13F-HR 1 form13f-hr_0312.txt PAYDEN & RYGEL INVESTMENT GROUP COVER LETTER AND DATA INFORMATION UNITED STATES SECRITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2012 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Payden & Rygel Address: 333 S. Grand Avenue Los Angeles, CA 90071 13F File Number: 28-04643 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this submission. Person Signing this Report on Behalf of Reporting Manager: Name: Edward S. Garlock Title: General Counsel Phone: 213-830-4255 Signature, Place, and Date of Signing: Edward S. Garlock Los Angeles, CA 90071 May 03, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 201 Form 13F Information Table Value Total ($ Thousands): $273,422 List of Other Included Managers: No. 13F File Number Name

SECURITY TYPE CUSIP MARKET SHARES OPTIONTYPE SHARES AT&T COM 00206R102 13,~~774~~400 58108,~~664~~864 SH SOLE 58108,~~664~~864 ALTRIA GROUP COM 02209S103 13,~~629~~027 5498,~~942~~042 SH SOLE 5498,~~942~~042 AMAZON.COM COM 023135106 1,~~004~~904 59,~~800~~400 SH SOLE 59,~~800~~400 AMEREN COM 023608102 13,~~643~~160 4997,~~600~~000 SH SOLE 4997,~~600~~000 AMERICA MOVIL ADR COM 02364W105 2730 1,200 SH SOLE 1,200 AMERICAN ELECTRIC POWER COM 025537101 13,~~720~~181 4182,~~640~~440 SH SOLE 4182,~~640~~440 AMGEN COM 031162100 4244 650 SH SOLE 650 ~~ANNALY MORTGAGE MANAGEMENT COM 035710409 795 49,800 SH SOLE 49,800~~ APACHE COM 037411105 1,~~268~~306 1413,000 SH SOLE 1413,000 APPLE COM 037833100 34,~~483~~557 87,600 SH SOLE 87,600 ~~AVON PRODUCTS COM 054303102 982 56,200 SH SOLE 56,200~~ BP ADR COM 055622104 2021 459 SH SOLE 459 BAIDU.COM-ADR COM 056752108 ~~1,351~~758 115,~~600~~200 SH SOLE 115,~~600~~200 BANK OF AMERICA COM 060505104 3357 6,000 SH SOLE 6,000 BARRICK GOLD COM 067901108 3230 700 SH SOLE 700 BED BATH & BEYOND COM 075896100 ~~928~~987 1615,000 SH SOLE 1615,000 BERKSHIRE HATHAWAY COM 084670108 ~~230~~244 2 SH SOLE 2 BERKSHIRE HATHAWAY INC-CL B COM 084670702 ~~114~~121 1,496 SH SOLE 1,496 BIOMED REALTY TRUST INC COM 09063H107 ~~920~~1,198 5063,~~900~~100 SH SOLE 5063,~~900~~100 BLACKROCK INCOME TRUST COM 09247F100 ~~212~~214 28,900 SH SOLE 28,900 BOEING COM 097023105 ~~682~~654 98,~~300~~800 SH SOLE 98,~~300~~800 BRISTOL-MYERS SQUIBB COM 110122108 ~~842~~1,887 2355,900 SH SOLE 2355,900 BUCKEYE PARTNERS LP COM 118230101 2,380 38,900 SH SOLE 38,900 CIT GROUP INC COM 125581801 5363 1,517 SH SOLE 1,517 CMS ENERGY CORP COM 125896100 40 1,800 SH SOLE 1,800 CSX COM 126408103 32 1,500 SH SOLE 1,500 CABLEVISION SYSTEMS-NY GRP-A COM 12686C109 12,~~166~~372 82161,~~000~~600 SH SOLE 82161,~~000~~600 CAMERON INTL COM 13342B105 ~~974~~988 1918,~~800~~700 SH SOLE 1918,~~800~~700 CAPITAL ONE FINL COM 14040H105 ~~100~~132 2,369 SH SOLE 2,369 CATERPILLAR COM 149123101 ~~652~~724 76,~~200~~800 SH SOLE 76,~~200~~800 CELGENE COM 151020104 690 8,900 SH SOLE 8,900 CENTERPOINT ENERGY INC COM 15189T107 ~~163~~160 8,125 SH SOLE 8,125 CENTURYTEL, INC COM 156700106 12,~~585~~752 4271,~~600~~200 SH SOLE 4271,~~600~~200 CHEVRON COM 166764100 ~~112~~113 1,050 SH SOLE 1,050 ~~CINEMARK HOLDINGS INC COM 17243V102 736 39,800 SH SOLE 39,800~~ CISCO SYSTEMS COM 17275R102 3338 1,800 SH SOLE 1,800 CITIGROUP INC COM 172967424 5476 2,067 SH SOLE 2,067 ~~CLEAN ENERGY FUELS CORP COM 184499101 6 500 SH SOLE 500~~ COCA-COLA COM 191216100 1,~~343~~332 1918,~~200~~000 SH SOLE 1918,~~200~~000 COGNIZANT TECH SOLUTIONS COM 192446102 1,~~087~~224 1615,900 SH SOLE 1615,900 COLGATE-PALMOLIVE COM 194162103 2829 300 SH SOLE 300 COMPASS MINERALS INTERNATIONAL COM 20451N101 4850 700 SH SOLE 700 CONOCOPHILLIPS COM 20825C104 2,~~179~~706 2935,~~900~~600 SH SOLE 2935,~~900~~600 CONSOLIDATED EDISON COM 209115104 ~~144~~136 2,325 SH SOLE 2,325 COSTCO WHOLESALE COM 22160K105 ~~750~~772 98,~~000~~500 SH SOLE 98,~~000~~500 COVENTRY HEALTH CARE COM 222862104 ~~674~~743 2220,~~200~~900 SH SOLE 2220,~~200~~900 VELOCITYSHARES 2X VIX SH-TRM COM 22542D761 164 500 SH SOLE 500 CUMMINS INC COM 231021106 ~~942~~1,200 10,~~700~~000 SH SOLE 10,~~700~~000 DTE ENERGY COM 233331107 8283 1,500 SH SOLE 1,500 DANAHER COM 235851102 1,~~044~~165 2220,~~200~~800 SH SOLE 2220,~~200~~800 DEERE & COMPANY COM 244199105 1,~~183~~165 1514,~~300~~400 SH SOLE 1514,~~300~~400 DELL COM 24702R101 ~~613~~654 4139,~~900~~400 SH SOLE 4139,~~900~~400 DEVON ENERGY COM 25179M103 1,~~414~~529 2221,~~800~~500 SH SOLE 2221,~~800~~500 DOLLAR TREE INC COM 256746108 1,~~031~~096 1211,~~400~~600 SH SOLE 1211,~~400~~600 RR DONNELLEY & SONS COM 257867101 6959 4,750 SH SOLE 4,750 DUKE REALTY CORP COM 264411505 12,~~362~~416 ~~113~~168,~~000~~500 SH SOLE ~~113~~168,~~000~~500 DUKE ENERGY COM 26441C105 ~~166~~158 7,534 SH SOLE 7,534 DUNKIN' BRANDS GROUP INC COM 265504100 ~~634~~719 2523,~~400~~900 SH SOLE 2523,~~400~~900 EMC COM 268648102 1,~~538~~999 7166,~~400~~900 SH SOLE 7166,~~400~~900 ECOLAB COM 278865100 5256 900 SH SOLE 900 ENBRIDGE ENERGY PARTNERS COM 29250R106 12,~~334~~447 4079,~~200~~000 SH SOLE 4079,~~200~~000 ENERGY TRANSFER PARTNERS COM 29273R109 56 1,~~027~~200 ~~22,400~~ SH SOLE 221,~~400~~200 ENERGY TRANSFER EQUITY LP COM 29273V100 ~~970~~2,043 2350,~~900~~700 SH SOLE 2350,~~900~~700 ENTERPRISE PRODUCTS PARTNERS COM 293792107 12,~~470~~231 3144,~~700~~200 SH SOLE 3144,~~700~~200 EXELON COM 30161N101 2,443 62,300 SH SOLE 62,300 EXELIS INC COM 30162A108 710 800 SH SOLE 800 EXXON MOBIL COM 30231G102 3,~~370~~249 3937,~~756~~456 SH SOLE 3937,~~756~~456 FMC CORP COM 302491303 1,~~084~~260 1211,~~600~~900 SH SOLE 1211,~~600~~900 FIRSTENERGY COM 337932107 221,245 ~~500~~27,300 SH SOLE ~~500~~27,300 ~~FLUOR CORP COM 343412102 10 200 SH SOLE 200~~ FORD MOTOR COM 345370860 89 700 SH SOLE 700 FREEPORT-MCM COPPER & GOLD COM 35671D857 ~~681~~685 18,~~500~~000 SH SOLE 18,~~500~~000 FRONTIER COMMUNICATIONS CORP COM 35906A108 43 700 SH SOLE 700 GENERAL ELECTRIC COM 369604103 2,~~101~~952 ~~117~~147,~~302~~102 SH SOLE ~~117~~147,~~302~~102 GENERAL MILLS COM 370334104 32 800 SH SOLE 800 GILEAD SCIENCES COM 375558103 ~~737~~821 1816,~~000~~800 SH SOLE 1816,~~000~~800 GLAXOSMITHKLINE ADR COM 37733W105 1413 300 SH SOLE 300 GOOGLE COM 38259P508 1,~~809~~667 2,~~800~~600 SH SOLE 2,~~800~~600 HCP INC COM 40414L109 12,~~421~~419 3461,300 SH SOLE 3461,300 HALLIBURTON COM 406216101 21,~~078~~869 6056,~~200~~300 SH SOLE 6056,~~200~~300 HEALTH CARE REIT INC COM 42217K106 13,~~592~~072 2955,~~200~~900 SH SOLE 2955,~~200~~900 HEWLETT-PACKARD COM 428236103 3129 1,200 SH SOLE 1,200 ITT COM 450911201 89 400 SH SOLE 400 ILLINOIS TOOL WORKS COM 452308109 1923 400 SH SOLE 400 ~~INERGY LP COM 456615103 1,160 47,500 SH SOLE 47,500~~ INTEL COM 458140100 ~~1,472~~779 6027,700 SH SOLE 6027,700 INTEGRYS ENERGY GROUP INC COM 45822P105 ~~737~~1,812 1334,~~600~~200 SH SOLE 1334,~~600~~200 INTL BUSINESS MACHINES COM 459200101 2,~~409~~587 1312,~~100~~400 SH SOLE 1312,~~100~~400 ~~INVESCO MORTGAGE CAPITAL COM 46131B100 11 800 SH SOLE 800~~ ISHARES MSCI TAIWAN INDEX FUND COM 464286731 608 51,900 SH SOLE 51,900 ISHARES MSCI SWITZERLAND COM 464286749 226 10,000 SH SOLE 10,000 ISHARES MSCI SOUTH KOREA COM 464286772 988 18,900 SH SOLE 18,900 ISHARES MSCI GERMANY INDEX COM 464286806 83 4,300 SH SOLE 4,300 ISHARES MSCI HONG KONG I COM 464286871 119 7,700 SH SOLE 7,700 ISHARES BARCLAYS TIPS BOND FUND COM 464287176 55 475 SH SOLE 475 ISHARES MSCI EMERGING MARKETS COM 464287234 34 900 SH SOLE 900 ISHARES MSCI EAFE INDEX COM 464287465 89 1,800 SH SOLE 1,800 ISHARES RUSSELL 1000 GROWTH COM 464287614 212 3,670 SH SOLE 3,670 ISHARES BARCLAYS INTERMEDIATE COM 464288638 3,~~169~~273 2930,~~567~~152 SH SOLE 2930,~~567~~152 ISHARES 2017 S&P AMT-FREE MUNICIPAL COM 464289271 9392 1,692 SH SOLE 1,692 ISHARES 2015 S&P AMT-FREE MUNICIPAL COM 464289339 ~~144~~145 2,718 SH SOLE 2,718 JPMORGAN CHASE & CO COM 46625H100 3461 1,~~017~~317 SH SOLE 1,~~017~~317 JACOBS ENGINEERING COM 469814107 2831 700 SH SOLE 700 JOHNSON & JOHNSON COM 478160104 59620 ~~900~~9,400 SH SOLE ~~900~~9,400 ~~KINDER~~JOHNSON ~~MORGAN~~CONTROLS ~~ENERGY PARTNERS~~ COM ~~494550106~~478366107 ~~1,257~~23 ~~14,800~~700 SH SOLE ~~14,800~~700 ~~KRAFT~~KIMBERLY-CLARK ~~FOODS~~ COM ~~50075N104~~494368103 ~~714~~1,397 1918,~~100~~900 SH SOLE 1918,~~100~~900 L-3 COMMUNICATIONS TITAN COM 502424104 2021 300 SH SOLE 300 ~~LABORATORY CORP OF AMERICA HOLDINGS COM 50540R409 43 500 SH SOLE 500~~ LEGGETT & PLATT INC COM 524660107 1,~~299~~834 5679,~~400~~700 SH SOLE 5679,~~400~~700 LIBERTY PROPERTY TRUST COM 531172104 12,~~383~~515 4470,~~800~~400 SH SOLE 4470,~~800~~400 LIFE TECHNOLOGIES CORP COM 53217V109 2329 600 SH SOLE 600 ELI LILLY COM 532457108 901,900 247,176 SH SOLE 247,176 LOCKHEED MARTIN COM 539830109 13,~~569~~046 1933,~~400~~900 SH SOLE 1933,~~400~~900 M & T BANK CORP COM 55261F104 2326 300 SH SOLE 300 MFS CHARTER INCOME TRUST COM 552727109 8690 9,400 SH SOLE 9,400 MFS MULTIMARKET INC TRUST COM 552737108 ~~134~~140 20,000 SH SOLE 20,000 MFS INTERMEDIATE INC TRUST COM 55273C107 ~~126~~128 20,000 SH SOLE 20,000 MFS GOVT MARKETS INC TRUST COM 552939100 8784 12,433 SH SOLE 12,433 THE MACERICH CO COM 554382101 ~~1,179~~29 ~~23,300~~500 SH SOLE ~~23,300~~500 MARKET VECTORS GOLD MINERS FUND COM 57060U100 2625 500 SH SOLE 500 MARSH & MCLENNAN COM 571748102 ~~734~~718 2321,~~200~~900 SH SOLE 2321,~~200~~900 MASTERCARD COM 57636Q104 1,~~081~~135 2,~~900~~700 SH SOLE 2,~~900~~700 MCDONALD'S COM 580135101 21,~~127~~962 2120,~~200~~000 SH SOLE 2120,~~200~~000 MCKESSON CORP COM 58155Q103 2326 300 SH SOLE 300 MERCK & CO COM 58933Y105 13,~~632~~057 4379,~~300~~600 SH SOLE 4379,~~300~~600 MICROSOFT COM 594918104 23,~~741~~209 ~~105~~99,~~600~~500 SH SOLE ~~105~~99,~~600~~500 MOLEX INC-CL A COM 608554200 12,~~167~~038 5986,~~000~~900 SH SOLE 5986,~~000~~900 MONSANTO COM 61166W101 ~~981~~1,069 1413,~~000~~400 SH SOLE 1413,~~000~~400 NYSE EURONEXT COM 629491101 1,~~164~~810 4460,~~600~~300 SH SOLE 4460,~~600~~300 ~~NY COMMUNITY BANCORP COM 649445103 978 79,100 SH SOLE 79,100~~ NEWMONT MINING COM 651639106 ~~900~~1,359 1526,~~000~~500 SH SOLE 1526,~~000~~500 NIKE INC-B COM 654106103 1,~~012~~074 109,~~500~~900 SH SOLE 109,~~500~~900 NISOURCE INC COM 65473P105 5758 2,400 SH SOLE 2,400 NORDSTROM COM 655664100 ~~974 19~~1,~~600~~031 ~~SH SOLE 19~~18,~~600~~500 ~~NORTEL NETWORKS CORP COM 656568508 0 1,261~~ SH SOLE 118,~~261~~500 NOVARTIS AG-ADR COM 66987V109 8482 1,476 SH SOLE 1,476 ORACLE COM 68389X105 1,~~341~~429 5249,~~300~~000 SH SOLE 5249,~~300~~000 PPL COM 69351T106 12,~~656~~000 5670,~~275~~775 SH SOLE 5670,~~275~~775 PAYCHEX COM 704326107 12,~~168~~414 3877,~~800~~900 SH SOLE 3877,~~800~~900 PEPCO HOLDINGS COM 713291102 13,~~543~~025 76160,~~000~~120 SH SOLE 76160,~~000~~120 PEPSICO COM 713448108 1,~~075~~015 1615,~~200~~300 SH SOLE 1615,~~200~~300 PFIZER COM 717081103 23,~~577~~442 ~~119~~152,~~100~~000 SH SOLE ~~119~~152,~~100~~000 PHILIP MORRIS INTERNATIONAL COM 718172109 34,~~037~~023 3845,~~700~~400 SH SOLE 3845,~~700~~400 PINNACLE WEST CAPITAL CORP. COM 723484101 1,~~436~~217 2925,~~800~~400 SH SOLE 2925,~~800~~400 ~~PITNEY BOWES COM 724479100 1,211 65,342 SH SOLE 65,342~~ PLAINS ALL AMERICAN PIPELINE COM 726503105 ~~874~~2,463 1131,~~900~~400 SH SOLE 1131,~~900~~400 PLUM CREEK TIMBER CO INC COM 729251108 1,~~155~~816 3143,~~600~~700 SH SOLE 3143,~~600~~700 PRAXAIR COM 74005P104 1,~~133~~146 10,~~600~~000 SH SOLE 10,~~600~~000 PRECISION CASTPARTS COM 740189105 1,~~104~~089 6,~~700~~300 SH SOLE 6,~~700~~300 PRICELINE.COM COM 741503403 ~~655~~1,005 1,400 SH SOLE 1,400 ~~PROGRESS~~PUBLIC ~~ENERGY~~SERVICE ENTERPRISE GROUP COM ~~743263105~~744573106 281,876 ~~500~~61,300 SH SOLE ~~500~~61,300 PUTNAM PREMIER INCOME TRUST COM 746853100 7074 13,464 SH SOLE 13,464 PUTMAN MASTER INTER INCOME TRUST COM 746909100 7071 13,690 SH SOLE 13,690 QUALCOMM COM 747525103 1,~~499~~763 2725,~~400~~900 SH SOLE 2725,~~400~~900 ~~RED HAT INC COM 756577102 17 400 SH SOLE 400~~ REGAL ENTERTAINMENT GROUP-A COM 758766109 ~~1,413~~71 ~~118~~5,~~350~~250 SH SOLE ~~118~~5,~~350~~250 REYNOLDS AMERICAN INC COM 761713106 12,~~565~~444 3758,~~774~~974 SH SOLE 3758,~~774~~974 SPDR NUVEEN BARCLAYS CAPITAL S-T MUNI COM 78464A425 21,~~013~~179 8248,~~693~~420 SH SOLE 8248,~~693~~420 S&P 400 DEPOSITARY RECEIPTS COM 78467Y107 4551 280 SH SOLE 280 ~~SALESFORCE.COM COM 79466L302 639 6,300 SH SOLE 6,300~~ CHARLES SCHWAB COM 808513105 3038 2,633 SH SOLE 2,633 ~~SILVER~~HEALTH ~~WHEATON~~CARE ~~CORP~~SELECT SECTOR SPDR COM ~~828336107~~81369Y209 ~~825~~263 287,~~500~~000 SH SOLE 287,~~500~~000 SOUTHERN COMPANY COM 842587107 1,~~724~~391 3730,~~250~~950 SH SOLE 3730,~~250~~950 ~~SOUTHERN COPPER CORP COM 84265V105 975 32,300 SH SOLE 32,300~~ STERICYCLE COM 858912108 94100 1,200 SH SOLE 1,200 TECO ENERGY INC COM 872375100 1,~~529~~193 7968,~~900~~000 SH SOLE 7968,~~900~~000 TARGA RESOURCES PARTNERS COM 87611X105 12,~~286~~426 3458,500 SH SOLE 3458,500 TARGET COM 87612E106 17 300 SH SOLE 300 TEREX COM 880779103 ~~854~~1,332 6359,200 SH SOLE 6359,200 THERMO FISHER SCIENTIFIC COM 883556102 3139 700 SH SOLE 700 3M COMPANY COM 88579Y101 1,~~365~~401 1615,700 SH SOLE 1615,700 UNITED TECHNOLOGIES COM 913017109 ~~658~~705 98,~~000~~500 SH SOLE 98,~~000~~500 URBAN OUTFITTERS INC COM 917047102 3335 1,200 SH SOLE 1,200 VALERO ENERGY COM 91913Y100 1923 900 SH SOLE 900 VALLEY NATIONAL BANCORP COM 919794107 1,~~008~~857 81143,~~520~~420 SH SOLE 81143,~~520~~420 VANGUARD MSCI EMERGING MARKETS ETF COM 922042858 ~~711~~852 1819,600 SH SOLE 1819,600 VANGUARD REIT ETF COM 922908553 7279 1,245 SH SOLE 1,245 VERIZON COMMUNICATIONS COM 92343V104 23,~~761~~843 68100,~~818~~518 SH SOLE 68100,~~818~~518 VERTEX PHARMACEUTICALS INC COM 92532F100 750 18,300 SH SOLE 18,300 VMWARE INC-CL A COM 928563402 ~~582~~742 76,~~000~~600 SH SOLE 76,~~000~~600 WAL-MART STORES COM 931142103 ~~868~~864 14,~~520~~120 SH SOLE 14,~~520~~120 WASTE MANAGEMENT COM 94106L109 ~~971~~1,556 2944,~~700~~500 SH SOLE 2944,~~700~~500 WELLS FARGO COM 949746101 4758 1,700 SH SOLE 1,700 WESTAR ENERGY INC COM 95709T100 ~~794~~1,204 2743,~~600~~100 SH SOLE 2743,~~600~~100 WA/CLAY US INFL-LKD SEC&INC COM 95766Q106 ~~368~~371 29,100 SH SOLE 29,100 WA/CLAY US INFL-LKD OPP&INC COM 95766R104 ~~247~~251 19,600 SH SOLE 19,600 WILLIAMS PARTNERS LP COM 96950F104 13,~~572~~090 2654,~~200~~600 SH SOLE 2654,~~200~~600 WINDSTREAM COM 97381W104 12,~~311~~502 ~~111~~213,~~690~~790 SH SOLE ~~111~~213,~~690~~790 XCEL ENERGY COM 98389B100 1121 ~~400~~800 SH SOLE ~~400~~800 XYLEM INC COM 98419M100 2122 800 SH SOLE 800 YUM! BRANDS INC COM 988498101 1,~~458~~651 2423,~~700 SH SOLE 24,700 DGL US 1/21/12 C62 CALL 73936B606 446 8,~~200 SH ~~CALL~~ SOLE 823,200 ~~EWI~~FXE US 31/1719/1213 ~~P12~~P120 PUT ~~464286855~~23130C108 ~~923~~3,451 7726,000 SH ~~PUT~~ SOLE ~~77,000~~260 ~~GLD~~GDX US 036/16/1312 ~~C175~~C55 CALL ~~78463V107~~57060U100 ~~456~~5,806 3117,~~000~~200 SH ~~CALL~~ SOLE 31,~~000~~172 ~~HYG~~GDX US 036/1716/12 ~~P82~~C62 ~~PUT~~CALL ~~464288513~~57060U100 1,~~967~~164 2223,~~000~~500 SH ~~PUT~~ SOLE ~~22,000~~235 ~~HYG~~GLD US 303/1716/1213 ~~P76~~C175 ~~PUT~~CALL ~~464288513~~78463V107 ~~349~~486 3,~~900~~000 SH ~~PUT~~ SOLE ~~3,900~~30 ~~SPY~~GLD US 0112/2122/12 ~~C122~~C175 CALL ~~78462F103~~78463V107 ~~1,908~~713 154,~~200~~400 SH ~~CALL~~ SOLE ~~15,200~~44 SPY US 24/1821/12 ~~P116~~P132 PUT 78462F103 519,~~020~~432 40138,000 SH ~~PUT~~ SOLE 401,~~000~~380 ~~UNG~~GENERAL USMOTORS ~~01/19/13~~PFD ~~C20~~PFD ~~CALL~~37045V209 ~~912318110~~2,272 ~~342 53~~54,~~000~~300 SH ~~CALL~~ SOLE 5354,~~000~~300 ~~USO~~PNC USCAPITAL ~~3/17/12~~TRUST ~~C38~~E ~~CALL~~PFD ~~91232N108~~69350S208 ~~888~~328 2312,~~300~~510 SH ~~CALL~~ SOLE 2312,~~300~~510 AMERICAN FINANCIAL GROUP PFD 025932302 5,~~185~~179 197,833 SH SOLE 197,833 ~~ARES CAPITAL CORP PFD 04010L202 1,559 61,700 SH SOLE 61,700~~ ASSURED GUARANTY MUNI PFD 04623A304 5,~~344~~403 224,366 SH SOLE 224,366 ~~CBS~~ARES CAPITAL CORP PFD ~~124857400~~04010L202 12,~~408~~841 55112,~~420~~000 SH SOLE 55112,~~420~~000 CITIGROUP CAPITAL XII PFD 17315D204 20 800 SH SOLE 800 COMMONWEALTH REIT PFD 203233507 2,~~498~~631 118,225 SH SOLE 118,225 ~~COUNTRYWIDE~~ENTERGY VARKANSAS PFD ~~222388209~~29364D779 415,956 219,708 SH SOLE 219,708 FIRST REPUBLIC BANK PFD 33616C209 2,~~000~~652 104,800 SH SOLE 104,800 GOLDMAN SACHS PFD 38145X111 81 3,200 SH SOLE 3,200 JPM CAPITAL XXXIX PFD 48125E207 57 2,~~000~~220 ~~ENTERGY~~SH ~~ARKANSAS~~SOLE 2,220 METLIFE INC PFD ~~29364D779~~59156R603 61,~~000~~202 ~~219~~47,~~708~~500 SH SOLE ~~219~~47,~~708~~500 PUBLIC STORAGE PFD 74460W206 2,763 109,600 SH SOLE 109,600 EVEREST RE CAPITAL TRUST II PFD 29980R202 3,~~201~~205 129,484 SH SOLE 129,484 ~~GENERAL~~U.S. ~~MOTORS~~BANCORP PFD ~~PFD~~902973833 ~~37045V209 1~~3,~~185~~029 34111,~~600~~400 SH SOLE 34111,~~600~~400 ~~GOLDMAN~~WACHOVIA ~~SACHS~~CAPITAL TRUST III FRN PFD ~~38145X111~~92978AAA0 ~~748~~227 30240,~~200~~000 SH SOLE 30240,~~200~~000 ~~JPM~~VORNADO ~~CAPITAL~~REALTY ~~XXXIX~~TRUST PFD ~~48125E207~~929042869 13,~~381~~404 54126,~~120~~310 SH SOLE 54126,~~120~~310 ~~METLIFE~~ISHARES ~~INC~~BARCLAYS ~~PFD~~TIPS ~~59156R603~~BOND 1FUND COM 464287176 56 475 SH SOLE 475 ISHARES MSCI EMERGING MARKETS COM 464287234 39 900 SH SOLE 900 ISHARES MSCI JAPAN COM 464286848 76 7,~~557~~500 61SH SOLE 7,~~100~~500 ISHARES MSCI HONG KONG I COM 464286871 136 7,800 SH SOLE 617,~~100~~800 ~~PNC~~ISHARES ~~CAPITAL~~MSCI ~~TRUST~~SOUTH EKOREA ~~PFD~~COM ~~69350S208~~464286772 1,~~166~~750 4429,~~610~~400 SH SOLE 4429,~~610~~400 ~~PUBLIC~~ISHARES ~~STORAGE~~MSCI ~~PFD~~EAFE ~~74460D232~~INDEX COM 464287465 99 1,~~390~~800 ~~54,600~~ SH SOLE 541,~~600~~800 ~~VORNADO~~ISHARES ~~REALTY~~RUSSELL ~~TRUST~~1000 ~~PFD~~GROWTH ~~929042869~~COM 464287614 77 1,~~842~~170 68SH SOLE 1,~~500~~170 ISHARES MSCI SWITZERLAND COM 464286749 258 10,300 SH SOLE 6810,~~500~~300 ~~WACHOVIA~~ISHARES ~~CAPITAL~~DJ ~~TRUST~~SELECT ~~III~~DIVIDEND ~~FRN~~COM ~~PFD~~464287168 ~~92978AAA0~~11,707 ~~208~~209,200 ~~240~~SH SOLE 209,~~000~~200 ISHARES MSCI GERMANY INDEX COM 464286806 100 4,300 SH SOLE ~~240~~4,~~000~~300

Filing Compare · PAYDEN & RYGEL INVESTMENT GROUP