Schedule of Investments PIMCO Global StocksPLUS® & Income Fund

March 31, 2026 (Unaudited)

 

(AMOUNTS IN THOUSANDS*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)

 

 

PRINCIPAL
AMOUNT
(000s)

 

MARKET
VALUE
(000s)

INVESTMENTS IN SECURITIES 154.5% ¤

 

 

 

 

LOAN PARTICIPATIONS AND ASSIGNMENTS 27.4%

 

 

 

 

Aligned Data Centers International LP
7.223% due 12/18/2029 «~

$

500

$

503

Altice France SA

 

 

 

 

8.735% (TSFR3M + 5.063%) due 10/30/2028 ~

 

296

 

295

10.547% (TSFR3M + 6.875%) due 05/31/2031 ~

 

419

 

421

Bausch Health Cos., Inc.
9.918% (TSFR1M + 6.250%) due 10/08/2030 ~

 

694

 

672

Central Parent, Inc.
6.950% (TSFR3M + 3.250%) due 07/06/2029 ~

 

1,592

 

1,141

Clover Holdings 2 LLC

 

 

 

 

TBD% - 3.500% due 12/10/2029 ~µ

 

106

 

97

7.676% (TSFR1M + 4.000%) due 12/09/2031 ~

 

469

 

451

Coreweave Compute Acquisition Co. IV LLC
9.669% - 9.700% (TSFR3M + 6.000%) due 05/16/2029 «~

 

757

 

780

Databricks, Inc.

 

 

 

 

1.000% due 01/05/2032 ~µ

 

36

 

36

8.171% (TSFR1M + 4.500%) due 01/05/2032 ~

 

164

 

163

Dun & Bradstreet Corp.

 

 

 

 

0.500% - 5.500% due 08/26/2032 «~µ

 

19

 

19

0.500% - 5.500% (TSFR1M + 5.500%) due 08/26/2032 «~

 

188

 

184

Envision Healthcare Corp.

 

 

 

 

11.641% (TSFR3M + 7.875%) due 07/20/2026 «~

 

234

 

234

11.641% (TSFR3M + 7.875%) due 11/03/2028 «~

 

2,062

 

2,124

Forward Air Corp.
8.167% (TSFR3M + 4.500%) due 12/19/2030 ~

 

400

 

390

Gateway Casinos & Entertainment Ltd.
9.936% (TSFR3M + 6.250%) due 12/18/2030 ~

 

817

 

819

Ivanti Software, Inc.

 

 

 

 

8.411% (TSFR3M + 4.750%) due 06/01/2029 ~

 

741

 

503

9.411% (TSFR3M + 5.750%) due 06/01/2029 ~µ

 

99

 

99

Lealand Finance Co. BV
6.782% (TSFR1M + 3.000%) due 06/30/2027 ~

 

7

 

6

Lealand Finance Co. BV (7.782% Cash)
7.782% (TSFR1M + 4.000%) due 12/31/2027 ~

 

75

 

63

Mercury Aggregator LP
TBD% due 04/03/2027 «~

 

15

 

0

MPH Acquisition Holdings LLC

 

 

 

 

7.417% (TSFR3M + 3.750%) due 12/31/2030 ~

 

749

 

748

8.528% (TSFR3M + 4.600%) due 12/31/2030 ~

 

174

 

155

Newfold Digital Holdings Group, Inc.

 

 

 

 

7.269% - 9.442% (TSFR1M + 3.500%) due 04/30/2029 ~

 

168

 

112

7.269% - 9.442% (TSFR3M + 5.750%) due 04/30/2029 «~

 

21

 

16

OCS Group Holdings Ltd.
8.980% due 11/28/2031 ~

GBP

1,000

 

1,319

Peraton Corp.

 

 

 

 

7.517% (TSFR3M + 3.750%) due 02/01/2028 ~

$

2,332

 

1,996

11.523% (TSFR3M + 7.750%) due 02/01/2029 ~

 

100

 

73

Polaris Newco LLC

 

 

 

 

6.026% (EUR003M + 4.000%) due 06/02/2028 ~

EUR

830

 

817

7.928% (TSFR3M + 4.000%) due 06/02/2028 ~

$

637

 

562

Poseidon Bidco SASU
7.504% (EUR006M + 5.000%) due 03/13/2030 ~

EUR

400

 

139

Promotora de Informaciones SA
7.249% (EUR003M + 5.220%) due 06/29/2029 ~

 

3,393

 

3,941

Softbank Vision Fund II
7.350% (TSFR3M + 3.650%) due 04/25/2029 «~

$

365

 

371

Spruce Bidco II, Inc.

 

 

 

 

0.500% - 8.371% (TSFR6M + 4.750%) due 01/30/2032 «~µ

 

31

 

31

0.500% - 8.371% (JY0003M + 5.000%) due 01/30/2032 «~

JPY

2,611

 

16

0.500% - 8.371% (CDOR06 + 4.750%) due 01/30/2032 «~

CAD

24

 

17

0.500% - 8.371% (TSFR6M + 4.750%) due 01/30/2032 «~

$

135

 

133

Steenbok Lux Finco 2 SARL
1TBD% due 12/31/2028 ~

EUR

2,341

 

814

Stepstone Group Midco 2 GmbH
8.199% (TSFR6M + 4.500%) due 12/19/2031 ~

$

199

 

175

Syniverse Holdings, Inc.
10.700% (TSFR3M + 7.000%) due 05/13/2027 «~

 

2,024

 

1,875

U.S. Renal Care, Inc.

 

 

 

 

1.500% - 9.675% (TSFR1M + 6.000%) due 09/25/2030 «~

 

1,239

 

1,262

8.782% (TSFR1M + 5.000%) due 06/28/2028 ~

 

1,556

 

1,470

Unicorn Bay
13.000% due 12/31/2026 «~

HKD

5,216

 

673

Upfield BV
TBD% due 10/31/2030

GBP

700

 

887

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Westmoreland Coal Co.
8.000% due 03/15/2029 «~

$

371

 

161

Total Loan Participations and Assignments (Cost $29,308)

 

 

 

26,763

CORPORATE BONDS & NOTES 30.8%

 

 

 

 

BANKING & FINANCE 5.0%

 

 

 

 

Ambac Assurance Corp.
5.100% due 12/31/2099 (g)

 

13

 

16

Armor Holdco, Inc.
8.500% due 11/15/2029 (i)

 

200

 

183

CI Financial Corp.
7.500% due 05/30/2029 (i)

 

600

 

630

Corestate Capital Holding SA (8.000% Cash or 9.000% PIK)
8.000% due 12/31/2028 (b)

EUR

153

 

92

Credit Suisse AG AT1 Claim

$

200

 

70

Ford Motor Credit Co. LLC
5.676% (SOFRRATE + 2.030%) due 03/20/2028 ~(i)

 

900

 

902

Hestia Re Ltd.
3.640% (BNMMDTSC + 0.100%) due 04/22/2029 ~

 

7

 

4

Integrity Re Ltd.
26.306% (FHMMUSTF + 22.796%) due 06/08/2026 ~

 

100

 

104

ION Platform Finance SARL

 

 

 

 

6.500% due 09/30/2030

EUR

500

 

483

7.875% due 05/01/2029

 

100

 

108

ION Platform Finance U.S., Inc./ION Platform Finance SARL

 

 

 

 

8.750% due 05/01/2029

$

200

 

186

9.000% due 08/01/2029

 

200

 

186

Long Point Re IV Ltd.
7.810% (BRMMUSDF + 4.250%) due 06/01/2026 ~

 

500

 

501

Sanders Re III Ltd.
15.880% (BRMMUSDF + 12.320%) due 04/09/2029 ~

 

250

 

162

Thames Ssnm Unfunded Comm
9.750% due 10/10/2027

GBP

3

 

4

Titanium 2l Bondco SARL
6.250% due 01/14/2031

EUR

967

 

182

Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC
6.000% due 01/15/2030 (i)

$

1,127

 

1,061

Voyager Aviation Holdings LLC
8.500% due 05/09/2026 ^«(c)

 

1,203

 

0

 

 

 

 

4,874

INDUSTRIALS 23.0%

 

 

 

 

Altice France Lux 3/Altice Holdings 1
10.000% due 01/15/2033

 

347

 

315

Altice France SA
9.500% due 11/01/2029

 

556

 

563

ams-OSRAM AG
12.250% due 03/30/2029 (i)

 

1,200

 

1,277

APLD ComputeCo 2 LLC
6.750% due 03/15/2031

 

100

 

99

Aston Martin Capital Holdings Ltd.
10.000% due 03/31/2029 (i)

 

200

 

151

Beignet Investor LLC
6.581% due 05/30/2049 (i)

 

1,710

 

1,759

Central Parent, Inc./CDK Global, Inc.
7.250% due 06/15/2029

 

100

 

72

Cheplapharm Arzneimittel GmbH
7.500% due 05/15/2030

EUR

900

 

1,051

Cogent Communications Group LLC/Cogent Finance, Inc.
7.000% due 06/15/2027 (i)

$

725

 

717

CoreWeave, Inc.
9.000% due 02/01/2031

 

200

 

191

DISH DBS Corp.

 

 

 

 

5.250% due 12/01/2026

 

2,000

 

1,984

5.750% due 12/01/2028

 

100

 

97

7.750% due 07/01/2026

 

800

 

798

Ecopetrol SA
7.750% due 02/01/2032 (i)

 

1,750

 

1,769

Flora Food Management BV
7.500% due 10/31/2030

EUR

100

 

115

GSG Bidco Ltd.
5.375% due 06/15/2036

 

180

 

207

HF Sinclair Corp.
6.250% due 01/15/2035 (i)

$

450

 

465

Incora Intermediate II LLC (0.500% PIK)
0.500% due 01/31/2030 «(b)

 

1,638

 

1,638

Incora Top Holdco LLC
6.000% due 01/30/2033 «(h)

 

1,139

 

1,724

MPH Acquisition Holdings LLC
5.750% due 12/31/2030

 

400

 

306

MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK)
11.500% due 12/31/2030 (b)

 

105

 

95

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

National Mentor Holdings, Inc.
10.500% due 12/15/2030 (i)

 

200

 

207

Newfold Digital Holdings Group, Inc.
7.269% due 04/30/2029

 

229

 

94

Nissan Motor Co. Ltd.
4.810% due 09/17/2030 (i)

 

900

 

818

Noble Finance II LLC
8.000% due 04/15/2030 (i)

 

400

 

412

Ocado Group PLC
11.000% due 06/15/2030

GBP

750

 

991

Petroleos de Venezuela SA

 

 

 

 

6.000% due 11/15/2026 ^(c)

$

400

 

138

9.750% due 05/17/2035 ^(c)

 

300

 

125

Petroleos Mexicanos

 

 

 

 

6.700% due 02/16/2032 (i)

 

100

 

98

6.840% due 01/23/2030 (i)

 

200

 

201

Prime Healthcare Services, Inc.
9.375% due 09/01/2029 (i)

 

400

 

415

Sonangol Finance Ltd.
10.000% due 01/29/2031

 

200

 

199

Thames Water Super Senior Issuer PLC
9.750% due 10/10/2027

GBP

13

 

19

Topaz Solar Farms LLC
4.875% due 09/30/2039

$

121

 

109

U.S. Renal Care, Inc.
10.625% due 06/28/2028

 

756

 

632

Ubisoft Entertainment SA
0.878% due 11/24/2027

EUR

100

 

93

Vale SA
0.000% due 12/29/2049 ~(g)

BRL

20,000

 

1,692

Venture Global LNG, Inc.
9.500% due 02/01/2029 (i)

$

296

 

320

Viridien

 

 

 

 

8.500% due 10/15/2030

EUR

271

 

330

10.000% due 10/15/2030 (i)

$

200

 

213

 

 

 

 

22,499

UTILITIES 2.8%

 

 

 

 

Altice Holdings 1 SARL
0.010% due 12/31/2099 «

EUR

1

 

20

FORESEA Holding SA
7.500% due 06/15/2030

$

239

 

235

Nova Securitisation SARL

 

 

 

 

5.750% due 02/03/2031 (i)

 

500

 

484

6.500% due 02/03/2036 (i)

 

500

 

476

OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK)
10.000% due 06/30/2027 ^(b)(c)

 

1,678

 

814

OI SA (8.500% PIK)
8.500% due 12/31/2028 ^(b)(c)

 

2,532

 

27

Peru LNG SRL
5.375% due 03/22/2030 (i)

 

667

 

648

 

 

 

 

2,704

Total Corporate Bonds & Notes (Cost $33,409)

 

 

 

30,077

CONVERTIBLE BONDS & NOTES 0.8%

 

 

 

 

BANKING & FINANCE 0.0%

 

 

 

 

Corestate Capital Holding SA (8.000% Cash or 9.000% PIK)
8.000% due 12/31/2028 (b)

EUR

25

 

15

INDUSTRIALS 0.8%

 

 

 

 

DISH Network Corp.
3.375% due 08/15/2026

$

600

 

583

Ubisoft Entertainment SA
2.375% due 11/15/2028

EUR

200

 

221

 

 

 

 

804

Total Convertible Bonds & Notes (Cost $853)

 

 

 

819

MUNICIPAL BONDS & NOTES 0.8%

 

 

 

 

WEST VIRGINIA 0.8%

 

 

 

 

Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007
0.000% due 06/01/2047 (f)

$

8,800

 

818

Total Municipal Bonds & Notes (Cost $1,264)

 

 

 

818

U.S. GOVERNMENT AGENCIES 44.5%

 

 

 

 

Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates
0.700% due 11/25/2055 ~(a)

 

5,200

 

310

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Federal Home Loan Mortgage Corp. REMICS

 

 

 

 

2.374% due 05/25/2050 •(a)

 

794

 

95

2.653% due 03/15/2037 •(a)

 

191

 

18

2.783% due 09/15/2036 •(a)

 

102

 

10

2.793% due 09/15/2036 •(a)

 

221

 

22

Federal Home Loan Mortgage Corp. STACR REMICS Trust
11.162% due 10/25/2041 •(i)

 

1,200

 

1,234

Federal National Mortgage Association

 

 

 

 

3.500% due 03/01/2048 - 04/01/2048

 

289

 

270

7.000% due 03/01/2045

 

327

 

344

Federal National Mortgage Association Connecticut Avenue Securities Trust
6.762% due 10/25/2041 •

 

900

 

909

Federal National Mortgage Association REMICS

 

 

 

 

1.034% due 06/25/2044 •

 

224

 

147

2.224% due 11/25/2049 •(a)

 

86

 

11

2.274% due 03/25/2037 •(a)

 

75

 

6

2.374% due 11/25/2039 •(a)

 

73

 

6

2.524% due 01/25/2038 •(a)

 

110

 

10

2.604% due 03/25/2037 •(a)

 

82

 

8

2.624% due 12/25/2037 •(a)

 

104

 

8

2.634% due 06/25/2037 •(a)

 

37

 

3

2.674% due 04/25/2037 •(a)

 

206

 

24

2.824% due 11/25/2035 •(a)

 

1

 

0

3.000% due 04/25/2050 (a)(i)

 

9,469

 

1,541

3.024% due 11/25/2036 •(a)

 

383

 

46

3.424% due 02/25/2037 •(a)

 

74

 

9

Federal National Mortgage Association Trust
7.148% due 12/25/2042 ~

 

18

 

18

Government National Mortgage Association
6.500% due 01/20/2055 - 02/20/2055

 

110

 

114

Government National Mortgage Association REMICS
2.310% due 12/20/2048 •(a)

 

638

 

59

Government National Mortgage Association, TBA

 

 

 

 

3.500% due 04/01/2056

 

3,300

 

3,027

4.500% due 06/01/2040

 

2,100

 

2,025

5.000% due 06/01/2040

 

100

 

99

6.000% due 05/01/2056

 

700

 

711

6.500% due 05/01/2056

 

300

 

311

Uniform Mortgage-Backed Security, TBA

 

 

 

 

2.500% due 05/01/2056

 

150

 

126

3.000% due 06/01/2040

 

1,250

 

1,096

3.500% due 06/01/2056

 

8,100

 

7,410

4.000% due 06/01/2056

 

1,650

 

1,554

4.500% due 04/01/2056 - 06/01/2056

 

1,360

 

1,312

5.000% due 04/01/2056 - 05/01/2056

 

2,880

 

2,837

5.500% due 05/01/2056

 

5,500

 

5,518

6.000% due 06/01/2056

 

5,200

 

5,293

6.500% due 05/01/2056

 

6,600

 

6,823

Total U.S. Government Agencies (Cost $43,388)

 

 

 

43,364

U.S. TREASURY OBLIGATIONS 0.2%

 

 

 

 

U.S. Treasury Bonds

 

 

 

 

4.875% due 08/15/2045 (l)

 

59

 

59

U.S. Treasury Notes

 

 

 

 

4.250% due 08/15/2035 (l)

 

96

 

95

Total U.S. Treasury Obligations (Cost $159)

 

 

 

154

NON-AGENCY MORTGAGE-BACKED SECURITIES 9.1%

 

 

 

 

Atrium Hotel Portfolio Trust
5.470% due 12/15/2036 •

 

600

 

590

Banc of America Funding Trust

 

 

 

 

2.372% due 03/20/2036 ~

 

69

 

67

2.765% due 12/20/2034 ~

 

82

 

70

5.846% due 01/25/2037 ~

 

73

 

68

Bear Stearns ALT-A Trust

 

 

 

 

3.179% due 04/25/2035 ~

 

69

 

58

4.567% due 11/25/2035 ~

 

45

 

34

4.718% due 09/25/2035 ~

 

51

 

26

Bear Stearns ARM Trust
4.203% due 07/25/2036 ~

 

58

 

50

Bear Stearns Structured Products, Inc. Trust

 

 

 

 

3.920% due 12/26/2046 ~

 

113

 

88

4.788% due 01/26/2036 ~

 

184

 

132

CBA Commercial Small Balance Commercial Mortgage
6.040% due 01/25/2039 þ

 

60

 

58

CD Mortgage Trust
5.688% due 10/15/2048

 

46

 

44

Chevy Chase Funding LLC Mortgage-Backed Certificates

 

 

 

 

4.093% due 08/25/2035 •

 

19

 

18

4.473% due 10/25/2034 •

 

1

 

1

CHL Mortgage Pass-Through Trust

 

 

 

 

3.684% due 03/25/2037 ~

 

171

 

145

4.273% due 03/25/2036 •

 

83

 

79

4.493% due 10/20/2035 ~

 

43

 

42

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

4.503% due 10/20/2035 ~

 

13

 

13

4.573% due 02/25/2035 •

 

37

 

35

5.500% due 08/25/2035

 

10

 

5

Citigroup Mortgage Loan Trust, Inc.

 

 

 

 

4.871% due 11/25/2035 ~(i)

 

931

 

441

6.201% due 03/25/2037 ~

 

44

 

45

Countrywide Alternative Loan Trust

 

 

 

 

3.357% due 07/25/2036 •(a)

 

702

 

121

4.130% due 10/25/2035 ~

 

65

 

57

4.143% due 05/25/2036 •

 

1,156

 

289

4.273% due 12/25/2046 •

 

26

 

17

4.453% due 10/25/2035 •

 

367

 

244

4.474% due 02/25/2037 ~

 

45

 

41

5.500% due 08/25/2034

 

137

 

133

5.500% due 02/25/2036

 

11

 

6

6.250% due 09/25/2034

 

19

 

19

6.500% due 08/25/2036 (i)

 

1,966

 

559

9.369% due 07/25/2035 •(i)

 

304

 

276

CSMC Mortgage-Backed Trust
6.000% due 11/25/2036

 

66

 

58

First Horizon Alternative Mortgage Securities Trust
4.919% due 11/25/2036 ~

 

112

 

76

First Horizon Mortgage Pass-Through Trust
4.442% due 01/25/2037 ~

 

143

 

63

GSR Mortgage Loan Trust
4.271% due 04/25/2035 ~

 

49

 

44

HarborView Mortgage Loan Trust

 

 

 

 

2.267% due 11/19/2034 ~

 

24

 

20

4.391% due 04/19/2034 •

 

2

 

2

5.498% due 08/19/2036 ~

 

1

 

1

6.569% due 02/25/2036 ~

 

15

 

4

HSI Asset Loan Obligation Trust
5.280% due 01/25/2037 ~

 

79

 

46

IndyMac INDX Mortgage Loan Trust

 

 

 

 

3.287% due 06/25/2037 ~

 

227

 

206

4.333% due 06/25/2037 •

 

357

 

453

JP Morgan Mortgage Trust

 

 

 

 

0.000% due 04/25/2037 ~

 

129

 

69

5.500% due 01/25/2036

 

25

 

11

MASTR Adjustable Rate Mortgages Trust

 

 

 

 

3.830% due 10/25/2034 ~

 

46

 

42

5.314% due 11/25/2035 ~

 

221

 

90

Merrill Lynch Alternative Note Asset Trust
3.933% due 01/25/2037 •

 

576

 

172

Opteum Mortgage Acceptance Corp. Trust
4.333% due 07/25/2036 •

 

148

 

47

RALI Trust

 

 

 

 

4.554% due 12/26/2034 ~

 

40

 

36

4.973% due 01/25/2036 ~

 

281

 

188

6.000% due 09/25/2035

 

255

 

74

6.000% due 08/25/2036

 

77

 

65

RBSSP Resecuritization Trust
5.000% due 09/26/2036 ~

 

654

 

504

Seasoned Credit Risk Transfer Trust
5.000% due 06/25/2065 ~

 

800

 

676

STARM Mortgage Loan Trust
6.341% due 01/25/2037 ~

 

22

 

12

Structured Adjustable Rate Mortgage Loan Trust

 

 

 

 

3.981% due 04/25/2036 ~

 

139

 

71

4.219% due 01/25/2036 ~

 

165

 

87

4.243% due 09/25/2036 ~

 

106

 

71

4.305% due 09/25/2035 ~

 

28

 

19

5.259% due 05/25/2035 •(i)

 

576

 

458

Structured Asset Mortgage Investments II Trust

 

 

 

 

4.253% due 02/25/2036 •(i)

 

121

 

101

4.353% due 02/25/2036 •

 

76

 

65

WaMu Mortgage Pass-Through Certificates Trust

 

 

 

 

4.108% due 12/25/2036 ~(i)

 

144

 

134

4.647% due 07/25/2037 ~

 

37

 

34

Wells Fargo Commercial Mortgage Trust
4.928% due 12/15/2039 ~(i)

 

1,065

 

958

Total Non-Agency Mortgage-Backed Securities (Cost $10,163)

 

 

 

8,828

ASSET-BACKED SECURITIES 6.3%

 

 

 

 

AUTOMOBILE ABS OTHER 0.6%

 

 

 

 

FHF Trust
7.050% due 01/15/2030

 

568

 

568

HOME EQUITY OTHER 0.2%

 

 

 

 

Carrington Mortgage Loan Trust
4.093% due 08/25/2036 •

 

19

 

19

Citigroup Mortgage Loan Trust, Inc.
4.113% due 01/25/2037 •

 

112

 

37

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Countrywide Asset-Backed Certificates
4.893% due 09/25/2034 •

 

24

 

24

Morgan Stanley ABS Capital I, Inc. Trust
3.853% due 05/25/2037 •

 

51

 

47

Soundview Home Loan Trust
3.913% due 11/25/2036 •

 

144

 

38

Washington Mutual Asset-Backed Certificates Trust
3.913% due 10/25/2036 •

 

72

 

25

 

 

 

 

190

MANUFACTURING HOUSE SEQUENTIAL 0.1%

 

 

 

 

BCMSC Trust
7.830% due 06/15/2030 ~

 

1,421

 

79

Conseco Finance Securitizations Corp.
7.960% due 05/01/2031

 

364

 

63

 

 

 

 

142

WHOLE LOAN COLLATERAL 0.6%

 

 

 

 

Bear Stearns Asset-Backed Securities I Trust
11.030% due 03/25/2036 •(i)

 

1,610

 

408

Bear Stearns Asset-Backed Securities Trust
6.500% due 08/25/2036

 

517

 

149

Lehman XS Trust
4.208% due 05/25/2037 þ

 

12

 

11

 

 

 

 

568

OTHER ABS 4.8%

 

 

 

 

Adagio VI CLO DAC
0.000% due 04/30/2031 ~

EUR

187

 

46

Avoca CLO XX DAC
0.000% due 07/15/2032 ~

 

1,000

 

645

Belle Haven ABS CDO Ltd.
7.000% due 07/05/2046 •

$

34,966

 

76

Carlyle Global Market Strategies CLO Ltd.
0.000% due 04/17/2031 ~

 

1,700

 

18

Carlyle Global Market Strategies Euro CLO DAC

 

 

 

 

0.000% due 01/25/2032 ~

EUR

300

 

74

0.000% due 04/15/2038 ~

 

613

 

417

Carlyle U.S. CLO Ltd.
0.000% due 10/15/2031 ~

$

600

 

10

Marlette Funding Trust
0.000% due 07/16/2029 «(f)

 

2

 

0

RCKT Trust
7.830% due 11/27/2034

 

500

 

491

SMB Private Education Loan Trust

 

 

 

 

0.000% due 09/18/2046 «(f)

 

1

 

238

0.000% due 10/15/2048 «(f)

 

2

 

357

0.000% due 02/16/2055 «(f)

 

0

 

173

South Coast Funding VII Ltd.
0.454% due 01/06/2041 •

 

11,457

 

2,150

 

 

 

 

4,695

Total Asset-Backed Securities (Cost $19,558)

 

 

 

6,163

SOVEREIGN ISSUES 13.1%

 

 

 

 

Angola Government International Bonds

 

 

 

 

9.375% due 03/31/2033

 

200

 

198

9.875% due 03/31/2037

 

200

 

198

Argentina Bonar Bonds
0.750% due 07/09/2030 þ(i)

 

369

 

300

Argentina Republic Government International Bonds

 

 

 

 

1.000% due 07/09/2029

 

68

 

60

3.500% due 07/09/2041 þ

 

205

 

138

5.000% due 01/09/2038 þ(i)

 

1,597

 

1,207

Avenir Issuer IV Ireland DAC
6.000% due 10/25/2027

 

255

 

247

Colombia Government International Bonds

 

 

 

 

1.000% due 03/26/2031

COP

20,300

 

4

3.750% due 09/19/2028

EUR

500

 

567

5.000% due 09/19/2032

 

400

 

437

5.375% due 01/21/2029

$

1,000

 

992

5.625% due 02/19/2036

EUR

500

 

530

Colombia TES

 

 

 

 

1.000% due 08/22/2029

COP

39,500

 

10

9.250% due 05/28/2042

 

25,000

 

5

11.500% due 07/25/2046

 

63,800

 

15

11.750% due 01/24/2035

 

8,106,800

 

2,010

12.750% due 11/28/2040

 

174,200

 

46

Costa Rica Government International Bonds
6.001% due 01/16/2036

EUR

750

 

893

Dominican Republic International Bonds
10.500% due 03/15/2037 (i)

DOP

57,800

 

992

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Egypt Government Bonds
19.698% due 10/14/2030

EGP

91,500

 

1,648

Hellenic Republic Government Bonds

 

 

 

 

2.000% due 04/22/2027

EUR

73

 

84

3.900% due 01/30/2033

 

162

 

193

4.000% due 01/30/2037

 

127

 

148

4.200% due 01/30/2042

 

159

 

183

Republic of Kenya Government International Bonds

 

 

 

 

7.875% due 02/26/2034

$

200

 

182

8.700% due 02/26/2039

 

200

 

182

Romania Government International Bonds
5.875% due 07/11/2032

EUR

300

 

352

Russia Foreign Bonds - Eurobond
5.625% due 04/04/2042

$

200

 

140

Turkiye Government Bonds

 

 

 

 

39.740% (BISTREFI) due 05/17/2028 ~

TRY

4,400

 

99

40.299% (BISTREFI) due 09/06/2028 ~

 

24,200

 

542

Venezuela Government International Bonds

 

 

 

 

6.000% due 12/09/2049 ^(c)

$

50

 

19

9.250% due 09/15/2027 ^(c)

 

262

 

126

9.250% due 05/07/2028 ^(c)

 

100

 

46

Total Sovereign Issues (Cost $12,836)

 

 

 

12,793

 

 

SHARES

 

 

COMMON STOCKS 8.8%

 

 

 

 

COMMUNICATION SERVICES 1.1%

 

 

 

 

Clear Channel Outdoor Holdings, Inc. (d)

 

97,913

 

232

iHeartMedia, Inc. Class A (d)

 

22,927

 

67

iHeartMedia, Inc. Class B «(d)

 

17,837

 

46

SES SA «(d)

 

34,354

 

515

Uniti Group, Inc. (d)

 

19,694

 

185

 

 

 

 

1,045

CONSUMER DISCRETIONARY 0.0%

 

 

 

 

Steinhoff International Holdings NV «(d)(h)

 

4,155,239

 

0

FINANCIALS 1.7%

 

 

 

 

Banca Monte dei Paschi di Siena SpA

 

123,500

 

1,077

Windstream Services LLC (d)

 

62,982

 

591

XBP Global Holdings, Inc. (d)

 

131

 

1

 

 

 

 

1,669

HEALTH CARE 3.2%

 

 

 

 

AmSurg Corp. «(d)(h)

 

71,417

 

3,141

INDUSTRIALS 2.8%

 

 

 

 

Drillco Holdings Luxembourg SA «(h)

 

5,770

 

133

Foresea Holdings SA «

 

13,432

 

309

Incora New Equity «(d)(h)

 

49,990

 

1,893

Luxco Co. Ltd. «(d)(h)

 

9,156

 

169

Sierra Hamilton Holder LLC «(d)(h)

 

100,456

 

0

Westmoreland Mining Holdings «(d)(h)

 

13,114

 

8

Westmoreland Mining LLC «(d)(h)

 

41,325

 

176

 

 

 

 

2,688

REAL ESTATE 0.0%

 

 

 

 

MNSN Holdings, Inc. «(d)(h)

 

508

 

31

Total Common Stocks (Cost $8,653)

 

 

 

8,574

WARRANTS 0.1%

 

 

 

 

COMMUNICATION SERVICES 0.1%

 

 

 

 

Windstream Holdings II LLC - Exp. 08/01/2035

 

12,269

 

115

Total Warrants (Cost $75)

 

 

 

115

PREFERRED SECURITIES 3.9%

 

 

 

 

BANKING & FINANCE 3.3%

 

 

 

 

ADLER Group SA «

 

173,624

 

0

AGFC Capital Trust I
5.684% (US0003M + 1.750%) due 01/15/2067 ~(i)

 

1,000,000

 

626

OCP CLO Ltd.
0.000% due 04/26/2036 ~

 

2,501

 

966

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

WAFC Voussoir «

 

1,167,912

 

1,168

Windstream Holdings II LLC
11.000% «

 

402

 

427

 

 

 

 

3,187

INDUSTRIALS 0.6%

 

 

 

 

SVB Financial Trust

 

 

 

 

0.000% due 11/07/2032 (f)

 

440

 

0

11.000% due 11/07/2032

 

579

 

274

Syniverse Holdings, Inc.
12.500% «(h)

 

443,134

 

373

 

 

 

 

647

Total Preferred Securities (Cost $4,369)

 

 

 

3,834

 

 

PRINCIPAL
AMOUNT
(000s)

 

 

SHORT-TERM INSTRUMENTS 8.7%

 

 

 

 

EGYPT TREASURY BILLS 0.1%

 

 

 

 

24.205% due 08/04/2026 - 10/20/2026 (e)(f)

EGP

3,000

 

49

NIGERIA TREASURY BILLS 2.3%

 

 

 

 

20.606% due 01/14/2027 - 01/28/2027 (e)(f)

NGN

3,549,400

 

2,230

U.S. TREASURY BILLS 6.3%

 

 

 

 

3.678% due 05/05/2026 - 07/21/2026 (e)(f)(l)

$

6,174

 

6,119

Total Short-Term Instruments (Cost $8,362)

 

 

 

8,399

Total Investments in Securities (Cost $172,397)

 

 

 

150,700

 

 

SHARES

 

 

INVESTMENTS IN AFFILIATES 8.6%

 

 

 

 

SHORT-TERM INSTRUMENTS 8.6%

 

 

 

 

CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 8.6%

 

 

 

 

PIMCO Short-Term Floating NAV Portfolio III

 

858,774

 

8,364

Total Short-Term Instruments (Cost $8,356)

 

 

 

8,364

Total Investments in Affiliates (Cost $8,356)

 

 

 

8,364

Total Investments 163.1% (Cost $180,753)

 

 

$

159,064

Financial Derivative Instruments (j)(k) 1.2%(Cost or Premiums, net $(433))

 

 

 

1,209

Other Assets and Liabilities, net (64.3)%

 

 

 

(62,758)

Net Assets 100.0%

 

 

$

97,515

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

 

NOTES TO 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.

^

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.

(a)

Security is an Interest Only ("IO") or IO Strip.

(b)

Payment in-kind security.

(c)

Security is not accruing income as of the date of this report.

(d)

Security did not produce income within the last twelve months.

(e)

Coupon represents a weighted average yield to maturity.

(f)

Zero coupon security.

(g)

Perpetual maturity; date shown, if applicable, represents next contractual call date.

(h)

RESTRICTED SECURITIES:

Issuer Description

 

 

Acquisition
Date

 

Cost

 

Market
Value

Market Value
as Percentage
of Net Assets

AmSurg Corp.

 

 

11/02/2023 - 11/06/2023

$

2,984

$

3,141

3.22

%

Drillco Holdings Luxembourg SA

 

 

06/08/2023

 

116

 

133

0.14

 

Incora New Equity

 

 

01/31/2025

 

2,428

 

1,893

1.94

 

Incora Top Holdco LLC6.000% due 01/30/2033

 

 

01/31/2025 - 01/31/2026

 

1,139

 

1,724

1.77

 

Luxco Co. Ltd.

 

 

10/01/2025

 

161

 

169

0.17

 

MNSN Holdings, Inc.

 

 

03/16/2023 - 03/29/2023

 

6

 

31

0.03

 

Sierra Hamilton Holder LLC

 

 

07/31/2017

 

25

 

0

0.00

 

Steinhoff International Holdings NV

 

 

06/30/2023 - 10/30/2023

 

0

 

0

0.00

 

Syniverse Holdings, Inc.

 

 

05/12/2022 - 11/30/2025

 

437

 

373

0.38

 

Westmoreland Mining Holdings

 

 

12/08/2014 - 08/05/2016

 

367

 

8

0.01

 

Westmoreland Mining LLC

 

 

06/30/2023 - 02/03/2025

 

172

 

176

0.18

 

 

 

 

 

$

7,835

$

7,648

7.84%  

BORROWINGS AND OTHER FINANCING TRANSACTIONS

REVERSE REPURCHASE AGREEMENTS:

Counterparty

Borrowing Rate(1)

Settlement Date

Maturity Date

 

Amount
Borrowed(1)

 

Payable for
Reverse
Repurchase
Agreements

BPS

4.830%

01/27/2026

07/23/2026

$

(224)

$

(226)

 

5.170

01/22/2026

04/22/2026

 

(814)

 

(822)

BRC

2.500

02/09/2026

TBD(2)

 

(880)

 

(883)

 

4.120

03/05/2026

04/06/2026

 

(1,331)

 

(1,336)

BYR

4.180

12/05/2025

04/06/2026

 

(1,671)

 

(1,688)

CDC

4.130

03/23/2026

07/21/2026

 

(3,396)

 

(3,400)

 

4.140

03/03/2026

06/01/2026

 

(667)

 

(669)

CEW

4.120

02/26/2026

05/27/2026

 

(1,719)

 

(1,726)

DBL

3.900

12/12/2025

TBD(2)

 

(540)

 

(546)

 

4.100

03/06/2026

04/06/2026

 

(952)

 

(955)

GLM

4.930

12/23/2025

09/23/2026

 

(1,526)

 

(1,547)

IND

4.310

02/09/2026

05/11/2026

 

(809)

 

(814)

JML

4.060

03/20/2026

05/01/2026

 

(249)

 

(249)

 

4.100

03/20/2026

05/01/2026

 

(1,024)

 

(1,025)

SOG

3.990

03/10/2026

TBD(2)

 

(85)

 

(85)

 

4.190

03/17/2026

04/07/2026

 

(226)

 

(227)

 

4.190

03/17/2026

04/08/2026

 

(706)

 

(707)

TDM

3.830

12/12/2025

TBD(2)

 

(1,066)

 

(1,079)

 

3.900

02/13/2026

TBD(2)

 

(788)

 

(791)

UBS

4.120

01/22/2026

04/22/2026

 

(281)

 

(283)

 

4.170

01/22/2026

04/22/2026

 

(158)

 

(159)

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

 

4.820

11/19/2025

05/19/2026

 

(195)

 

(198)

Total Reverse Repurchase Agreements

 

 

 

 

 

$

(19,415)

SHORT SALES:

Description

Coupon

Maturity
Date

 

Principal
Amount

 

Proceeds

 

Payable for
Short Sales

U.S. Government Agencies (0.7)%

Uniform Mortgage-Backed Security, TBA

2.000%

05/01/2056

$

800

$

(641)

$

(644)

Total Short Sales (0.7)%

 

 

 

 

$

(641)

$

(644)

(i)

Securities with an aggregate market value of $21,832 have been pledged as collateral under the terms of master agreements as of March 31, 2026.

(1)

The average amount of borrowings outstanding during the period ended March 31, 2026 was $(17,227) at a weighted average interest rate of 4.480%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.

(2)

Open maturity reverse repurchase agreement.

(j)

FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

PURCHASED OPTIONS:

OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

Description

 

Strike
Price

Expiration
Date

# of
Contracts

 

Notional Amount

 

Cost

 

Market
Value

Put - CME E-mini S&P 500 April 2026 Futures

$

6,290.000

04/17/2026

141

$

7

$

447

$

328

Total Purchased Options

$

447

$

328

WRITTEN OPTIONS:

OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

Description

 

Strike
Price

Expiration
Date

# of
Contracts

 

Notional Amount

 

Premiums
(Received)

 

Market
Value

Call - CME E-mini S&P 500 April 2026 Futures

$

6,625.000

04/17/2026

141

$

7

$

(1,183)

$

(651)

Total Written Options

$

(1,183)

$

(651)

FUTURES CONTRACTS:

LONG FUTURES CONTRACTS

 

Variation Margin

Description

 

 

 

Expiration
Month

 

# of
Contracts

 

Notional
Amount

 

 

Unrealized
Appreciation/
(Depreciation)

 

Asset

 

Liability

E-Mini S&P 500 Index June Futures

06/2026

 

151

$

49,609

 

$

(856)

$

1,350

$

0

U.S. Treasury 10-Year Note June Futures

06/2026

 

1

 

111

 

 

(3)

 

0

 

0

 

 

 

 

 

 

 

 

$

(859)

$

1,350

$

0

SHORT FUTURES CONTRACTS

 

Variation Margin

Description

 

 

 

Expiration
Month

 

# of
Contracts

 

Notional
Amount

 

 

Unrealized
Appreciation/
(Depreciation)

 

Asset

 

Liability

3-Month SOFR Active Contract March Futures

06/2026

 

1

$

(241)

 

$

4

$

0

$

0

Total Futures Contracts

 

$

(855)

$

1,350

$

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

03/18/2031

GBP

1,300

$

(6)

$

(49)

$

(55)

$

4

$

0

Receive

1-Day GBP-SONIO Compounded-OIS

0.750

Annual

09/21/2052

 

600

 

123

 

374

 

497

 

0

 

(1)

Pay

1-Day USD-SOFR Compounded-OIS

4.250

Annual

06/15/2027

$

26,000

 

(151)

 

353

 

202

 

8

 

0

Receive

1-Day USD-SOFR Compounded-OIS

1.500

Semi-Annual

12/15/2028

 

1,250

 

(12)

 

84

 

72

 

0

 

(1)

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Pay

1-Day USD-SOFR Compounded-OIS

1.750

Annual

06/15/2029

 

340

 

(37)

 

12

 

(25)

 

0

 

0

Receive

1-Day USD-SOFR Compounded-OIS

3.750

Annual

06/20/2029

 

1,200

 

(23)

 

20

 

(3)

 

0

 

(1)

Receive

1-Day USD-SOFR Compounded-OIS

1.750

Semi-Annual

01/15/2030

 

600

 

(5)

 

52

 

47

 

0

 

(1)

Receive

1-Day USD-SOFR Compounded-OIS

2.000

Semi-Annual

02/12/2030

 

4,400

 

(56)

 

362

 

306

 

0

 

(4)

Receive

1-Day USD-SOFR Compounded-OIS

2.000

Semi-Annual

03/10/2030

 

500

 

0

 

35

 

35

 

0

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.250

Annual

06/18/2030

 

8,300

 

(76)

 

(89)

 

(165)

 

8

 

0

Receive

1-Day USD-SOFR Compounded-OIS

1.000

Semi-Annual

12/16/2030

 

400

 

(12)

 

61

 

49

 

0

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.500

Annual

03/18/2031

 

28,850

 

127

 

(285)

 

(158)

 

30

 

0

Pay

1-Day USD-SOFR Compounded-OIS

0.750

Semi-Annual

06/16/2031

 

2,229

 

(174)

 

(158)

 

(332)

 

2

 

0

Pay

1-Day USD-SOFR Compounded-OIS

1.750

Annual

06/15/2032

 

220

 

(9)

 

(19)

 

(28)

 

0

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.750

Annual

09/17/2032

 

10

 

0

 

0

 

0

 

0

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.750

Annual

12/17/2032

 

10

 

0

 

0

 

0

 

0

 

0

Receive

1-Day USD-SOFR Compounded-OIS

3.750

Annual

03/18/2033

 

60

 

(1)

 

1

 

0

 

0

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.000

Annual

06/21/2033

 

40

 

0

 

(2)

 

(2)

 

0

 

0

Receive

1-Day USD-SOFR Compounded-OIS

3.500

Annual

12/20/2033

 

2,900

 

93

 

(41)

 

52

 

0

 

(3)

Pay

1-Day USD-SOFR Compounded-OIS

3.500

Annual

12/20/2033

 

1,500

 

21

 

(49)

 

(28)

 

2

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.750

Annual

06/20/2034

 

2,450

 

(73)

 

61

 

(12)

 

3

 

0

Receive

1-Day USD-SOFR Compounded-OIS

3.750

Annual

12/17/2035

 

1,180

 

(19)

 

29

 

10

 

0

 

(1)

Receive

1-Day USD-SOFR Compounded-OIS

3.750

Annual

12/17/2045

 

730

 

15

 

26

 

41

 

1

 

0

Pay

1-Day USD-SOFR Compounded-OIS

3.000

Semi-Annual

12/19/2048

 

1,900

 

(5)

 

(393)

 

(398)

 

0

 

(4)

Receive

1-Day USD-SOFR Compounded-OIS

1.500

Annual

06/15/2052

 

5,400

 

468

 

1,951

 

2,419

 

16

 

0

Receive

1-Day USD-SOFR Compounded-OIS

1.750

Annual

06/15/2052

 

6,000

 

713

 

1,723

 

2,436

 

18

 

0

Pay

1-Year BRL-CDI

11.250

Maturity

01/04/2027

BRL

300

 

0

 

(4)

 

(4)

 

0

 

0

Pay

1-Year BRL-CDI

11.275

Maturity

01/04/2027

 

100

 

0

 

(1)

 

(1)

 

0

 

0

Pay

1-Year BRL-CDI

11.290

Maturity

01/04/2027

 

100

 

0

 

(1)

 

(1)

 

0

 

0

Pay

1-Year BRL-CDI

11.731

Maturity

01/04/2027

 

100

 

0

 

(1)

 

(1)

 

0

 

0

Pay

1-Year BRL-CDI

11.746

Maturity

01/04/2027

 

300

 

0

 

(3)

 

(3)

 

0

 

0

Pay

1-Year BRL-CDI

11.901

Maturity

01/04/2027

 

800

 

0

 

(8)

 

(8)

 

0

 

0

Pay

6-Month EUR-EURIBOR

0.650

Annual

02/26/2029

EUR

6,100

 

6

 

(438)

 

(432)

 

14

 

0

Receive

6-Month EUR-EURIBOR

0.150

Annual

03/18/2030

 

1,300

 

(18)

 

187

 

169

 

0

 

(4)

Receive

6-Month EUR-EURIBOR

0.150

Annual

06/17/2030

 

3,000

 

(132)

 

521

 

389

 

0

 

(10)

Receive

6-Month EUR-EURIBOR

0.250

Annual

09/21/2032

 

800

 

72

 

73

 

145

 

0

 

(4)

Receive

6-Month EUR-EURIBOR

1.250

Annual

08/19/2049

 

2,700

 

11

 

975

 

986

 

0

 

(21)

Pay

6-Month EUR-EURIBOR

0.250

Annual

03/18/2050

 

400

 

48

 

(277)

 

(229)

 

3

 

0

Pay

6-Month EUR-EURIBOR

0.500

Annual

06/17/2050

 

1,000

 

171

 

(700)

 

(529)

 

6

 

0

Receive(1)

6-Month EUR-EURIBOR

0.830

Annual

12/09/2052

 

1,600

 

11

 

187

 

198

 

2

 

0

Pay

CAONREPO

3.500

Semi-Annual

06/19/2034

CAD

1,000

 

35

 

(12)

 

23

 

2

 

0

Receive

CAONREPO

3.500

Semi-Annual

06/20/2044

 

600

 

7

 

(6)

 

1

 

1

 

0

Pay

Worldline SA/France

5.000

Quarterly

12/20/2030

EUR

1,700

 

(284)

 

(70)

 

(354)

 

0

 

(25)

Total Swap Agreements

$

828

$

4,481

$

5,309

$

120

$

(80)

Cash of $2,916 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026.

(1)

This instrument has a forward starting effective date.

(k)

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

04/2026

CAD

57

$

41

$

1

$

0

BOA

04/2026

BRL

563

 

108

 

0

 

(1)

 

04/2026

DOP

3,498

 

56

 

0

 

(1)

 

04/2026

$

108

BRL

564

 

1

 

0

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

 

04/2026

 

187

EUR

161

 

0

 

(1)

 

05/2026

DOP

195

$

3

 

0

 

0

BPS

05/2026

JPY

132,400

 

832

 

0

 

(4)

BRC

04/2026

HKD

348

 

45

 

0

 

0

 

04/2026

TRY

28,047

 

609

 

0

 

(10)

 

04/2026

$

1,392

TRY

62,613

 

6

 

0

 

05/2026

TRY

4,709

$

101

 

0

 

(1)

 

05/2026

$

18

TRY

833

 

0

 

0

BSH

04/2026

JPY

41,879

$

262

 

0

 

(2)

 

04/2026

$

1,086

GBP

816

 

0

 

(6)

 

05/2026

GBP

816

$

1,086

 

6

 

0

 

05/2026

$

262

JPY

41,753

 

2

 

0

CBK

04/2026

EUR

786

$

910

 

2

 

0

 

04/2026

GBP

85

 

113

 

0

 

0

 

04/2026

$

293

EUR

252

 

0

 

(2)

 

04/2026

 

1,653

GBP

1,246

 

0

 

(4)

DUB

04/2026

HKD

1,693

$

216

 

0

 

0

FAR

04/2026

GBP

1,962

 

2,651

 

55

 

0

 

04/2026

JPY

52,143

 

327

 

0

 

(2)

 

04/2026

$

105

JPY

16,335

 

0

 

(2)

 

05/2026

 

327

 

51,985

 

2

 

0

GLM

04/2026

BRL

1,132

$

213

 

0

 

(5)

 

04/2026

$

324

BRL

1,701

 

4

 

0

 

05/2026

DOP

15,496

$

240

 

0

 

(15)

 

06/2026

 

2,025

 

33

 

0

 

0

 

06/2026

$

213

BRL

1,147

 

6

 

0

 

07/2026

DOP

1,351

$

22

 

0

 

0

 

08/2026

 

14,858

 

239

 

0

 

(2)

 

09/2026

 

17,870

 

297

 

8

 

(1)

IND

04/2026

EUR

13,770

 

16,260

 

343

 

0

JPM

04/2026

HKD

1,975

 

253

 

1

 

0

 

04/2026

$

244

EUR

208

 

0

 

(4)

MBC

04/2026

EUR

124

$

142

 

0

 

(1)

 

04/2026

GBP

15

 

20

 

0

 

0

 

04/2026

JPY

23,238

 

145

 

0

 

(1)

 

04/2026

$

1,263

EUR

1,091

 

0

 

(2)

 

04/2026

 

114

JPY

17,685

 

0

 

(2)

 

05/2026

EUR

85

$

98

 

0

 

(1)

 

05/2026

$

145

JPY

23,168

 

1

 

0

NGF

04/2026

 

151

TRY

6,943

 

0

 

0

SCX

04/2026

 

41

CAD

57

 

0

 

0

 

04/2026

 

82

JPY

12,846

 

0

 

(1)

 

05/2026

CAD

57

$

41

 

0

 

0

SOG

04/2026

EUR

306

 

362

 

8

 

0

 

04/2026

$

15,318

EUR

13,274

 

25

 

0

 

04/2026

 

455

JPY

70,856

 

0

 

(9)

 

05/2026

EUR

13,274

$

15,342

 

0

 

(24)

 

06/2026

EGP

225

 

4

 

0

 

0

SSB

08/2026

COP

8,238,565

 

2,160

 

0

 

(15)

Total Forward Foreign Currency Contracts

$

471

$

(119)

SWAP AGREEMENTS:

CREDIT DEFAULT SWAPS ON ASSET-BACKED SECURITIES - SELL PROTECTION(1)

 

Swap Agreements, at Value(4)

Counterparty

Reference Obligation

Fixed
Receive Rate

Payment
Frequency

Maturity
Date

 

Notional
Amount(3)

 

Premiums
Paid/(Received)

 

Unrealized
Appreciation/
(Depreciation)

 

Asset

 

Liability

BOA

Long Beach Mortgage Loan Trust 6.584% due 07/25/2033

6.250%

Monthly

07/25/2033

$

67

$

0

$

0

$

0

$

0

CREDIT DEFAULT SWAPS ON CORPORATE 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, 2026(2)

 

Notional
Amount(3)

 

Premiums
Paid/(Received)

 

Unrealized
Appreciation/
(Depreciation)

 

Asset

 

Liability

CBK

Petroleos Mexicanos

1.000%

Quarterly

12/20/2026

2.033%

$

200

$

(2)

$

1

$

0

$

(1)

DUB

Eskom «

4.650

Quarterly

06/30/2029

—◆

 

400

 

0

 

17

 

17

 

0

GST

Soft Bank Group,Inc.

1.000

Quarterly

06/20/2026

1.662

 

500

 

(4)

 

3

 

0

 

(1)

MYC

Petroleos Mexicanos

1.000

Quarterly

12/20/2028

2.711

 

100

 

(20)

 

16

 

0

 

(4)

 

 

 

 

 

 

 

$

(26)

$

37

$

17

$

(6)

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

GST

ABX.HE.AA.6-1 Index «

0.320%

Monthly

07/25/2045

$

581

$

(116)

$

67

$

0

$

(49)

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

 

ABX.HE.PENAAA.7-1 Index «

0.090

Monthly

08/25/2037

 

356

 

(383)

 

378

 

0

 

(5)

 

 

 

 

 

 

$

(499)

$

445

$

0

$

(54)

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

JPM

Receive

NDDUEAFE Index

98

3.925% (SOFR plus a specified spread)

Monthly

07/08/2026

$

1,026

$

0

$

(4)

$

0

$

(4)

MYI

Receive

NDDUEAFE Index

4,549

3.800% (SOFR plus a specified spread)

Monthly

07/15/2026

 

47,643

 

0

 

(163)

 

0

 

(163)

 

 

 

 

 

 

 

 

$

0

$

(167)

$

0

$

(167)

Total Swap Agreements

$

(525)

$

315

$

17

$

(227)

(l)

Securities with an aggregate market value of $5,986 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

◆

Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation.

(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 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, 2026 in valuing the Fund's assets and liabilities:

 

Category and Subcategory

Level 1

Level 2

Level 3

Fair Value
at 03/31/2026

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

Investments in Securities, at Value

Loan Participations and Assignments

$

0

$

18,364

$

8,399

$

26,763

 

Corporate Bonds & Notes

 

Banking & Finance

 

0

 

4,874

 

0

 

4,874

 

 

Industrials

 

0

 

19,137

 

3,362

 

22,499

 

 

Utilities

 

0

 

2,684

 

20

 

2,704

 

Convertible Bonds & Notes

 

Banking & Finance

 

0

 

15

 

0

 

15

 

 

Industrials

 

0

 

804

 

0

 

804

 

Municipal Bonds & Notes

 

West Virginia

 

0

 

818

 

0

 

818

 

U.S. Government Agencies

 

0

 

43,364

 

0

 

43,364

 

U.S. Treasury Obligations

 

0

 

154

 

0

 

154

 

Non-Agency Mortgage-Backed Securities

 

0

 

8,828

 

0

 

8,828

 

Asset-Backed Securities

 

Automobile ABS Other

 

0

 

568

 

0

 

568

 

 

Home Equity Other

 

0

 

190

 

0

 

190

 

 

Manufacturing House Sequential

 

0

 

142

 

0

 

142

 

 

Whole Loan Collateral

 

0

 

568

 

0

 

568

 

 

Other ABS

 

0

 

3,927

 

768

 

4,695

 

Sovereign Issues

 

0

 

12,793

 

0

 

12,793

 

Common Stocks

 

Communication Services

 

484

 

0

 

561

 

1,045

 

 

Financials

 

1

 

1,668

 

0

 

1,669

 

 

Health Care

 

0

 

0

 

3,141

 

3,141

 

 

Industrials

 

0

 

0

 

2,688

 

2,688

 

 

Real Estate

 

0

 

0

 

31

 

31

 

Warrants

 

Communication Services

 

0

 

115

 

0

 

115

 

Preferred Securities

 

Banking & Finance

 

0

 

1,592

 

1,595

 

3,187

 

 

Industrials

 

0

 

274

 

373

 

647

 

Short-Term Instruments

 

Egypt Treasury Bills

 

0

 

49

 

0

 

49

 

 

Nigeria Treasury Bills

 

0

 

2,230

 

0

 

2,230

 

 

U.S. Treasury Bills

 

0

 

6,119

 

0

 

6,119

 

 

$

485

$

129,277

$

20,938

$

150,700

 

Investments in Affiliates, at Value

Short-Term Instruments

 

Central Funds Used for Cash Management Purposes

$

8,364

$

0

$

0

$

8,364

 

Total Investments

$

8,849

$

129,277

$

20,938

$

159,064

 

Short Sales, at Value - Liabilities

U.S. Government Agencies

$

0

$

(644)

$

0

$

(644)

 

Financial Derivative Instruments - Assets

Exchange-traded or centrally cleared

 

1,678

 

120

 

0

 

1,798

 

Over the counter

 

0

 

471

 

17

 

488

 

 

$

1,678

$

591

$

17

$

2,286

 

Financial Derivative Instruments - Liabilities

Exchange-traded or centrally cleared

 

(651)

 

(80)

 

0

 

(731)

 

Over the counter

 

0

 

(292)

 

(54)

 

(346)

 

 

$

(651)

$

(372)

$

(54)

$

(1,077))

 

Total Financial Derivative Instruments

$

1,027

$

219

$

(37)

$

1,209

 

Totals

$

9,876

$

128,852

$

20,901

$

159,629

 

 

 

 

The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:

Category and Subcategory

Beginning
Balance
at 06/30/2025

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 03/31/2026

Net Change in
Unrealized
Appreciation/
(Depreciation)
on Investments
Held at
03/31/2026 (2)

Investments in Securities, at Value

Loan Participations and Assignments

$

6,852

$

1,429

$

(1,824)

$

21

$

4

$

42

$

1,875

$

0

$

8,399

$

58

Corporate Bonds & Notes

 

Banking & Finance

 

7

 

(3)

 

(13)

 

0

 

1

 

12

 

0

 

(4)

 

0

 

0

 

Industrials

 

3,151

 

215

 

(251)

 

6

 

0

 

241

 

0

 

0

 

3,362

 

171

 

Utilities

 

0

 

17

 

0

 

0

 

0

 

3

 

0

 

0

 

20

 

3

Asset-Backed Securities

 

Other ABS

 

822

 

0

 

(2)

 

0

 

(1,630)

 

1,578

 

0

 

0

 

768

 

(55)

Common Stocks

Schedule of Investments PIMCO Global StocksPLUS® & Income Fund (Cont.)

March 31, 2026 (Unaudited)

 

 

Communication Services

 

1,058

 

0

 

(928)

 

0

 

525

 

(94)

 

0

 

0

 

561

 

533

 

Financials

 

1,187

 

0

 

(1,216)

 

0

 

(1,189)

 

1,218

 

0

 

0

 

0

 

0

 

Health Care

 

3,224

 

0

 

0

 

0

 

0

 

(83)

 

0

 

0

 

3,141

 

(83)

 

Industrials

 

2,187

 

479

 

(319)

 

0

 

2

 

339

 

0

 

0

 

2,688

 

339

 

Real Estate

 

0

 

0

 

0

 

0

 

0

 

31

 

0

 

0

 

31

 

31

Warrants

 

Communication Services

 

205

 

0

 

(185)

 

0

 

49

 

(69)

 

0

 

0

 

0

 

0

 

Financials

 

0

 

0

 

(2)

 

0

 

(761)

 

763

 

0

 

0

 

0

 

0

Preferred Securities

 

Banking & Finance

 

0

 

1,569

 

0

 

0

 

0

 

26

 

0

 

0

 

1,595

 

26

 

Industrials

 

395

 

26

 

0

 

0

 

0

 

(48)

 

0

 

0

 

373

 

(48)

 

$

19,088

$

3,732

$

(4,740)

$

27

$

(2,999)

$

3,959

$

1,875

$

(4)

$

20,938

$

975

Financial Derivative Instruments- Assets

Over the counter

$

24

$

0

$

0

$

0

$

0

$

(7)

$

0

$

0

$

17

$

(7)

Financial Derivative Instruments- Liabilities

Over the counter

$

(53)

$

104

$

(78)

$

0

$

30

$

(57)

$

0

$

0

$

(54)

$

(2)

Totals

$

19,059

$

3,836

$

(4,818)

$

27

$

(2,969)

$

3,895

$

1,875

$

(4)

$

20,901

$

966


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 03/31/2026

Valuation Technique

Unobservable Inputs

 

Input Value(s)

Weighted Average

Investments in Securities, at Value

Loan Participations and Assignments

$

2,358

Comparable Companies

EBITDA Multiple

X

16.360

—

 

 

3,316

Discounted Cash Flow

Discount Rate

 

6.312 - 9.260

8.025

 

 

673

Indicative Market Quotation

Broker Quote

 

101.250

—

 

 

2,052

Third Party Vendor

Broker Quote

 

43.500 - 92.625

88.636

Corporate Bonds & Notes

 

Industrials

 

3,362

Comparable Companies / Discounted Cash Flow

EBITDA Multiple/Discount Rate

X/
%

-

—

 

Utilities

 

20

Indicative Market Quotation

Broker Quote

EU
R

12.000

—

Asset-Backed Securities

 

Other ABS

 

768

Discounted Cash Flow

Discount Rate

 

12.000 - 14.500

13.813

Common Stocks

 

Communication Services

 

515

Indicative Market Quotation

Broker Quote

$

15.000

—

 

 

 

46

Reference Instrument

Liquidity Discount

 

12.000

—

 

Health Care

 

3,141

Comparable Companies

EBITDA Multiple

X

16.360

—

 

 

 

1,893

Comparable Companies / Discounted Cash Flow

EBITDA Multiple/Discount Rate

X/
%

-

—

 

Industrials

 

625

Indicative Market Quotation

Broker Quote

$

0.594 - 23.000

—

 

 

 

169

Indicative Market Quotation

Broker Quote

EU
R

16.000

—

 

Real Estate

 

31

Other Valuation Techniques (3)

—

 

 

 

Preferred Securities

 

Banking & Finance

 

428

Discounted Cash Flow

Discount Rate

 

11.900

—

 

 

 

1,168

Recent transaction

Purchase price

$

-

—

 

Industrials

 

373

Discounted Cash Flow

Discount Rate

 

19.155

—

Financial Derivative Instruments- Assets

Over the counter

 

17

Indicative Market Quotation

Broker Quote

 

-

—

 

Financial Derivative Instruments- Liabilities

Over the counter

 

(54)

Indicative Market Quotation

Broker Quote

 

 

—

Total

$

20,901

(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, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

(3)

Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund.

 

Notes to Financial Statements

 

1. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) Investment Valuation Policies The NAV of the Fund's shares, or each of its share classes, as applicable, is determined by dividing the total value of portfolio investments and other assets attributable to the Fund or class, less any liabilities, as applicable, by the total number of shares outstanding.

 

On each day that the New York Stock Exchange (“NYSE”) is open, the Fund’s shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) (“NYSE Close”). Information that becomes known to the Fund or its agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, the Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. The Fund generally does not calculate its NAV on days on which the NYSE is not open for business. If the NYSE is closed on a day it would normally be open for business, the Fund may calculate its NAV as of the NYSE Close for such day or such other time that the Fund may determine.

 

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Fund will normally use pricing data for domestic equity securities received shortly after the NYSE Close and do not normally take into account trading, clearances or settlements that take place after the NYSE Close. A foreign (non-U.S.) equity security traded on a foreign exchange or on more than one exchange is typically valued using pricing information from the exchange considered by Pacific Investment Management Company LLC (“PIMCO”) to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange, or the NYSE Close if the NYSE Close occurs before the end of trading on the foreign exchange.

 

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act. As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated PIMCO as the valuation designee (“Valuation Designee”) for the Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee’s policies and procedures govern the Valuation Designee’s selection and application of methodologies for determining and calculating the fair value of Fund investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, “Pricing Sources”).

 

Domestic and foreign (non-U.S.) fixed income securities, non-exchange traded derivatives and equity options are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources using data reflecting the earlier closing of the principal markets for those securities. Prices obtained from Pricing Sources may be based on, among other things, information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Certain fixed income securities purchased on a delayed-delivery basis are marked to market daily until settlement at the forward settlement date. Common stocks, exchange-traded funds (“ETFs”), exchange-traded notes and financial derivative instruments, such as futures contracts, rights and warrants, or options on futures that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. Exchange-traded options, except equity options, futures and options on futures, are valued at the settlement price determined by the relevant exchange. Swap agreements and swaptions are valued on the basis of bid quotes obtained from brokers and dealers or market-based prices supplied by Pricing Sources. With respect to any portion of the Fund’s assets that are invested in one or more open-end management investment companies (other thanETFs), the Fund’s NAV will be calculated based on the NAVs of such investments.

 

If a foreign (non-U.S.) equity security’s value has materially changed after the close of the security’s primary exchange or principal market but before the NYSE Close, the security may be valued at fair value. Foreign (non-U.S.) equity securities that do not trade when the NYSE is open are also valued at fair value. With respect to foreign (non-U.S.) equity securities, the Fund may determine the fair value of investments based on information provided by Pricing Sources, which may recommend fair value or adjustments with reference to other securities, indexes or assets. In considering whether fair valuation is required and in determining fair values, the Valuation Designee may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indexes) that occur after the close of the relevant market and before the NYSE Close. The Fund may utilize modeling tools provided by third-party vendors to determine fair values of foreign (non-U.S.) securities. For these purposes, unless otherwise determined by the Valuation Designee, any movement in the applicable reference index or instrument (“zero trigger”) between the earlier close of the applicable foreign market and the NYSE Close may be deemed to be a significant event, prompting the application of the pricing model (effectively resulting in daily fair valuations). Foreign exchanges may permit trading in foreign (non-U.S.) equity securities on days when the Fund is not open for business, which may result in the Fund's portfolio investments being affected when shareholders are unable to buy or sell shares.

 

Investments valued in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates obtained from Pricing Sources. As a result, the value of such investments and, in turn, the NAV of the Fund's shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of investments traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the Fund is not open for business. As a result, to the extent that the Fund holds foreign (non-U.S.) investments, the value of those investments may change at times when shareholders are unable to buy or sell shares and the value of such investments will be reflected in the Fund's next calculated NAV.

 

Fair valuation may require subjective determinations about the value of a security. While the Fund’s and Valuation Designee's policies and procedures are intended to result in a calculation of the Fund's NAV that fairly reflects security values as of the time of pricing, the Fund cannot ensure that fair values accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Fund may differ from the value that would be realized if the securities were sold.

 

(b) Fair Value Hierarchy U.S. GAAP describes fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into levels (Level 1, 2 or 3). The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

 

• Level 1 — Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.

 

 

Notes to Financial Statements(Cont.)

 

• Level 2 — Significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.

 

• Level 3 — Significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include assumptions made by the Valuation Designee that are used in determining the fair value of investments.

 

Assets or liabilities categorized as Level 2 or 3 as of period end have been transferred between Levels 2 and 3 since the prior period due to changes in the method utilized in valuing the investments. Transfers from Level 2 to Level 3 are a result of a change, in the normal course of business, from the use of methods used by Pricing Sources (Level 2) to the use of a Broker Quote or valuation technique which utilizes significant unobservable inputs due to an absence of current or reliable market-based data (Level 3). Transfers from Level 3 to Level 2 are a result of the availability of current and reliable market-based data provided by Pricing Sources or other valuation techniques which utilize significant observable inputs. In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the Fund.

 

For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between fair value Levels of the Fund's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy and, if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for the Fund.

 

(c) Valuation Techniques and the Fair Value Hierarchy

Level 1, Level 2 and Level 3 trading assets and trading liabilities, at fair value The valuation methods (or “techniques”) and significant inputs used in determining the fair values of portfolio securities or other assets and liabilities categorized as Level 1, Level 2 and Level 3 of the fair value hierarchy are as follows:

 

Common stocks, ETFs, exchange-traded notes and financial derivative instruments, such as futures contracts, rights and warrants, or options on futures that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy.

 

Investments in registered open-end investment companies (other than ETFs) will be valued based upon the NAVs of such investments and are categorized as Level 1 of the fair value hierarchy. Investments in unregistered open-end investment companies will be calculated based upon the NAVs of such investments and are considered Level 1 provided that the NAVs are observable, calculated daily and are the value at which both purchases and sales will be conducted.

 

Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign issues, bank loans, convertible preferred securities, non-U.S. bonds and short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The Pricing Sources' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

 

Fixed income securities purchased on a delayed-delivery basis or as a repurchase commitment in a sale-buyback transaction are marked to market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.

 

Mortgage-related and asset-backed securities are usually issued as separate tranches, or classes, of securities within each deal. These securities are also normally valued by Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. Mortgage-related and asset-backed securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

 

Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE Close. These securities are valued using Pricing Sources that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

 

Valuation adjustments may be applied to certain exchange traded futures and options to account for market movement between the exchange settlement and the NYSE Close. These securities are valued using quotes obtained from a quotation reporting system, established market makers or Pricing Sources. Financial derivatives using these valuation adjustments are categorized as Level 2 of the fair value hierarchy.

 

Equity exchange-traded options and over the counter financial derivative instruments, such as forward foreign currency contracts and options contracts derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. These contracts are normally valued on the basis of quotes obtained from a quotation reporting system, established market makers or Pricing Sources (normally determined as of the NYSE Close). Depending on the product and the terms of the transaction, financial derivative instruments can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as quoted prices, issuer details, indexes, bid/ask spreads, interest rates, implied volatilities, yield curves, dividends and exchange rates. Financial derivative instruments that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

 

Centrally cleared swaps and over the counter swaps derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. They are valued using a broker-dealer bid quotation or on market-based prices provided by Pricing Sources (normally determined as of the NYSE Close). Centrally cleared swaps and over the counter swaps can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models may use inputs that are

 

Notes to Financial Statements(Cont.)

 

observed from actively quoted markets such as the overnight index swap rate, LIBOR forward rate, interest rates, yield curves and credit spreads. These securities are categorized as Level 2 of the fair value hierarchy.

 

If third-party evaluated vendor pricing is not available or not deemed to be indicative of fair value, the Manager may elect to obtain Broker Quotes directly from the broker-dealer or passed through from a third-party vendor. In the event that fair value is based upon a single sourced Broker Quote, these securities are categorized as Level 3 of the fair value hierarchy. Broker Quotes are typically received from established market participants. Although independently received, the Manager does not have the transparency to view the underlying inputs which support the market quotation. Significant changes in the Broker Quote would have direct and proportional changes in the fair value of the security.

 

Reference instrument valuation estimates fair value by utilizing the correlation of the security to one or more broad-based securities, market indexes and/or other financial instruments, whose pricing information is readily available. Unobservable inputs may include those used in algorithms based on percentage change in the reference instruments and/or weights of each reference instrument. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source or input of the reference instrument.

 

Expected recovery valuation estimates that the fair value of an existing asset can be recovered, net of any liability. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

 

The Discounted Cash Flow model is based on future cash flows generated by the investment and may be normalized based on expected investment performance. Future cash flows are discounted to present value using an appropriate rate of return, typically calibrated to the initial transaction date and adjusted based on Capital Asset Pricing Model and/or other market-based inputs. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

 

The Comparable Companies model is based on application of valuation multiples from publicly traded comparable companies to the financials of the subject company. Adjustments may be made to the market-derived valuation multiples based on differences between the comparable companies and the subject company. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

 

Securities may be valued based on purchase prices of privately negotiated transactions. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

 

Short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) having a remaining maturity of 60 days or less may be valued at amortized cost, so long as the amortized cost value of such short-term debt instruments is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source of the base price.

 

When a fair valuation method is applied by PIMCO that uses significant unobservable inputs, investments will be priced by a method that the Valuation Designee believes reflects fair value and are categorized as Level 3 of the fair value hierarchy.

 

2. FEDERAL INCOME TAX MATTERS

The Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the “Code”) and distribute all of its taxable income and net realized gains, if applicable, to shareholders. Accordingly, no provision for Federal income taxes has been made.

 

The Fund may be subject to local withholding taxes, including those imposed on realized capital gains. Any applicable foreign capital gains tax is accrued daily based upon net unrealized gains, and may be payable following the sale of any applicable investments.

 

In accordance with U.S. GAAP, the Manager has reviewed the Fund's tax positions for all open tax years. As of March 31, 2026, the Fund has recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions it has taken or expects to take in future tax returns.

 

The Fund files U.S. federal, state and local tax returns as required. The Fund's tax returns are subject to examination by relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return but which can be extended to six years in certain circumstances. Tax returns for open years have incorporated no uncertain tax positions that require a provision for incometaxes.

    

3. INVESTMENTS IN AFFILIATES

The Fund may invest in the PIMCO Short Asset Portfolio and the PIMCO Short-Term Floating NAV Portfolio III ("Central Funds") to the extent permitted by the Act, rules thereunder or exemptive relief therefrom. The Central Funds are registered investment companies created for use solely by the series of the Trust and other series of registered investment companies advised by the Adviser, in connection with their cash management activities. The main investments of the Central Funds are money market and short maturity fixed income instruments. The Central Funds may incur expenses related to their investment activities, but do not pay Investment Advisory Fees or Supervisory and Administrative Fees to the Adviser. The Central Funds are considered to be affiliated with the Fund.A copy of each affiliate fund’s shareholder report is available at the U.S Securities and Exchange Commission (“SEC”) website at www.sec.gov, on the Fund’s website at www.pimco.com, or upon request, as applicable.The table below shows the Fund's transactions in and earnings from investments in the affiliated funds for the period endedMarch 31, 2026 (amounts in thousands†):

Investment in PIMCO Short-Term Floating NAV Portfolio III

 

 

Market Value
06/30/2025

 

Purchases at
Cost

 

Proceeds from
Sales

 

Net
Realized
Gain (Loss)

 

Change in
Unrealized
Appreciation
(Depreciation)

 

Market Value
03/31/2026

 

Dividend
Income(1)

 

Realized Net
Capital
Gain
Distributions(1)

$

10,174

$

81,990

$

(83,800)

$

0

$

0

$

8,364

$

289

$

0

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

(1) The tax characterization of distributions is determined in accordance with Federal income tax regulations and may contain a return of capital. The actual tax characterization of distributions received is determined at the end of the fiscal year of the affiliated fund.

 

Glossary: (abbreviations that may be used in the preceding statements)       (Unaudited)
                     
Counterparty Abbreviations:                
AZD   Australia and New Zealand Banking Group   DBL   Deutsche Bank AG London   MYC   Morgan Stanley Bank, N.A.
BOA   Bank of America N.A.   DUB   Deutsche Bank AG   MYI   Morgan Stanley & Co. International PLC
BPS   BNP Paribas S.A.   FAR   Wells Fargo Bank National Association   NGF   Nomura Global Financial Products, Inc.
BRC   Barclays Bank PLC   GLM   Goldman Sachs Bank USA   SCX   Standard Chartered Bank, London
                     
BSH   Banco Santander S.A. - New York Branch   GST   Goldman Sachs International   SOG   Societe Generale Paris
BYR   The Bank of Nova Scotia - Toronto   IND   Crédit Agricole Corporate and Investment Bank
S.A.		   SSB   State Street Bank and Trust Co.
CBK   Citibank N.A.   JML   JP Morgan Securities Plc   TDM   TD Securities (USA) LLC
CDC   Natixis Securities Americas LLC   JPM   JP Morgan Chase Bank N.A.   UBS   UBS Securities LLC
CEW   Canadian Imperial Bank of Commerce World Markets   MBC   HSBC Bank Plc        
                     
Currency Abbreviations:                
BRL   Brazilian Real   EGP   Egyptian Pound   JPY   Japanese Yen
CAD   Canadian Dollar   EUR   Euro   NGN   Nigerian Naira
COP   Colombian Peso   GBP   British Pound   TRY   Turkish New Lira
DOP   Dominican Peso   HKD   Hong Kong Dollar   USD (or $)   United States Dollar
                     
Exchange Abbreviations:                
CME   Chicago Mercantile Exchange                
                     
Index/Spread Abbreviations:                
ABX.HE   Asset-Backed Securities Index - Home Equity   EUR006M   6 Month EUR Swap Rate   SOFR   Secured Overnight Financing Rate
BISTREFI   Turkish Lira Overnight Reference Rate   FHMMUSTF   Federated Hermes US Treasury Cash Reserves
Fund Yield		   SONIO   Sterling Overnight Interbank Average Rate
BNMMDTSC   Dreyfus Treasury Securites Cash Management Fund Yield   JY0003M   3 Month JPY-LIBOR   TSFR1M   Term SOFR 1-Month
BRMMUSDF   BlackRock Money Market US Treasury Fund Index   NDDUEAFE   MSCI EAFE Index   TSFR3M   Term SOFR 3-Month
CAONREPO   Canadian Overnight Repo Rate Average   PENAAA   Penultimate AAA Sub-Index   TSFR6M   Term SOFR 6-Month
CDOR06   6 month CDN Swap Rate   S&P 500   Standard & Poor's 500 Index   US0003M   ICE 3-Month USD LIBOR
EUR003M   3 Month EUR Swap Rate                
                     
Other  Abbreviations:                
ABS   Asset-Backed Security   DAC   Designated Activity Company   REMIC   Real Estate Mortgage Investment Conduit
ALT   Alternate Loan Trust   EBITDA    Earnings before Interest, Taxes, Depreciation and Amoritization   TBA   To-Be-Announced
BRL-CDI   Brazil Interbank Deposit Rate   EURIBOR   Euro Interbank Offered Rate   TBD   To-Be-Determined
CDO   Collateralized Debt Obligation   OIS   Overnight Index Swap   TBD%   Interest rate to be determined when loan settles or at the time of funding
CLO   Collateralized Loan Obligation   PIK   Payment-in-Kind