Clients
Payden & Rygel serves 482 clients, 82 of them high-net-worth individuals. The average client has about $328 million with the firm, and high-net-worth clients hold 1% of its $158.2 billion in assets.
- Investment companies21 clients6%
- Pooled investment vehicles27 clients7%
- Pension and profit-sharing plans36 clients17%
- Charitable organizations105 clients12%
- State or municipal government entities42 clients25%
- OtherInsurance companies, Sovereign wealth funds and foreign official institutions, Corporations and other businesses, Individuals, High-net-worth individuals, Banking or thrift institutions, Other34%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 5 | $687,161 | 0.0% | $137K |
| High-net-worth individuals | 82 | $1,789,426,381 | 1.1% | $21.8M |
| Banking or thrift institutions | Not reported | $2,030,110,376 | 1.3% | — |
| Investment companies | 21 | $9,856,453,309 | 6.2% | $469.4M |
| Pooled investment vehicles | 27 | $11,517,682,756 | 7.3% | $426.6M |
| Pension and profit-sharing plans | 36 | $26,112,845,280 | 16.5% | $725.4M |
| Charitable organizations | 105 | $18,209,447,359 | 11.5% | $173.4M |
| State or municipal government entities | 42 | $39,388,058,306 | 24.9% | $937.8M |
| Insurance companies | 49 | $19,829,704,566 | 12.5% | $404.7M |
| Sovereign wealth funds and foreign official institutions | 10 | $3,368,464,232 | 2.1% | $336.8M |
| Corporations and other businesses | 85 | $25,591,396,745 | 16.2% | $301.1M |
| Other | 20 | $532,980,226 | 0.3% | $26.6M |
| Total | 482 | $158,227,256,697 | 100% | $328.3M |
- Clients
- 5
- Regulatory AUM
- $687,161
- Share
- 0.0%
- Avg. per client
- $137K
- Clients
- 82
- Regulatory AUM
- $1,789,426,381
- Share
- 1.1%
- Avg. per client
- $21.8M
- Clients
- Not reported
- Regulatory AUM
- $2,030,110,376
- Share
- 1.3%
- Avg. per client
- —
- Clients
- 21
- Regulatory AUM
- $9,856,453,309
- Share
- 6.2%
- Avg. per client
- $469.4M
- Clients
- 27
- Regulatory AUM
- $11,517,682,756
- Share
- 7.3%
- Avg. per client
- $426.6M
- Clients
- 36
- Regulatory AUM
- $26,112,845,280
- Share
- 16.5%
- Avg. per client
- $725.4M
- Clients
- 105
- Regulatory AUM
- $18,209,447,359
- Share
- 11.5%
- Avg. per client
- $173.4M
- Clients
- 42
- Regulatory AUM
- $39,388,058,306
- Share
- 24.9%
- Avg. per client
- $937.8M
- Clients
- 49
- Regulatory AUM
- $19,829,704,566
- Share
- 12.5%
- Avg. per client
- $404.7M
- Clients
- 10
- Regulatory AUM
- $3,368,464,232
- Share
- 2.1%
- Avg. per client
- $336.8M
- Clients
- 85
- Regulatory AUM
- $25,591,396,745
- Share
- 16.2%
- Avg. per client
- $301.1M
- Clients
- 20
- Regulatory AUM
- $532,980,226
- Share
- 0.3%
- Avg. per client
- $26.6M
Total
- Clients
- 482
- Regulatory AUM
- $158,227,256,697
- Share
- 100%
- Avg. per client
- $328.3M
What it does
Payden & Rygel provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities. It is paid through a percentage of assets, fixed fees and performance-based fees.
Payden & Rygel advises 3 private funds.
Nearly all assets ($158.22B across 865 accounts) are managed with discretion; $7.82M across 30 accounts are not. 12% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
The filed percentages total 101%. The values below are shown as filed.
- Exchange-traded equity securities
- 1%
- U.S. government/agency bonds
- 30%
- U.S. state and local bonds
- 2%
- Sovereign bonds
- 6%
- Investment grade corporate bonds
- 25%
- Non-investment grade corporate bonds
- 5%
- Securities issued by registered investment companies or business development companies
- 1%
- Cash and cash equivalents
- 15%
- Other (Other Includes Mortgage-Backed and Asset-Backed Securities.)
- 16%
Custodians
Payden & Rygel’s client accounts are held mainly at The Bank of New York Mellon, with 31% of managed assets, and State Street Bank and Trust, with 23%. Payden & Rygel does not have custody of client assets.
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $48.28B31%
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $37.07B23%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $27.17B17%
- U.S. BancorpU.S. Bancorp · Minneapolis, MN · $15.94B10%
- All other custodians$29.77B19%
Ownership and leadership
Joan Payden owns 50% to 75% of Payden & Rygel.
- Owns 50% to 75% of Payden & Rygel
Joan Payden
Control person · since August 1983
- Owns 5% to 10% of Payden & Rygel
Brian Matthews
Control person · since March 1994
Leadership
- Joan PaydenPresident and CEO, Director & Shareholder
- Reza PishvaManaging Director, Chief Compliance Officer
- Bradley HershManaging Director, Director and Treasurer
- Laura LakeManaging Director and Director
- Brian MatthewsManaging Director, CFO, Director and Shareholder
- Gregory MorrisonManaging Director and Director
Staff
- 194 employees
- 122 in advisory functions
- 50 broker-dealer reps
Reported holdings
Payden & Rygel’s reported 13F holdings total $1.30M across 131 positions, and the ten largest make up 29.0% of it.
- $1.30M
- Reported 13F value
- 131
- Positions
- 29.0%
- In the 10 largest
- +0.3%
- Value vs. prior quarter
- SPDR Gold Trust · Gold Shs3.7%
- Apple3.1%
- JPMORGAN Chase3.1%
- Vaneck Jpm EM Local Curr Bnd · JP Mrgan EM Loc3.0%
- Amazon.com3.0%
- Alphabet Inc.-cl A · Cap Stk CL A2.9%
- Microsoft2.6%
- Morgan Stanley2.6%
- Cisco Systems2.6%
- Corning2.4%
Together, the ten largest are 29.0% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $1.30M is not its $158.23B in regulatory assets and does not represent any individual client's portfolio.
Fees
Payden & Rygel is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.
Payden & Rygel’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Payden & Rygel has 1 office, with 2 listed addresses across 2 states.
California · 1 listed address
- 333 S. Grand Avenue, 40th Floor, Los AngelesHQ
Massachusetts · 1 listed address
- 265 Franklin Street, Boston
Registration details
- Legal name
- Payden & Rygel
- Headquarters
- 333 S. Grand Avenue, 40th Floor, Los Angeles, CA 90071
- Phone
- 213-625-1900
- Website
- www.payden.com
- SEC file
- 801-19762
- Structure
- California corporation
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Payden & Rygel have?
Payden & Rygel has 482 clients and manages $158.2 billion for them, as of July 2026. They include 105 charitable organizations, 85 corporations and other businesses and 82 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 15 July 2026
What services does Payden & Rygel offer?
Payden & Rygel provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Payden & Rygel use?
Payden & Rygel’s separately managed account assets are held at The Bank of New York Mellon (New York, NY), with $48,278,999,776, State Street Bank and Trust Company (Boston, MA), with $37,068,766,786, The Northern Trust Company (Chicago, IL), with $27,167,460,848 and U.S. Bancorp (Minneapolis, MN), with $15,937,629,661. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 15 July 2026
How many financial advisors does Payden & Rygel have?
Payden & Rygel has 0 investment adviser representatives registered with state securities authorities, out of 194 employees, and 122 perform investment advisory functions. 50 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Payden & Rygel invest in?
At the end of its last fiscal year, Payden & Rygel’s separately managed accounts held 30% U.S. government and agency bonds, 25% investment grade corporate bonds, 16% other includes mortgage-backed and asset-backed securities., 15% cash and equivalents, 6% sovereign bonds, 5% high-yield corporate bonds, 2% state and local bonds, 1% exchange-traded equities and 1% registered funds (mutual funds, ETFs, BDCs). It advises 3 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Payden & Rygel?
Payden & Rygel’s direct owners are Joan Payden (50% to 75%) and Brian Matthews (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 15 July 2026
How does Payden & Rygel get paid?
Payden & Rygel is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file