FN

FM7194

30YR

,

2.50%,

3/01/51 

1,205‌

1,028,932

FN

FM9195

30YR

,

2.50%,

10/01/51 

878‌

612,954

FN

FS0007

30YR

,

3.00%,

8/01/50 

542‌

541,291

FN

FS3111

30YR

,

5.00%,

9/01/52 

534‌

333,810

FN

MA4413

30YR

,

2.00%,

9/01/51 

269‌

809,493

FN

MA4785

30YR

,

5.00%,

10/01/52 

799‌

800,327

FN

MA5072

30YR

,

5.50%,

7/01/53 

802‌

1,559,713

FN

MA5073

30YR

,

6.00%,

7/01/53 

1,583‌

1,191,175

FR

RA3728

30YR

,

2.00%,

10/01/50 

973‌

359,138

FR

RA7778

30YR

,

4.50%,

8/01/52 

346‌

1,536,686

FR

SB8509

15YR

,

2.00%,

1/01/36 

1,389‌

1,056,379

FR

SD0729

30YR

,

2.00%,

10/01/51 

859‌

923,346

FR

SD1035

30YR

,

4.00%,

5/01/52 

866‌

1,050,389

FR

ZA4718

30YR

,

3.00%,

10/01/46 

941‌

777,019

FR

ZT0534

30YR

,

3.50%,

12/01/47 

719‌

800,000

Freddie

Mac

STACR

REMIC

Trust

2021-

DNA6

144A,

(U.S.

Secured

Overnight

Financing

Rate

Index

30day

Average

+

3.400%),

8.75%,

10/25/41 (c)(d)

830‌

350,000

FS

KKR

Capital

Corp.

144A,

4.25%,

2/14/25 (d)

347‌

390,716

G2

MA3663

30YR

,

3.50%,

5/20/46 

364‌

435,577

G2

MA4195

30YR

,

3.00%,

1/20/47 

394‌

431,775

G2

MA5265

30YR

,

4.50%,

6/20/48 

424‌

1,029,573

G2

MA6930

30YR

,

2.00%,

10/20/50 

855‌

937,904

G2

MA7472

30YR

,

2.50%,

7/20/51 

807‌

238,785

G2

MA7766

30YR

,

2.00%,

12/20/51 

198‌

575,000

GLP

Capital

LP/GLP

Financing

II

Inc.

,

4.00%,

1/15/31 

528‌

500,000

Goldman

Sachs

Group

Inc.

,

2.60%,

2/07/30 

448‌

400,000

Howard

Midstream

Energy

Partners

LLC

144A,

7.38%,

7/15/32 (d)

412‌

425,000

Hyundai

Capital

America

144A,

1.80%,

1/10/28 (d)

383‌

685,000

Invitation

Homes

Operating

Partnership

LP

,

4.15%,

4/15/32 

640‌

350,000

ITC

Holdings

Corp.

144A,

2.95%,

5/14/30 (d)

316‌

400,982

JPMorgan

Chase

Bank

N.A.-CACLN

2020-2

144A,

31.36%,

2/25/28 (d)

420‌

300,000

Kosmos

Energy

Ltd.

144A,

7.50%,

3/01/28 (d)

290‌

250,000

Matador

Resources

Co.

144A,

6.50%,

4/15/32 (d)

251‌

290,000

National

Fuel

Gas

Co.

,

5.50%,

1/15/26 

291‌

470,000

Nationwide

Mutual

Insurance

Co.

144A,

9.38%,

8/15/39 (d)

611‌

63,000

Pacific

Life

Insurance

Co.

144A,

9.25%,

6/15/39 (d)

86‌

450,000

Panther

Escrow

Issuer

LLC

144A,

7.13%,

6/01/31 (d)

462‌

400,000

PBF

Holding

Co.

LLC/PBF

Finance

Corp.

,

6.00%,

2/15/28 

393‌

500,000

Permian

Resources

Operating

LLC

144A,

6.25%,

2/01/33 (d)

504‌

600,000

Phillips

Edison

Grocery

Center

Operating

Partnership

I

LP

,

2.63%,

11/15/31 

502‌

286,500

Planet

Fitness

Master

Issuer

LLC

2019-1A

144A,

3.86%,

12/05/49 (d)

269‌

160,000

Sabine

Pass

Liquefaction

LLC

,

5.63%,

3/01/25 

160‌

176,587

Santander

Bank

Auto

Credit-Linked

Notes

2022-A

144A,

5.28%,

5/15/32 (d)

176‌

Principal

or

Shares

Security

Description

Value

(000)

600,000

Santander

Bank

Auto

Credit-Linked

Notes

2023-B

144A,

6.66%,

12/15/33 (d)

$

607‌

2,327

Santander

Drive

Auto

Receivables

Trust

2023-

S1

144A,

0.00%,

4/18/28 (d)(f)

497‌

500,000

SBA

Tower

Trust

144A,

2.84%,

1/15/25 (d)

493‌

200,000

SM

Energy

Co.

144A,

6.75%,

8/01/29 (d)

201‌

200,000

SM

Energy

Co.

144A,

7.00%,

8/01/32 (d)

202‌

475,000

Stellantis

Finance

U.S.

Inc.

144A,

2.69%,

9/15/31 (d)

398‌

499,375

Store

Master

Funding

I-VII

XIV

XIX

XX

XXIV

XXII

2024-1A

144A,

5.70%,

5/20/54 (d)

509‌

850,000

TierPoint

Issuer

LLC

2023-1A

144A,

6.00%,

6/25/53 (d)

845‌

2,000,000

U.S.

Treasury

Bill

,

5.22%,

1/09/25 (f)

1,956‌

200,000

U.S.

Treasury

Bond

,

2.00%,

8/15/51 

124‌

2,310,000

U.S.

Treasury

Bond

,

2.25%,

8/15/46 (h)(i)

1,594‌

1,000,000

U.S.

Treasury

Note

,

4.25%,

6/30/29 

1,014‌

250,000

VB-S1

Issuer

LLC-VBTEL

2024-1A

144A,

8.87%,

5/15/54 (d)

259‌

600,000

Venture

Global

LNG

Inc.

144A,

8.13%,

6/01/28 (d)

625‌

500,000

VMware

LLC

,

2.20%,

8/15/31 

418‌

800,000

Warnermedia

Holdings

Inc.

,

5.14%,

3/15/52 

596‌

800,000

Welltower

OP

LLC

,

3.85%,

6/15/32 

739‌

300,000

Western

Midstream

Operating

LP

,

6.15%,

4/01/33 

312‌

54,326‌

Uruguay

(UYU)

(1%

)

22,200,000

Uruguay

Government

International

Bond

,

9.75%,

7/20/33 (b)

556‌

Uzbekistan

(USD)

(0%

)

650,000

Republic

of

Uzbekistan

International

Bond

144A,

3.90%,

10/19/31 (d)

535‌

Total

Bonds

(Cost

-

$145,389)

134,888‌

Bank

Loans(j)

(0%

)

394,532

DirectV

Financing

LLC

Term

Loan

NON-

EXT

1L,

(1

mo.

Term

Secured

Overnight

Financing

Rate

+

5.000%),

10.46%,

8/02/27             

(Cost

-

$396)

397‌

Investment

Company

(4%)

1,220,444

Payden

Cash

Reserves

Money

Market

Fund

 *

1,220‌

146,720

Payden

Emerging

Market

Corporate

Bond

Fund

 *

1,281‌

495,851

Payden

Emerging

Markets

Local

Bond

Fund

 *

2,286‌

146,702

Payden

Floating

Rate

Fund,

SI

Class

 *

1,437‌

Total

Investment

Company

(Cost

-

$6,301)

6,224‌

Total

Investments

(Cost

-

$152,086)  (98%)

141,509‌

Other

Assets,

net

of

Liabilities

(

2%

)

2,446‌

Net

Assets

(100%)

$

143,955‌

*

Affiliated

investment.

(a)

Security

offered

and

sold

outside

the

United

States,

and

thus

is

exempt

from

registration

under

Regulation

S

of

the

Securities

Act

of

1933.

It

has

been

deemed

liquid

under

guidelines

approved

by

the

Board.

(b)

Principal

in

foreign

currency.

(c)

Floating

rate

security.

The

rate

shown

reflects

the

rate

in

effect

at

July

31,

2024.

(d)

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.

6

Payden

Mutual

Funds

Payden

Global

Fixed

Income

Fund

continued

(e)

Perpetual

security

with

no

stated

maturity

date.

(f)

Yield

to

maturity

at

time

of

purchase.

(g)

Variable

rate

security.

Interest

rate

disclosed

is

as

of

the

most

recent

information

available.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description

above.

(h)

All

or

a

portion

of

the

security

is

pledged

to

cover

futures

contract

margin

requirements.

(i)

All

or

a

portion

of

security

has

been

pledged

in

connection

with

outstanding

centrally

cleared

swaps.

(j)

Floating

rate

security.

The

rate

shown

reflects

the

rate

in

effect

at

July

31,

2024.

The

stated

maturity

is

subject

to

prepayments.

Open

Forward

Currency

Contracts

to

USD

Currency

Purchased

(000s)

Currency

Sold

(000s)

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

(000s)

Assets:

EUR

1,505

USD  1,618

HSBC

Bank

USA,

N.A.

08/22/2024

$

13

EUR

32,684

USD  35,374

State

Street

Bank

&

Trust

Co.

08/06/2024

9

GBP

3,302

USD  4,241

Hsbc

Securities

Inc

08/06/2024

4

GBP

139

USD  176

Morgan

Stanley

08/22/2024

3

IDR

8,900,000

USD  544

BNP

PARIBAS

08/22/2024

3

JPY

1,192,800

USD  7,928

Citibank

Na

08/06/2024

42

JPY

252,400

USD  1,625

HSBC

Bank

USA,

N.A.

08/22/2024

66

PEN

1,170

USD  305

HSBC

Bank

USA,

N.A.

08/22/2024

8

THB

15,260

USD  417

Barclays

Bank

PLC

08/22/2024

12

USD

784

CLP  728,600

BNP

PARIBAS

08/22/2024

10

USD

1,801

CZK  40,920

BNP

PARIBAS

08/22/2024

58

USD

809

IDR  12,906,000

BNP

PARIBAS

08/22/2024

16

USD

142

NOK  1,510

BNP

PARIBAS

08/22/2024

4

USD

703

PLN  2,780

BNP

PARIBAS

08/22/2024

1

USD

1,205

SEK  12,870

BNP

PARIBAS

08/22/2024

2

USD

1,108

AUD  1,642

Citibank,

N.A.

10/23/2024

32

USD

139

DKK  945

Citibank,

N.A.

10/23/2024

1

USD

1,433

AUD  2,154

HSBC

Bank

USA,

N.A.

08/22/2024

23

USD

816

HUF  291,500

HSBC

Bank

USA,

N.A.

08/22/2024

16

USD

2,035

PEN  7,576

HSBC

Bank

USA,

N.A.

08/22/2024

9

USD

278

SEK  2,910

HSBC

Bank

USA,

N.A.

10/23/2024

5

USD

2,437

MXN  41,270

Morgan

Stanley

08/22/2024

229

USD

2,970

CAD  4,054

State

Street

Bank

&

Trust

Co.

10/23/2024

26

592

Liabilities:

AUD

2,154

USD  1,415

HSBC

Bank

USA,

N.A.

08/22/2024

(5)

CLP

728,600

USD  806

Citibank,

N.A.

08/22/2024

(33)

CZK

38,331

USD  1,637

BNP

PARIBAS

08/22/2024

(4)

GBP

1,128

USD  1,463

BNP

PARIBAS

08/22/2024

(12)

NOK

12,910

USD  1,208

BNP

PARIBAS

08/22/2024

(24)

PLN

2,300

USD  586

Barclays

Bank

PLC

08/22/2024

(6)

SEK

1,600

USD  151

BNP

PARIBAS

08/22/2024

(2)

USD

813

MYR  3,800

Barclays

Bank

PLC

08/22/2024

(15)

USD

67

PLN  271

Barclays

Bank

PLC

08/22/2024

(1)

USD

1,515

THB  54,590

Barclays

Bank

PLC

08/22/2024

(19)

USD

1,447

CHF  1,275

BNP

PARIBAS

08/22/2024

(9)

USD

244

SGD  327

BNP

PARIBAS

08/22/2024

(1)

USD

8,000

JPY  1,198,200

Citibank

Na

09/06/2024

(43)

USD

7,451

JPY  1,192,800

Citibank,

N.A.

08/06/2024

(519)

USD

1,197

CHF  1,047

Citibank,

N.A.

10/23/2024

(8)

USD

4,181

GBP  3,302

HSBC

Bank

USA,

N.A.

08/06/2024

(64)

USD

1,613

EUR  1,505

HSBC

Bank

USA,

N.A.

08/22/2024

(17)

USD

1,584

JPY  252,400

HSBC

Bank

USA,

N.A.

08/22/2024

(106)

USD

4,281

GBP  3,332

Hsbc

Securities

Inc

09/06/2024

(4)

USD

1,605

GBP  1,267

Morgan

Stanley

08/22/2024

(24)

USD

35,115

EUR  32,684

State

Street

Bank

&

Trust

Co.

08/06/2024

(268)

7

Open

Forward

Currency

Contracts

to

USD

Currency

Purchased

(000s)

Currency

Sold

(000s)

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

(000s)

USD

35,956

EUR  33,175

State

Street

Bank

&

Trust

Co.

09/06/2024

$

(11)

(1,195)

Net

Unrealized

Appreciation

(Depreciation)

$(603)

Open

Futures

Contracts

Contract

Type

Number

of

Contracts

Expiration

Date

Notional

Amount

(000s)

Current

Value

(000s)

Unrealized

Appreciation

(Depreciation)

(000s)

Long

Contracts:

Euro-Bobl

Future

92

Sep-24

$

11,700

$

167

$

167

Euro-Bund

Future

5

Sep-24

724

9

9

Euro-Buxl

Future

10

Sep-24

1,458

39

39

Long

Gilt

Future

6

Sep-24

765

17

17

U.S.

Long

Bond

Future

34

Sep-24

4,107

59

59

U.S.

Treasury

2-Year

Note

Future

18

Sep-24

3,697

19

19

U.S.

Treasury

5-Year

Note

Future

12

Sep-24

1,295

19

19

U.S.

Ultra

Bond

Future

10

Sep-24

1,280

32

32

a

a

361

Short

Contracts:

Euro-Schatz

Future

4

Sep-24

(459)

(1)

(1)

U.S.

10-Year

Ultra

Future

45

Sep-24

(5,201)

(135)

(135)

U.S.

Treasury

10-Year

Note

Future

31

Sep-24

(3,466)

(72)

(72)

a

a

(208)

Total

Futures

$153

Open

Centrally

Cleared

Credit

Default

Swap

Contracts

Description

Maturity

Date

Notional

Amount

(000s)

Value

(000s)

Upfront

payments/

receipts

(000s)

Unrealized

Depreciation

(000s)

Protection

Bought

(Relevant

Credit:

Markit

CDX,

North

America

High

Yield

Series

42

Index),

Pay

5%

Quarterly,

Receive

upon

credit

default

06/20/2029

USD

3,400

$(251)

$(231)

$(20)

Open

Centrally

Cleared

Interest

Rate

Swap

Contracts

Description

Maturity

Date

Notional

Amount

(000s)

Value

(000s)

Upfront

payments/

receipts

(000s)

Unrealized

Appreciation/

(Depreciation)

(000s)

10-Year

Interest

Rate

Swap,

Receive

Fixed

1.125%

Quarterly,

Pay

Variable

3.620%

(3M

KWCDC)

Quarterly

10/07/2029

KRW

1,584,200

$(105)

$–

$(105)

10-Year

Interest

Rate

Swap,

Receive

Fixed

1.800%

Quarterly,

Pay

Variable

3.650%

(3M

KWCDC)

Quarterly

09/23/2031

KRW

2,288,000

(127)

–

(127)

5-Year

 Interest

Rate

Swap,

Receive

Fixed

2.4810%

Quarterly,

Pay

Variable

1.900%

(CNRR007)

Quarterly

09/22/2026

CNY

33,000

78

–

78

5-Year

Interest

Rate

Swap,

Receive

Fixed

1.850%

Quarterly,

Pay

Variable

1.950%

(CNRR007)

Quarterly

05/08/2025

CNY

16,000

2

–

2

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.032%

Quarterly,

Pay

Variable

1.980%

(CNRR007)

Quarterly

04/25/2029

CNY

5,350

8

–

8

8

Payden

Mutual

Funds

Payden

Global

Fixed

Income

Fund

continued

Open

Centrally

Cleared

Interest

Rate

Swap

Contracts

Description

Maturity

Date

Notional

Amount

(000s)

Value

(000s)

Upfront

payments/

receipts

(000s)

Unrealized

Appreciation/

(Depreciation)

(000s)

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.122%

Quarterly,

Pay

Variable

2.100%

(CNRR007)

Quarterly

02/02/2029

CNY

13,100

28

–

28

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.3775%

Quarterly,

Pay

Variable

2.100%

(CNRR007)

Quarterly

07/24/2028

CNY

40,100

133

–

133

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.580%

Quarterly,

Pay

Variable

1.980%

(CNRR007)

Quarterly

02/05/2025

CNY

2,350

2

–

2

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.635%

Quarterly,

Pay

Variable

1.980%

(CNRR007)

Quarterly

01/08/2026

CNY

38,600

74

–

74

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.715%

Quarterly,

Pay

Variable

1.980%

(CNRR007)

Quarterly

09/16/2025

CNY

12,200

20

–

20

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.720%

Quarterly,

Pay

Variable

1.900%

(CNRR007)

Quarterly

10/14/2025

CNY

10,000

17

–

17

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.8225%

Quarterly,

Pay

Variable

1.900%

(CNRR007)

Quarterly

02/15/2028

CNY

35,900

194

–

194

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.920%

Quarterly,

Pay

Variable

2.350%

(CNRR007)

Quarterly

01/17/2025

CNY

11,580

9

–

9

5-Year

Interest

Rate

Swap,

Receive

Fixed

2.960%

Quarterly,

Pay

Variable

1.980%

(CNRR007)

Quarterly

12/09/2024

CNY

28,890

23

–

23

5-Year Interest

Rate

Swap,

Receive

Fixed

2.350%

Quarterly,

Pay

Variable

1.950%

(CNRR007)

Quarterly

07/03/2025

CNY

11,800

10

–

10

IRS

CME

MXN  GS_/MPSWB

06/17/2026

10.55_R

06/17/2026

MXN

82,250

30

–

30

LCH

-

IRS  //NDS

2.01

06/03/29

CNY  GS_R

06/03/2029

CNY

10,000

14

–

14

$410

$–

$410