dynamicincomefund


Consolidated Schedule of Investments PIMCO Dynamic Income Fund	March 31, 2025 (Unaudited)


(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)
		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 139.4% ¤
LOAN PARTICIPATIONS AND ASSIGNMENTS 37.7%
Aligned Data Centers International LP 7.799% due 05/16/2028 «~	$	30,300	$	30,386
Altice France SA
5.785% (EUR003M + 3.000%) due 02/02/2026 ~	EUR	2,300		2,141
8.285% (EUR003M + 5.500%) due 08/15/2028 ~		1,497		1,455
9.802% due 08/15/2028 •	$	58,766		52,823
AP Core Holdings LLC
9.939% due 09/01/2027		425		387
9.939% due 09/01/2027 •		2,351		2,131
Apple Bidco LLC 6.825% due 09/23/2031		4,589		4,561
Bausch Health Cos., Inc. TBD% due 09/25/2030		36,400		35,080
Central Parent, Inc. 7.549% due 07/06/2029 ~		78,583		67,679
CIRCOR International, Inc. TBD% due 06/20/2029 «µ		1,066		1,086
Clover Holdings 2 LLC
TBD% due 12/10/2029 ~µ		6,575		6,478
8.295% due 12/09/2031 •		47,100		46,658
Clover Holdings SPV III LLC 15.000% due 12/09/2027		2,369		2,422
Comexposium
1.138% - 4.414% due 10/16/2031 «•	EUR	11,174		14,076
4.969% (EUR012M + 4.000%) due 03/28/2026 «~		64,347		81,058
4.969% due 03/28/2026 «•		18,770		23,644
CoreWeave Compute Acquisition Co. LLC
TBD% - 10.322% due 05/16/2029 «µ	$	79,200		79,556
13.908% - 13.950% due 06/30/2028 «		19,388		20,407
Cotiviti Corp. TBD% due 03/26/2032		5,100		4,992
Databricks, Inc.
TBD% due 01/03/2031 «µ		2,809		2,830
TBD% due 01/03/2031 «		12,691		12,786
Encina Private Credit LLC TBD% - 8.911% due 11/30/2025 «µ		1,810		1,779
Envision Healthcare Corp.
11.152% due 07/20/2026 «		15,953		15,953
12.277% due 11/03/2028 «		115,342		117,072
12.575% due 12/30/2027		57,810		58,128
Espai Barca Fondo De Titulizacion TBD% - 5.000% due 06/30/2028 «~	EUR	22,197		27,915
Finastra U.S.A., Inc.
TBD% - 11.428% due 09/13/2029 «µ	$	109		109
TBD% - 11.428% due 09/13/2029 «		1,384		1,401
First Brands Group LLC 9.552% due 03/30/2027 ~		8,285		7,720
Forward Air Corp. 8.791% due 12/19/2030 ~		75,354		73,348
Galaxy U.S. Opco, Inc.
9.041% - 9.291% due 07/31/2030 ~		8,700		7,358
9.041% - 9.291% due 07/31/2030		24,411		20,645
Gateway Casinos & Entertainment Ltd. 10.545% due 12/18/2030		67,816		68,664
GFL Environmental, Inc. 6.819% due 02/04/2032		5,000		4,963
GIP II Blue Holding LP 8.075% due 09/29/2028		1		1
Gray Television, Inc. 9.573% due 06/04/2029 ~		12,074		11,712
Harp Finco Ltd. TBD% - 9.956% due 01/30/2032 «	GBP	19,324		24,463
Hudson's Bay Co. TBD% due 04/03/2026 «	$	15,787		15,561
iHeartCommunications, Inc. 10.209% due 05/01/2029		15,161		12,362
Ivanti Software, Inc. 8.817% due 12/01/2027 «~		86,972		67,213
J&J Ventures Gaming LLC 9.439% due 04/26/2028 «~		9,323		9,406
Kaseya, Inc.
TBD% due 03/22/2032		9,530		9,512
9.325% due 03/05/2033		6,900		6,913


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Lealand Finance Co. BV 7.439% due 06/30/2027 ~		385	204
Lealand Finance Co. BV (5.439% Cash and 3.000% PIK) 8.439% due 12/31/2027 ~		6,460	2,810
Level 3 Financing, Inc. TBD% due 03/27/2032		800	792
Lifepoint Health, Inc. 8.052% due 05/17/2031 ~		32,602	31,692
Lumen Technologies, Inc.
6.789% due 04/15/2029 •		89,405	86,151
6.789% due 04/15/2030 •		72,684	69,947
MH Sub LLC 8.575% due 12/31/2031		4,988	4,595
MPH Acquisition Holdings LLC
8.037% due 12/31/2030		1,009	1,002
9.149% due 12/31/2030		10,367	8,557
Newfold Digital 7.929% due 02/10/2028 «~		68,460	51,003
Numericable Group SA
TBD% due 07/31/2025	EUR	200	186
TBD% (US0003M + 2.750%) due 07/31/2025 ~	$	2,000	1,740
Ocs Group Holdings Ltd. 10.450% due 11/27/2031 ~	GBP	43,500	56,156
Peraton Corp. 8.175% due 02/01/2028	$	33,538	29,924
Polaris Newco LLC 8.302% due 06/02/2028 ~		1,596	1,531
Poseidon Bidco SASU 7.355% (EUR003M + 5.000%) due 03/13/2030 ~	EUR	77,460	59,220
Project Alpha Intermediate Holding, Inc.
TBD% due 11/22/2032	$	3,500	3,487
7.549% due 10/28/2030 ~		6	6
Project Quasar Pledgco SLU 5.642% (EUR001M + 3.250%) due 03/15/2026 «~	EUR	12,110	12,374
Promotora de Informaciones SA
7.714% (EUR003M + 4.970%) due 06/30/2026 «~		5,200	5,623
7.964% (EUR003M + 5.220%) due 12/31/2026 ~		110,716	118,206
Promotora de Informaciones SA (5.714% Cash and 5.000% PIK) 10.714% (EUR003M + 2.970%) due 06/30/2027 ~		5,152	5,389
PURIS LLC 10.049% - 10.055% due 06/30/2031 «	$	15,106	15,161
Quantum Bidco Ltd. 10.231% due 01/31/2028	GBP	15,500	19,972
Republic of Cote d'lvoire 7.422% (EUR006M + 5.000%) due 03/19/2027 «~	EUR	400	435
Republic of Kenya 11.900% (PRIME + 4.400%) due 04/05/2028 «~	$	5,000	4,928
SCUR-Alpha 1503 GmbH
8.112% (EUR003M + 5.500%) due 03/29/2030 ~	EUR	16,200	16,993
9.791% due 03/29/2030 ~	$	61,940	57,903
Softbank Vision Fund II 6.000% due 12/23/2025 «•		25,849	25,614
Spruce Bidco, Inc.
TBD% due 01/30/2032 «µ		2,245	2,217
TBD% due 01/30/2032 «	CAD	1,799	1,235
TBD% due 01/30/2032 «	$	9,964	9,839
6.000% due 02/02/2032 «	JPY	192,883	1,270
Steenbok Lux Finco 2 SARL
10.000% due 06/30/2026	EUR	53,179	9,519
10.000% due 06/30/2026 •		215,405	81,770
10.000% due 06/30/2026 ~		18,821	5,607
Subcalidora 2 SARL 8.105% (EUR003M + 5.750%) due 08/14/2029 «~		52,304	56,839
Syniverse Holdings, Inc. 11.299% due 05/13/2027 •	$	110,772	109,022
Tecta America Corp. 7.325% due 02/18/2032		2,100	2,087
Thames Water Utilities Ltd. TBD% - 5.475% due 11/28/2025	GBP	7,235	7,278
The Stepstone Group MidCo 2 GMBH
TBD% due 12/04/2031 ~	EUR	48,100	51,877
TBD% due 12/04/2031 ~	$	9,500	9,393
Transnet SOC Ltd. 11.558% (JIBA3M + 4.000%) due 03/02/2028 «~	ZAR	176,657	9,539
U.S. Renal Care, Inc. 9.439% due 06/20/2028 ~	$	163,347	152,763
Ubisoft Entertainment SA
TBD% due 12/21/2025 «	EUR	7,589	8,001
TBD% due 12/22/2025 «(k)		5,500	5,694
Unicorn Bay 13.000% due 12/31/2026 «	HKD	376,758	48,660
VEON Ltd. TBD% due 03/25/2027 «	$	8,800	8,668
Veritas U.S., Inc. 16.799% due 12/09/2029		5,086	5,108


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Vista Management Holding, Inc. TBD% due 03/26/2031 «		450	447
Westmoreland Coal Co. 8.000% due 03/15/2029 «		7,231	2,712
X Corp. 10.949% due 10/26/2029 ~		64,000	63,680

Total Loan Participations and Assignments (Cost $2,511,870)			2,399,660

CORPORATE BONDS & NOTES 30.0%
BANKING & FINANCE 5.0%
ADLER Real Estate GmbH 3.000% due 04/27/2026 (m)	EUR	25,200	26,690
Alamo Re Ltd.
12.042% due 06/07/2027 ~	$	1,250	1,312
15.542% due 06/08/2026 ~		1,300	1,365
Ambac Assurance Corp. 5.100% due 12/31/2099 (j)		185	255
Armor Holdco, Inc. 8.500% due 11/15/2029 (m)		10,500	10,208
Armor RE Ltd.
12.792% due 01/07/2032 •		600	609
14.542% due 05/07/2031 ~		500	526
Azule Energy Finance PLC 8.125% due 01/23/2030 (m)		2,800	2,808
Bayou Re Ltd.
12.782% due 04/30/2031 •		250	265
22.782% due 04/30/2031 ~		250	281
BOI Finance BV 7.500% due 02/16/2027 (m)	EUR	10,000	10,828
Bonanza RE Ltd. 4.282% due 01/08/2026 ~	$	400	325
Bread Financial Holdings, Inc. 8.375% due 06/15/2035 ~		500	489
Cape Lookout Re Ltd. 12.282% due 04/05/2027 •		6,500	6,682
Charles River Re Ltd. 11.042% due 05/10/2031 •		250	255
CI Financial Corp. 7.500% due 05/30/2029 (m)		600	629
CIFI Holdings Group Co. Ltd.
4.375% due 04/12/2027 ^(e)		400	47
4.450% due 08/17/2026 ^(e)		300	35
5.250% due 05/13/2026 ^(e)		200	24
Claveau Re Ltd. 21.542% due 07/08/2028 ~		6,615	2,150
Corestate Capital Holding SA (10.000% Cash or 11.000% PIK) 10.000% due 12/31/2026 (d)	EUR	466	453
Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) 8.000% due 12/31/2026 (d)		318	139
Country Garden Holdings Co. Ltd.
2.700% due 07/12/2026 ^(e)	$	200	20
3.125% due 10/22/2025 ^(e)		1,200	120
3.875% due 10/22/2030 ^(e)		800	80
4.800% due 08/06/2030 ^(e)		200	20
6.150% due 09/17/2025 ^(e)		1,000	98
Credit Suisse AG AT1 Claim		5,060	607
East Lane Re Ltd. 13.542% due 03/31/2026 ~		1,100	1,108
Everglades Re Ltd.
14.792% due 05/13/2031 •		4,260	4,496
15.792% due 05/13/2031 •		4,260	4,496
17.042% due 05/13/2027 •		4,260	4,477
Fairfax India Holdings Corp. 5.000% due 02/26/2028 (m)		12,350	11,517
GN Bondco LLC 9.500% due 10/15/2031 (m)		26,309	26,342
Greengrove RE Ltd. 12.042% due 04/08/2032 •		1,500	1,506
Hannon Armstrong Sustainable Infrastructure Capital, Inc. 6.375% due 07/01/2034 (m)		1,700	1,681
Hestia Re Ltd.
11.042% due 03/13/2032 ~		500	499
12.542% due 03/13/2032 ~		500	499
Hudson Pacific Properties LP
3.950% due 11/01/2027 (m)		200	177
5.950% due 02/15/2028 (m)		200	174
Integrity RE Ltd.
12.282% due 06/06/2027 ~		250	250
14.032% due 06/06/2027 •		250	250
16.532% due 06/06/2028 ~		800	806
Integrity Re Ltd.
21.292% due 06/08/2026 •		3,200	3,451
27.292% due 06/08/2026 ~		3,200	3,320


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Integrity RE Ltd. 29.782% due 06/06/2027 ~		1,400	1,394
Itau Unibanco Holding SA 6.000% due 02/27/2030 (m)		3,500	3,577
Jefferson Capital Holdings LLC 6.000% due 08/15/2026 (m)		5,293	5,266
Kennedy Wilson Europe Real Estate Ltd. 3.250% due 11/12/2025 (m)	EUR	2,463	2,631
Long Walk Reinsurance Ltd. 14.032% due 01/30/2031 •	$	5,800	5,891
Longleaf Pine Re Ltd. 21.792% due 05/27/2031 ~		700	742
Nature Coast Re Ltd.
14.032% (T-BILL 3MO + 9.750%) due 04/10/2029 ~(c)		1,200	1,200
14.282% due 12/07/2030 ~		824	867
Orange Capital RE DAC 8.678% due 01/17/2029 ~	EUR	300	326
Palm RE Ltd. 13.792% due 06/09/2031 •	$	250	264
Panama Infrastructure Receivable Purchaser PLC 0.000% due 04/05/2032 (h)(m)		4,677	3,298
Polestar Re Ltd.
14.792% due 01/07/2028 •		2,300	2,378
17.542% due 01/07/2027 •		6,500	6,726
Preferred Term Securities Ltd. 4.930% due 09/23/2035 •		14	14
Purple Re Ltd. 13.282% due 06/07/2027 •		700	740
Quercus Re DAC 10.606% due 01/06/2031 ~	EUR	300	337
Sabine Re Ltd. 12.532% due 04/07/2031 ~	$	300	311
Sanders Re Ltd. 17.292% due 04/09/2029 •		11,610	11,550
SLM Corp. 6.500% due 01/31/2030 (m)		400	411
Sunac China Holdings Ltd. (5.000% Cash or 6.000% PIK) 5.000% due 09/30/2026 (d)		23	3
Sunac China Holdings Ltd. (5.250% Cash or 6.250% PIK) 5.250% due 09/30/2027 (d)		23	3
Sunac China Holdings Ltd. (5.500% Cash or 6.500% PIK) 5.500% due 09/30/2027 (d)		47	6
Sunac China Holdings Ltd. (5.750% Cash or 6.750% PIK) 5.750% due 09/30/2028 (d)		70	8
Sunac China Holdings Ltd. (6.000% Cash or 7.000% PIK) 6.000% due 09/30/2029 (d)		70	8
Sunac China Holdings Ltd. (6.250% Cash or 7.250% PIK) 6.250% due 09/30/2030 (d)		33	4
Titanium 2l Bondco SARL 6.250% due 01/14/2031 (m)	EUR	57,661	19,477
Torrey Pines Re Ltd.
10.282% due 06/07/2032 •	$	2,200	2,300
11.532% due 06/07/2032 •		1,300	1,367
13.282% due 06/05/2031 •		700	728
Uniti Group LP
6.000% due 01/15/2030 (m)		64,751	56,125
6.500% due 02/15/2029 (m)		17,515	15,758
10.500% due 02/15/2028 (m)		24,094	25,613
Ursa Re Ltd.
11.782% due 02/22/2028 ~		3,700	3,742
13.542% due 12/07/2028 •		6,800	7,208
Veraison Re Ltd.
9.292% due 03/08/2033 ~		300	301
16.824% due 03/10/2031 •		4,600	4,896
Voyager Aviation Holdings LLC 8.500% due 05/09/2026 ^«(e)		55,021	0
Windmill Re DAC 7.986% due 07/05/2028 ~	EUR	250	275
Winston RE Ltd. 10.792% due 02/21/2028 ~	$	300	300

			318,414

INDUSTRIALS 22.4%
Acadia Healthcare Co., Inc. 7.375% due 03/15/2033 (m)		4,500	4,501
Altice France Holding SA
4.000% due 02/15/2028	EUR	5,125	1,685
6.000% due 02/15/2028	$	3,300	969
8.000% due 05/15/2027	EUR	40,100	13,267
10.500% due 05/15/2027	$	36,590	10,744
Altice France SA
3.375% due 01/15/2028	EUR	19,500	16,808
4.000% due 07/15/2029		1,300	1,123
4.125% due 01/15/2029		100	86
4.250% due 10/15/2029		14,800	12,811


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


5.125% due 01/15/2029	$	6,436	5,060
5.125% due 07/15/2029		54,564	42,819
5.500% due 01/15/2028		9,800	7,844
5.500% due 10/15/2029		18,959	15,050
5.875% due 02/01/2027	EUR	300	290
8.125% due 02/01/2027	$	20,300	18,168
ams-OSRAM AG
10.500% due 03/30/2029 (m)	EUR	61,000	66,677
12.250% due 03/30/2029 (m)	$	31,628	32,534
Aris Water Holdings LLC 7.250% due 04/01/2030		1,700	1,721
Axon Enterprise, Inc.
6.125% due 03/15/2030 (m)		1,400	1,416
6.250% due 03/15/2033 (m)		1,000	1,013
B.C. Ltd. 10.000% due 04/15/2032 (c)		14,000	13,929
Capstone Copper Corp. 6.750% due 03/31/2033		700	698
Carvana Co. (11.000% Cash or 13.000% PIK) 11.000% due 06/01/2030 (d)(m)		4,153	4,400
Carvana Co. (14.000% PIK) 14.000% due 06/01/2031 (d)(m)		14,143	15,474
Central Parent LLC 8.000% due 06/15/2029 (m)		12,700	11,159
Central Parent, Inc. 7.250% due 06/15/2029 (m)		4,210	3,648
Cheplapharm Arzneimittel GmbH
4.375% due 01/15/2028 (m)	EUR	23,100	22,824
5.500% due 01/15/2028 (m)	$	20,500	18,364
7.500% due 05/15/2030	EUR	10,543	10,546
Chord Energy Corp. 6.750% due 03/15/2033 (m)	$	4,000	3,983
Claritev Corp. (6.500% Cash and 0.750% PIK) 7.250% due 03/31/2031 (d)		26,062	15,654
CVS Pass-Through Trust 7.507% due 01/10/2032 (m)		1,436	1,530
Deluxe Corp. 8.125% due 09/15/2029 (m)		300	302
DISH DBS Corp.
5.250% due 12/01/2026		80,815	74,335
5.750% due 12/01/2028		91,806	77,596
Diversified Gas & Oil Corp. 9.750% due 04/09/2029 «(c)		375	369
Ecopetrol SA
7.750% due 02/01/2032 (m)		101,100	99,310
8.375% due 01/19/2036 (m)		1,890	1,843
8.875% due 01/13/2033 (m)		3,500	3,615
ELO SACA
2.875% due 01/29/2026 (m)	EUR	2,200	2,334
3.250% due 07/23/2027 (m)		25,800	26,525
Exela Intermediate LLC (11.500% Cash) 11.500% due 04/15/2026 (d)	$	624	92
Flora Food Management BV 6.875% due 07/02/2029 (m)	EUR	10,200	11,222
Gazprom PJSC Via Gaz Capital SA
7.288% due 08/16/2037	$	300	221
8.625% due 04/28/2034		1,081	865
goeasy Ltd. 7.375% due 10/01/2030 (c)		2,900	2,848
HF Sinclair Corp. 5.750% due 01/15/2031 (m)		3,550	3,597
Incora Intermediate LLC 0.000% due 01/31/2030 «		66,873	66,873
Incora Top Holdco LLC 0.000% due 01/30/2033 ^«(e)(k)		49,687	71,802
INEOS Finance PLC 5.625% due 08/15/2030 (m)	EUR	1,400	1,514
Intelsat Jackson Holdings SA 6.500% due 03/15/2030 (m)	$	91,639	87,290
Inter Media & Communication SpA 6.750% due 02/09/2027 (m)	EUR	2,112	2,315
JetBlue Airways Corp. 9.875% due 09/20/2031 (m)	$	25,352	25,046
LifePoint Health, Inc. 8.375% due 02/15/2032 (m)		3,600	3,628
Motion Finco SARL 8.375% due 02/15/2032 (m)		1,200	1,168
MPH Acquisition Holdings LLC 5.750% due 12/31/2030 (m)		30,075	21,839
MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK) 11.500% due 12/31/2030 (d)(m)		4,620	4,017
Newfold Digital Holdings Group, Inc.
6.000% due 02/15/2029 «		37,300	22,380
11.750% due 10/15/2028 «		13,109	10,749
Noble Finance LLC 8.000% due 04/15/2030 (m)		2,800	2,800


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Olin Corp. 6.625% due 04/01/2033		900	876
Petroleos Mexicanos
6.700% due 02/16/2032 (m)		14,345	12,616
6.840% due 01/23/2030 (m)		6,700	6,145
8.750% due 06/02/2029 (m)		11,420	11,423
Prime Healthcare Services, Inc. 9.375% due 09/01/2029 (m)		31,100	29,378
ProFrac Holdings LLC 11.538% due 01/23/2029 ~(m)		21,822	22,586
Rivian Holdings LLC 10.502% due 10/15/2026 ~(m)		57,210	57,707
Russian Railways Via RZD Capital PLC 7.487% due 03/25/2031 ^(e)	GBP	200	181
Snap, Inc. 6.875% due 03/01/2033 (m)	$	1,500	1,501
Sunoco LP 6.250% due 07/01/2033		1,800	1,803
TGS ASA 8.500% due 01/15/2030 (m)		1,400	1,449
Thames Water Utilities Finance PLC
0.875% due 01/31/2028	EUR	900	713
1.250% due 01/31/2032		300	236
1.604% due 12/23/2027	$	400	287
2.375% due 04/22/2040	GBP	100	94
2.625% due 01/24/2032		600	565
3.500% due 02/25/2028		300	284
4.000% due 04/18/2027	EUR	500	403
4.375% due 01/18/2031		1,100	880
4.375% due 07/03/2034	GBP	900	863
4.625% due 06/04/2046		600	577
5.125% due 09/28/2037		300	288
5.500% due 02/11/2041		1,200	1,170
6.500% due 02/09/2032		400	388
7.125% due 04/30/2031		200	197
7.750% due 04/30/2044		400	402
Thames Water Utilities Ltd. 0.000% due 03/22/2027 (h)		112	117
Times Square Hotel Trust 8.528% due 08/01/2026	$	927	931
Toll Road Investors Partnership LP 0.000% due 02/15/2043 (h)(m)		18,029	5,859
Topaz Solar Farms LLC
4.875% due 09/30/2039 (m)		13,765	12,303
5.750% due 09/30/2039 (m)		46,445	44,765
U.S. Renal Care, Inc. 10.625% due 06/28/2028 (m)		13,209	11,294
Ubisoft Entertainment SA 0.878% due 11/24/2027	EUR	7,000	6,853
Valaris Ltd. 8.375% due 04/30/2030	$	6,000	6,011
Vale SA 0.000% due 12/29/2049 ~(j)	BRL	830,470	49,937
Venture Global LNG, Inc.
9.500% due 02/01/2029 (m)	$	22,668	24,321
9.875% due 02/01/2032 (m)		11,030	11,722
Viridien
7.750% due 04/01/2027	EUR	30,383	33,490
8.500% due 10/15/2030		18,500	20,544
10.000% due 10/15/2030	$	12,700	13,025
Wayfair LLC 7.750% due 09/15/2030 (m)		5,300	5,130
WESCO Distribution, Inc. 6.375% due 03/15/2033 (m)		4,700	4,728
WEX, Inc. 6.500% due 03/15/2033 (m)		1,000	990
Williams Scotsman, Inc. 6.625% due 04/15/2030		900	910
Xerox Corp.
10.250% due 10/15/2030 (c)		2,300	2,288
13.500% due 04/15/2031 (c)		2,300	2,205
Yellowstone Energy LP 5.750% due 12/31/2026 «		1,108	1,095
Yinson Boronia Production BV 8.947% due 07/31/2042 (m)		10,199	10,776
YPF SA 8.250% due 01/17/2034		600	594

			1,426,190

UTILITIES 2.6%
Edison International 6.250% due 03/15/2030 (m)		1,700	1,722
FORESEA Holding SA 7.500% due 06/15/2030 (m)		2,711	2,621


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Gazprom PJSC Via Gaz Finance PLC 3.000% due 06/29/2027		200	143
NGD Holdings BV 6.750% due 12/31/2026 (m)		4,729	4,256
Oi SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) 10.000% due 06/30/2027 (d)		22,702	18,985
10.000% due 06/30/2027 (d)(m)		83,079	69,475
Oi SA (8.500% PIK) 8.500% due 12/31/2028 (d)		147,720	15,510
Peru LNG SRL 5.375% due 03/22/2030 (m)		35,045	32,549
Raizen Fuels Finance SA
6.700% due 02/25/2037 (m)		4,600	4,608
6.950% due 03/05/2054 (m)		4,100	4,000
Tierra Mojada Luxembourg SARL 5.750% due 12/01/2040 (m)		4,887	4,551
Yinson Production Financial Services Pte. Ltd. 9.625% due 05/03/2029		8,900	9,314

			167,734

Total Corporate Bonds & Notes (Cost $2,094,654)			1,912,338

CONVERTIBLE BONDS & NOTES 0.1%
BANKING & FINANCE 0.1%
Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) 8.000% due 12/31/2026 (d)	EUR	2,423	1,061
PennyMac Corp. 5.500% due 03/15/2026 (m)	$	7,700	7,658

Total Convertible Bonds & Notes (Cost $10,490)			8,719

MUNICIPAL BONDS & NOTES 0.6%
ARIZONA 0.0%
Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 7.375% due 10/01/2029		850	878

MICHIGAN 0.1%
Michigan Tobacco Settlement Finance Authority Revenue Bonds, Series 2008 0.000% due 06/01/2046 (h)		23,000	3,092

WEST VIRGINIA 0.5%
Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007 0.000% due 06/01/2047 (h)		355,485	33,499

Total Municipal Bonds & Notes (Cost $49,595)			37,469

U.S. GOVERNMENT AGENCIES 2.7%
Fannie Mae
0.000% due 10/25/2042 •(m)		1,015	835
1.040% due 08/25/2043 ~(a)		16,343	613
1.466% due 07/25/2041 •(a)(m)		1,345	133
1.546% due 08/25/2038 •(a)		333	22
1.596% due 08/25/2049 •(a)		141	16
1.596% due 07/25/2059 •(a)(m)		5,710	680
1.616% due 10/25/2040 •(a)(m)		1,342	73
1.696% due 02/25/2043 •(a)(m)		1,267	141
1.896% due 12/25/2037 •(a)		29	2
2.066% due 09/25/2037 •(a)		226	15
2.146% due 03/25/2040 •(a)(m)		691	32
2.186% due 12/25/2036 •(a)(m)		970	109
2.196% due 11/25/2036 •(a)		32	1
2.266% due 06/25/2037 •(a)		137	9
2.353% due 01/25/2041 •(m)		2,390	2,384
2.389% due 10/25/2060 ~(a)(m)		14,825	1,116
2.526% due 03/25/2038 •(a)		609	70
2.546% due 02/25/2038 •(a)		368	43
3.000% due 01/25/2042 (a)		66	2
3.500% due 08/25/2032 (a)		511	42
3.500% due 06/25/2050 (a)(m)		15,075	2,734
4.000% due 06/25/2050 (a)(m)		1,898	372
4.500% due 04/25/2042 (a)		472	51
5.000% due 01/25/2048 (a)(m)		3,614	799
Freddie Mac
0.000% due 11/15/2048 •(a)(m)		30,012	1,436
0.700% due 11/25/2055 ~(a)(m)		254,933	15,657
1.150% due 09/15/2041 •(m)		602	559
1.487% due 04/15/2039 •(a)(m)		965	107
1.646% due 06/25/2050 •(a)(m)		884	102
1.687% due 01/15/2047 •(a)		219	25
1.696% due 05/25/2050 •(a)		6,196	793
1.737% due 09/15/2042 •(a)		347	29


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


1.837% due 05/15/2037 •(a)		662	57
1.947% due 05/15/2037 •(a)		37	3
1.960% due 01/25/2051 •(a)		5,741	979
1.960% due 01/25/2051 •(a)(m)		3,146	432
2.007% due 07/15/2036 •(a)(m)		815	80
2.010% due 11/25/2045 ~(a)(m)		75,137	3,626
2.117% due 09/15/2036 •(a)		269	27
2.137% due 05/15/2041 •(a)		532	50
2.237% due 04/15/2036 •(a)		123	10
3.000% due 06/25/2050 (a)(m)		10,230	1,814
3.120% due 10/25/2058 ~		2,130	889
3.317% due 09/15/2036 •(a)		429	59
3.500% due 07/25/2050 (a)(m)		20,978	3,733
3.780% due 05/25/2064 ~		3,998	1,969
3.904% due 05/25/2057 •		4,116	1,692
4.000% due 03/15/2027 (a)		26	0
4.000% due 07/25/2050 (a)(m)		16,568	3,767
4.250% due 09/25/2060 (m)		1,764	1,667
4.250% due 03/25/2061 ~(m)		700	636
4.392% due 11/25/2059 ~		12,700	5,756
4.500% due 11/25/2061 •(m)		3,900	3,288
4.521% due 11/25/2061 ~(a)		11,088	4,222
5.000% due 05/25/2048 (a)(m)		5,556	887
5.000% due 04/25/2062 ~		3,400	2,969
5.517% due 05/25/2060 ~		1,873	981
7.690% due 09/25/2041 •(m)		6,000	6,123
8.090% due 02/25/2042 ~(m)		16,000	16,556
9.090% due 02/25/2042 ~(m)		5,000	5,229
9.090% due 01/25/2051 •(m)		3,319	3,628
9.604% due 10/25/2029 •(m)		8,600	9,249
9.704% due 03/25/2061 ~		489	277
9.840% due 01/25/2034 •(m)		2,800	3,238
10.590% due 09/25/2041 •(m)		6,400	6,691
11.340% due 12/25/2041 •		500	532
11.440% due 01/25/2042 ~		3,800	4,047
11.840% due 10/25/2041 •(m)		17,796	18,952
12.140% due 11/25/2041 •		18,324	19,677
12.840% due 02/25/2042 ~(m)		2,350	2,543
13.164% due 09/25/2060 ~		1,585	1,152
15.265% due 11/25/2060 ~		1,181	840
Ginnie Mae
1.666% due 12/20/2048 •(a)(m)		2,413	232
1.686% due 08/20/2042 •(a)(m)		1,234	132
1.816% due 12/20/2040 •(a)		766	41
2.500% due 09/20/2036 (a)(m)		35,864	2,948
3.500% due 06/20/2042 (a)		154	17

Total U.S. Government Agencies (Cost $178,032)			170,699

NON-AGENCY MORTGAGE-BACKED SECURITIES 31.2%
225 Liberty Street Trust 4.649% due 02/10/2036 ~(m)		7,541	6,741
245 Park Avenue Trust
3.657% due 06/05/2037 ~		2,500	2,335
3.657% due 06/05/2037 ~(m)		8,861	8,194
280 Park Avenue Mortgage Trust
6.158% due 09/15/2034 •(m)		12,600	12,176
7.449% due 09/15/2034 •(m)		2,500	2,400
Adjustable Rate Mortgage Trust
4.695% due 03/25/2036 •(m)		2,871	1,691
4.735% due 03/25/2037 •(m)		622	684
5.025% due 03/25/2037 ~(m)		1,066	991
5.547% due 03/25/2036 ~(m)		18,669	9,312
6.078% due 11/25/2037 ~(m)		814	545
American Home Mortgage Assets Trust
4.975% due 11/25/2035 •		314	297
5.015% due 08/25/2037 •(m)		5,636	5,064
American Home Mortgage Investment Trust
4.975% due 03/25/2037 •		2,486	953
5.035% due 09/25/2045 •(m)		2,193	1,945
5.335% due 02/25/2044 •(m)		7,254	6,790
6.600% due 01/25/2037 þ		4,653	614
Anthracite Ltd. 5.678% due 06/20/2041		2,021	0
ASG Resecuritization Trust
3.846% due 01/28/2037 ~(m)		7,409	6,237
6.000% due 06/28/2037 ~(m)		24,542	11,283
Ashford Hospitality Trust
5.892% due 04/15/2035 •(m)		10,360	10,291
7.592% due 04/15/2035 •(m)		10,939	10,927
Atrium Hotel Portfolio Trust
6.267% due 12/15/2036 •(m)		1,840	1,777
6.567% due 12/15/2036 •(m)		8,800	8,363
Avon Finance PLC
0.000% due 12/28/2049 (a)	GBP	9,500	3
0.000% due 12/28/2049 (b)(h)		11,488	11,244


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


7.957% due 12/28/2049 •(m)		11,241	14,549
8.207% due 12/28/2049 •(m)		8,564	10,995
8.457% due 12/28/2049 •		2,676	3,264
8.457% due 12/28/2049 •(m)		7,264	6,571
BAMLL Commercial Mortgage Securities Trust 2.627% due 01/15/2032 (m)	$	18,810	16,839
Banc of America Alternative Loan Trust
2.205% due 06/25/2037 •(a)		263	32
4.795% due 06/25/2037 •		245	176
6.000% due 06/25/2037		82	69
6.000% due 06/25/2046		37	32
6.000% due 07/25/2046 (m)		562	487
Banc of America Funding Trust
0.000% due 06/26/2035 ~(m)		1,376	1,343
0.000% due 11/26/2036 ~(m)		24,718	8,618
2.906% due 12/20/2034 ~		194	139
3.780% due 05/26/2036 ~		4,548	3,687
4.425% due 08/25/2047 ~(m)		2,154	1,814
4.487% due 01/20/2047 ~		69	60
4.490% due 09/20/2037 ~		324	256
4.622% due 10/20/2046 ~		256	216
4.718% due 03/20/2036 ~(m)		714	608
4.825% due 09/20/2047 ~		135	118
4.854% due 04/20/2047 •(m)		3,914	3,125
4.855% due 04/25/2037 •(m)		843	704
5.109% due 02/20/2035 •(m)		2,349	2,263
5.130% due 01/25/2035 ~		79	77
5.723% due 04/20/2035 •(m)		801	740
6.000% due 10/25/2037 (m)		2,584	2,253
6.480% due 12/20/2036 ~		18	18
6.619% due 07/26/2036 ~(m)		8,243	2,435
6.878% due 09/20/2046 ~(m)		432	418
Banc of America Mortgage Trust
5.750% due 10/25/2036 (m)		479	398
5.750% due 05/25/2037		535	413
5.985% due 01/25/2036 ~		86	84
6.000% due 10/25/2036		58	49
7.497% due 10/20/2046 ~		16	14
Barclays Commercial Mortgage Securities Trust 8.167% due 07/15/2037 •(m)		2,600	2,189
Barclays Commercial Real Estate Trust 4.563% due 08/10/2033 ~		7,790	6,072
Bayview Commercial Asset Trust 4.765% due 03/25/2037 •(m)		107	103
BCAP LLC Trust
2.585% due 02/26/2037 ~(m)		7,192	5,770
3.714% due 04/26/2037 ~(m)		5,653	4,808
3.973% due 07/26/2036 ~		352	311
4.211% due 05/26/2037 ~		1,402	1,248
4.359% due 02/26/2047 •(m)		9,864	8,019
4.495% due 10/26/2037 ~		4,306	2,750
4.593% due 02/26/2036 ~(m)		2,231	1,510
4.775% due 03/26/2037 •(m)		687	563
4.885% due 05/26/2036 •(m)		3,129	2,644
4.934% due 05/26/2035 •(m)		4,147	3,658
5.122% due 03/27/2037 •(m)		4,037	3,433
5.500% due 12/26/2035 ~(m)		8,031	4,889
5.735% due 11/26/2035 ~(m)		1,903	1,625
5.793% due 06/26/2036 ~(m)		1,928	1,620
6.000% due 06/26/2037 ~(m)		1,235	1,105
6.000% due 08/26/2037 ~(m)		2,035	1,608
6.000% due 10/26/2037 •(m)		1,514	1,030
6.303% due 07/26/2035 ~		97	91
7.407% due 07/26/2045 ~(m)		2,253	2,170
10.479% due 01/26/2036 ~(m)		22,815	7,043
Bear Stearns Adjustable Rate Mortgage Trust
4.337% due 08/25/2047 ~		106	93
4.429% due 06/25/2047 ~(m)		1,210	1,064
4.526% due 02/25/2036 •		257	237
6.815% due 10/25/2036 ~		30	29
6.899% due 09/25/2034 ~		15	14
7.315% due 09/25/2034 ~		11	10
Bear Stearns ALT-A Trust
4.019% due 05/25/2036 ~		184	172
4.052% due 04/25/2037 ~(m)		3,418	2,385
4.318% due 04/25/2035 ~		101	92
4.346% due 11/25/2036 •		1,401	646
4.358% due 11/25/2035 ~(m)		8,060	4,373
4.536% due 08/25/2036 •		272	128
4.553% due 07/25/2035 ~		184	132
4.711% due 07/25/2036 ~(m)		45,755	20,025
4.750% due 11/25/2035 ~		21	14
4.755% due 06/25/2046 •(m)		986	888
4.757% due 12/25/2046 •(m)		3,067	1,525
4.775% due 08/25/2036 •(m)		12,793	11,446
4.798% due 05/25/2036 •		6,342	2,680


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


4.814% due 08/25/2046 ~(m)		3,721	2,573
4.821% due 03/25/2036 •(m)		981	573
4.835% due 02/25/2034 ~(m)		1,481	1,364
4.935% due 01/25/2036 •(m)		2,867	2,726
4.973% due 05/25/2035 ~		87	84
5.039% due 09/25/2035 •(m)		7,189	2,434
5.560% due 01/25/2035 •(m)		744	705
5.560% due 03/25/2035 •(m)		5,536	4,729
6.625% due 09/25/2034 ~		165	158
Bear Stearns Asset-Backed Securities Trust
6.000% due 12/25/2035		232	129
6.500% due 03/25/2037 þ(m)		8,782	7,851
Beast Mortgage Trust
6.070% due 02/15/2037 •(m)		3,300	2,245
7.884% due 03/15/2036 •(m)		6,000	3,582
Benchmark Mortgage Trust
2.994% due 04/15/2054 «•		1,196	846
2.994% due 04/15/2054 ~		200	132
3.294% due 12/15/2062 •		700	37
3.899% due 03/15/2062 ~(m)		13,630	10,003
Beneria Cowen & Pritzer Collateral Funding Corp. 8.072% due 06/15/2038 •(m)		11,850	2,533
BIG Commercial Mortgage Trust 6.660% due 02/15/2039 •(m)		485	482
BMO Mortgage Trust 3.269% due 02/17/2055 ~(m)		7,850	6,930
Bridgegate Funding PLC
0.000% due 10/16/2062 (m)	GBP	39,972	45,450
0.000% due 10/16/2062 ~		20,785	9,322
0.000% due 10/16/2062 (h)		5,795	0
10.556% due 10/16/2062 (m)		23,983	30,825
13.567% due 10/16/2062 •(m)		11,991	17,731
BSREP Commercial Mortgage Trust
5.384% due 08/15/2038 •(m)	$	6,135	5,852
5.784% due 08/15/2038 •(m)		426	381
BX Trust
6.283% due 11/15/2038 •(m)		19,182	19,120
6.630% due 11/15/2038 •(m)		6,644	6,623
6.678% due 10/15/2036 ~(m)		12,000	11,922
6.783% due 04/15/2034 •(m)		6,000	5,593
6.783% due 02/15/2038 ~(m)		1,878	1,813
6.861% due 10/15/2026 •(m)		1,212	1,197
7.520% due 04/15/2034 •		4,000	3,568
CALI Mortgage Trust 3.957% due 03/10/2039 (m)		17,100	15,893
CBA Commercial Small Balance Commercial Mortgage 6.040% due 01/25/2039 þ		210	202
CD Mortgage Trust 5.688% due 10/15/2048 (m)		1,159	1,082
Chase Mortgage Finance Trust
4.648% due 01/25/2036 ~(m)		2,625	2,379
5.089% due 03/25/2037 ~(m)		835	809
6.000% due 03/25/2037		503	272
Citigroup Commercial Mortgage Trust
3.790% due 12/15/2072 ~		3,400	930
3.790% due 12/15/2072 •		1,511	232
Citigroup Global Markets Mortgage Securities 6.500% due 02/25/2029		92	90
Citigroup Mortgage Loan Trust
0.000% due 08/25/2037 ~		1,629	59
3.915% due 07/25/2036 ~(m)		1,770	1,033
4.789% due 10/25/2035 ~(m)		581	545
4.821% due 09/25/2037 •(m)		2,400	2,217
4.841% due 04/25/2037 •		241	215
5.022% due 03/25/2037 ~		1,581	1,404
5.466% due 08/25/2034 ~(m)		4,757	4,435
5.481% due 03/25/2037 ~		362	335
5.500% due 11/25/2035		170	158
5.500% due 12/25/2035 (m)		1,875	922
5.619% due 02/25/2036 ~(m)		3,705	3,537
6.000% due 07/25/2036 (m)		3,914	1,881
6.300% due 03/25/2036 ~		62	62
6.500% due 09/25/2036		816	420
6.951% due 03/25/2037 ~		152	155
Colony Mortgage Capital Ltd.
6.355% due 11/15/2038 •(m)		2,020	1,935
6.704% due 11/15/2038 •(m)		8,005	7,594
7.400% due 11/15/2038 ~(m)		15,475	13,945
8.096% due 11/15/2038 •(m)		24,000	20,769
COLT Mortgage Loan Trust 4.669% due 03/25/2067 •(m)		4,900	4,677
Commercial Mortgage Trust
2.819% due 01/10/2039 (m)		9,131	8,558
8.584% due 12/15/2038 •(m)		10,004	8,807
9.434% due 12/15/2038 •(m)		5,000	4,215
10.434% due 12/15/2038 •		3,360	2,702


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Connecticut Avenue Securities Trust
7.090% due 12/25/2041 •(m)	2,600	2,644
9.590% due 03/25/2042 ~(m)	1,400	1,489
9.840% due 12/25/2041 •(m)	5,966	6,211
10.340% due 10/25/2041 •(m)	16,801	17,515
10.340% due 12/25/2041 •	500	524
10.690% due 05/25/2042 •(m)	550	600
13.840% due 03/25/2042 ~(m)	3,400	3,814
14.940% due 05/25/2042 •(m)	600	692
Countrywide Alternative Loan Resecuritization Trust 7.000% due 01/25/2037	5,021	871
Countrywide Alternative Loan Trust
0.825% due 12/25/2035 ~(a)	7,178	294
1.796% due 12/25/2035 ~(a)	2,533	188
2.715% due 07/25/2036 •(a)	6,555	1,209
4.425% due 06/25/2037 ~	66	59
4.624% due 03/20/2047 •	341	292
4.685% due 06/25/2037 •	476	396
4.785% due 05/25/2036 •(m)	1,158	319
4.785% due 08/25/2036 ~	738	298
4.795% due 05/25/2036 •(m)	6,002	5,603
4.815% due 09/25/2046 •(m)	4,765	4,420
4.855% due 08/25/2047 •(m)	724	615
4.875% due 05/25/2047 •(m)	3,326	2,478
4.895% due 03/25/2036 •(m)	6,382	6,264
4.935% due 06/25/2037 •(m)	5,003	4,119
4.955% due 07/25/2036 •(m)	6,780	5,817
5.034% due 11/20/2035 •	58	54
5.115% due 09/25/2035 •(m)	2,412	1,597
5.115% due 10/25/2046 ~	83	61
5.135% due 10/25/2035 •	403	247
5.321% due 05/25/2036 •(m)	1,630	1,551
5.485% due 11/25/2046 •(m)	2,033	1,820
5.500% due 07/25/2035	702	358
5.500% due 10/25/2035	98	66
5.500% due 11/25/2035	1,378	774
5.500% due 11/25/2035 (m)	1,243	716
5.500% due 12/25/2035	689	349
5.500% due 01/25/2036	53	51
5.500% due 02/25/2036	810	469
5.500% due 02/25/2036 (m)	706	482
5.500% due 05/25/2036 (m)	2,955	2,420
5.500% due 04/25/2037 (m)	1,457	686
5.500% due 12/27/2049	13	12
5.750% due 01/25/2036	123	62
5.750% due 05/25/2036	142	54
5.750% due 01/25/2037 (m)	7,319	3,576
5.750% due 04/25/2037 (m)	855	711
5.895% due 11/25/2035 •(m)	6,820	6,413
5.945% due 07/20/2035 •(m)	3,830	3,437
6.000% due 03/25/2035	282	129
6.000% due 11/25/2035	315	45
6.000% due 04/25/2036	616	281
6.000% due 08/25/2036	215	112
6.000% due 11/25/2036	206	110
6.000% due 12/25/2036	670	267
6.000% due 01/25/2037 (m)	728	434
6.000% due 01/25/2037	551	456
6.000% due 02/25/2037	2,107	782
6.000% due 03/25/2037	2,424	922
6.000% due 03/25/2037 (m)	7,867	2,992
6.000% due 04/25/2037 (m)	8,745	3,933
6.000% due 09/25/2037 (m)	7,432	2,530
6.250% due 12/25/2036 ~	496	206
6.500% due 06/25/2036	340	156
6.500% due 11/25/2036 (m)	8,376	2,510
7.605% due 07/25/2035 ~	50	44
12.392% due 05/25/2037 •	649	535
Countrywide Home Loan Mortgage Pass-Through Trust
3.805% due 06/20/2035 •	2	2
3.940% due 03/25/2037 ~(m)	2,628	2,203
4.611% due 11/20/2035 ~(m)	4,148	3,822
4.693% due 05/20/2036 ~(m)	371	343
4.950% due 08/20/2035 ~	20	18
5.000% due 11/25/2035	19	7
5.035% due 03/25/2035 •	146	86
5.115% due 03/25/2036 ~	32	6
5.136% due 11/25/2035 ~(m)	711	585
5.317% due 09/25/2047 ~(m)	1,579	1,245
5.459% due 09/20/2036 ~(m)	1,594	1,419
5.500% due 12/25/2034	39	39
5.500% due 08/25/2035	29	15
5.500% due 11/25/2035	23	12
5.817% due 06/25/2047 •(m)	1,057	1,039
6.000% due 07/25/2037	141	63
6.000% due 08/25/2037 (m)	2,969	1,288


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


6.000% due 08/25/2037		1	1
6.305% due 03/25/2046 •(m)		15,065	11,207
Credit Suisse First Boston Mortgage Securities Corp.
6.000% due 01/25/2036		235	140
7.500% due 05/25/2032		571	599
Credit Suisse Mortgage Capital Mortgage-Backed Trust
2.188% due 02/27/2047 ~(m)		30,193	11,138
3.716% due 08/15/2037 ~(m)		7,296	7,118
3.778% due 11/10/2032 •		2,500	501
4.019% due 05/26/2036 ~(m)		2,370	2,049
4.097% due 04/28/2037 •		1,339	1,228
4.183% due 05/27/2036 ~(m)		1,040	866
4.348% due 09/26/2047 ~(m)		15,293	7,091
4.394% due 12/29/2037 •(m)		2,770	1,453
4.719% due 04/26/2035 ~(m)		5,885	5,362
4.756% due 10/26/2036 ~(m)		8,124	7,568
5.035% due 07/25/2036 •		406	68
5.043% due 07/26/2037 ~(m)		4,950	4,460
5.181% due 01/15/2049 ~		10,300	8,052
5.309% due 06/25/2036 ~(m)		2,596	2,361
5.750% due 05/26/2037 (m)		10,141	4,646
5.834% due 07/15/2038 •(m)		1,000	904
6.000% due 07/25/2036		1,669	803
6.344% due 07/15/2032 •(m)		3,121	3,104
6.396% due 04/25/2036 þ(m)		4,077	2,125
6.500% due 05/25/2036		2,662	886
6.500% due 07/26/2036 (m)		11,413	2,549
7.000% due 08/26/2036 (m)		14,223	2,616
7.000% due 08/27/2036		2,931	1,536
7.334% due 07/15/2038 •		15,850	7,486
7.744% due 07/15/2032 ~(m)		7,454	7,440
8.334% due 07/15/2038 •		13,700	3,822
8.794% due 07/15/2032 •(m)		15,000	14,891
9.794% due 07/15/2032 •		4,000	3,892
20.382% due 11/27/2037 •(m)		8,464	7,256
25.211% due 11/25/2037 •(m)		6,590	5,575
CSAB Mortgage-Backed Trust 5.500% due 05/25/2037 (m)		1,811	1,218
DBGS Mortgage Trust
5.212% due 06/15/2033 ~(m)		1,100	1,030
5.397% due 06/15/2033 •(m)		1,600	1,469
5.829% due 10/15/2036 •(m)		1,000	993
7.584% due 10/15/2036 •		26,404	21,398
DBWF Mortgage Trust 3.791% due 12/10/2036 (m)		17,961	17,492
Deutsche ALT-A Securities, Inc. Mortgage Loan Trust
4.585% due 02/25/2047 •		291	164
4.735% due 04/25/2037 •(m)		3,316	2,318
5.500% due 12/25/2035		406	341
6.250% due 07/25/2036 ~		33	28
Deutsche Mortgage Securities, Inc. Mortgage Loan Trust 5.500% due 09/25/2033		54	55
DOLP Trust 3.704% due 05/10/2041 •(m)		29,000	21,155
Downey Savings & Loan Association Mortgage Loan Trust 4.611% due 04/19/2047 •		189	183
Ellington Financial Mortgage Trust
0.000% due 02/25/2068 ~(a)		238,546	2,820
0.250% due 02/25/2068 ~(a)		238,546	518
6.768% due 02/25/2068 ~(m)		29,973	28,793
Eurosail PLC
0.000% due 06/13/2045 •	GBP	6	727
3.393% due 03/13/2045 •(m)	EUR	7,067	6,723
5.830% due 06/13/2045 •(m)	GBP	14,072	15,835
6.180% due 09/13/2045 •(m)		15,554	18,579
6.330% due 06/13/2045 •(m)		8,667	9,094
6.830% due 09/13/2045 •(m)		11,113	12,657
8.080% due 06/13/2045 •(m)		3,082	2,993
8.430% due 09/13/2045 •(m)		9,266	11,779
Extended Stay America Trust 8.133% due 07/15/2038 ~(m)	$	39,756	39,808
First Horizon Alternative Mortgage Securities Trust
0.000% due 12/26/2049 (b)(h)		2	0
2.665% due 11/25/2036 •(a)		719	78
4.504% due 02/25/2036 ~		24	17
5.260% due 05/25/2036 ~		374	314
5.391% due 11/25/2036 ~		362	252
5.514% due 08/25/2035 ~		58	3
6.250% due 11/25/2036		55	15
First Horizon Mortgage Pass-Through Trust
3.875% due 07/25/2037 ~		8	4
5.206% due 01/25/2037 ~		186	98
5.208% due 05/25/2037 ~		2,248	952
5.500% due 08/25/2037		213	73
GC Pastor Hipotecario FTA 2.596% due 06/21/2046 •(m)	EUR	12,869	12,766


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


GMAC Mortgage Corp. Loan Trust 3.774% due 07/19/2035 •	$	16	14
GreenPoint Mortgage Funding Trust
4.795% due 01/25/2037 •		450	410
4.835% due 12/25/2046 ~(m)		2,223	2,152
GS Mortgage Securities Corp. Trust
5.566% due 07/15/2035 •		1,298	1,013
7.166% due 11/15/2032 •(m)		10,358	10,308
GS Mortgage Securities Trust 0.429% due 08/10/2043 •(a)		977	0
GS Mortgage-Backed Securities Trust
0.000% due 07/25/2059 ~(a)		225,559	2,062
3.793% due 07/25/2059 ~(m)		20,073	13,538
GSC Capital Corp. Mortgage Trust 4.795% due 05/25/2036 •(m)		894	863
GSR Mortgage Loan Trust
4.739% due 01/25/2036 ~		246	229
4.885% due 07/25/2037 •		228	54
5.555% due 12/25/2034 ~		7	7
6.000% due 09/25/2034		233	235
6.500% due 08/25/2036 •		592	175
6.947% due 11/25/2035 •		115	60
HarborView Mortgage Loan Trust
4.101% due 08/19/2036 ~		37	32
4.794% due 06/19/2045 ~		901	417
4.811% due 02/19/2046 ~(m)		622	577
4.851% due 11/19/2036 •(m)		480	443
4.911% due 03/19/2036 •(m)		6,146	5,628
4.931% due 01/19/2036 •(m)		3,939	2,569
4.991% due 06/19/2034 ~		62	57
5.071% due 01/19/2035 ~		94	77
5.409% due 06/20/2035 •(m)		3,242	2,935
5.784% due 06/20/2035 •		748	666
Hilton USA Trust 2.828% due 11/05/2035		1,000	829
HomeBanc Mortgage Trust
4.726% due 04/25/2037 •(m)		2,012	1,816
4.935% due 03/25/2035 •(m)		2,925	2,367
HSI Asset Loan Obligation Trust 6.000% due 06/25/2037 (m)		1,607	1,410
IM Pastor Fondo de Titluzacion Hipotecaria
2.527% due 03/22/2043 •(m)	EUR	10,159	9,711
2.527% due 03/22/2044 •(m)		16,497	16,045
Impac CMB Trust
4.955% due 11/25/2035 •	$	76	68
5.155% due 10/25/2034 •		28	28
Impac Secured Assets Trust
4.655% due 05/25/2037 •		2	1
5.295% due 03/25/2036 •(m)		827	684
IndyMac IMSC Mortgage Loan Trust 4.039% due 06/25/2037 •(m)		2,563	1,578
IndyMac INDA Mortgage Loan Trust
3.045% due 03/25/2037 ~		13	11
4.369% due 12/25/2036 •		378	297
IndyMac INDX Mortgage Loan Trust
3.229% due 06/25/2037 •		123	100
3.260% due 02/25/2035 ~		188	168
3.360% due 05/25/2037 ~(m)		1,426	1,142
4.073% due 11/25/2035 •(m)		2,006	1,901
4.152% due 06/25/2036 •(m)		482	423
4.155% due 11/25/2036 ~(m)		494	462
4.835% due 11/25/2046 •(m)		3,001	2,859
4.855% due 11/25/2036 •		88	83
4.895% due 04/25/2035 ~		29	27
4.935% due 02/25/2037 •(m)		1,905	1,260
5.035% due 07/25/2036 •		295	195
5.235% due 08/25/2034 •		95	87
5.295% due 09/25/2034 •		169	147
Jefferies Resecuritization Trust 6.000% due 12/26/2036 ~		3,442	886
JP Morgan Alternative Loan Trust
4.308% due 05/25/2036 •		533	299
4.835% due 06/25/2037 •(m)		21,006	7,562
4.938% due 06/27/2037 ~(m)		4,208	2,580
4.972% due 11/25/2036 ~		42	51
5.500% due 11/25/2036 ~		8	3
6.000% due 12/25/2035		486	325
6.039% due 06/27/2037 ~(m)		13,052	6,248
6.460% due 12/25/2036 þ(m)		1,399	1,402
JP Morgan Chase Commercial Mortgage Securities Trust
2.287% due 03/05/2042 (m)		2,210	2,006
3.861% due 12/05/2038 ~		2,400	412
3.861% due 12/05/2038 •		450	47
4.128% due 07/05/2031 (m)		3,360	3,122
4.248% due 07/05/2033 (m)		6,360	5,985
4.379% due 07/05/2031 (m)		13,293	11,051


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


4.916% due 04/15/2037 •(m)		976	958
5.426% due 04/15/2037 •(m)		1,464	1,430
5.811% due 07/05/2033 ~(m)		3,000	2,758
5.983% due 12/15/2036 •		7,905	2,208
6.184% due 03/15/2036 •(m)		7,900	5,989
6.433% due 12/15/2036 •		3,030	143
6.524% due 06/15/2038 •(m)		2,000	1,833
6.667% due 02/15/2035 •		699	670
7.183% due 12/15/2036 •		4,800	50
7.235% due 10/05/2040 (m)		1,000	1,058
7.617% due 02/15/2035 ~(m)		13,987	13,459
8.099% due 11/15/2038 •(m)		9,000	8,946
8.849% due 11/15/2038 •		1,500	1,484
9.844% due 11/15/2038 •		22,700	22,015
JP Morgan Mortgage Trust
4.471% due 10/25/2036 ~		220	123
4.578% due 05/25/2036 ~		159	130
4.619% due 10/25/2036 •		11	8
4.758% due 06/25/2037 ~(m)		1,396	1,070
5.686% due 07/25/2035 ~		13	12
6.000% due 08/25/2037		325	144
JP Morgan Resecuritization Trust
6.000% due 09/26/2036 •(m)		916	688
6.500% due 04/26/2036 ~		3,825	1,071
7.613% due 03/21/2037 ~		217	209
Lansdowne Mortgage Securities PLC
2.841% due 09/16/2048 •(m)	EUR	4,627	4,653
3.346% due 06/15/2045 •		900	801
Lavender Trust
6.000% due 11/26/2036 (m)	$	5,592	5,332
6.250% due 10/26/2036 (m)		3,408	1,585
Lehman Mortgage Trust
5.752% due 04/25/2036 •		167	105
6.000% due 08/25/2036		421	322
6.000% due 09/25/2036		324	152
6.000% due 05/25/2037		8	8
6.000% due 01/25/2038		307	296
6.500% due 09/25/2037		3,133	1,118
7.250% due 09/25/2037		31,066	9,564
Lehman XS Trust
4.995% due 07/25/2037 •(m)		22,501	15,901
5.335% due 08/25/2047 •		191	160
5.435% due 07/25/2047 •(m)		3,348	3,054
MASTR Adjustable Rate Mortgages Trust
4.099% due 10/25/2034 •		160	146
5.115% due 05/25/2047 •(m)		6,765	5,612
MASTR Alternative Loan Trust
4.785% due 03/25/2036 •(m)		19,917	1,897
4.835% due 03/25/2036 •(m)		26,326	2,539
7.000% due 10/25/2047 (m)		10,521	4,180
Merrill Lynch Alternative Note Asset Trust 6.000% due 05/25/2037 (m)		2,152	1,639
Merrill Lynch Mortgage Investors Trust
4.456% due 03/25/2036 ~(m)		5,350	2,623
5.430% due 05/25/2036 ~(m)		830	782
MF1 LLC 8.539% due 12/15/2034 •		2,750	2,648
MF1 Ltd. 7.139% due 12/15/2034 •		475	463
MFA Trust 4.039% due 04/25/2065 ~(m)		14,456	13,672
Mill City Mortgage Loan Trust
0.000% due 08/25/2058 ~		48,178	628
0.000% due 08/25/2058 ~(a)		46,951	212
0.000% due 08/25/2059 ~(a)		30,601	644
0.000% due 04/25/2066 ~(a)		68,487	309
0.010% due 04/25/2066 (a)		68,487	17
0.080% due 08/25/2059 ~(a)		27,208	149
1.756% due 08/25/2058 ~		1,379	789
2.030% due 04/25/2066 ~		2,906	1,584
2.590% due 08/25/2058 ~		2,759	1,736
3.076% due 04/25/2066 ~		2,459	1,138
3.078% due 04/25/2066 ~(m)		3,615	2,504
3.078% due 04/25/2066 ~		3,615	2,268
3.250% due 08/25/2058 ~		2,759	1,960
3.250% due 08/25/2059 ~(m)		3,063	2,519
3.250% due 08/25/2059 •		2,924	2,143
3.880% due 08/25/2059 ~		4,329	2,644
3.880% due 08/25/2059 •		1,267	589
Morgan Stanley Capital Trust
3.912% due 09/09/2032 (m)		25,312	22,773
5.384% due 12/15/2036 ~(m)		6,246	5,392
5.934% due 12/15/2036 •		453	87
6.678% due 12/15/2036 •(m)		18,590	855
6.817% due 11/15/2034 •(m)		6,183	5,943
8.629% due 12/15/2038 •		18,000	14,667


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


9.528% due 12/15/2038 •		19,500	15,684
Morgan Stanley Mortgage Capital Holdings Trust 3.740% due 09/13/2039 ~		1,780	1,566
Morgan Stanley Mortgage Loan Trust
4.659% due 05/25/2036 ~		1,347	530
4.745% due 01/25/2035 •		220	208
4.775% due 05/25/2036 •		139	25
5.551% due 07/25/2035 •		418	345
5.750% due 12/25/2035		152	100
5.962% due 06/25/2036 ~		1,741	494
6.000% due 08/25/2037		136	47
6.663% due 01/25/2035 ~		133	116
Morgan Stanley Re-REMIC Trust
2.892% due 03/26/2037 þ(m)		1,018	1,046
3.199% due 02/26/2037 ~(m)		1,713	1,570
5.691% due 07/26/2035 •(m)		3,945	3,871
5.807% due 06/26/2035 •(m)		9,257	6,835
6.000% due 04/26/2036 (m)		5,809	5,776
6.759% due 09/26/2035 ~(m)		257	247
Morgan Stanley Residential Mortgage Loan Trust
0.325% due 01/25/2070 «~(a)		60,000	420
0.375% due 12/25/2068 ~(a)		214,140	816
1.358% due 01/25/2070 «~(a)		60,000	2,097
1.560% due 12/25/2068 (a)		214,140	5,126
7.152% due 01/25/2070 «~		1,900	1,794
7.878% due 12/25/2068 ~		4,006	3,782
Mortgage Equity Conversion Asset Trust 4.000% due 07/25/2060 (m)		1,166	1,096
Mortgage Funding PLC 7.780% due 03/13/2046 •(m)	GBP	1,000	1,291
MortgageIT Mortgage Loan Trust 5.095% due 05/25/2035 •	$	13	13
MRCD Mortgage Trust 4.250% due 12/15/2036 ~		3,700	376
MSDB Trust 3.316% due 07/11/2039 ~(m)		21,938	20,637
Natixis Commercial Mortgage Securities Trust 4.058% due 04/10/2037 ~(m)		5,880	2,860
New Orleans Hotel Trust
5.956% due 04/15/2032 •(m)		1,200	1,158
6.406% due 04/15/2032 •(m)		13,642	13,128
New Residential Mortgage Loan Trust
0.250% due 09/25/2064 •(a)		601,626	3,392
2.343% due 09/25/2064 •(a)		601,626	20,608
3.851% due 11/25/2059 •		8,300	4,344
7.682% due 09/25/2064 •		16,143	14,236
New York Mortgage Trust
5.250% due 07/25/2062 þ(m)		12,333	12,278
6.558% due 08/25/2061 þ		1,039	1,018
Newgate Funding PLC
3.728% due 12/15/2050 •(m)	EUR	916	956
3.978% due 12/15/2050 •(m)		1,750	1,793
Nomura Asset Acceptance Corp. Alternative Loan Trust 4.755% due 10/25/2036 •(m)	$	864	726
Nomura Resecuritization Trust 4.473% due 09/26/2035 ~(m)		3,128	2,752
NovaStar Mortgage Funding Trust 0.490% due 09/25/2046 •		107	96
NYO Commercial Mortgage Trust
5.529% due 11/15/2038 •(m)		2,000	1,987
5.979% due 12/15/2038 •(m)		2,200	2,186
Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates 5.485% due 04/25/2035 •(m)		580	582
Prime Mortgage Trust
4.785% due 06/25/2036 •(m)		1,158	830
7.000% due 07/25/2034		34	31
RBSSP Resecuritization Trust
5.332% due 05/26/2037 ~(m)		2,747	1,468
5.556% due 09/26/2035 ~(m)		2,944	1,585
6.000% due 03/26/2036 •(m)		3,341	1,708
6.000% due 06/26/2037 •		277	242
6.339% due 07/26/2045 ~(m)		8,379	8,337
Regal Trust 1.723% due 09/29/2031 •		1	1
Residential Accredit Loans, Inc. Trust
4.735% due 02/25/2037 •		270	238
4.795% due 07/25/2036 ~(m)		7,647	2,546
4.815% due 05/25/2037 •(m)		6,102	5,668
4.855% due 06/25/2037 •(m)		604	533
5.500% due 04/25/2037		38	31
5.635% due 01/25/2046 •(m)		2,619	2,081
6.000% due 08/25/2035 (m)		494	435
6.000% due 12/25/2035 (m)		982	843
6.000% due 06/25/2036		126	102
6.000% due 09/25/2036 (m)		2,803	1,112
6.000% due 11/25/2036 (m)		1,275	1,008


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


6.000% due 01/25/2037		184	146
6.250% due 02/25/2037 (m)		1,842	1,512
6.500% due 09/25/2037 (m)		654	540
7.000% due 10/25/2037 (m)		4,043	3,210
Residential Asset Mortgage Products Trust 8.000% due 05/25/2032		223	148
Residential Asset Securitization Trust
5.500% due 07/25/2035		550	321
6.000% due 08/25/2036		6,234	1,669
6.000% due 02/25/2037		167	66
6.000% due 03/25/2037		2,803	864
6.000% due 07/25/2037 (m)		6,206	2,313
6.250% due 08/25/2037		4,048	952
6.500% due 08/25/2036		10,240	2,967
6.750% due 08/25/2036		10,310	3,101
Residential Funding Mortgage Securities, Inc. Trust
5.850% due 11/25/2035		45	32
5.982% due 07/27/2037 ~		97	80
6.000% due 04/25/2037		325	248
6.000% due 06/25/2037		144	114
RiverView HECM Trust 4.540% due 05/25/2047 ~		2,444	2,143
Sequoia Mortgage Trust
4.174% due 01/20/2038 •		70	56
5.174% due 07/20/2036 •		85	17
5.290% due 02/20/2034 •		103	93
5.634% due 10/20/2027 •		60	50
6.362% due 09/20/2032 •		163	158
SFO Commercial Mortgage Trust
5.583% due 05/15/2038 ~(m)		18,150	17,903
5.933% due 05/15/2038 •(m)		2,120	2,056
6.233% due 05/15/2038 ~(m)		1,760	1,685
SG Commercial Mortgage Securities Trust 4.509% due 02/15/2041 •(m)		9,000	7,274
SMRT Commercial Mortgage Trust 7.020% due 01/15/2039 •(m)		30,200	29,161
Soho Trust
2.697% due 08/10/2038 ~		5,990	4,263
2.697% due 08/10/2038 ~(m)		5,670	4,453
Starwood Commercial Mortgage Trust
7.484% due 04/15/2034 ~(m)		13,424	13,105
8.484% due 04/15/2034 •		6,612	6,508
Starwood Mortgage Residential Trust 3.935% due 11/25/2066 ~		500	359
Stratton Hawksmoor PLC
6.464% due 02/25/2053 •(m)	GBP	1,967	2,512
7.214% due 02/25/2053 •(m)		4,300	5,472
Stratton Mortgage Funding PLC
0.000% due 06/28/2050 (b)(h)		3,433	3,276
0.000% due 06/20/2060 (b)(h)		3,784	3,603
0.000% due 06/28/2050 (h)		0	320
0.000% due 06/20/2060 (h)		0	1,805
8.458% due 06/28/2050 •		39	50
8.458% due 06/20/2060 •		378	455
9.458% due 06/28/2050 •		291	365
9.458% due 06/20/2060 •		378	462
Structured Adjustable Rate Mortgage Loan Trust
4.165% due 02/25/2037 ~(m)	$	4,581	3,015
4.515% due 01/25/2036 ~		529	293
4.682% due 08/25/2036 •		2,255	388
4.807% due 04/25/2047 •		990	376
Structured Asset Mortgage Investments Trust
4.775% due 03/25/2037 •		801	154
4.815% due 07/25/2046 •(m)		7,837	5,608
4.855% due 05/25/2036 •(m)		1,330	950
4.855% due 08/25/2036 •(m)		660	540
4.895% due 05/25/2045 ~		45	43
5.008% due 02/25/2036 •		2,636	1,174
Structured Asset Securities Corp. Mortgage Pass-Through Certificates 5.329% due 01/25/2034 •		60	58
SunTrust Adjustable Rate Mortgage Loan Trust 6.641% due 02/25/2037 ~(m)		730	666
SunTrust Alternative Loan Trust 2.715% due 04/25/2036 •(a)		3,891	580
TBW Mortgage-Backed Trust
6.000% due 07/25/2036		204	71
6.500% due 07/25/2036 (m)		18,349	4,084
TDA Mixto Fondo de Titulizacion de Activos
2.559% due 12/28/2050 •(m)	EUR	4,877	4,734
2.841% due 10/28/2050 •(m)		7,474	4,223
TTAN 6.834% due 03/15/2038 •(m)	$	8,503	8,487
VASA Trust
5.334% due 07/15/2039 ~(m)		1,000	972
8.334% due 07/15/2039 •		4,435	3,289


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Verus Securitization Trust 7.803% due 06/25/2069 ~		1,000	987
VNDO Mortgage Trust 3.903% due 01/10/2035 •		4,814	4,529
Waikiki Beach Hotel Trust
6.647% due 12/15/2033 •(m)		19,750	19,535
7.297% due 12/15/2033 ~(m)		20,500	20,121
WaMu Mortgage Pass-Through Certificates Trust
3.884% due 03/25/2037 •		208	172
4.091% due 02/25/2037 •(m)		1,337	1,140
4.099% due 03/25/2037 ~(m)		1,337	1,182
4.196% due 06/25/2037 ~(m)		551	482
4.307% due 11/25/2036 •		85	74
4.434% due 07/25/2037 •(m)		817	654
4.485% due 07/25/2037 •		438	401
4.975% due 07/25/2045 •		81	79
5.081% due 08/25/2036 •(m)		822	763
5.275% due 06/25/2044 •		67	66
5.385% due 06/25/2047 ~		1,111	911
5.433% due 07/25/2047 •		344	292
5.445% due 07/25/2047 •(m)		9,650	8,064
5.515% due 10/25/2046 •		192	164
5.683% due 07/25/2046 •(m)		2,011	1,806
5.760% due 03/25/2033 •		19	19
Warwick Finance Residential Mortgages PLC
0.000% due 12/21/2049 (h)	GBP	0	1,850
7.108% due 12/21/2049 •		646	828
7.608% due 12/21/2049 •		646	820
Washington Mutual Mortgage Pass-Through Certificates Trust
3.214% due 06/25/2046 •(m)	$	4,859	2,730
3.725% due 06/25/2033 ~		60	56
4.915% due 01/25/2047 •(m)		6,480	5,822
5.035% due 07/25/2036 •(m)		2,763	2,005
5.485% due 10/25/2046 •		229	197
5.750% due 11/25/2035 (m)		682	647
6.000% due 04/25/2037 (m)		1,106	984
6.467% due 05/25/2036 þ(m)		3,025	2,639
Wells Fargo Alternative Loan Trust
5.750% due 07/25/2037		155	137
6.500% due 07/25/2037		2,611	2,275
7.125% due 07/25/2037 ~(m)		1,090	1,009
Wells Fargo Commercial Mortgage Trust 4.557% due 09/15/2031 •(m)		27,000	26,339
Wells Fargo Mortgage Loan Trust
4.517% due 03/27/2037 •(m)		3,086	1,778
6.154% due 04/27/2036 •(m)		2,660	2,489
Wells Fargo Mortgage-Backed Securities Trust
6.000% due 06/25/2037		44	39
7.387% due 10/25/2036 ~		3	3
7.470% due 09/25/2036 ~		3	3
Worldwide Plaza Trust 3.596% due 11/10/2036 •		8,000	873
WSTN Trust
0.341% due 07/05/2037 •(a)		515,000	2,715
7.690% due 07/05/2037 ~(m)		11,200	11,416
8.455% due 07/05/2037 ~(m)		11,200	11,451
9.835% due 07/05/2037 ~		14,010	14,539

Total Non-Agency Mortgage-Backed Securities (Cost $2,127,824)			1,987,724

ASSET-BACKED SECURITIES 21.2%
AUTOMOBILE ABS OTHER 0.5%
Ally Bank Auto Credit-Linked Notes Trust
6.315% due 05/17/2032		349	355
6.678% due 09/15/2032		502	505
11.395% due 09/15/2032		753	752
Exeter Automobile Receivables Trust
0.000% due 07/15/2033 «(h)(m)		27	13,388
0.000% due 12/15/2033 «(h)		25	1,807
Flagship Credit Auto Trust
0.000% due 12/15/2027 «(h)		9	384
0.000% due 06/15/2029 (h)		3	0
GLS Auto Select Receivables Trust
5.640% due 08/15/2030 (m)		800	822
5.920% due 08/15/2030 (m)		1,000	1,028
Huntington Bank Auto Credit-Linked Notes Trust
6.153% due 05/20/2032		1,013	1,026
6.944% due 10/20/2032 ~		988	991
8.344% due 10/20/2032 •		576	579
11.844% due 10/20/2032 •		626	630
Santander Bank Auto Credit-Linked Notes
6.110% due 06/15/2032		1,735	1,754
7.762% due 06/15/2032		1,349	1,357
10.171% due 06/15/2032		2,886	2,956


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


13.030% due 06/15/2032	2,506	2,517

		30,851

AUTOMOBILE SEQUENTIAL 0.3%
CPS Auto Securitization Trust 11.000% due 06/16/2032 «	17,100	17,139

HOME EQUITY OTHER 10.2%
Aames Mortgage Investment Trust 5.350% due 10/25/2035 •(m)	2,200	2,083
ABFC Trust
4.735% due 10/25/2036 •(m)	16	21
4.995% due 10/25/2033 •	136	133
5.380% due 07/25/2034 •(m)	264	265
5.410% due 06/25/2035 •(m)	3,542	3,280
5.485% due 03/25/2034 ~	414	402
5.485% due 03/25/2035 •(m)	246	215
5.605% due 03/25/2035 •	405	289
ACE Securities Corp. Home Equity Loan Trust
4.655% due 12/25/2036 •(m)	20,800	5,299
5.140% due 05/25/2035 •(m)	413	408
5.395% due 08/25/2035 •(m)	5,096	4,216
5.425% due 05/25/2035 •(m)	879	678
5.530% due 07/25/2035 •(m)	17,938	16,770
Aegis Asset-Backed Securities Trust
5.155% due 08/25/2035 •	239	234
5.395% due 08/25/2035 •	2,225	346
5.410% due 06/25/2035 •	3,000	874
Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates 6.535% due 09/25/2034 •(m)	740	694
AmeriCredit Automobile Receivables Trust 7.285% due 08/25/2032 •	163	168
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates
3.664% due 09/25/2032 •(m)	1,148	1,026
5.305% due 11/25/2035 •(m)	4,300	4,027
5.350% due 09/25/2035 •(m)	1,600	1,548
5.380% due 07/25/2035 ~	264	263
5.380% due 11/25/2035 •(m)	1,200	1,044
5.380% due 01/25/2036 •(m)	3,996	3,685
5.410% due 05/25/2035 •(m)	900	870
5.455% due 01/25/2036 •(m)	3,900	3,441
6.160% due 05/25/2034 •	140	138
6.160% due 08/25/2035 •(m)	6,354	6,117
Argent Securities Trust
4.585% due 09/25/2036 •(m)	7,354	2,369
4.635% due 06/25/2036 •(m)	6,372	1,734
4.675% due 04/25/2036 •	996	314
4.735% due 06/25/2036 •	3,587	976
4.815% due 03/25/2036 •(m)	9,746	5,382
Argent Securities, Inc. Asset-Backed Pass-Through Certificates
5.125% due 11/25/2035 •(m)	29,851	26,247
5.125% due 01/25/2036 •(m)	1,089	1,111
5.195% due 02/25/2036 ~(m)	19,698	15,781
Asset-Backed Securities Corp. Home Equity Loan Trust
5.335% due 11/25/2035 •(m)	2,439	2,346
5.440% due 04/25/2035 •	131	136
5.455% due 05/25/2035 •(m)	997	982
5.515% due 04/25/2035 •(m)	900	816
Bear Stearns Asset-Backed Securities Trust
2.802% due 09/25/2034 •	87	86
4.715% due 12/25/2036 •(m)	7,816	7,778
5.337% due 04/25/2035 •(m)	1,404	1,397
5.455% due 10/25/2035 •(m)	542	541
5.515% due 12/25/2035 •(m)	2,869	2,745
5.935% due 10/27/2032 •	1	4
Carrington Mortgage Loan Trust
4.515% due 03/25/2035 •	543	418
4.855% due 12/26/2036 •(m)	13,201	11,247
Citigroup Mortgage Loan Trust
4.635% due 05/25/2037 •	397	259
4.735% due 12/25/2036 ~(m)	16,378	5,951
4.755% due 09/25/2036 •(m)	9,976	7,585
4.755% due 12/25/2036 •(m)	10,605	5,809
4.875% due 12/25/2036 •(m)	11,999	4,361
5.410% due 10/25/2035 •(m)	2,263	1,511
Countrywide Asset-Backed Certificates Trust
4.128% due 02/25/2036 ~	1	1
4.400% due 10/25/2032 ~(m)	656	712
4.715% due 03/25/2037 •(m)	10,163	9,317
4.825% due 01/25/2046 •(m)	36,209	28,407
4.835% due 06/25/2037 •(m)	16,357	16,347
4.915% due 03/25/2036 ~(m)	13,113	11,855
4.915% due 05/25/2036 •(m)	3,567	3,036
4.935% due 11/25/2047 •(m)	3,497	3,180


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


5.020% due 04/25/2036 •(m)	8,762	8,225
5.025% due 05/25/2036 •	810	589
5.115% due 12/25/2036 •	258	209
5.335% due 02/25/2036 •	3,850	3,688
5.335% due 03/25/2047 •(m)	891	688
5.425% due 05/25/2035 •	138	137
5.530% due 05/25/2035 •	430	420
5.535% due 05/25/2047 •(m)	4,445	3,626
5.545% due 08/25/2035 •	1,206	1,191
5.605% due 04/25/2036 •(m)	3,862	3,417
6.460% due 11/25/2035 •(m)	6,270	4,444
6.867% due 09/25/2046 þ(m)	6,151	4,366
Credit Suisse First Boston Mortgage Securities Corp. 5.485% due 02/25/2031 •(m)	610	594
EMC Mortgage Loan Trust 7.810% due 04/25/2042 •(m)	1,194	1,171
Encore Credit Receivables Trust
5.125% due 07/25/2035 ~	273	266
5.170% due 07/25/2035 •	270	252
5.485% due 07/25/2035 •	687	580
FBR Securitization Trust
5.365% due 09/25/2035 •	6,500	5,765
5.410% due 11/25/2035 •	3,644	2,001
Fieldstone Mortgage Investment Trust 4.775% due 07/25/2036 •(m)	3,955	1,984
Fremont Home Loan Trust
4.585% due 01/25/2037 ~	2,715	1,232
4.915% due 02/25/2037 ~	1,086	346
5.110% due 01/25/2036 •	4,700	3,861
5.395% due 04/25/2035 •	4,300	3,699
5.500% due 06/25/2035 ~	523	508
GMAC Mortgage Corp. Loan Trust 6.749% due 12/25/2037 þ(m)	521	512
GSAMP Trust
4.495% due 01/25/2037 •(m)	2,410	1,444
4.525% due 01/25/2037 ~	719	431
4.575% due 12/25/2036 ~	758	403
4.685% due 12/25/2036 •(m)	3,538	1,748
4.755% due 04/25/2036 ~	396	260
4.835% due 11/25/2036 ~	3,167	1,484
4.975% due 04/25/2036 ~(m)	14,105	9,425
5.380% due 11/25/2035 •	2,600	2,429
6.085% due 10/25/2034 •	97	100
HSI Asset Securitization Corp. Trust
4.625% due 01/25/2037 •(m)	26,642	19,007
4.655% due 12/25/2036 •	19,242	4,877
4.755% due 10/25/2036 •(m)	6,312	2,160
4.775% due 12/25/2036 •(m)	11,786	2,866
Indymac Home Equity Loan Asset-Backed Trust 4.813% due 12/25/2031 þ	467	299
IndyMac Residential Asset Backed Trust
4.595% due 11/25/2036 •(m)	2,622	2,361
4.675% due 04/25/2037 •(m)	15,651	10,575
4.755% due 04/25/2037 ~(m)	2,246	1,971
5.140% due 03/25/2036 •	1,026	780
IXIS Real Estate Capital Trust 5.410% due 09/25/2035 •(m)	1,662	1,732
JP Morgan Mortgage Acquisition Corp.
4.595% due 08/25/2036 ~	5	2
4.735% due 07/25/2036 ~	2,542	1,089
4.755% due 07/25/2036 •	931	255
5.335% due 09/25/2035 •	2,300	2,057
5.462% due 09/25/2029 þ(m)	2,331	1,407
5.888% due 10/25/2036 þ(m)	6,386	3,853
Lehman ABS Mortgage Loan Trust 4.525% due 06/25/2037 ~(m)	3,210	2,128
Long Beach Mortgage Loan Trust
4.815% due 02/25/2036 •(m)	16,461	14,100
4.975% due 05/25/2046 •(m)	7,845	2,372
5.140% due 11/25/2035 •(m)	51,576	48,351
5.350% due 08/25/2035 •	3,400	3,125
5.560% due 04/25/2035 •(m)	6,500	6,294
MASTR Asset-Backed Securities Trust
4.655% due 08/25/2036 •	2,567	944
4.735% due 03/25/2036 ~(m)	4,675	2,781
4.775% due 06/25/2036 •(m)	3,400	3,127
4.795% due 02/25/2036 ~(m)	5,802	2,113
4.915% due 06/25/2036 ~	2,501	880
4.975% due 12/25/2035 •(m)	14,497	12,213
5.005% due 01/25/2036 ~	120	120
5.335% due 10/25/2035 ~	1,553	1,420
5.410% due 05/25/2035 •	247	257
5.440% due 03/25/2035 •	1,506	1,494
5.455% due 03/25/2035 •	763	590
5.485% due 05/25/2035 •	1,200	1,183
5.515% due 03/25/2035 •	1,706	1,544


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Merrill Lynch Mortgage Investors Trust
5.380% due 02/25/2036 •	552	551
5.470% due 02/25/2036 •	180	170
Morgan Stanley ABS Capital, Inc. Trust
4.505% due 10/25/2036 •	1,332	583
4.535% due 11/25/2036 •	1,113	628
4.555% due 09/25/2036 ~	3,122	1,082
4.575% due 10/25/2036 ~(m)	6,929	3,033
4.585% due 11/25/2036 •(m)	12,130	6,846
4.655% due 10/25/2036 •(m)	3,339	1,462
4.735% due 06/25/2036 •(m)	4,267	2,151
4.735% due 06/25/2036 •	437	376
4.735% due 09/25/2036 •(m)	6,271	2,174
4.765% due 02/25/2037 ~(m)	4,196	1,826
4.795% due 03/25/2036 •	10	8
5.470% due 01/25/2035 •(m)	6,379	5,669
5.470% due 03/25/2035 ~(m)	859	765
5.530% due 01/25/2035 •(m)	927	808
Morgan Stanley Home Equity Loan Trust 4.665% due 04/25/2037 •(m)	20,005	10,359
New Century Home Equity Loan Trust
5.080% due 12/25/2035 •(m)	1,030	986
5.110% due 12/25/2035 •(m)	2,195	1,867
5.215% due 03/25/2035 •(m)	525	521
5.380% due 06/25/2035 •(m)	501	521
5.380% due 09/25/2035 •(m)	3,082	3,058
5.410% due 06/25/2035 •(m)	1,067	1,034
5.455% due 06/25/2035 •(m)	1,338	1,289
5.560% due 03/25/2035 •(m)	813	790
7.435% due 01/25/2033 ~	171	145
Nomura Home Equity Loan, Inc. Home Equity Loan Trust
4.995% due 07/25/2036 •(m)	3,500	2,937
5.095% due 10/25/2036 ~	4,073	902
5.350% due 05/25/2035 •(m)	1,982	1,511
NovaStar Mortgage Funding Trust
4.775% due 11/25/2036 •	1,016	309
5.095% due 01/25/2036 •(m)	247	246
Option One Mortgage Loan Trust
4.565% due 07/25/2037 •(m)	18,455	11,783
4.575% due 01/25/2037 ~	241	154
4.575% due 01/25/2037 ~(m)	7,187	4,208
4.655% due 01/25/2037 ~	1,466	858
4.685% due 03/25/2037 ~	461	230
4.765% due 04/25/2037 •(m)	1,887	916
5.662% due 01/25/2037 þ	1	1
Ownit Mortgage Loan Trust 3.119% due 10/25/2035 þ(m)	3,287	1,835
Park Place Securities, Inc.
5.170% due 09/25/2035 ~(m)	2,103	2,055
5.380% due 09/25/2035 •(m)	2,200	1,977
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates
5.155% due 05/25/2035 •(m)	401	397
5.230% due 07/25/2035 ~	47	47
5.260% due 07/25/2035 ~(m)	2,400	2,283
5.410% due 07/25/2035 •(m)	1,600	1,299
6.310% due 10/25/2034 •(m)	1,195	1,060
People's Choice Home Loan Securities Trust 5.410% due 05/25/2035 •(m)	900	590
RAAC Trust 7.060% due 05/25/2046 •(m)	17,151	16,810
Renaissance Home Equity Loan Trust 5.612% due 04/25/2037 þ	3,152	822
Residential Asset Mortgage Products Trust
5.185% due 04/25/2034 •(m)	916	916
5.305% due 04/25/2034 •(m)	314	316
6.010% due 04/25/2034 •(m)	1,024	1,014
6.415% due 04/25/2034 •(m)	1,738	1,785
Residential Asset Securities Corp. Trust
4.695% due 11/25/2036 •(m)	3,641	3,369
4.775% due 10/25/2036 •(m)	2,343	2,161
4.915% due 08/25/2036 •(m)	7,899	6,988
4.930% due 04/25/2036 •(m)	6,175	5,143
5.095% due 12/25/2035 ~(m)	5,873	5,099
5.380% due 12/25/2035 •(m)	1,771	1,298
Saxon Asset Securities Trust
2.101% due 03/25/2035 •(m)	5,096	2,811
2.133% due 11/25/2035 ~(m)	5,547	3,842
2.133% due 11/25/2035 •(m)	2,200	1,961
Securitized Asset-Backed Receivables LLC Trust
4.715% due 07/25/2036 •(m)	10,778	9,072
4.755% due 07/25/2036 ~	2,562	839
4.895% due 02/25/2037 •	211	90
5.110% due 01/25/2035 •	5	5
Soundview Home Loan Trust
4.585% due 06/25/2037 ~(m)	2,036	1,333
4.715% due 06/25/2037 •(m)	5,032	3,295


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


4.795% due 02/25/2037 ~(m)	6,748	1,811
4.955% due 02/25/2037 •(m)	7,831	2,108
5.365% due 11/25/2035 •(m)	181	181
5.385% due 10/25/2037 ~(m)	3,740	2,858
5.410% due 11/25/2035 •(m)	1,134	1,117
5.535% due 09/25/2037 •(m)	1,420	1,175
Structured Asset Securities Corp. Trust 10.435% due 05/25/2032 •(m)	4,126	3,734
UCFC Home Equity Loan Trust 7.750% due 04/15/2030 •	282	281
Wells Fargo Home Equity Asset-Backed Securities Trust 4.840% due 01/25/2037 •	9,537	9,419

		647,050

HOME EQUITY SEQUENTIAL 0.0%
Structured Asset Securities Corp. Mortgage Loan Trust 6.235% due 08/25/2037 •	13	13

MANUFACTURING HOUSE ABS OTHER 0.3%
Access Financial Manufactured Housing Contract Trust 7.650% due 05/15/2049	200	0
Conseco Finance Securitizations Corp.
8.060% due 09/01/2029 ~	2,914	431
9.163% due 03/01/2033 •(m)	8,494	8,570
9.546% due 12/01/2033 ~(m)	4,957	4,840
Greenpoint Manufactured Housing 9.230% due 12/15/2029 ~(m)	4,580	4,602
Mid-State Capital Corp. Trust 6.742% due 10/15/2040 (m)	1,946	1,972
Oakwood Mortgage Investors, Inc. 8.490% due 10/15/2030	1,147	1,105

		21,520

MANUFACTURING HOUSE SEQUENTIAL 0.1%
Bombardier Capital Mortgage Securitization Corp. 7.830% due 06/15/2030 ~	3,549	279
Conseco Finance Corp.
6.530% due 02/01/2031 ~	307	277
7.060% due 02/01/2031 •	1,334	1,224
7.500% due 03/01/2030 ~	5,946	1,732
Conseco Finance Securitizations Corp.
7.770% due 09/01/2031 þ	202	206
7.960% due 05/01/2031	1,457	307
8.260% due 12/01/2030 •(m)	4,584	857
8.850% due 12/01/2030 •(m)	5,630	761
Oakwood Mortgage Investors, Inc. 7.840% due 11/15/2029 •	608	616

		6,259

WHOLE LOAN COLLATERAL 1.1%
Bear Stearns Asset-Backed Securities Trust
4.897% due 10/25/2036 ~	113	87
5.279% due 07/25/2036 •	13	13
5.358% due 10/25/2036 ~	2,323	1,037
Citigroup Mortgage Loan Trust
4.507% due 03/25/2036 þ	1,328	622
5.135% due 11/25/2046 •(m)	4,267	3,634
6.352% due 05/25/2036 þ	348	127
6.851% due 05/25/2036 þ	2,024	736
Countrywide Asset-Backed Certificates Trust 4.915% due 04/25/2036 •	302	268
First Franklin Mortgage Loan Trust
5.005% due 02/25/2036 •(m)	5,500	5,191
5.380% due 09/25/2035 •(m)	5,832	5,348
5.410% due 05/25/2036 •(m)	14,212	12,755
5.485% due 03/25/2035 •	2,101	1,944
GSAMP Trust 6.310% due 06/25/2034 •(m)	1,253	1,166
Lehman XS Trust
4.276% due 05/25/2037 ~(m)	5,723	4,833
6.670% due 06/24/2046 þ	158	168
PRET LLC
3.721% due 07/25/2051 þ	1,234	1,222
3.844% due 07/25/2051 þ	2,966	2,884
6.170% due 07/25/2051 þ(m)	2,100	2,099
7.967% due 09/25/2051 þ(m)	4,071	4,024
PRPM LLC 9.291% due 02/25/2027 þ	1,013	1,014
Residential Asset Mortgage Products Trust 5.316% due 08/25/2033 •	303	301
Securitized Asset-Backed Receivables LLC Trust
4.935% due 05/25/2036 •(m)	14,269	7,357


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


5.035% due 11/25/2035 ~(m)		9,070	7,612
5.095% due 08/25/2035 ~(m)		1,365	1,044
5.410% due 12/25/2034 •(m)		495	420
Specialty Underwriting & Residential Finance Trust
4.202% due 02/25/2037 þ		2,364	780
4.485% due 06/25/2037 •		2,850	1,420
5.135% due 03/25/2037 ~		260	132

			68,238

OTHER ABS 8.7%
510 Loan Acquisition Trust 8.107% due 09/25/2060 þ(m)		12,572	12,609
ABSLT DE LLC 12.819% due 05/20/2033 «		57,200	57,098
Acacia CDO Ltd. 8.350% due 11/08/2039 •(m)		8,674	1,930
ACHV ABS Trust 5.010% due 12/26/2031		63	63
Adagio CLO DAC 0.000% due 04/30/2031 ~	EUR	1,800	563
AIM Aviation Finance Ltd. 6.213% due 02/15/2040 þ(m)	$	1,019	973
Apex Credit CLO Ltd. 0.000% due 10/20/2034 ~		20,050	10,818
Banco Bilbao Vizcaya Argentaria 3.037% due 03/22/2046 •	EUR	455	148
Carlyle Global Market Strategies CLO Ltd. 0.000% due 04/17/2031 ~	$	2,900	365
CIFC Funding Ltd. 0.000% due 04/24/2030 ~		3,390	759
College Avenue Student Loans LLC
0.000% due 06/25/2054 «(h)		21	11,220
6.610% due 06/25/2054 «		2,647	2,677
8.660% due 06/25/2054 «		3,811	3,958
Cologix Canadian Issuer LP 7.740% due 01/25/2052	CAD	2,000	1,346
Cork Street CLO DAC 0.000% due 11/27/2028 ~	EUR	1,401	267
Coronado CDO Ltd.
6.000% due 09/04/2038 (m)	$	3,644	1,175
6.078% due 09/04/2038 •(m)		22,996	6,877
Credit-Based Asset Servicing & Securitization CBO Ltd. 0.430% due 09/06/2041 •		98,373	518
Dryden Senior Loan Fund 1.000% due 04/15/2038 «~(c)		8,400	7,518
Duke Funding Ltd. 0.697% due 04/08/2039 ~(m)		7,546	583
ECAF Ltd.
3.473% due 06/15/2040 (m)		712	584
4.947% due 06/15/2040 (m)		4,713	3,959
Euromax ABS PLC 2.875% due 11/10/2095 •	EUR	2,666	2,802
FAB U.K. Ltd. 0.000% due 12/06/2045 •	GBP	15,488	4,146
FREED ABS Trust 0.000% due 09/20/2027 «(h)	$	10	75
Glacier Funding CDO Ltd. 7.770% due 08/04/2035 •(m)		31,282	2,776
GreenSky Home Improvement Trust
5.870% due 06/25/2059		500	507
6.360% due 06/25/2059		500	510
7.330% due 06/25/2059		900	926
8.750% due 10/27/2059		500	505
Hillcrest CDO Ltd. 5.540% due 12/10/2039 •(m)		33,153	5,927
Hout Bay Corp.
2.184% due 07/05/2041 •		4,871	5
2.314% due 07/05/2041 ^•(e)		1,690	0
4.422% due 07/05/2041 •		109,166	18,335
KGS-Alpha SBA COOF Trust 1.269% due 04/25/2038 «~(a)		547	11
Labrador Aviation Finance Ltd. 4.300% due 01/15/2042 (m)		2,525	2,455
Lendingpoint Asset Securitization Trust 5.990% due 10/15/2029		975	936
LendingPoint Pass-Through Trust
0.000% due 03/15/2028 «(h)		1,400	133
0.000% due 04/15/2028 «(h)		1,700	210
Madison Park Funding Ltd. 0.000% due 07/27/2047 ~(m)		5,600	2,139
MAN GLG U.S. CLO Ltd. 0.000% due 07/15/2034 •		6,450	3,726
Marble Point CLO Ltd. 0.000% due 01/22/2052 ~		17,150	9,705


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Margate Funding Ltd.
5.586% due 12/04/2044 ^•(e)		4,126	70
7.830% due 12/04/2044 •(m)		17,556	4,428
Marlette Funding Trust
0.000% due 07/16/2029 «(h)		16	13
0.000% due 09/17/2029 «(h)		35	33
0.000% due 03/15/2030 «(h)		33	186
0.000% due 09/16/2030 «(h)		9	213
National Collegiate Commutation Trust 0.000% due 03/25/2038 •(m)		135,030	22,080
OCP CLO Ltd. 0.000% due 07/20/2037 ~		11	4,334
Orient Point CDO Ltd. 5.124% due 10/03/2045 •		391,989	114,737
Pagaya AI Debt Selection Trust
0.000% due 04/15/2032 «•		700	594
3.270% due 05/15/2029		495	477
5.162% due 04/15/2032 «		868	870
5.617% due 04/15/2032 «		779	784
5.823% due 04/15/2032 «		450	453
6.261% due 04/15/2032 «		470	475
8.491% due 06/16/2031		5,998	6,080
10.273% due 04/15/2032 «		580	601
Palisades CDO Ltd. 8.450% due 07/22/2039 •(m)		6,540	2,560
Putnam Structured Product Funding Ltd. 1.584% due 10/15/2038 •(m)		706	397
Reach ABS Trust
5.340% due 08/16/2032		500	504
7.750% due 08/16/2032		500	510
Rockford Tower CLO Ltd.
0.000% due 10/15/2029 ~(m)		11,667	3,149
0.000% due 10/20/2030 ~		4,967	1,312
0.000% due 10/20/2031 •		4,967	812
0.000% due 04/20/2034 ~(m)		22,000	9,781
Segovia European CLO DAC 0.000% due 04/15/2035 ~	EUR	1,400	592
SLM Student Loan EDC Repackaging Trust 0.000% due 10/28/2029 «(h)(m)	$	36	14,567
SLM Student Loan Trust 0.000% due 01/25/2042 «(h)		31	6,439
SMB Private Education Loan Trust
0.000% due 09/15/2054 «(h)(m)		9,177	10,727
0.000% due 10/15/2048 «(h)		8	2,080
0.000% due 09/15/2054 «(h)(m)		28,998	34,136
0.000% due 11/16/2054 «(h)		5	4,735
0.000% due 02/16/2055 «(h)		9	9,049
5.950% due 02/16/2055 (m)		7,097	7,025
SoFi Professional Loan Program LLC 0.000% due 09/25/2040 «(h)		14,219	1,183
Soloso CDO Ltd. 4.875% due 10/07/2037 •		17,418	13,412
South Coast Funding Ltd.
0.454% due 01/06/2041 •(m)		158,546	28,775
0.454% due 01/06/2041 •		48	9
0.660% due 01/06/2041 •		10,259	1
0.816% due 01/06/2041 •		2,565	0
0.916% due 01/06/2041 •(m)		9,983	1,812
5.613% due 08/06/2039 •		3,678	1,175
Start Ltd. 4.089% due 03/15/2044 (m)		532	527
Stream Innovations Trust 6.270% due 07/15/2044		377	394
Taberna Preferred Funding Ltd.
4.945% due 08/05/2036 •		2,481	2,245
4.945% due 08/05/2036 •(m)		9,980	9,032
Talon Funding Ltd. 0.670% due 06/05/2035 •		676	100
Tropic CDO Ltd. 4.884% due 07/15/2036 •		3,306	3,173
Verde CDO Ltd. 4.788% due 10/05/2045 •(m)		240,688	48,591

			557,069

Total Asset-Backed Securities (Cost $1,930,861)			1,348,139

SOVEREIGN ISSUES 6.7%
Argentina Government International Bond
0.750% due 07/09/2030 þ(m)		27,885	17,757
1.000% due 07/09/2029 (m)		4,771	3,708
3.500% due 07/09/2041 þ(m)		17,060	9,910
4.125% due 07/09/2035 þ(m)		13,800	8,646
4.125% due 07/09/2035 þ		21,344	13,077
4.125% due 07/09/2046 þ		225	138
5.000% due 01/09/2038 þ(m)		76,360	50,388


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Avenir Issuer Ireland DAC 6.000% due 10/25/2027		10,900	10,294
Dominican Republic International Bond
6.950% due 03/15/2037		5,000	5,055
7.150% due 02/24/2055		900	903
10.500% due 03/15/2037 (m)	DOP	3,862,000	62,636
10.750% due 06/01/2036		84,600	1,391
Ecuador Government International Bond 6.900% due 07/31/2030 þ	$	2,186	1,306
Egypt Government International Bond
6.375% due 04/11/2031 (m)	EUR	13,100	12,032
8.625% due 02/04/2030	$	2,000	1,938
9.450% due 02/04/2033		4,200	3,969
El Salvador Government International Bond
9.250% due 04/17/2030 (m)		20,000	20,880
9.650% due 11/21/2054 (m)		9,200	9,239
Ghana Government International Bond
0.000% due 07/03/2026 (h)(m)		273	257
0.000% due 01/03/2030 (h)(m)		609	470
5.000% due 07/03/2029 þ(m)		2,756	2,411
5.000% due 07/03/2035 þ(m)		3,963	2,826
Mexico Government International Bond 4.625% due 05/04/2033 (m)	EUR	2,100	2,221
Mongolia Government International Bond 6.625% due 02/25/2030	$	1,000	982
Paraguay Government International Bond 6.650% due 03/04/2055		600	603
Peru Government International Bond
5.350% due 08/12/2040	PEN	100	23
5.400% due 08/12/2034		1	0
6.150% due 08/12/2032		5	1
6.900% due 08/12/2037		15	4
6.950% due 08/12/2031		5	1
Republic of Kenya Government International Bond 9.500% due 03/05/2036	$	1,600	1,470
Republic of Uzbekistan International Bond 5.100% due 02/25/2029	EUR	5,000	5,393
Romania Government International Bond
5.125% due 09/24/2031		3,090	3,232
5.250% due 03/10/2030		18,300	19,947
5.250% due 05/30/2032		200	209
5.375% due 03/22/2031 (m)		2,620	2,809
5.625% due 02/22/2036 (m)		1,060	1,061
5.625% due 05/30/2037		3,200	3,161
5.875% due 07/11/2032 (c)		21,200	22,770
6.250% due 09/10/2034		58,600	62,905
6.375% due 09/18/2033 (m)		3,000	3,311
Russia Government International Bond
5.100% due 03/28/2035	$	600	0
5.625% due 04/04/2042		10,200	7,140
5.875% due 09/16/2043		200	137
Turkey Government International Bond
44.165% due 09/06/2028 ~	TRY	1,484,300	36,799
45.031% due 05/20/2026 ~		1,700	45
45.031% due 08/19/2026 ~		1,300	34
45.031% due 05/17/2028 ~		276,200	6,885
Ukraine Government International Bond
0.000% due 02/01/2030 þ(i)	$	605	312
0.000% due 02/01/2034 þ(i)		2,262	899
0.000% due 02/01/2035 þ(i)		1,912	1,061
0.000% due 02/01/2036 þ(i)		1,593	880
1.750% due 02/01/2034 þ		3,223	1,724
1.750% due 02/01/2035 þ		3,879	2,036
1.750% due 02/01/2036 þ		3,980	2,060
Venezuela Government International Bond 9.250% due 09/15/2027 ^(e)		734	154

Total Sovereign Issues (Cost $417,141)			429,500

		SHARES
COMMON STOCKS 3.4%
COMMUNICATION SERVICES 1.6%
Clear Channel Outdoor Holdings, Inc. (f)		4,853,248	5,387
iHeartMedia, Inc. 'A' (f)		2,021,190	3,335
Promotora de Informaciones SA 'A' (f)		4,079,279	1,637
Syniverse Holdings, Inc. «(k)		20,866,719	20,298
Windstream Services LLC «(f)		3,155,914	70,805

			101,462

CONSUMER DISCRETIONARY 0.0%
Caesars Entertainment, Inc. (f)		2	0


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Desarrolladora Homex SAB de CV (f)	719,113	0
West Marine «(f)(k)	43,000	272

		272

CONSUMER STAPLES 0.0%
Steinhoff International Holdings NV «(f)(k)	299,163,217	0

FINANCIALS 1.7%
Banca Monte dei Paschi di Siena SpA	6,139,000	48,471
Corestate Capital Holding SA «(f)(k)	843,935	0
Intelsat Emergence SA «(k)	1,755,353	59,128
MNEQ Holdings, Inc. «(f)(k)	25,645	116
UBS Group AG	12,342	375

		108,090

INDUSTRIALS 0.1%
Clover Holdings, Inc. «(f)(k)	157,800	2,687
Foresea Holdings SA «	263,557	6,639
Mcdermott International Ltd. (f)	4,683	77
Westmoreland Mining Holdings «(f)(k)	238,883	254
Westmoreland Mining LLC «(f)(k)	240,987	791

		10,448

Total Common Stocks (Cost $271,758)		220,271

WARRANTS 0.0%
CONSUMER DISCRETIONARY 0.0%
West Marine - Exp. 09/11/2028	5,580	0

FINANCIALS 0.0%
Intelsat Emergence SA - Exp. 02/17/2027 «	13,833	27

Total Warrants (Cost $43,499)		27

PREFERRED SECURITIES 1.8%
BANKING & FINANCE 0.8%
ADLER Group SA «	10,224,514	0
AGFC Capital Trust 6.314% due 01/15/2067 ~(m)	35,500,000	25,053
American AgCredit Corp. 5.250% due 06/15/2026 •(j)	10,000,000	9,637
Capital Farm Credit ACA 5.000% due 03/15/2026 •(j)(m)	4,300,000	4,319
Compeer Financial ACA 4.875% due 08/15/2026 •(j)(m)	1,900,000	1,848
OCP CLO Ltd. 0.000% due 04/26/2036 •	2,600	1,068
Stichting AK Rabobank Certificaten 6.500% due 12/29/2049 þ(j)(m)	5,253,700	6,394

		48,319

INDUSTRIALS 1.0%
Atlas Re Ltd. «	528	52,800
SVB Financial Trust
0.000% due 11/07/2032 (h)	167,720	4
11.000% due 11/07/2032	29,233	14,324

		67,128

Total Preferred Securities (Cost $118,560)		115,447

REAL ESTATE INVESTMENT TRUSTS 0.5%
REAL ESTATE 0.5%
Uniti Group, Inc.	1,591,211	8,020
VICI Properties, Inc.	711,293	23,202


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Total Real Estate Investment Trusts (Cost $18,729)			31,222

	PRINCIPAL AMOUNT (000s)
SHORT-TERM INSTRUMENTS 3.5%
REPURCHASE AGREEMENTS (l) 2.6%			166,689

U.S. TREASURY BILLS 0.9%
4.290% due 04/17/2025 - 06/26/2025 (g)(h)(p)	56,758		56,383

Total Short-Term Instruments (Cost $223,074)			223,072

Total Investments in Securities (Cost $9,996,087)			8,884,288

	SHARES
INVESTMENTS IN AFFILIATES 12.8%
COMMON STOCKS 6.4%
AFFILIATED INVESTMENTS 6.4%
Amsurg Equity «(k)	3,517,243		164,438
Incora New Equity «(k)	2,316,329		82,778
Market Garden Dogwood LLC †«‡(k)	147,000,000		154,492
Oi SA	24,221,572		4,244
Sierra Hamilton Holder LLC «(k)	30,337,712		3

			405,955

Total Common Stocks (Cost $414,174)			405,955

SHORT-TERM INSTRUMENTS 6.4%
CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 6.4%
PIMCO Short-Term Floating NAV Portfolio III	42,127,969		410,074

Total Short-Term Instruments (Cost $409,788)			410,074

Total Investments in Affiliates (Cost $823,962)			816,029

Total Investments 152.2% (Cost $10,820,049)		$	9,700,317
Financial Derivative Instruments (n)(o) (0.7)%(Cost or Premiums, net $33,189)			(42,663)
Other Assets and Liabilities, net (51.5)%			(3,284,163)

Net Assets 100.0%		$	6,373,491


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)



NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:

* A zero balance may reflect actual amounts rounding to less than one thousand.

¤	The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.
†	Represents co-investment made with Company’s affiliates in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission.
^	Security is in default.
«	Security valued using significant unobservable inputs (Level 3).
µ	All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.
~	Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.
•	Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.
þ	Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.
‡	Insurance-Linked Investments.
(a)	Security is an Interest Only ("IO") or IO Strip.
(b)	Principal only security.
(c)	When-issued security.
(d)	Payment in-kind security.
(e)	Security is not accruing income as of the date of this report.
(f)	Security did not produce income within the last twelve months.
(g)	Coupon represents a weighted average yield to maturity.
(h)	Zero coupon security.
(i)	Security becomes interest bearing at a future date.
(j)	Perpetual maturity; date shown, if applicable, represents next contractual call date.
(k)	RESTRICTED SECURITIES:
Issuer Description								Acquisition Date				Cost								Market Value					Market Value as Percentage of Net Assets

Amsurg Equity								11/02/2023 - 11/06/2023		$		146,968					$			164,438					2.58			%
Clover Holdings, Inc.								12/09/2024 - 03/10/2025				2,367								2,687					0.04
Corestate Capital Holding SA								08/22/2023				0								0					0.00
Incora New Equity								01/31/2025				112,516								82,778					1.30
Incora Top Holdco LLC 0.000% due 01/30/2033								01/31/2025				49,687								71,802					1.13
Intelsat Emergence SA								06/19/2017 - 02/23/2024				114,056								59,128					0.93
Market Garden Dogwood LLC								03/13/2024				147,000								154,492					2.42
MNEQ Holdings, Inc.								03/16/2023 - 03/29/2023				285								116					0.00
Sierra Hamilton Holder LLC								07/31/2017				7,690								3					0.00
Steinhoff International Holdings NV								06/30/2023 - 10/30/2023				0								0					0.00
Syniverse Holdings, Inc.								05/12/2022 - 11/30/2024				20,560								20,298					0.32
Ubisoft Entertainment SA 0.000% due 12/22/2025								03/11/2025				5,751								5,694					0.09
West Marine								09/12/2023				618								272					0.01
Westmoreland Mining Holdings								12/08/2014 - 03/26/2019				6,949								254					0.00
Westmoreland Mining LLC								06/30/2023				1,597								791					0.01

									$		616,044					$			562,753					8.83%

BORROWINGS AND OTHER FINANCING TRANSACTIONS
(l)	REPURCHASE AGREEMENTS:
Counterparty		Lending Rate	Settlement Date	Maturity Date		Principal Amount	Collateralized By							Collateral (Received)							Repurchase Agreements, at Value					Repurchase Agreement Proceeds to be Received(1)

JPS		4.390%	07/30/2024	TBD(2)	$	166,689	U.S. Treasury Bonds 1.375% - 3.875% due 08/15/2040 - 11/15/2040						$		(167,521)			$				166,689	$				172,075

Total Repurchase Agreements													$		(167,521)			$				166,689	$				172,075


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


REVERSE REPURCHASE AGREEMENTS:
Counterparty	Borrowing Rate(3)	Settlement Date	Maturity Date		Amount Borrowed(3)		Payable for Reverse Repurchase Agreements

BNY	5.460%	01/10/2025	07/10/2025	$	(81,687)	$	(82,686)
	5.460	02/12/2025	08/12/2025		(50,642)		(51,010)
	5.460	03/11/2025	09/11/2025		(3,700)		(3,712)
	5.460	03/17/2025	09/15/2025		(20,759)		(20,805)
BOM	4.770	03/10/2025	04/10/2025		(3,364)		(3,374)
BOS	5.060	03/03/2025	04/02/2025		(16,264)		(16,330)
	5.360	03/03/2025	04/02/2025		(11,098)		(11,146)
	5.460	03/03/2025	04/02/2025		(18,495)		(18,576)
	5.510	03/03/2025	04/02/2025		(4,108)		(4,126)
	5.560	03/03/2025	04/02/2025		(5,797)		(5,823)
BPS	0.900	03/18/2025	TBD(4)	EUR	(3,858)		(4,173)
	2.550	03/12/2025	TBD(4)		(4,720)		(5,111)
	2.600	03/05/2025	07/07/2025		(1,935)		(2,096)
	2.680	03/05/2025	07/07/2025		(13,734)		(14,880)
	2.900	03/14/2025	07/14/2025		(22,301)		(24,149)
	4.490	03/11/2025	TBD(4)	$	(4,075)		(4,085)
	4.840	03/10/2025	06/10/2025		(34,120)		(34,221)
	4.860	02/13/2025	04/14/2025		(29,183)		(29,368)
	4.870	01/29/2025	04/29/2025		(1,101)		(1,110)
	4.890	03/10/2025	06/10/2025		(948)		(950)
	4.900	01/24/2025	04/24/2025		(31,856)		(32,147)
	4.960	01/09/2025	05/09/2025		(23,326)		(23,585)
	5.040	03/10/2025	06/10/2025		(3,021)		(3,030)
	5.097	03/21/2025	07/21/2025	GBP	(7,592)		(9,823)
	5.110	02/14/2025	08/14/2025	$	(18,057)		(18,174)
	5.290	01/23/2025	07/22/2025		(4,905)		(4,958)
	5.440	01/23/2025	07/22/2025		(2,129)		(2,152)
	5.560	02/14/2025	08/14/2025		(1,348)		(1,358)
	5.570	01/23/2025	07/22/2025		(752)		(761)
	5.590	01/23/2025	07/22/2025		(140,716)		(142,226)
	5.590	02/14/2025	08/14/2025		(30,128)		(30,341)
	5.590	03/26/2025	08/14/2025		(2,679)		(2,681)
	5.690	01/23/2025	07/22/2025		(12,292)		(12,424)
	5.710	11/18/2024	05/16/2025		(2,134)		(2,179)
	5.910	10/24/2024	04/22/2025		(7,786)		(7,988)
	5.910	11/18/2024	05/16/2025		(1,684)		(1,719)
BRC	1.000	03/12/2025	TBD(4)	EUR	(5,278)		(5,711)
	1.500	03/12/2025	TBD(4)		(3,080)		(3,333)
	2.000	03/12/2025	TBD(4)		(1,426)		(1,544)
	2.580	03/12/2025	TBD(4)		(857)		(928)
	4.250	03/03/2025	TBD(4)	$	(9,814)		(9,847)
	4.300	02/19/2025	TBD(4)		(7,030)		(7,065)
	4.600	12/20/2024	TBD(4)		(1,137)		(1,152)
	4.650	03/10/2025	04/09/2025		(28,155)		(28,235)
	5.050	03/17/2025	06/17/2025		(19,333)		(19,373)
	5.300	01/03/2025	04/03/2025		(345)		(349)
	5.300	02/03/2025	05/05/2025		(1,400)		(1,412)
	5.390	01/10/2025	04/10/2025		(17,799)		(18,015)
	5.460	03/24/2025	07/22/2025		(527)		(528)
	5.510	02/26/2025	05/27/2025		(12,678)		(12,744)
	5.510	03/24/2025	07/22/2025		(14,975)		(14,993)
	5.543	03/19/2025	06/19/2025	GBP	(16,788)		(21,729)
	5.560	03/21/2025	07/18/2025	$	(9,470)		(9,486)
	5.560	03/24/2025	07/22/2025		(36,895)		(36,940)
	5.610	03/07/2025	07/07/2025		(2,416)		(2,425)
	5.660	03/24/2025	07/22/2025		(1,270)		(1,272)
BYR	4.840	01/21/2025	04/21/2025		(21,270)		(21,469)
	4.860	01/21/2025	04/21/2025		(11,605)		(11,713)
	4.860	02/18/2025	05/19/2025		(1,345)		(1,352)
	4.860	02/19/2025	05/20/2025		(11,238)		(11,300)
	4.860	02/20/2025	05/20/2025		(1,425)		(1,432)
	4.860	03/06/2025	09/05/2025		(87,960)		(88,267)
	4.860	03/11/2025	09/05/2025		(10,487)		(10,517)
	4.880	01/10/2025	04/10/2025		(4,307)		(4,354)
	4.890	03/28/2025	05/20/2025		(10,306)		(10,312)
CDC	4.700	02/19/2025	05/20/2025		(1,285)		(1,292)
	4.760	03/18/2025	07/16/2025		(2,081)		(2,085)
	4.800	02/19/2025	05/20/2025		(1,641)		(1,650)
	4.800	02/20/2025	05/20/2025		(1,302)		(1,309)
	4.810	01/27/2025	04/28/2025		(10,658)		(10,749)
	4.810	02/04/2025	04/28/2025		(255)		(257)
	4.810	02/28/2025	04/28/2025		(571)		(573)
	4.840	03/24/2025	04/02/2025		(428)		(428)
	4.850	01/03/2025	04/04/2025		(5,583)		(5,649)
	4.860	03/18/2025	07/16/2025		(18,583)		(18,618)
	4.860	03/24/2025	07/22/2025		(32,439)		(32,439)
	5.060	03/10/2025	07/08/2025		(330)		(331)
	5.110	02/20/2025	05/08/2025		(529)		(532)
	5.160	03/10/2025	07/08/2025		(8,570)		(8,597)


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


	5.210	02/07/2025	05/08/2025		(3,927)	(3,957)
	5.260	03/10/2025	07/08/2025		(12,677)	(12,717)
	5.310	03/10/2025	07/08/2025		(519)	(521)
	5.410	03/10/2025	07/08/2025		(1,565)	(1,570)
DBL	3.047	09/07/2023	TBD(4)	EUR	(12,578)	(14,500)
	4.650	03/11/2025	TBD(4)	$	(3,854)	(3,864)
	4.650	03/12/2025	TBD(4)		(13,965)	(14,001)
	4.650	03/24/2025	TBD(4)		(8,925)	(8,934)
	4.700	03/12/2025	TBD(4)		(48,829)	(48,956)
	4.860	03/24/2025	04/21/2025		(53,539)	(53,596)
	5.009	03/17/2025	05/16/2025		(10,938)	(10,961)
	5.013	03/12/2025	05/09/2025		(3,663)	(3,673)
	5.017	03/28/2025	05/23/2025		(2,635)	(2,636)
	5.059	03/17/2025	05/16/2025		(3,345)	(3,352)
	5.063	03/12/2025	05/09/2025		(424)	(426)
	5.071	03/04/2025	05/02/2025		(17,173)	(17,241)
	5.107	03/14/2025	05/09/2025		(5,138)	(5,151)
	5.109	03/17/2025	05/16/2025		(6,146)	(6,159)
	5.113	03/12/2025	05/09/2025		(3,045)	(3,054)
	5.121	03/04/2025	05/02/2025		(2,948)	(2,960)
	5.159	03/17/2025	05/16/2025		(1,691)	(1,694)
	5.163	03/12/2025	05/09/2025		(3,141)	(3,150)
	5.171	03/04/2025	05/02/2025		(12,804)	(12,855)
	5.259	03/17/2025	05/16/2025		(2,532)	(2,537)
	5.313	03/12/2025	05/09/2025		(1,578)	(1,583)
	5.409	03/17/2025	05/16/2025		(11,261)	(11,286)
	5.459	03/17/2025	05/16/2025		(22,850)	(22,902)
	5.509	03/17/2025	05/16/2025		(1,720)	(1,724)
	5.565	03/21/2025	05/16/2025		(4,120)	(4,127)
	5.609	03/17/2025	05/16/2025		(5,393)	(5,405)
	5.659	03/17/2025	05/16/2025		(16,882)	(16,921)
	5.784	03/17/2025	05/16/2025		(1,637)	(1,641)
	5.809	03/17/2025	05/16/2025		(11,908)	(11,937)
	5.834	03/17/2025	05/16/2025		(10,054)	(10,078)
	5.859	03/17/2025	05/16/2025		(86,540)	(86,751)
	5.909	03/17/2025	05/16/2025		(3,157)	(3,165)
	5.934	03/17/2025	05/16/2025		(11,028)	(11,055)
	5.939	03/17/2025	05/16/2025		(7,711)	(7,730)
	5.959	03/17/2025	05/16/2025		(13,458)	(13,492)
	6.009	03/17/2025	05/16/2025		(27,878)	(27,948)
	6.034	03/17/2025	05/16/2025		(2,893)	(2,900)
DEU	4.810	02/13/2025	04/14/2025		(10,671)	(10,738)
	4.820	12/20/2024	TBD(4)		(13,260)	(13,441)
	4.820	01/09/2025	TBD(4)		(3,276)	(3,311)
	4.870	03/31/2025	05/21/2025		(19,763)	(19,765)
GLM	5.220	09/27/2024	06/24/2025		(108,620)	(111,549)
	5.270	09/27/2024	06/24/2025		(7,158)	(7,353)
	5.320	09/27/2024	06/24/2025		(4,128)	(4,241)
	5.470	09/27/2024	06/24/2025		(2,677)	(2,753)
	5.563	10/29/2024	07/29/2025		(63,461)	(64,971)
	5.610	01/27/2025	07/29/2025		(1,657)	(1,673)
	5.613	10/29/2024	07/29/2025		(8,399)	(8,601)
	5.663	10/29/2024	07/29/2025		(2,902)	(2,972)
IND	4.700	03/06/2025	06/04/2025		(2,178)	(2,185)
	4.730	02/25/2025	04/28/2025		(156)	(157)
	4.770	03/06/2025	06/04/2025		(3,155)	(3,166)
	4.770	03/17/2025	06/17/2025		(79)	(79)
	4.870	03/26/2025	07/25/2025		(1,029)	(1,030)
	4.950	02/10/2025	04/11/2025		(1,780)	(1,792)
	4.970	03/14/2025	06/13/2025		(1,789)	(1,793)
	4.990	03/28/2025	08/25/2025		(682)	(682)
	5.000	02/10/2025	04/11/2025		(669)	(674)
	5.000	03/14/2025	06/13/2025		(2,580)	(2,587)
	5.010	02/25/2025	04/28/2025		(14,606)	(14,677)
	5.010	03/14/2025	06/13/2025		(1,778)	(1,782)
	5.020	03/14/2025	06/13/2025		(844)	(846)
JML	1.000	03/12/2025	TBD(4)	EUR	(3,878)	(4,196)
	4.750	03/21/2025	05/09/2025	$	(46,378)	(46,446)
	5.399	03/21/2025	06/23/2025	GBP	(11,398)	(14,747)
	5.500	03/21/2025	05/09/2025	$	(194)	(195)
JPS	5.050	02/07/2025	05/08/2025		(1,596)	(1,608)
	5.300	01/03/2025	04/03/2025		(5,616)	(5,688)
	5.300	02/07/2025	05/08/2025		(1,533)	(1,545)
	5.400	01/03/2025	04/03/2025		(5,365)	(5,436)
	5.400	02/07/2025	05/08/2025		(1,966)	(1,982)
	5.500	01/03/2025	04/03/2025		(1,878)	(1,904)
	5.500	02/07/2025	05/08/2025		(5,068)	(5,109)
	5.600	01/03/2025	04/03/2025		(3,584)	(3,634)
MBC	1.500	03/21/2025	TBD(4)	EUR	(1,991)	(2,154)
	5.156	03/13/2025	07/14/2025	GBP	(10,696)	(13,853)
	5.206	03/13/2025	07/14/2025		(6,921)	(8,965)
MEI	2.900	03/21/2025	06/23/2025	EUR	(2,061)	(2,231)
	2.940	03/13/2025	06/13/2025		(4,919)	(5,327)
	2.950	03/14/2025	07/14/2025		(16,161)	(17,501)
	4.000	03/21/2025	05/09/2025	$	(5,311)	(5,318)
	4.950	03/21/2025	06/23/2025	GBP	(1,554)	(2,010)


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


	4.990	03/19/2025	06/19/2025		(801)	(1,037)
	5.140	03/21/2025	05/21/2025		(3,152)	(4,079)
MSB	4.991	03/20/2025	07/21/2025		(4,787)	(6,194)
	5.021	03/20/2025	07/21/2025		(5,925)	(7,667)
	5.051	03/20/2025	07/21/2025		(6,468)	(8,369)
	5.159	03/20/2025	09/22/2025		(8,665)	(11,212)
	5.232	01/20/2025	07/21/2025		(17,776)	(23,191)
	5.260	03/21/2025	09/17/2025	$	(2,943)	(2,948)
	5.360	03/21/2025	09/17/2025		(9,143)	(9,158)
	5.460	02/03/2025	08/04/2025		(23,171)	(23,371)
	5.510	03/21/2025	09/17/2025		(47,820)	(47,900)
	5.560	02/03/2025	08/04/2025		(6,582)	(6,640)
	5.560	03/21/2025	09/17/2025		(18,781)	(18,812)
MYI	1.900	03/12/2025	TBD(4)	EUR	(7,538)	(8,160)
	2.000	12/20/2024	TBD(4)	$	(10,712)	(10,773)
	2.200	03/12/2025	TBD(4)	EUR	(2,920)	(3,161)
MZF	5.330	03/12/2025	09/12/2025	$	(58,258)	(58,430)
	5.530	03/12/2025	09/12/2025		(448)	(450)
NOM	4.200	12/20/2024	TBD(4)		(4,634)	(4,689)
	4.750	12/20/2024	TBD(4)		(3,457)	(3,503)
NXN	4.800	03/18/2025	04/01/2025		(436)	(436)
	4.800	03/28/2025	07/16/2025		(3,049)	(3,051)
	4.810	02/26/2025	04/02/2025		(862)	(866)
	4.840	04/01/2025	04/02/2025		(348)	(349)
RBC	5.700	03/20/2025	09/19/2025		(2,429)	(2,434)
	5.750	02/06/2025	05/06/2025		(2,514)	(2,536)
	5.750	03/20/2025	09/19/2025		(2,113)	(2,118)
RCE	3.467	02/05/2025	08/05/2025	EUR	(2,417)	(2,629)
RCY	4.830	03/07/2025	04/07/2025	$	(11,403)	(11,441)
	4.880	03/20/2025	04/21/2025		(6,180)	(6,190)
RTA	4.950	03/19/2025	06/18/2025		(21,795)	(21,833)
	5.120	03/11/2025	07/10/2025		(26,888)	(26,968)
	5.320	03/18/2025	09/18/2025		(7,246)	(7,261)
	5.350	03/04/2025	09/04/2025		(12,869)	(12,923)
	5.400	03/04/2025	09/04/2025		(2,626)	(2,637)
	5.400	03/14/2025	07/14/2025		(2,912)	(2,920)
	5.480	03/11/2025	07/10/2025		(12,516)	(12,556)
	5.490	01/30/2025	07/29/2025		(29,382)	(29,654)
	5.500	03/11/2025	07/10/2025		(13,922)	(13,966)
	5.500	03/31/2025	05/15/2025		(4,917)	(4,918)
	5.550	12/20/2024	06/18/2025		(142)	(145)
	5.550	01/07/2025	04/07/2025		(6,340)	(6,422)
	5.550	03/19/2025	09/19/2025		(13,949)	(13,976)
	5.560	01/30/2025	07/29/2025		(7,815)	(7,888)
	5.570	01/30/2025	07/29/2025		(21,422)	(21,620)
	5.600	01/30/2025	07/29/2025		(5,522)	(5,574)
	5.680	01/09/2025	05/09/2025		(5,009)	(5,072)
SBI	5.450	01/29/2025	07/28/2025		(24,847)	(25,080)
	5.500	01/29/2025	07/28/2025		(24,276)	(24,506)
	5.550	01/29/2025	07/28/2025		(4,905)	(4,952)
	5.600	01/29/2025	07/28/2025		(2,938)	(2,966)
SCX	4.450	01/10/2025	TBD(4)		(3,615)	(3,652)
SGY	4.810	03/28/2025	04/09/2025		(17,597)	(17,606)
SOG	4.540	03/14/2025	TBD(4)		(11,403)	(11,429)
	4.600	12/20/2024	TBD(4)		(26,241)	(26,583)
	4.620	03/14/2025	TBD(4)		(18,502)	(18,544)
	4.700	02/18/2025	04/08/2025		(587)	(590)
	4.700	03/17/2025	04/09/2025		(1,579)	(1,582)
	4.810	01/08/2025	04/08/2025		(262)	(265)
	4.810	01/09/2025	04/09/2025		(26,587)	(26,879)
	4.810	02/06/2025	04/08/2025		(1,730)	(1,742)
	4.810	02/06/2025	04/09/2025		(2,831)	(2,851)
	4.830	03/18/2025	06/18/2025		(1,954)	(1,958)
	4.830	03/24/2025	06/24/2025		(16,187)	(16,204)
	5.260	01/23/2025	07/23/2025		(9,894)	(9,997)
	5.360	03/18/2025	09/18/2025		(15,710)	(15,743)
	5.460	01/23/2025	07/23/2025		(4,532)	(4,579)
	5.460	03/13/2025	09/12/2025		(3,811)	(3,822)
	5.510	10/18/2024	04/17/2025		(1,221)	(1,252)
	5.510	01/23/2025	07/23/2025		(843)	(852)
	5.510	02/07/2025	08/07/2025		(23,981)	(24,174)
	5.560	01/23/2025	07/23/2025		(25,210)	(25,473)
UBS	2.570	03/12/2025	TBD(4)	EUR	(5,529)	(5,987)
	2.630	03/12/2025	TBD(4)		(5,376)	(5,821)
	2.650	03/12/2025	TBD(4)		(8,543)	(9,251)
	2.700	03/12/2025	TBD(4)		(8,362)	(9,055)
	3.104	03/21/2025	06/23/2025		(242)	(262)
	3.168	03/07/2025	06/09/2025		(13,511)	(14,642)
	3.254	03/21/2025	06/23/2025		(3,624)	(3,923)
	4.850	01/03/2025	04/03/2025	$	(17,415)	(17,622)
	4.850	03/28/2025	04/03/2025		(8,077)	(8,081)
	5.083	03/07/2025	06/09/2025	GBP	(2,243)	(2,907)
	5.400	01/03/2025	04/03/2025	$	(31,615)	(32,033)
	5.500	01/03/2025	04/03/2025		(8,570)	(8,685)
	5.520	11/01/2024	04/30/2025		(15,590)	(15,951)
	5.630	10/29/2024	04/29/2025		(47,024)	(48,157)


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


							5.640				10/16/2024							04/16/2025							(3,187)								(3,270)
WFS							4.940				03/17/2025							05/19/2025							(5,778)								(5,790)
							4.960				03/17/2025							05/19/2025							(26,481)								(26,536)
							5.010				03/17/2025							05/19/2025							(13,566)								(13,595)

Total Reverse Repurchase Agreements																															$		(2,980,336)

(m)	Securities with an aggregate market value of $3,688,623 and cash of $37,877 have been pledged as collateral under the terms of master agreements as of March 31, 2025.
(1)	Includes accrued interest.
(2)	Open maturity repurchase agreement.
(3)	The average amount of borrowings outstanding during the period ended March 31, 2025 was $(2,939,166) at a weighted average interest rate of 5.639%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.
(4)	Open maturity reverse repurchase agreement.
(n)	FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED
FUTURES CONTRACTS:
SHORT FUTURES CONTRACTS
													Variation Margin
Description						Expiration Month			# of Contracts						Notional Amount						Unrealized Appreciation/ (Depreciation)							Asset							Liability

3-Month SOFR Active Contract December Futures						03/2026			102			$			(24,576)				$		375					$		0				$			0
3-Month SOFR Active Contract June Futures						09/2025			287						(68,823)						730							11							0
3-Month SOFR Active Contract March Futures						06/2025			315						(75,354)						776							2							0
3-Month SOFR Active Contract March Futures						06/2026			95						(22,918)						315							0							0
3-Month SOFR Active Contract September Futures						12/2025			76						(18,276)						313							1							0

Total Futures Contracts														$		2,509					$	14					$			0

SWAP AGREEMENTS:
INTEREST RATE SWAPS
													Variation Margin
Pay/ Receive Floating Rate		Floating Rate Index	Fixed Rate	Payment Frequency	Maturity Date					Notional Amount						Premiums Paid/ (Received)				Unrealized Appreciation/ (Depreciation)				Market Value						Asset						Liability

Pay		1-Day GBP-SONIO Compounded-OIS	3.500%	Annual	03/19/2030			GBP		150,900			$			(4,811)	$			339			$	(4,472)					$	658				$		0
Receive		1-Day GBP-SONIO Compounded-OIS	0.500	Annual	09/16/2030					27,000						335				6,382				6,717						0						(116)
Receive		1-Day GBP-SONIO Compounded-OIS	0.750	Annual	09/21/2052					28,300						(2,278)				24,401				22,123						0						(266)
Receive		1-Day USD-SOFR Compounded-OIS	2.300	Annual	01/17/2026			$		15,100						7				268				275						1						0
Pay		1-Day USD-SOFR Compounded-OIS	3.750	Annual	12/18/2026					1,244,900						6,094				(8,986)				(2,892)						102						0
Receive		1-Day USD-SOFR Compounded-OIS	1.360	Semi-Annual	02/15/2027					13,450						(2)				699				697						1						0
Pay		1-Day USD-SOFR Compounded-OIS	3.750	Annual	12/18/2027					1,348,200						13,042				(12,752)				290						254						0
Pay		1-Day USD-SOFR Compounded-OIS	0.500	Semi-Annual	06/16/2028					660						(31)				(37)				(68)						0						0
Pay		1-Day USD-SOFR Compounded-OIS	3.750	Annual	12/18/2028					196,000						2,649				(2,313)				336						95						0
Receive		1-Day USD-SOFR Compounded-OIS	3.750	Annual	06/20/2029					123,500						(2,337)				2,957				620						0						(83)
Pay		1-Day USD-SOFR Compounded-OIS	3.750	Annual	12/18/2029					275,200						4,155				(3,519)				636						252						0
Receive		1-Day USD-SOFR Compounded-OIS	1.500	Annual	12/15/2031					98,500						(2,199)				15,831				13,632						0						(158)
Receive		1-Day USD-SOFR Compounded-OIS	1.750	Semi-Annual	12/15/2031					16,600						(225)				2,346				2,121						0						(26)
Receive		1-Day USD-SOFR Compounded-OIS	2.000	Annual	12/21/2032					88,000						10,651				51				10,702						0						(182)
Pay		1-Day USD-SOFR Compounded-OIS	3.750	Annual	12/18/2034					1,300						28				(32)				(4)						4						0
Receive		1-Day USD-SOFR Compounded-OIS	3.850	Annual	12/21/2038					108,200						418				(171)				247						0						(449)
Receive		1-Day USD-SOFR Compounded-OIS	2.750	Semi-Annual	03/20/2043					1,300						(4)				246				242						0						(6)
Receive		1-Day USD-SOFR Compounded-OIS	2.750	Semi-Annual	12/16/2045					3,800						(44)				795				751						0						(19)
Receive		1-Day USD-SOFR Compounded-OIS	2.500	Semi-Annual	06/20/2048					3,100						256				515				771						0						(16)


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Receive		1-Day USD-SOFR Compounded-OIS		2.250	Semi-Annual		03/12/2050			20,500					(367)				6,594					6,227			0					(105)
Receive		1-Day USD-SOFR Compounded-OIS		1.750	Annual		06/15/2052			68,000					16,788				8,781					25,569			0					(354)
Receive		1-Day USD-SOFR Compounded-OIS		1.750	Annual		12/21/2052			45,800					11,031				5,493					16,524			0					(241)
Receive		1-Day USD-SOFR Compounded-OIS		3.500	Annual		12/21/2052			92,160					786				4,623					5,409			0					(642)
Pay		1-Year BRL-CDI		11.250	Maturity		01/04/2027		BRL	9,400					0				(119)					(119)			3					0
Pay		1-Year BRL-CDI		11.275	Maturity		01/04/2027			4,700					0				(59)					(59)			1					0
Pay		1-Year BRL-CDI		11.290	Maturity		01/04/2027			4,700					0				(58)					(58)			1					0
Pay		1-Year BRL-CDI		11.731	Maturity		01/04/2027			2,400					0				(23)					(23)			1					0
Pay		1-Year BRL-CDI		11.746	Maturity		01/04/2027			10,500					0				(99)					(99)			3					0
Receive		1-Year BRL-CDI		11.823	Maturity		01/04/2027			599,100					0				5,049					5,049			0					(178)
Pay		1-Year BRL-CDI		11.901	Maturity		01/04/2027			25,100					0				(212)					(212)			7					0
Pay		1-Year BRL-CDI		12.047	Maturity		01/04/2027			437,000					0				(3,286)					(3,286)			130					0
Receive		6-Month EUR-EURIBOR		0.150	Annual		03/18/2030		EUR	20,400					373				2,267					2,640			0					(35)
Receive		6-Month EUR-EURIBOR		0.150	Annual		06/17/2030			1,200					(1)				153					152			0					(3)
Receive		6-Month EUR-EURIBOR		0.250	Annual		03/18/2050			2,500					139				1,060					1,199			0					(12)
Receive		6-Month EUR-EURIBOR		0.500	Annual		06/17/2050			500					(16)				234					218			0					(3)
Receive		6-Month EUR-EURIBOR		0.500	Annual		09/21/2052			34,600					2,992				12,597					15,589			0					(176)
Receive(1)		6-Month EUR-EURIBOR		0.830	Annual		12/09/2052			143,700					1,990				10,843					12,833			0					(74)
Receive(1)		6-Month EUR-EURIBOR		2.250	Annual		09/17/2055			14,900					1,128				86					1,214			0					(117)

Total Swap Agreements											$			60,547			$	80,944			$		141,491		$	1,513				$	(3,261)

Cash of $60,927 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2025.
(1)	This instrument has a forward starting effective date.
(o)	FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER
FORWARD FOREIGN CURRENCY CONTRACTS:
												Unrealized Appreciation/(Depreciation)
Counterparty			Settlement Month					Currency to be Delivered								Currency to be Received						Asset							Liability

AZD			04/2025			JPY		660					$			4				$		0						$	0
			05/2025			CNH		2,700								369						0							(4)
			05/2025			$		1,439					CNH			10,421						1							(1)
			05/2025					4					JPY			658						0							0
			06/2025			CNH		6,647					$			910						0							(10)
			07/2025					5,186								720						1							0
			08/2025					5,187								719						0							(1)
BOA			04/2025			CZK		814								33						0							(2)
			04/2025			DOP		146,646								2,305						0							(3)
			04/2025			$		5,875					EUR			5,522						96							0
			05/2025			CNH		2,640					$			361						0							(4)
			05/2025			HKD		354,774								45,664						15							0
BPS			04/2025			CZK		11,308								465						0							(25)
			04/2025			EUR		11,318								12,284						46							0
			04/2025			IDR		1,158,079								70						0							0
			04/2025			TRY		30,210								805						15							0
			04/2025			$		160					IDR			2,622,637						0							(2)
			04/2025					2,208					TRY			84,165						11							0
			05/2025			CNH		9,703					$			1,335						0							(4)
			05/2025			$		4,759					EUR			4,410						18							0
			05/2025					70					IDR			1,159,616						0							0
			06/2025			CNH		7,824					$			1,074						0							(9)
			06/2025			$		507					PLN			1,970						3							(3)
			05/2029			KWD		1,047					$			3,600						64							0
			07/2029					128								440						8							0
BRC			04/2025			EUR		3,036								3,299						16							0
			04/2025			JPY		185,400								1,260						24							0
			04/2025			TRY		650,329								16,792						16							(152)
			04/2025			$		4,101					EUR			3,771						0							(23)
			04/2025					30,553					TRY			1,165,399						70							(374)
			04/2025					1,624					ZAR			29,933						7							0
			05/2025			EUR		2,989					$			3,242						5							0
			05/2025			TRY		82,462								2,086						2							(7)
			05/2025			$		1,012					GBP			782						0							(2)
			05/2025					20,262					TRY			792,413						0							(462)
			06/2025			TRY		85,680					$			2,035						0							(18)
			06/2025			$		13					PLN			52						0							0
			06/2025					25,802					TRY			1,018,840						0							(1,111)
BSH			04/2025			AUD		444					$			281						4							0
			04/2025			JPY		2,374								16						0							0
			05/2025			$		16					JPY			2,366						0							0
			06/2025					109					PLN			421						0							(1)
CBK			04/2025			CAD		4,205					$			2,952						30							0


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


	04/2025	DOP	253,002				4,010		25		0
	04/2025	EUR	6,785				7,332		0		(5)
	04/2025	IDR	1,377,911				83		0		0
	04/2025	$	84		IDR		1,377,911		0		(1)
	05/2025	DOP	275,958		$		4,388		52		0
	05/2025	$	2,952		CAD		4,199		0		(30)
	05/2025		34,771		EUR		32,057		0		(51)
	05/2025		70		IDR		1,156,750		0		0
DUB	04/2025	GBP	19,324		$		25,012		49		0
	04/2025	$	280		AUD		444		0		(2)
	04/2025		55,840		EUR		51,763		416		(284)
	04/2025		63		IDR		1,045,418		0		0
	05/2025	AUD	444		$		280		3		0
	05/2025	$	2,169		GBP		1,676		0		(4)
FAR	04/2025	EUR	872,936		$		916,877		0		(27,028)
	04/2025	HUF	195,080				529		6		0
	04/2025	ZAR	450				25		0		0
	05/2025	$	367		CNH		2,648		0		(2)
	06/2025		218		PLN		844		0		(1)
	07/2025	CNH	2,638		$		367		1		0
GLM	04/2025	BRL	24,351				4,250		0		(17)
	04/2025	IDR	757,470				46		0		0
	04/2025	TRY	20,047				499		0		(15)
	04/2025	$	4,241		BRL		24,351		27		0
	04/2025		45		IDR		737,873		0		0
	04/2025		655		TRY		25,708		7		0
	05/2025	CNH	2,567		$		350		0		(4)
	05/2025	DOP	45,933				722		0		0
	05/2025	$	46		IDR		758,155		0		0
	06/2025		118		PLN		456		0		(1)
	08/2025	DOP	1,582,570		$		24,677		223		0
	09/2025		275,343				4,297		55		0
JPM	04/2025	CAD	1,750				1,225		8		0
	04/2025	IDR	84,721				5		0		0
	04/2025	JPY	1,388				9		0		0
	04/2025	TRY	38,650				961		0		(29)
	04/2025	$	27,996		EUR		26,364		512		0
	04/2025		5		IDR		84,721		0		0
	05/2025	CNH	2,744		$		376		0		(3)
	05/2025	TRY	189,815				4,904		111		0
	05/2025	$	1,349		CNH		9,776		2		(1)
	05/2025		9		JPY		1,384		0		0
	05/2025		11,257		TRY		495,222		1,271		0
	06/2025	CNH	1,600		$		219		0		(2)
	06/2025	$	1,696		MXN		34,999		0		(3)
	06/2025		456		PLN		1,767		1		(2)
	06/2025		28,800		TRY		1,134,542		0		(1,142)
	07/2025	CNH	4,998		$		693		0		(1)
	08/2025		4,733				656		0		(2)
MBC	04/2025	EUR	47,258				51,314		214		0
	04/2025	$	1,242		CAD		1,782		0		(4)
	04/2025		25,314		EUR		23,898		571		(44)
	04/2025		1,552		GBP		1,200		0		(2)
	05/2025	CNH	4,721		$		651		0		(1)
	05/2025	$	665		CNH		4,821		1		(1)
	06/2025		153		PLN		589		0		(1)
	07/2025	CNH	2,396		$		332		0		0
	08/2025		2,403				333		0		(1)
MYI	04/2025	GBP	163,602				207,301		0		(4,033)
	04/2025	TRY	494				13		0		0
	04/2025	$	2,932		CAD		4,174		0		(32)
	04/2025		926,605		EUR		859,081		2,319		0
	04/2025		6,111		GBP		4,729		0		(3)
	04/2025	ZAR	203,692		$		11,142		45		0
	05/2025	EUR	859,081				928,107		0		(2,320)
	06/2025	$	34		PLN		136		1		0
RYL	04/2025		1,297		JPY		190,500		0		(27)
SCX	04/2025	BRL	24,458		$		4,259		0		(27)
	04/2025	EUR	29,066				31,335		0		(94)
	04/2025	$	4,184		BRL		24,458		102		0
	05/2025	CNH	4,242		$		588		3		0
	06/2025	BRL	24,768				4,184		0		(101)
SSB	04/2025	$	228,891		GBP		176,998		0		(255)
	05/2025	GBP	176,998		$		228,874		252		0
UAG	04/2025	IDR	202,293				12		0		0
	04/2025	$	12		IDR		202,293		0		0
	04/2025		217		TRY		8,738		8		0
	05/2025		12		IDR		202,577		0		0
	06/2025		48		PLN		185		0		0

Total Forward Foreign Currency Contracts				$		6,737		$		(37,794)


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


SWAP AGREEMENTS:
CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION(1)
																					Swap Agreements, at Value(4)
Counterparty		Reference Entity					Fixed Receive Rate			Payment Frequency				Maturity Date						Implied Credit Spread at March 31, 2025(2)															Notional Amount(3)					Premiums Paid/(Received)						Unrealized Appreciation/ (Depreciation)								Asset					Liability

BPS		Petroleos Mexicanos					1.000%			Quarterly				12/20/2028						4.280%								$							3,000			$		(580)				$		266						$		0			$		(314)
BRC		Egypt Government International Bond					1.000			Quarterly				12/20/2028						5.447															22,600					(3,907)						764								0					(3,143)
		Egypt Government International Bond					1.000			Quarterly				06/20/2029						5.662															6,900					(1,476)						367								0					(1,109)
DUB		Eskom «					4.650			Quarterly				06/30/2029						0.057															22,100					0						1,263								1,263					0
		Petroleos Mexicanos «					4.750			Monthly				07/06/2026						0.003															3,483					0						24								24					0
		Petroleos Mexicanos «					4.850			Monthly				07/06/2026						0.004															1,882					0						14								14					0
GST		Eutelsat SA					5.000			Quarterly				12/20/2025						5.000								EUR							400					(18)						19								1					0
		Soft Bank Group,Inc.					1.000			Quarterly				06/20/2026						1.326								$							4,800					(41)						24								0					(17)
MYC		Petroleos Mexicanos					1.000			Quarterly				12/20/2028						4.280															3,700					(722)						334								0					(388)

																																						$		(6,744)				$		3,075						$		1,302			$		(4,971)

CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION(1)
																					Swap Agreements, at Value(4)
Counterparty		Index/Tranches										Fixed Receive Rate			Payment Frequency							Maturity Date											Notional Amount(3)						Premiums Paid/(Received)						Unrealized Appreciation/ (Depreciation)								Asset					Liability

FBF		ABX.HE.AA.6-2 Index «										0.170%			Monthly							05/25/2046				$							21,180				$		(18,854)				$		15,269						$		0			$		(3,585)
GST		ABX.HE.AA.6-1 Index «										0.320			Monthly							07/25/2045											4,126						(821)						518								0					(303)
		ABX.HE.PENAAA.7-1 Index «										0.090			Monthly							08/25/2037											1,376						(964)						922								0					(42)

																																						$		(20,639)				$		16,709						$		0			$		(3,930)

TOTAL RETURN SWAPS ON INDEXES
																					Swap Agreements, at Value
Counterparty			Pay/Receive(5)			Underlying Reference		# of Units					Financing Rate						Payment Frequency						Maturity Date											Notional Amount					Premiums Paid/(Received)						Unrealized Appreciation/ (Depreciation)								Asset					Liability

MYC			Receive		United States Treasury Inflation Indexed Bonds «			N/A			0.000%							Maturity						01/28/2036					CNY					59,900				$		25				$		(1,658)						$		0			$		(1,633)

TOTAL RETURN SWAPS ON LOAN PARTICIPATIONS AND ASSIGNMENTS
																					Swap Agreements, at Value
Counterparty		Pay/ Receive		Underlying Reference					Financing Rate								Payment Frequency						Maturity Date							Notional Amount										Premiums Paid/(Received)						Unrealized Appreciation/ (Depreciation)								Asset					Liability

BPS		Pay		AP Core Holdings II, LLC					0.000%								Monthly						09/01/2027									465						$		0				$		(640)						$		0			$		(640)

Total Swap Agreements																					$			(27,358)							$			17,486							$	1,302						$		(11,174)

(p)	Securities with an aggregate market value of $45,499 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2025.
(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2)	Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(3)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4)	The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(5)	Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference.
FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2025 in valuing the Fund's assets and liabilities:

Category and Subcategory																Level 1											Level 2													Level 3									Fair Value at 03/31/2025


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Investments in Securities, at Value
Loan Participations and Assignments												$		0						$		1,582,700				$	816,960			$			2,399,660
Corporate Bonds & Notes
		Banking & Finance												0								318,414					0						318,414
		Industrials												0								1,252,922					173,268						1,426,190
		Utilities												0								167,734					0						167,734
Convertible Bonds & Notes
		Banking & Finance												0								8,719					0						8,719
Municipal Bonds & Notes
		Arizona												0								878					0						878
		Michigan												0								3,092					0						3,092
		West Virginia												0								33,499					0						33,499
U.S. Government Agencies														0								170,699					0						170,699
Non-Agency Mortgage-Backed Securities														0								1,982,567					5,157						1,987,724
Asset-Backed Securities
		Automobile ABS Other												0								15,272					15,579						30,851
		Automobile Sequential												0								0					17,139						17,139
		Home Equity Other												0								647,050					0						647,050
		Home Equity Sequential												0								13					0						13
		Manufacturing House ABS Other												0								21,520					0						21,520
		Manufacturing House Sequential												0								6,259					0						6,259
		Whole Loan Collateral												0								68,238					0						68,238
		Other ABS												0								387,031					170,038						557,069
Sovereign Issues														0								429,500					0						429,500
Common Stocks
		Communication Services												10,359								0					91,103						101,462
		Consumer Discretionary												0								0					272						272
		Financials												48,846								0					59,244						108,090
		Industrials												0								77					10,371						10,448
Warrants
		Financials												0								0					27						27
Preferred Securities
		Banking & Finance												0								48,319					0						48,319
		Industrials												0								14,328					52,800						67,128
Real Estate Investment Trusts
		Real Estate												31,222								0					0						31,222
Corporate Bonds & Notes														0								0					0						0
Short-Term Instruments
		Repurchase Agreements												0								166,689					0						166,689
		U.S. Treasury Bills												0								56,383					0						56,383

												$		90,427						$		7,381,903				$	1,411,958			$			8,884,288
Investments in Affiliates, at Value
Common Stocks
		Affiliated Investments												4,244								0					401,711						405,955
Short-Term Instruments
		Central Funds Used for Cash Management Purposes												410,074								0					0						410,074

												$		414,318						$		0				$	401,711			$			816,029

Total Investments												$		504,745						$		7,381,903				$	1,813,669			$			9,700,317

Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared														0								1,527					0						1,527
Over the counter														0								6,738					1,301						8,039

												$		0						$		8,265				$	1,301			$			9,566
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared														0								(3,261)					0						(3,261)
Over the counter														0								(43,405)					(5,563)						(48,968)

												$		0						$		(46,666)				$	(5,563)			$			(52,229)

Total Financial Derivative Instruments												$		0						$		(38,401)				$	(4,262)			$			(42,663)

Totals												$		504,745						$		7,343,502				$	1,809,407			$			9,657,654




The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2025:
Category and Subcategory			Beginning Balance at 06/30/2024			Net Purchases (1)		Net Sales/Settlements (1)			Accrued Discounts/ (Premiums)					Realized Gain/(Loss)			Net Change in Unrealized Appreciation/ (Depreciation) (2)					Transfers into Level 3				Transfers out of Level 3				Ending Balance at 03/31/2025				Net Change in Unrealized Appreciation/ (Depreciation) on Investments Held at 03/31/2025 (2)

Investments in Securities, at Value
Loan Participations and Assignments			$	568,000		$	308,740	$	(303,146)	$			1,909		$		7,056	$			30,537		$		203,864			$	0		$			816,960	$		(4,011)
Corporate Bonds & Notes
	Banking & Finance				61,252		0		(63,025)				0				571				1,477				0				(275)					0			7
	Industrials				188,223		117,259		(162,872)				(332)				(50,670)				48,531				33,129				0					173,268			22,131


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


Non-Agency Mortgage-Backed Securities				8,463				5,185					(1,649)		105			166			286		0		(7,399)				5,157			8
Asset-Backed Securities
	Automobile ABS Other				23,922			0					0		0			0			(8,343)		0		0				15,579			(8,343)
	Automobile Sequential				0			17,100					0		0			0			39		0		0				17,139			39
	Home Equity Other				1,305			0					(275)		24			27			(4)		0		(1,077)				0			(7)
	Home Equity Sequential				62			0					(47)		0			10			(25)		0		0				0			0
	Whole Loan Collateral				536			0					(80)		3			12			10		0		(481)				0			0
	Other ABS				109,196			69,097					(4,826)		(309)			(2,480)			(6,882)		6,636		(394)				170,038			(6,118)
Common Stocks
	Communication Services(3)(4)				71,603			1,227					0		0			0			18,273		0		0				91,103			18,273
	Consumer Discretionary(4)				272			0					0		0			0			0		0		0				272			0
	Energy				3,964			0					(4,288)		0			4,008			(3,684)		0		0				0			0
	Financials				65,286			285					0		0			0			(6,327)		0		0				59,244			(6,327)
	Industrials				7,740			2,367					(14)		0			0			278		0		0				10,371			278
Warrants
	Financials				34			0					0		0			0			(7)		0		0				27			(7)
Preferred Securities
	Industrials				0			52,800					0		0			0			0		0		0				52,800			0

		$		1,109,858		$		574,060		$			(540,222)	$	1,400	$		(41,300)	$		74,159	$	243,629	$	(9,626)			$	1,411,958	$		15,923
Investments in Affiliates, at Value
Common Stocks
	Affiliated Investments		$		400,499	$		112,516		$			(83,407)	$	0	$		64,031	$		(91,928)	$	0	$	0			$	401,711	$		(29,851)

Financial Derivative Instruments- Assets
Over the counter		$		1,705		$		19		$			0	$	0	$		0	$		(423)	$	0	$	0			$	1,301	$		(423)

Financial Derivative Instruments- Liabilities
Over the counter		$		(6,737)		$		28		$			(1,096)	$	0	$		1,749	$		493	$	0	$	0			$	(5,563)	$		493

Totals		$		1,505,325		$		686,623		$			(624,725)	$	(1,400)	$		24,480	$		(17,699)	$	243,629	$	(9,626)			$	1,809,407	$		(13,858)

The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:
																	(% Unless Noted Otherwise)

Category and Subcategory							Ending Balance at 03/31/2025				Valuation Technique									Unobservable Inputs							Input Value(s)				Weighted Average

Investments in Securities, at Value
Loan Participations and Assignments							$		15,953			Comparable Companies								EBITDA Multiple						X	14.000				—
									239,367			Discounted Cash Flow								Discount Rate							5.423 - 14.360				9.011
									12,374			Discounted Cash Flow/Indicative Market Quotation								Discount Rate/Broker Quote						%/ %	7.261/90.000				—
									164,502			Indicative Market Quotation								Broker Quote							74.500 - 100.500				88.767
									67,213			Other Valuation Techniques(5)								—							-				—
									62,925			Recent Transaction								Purchase Price							95.750 - 99.000				98.248
									254,626			Third Party Vendor								Broker Quote							37.500 - 116.500				107.781
Corporate Bonds & Notes
	Industrials								138,675			Comparable Companies/Discounted Cash Flow								Revenue Multiple/Discount Rate						X/ %	0.900/10.000				—
									1,095			Discounted Cash Flow								Discount Rate							6.950				—
									33,129			Indicative Market Quotation								Broker Quote							60.000 - 82.000				67.138
									369			Proxy pricing								Base Price							98.000				—
Non-Agency Mortgage-Backed Securities									4,311			Recent Transaction								Purchase Price							0.700 - 95.664				41.078
									846			Recent Transaction								Purchase Price							70.750				—
Asset-Backed Securities
	Automobile ABS Other								15,579			Discounted Cash Flow								Discount Rate							16.000				—
	Automobile Sequential								17,139			Proxy pricing								Base Price							100.000				—
	Other ABS								162,520			Discounted Cash Flow								Discount Rate							4.642 - 25.000				11.297
									7,518			Recent Transaction								Purchase Price							89.500				—
Common Stocks
	Communication Services								70,805			Comparable Companies								EBITDA Multiple						X	4.609				—
									20,298			Discounted Cash Flow								Discount Rate							13.210				—
	Consumer Discretionary								272			Comparable Companies/Discounted Cash Flow								Revenue Multiple/Discount Rate						X/ %	0.500/20.750				—
	Financials								59,128			Comparable Companies								EBITDA Multiple						X	4.660				—
									116			Indicative Market Quotation								Broker Quote						$	4.500				—
	Industrials								2,688			Comparable Companies								EBITDA Multiple						X/ %	11.000/9.750				—
									7,683			Indicative Market Quotation								Broker Quote							1.063 - 25.188				2.742
Warrants
	Financials								27			Option Pricing Model								Volatility							32.500				—
Preferred Securities
	Industrials								52,800			Other Valuation Techniques(5)								—							—				—
Investments in Affiliates, at Value


Consolidated Schedule of Investments PIMCO Dynamic Income Fund (Cont.)	March 31, 2025 (Unaudited)


	Affiliated Investments			164,438	Comparable Companies	EBITDA Multiple	X	14.000	—
				82,778	Comparable Companies/Discounted Cash Flow	Revenue Multiple/Discount Rate	X/ %	0.900/10.000	—
				154,492	Sum of the parts	Discount rate/mortality assumption		15.323/2015 ANB VBT Mortality Table	—
				3	Expected Recovery	Price	$	0.000(6)	—
Financial Derivative Instruments- Assets
Over the counter				1,301	Indicative Market Quotation	Broker Quote		0.329 - 5.703	5.546
Financial Derivative Instruments- Liabilities
Over the counter				(5,563)	Indicative Market Quotation	Broker Quote	$	(19.768) - 98.500	83.899

Total			$	1,809,407

(1)		Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions.
(2)		Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2025 may be due to an investment no longer held or categorized as Level 3 at period end.
(3)		Sector type updated from Utilities to Communication Services since prior fiscal year end.
(4)		Sector type updated from Industrials to Communication Services and Consumer Discretionary since prior fiscal year end.
(5)		Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund.
(6)		Input Value is 0.0001.


Subsidiary	Date of Formation	Subsidiary % of Consolidated Fund Net Assets†
PCILS I LLC	03/07/2013	0.0%
PDILS I LLC	03/12/2013	0.0%


	Market Value 06/30/2024		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value 03/31/2025		Dividend Income(1)		Realized Net Capital Gain Distributions(1)
$	619,008	$	2,500,429	$	(2,709,700)	$	249	$	88	$	410,074	$	24,653	$	0

Glossary: (abbreviations that may be used in the preceding statements)					(Unaudited)

Counterparty Abbreviations:
AZD	Australia and New Zealand Banking Group	FBF	Credit Suisse International	NXN	Natixis New York
BNY	Bank of New York Mellon	GLM	Goldman Sachs Bank USA	RBC	Royal Bank of Canada
BOA	Bank of America N.A.	GST	Goldman Sachs International	RCE	Royal Bank of Canada Europe Limited
BOM	Bank of Montreal	IND	Crédit Agricole Corporate and Investment Bank S.A.	RCY	Royal Bank of Canada
BOS	BofA Securities, Inc.	JML	JP Morgan Securities Plc	RTA	RBC (Barbados) Trading Bank Corp.
BPS	BNP Paribas S.A.	JPM	JP Morgan Chase Bank N.A.	RYL	NatWest Markets Plc
BRC	Barclays Bank PLC	JPS	J.P. Morgan Securities LLC	SBI	Citigroup Global Markets Ltd.

BSH	Banco Santander S.A. - New York Branch	MBC	HSBC Bank Plc	SCX	Standard Chartered Bank, London
BYR	The Bank of Nova Scotia - Toronto	MEI	Merrill Lynch International	SGY	Societe Generale, NY
CBK	Citibank N.A.	MSB	Morgan Stanley Bank, N.A	SOG	Societe Generale Paris
CDC	Natixis Securities Americas LLC	MYC	Morgan Stanley Capital Services LLC	SSB	State Street Bank and Trust Co.
DBL	Deutsche Bank AG London	MYI	Morgan Stanley & Co. International PLC	UAG	UBS AG Stamford
DEU	Deutsche Bank Securities, Inc.	MZF	Mizuho Securities USA LLC	UBS	UBS Securities LLC
DUB	Deutsche Bank AG	NOM	Nomura Securities International, Inc.	WFS	Wells Fargo Securities, LLC
FAR	Wells Fargo Bank National Association

Currency Abbreviations:
AUD	Australian Dollar	EUR	Euro	MXN	Mexican Peso
BRL	Brazilian Real	GBP	British Pound	PEN	Peruvian New Sol
CAD	Canadian Dollar	HKD	Hong Kong Dollar	PLN	Polish Zloty
CNH	Chinese Renminbi (Offshore)	HUF	Hungarian Forint	TRY	Turkish New Lira
CNY	Chinese Renminbi (Mainland)	IDR	Indonesian Rupiah	USD (or $)	United States Dollar
CZK	Czech Koruna	JPY	Japanese Yen	ZAR	South African Rand
DOP	Dominican Peso	KWD	Kuwaiti Dinar

Index/Spread Abbreviations:
ABX.HE	Asset-Backed Securities Index - Home Equity	EUR012M	12 Month EUR Swap Rate	SOFR	Secured Overnight Financing Rate
EUR001M	1 Month EUR Swap Rate	JIBA3M	3 Month JIBAR rate	SONIO	Sterling Overnight Interbank Average Rate
EUR003M	3 Month EUR Swap Rate	PENAAA	Penultimate AAA Sub-Index	US0003M	ICE 3-Month USD LIBOR
EUR006M	6 Month EUR Swap Rate	PRIME	Daily US Prime Rate

Municipal Bond or Agency Abbreviations:
ACA	American Capital Access Holding Ltd.

Other Abbreviations:
ABS	Asset-Backed Security	CLO	Collateralized Loan Obligation	PIK	Payment-in-Kind
ALT	Alternate Loan Trust	DAC	Designated Activity Company	REMIC	Real Estate Mortgage Investment Conduit
BRL-CDI	Brazil Interbank Deposit Rate	EURIBOR	Euro Interbank Offered Rate	TBD	To-Be-Determined
CBO	Collateralized Bond Obligation	OIS	Overnight Index Swap	TBD%	Interest rate to be determined when loan settles or at the time of funding
CDO	Collateralized Debt Obligation


Security Name		Market Value at 06/30/2024		Purchases at cost		Proceeds from Sale		Net Realized Gain/(Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value at 03/31/2025		Dividend Income	Shares Held at 03/31/2025
Amsurg Equity	$	174,118	$	0	$	0	$	0	$	(9,680)	$	164,438	$	0	3,517,243
Incora New Equity		0		112,516		0		0		(29,738)		82,778		0	2,316,329
Market Garden Dogwood LLC		144,925		0		0		0		9,567		154,492		7,775	147,000,000
Neiman Marcus Group Ltd. LLC		81,453		0		(83,407)		64,031		(62,077)		0		0	0
Oi SA		0		0		0		0		4,244		4,244		0	24,221,572
Sierra Hamilton Holder LLC		3		0		0		0		0		3		0	30,337,712