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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UMBS, TBA</name>
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          <isin value="US01F0606834"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US01F0626899"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Apogee Therapeutics Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Argent Securities Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Argent Securities Inc.</name>
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        <title>Argent Securities Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ARM Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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            <amtCurSold>364193.00000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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        <units>NC</units>
        <currencyConditional curCd="INR" exchangeRt="94.97150000"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs Bank USA</counterpartyName>
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      <invstOrSec>
        <name>Barclays Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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        <name>Barclays Bank PLC</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>HSBC Bank PLC</name>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Franklin Mtg Loan Asset Backed Certificates</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First NLC Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fremont Home Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gallatin Loan Management, LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Impac CMB Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>iShares Core S&amp;P 500 ETF</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kenvue Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Lehman ABS Manufactured Housing Contract</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Long Beach Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CLARITEV CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Student Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Norfolk Southern Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Nuvalent Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OZLM Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Direct Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Organon &amp; Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OSCAR US Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PIMCO Total Return Fund</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PIMCO PRV SHORT TERM FLT III</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Popular ABS Mortgage Pass-Through Trust</name>
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        <title>Popular ABS Mortgage Pass-Through Trust</title>
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        <name>Qorvo Inc</name>
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        <name>Residential Accredit Loans, Inc.</name>
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        <name>Residential Asset Mortgage Products, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Roku Inc</name>
        <lei>549300KR6ITU0YIR1T71</lei>
        <title>Roku, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>SMB Private Education Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sound Point CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Asset Securities Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UniFirst Corp/MA</name>
        <lei>5493003XBTNWBC8UK019</lei>
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        <name>United States Treasury</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US91282CMM00"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAMU Mortgage Pass-Through Certificates</name>
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          <isin value="US92922FC975"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Warner Bros Discovery Inc</name>
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          <isin value="US9344231041"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Washington Mutual Asset-Backed CTFS</name>
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          <isin value="US93934TAC62"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
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          <isin value="COL17CT02963"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="COL17CT03680"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.25000000</annualizedRt>
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        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
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          <isin value="ES0000012K20"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <name>MEX BONOS DESARR FIX RT</name>
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        <title>Mexico Bonos</title>
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        <fairValLevel>2</fairValLevel>
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        <name>French Republic Government Bonds OAT</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>LETRA TESOURO NACIONAL</name>
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          <isin value="BRSTNCLTN8G4"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LETRA TESOURO NACIONAL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EGYPT GOVERNMENT BOND</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1583.06000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VENTAS INC</othIndName>
                    <identifiers>
                      <other otherDesc="SSM_ID" value="92276F100"/>
                    </identifiers>
                    <othIndNotAmt>580746.44000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>9646.15000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WELLTOWER INC</othIndName>
                    <identifiers>
                      <other otherDesc="SSM_ID" value="95040Q104"/>
                    </identifiers>
                    <othIndNotAmt>654656.60000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>10873.79000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WP CAREY INC</othIndName>
                    <identifiers>
                      <other otherDesc="SSM_ID" value="92936U109"/>
                    </identifiers>
                    <othIndNotAmt>90694.42000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>1506.43000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 day USD SOFR" floatingRtSpread="0.50000000" pmntAmt="6266.42000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">equity-performance leg</otherPmntDesc>
            <terminationDt>2027-06-09</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>9102150.54440000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-151185.96000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>AMZN US TRS EQUITY SOFR+200 *BULLET* FAR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="SWU02QDP9"/>
        </identifiers>
        <balance>17198117.90000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>417591.50000000</valUSD>
        <pctVal>0.124477228607</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Wells Fargo Bank NA</counterpartyName>
              <counterpartyLei>KB1H1DSPRFMYMCUFXT09</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Amazon.com, Inc.</issuerName>
                <issueTitle>Amazon.com, Inc.</issueTitle>
                <identifiers>
                  <cusip value="023135106"/>
                  <isin value="US0231351067"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="1 day USD SOFR" floatingRtSpread="2.00000000" pmntAmt="5369.81000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Day" resetDtUnit="30"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">equity-performance leg</otherPmntDesc>
            <terminationDt>2026-07-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>17198117.90000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-417591.50000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D. This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list. Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-03</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
