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Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund		June 30, 2026 (Unaudited)

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


		PRINCIPAL AMOUNT (000s)		MARKET VALUE (000s)
INVESTMENTS IN SECURITIES 61.5% ¤
CORPORATE BONDS & NOTES 13.5%
BANKING & FINANCE 10.8%
ABN AMRO Bank NV
5.417% due 09/18/2027 •	$		1,000	$	1,003
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.450% due 10/29/2026			200		199
6.450% due 04/15/2027			14,100		14,282
American Honda Finance Corp.
1.300% due 09/09/2026			858		853
4.900% due 03/12/2027			9,440		9,470
American Tower Corp.
1.450% due 09/15/2026			400		398
Aon North America, Inc.
5.125% due 03/01/2027			4,960		4,979
Athene Global Funding
4.587% due 04/19/2027 •			3,000		3,005
Barclays PLC
5.674% due 03/12/2028 •			4,342		4,377
Canadian Imperial Bank of Commerce
4.297% due 06/26/2028 •			2,000		2,001
4.576% (SOFRRATE + 0.940%) due 06/28/2027 ~			1,000		1,006
Citigroup, Inc.
4.658% due 05/24/2028 •			13,200		13,212
Corebridge Financial, Inc.
3.650% due 04/05/2027			8,500		8,446
Crown Castle, Inc.
2.900% due 03/15/2027			1,400		1,385
First Abu Dhabi Bank PJSC
4.789% (SOFRRATE + 1.150%) due 06/03/2031 ~			17,500		17,496
Ford Motor Credit Co. LLC
4.125% due 08/17/2027			600		595
4.271% due 01/09/2027			9,200		9,174
4.950% due 05/28/2027			1,300		1,301
5.800% due 03/05/2027			1,845		1,855
5.850% due 05/17/2027			200		202
Goldman Sachs Group, Inc.
4.937% due 04/23/2028 •			14,100		14,142
HSBC Holdings PLC
4.755% due 06/09/2028 •			5,000		5,007
5.597% due 05/17/2028 •			1,900		1,917
JPMorgan Chase & Co.
4.550% (SOFRRATE + 0.920%) due 04/22/2028 ~			5,000		5,018
Merna Reinsurance II Ltd.
13.991% (GSMMUSTI + 10.470%) due 07/07/2030 ~			300		300
Mizuho Financial Group, Inc.
4.486% (SOFRRATE + 0.850%) due 07/13/2030 ~(a)			14,100		14,107
Morgan Stanley
1.512% due 07/20/2027 •			7,300		7,288
4.210% due 04/20/2028 •			6,400		6,388
Morgan Stanley Private Bank NA
4.403% (SOFRRATE + 0.770%) due 07/06/2028 ~			2,300		2,304
National Bank of Canada
4.665% (SOFRINDX + 1.030%) due 07/02/2027 ~			1,581		1,581
Nationwide Building Society
3.996% due 04/21/2029			14,000		13,883
NatWest Group PLC
3.073% due 05/22/2028 •			3,400		3,357
Wells Fargo & Co.
3.584% due 05/22/2028 •			2,800		2,777
4.900% due 01/24/2028 •			19,800		19,846

					193,154

INDUSTRIALS 2.2%
Cheniere Corpus Christi Holdings LLC
5.125% due 06/30/2027			1,500		1,504
Enbridge, Inc.
5.250% due 04/05/2027			1,100		1,106
Energy Transfer LP
5.500% due 06/01/2027			2,800		2,819
Glencore Funding LLC
4.000% due 03/27/2027			2,100		2,093


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


Hyundai Capital America
4.552% (SOFRRATE + 0.920%) due 01/07/2028 ~		8,740	8,767
4.707% due 09/18/2028 •		1,000	1,005
NPC Ukrenergo
6.875% due 11/09/2028		200	195
NTT Finance Corp.
4.372% due 07/27/2027		400	399
4.465% (SOFRRATE + 0.830%) due 06/20/2029 ~(a)		10,200	10,202
5.104% due 07/02/2027		400	402
Oracle Corp.
2.800% due 04/01/2027		4,900	4,836
QatarEnergy
4.625% due 06/23/2029		5,900	5,864
Zimmer Biomet Holdings, Inc.
4.700% due 02/19/2027		550	551

			39,743

UTILITIES 0.5%
ENEL Finance International NV
1.625% due 07/12/2026		6,600	6,594
Vistra Operations Co. LLC
4.550% due 10/30/2028		2,300	2,285

			8,879

Total Corporate Bonds & Notes (Cost $241,683)			241,776

U.S. GOVERNMENT AGENCIES 8.3%
Federal Home Loan Mortgage Corp. REMICS
4.107% due 11/15/2043 •		394	391
4.114% due 03/15/2037 - 08/15/2042 •		1,577	1,547
4.257% due 01/15/2042 •		107	107
4.549% due 04/15/2049 - 12/15/2050 •		2,770	2,776
4.598% due 08/25/2054 •		2,639	2,660
4.628% due 08/25/2055 •		365	369
4.649% due 08/15/2048 •		1,096	1,106
4.778% due 12/25/2054 •		1,617	1,633
Federal National Mortgage Association REMICS
4.114% due 12/25/2044 •		459	455
4.164% due 03/25/2049 •		355	353
4.192% due 07/25/2049 •		1,284	1,265
4.214% due 07/25/2046 - 09/25/2046 •		1,119	1,114
4.429% due 12/25/2047 •		608	609
4.449% due 01/25/2051 •		1,251	1,256
4.549% due 12/25/2050 •		953	952
4.578% due 01/25/2055 •		431	435
4.598% due 08/25/2054 •		459	462
5.128% due 06/25/2055 •		7,362	7,476
Government National Mortgage Association REMICS
4.111% due 05/20/2059 •		8	8
4.259% due 02/20/2074 - 05/20/2074 •		1,390	1,394
4.261% due 03/20/2061 - 11/20/2069 •		56	55
4.309% due 02/20/2074 •		351	352
4.391% due 03/20/2065 •		71	71
4.399% due 04/20/2074 •		908	915
4.411% due 02/20/2070 •		21	21
4.421% due 12/20/2065 •		48	48
4.459% due 05/20/2074 •		949	961
4.491% due 12/20/2068 •		709	714
4.509% due 07/20/2074 •		1,316	1,336
4.511% due 02/20/2067 •		232	233
4.661% due 09/20/2069 •		956	964
Government National Mortgage Association, TBA
5.500% due 07/01/2056 - 08/01/2056		61,700	61,939
Uniform Mortgage-Backed Security, TBA
5.000% due 07/01/2041		34,100	34,242
5.500% due 08/01/2056		20,600	20,638

Total U.S. Government Agencies (Cost $148,646)			148,857

NON-AGENCY MORTGAGE-BACKED SECURITIES 1.1%
Harvest Funding PLC
4.643% due 11/15/2069 •	GBP	6,200	8,225
OBX Trust
2.305% due 11/25/2061 ~	$	4,968	4,459
Polaris PLC
4.464% due 06/27/2070 •	GBP	5,200	6,883


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


Sequoia Mortgage Trust
4.510% due 11/25/2063 ~	$	578	578

Total Non-Agency Mortgage-Backed Securities (Cost $21,093)			20,145

ASSET-BACKED SECURITIES 8.3%
AUTOMOBILE ABS OTHER 0.3%
SFS Auto Receivables Securitization Trust
4.199% due 10/22/2029 •		4,900	4,906

AUTOMOBILE SEQUENTIAL 0.9%
Carvana Auto Receivables Trust
5.330% due 07/10/2029		283	284
Enterprise Fleet Financing LLC
4.000% due 10/20/2028		5,700	5,678
GM Financial Consumer Automobile Receivables Trust
4.470% due 02/16/2028		76	77
PenFed Auto Receivables Owner Trust
4.320% due 06/15/2029		1,800	1,799
SBNA Auto Lease Trust
4.560% due 02/22/2028		1,481	1,482
SCCU Auto Receivables Trust
4.670% due 11/15/2028		258	258
SFS Auto Receivables Securitization Trust
4.270% due 10/22/2029		4,900	4,898
Stellantis Financial Underwritten Enhanced Lease Trust
4.630% due 07/20/2027		2,359	2,361
Toyota Lease Owner Trust
4.580% due 07/20/2027		64	64

			16,901

CREDIT CARD BULLET 0.9%
CARDS II Trust
4.227% due 04/15/2031 •		6,700	6,723
Evergreen Credit Card Trust
4.219% due 10/15/2029 •		8,900	8,930

			15,653

CREDIT CARD OTHER 0.1%
Trillium Credit Card Trust II
4.218% due 09/26/2030 •		2,000	2,003

HOME EQUITY OTHER 0.0%
RCKT Mortgage Trust
5.582% due 12/25/2044 þ		321	322

OTHER ABS 6.1%
37 Capital CLO 1 Ltd.
4.953% due 10/15/2034 •		1,000	1,001
522 Funding CLO Ltd.
4.866% due 10/23/2034 •		300	300
AMMC CLO 24 Ltd.
4.875% due 01/20/2035 •		1,000	1,000
AMMC CLO 27 Ltd.
4.755% due 01/20/2037 •		2,200	2,201
Anchorage Capital CLO 20 Ltd.
4.775% due 01/20/2035 •		1,000	1,001
Apidos CLO XI
4.920% due 04/17/2034 •		1,000	1,001
ARES European CLO X DAC
2.984% due 10/15/2031 •	EUR	20	23
ARES XXVII CLO Ltd.
4.820% due 10/28/2034 •	$	1,000	1,001
Atlantic Avenue Ltd.
4.935% due 01/20/2035 •		900	901
Atlas Senior Loan Fund XVIII Ltd.
4.785% due 01/18/2035 •		1,000	1,001
Bain Capital Credit CLO Ltd.
4.762% due 10/21/2034 •		1,000	1,001
4.816% due 10/23/2034 •		1,000	1,001
Bain Capital Euro CLO DAC
3.449% due 01/15/2037 •	EUR	7,200	8,240
Bosphorus CLO IX DAC
3.614% due 04/15/2038 •		4,400	5,037
Boyce Park CLO Ltd.
4.672% due 04/21/2035 •	$	2,400	2,402
Canyon CLO Ltd.
4.773% due 10/15/2034 •		500	501


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


CVC Cordatus Loan Fund XXIII DAC
3.066% due 04/25/2036 •	EUR	5,800	6,631
CVC Cordatus Loan Fund XXXI DAC
3.627% due 06/15/2037 •		4,400	5,034
Dryden 95 CLO Ltd.
4.682% due 08/20/2034 •	$	1,100	1,101
Elevation CLO Ltd.
4.955% due 01/25/2035 •		4,600	4,602
Elmwood CLO 15 Ltd.
4.814% due 04/22/2035 •		300	300
Fortress Credit BSL VII Ltd.
4.756% due 07/23/2032 •		59	59
GoldenTree Loan Management U.S. CLO 8 Ltd.
4.825% due 10/20/2034 •		1,000	1,001
Greywolf CLO III Ltd.
4.894% due 04/22/2033 •		518	518
Greywolf CLO IV Ltd.
4.920% due 04/17/2034 •		1,700	1,702
ICG Euro CLO DAC
3.455% (EUR003M + 1.290%) due 01/26/2038 ~	EUR	4,700	5,376
Jamestown CLO XVIII Ltd.
4.937% due 07/25/2035 •	$	1,000	1,001
KKR CLO 27 Ltd.
4.783% due 01/15/2035 •		1,600	1,601
KKR CLO 36 Ltd.
4.823% due 10/15/2034 •		1,200	1,201
KKR CLO 42 Ltd.
4.825% due 07/20/2034 •		1,000	1,001
Madison Park Funding XXXIX Ltd.
4.660% due 10/22/2034 •		3,000	3,001
Mountain View CLO XIV Ltd.
4.832% due 10/15/2034 •		1,000	1,001
Navient Student Loan Trust
4.720% due 12/15/2059 •		157	157
Nelnet Student Loan Trust
4.943% due 05/17/2055 •		2,229	2,238
4.959% due 06/22/2065 •		3,100	3,109
Neuberger Berman Loan Advisers CLO 43Ltd.
4.730% due 07/17/2036 •		1,000	1,001
Neuberger Berman Loan Advisers CLO 45Ltd.
4.729% due 10/14/2036 •		1,000	1,001
Northwoods Capital 25 Ltd.
4.795% due 07/20/2034 •		1,000	1,001
Northwoods Capital XII-B Ltd.
4.854% due 06/15/2031 •		112	112
Palmer Square European Loan Funding DAC
3.150% due 10/15/2035 •	EUR	5,600	6,406
Palmer Square Loan Funding Ltd.
4.470% due 08/08/2032 •	$	4,085	4,087
4.493% due 10/15/2032 •		900	900
4.493% due 01/15/2033 •		5,147	5,144
Pikes Peak CLO 2
4.895% due 10/11/2034 •		1,000	1,001
Pikes Peak CLO 4
4.883% due 07/15/2034 •		1,000	1,001
Riserva CLO Ltd.
4.725% due 01/18/2034 •		2,746	2,747
SLM Private Credit Student Loan Trust
4.166% due 12/16/2041 •		166	164
4.216% due 06/15/2039 •		349	342
4.236% due 12/15/2038 •		181	178
4.256% due 06/15/2039 •		323	319
SLM Student Loan Trust
4.192% due 06/25/2043 •		352	348
SoFi Professional Loan Program LLC
2.540% due 05/15/2046		97	94
Symphony CLO XXII Ltd.
4.855% due 04/18/2033 •		462	463
Tikehau CLO X DAC
3.483% due 04/20/2038 •	EUR	4,900	5,607
Tralee CLO V Ltd.
4.755% due 10/20/2034 •	$	1,000	1,001
Trimaran CAVU Ltd.
4.687% due 10/25/2034 •		4,200	4,201
Trinitas CLO XIX Ltd.
4.785% due 10/20/2033 •		652	652
Venture 44 CLO Ltd.
4.815% due 10/20/2034 •		1,000	1,001
Wellfleet CLO Ltd.
4.855% due 04/20/2034 •		500	501


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


Wind River CLO Ltd.
4.785% due 07/20/2034 •		1,100	1,101

			108,619

Total Asset-Backed Securities (Cost $149,140)			148,404

SOVEREIGN ISSUES 0.2%
Brazil Letras do Tesouro Nacional
0.000% due 04/01/2027 (c)	BRL	17,600	3,098

Total Sovereign Issues (Cost $3,071)			3,098

		SHARES

COMMON STOCKS 4.4%
INFORMATION TECHNOLOGY 4.4%
Apple, Inc.		137,776	39,867
NVIDIA Corp.		196,145	39,247

Total Common Stocks (Cost $80,358)			79,114

		OUNCES
COMMODITIES 0.0%
Gold Warehouse Receipts		142	570

Total Commodities (Cost $230)			570

SHORT-TERM INSTRUMENTS 25.7%
COMMERCIAL PAPER 13.5%
Alimentation Couche-Tard, Inc.
4.010% due 07/14/2026	$	6,100	6,090
AMETEK, Inc.
4.040% due 07/07/2026		3,700	3,697
4.100% due 08/10/2026		2,800	2,787
Autoliv, Inc.
4.070% due 08/25/2026		800	795
Bacardi-Martini BV
4.350% due 07/23/2026		1,000	997
Banco de Credito e Inversiones SA
4.000% due 08/24/2026		3,800	3,777
4.030% due 08/20/2026		3,500	3,480
4.050% due 09/03/2026		6,700	6,651
Banco Itau Chile
4.060% due 10/06/2026		2,200	2,176
Brookfield Corporate Treasury Ltd.
4.000% due 07/30/2026		600	598
4.010% due 07/29/2026		3,700	3,688
4.030% due 07/31/2026		3,500	3,488
Campbell’s Co.
4.270% due 09/30/2026		600	594
CBRE Services, Inc.
4.040% due 07/15/2026		2,600	2,596
4.050% due 07/15/2026		3,700	3,694
4.050% due 07/17/2026		6,800	6,787
Entergy Corp.
4.050% due 08/27/2026		300	298
4.050% due 08/28/2026		1,700	1,689
4.050% due 09/01/2026		1,000	993
4.050% due 09/11/2026		1,700	1,686
4.060% due 08/18/2026		1,600	1,591
4.060% due 08/24/2026		400	398
4.060% due 09/09/2026		2,100	2,083
4.060% due 09/10/2026		2,400	2,380
4.070% due 08/20/2026		1,300	1,293
4.070% due 09/08/2026		800	794
4.120% due 09/03/2026		300	298
Equifax, Inc.
4.060% due 07/24/2026		1,500	1,496
4.140% due 07/30/2026		5,300	5,282
ERAC USA Finance LLC
4.000% due 07/10/2026		5,600	5,594
Evergy Missouri West, Inc.
4.230% due 07/01/2026		2,400	2,400
Fidelity National Information Services, Inc.
4.000% due 07/07/2026		8,300	8,294
4.000% due 07/08/2026		2,900	2,897
4.000% due 07/09/2026		16,200	16,184


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


4.000% due 07/10/2026	5,100	5,094
4.000% due 07/13/2026	3,845	3,840
4.000% due 07/14/2026	3,700	3,694
4.000% due 07/16/2026	3,900	3,893
4.000% due 07/17/2026	4,700	4,691
4.000% due 07/21/2026	2,400	2,394
4.020% due 07/07/2026	1,000	999
HCA, Inc.
4.300% due 09/10/2026	1,800	1,784
4.330% due 07/27/2026	11,600	11,563
4.350% due 09/09/2026	800	793
Jabil, Inc.
4.150% due 07/06/2026	7,100	7,095
4.150% due 07/31/2026	1,700	1,694
4.150% due 08/07/2026	4,200	4,181
4.150% due 08/18/2026	5,500	5,468
Jones Lang LaSalle Finance BV
4.010% due 07/07/2026	300	300
4.010% due 07/09/2026	800	799
4.120% due 07/14/2026	2,800	2,796
4.130% due 07/09/2026	300	300
Keurig Dr. Pepper, Inc.
4.300% due 07/01/2026	3,000	3,000
4.300% due 07/06/2026	1,800	1,799
4.350% due 07/17/2026	4,300	4,291
4.350% due 07/22/2026	3,400	3,391
4.370% due 07/13/2026	4,500	4,493
4.400% due 07/15/2026	7,500	7,487
4.400% due 07/29/2026	1,700	1,694
Lseg U.S. Fin Corp.
4.000% due 09/01/2026	600	596
4.020% due 09/02/2026	1,500	1,489
McCormick & Co., Inc.
4.000% due 07/02/2026	2,500	2,499
4.000% due 07/06/2026	1,400	1,399
NextEra Energy Capital Holdings, Inc.
4.000% due 07/22/2026	7,200	7,182
O’Reilly Automotive, Inc.
4.000% due 07/17/2026	1,900	1,896
4.000% due 07/20/2026	1,000	998
Oglethorpe Power Corp.
4.020% due 07/13/2026	3,800	3,795
4.030% due 07/10/2026	2,300	2,298
4.050% due 07/07/2026	4,200	4,197
Penske Truck Leasing Co. LP
4.060% due 07/29/2026	1,700	1,694
Rogers Communications, Inc.
4.250% due 08/06/2026	4,200	4,182
4.260% due 07/30/2026	900	897
Southern California Edison Co.
4.380% due 07/13/2026	300	300
TELUS Corp.
4.250% due 09/08/2026	600	595
4.280% due 09/24/2026	2,300	2,276
Thomson Reuters Corp.
4.040% due 07/07/2026	1,700	1,699
TR Finance LLC
4.060% due 07/09/2026	3,800	3,796
4.080% due 07/08/2026	2,300	2,298
Triton Container International Ltd./TAL International Container Corp.
4.310% due 07/07/2026	300	300
4.310% due 07/09/2026	400	400
4.330% due 07/06/2026	1,700	1,699
4.330% due 07/08/2026	300	300
WRKCo, Inc.
4.040% due 07/06/2026	900	899

		242,762


REPURCHASE AGREEMENTS (d) 9.7%		173,900

U.S. TREASURY BILLS 2.5%
3.695% due 07/02/2026 - 09/24/2026 (b)(c)(f)(h)	45,858	45,677


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


Total Short-Term Instruments (Cost $462,362)			462,339

Total Investments in Securities (Cost $1,106,583)			1,104,303

	SHARES

INVESTMENTS IN AFFILIATES 34.8%
SHORT-TERM INSTRUMENTS 34.8%

CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 34.8%
PIMCO Short Asset Portfolio	63,492,849		625,404
PIMCO Short-Term Floating NAV Portfolio III	6,439		63

Total Short-Term Instruments (Cost $614,999)			625,467

Total Investments in Affiliates (Cost $614,999)			625,467

Total Investments 96.3% (Cost $1,721,582)		$	1,729,770
Financial Derivative Instruments (e)(g) 1.4% (Cost or Premiums, net $62,980)			24,684
Other Assets and Liabilities, net 2.3%			41,617

Net Assets 100.0%		$	1,796,071


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)

NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:

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

¤	The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security’s country of incorporation may be different from its country of economic exposure.

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)

When-issued security.

(b)

Coupon represents a weighted average yield to maturity.

(c)

Zero coupon security.

BORROWINGS AND OTHER FINANCING TRANSACTIONS

(d) REPURCHASE AGREEMENTS:


Counterparty	Lending Rate			Settlement Date		Maturity Date	Principal Amount		Collateralized By	Collateral (Received)			Repurchase Agreements, at Value		Repurchase Agreement Proceeds to be Received⁽¹⁾
BPS		3.690	%		06/30/2026	07/01/2026	$	76,600	U.S. Treasury Inflation-Indexed Notes 1.875% due 07/15/2035	$	(77,789	)	$	76,600	$	76,608
FICC STR		3.620			06/30/2026	07/01/2026		2,300	U.S. Treasury Notes 3.750% due 05/15/2028		(2,346	)		2,300		2,300
		3.640			06/30/2026	07/01/2026		17,200	U.S. Treasury Bonds 4.750% due 02/15/2045		(17,544	)		17,200		17,202
JPS		3.720			06/30/2026	07/01/2026		77,800	U.S. Treasury Notes 4.000% due 02/28/2030		(79,272	)		77,800		77,808

Total Repurchase Agreements										$	(176,951	)	$	173,900	$	173,918

SHORT SALES:


Description	Coupon			Maturity Date		Principal Amount		Proceeds			Payable for Short Sales
U.S. Government Agencies (4.3)%
Uniform Mortgage-Backed Security, TBA		5.000	%		07/01/2041	$	56,900	$	(56,956	)	$	(57,138	)
Uniform Mortgage-Backed Security, TBA		5.500			09/01/2056		20,600		(20,497	)		(20,622	)

Total Short Sales (4.3)%								$	(77,453	)	$	(77,760	)

⁽¹⁾	Includes accrued interest.

The average amount of borrowings outstanding during the period ended June 30, 2026 was $(29,773) at a weighted average interest rate of 4.017%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.

(e)

FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

FUTURES CONTRACTS:

LONG FUTURES CONTRACTS


									Variation Margin⁽¹⁾
Description	Expiration Month	# of Contracts		Notional Amount		Unrealized Appreciation/ (Depreciation)			Asset		Liability
3 Month Euro Euribor Futures	12/2027		254	$	70,709	$	0		$	0	$	0
Carbon Emissions Futures	12/2026		485		44,422		573			765		(831	)
CBOT 2 Year U.S. Treasury Notes Futures	09/2026		667		137,491		(79	)		0		(78	)
CBOT Soybean Futures	11/2026		728		41,633		(1,544	)		173		0
CBOT Soybean Oil Futures	12/2026		134		5,254		(425	)		0		(105	)
CBOT Wheat Futures	09/2026		229		6,747		(534	)		109		0
CME E-mini NASDAQ 100 Index Futures	09/2026		72		43,954		806			678		0
CME E-mini Russell 2000 Index Futures	09/2026		137		20,862		458			103		0
CME E-mini S&P 500 Index Futures	09/2026		27		10,190		67			65		0
CME Live Cattle Futures	10/2026		39		3,692		(63	)		0		(11	)
Eurex DAX Index Futures	09/2026		12		8,616		(28	)		117		(15	)
Eurex EURO STOXX Banks Index Futures	09/2026		1,804		30,336		794			330		(52	)
Eurex Short-term Euro-BTP Futures	09/2026		1,097		134,180		(5	)		1		(7	)
Euro-BTP Italian Bond Futures	09/2026		154		21,001		77			0		(11	)
Euronext CAC 40 Index Futures	07/2026		102		9,801		(50	)		47		(25	)
Euronext Milling Wheat Futures	09/2026		214		2,470		(157	)		0		(9	)
French Government Bond Futures	09/2026		65		8,911		(10	)		0		(16	)


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


FTSE 100 Index Futures	09/2026	262	36,635		26			28		(63	)
FTSE MIB Index Futures	09/2026	80	23,711		(171	)		233		(50	)
ICE Gas Oil Futures	09/2026	84	7,415		(899	)		147		0
ICE Natural Gas Futures	07/2026	155	6,657		247			424		0
ICE Rotterdam Monthly Coal Futures	10/2026	28	3,130		(55	)		60		0
ICE Rotterdam Monthly Coal Futures	11/2026	28	3,144		(41	)		70		0
ICE Rotterdam Monthly Coal Futures	12/2026	28	3,158		(27	)		71		0
KCBT Hard Red Winter Wheat Futures	09/2026	671	20,977		(1,884	)		352		0
LME Lead Futures	08/2026	538	24,991		(2,026	)		1,114		0
LME Nickel Futures	08/2026	415	40,321		(7,645	)		93		0
LME Primary Aluminum Futures	08/2026	606	46,712		(6,604	)		0		(248	)
LME Zinc Futures	08/2026	429	38,427		2,519			2,520		0
MEFF Madrid IBEX 35 Index Futures	07/2026	138	30,584		685			95		(49	)
Montreal Exchange 10 Year Canadian Bond Futures	09/2026	128	10,930		105			0		0
Montreal Exchange S&P/TSX 60 Index Futures	09/2026	123	35,657		45			35		0
NYBOT CTN Number 2 Cotton Futures	12/2026	273	10,483		(862	)		48		0
NYMEX Henry Hub Natural Gas Futures	08/2026	193	6,164		7			127		0
NYMEX Light Sweet Crude Oil Futures	08/2026	15	1,039		(237	)		0		(17	)
NYMEX NY Harbor ULSD Futures	09/2026	18	2,344		(284	)		32		0
NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Futures	09/2026	163	16,916		(1,641	)		0		(85	)
OML Stockholm OMXS30 Index Futures	07/2026	1,590	52,752		597			1,017		0
Phelix DE Base Quarter Futures	09/2026	42	12,262		245			391		0
SFE 10 Year Australian Bond Futures	09/2026	764	58,089		310			85		(85	)
SFE 3 Year Australian Bond Futures	09/2026	1,304	94,430		339			52		(78	)
SFE S&P ASX Share Price Index 200 Futures	09/2026	100	15,190		(257	)		111		(80	)
SGX FTSE China A50 Futures Contract	07/2026	4,431	68,743		455			598		0
SGX FTSE Taiwan Index Futures	07/2026	185	29,918		42			783		0
SGX MSCI Singapore Index Futures	07/2026	1,294	47,854		(233	)		410		(60	)
SGX Nikkei 225 Stock Index Futures	09/2026	89	19,236		1,728			167		(27	)
Three Month SONIA Index Futures	03/2027	463	147,418		(166	)		0		(15	)
Three Month SONIA Index Futures	12/2027	120	38,194		14			0		(18	)
TSE TOPIX Futures	09/2026	160	39,391		1,427			216		0
TTF Natural Gas Base Load Monthly Futures	08/2026	180	6,466		(355	)		382		0
Ultra 10 Year U.S. Treasury Notes Futures	09/2026	284	31,941		438			0		(111	)
White Sugar Futures	07/2026	441	10,465		273			22		0
WSE WIG20 Index Futures	09/2026	885	16,793		(524	)		160		(110	)

				$	(14,529	)	$	12,231	$	(2,256	)

SHORT FUTURES CONTRACTS


										Variation Margin⁽¹⁾
Description	Expiration Month	# of Contracts		Notional Amount			Unrealized Appreciation/ (Depreciation)			Asset		Liability
CBOE Volatility Index Futures	07/2026		1,192	$	(21,397	)	$	3,201		$	554	$	0
CBOT 5 Year U.S. Treasury Notes Futures	09/2026		417		(44,639	)		(51	)		78		0
CBOT Corn Futures	09/2026		2,201		(45,863	)		917			0		(720	)
CBOT Soybean Meal Futures	12/2026		593		(17,974	)		(67	)		0		(18	)
CME Bitcoin Futures	07/2026		52		(15,314	)		905			430		0
CME Lean Hogs Futures	10/2026		498		(16,334	)		847			0		(95	)
Cocoa Futures	09/2026		70		(3,544	)		(857	)		89		(86	)
COMEX Copper Futures	09/2026		110		(17,199	)		168			0		(249	)
COMEX Gold 100 Troy Ounces Futures	08/2026		111		(44,827	)		2,663			4		0
COMEX Silver Futures	09/2026		55		(16,479	)		663			0		(355	)
Eurex Short-term Euro-BTP Futures	09/2026		275		(33,637	)		(68	)		0		0
HKG Hang Seng China Enterprises Index Futures	07/2026		1,049		(50,378	)		1,129			308		(936	)
HKG Hang Seng Index Futures	07/2026		318		(46,318	)		844			223		(498	)
ICE Brent Crude Oil Futures	09/2026		49		(3,574	)		11			33		0
ICE Gas Oil Futures	08/2026		43		(3,917	)		457			0		(88	)
IFSC NIFTY 50 Index Futures	07/2026		258		(12,386	)		69			0		(24	)
LME Lead Futures	08/2026		1,315		(61,083	)		2,455			0		0
LME Nickel Futures	08/2026		729		(70,828	)		2,326			0		0
LME Primary Aluminum Futures	08/2026		581		(44,785	)		1,757			0		0
LME Zinc Futures	09/2026		92		(8,207	)		(203	)		0		(203	)
NYBOT CSC C Coffee Futures	12/2026		367		(38,824	)		(2,592	)		0		(2,498	)
NYBOT CSC Cocoa Futures	09/2026		47		(2,387	)		(512	)		0		(52	)
NYBOT CSC Number 11 World Sugar Futures	09/2026		2,733		(45,363	)		227			0		(122	)
NYMEX Henry Hub Natural Gas Futures	09/2026		100		(3,213	)		47			0		(55	)
NYMEX Palladium Futures	09/2026		249		(30,151	)		2,734			274		0
NYMEX Platinum Futures	10/2026		262		(20,512	)		2,721			347		0
Robusta Coffee Futures 10-Tonne	09/2026		4		(146	)		(15	)		0		(4	)
SAFEX FTSE/JSE Top 40 Index Futures	09/2026		377		(23,617	)		303			72		(52	)
SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Index Futures	08/2026		8,672		(85,835	)		621			0		(251	)
Three-Month SOFR Futures	12/2027		2,365		(567,748	)		(221	)		237		0
VSTOXX Futures	07/2026		1,823		(3,666	)		362			260		0

							$	20,841		$	2,909	$	(6,306	)

Total Futures Contracts							$	6,312		$	15,140	$	(8,562	)


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)

SWAP AGREEMENTS:

CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION⁽²⁾


																Variation Margin
Index/Tranches	Fixed (Pay) Rate			Payment Frequency	Maturity Date		Notional Amount⁽⁴⁾		Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)			Market Value⁽⁵⁾		Asset		Liability
CDX.EM-44 5-Year Index		(1.000	)%	Quarterly		12/20/2030	$	117,420	$	2,145	$	(1,849	)	$	296	$	0	$	(9	)

CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION⁽³⁾


																		Variation Margin⁽¹⁾
Index/Tranches	Fixed Receive Rate			Payment Frequency		Maturity Date		Notional Amount⁽⁴⁾		Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)		Market Value⁽⁵⁾			Asset		Liability
CDX.EM-45 5-Year Index		1.000	%		Quarterly		06/20/2031	$	373,600	$	(9,815	)	$	3,310	$	(6,505	)	$	102	$	0
CDX.HY-46 5-Year Index		5.000			Quarterly		06/20/2031		62,667		4,859			279		5,138			0		(32	)
CDX.IG-46 5-Year Index		1.000			Quarterly		06/20/2031		570,200		12,405			256		12,661			0		(70	)
CDX.iTraxx Crossover 45 5-Year Index		5.000			Quarterly		06/20/2031	EUR	60,931		6,715			1,005		7,720			141		0
CDX.iTraxx Main 45 5-Year Index		1.000			Quarterly		06/20/2031		503,700		12,837			214		13,051			134		0

										$	27,001		$	5,064	$	32,065		$	377	$	(102	)

INTEREST RATE SWAPS


																				Variation Margin⁽¹⁾
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⁽⁶⁾	1-Day GBP-SONIO Compounded-OIS		3.500	%	Annual		09/16/2028		GBP	39,500	$	(626	)	$	91		$	(535	)	$	0	$	(38	)
Receive⁽⁶⁾	1-Day GBP-SONIO Compounded-OIS		4.000		Annual		09/16/2036			82,300		3,523			(329	)		3,194			216		0
Pay⁽⁶⁾	1-Day GBP-SONIO Compounded-OIS		4.500		Annual		09/16/2056			49,200		(3,276	)		304			(2,972	)		0		(254	)
Receive⁽⁶⁾	1-Day INR-MIBOR Compounded-OIS		6.250		Semi-Annual		09/16/2031		INR	11,977,700		215			(442	)		(227	)		0		(150	)
Receive⁽⁶⁾	1-Day JPY-MUTKCALM Compounded-OIS		2.000		Annual		09/16/2036		JPY	4,697,200		408			1,020			1,428			149		0
Receive⁽⁶⁾	1-Day JPY-MUTKCALM Compounded-OIS		2.750		Annual		09/16/2056			11,582,700		6,371			2,511			8,882			1,194		0
Pay⁽⁶⁾	1-Day SGD-SIBCSORA Compounded-OIS		1.750		Semi-Annual		09/16/2031		SGD	99,300		(86	)		(293	)		(379	)		0		(13	)
Receive⁽⁶⁾	1-Day SGD-SIBCSORA Compounded-OIS		2.000		Semi-Annual		09/16/2031			115,200		608			(1,228	)		(620	)		15		0
Receive⁽⁶⁾	1-Day THB-THOR Compounded-OIS		1.500		Quarterly		09/16/2031		THB	1,571,700		844			(553	)		291			40		0
Receive⁽⁶⁾	1-Day USD-SOFR Compounded-OIS		3.650		Annual		09/11/2027		$	102,700		165			267			432			43		0
Receive⁽⁶⁾	1-Day USD-SOFR Compounded-OIS		3.000		Annual		09/16/2028			917,000		16,584			1,081			17,665			928		0
Receive⁽⁶⁾	1-Day USD-SOFR Compounded-OIS		3.250		Annual		09/16/2031			87,900		1,976			652			2,628			246		0
Pay⁽⁶⁾	1-Day USD-SOFR Compounded-OIS		3.750		Annual		09/16/2036			126,000		(2,897	)		(18	)		(2,915	)		0		(656	)
Pay⁽⁶⁾	1-Day USD-SOFR Compounded-OIS		4.000		Annual		09/16/2056			33,497		(1,351	)		253			(1,098	)		0		(367	)
Pay	1-Year BRL-CDI		12.800		Maturity		01/02/2031		BRL	327,900		(30	)		(2,158	)		(2,188	)		187		0
Receive	1-Year BRL-CDI		12.975		Maturity		01/02/2031			961,700		2,844			2,265			5,109			0		(545	)
Pay	1-Year BRL-CDI		13.000		Maturity		01/02/2031			86,000		0			(488	)		(488	)		49		0
Pay	1-Year BRL-CDI		13.172		Maturity		01/02/2031			79,900		(50	)		(272	)		(322	)		45		0
Pay	1-Year BRL-CDI		13.180		Maturity		01/02/2031			590,800		(807	)		(1,544	)		(2,351	)		333		0
Receive	1-Year BRL-CDI		13.328		Maturity		01/02/2031			168,200		0			637			637			0		(95	)
Pay	1-Year BRL-CDI		13.370		Maturity		01/02/2031			15,600		25			(80	)		(55	)		9		0
Receive	1-Year BRL-CDI		13.885		Maturity		01/02/2031			280,000		0			148			148			0		(156	)
Receive	1-Year BRL-CDI		14.020		Maturity		01/02/2031			355,600		309			(347	)		(38	)		0		(198	)
Receive	1-Year BRL-CDI		14.684		Maturity		01/02/2031			209,100		0			(650	)		(650	)		0		(115	)
Receive⁽⁶⁾	3-Month AUD-BBR-BBSW		4.250		Quarterly		09/16/2028		AUD	648,200		773			417			1,190			128		0
Pay⁽⁶⁾	3-Month AUD-BBR-BBSW		5.000		Semi-Annual		09/16/2036			147,200		(364	)		1,779			1,415			0		(12	)
Pay⁽⁶⁾	3-Month CNY-CNREPOFIX		1.500		Quarterly		09/16/2031		CNY	1,409,000		(845	)		1,212			367			0		(103	)


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


Receive	3-Month COP-IBR Compounded-OIS	9.110	Quarterly	12/17/2030	COP	114,526,600		0			1,343			1,343			0		(2	)
Receive	3-Month COP-IBR Compounded-OIS	10.670	Quarterly	03/18/2031		58,306,900		500			(793	)		(293	)		0		(6	)
Receive	3-Month COP-IBR Compounded-OIS	11.720	Quarterly	06/17/2031		226,129,200		(545	)		(3,391	)		(3,936	)		0		(34	)
Receive⁽⁶⁾	3-Month HKD-HIBOR	2.750	Quarterly	09/16/2031	HKD	1,036,400		3,469			208			3,677			0		(256	)
Pay	3-Month ILS-TELBOR	3.250	Annual	06/17/2031	ILS	402,700		407			339			746			0		(211	)
Receive⁽⁶⁾	3-Month KRW-KORIBOR	3.500	Quarterly	09/16/2031	KRW	62,334,900		(306	)		1,064			758			0		(81	)
Receive⁽⁶⁾	3-Month MYR-KLIBOR	3.500	Quarterly	09/16/2031	MYR	764,400		99			542			641			391		0
Pay	3-Month PLN-WIBOR	3.952	Annual	07/29/2030	PLN	26,635		(14	)		168			154			13		0
Pay	3-Month PLN-WIBOR	3.750	Annual	06/17/2031		285,100		(817	)		93			(724	)		104		(8	)
Receive⁽⁶⁾	3-Month TWD-TAIBOR	2.250	Quarterly	09/16/2031	TWD	1,506,800		(44	)		(205	)		(249	)		44		0
Receive	3-Month ZAR-JIBAR	7.180	Quarterly	12/04/2030	ZAR	130,100		(125	)		174			49			29		0
Receive	3-Month ZAR-JIBAR	6.522	Quarterly	01/29/2031		3,116,800		8,343			(2,145	)		6,198			701		0
Receive	3-Month ZAR-JIBAR	7.520	Quarterly	04/02/2031		291,700		(177	)		33			(144	)		68		0
Pay	3-Month ZAR-JIBAR	6.673	Quarterly	04/14/2031		3,052,400		(7,399	)		2,175			(5,224	)		0		(702	)
Receive	6-Month CLP-CHILIBOR	5.060	Semi-Annual	03/18/2031	CLP	1,649,500		0			(30	)		(30	)		0		0
Receive	6-Month CLP-CHILIBOR	5.000	Semi-Annual	06/17/2031		80,353,900		403			(1,508	)		(1,105	)		0		0
Receive	6-Month CLP-CHILIBOR	5.150	Semi-Annual	06/17/2031		17,728,300		19			(394	)		(375	)		0		0
Pay	6-Month CLP-CHILIBOR	5.000	Semi-Annual	09/16/2031		180,746,000		1,729			434			2,163			47		0
Receive⁽⁶⁾	6-Month CZK-PRIBOR	4.130	Annual	07/20/2031	CZK	722,500		552			(564	)		(12	)		42		0
Pay	6-Month CZK-PRIBOR	4.130	Annual	10/01/2035		311,900		321			(72	)		249			0		(19	)
Receive	6-Month CZK-PRIBOR	4.000	Annual	06/17/2036		745,200		401			204			605			41		0
Receive⁽⁶⁾	6-Month EUR-EURIBOR	2.250	Annual	09/16/2028	EUR	277,400		1,669			1,271			2,940			142		0
Pay⁽⁶⁾	6-Month EUR-EURIBOR	2.750	Annual	09/16/2036		107,300		(2,415	)		480			(1,935	)		0		(125	)
Pay⁽⁶⁾	6-Month EUR-EURIBOR	3.000	Annual	09/16/2056		30,900		(546	)		(13	)		(559	)		0		(41	)
Pay	6-Month HUF-BBR	5.750	Annual	06/17/2031	HUF	15,919,300		1,744			298			2,042			0		(80	)
Pay	28-Day MXN-TIIE	7.623	Lunar	03/12/2031	MXN	291,300		221			(230	)		(9	)		0		(59	)
Pay	28-Day MXN-TIIE	8.000	Lunar	06/11/2031		284,300		225			(1	)		224			0		(61	)
Pay	28-Day MXN-TIIE	8.300	Lunar	06/11/2031		158,800		111			129			240			0		(34	)
Receive⁽⁶⁾	28-Day MXN-TIIE	7.750	Lunar	09/10/2031		566,400		(7	)		39			32			39		0
Pay	28-Day MXN-TIIE	8.071	Lunar	09/05/2035		1,061,900		1,147			(1,151	)		(4	)		0		(416	)
Receive	28-Day MXN-TIIE	8.250	Lunar	03/05/2036		796,400		232			(710	)		(478	)		324		0
Pay	28-Day MXN-TIIE	8.500	Lunar	06/04/2036		245,600		428			(55	)		373			0		(102	)
Receive⁽⁶⁾	CAONREPO	2.500	Semi-Annual	09/16/2028	CAD	100,300		445			(156	)		289			11		0
Pay⁽⁶⁾	CAONREPO	2.750	Semi-Annual	09/16/2031		33,000		(143	)		0			(143	)		0		(9	)
Pay⁽⁶⁾	CAONREPO	3.000	Semi-Annual	09/16/2036		190,400		(2,457	)		638			(1,819	)		0		(57	)
Receive⁽⁶⁾	CAONREPO	3.250	Semi-Annual	09/16/2056		6,900		220			(36	)		184			5		0
Pay	CPURNSA	2.500	Maturity	03/29/2033	$	86,600		(258	)		(867	)		(1,125	)		0		(67	)
Receive	CPURNSA	2.525	Maturity	06/07/2033		21,100		121			71			192			14		0
Receive	CPURNSA	2.595	Maturity	07/12/2033		65,500		0			77			77			45		0
Pay	CPURNSA	0.000	Maturity	04/10/2034		50,900		358			(116	)		242			0		(40	)

							$	32,224		$	1,578		$	33,802		$	5,642	$	(5,111	)

Total Swap Agreements							$	61,370		$	4,793		$	66,163		$	6,019	$	(5,222	)

(f)

Securities with an aggregate market value of $13,155 and cash of $191,881 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of June 30, 2026.

⁽¹⁾	Unsettled variation margin asset of $137 and liability of $(3,966) for closed futures and unsettled variation margin asset of $294 and liability of $(175) for closed swap agreements is outstanding at period end.

⁽²⁾

If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive 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.

⁽³⁾

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.

⁽⁴⁾	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.

⁽⁵⁾

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.

⁽⁶⁾	This instrument has a forward starting effective date.

(g)

FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)

FORWARD FOREIGN CURRENCY CONTRACTS:


									Unrealized Appreciation/ (Depreciation)
Counterparty	Settlement Month		Currency to be Delivered			Currency to be Received			Asset		Liability
AZD		07/2026		AUD	1,845		$	1,272	$	0	$	(5	)
		07/2026		CAD	90			63		0		0
		07/2026		NZD	18,600			10,985		421		0
		07/2026		$	38,793		AUD	54,472		0		(1,079	)
		07/2026			9,432		NZD	16,697		51		0
		08/2026		NZD	16,697		$	9,443		0		(51	)
		08/2026		$	1,271		AUD	1,845		5		0
		08/2026			63		CAD	90		0		0
BOA		07/2026		JPY	1,086,327		$	6,830		148		0
		07/2026		KRW	6,592,793			4,329		67		0
		07/2026		NOK	10,964			1,184		77		0
		07/2026		SGD	17			13		0		0
		08/2026		$	12		HKD	94		0		0
		08/2026			15,235		ILS	45,303		4		0
		09/2026		CAD	91,266		$	66,000		1,432		0
		09/2026		COP	6,918,239			1,762		0		(226	)
		09/2026		CZK	237,140			11,100		0		(71	)
		09/2026		HUF	7			0		0		0
		09/2026		ILS	130,770			43,800		0		(228	)
		09/2026		JPY	18,198,808			114,700		2,089		0
		09/2026		NZD	20,250			11,451		0		(79	)
		09/2026		PHP	3,499,074			56,742		0		(6	)
		09/2026		$	3		COP	12,999		0		0
		09/2026			2,663		HKD	20,818		0		(1	)
		09/2026			21,990		PLN	80,483		0		(596	)
		09/2026			49,420		ZAR	804,496		0		(608	)
BPS		07/2026		BRL	65,549		$	12,663		0		(35	)
		07/2026		JPY	3,671,926			23,094		510		0
		07/2026		$	12,692		BRL	65,549		6		0
		07/2026			11,678		CNH	79,027		0		(41	)
		07/2026			14,522		CZK	302,216		0		(294	)
		07/2026			98		TWD	3,087		0		(1	)
		08/2026			4,811		BRL	24,504		0		(101	)
		09/2026		AUD	189,400		$	132,003		1,233		(184	)
		09/2026		BRL	493,916			93,300		0		(662	)
		09/2026		CHF	128,747			164,500		3,825		0
		09/2026		CLP	41,612,575			45,220		46		(7	)
		09/2026		CNH	335,087			49,500		0		(98	)
		09/2026		CZK	403,489			19,068		68		(8	)
		09/2026		EUR	148,125			170,785		1,114		(111	)
		09/2026		GBP	119,982			158,769		0		(380	)
		09/2026		HUF	11,363,672			36,071		0		(323	)
		09/2026		IDR	189,467,445			10,426		0		(90	)
		09/2026		ILS	40,512			13,700		60		0
		09/2026		INR	1,722,484			18,100		7		0
		09/2026		JPY	10,104,611			62,900		374		0
		09/2026		KRW	26,361,605			17,300		240		0
		09/2026		NOK	1,697,046			175,800		4,621		(84	)
		09/2026		NZD	125,750			71,989		498		(111	)
		09/2026		PLN	314,216			84,463		944		(5	)
		09/2026		SEK	859,481			89,956		1,126		(183	)
		09/2026		THB	1,613,652			49,195		316		0
		09/2026		TWD	930,054			29,100		0		(20	)
		09/2026		$	17,000		COP	61,748,678		745		0
		09/2026			2,695		HKD	21,083		0		0
		09/2026			10,900		IDR	195,353,480		0		(57	)
		09/2026			9,939		INR	947,287		11		0
		09/2026			29,400		PHP	1,776,206		0		(594	)
		09/2026			7,400		PLN	27,799		0		(11	)
		09/2026		ZAR	217,587		$	13,136		0		(66	)
		04/2027		BRL	17,600			3,182		0		(29	)
BRC		07/2026		COP	4,065,642			1,181		0		(2	)
		07/2026		NZD	27,017			15,977		633		0
		07/2026		TRY	3,375			71		0		0
		07/2026		$	1,071		COP	4,065,642		112		0
		07/2026			21		JPY	3,424		0		0
		07/2026			42,218		MYR	171,465		0		(244	)
		07/2026			4,988		ZAR	81,016		0		(50	)
		08/2026		JPY	3,415		$	21		0		0
		09/2026		CZK	211,563			9,900		0		(66	)
		09/2026		MXN	7,220			414		4		0
		09/2026		MYR	236,733			58,300		193		0
		09/2026		SGD	7,916			6,215		64		0
		09/2026		$	36,232		CNH	243,462		0		(196	)
		09/2026			1,166		COP	4,065,642		2		0
		09/2026			1,070		HKD	8,368		0		(1	)
		09/2026			576		IDR	10,515,476		8		0
		09/2026			36		PLN	136		0		0


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


	09/2026		2,058	SGD	2,643	0	(5	)
CBK	07/2026	PLN	20,488	$	5,607	161	0
	07/2026	$	1,476	HUF	453,561	1	(21	)
	07/2026		35	TWD	1,106	0	0
	08/2026	INR	3,588,313	$	38,280	497	0
	08/2026	$	40,669	ILS	118,350	0	(860	)
	09/2026	CAD	81,222	$	58,500	1,038	0
	09/2026	CLP	29,873,536		32,380	0	(56	)
	09/2026	COP	2,549,128		642	0	(90	)
	09/2026	GBP	26,268		35,232	389	0
	09/2026	MXN	406,771		23,194	76	0
	09/2026	PEN	203,823		58,548	0	(901	)
	09/2026	PHP	4,844		79	0	0
	09/2026	$	49,724	CLP	43,167,711	0	(2,854	)
	09/2026		7,200	COP	27,960,066	835	0
	09/2026		3,264	EUR	2,828	0	(22	)
	09/2026		10,381	GBP	7,740	0	(115	)
	09/2026		8,000	JPY	1,273,732	0	(118	)
	09/2026		4,163	MXN	72,144	0	(63	)
	09/2026		171	PEN	589	1	0
	11/2026		21,709		74,257	0	(105	)
	12/2026		30,241		104,833	243	0
CIB	09/2026		184	ZAR	3,056	1	0
DUB	07/2026	NOK	27,236	$	2,931	180	0
	07/2026	PLN	20,783		5,601	77	0
	07/2026	$	267	AUD	373	0	(8	)
	07/2026		15,685	CZK	326,578	0	(311	)
	07/2026		463	RON	2,095	0	(7	)
	07/2026		2,327	ZAR	37,673	0	(31	)
	08/2026		171	INR	16,122	0	(2	)
	09/2026	CHF	8,010	$	10,000	4	0
	09/2026	HUF	8,776,944		27,993	58	(175	)
	09/2026	IDR	156,469,541		8,617	0	(68	)
	09/2026	THB	347,473		10,605	80	0
	09/2026	$	16,761	INR	1,597,742	22	0
	10/2026		35,322	PEN	122,196	268	0
FAR	07/2026	AUD	3,886	$	2,698	8	0
	07/2026	CNH	286,043		42,053	0	(70	)
	07/2026	PLN	58,640		15,921	333	0
	07/2026	SGD	30,509		23,914	332	0
	07/2026	$	2,254	AUD	3,160	0	(66	)
	07/2026		11,621	CNH	78,620	0	(43	)
	07/2026		213	HUF	65,739	0	(2	)
	07/2026		171,193	JPY	27,699,003	0	(837	)
	07/2026		2,234	PLN	8,155	0	(66	)
	07/2026		4,246	ZAR	70,069	25	0
	08/2026	JPY	27,626,520	$	171,193	841	0
	08/2026	$	2,697	AUD	3,886	0	(8	)
	08/2026		42,053	CNH	285,415	66	0
	08/2026		10,459	ILS	29,943	0	(388	)
	09/2026		2,077	INR	199,056	14	0
	09/2026		130	MXN	2,261	0	(2	)
GLM	07/2026	BRL	65,353	$	12,647	0	(12	)
	07/2026	CAD	8,672		6,094	0	(20	)
	07/2026	MYR	17,474		4,303	25	0
	07/2026	TRY	39,928		838	0	(5	)
	07/2026	$	12,625	BRL	65,353	35	0
	07/2026		21	MYR	87	0	0
	08/2026		65,148	BRL	332,920	0	(1,152	)
	08/2026		6,094	CAD	8,659	20	0
	09/2026	HUF	360,292	$	1,143	0	(11	)
	09/2026	IDR	180,618,553		9,931	0	(95	)
	09/2026	MYR	100,922		24,400	0	(372	)
	09/2026	NZD	58,700		33,216	0	(208	)
	09/2026	$	23,064	BRL	119,948	12	(183	)
	09/2026		1,502	INR	144,963	21	0
	09/2026		4,670	MXN	80,937	0	(71	)
IND	07/2026		386	CZK	8,227	1	0
	07/2026		516	HUF	157,476	0	(10	)
JPM	07/2026	AUD	50,543	$	35,355	361	0
	07/2026	CZK	99,179		4,766	97	0
	07/2026	$	63	AUD	88	0	(2	)
	07/2026		15	CHF	11	0	0
	07/2026		907	GBP	676	0	(10	)
	07/2026		7,818	HUF	2,372,285	0	(201	)
	07/2026		7,796	NOK	77,169	0	0
	07/2026		5,717	PLN	20,825	0	(181	)
	08/2026	NOK	77,203	$	7,796	0	0
	08/2026	$	35,333	AUD	50,543	0	(359	)
	08/2026		45	HKD	349	0	0
	08/2026		59,773	ILS	174,743	0	(997	)
	09/2026	CAD	203,871	$	146,157	1,924	0
	09/2026	CZK	1,245,412		59,132	463	0
	09/2026	GBP	9,832		13,024	4	(21	)


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)


	09/2026	HUF	2,897,854		9,193		0		(88	)
	09/2026	IDR	1,141,469,964		62,316		0		(1,042	)
	09/2026	JPY	2,473,957		15,400		92		0
	09/2026	MXN	603,299		34,406		119		0
	09/2026	PLN	65,288		17,337		0		(18	)
	09/2026	SEK	128,069		13,644		380		0
	09/2026	THB	1,313,421		40,229		445		0
	09/2026	TWD	1,787,701		56,475		502		0
	09/2026	$	42,398	AUD	60,105		0		(841	)
	09/2026		23,308	BRL	119,956		0		(413	)
	09/2026		170	CAD	237		0		(2	)
	09/2026		54,368	CHF	42,796		0		(959	)
	09/2026		390	GBP	295		1		0
	09/2026		1,310	JPY	208,400		0		(20	)
	09/2026	ZAR	577,416	$	34,864		0		(171	)
	12/2026	$	82,418	MXN	1,444,911		0		(897	)
MBC	07/2026	AUD	1,853	$	1,276		0		(7	)
	07/2026	JPY	7,961,892		50,086		1,118		0
	07/2026	KRW	113,478,072		74,859		1,491		0
	07/2026	NOK	64,727		6,981		442		0
	07/2026	$	0	AUD	0		0		0
	07/2026		67,777	HUF	20,705,111		0		(1,322	)
	07/2026		2,504	NOK	24,887		10		0
	08/2026	NOK	24,898	$	2,504		0		(10	)
	08/2026	$	1,275	AUD	1,853		7		0
	09/2026	PEN	5,765	$	1,666		0		(16	)
	09/2026	SGD	81,457		63,900		601		0
	09/2026	$	2	INR	208		0		0
	09/2026		10,600	KRW	16,270,576		0		(70	)
	09/2026		98,294	NOK	937,510		0		(3,681	)
MYI	07/2026	CZK	10,899	$	512		0		(1	)
	07/2026	$	523	CZK	10,894		0		(10	)
	08/2026		512		10,895		1		0
	09/2026	EUR	54,258	$	63,174		982		0
	09/2026	MXN	2,352		134		0		0
	09/2026	TWD	16,435		520		6		0
	10/2026	PEN	122,196		35,542		0		(48	)
	11/2026		74,257		21,561		0		(43	)
	12/2026	$	56,982	PEN	196,453		144		0
NGF	08/2026	NOK	870	$	88		0		0
RYL	07/2026	$	123	CZK	2,617		0		0
	09/2026		133,209	JPY	21,212,700		0		(1,948	)
	09/2026		26,646	NZD	45,600		0		(681	)
	09/2026		3,658	SEK	34,195		0		(116	)
SCX	07/2026	GBP	645	$	854		0		(2	)
	07/2026	JPY	451,631		2,842		65		0
	08/2026	$	854	GBP	645		2		0
	08/2026		42	HKD	329		0		0
	09/2026	IDR	199,182,607	$	11,011		0		(45	)
SOG	07/2026	EUR	14,397		16,377		0		(74	)
	07/2026	GBP	29		39		0		0
	07/2026	JPY	14,530,651		91,464		2,097		0
	07/2026	SGD	45		35		0		0
	07/2026	$	24	AUD	33		0		(1	)
	07/2026		51,687	CHF	41,816		65		0
	07/2026		18,978	CNH	128,381		0		(73	)
	07/2026		16,795	EUR	14,397		0		(345	)
	07/2026		23,607	SGD	30,571		23		0
	08/2026	CHF	41,666	$	51,687		0		(66	)
	08/2026	NZD	28,920		16,401		0		(42	)
	08/2026	SGD	30,502		23,607		0		(24	)
	08/2026	$	51	CAD	73		0		0
	08/2026		16,399	EUR	14,397		74		0
	08/2026		39	GBP	29		0		0
	08/2026		35	SGD	45		0		0
	09/2026	HKD	23,493	$	3,007		4		0
SSB	07/2026	CAD	79		56		0		0
	07/2026	CHF	41,826		53,209		1,444		0
	07/2026	$	6,464	CAD	8,914		0		(179	)
	08/2026		56		79		0		0
	09/2026	BRL	42,089	$	8,000		0		(7	)
	09/2026	GBP	162		214		0		(1	)
	09/2026	TWD	712,110		22,500		204		0
	09/2026	$	515	EUR	450		1		0
	09/2026		163	GBP	123		1		0
UAG	07/2026	PLN	20,835	$	5,702		163		0
	09/2026	COP	73,909,073		19,205		0		(2,035	)
	09/2026	$	14,283	CLP	12,711,950		0		(481	)
	09/2026		71,675	COP	276,578,250		7,808		0

Total Forward Foreign Currency Contracts						$	47,859	$	(33,987	)


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)

PURCHASED OPTIONS:

INTEREST RATE SWAPTIONS


Counterparty	Description	Floating Rate Index	Pay/Receive Floating Rate	Exercise Rate			Expiration Date		Notional Amount⁽¹⁾		Cost		Market Value
BPS	Put-OTC 1-Year Interest Rate Swap	3-Month USD-SOFR	Receive		4.250	%		12/09/2026		2,900	$	1	$	5
DUB	Put-OTC 1-Year Interest Rate Swap	3-Month USD-SOFR	Receive		3.650			09/09/2026		153,500		159		696
FAR	Put-OTC 1-Year Interest Rate Swap	3-Month USD-SOFR	Receive		4.250			12/09/2026		354,000		161		595
MYC	Put-OTC 1-Year Interest Rate Swap	3-Month USD-SOFR	Receive		3.650			09/09/2026		25,700		26		116
NGF	Put-OTC 1-Year Interest Rate Swap	3-Month USD-SOFR	Receive		3.650			09/09/2026		268,300		285		1,217

Total Purchased Options											$	632	$	2,629

SWAP AGREEMENTS:

CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION⁽²⁾


																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
BOA	CDX.iTraxx Crossover 44 5-Year 35-100% Index		5.000	%		Quarterly		12/20/2030	EUR	4,300	$	978	$	(64	)	$	914	$	0

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

BOA

Receive

Thailand Equity Index

1,391,200

Maturity

09/29/2026

THB

1,410,022

1,381

TOTAL RETURN SWAPS ON SECURITIES


																		Swap Agreements, at Value
Counterparty	Pay/ Receive⁽⁵⁾		Underlying Reference	# of Shares		Financing Rate	Payment Frequency	Maturity Date		Notional Amount			Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)			Asset		Liability
BOA		Pay	BOVESPA Index		1,318	0	Maturity		08/12/2026		BRL	228,573	$	0	$	(356	)	$	0	$	(356	)
		Pay	Apple, Inc.		137,776	4.560% (SOFR plus a specified spread)	Monthly		07/10/2026		$	40,111		0		325			325		0
		Pay	NVIDIA Corp.		196,145	4.560% (SOFR plus a specified spread)	Monthly		07/10/2026			40,247		0		1,081			1,081		0
MEI		Receive	KOSPI2 Index		11,750,000	0	Maturity		09/10/2026		KRW	0		0		1,173			1,173		0

													$	0	$	2,223		$	2,579	$	(356	)

Total Swap Agreements													$	978	$	3,540		$	4,874	$	(356	)

(h)

Securities with an aggregate market value of $10,945 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of June 30, 2026.

⁽¹⁾	Notional Amount represents the number of contracts.

⁽²⁾

⁽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⁾

⁽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.


Consolidated Schedule of Investments PIMCO TRENDS Managed Futures Strategy Fund (Cont.)		June 30, 2026 (Unaudited)

FAIR VALUE MEASUREMENTS

The following is a summary of the fair valuations according to the inputs used as of June 30, 2026 in valuing the Fund’s assets and liabilities:


Category and Subcategory	Level 1			Level 2			Level 3		Fair Value at 06/30/2026
Investments in Securities, at Value
Corporate Bonds & Notes
Banking & Finance	$	0		$	193,154		$	0	$	193,154
Industrials		0			39,743			0		39,743
Utilities		0			8,879			0		8,879
U.S. Government Agencies		0			148,857			0		148,857
Non-Agency Mortgage-Backed Securities		0			20,145			0		20,145
Asset-Backed Securities
Automobile ABS Other		0			4,906			0		4,906
Automobile Sequential		0			16,901			0		16,901
Credit Card Bullet		0			15,653			0		15,653
Credit Card Other		0			2,003			0		2,003
Home Equity Other		0			322			0		322
Other ABS		0			108,619			0		108,619
Sovereign Issues		0			3,098			0		3,098
Common Stocks
Information Technology		79,114			0			0		79,114
Commodities		0			570			0		570
Corporate Bonds & Notes		0			0			0		0
Short-Term Instruments
Commercial Paper		0			242,762			0		242,762
Repurchase Agreements		0			173,900			0		173,900
U.S. Treasury Bills		0			45,677			0		45,677

	$	79,114		$	1,025,189		$	0	$	1,104,303
Investments in Affiliates, at Value
Short-Term Instruments
Central Funds Used for Cash Management Purposes	$	625,467		$	0		$	0	$	625,467

Total Investments	$	704,581		$	1,025,189		$	0	$	1,729,770

Short Sales, at Value - Liabilities
Corporate Bonds & Notes		0			0			0		0
U.S. Government Agencies		0			(77,760	)		0		(77,760	)

	$	0		$	(77,760	)	$	0	$	(77,760	)
Financial Derivative Instruments - Assets
Exchange-traded or centrally cleared		14,825			6,334			0		21,159
Over the counter		0			55,362			0		55,362

	$	14,825		$	61,696		$	0	$	76,521
Financial Derivative Instruments - Liabilities
Exchange-traded or centrally cleared		(8,285	)		(5,499	)		0		(13,784	)
Over the counter		0			(34,343	)		0		(34,343	)

	$	(8,285	)	$	(39,842	)	$	0	$	(48,127	)

Total Financial Derivative Instruments	$	6,540		$	21,854		$	0	$	28,394

Totals	$	711,121		$	969,283		$	0	$	1,680,404

There were no significant transfers into or out of Level 3 during the period ended June 30, 2026.

Notes to Financial Statements

1. BASIS FOR CONSOLIDATION

PIMCO Cayman Commodity Fund I, II, III, VII and VIII, Ltd., and PIMCO Capital Securities Fund (Cayman) Ltd., the Cayman Islands exempted companies, and MLM 766 LLC and MLM 700 LLC, the Delaware limited liability companies, (each a “Subsidiary”) were incorporated as wholly owned subsidiaries acting as investment vehicles for the respective Funds listed below (“Consolidated Funds”) in order to effect certain investments for the Consolidated Funds consistent with each Consolidated Fund’s investment objectives and policies as specified in their respective prospectus and statement of additional information (with respect to the PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO Inflation Response Multi-Asset Fund, PIMCO TRENDS Managed Futures Strategy Fund and PIMCO Preferred and Capital Securities Fund) or Offering Memorandum and Offering Memorandum Supplement (with respect to the PIMCO Income Fund and PIMCO Total Return Fund). Each Consolidated Fund’s investment portfolio has been consolidated and includes the portfolio holdings of the Consolidated Fund and its respective Subsidiary. The consolidated financial statements include the accounts of each Consolidated Fund and its respective Subsidiary, if any. All inter-company transactions and balances have been eliminated. A subscription agreement was entered into between each Consolidated Fund and its respective Subsidiary, comprising the entire issued share capital of the Subsidiary with the intent that each Consolidated Fund will remain the sole shareholder and retain all rights. Under the Memorandum and Articles of Association of each Subsidiary, shares issued by each Subsidiary confer upon a shareholder the right to receive notice of, to attend and to vote at general meetings of the respective Subsidiary and shall confer upon the shareholder rights in a winding up or repayment of capital and the right to participate in the profits or assets of the respective Subsidiaries. See the table below for details regarding the structure, incorporation and relationship as of period end of each Subsidiary to its respective Consolidated Fund.


Fund Name	Subsidiary	Date of Incorporation		Subsidiary % of Consolidated Fund Net Assets^†
PIMCO CommoditiesPLUS^® Strategy Fund	PIMCO Cayman Commodity Fund III, Ltd.		04/14/2010		17.5	%
PIMCO CommodityRealReturn Strategy Fund^®	PIMCO Cayman Commodity Fund I, Ltd.		07/21/2006		19.5	%
PIMCO Global Core Asset Allocation Fund	PIMCO Cayman Commodity Fund II, Ltd.		11/21/2008		1.0	%
PIMCO Income Fund	MLM 766 LLC		04/30/2018		0.0	%
PIMCO Inflation Response Multi-Asset Fund	PIMCO Cayman Commodity Fund VII, Ltd.		08/01/2011		31.0	%
PIMCO Preferred and Capital Securities Fund	PIMCO Capital Securities Fund (Cayman) Ltd.		02/04/2015		17.6	%
PIMCO Total Return Fund	MLM 700 LLC		05/07/2018		0.0	%
PIMCO TRENDS Managed Futures Strategy Fund	PIMCO Cayman Commodity Fund VIII, Ltd.		09/06/2013		7.1	%

^†	A zero balance may reflect actual amounts rounding to less than 0.01%.

2. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) Investment Valuation Policies The net asset value (“NAV”) of a Fund’s shares, or each of their respective 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, each Funds’ 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 Funds or their 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, each Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. Each 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, each Fund may calculate its NAV as of the NYSE Close for such day or such other time that each 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 Funds 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 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 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 has designated PIMCO as the valuation designee (“Valuation Designee”) for each 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 portfolio 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”).

Notes to Financial Statements (Cont.)

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 a Fund’s assets that are invested in one or more open-end management investment companies, (other than ETFs), the Fund’s NAV will be calculated based on the NAVs of such investments. Open-end management investment companies may include affiliated funds.

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, a 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. A 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 Trust is not open for business, which may result in a 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 a 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 Trust is not open for business. As a result, to the extent that a 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 each Fund’s next calculated NAV. An alternative exchange rate may be obtained from a Pricing Source or an exchange rate may otherwise be determined if believed to be more reflective of the rates at which a Fund may transact.

Fair valuation may require subjective determinations about the value of a security. While the Trust’s and Valuation Designee’s policies and procedures are intended to result in a calculation of a Fund’s NAV that fairly reflects security values as of the time of pricing, the Trust cannot ensure that fair values accurately reflect the price that a 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 a Fund may differ from the value that would be realized if the securities were sold. The Funds’ use of fair valuation may also help to deter “stale price arbitrage” as discussed under the “Abusive Trading Practices” section in each Fund’s prospectus.

Under certain circumstances, the per share NAV of a class of the Fund’s shares may be different from the per share NAV of another class of shares as a result of the different daily expense accruals applicable to each class of shares.

(b) Fair Value Hierarchy U.S. GAAP describes fair value as the price that a 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.

•

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 each respective 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 a 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 each respective Fund.

(c) 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.

Notes to Financial Statements (Cont.)

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-linked securities are valued by referencing the last reported sale or settlement price of the linked referenced equity on the day of valuation. Foreign exchange adjustments are applied to the last reported price to convert the linked equity’s trading currency to the contract’s settling currency. These investments 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 observed from actively quoted markets such as the overnight index swap rate, interest rates, yield curves and credit spreads. These securities are categorized as Level 2 of the fair value hierarchy.

Proxy pricing procedures set the base price of a fixed income security and subsequently adjust the price proportionally to market value changes of a pre-determined security deemed to be comparable in duration, generally a U.S. Treasury or sovereign note based on country of issuance. The base price may be a broker-dealer quote, transaction price or an internal value as derived by analysis of market data. The base price of the security may be reset on a periodic basis based on the availability of market data and procedures approved by the Valuation Oversight Committee. Significant changes in the unobservable inputs of the proxy pricing process (the base price) 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.

If third-party evaluated vendor pricing is not available or not deemed to be indicative of fair value, the Adviser 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 Adviser 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.

Notes to Financial Statements (Cont.)

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.

3. FEDERAL INCOME TAX MATTERS

Each 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.

A 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 Adviser has reviewed the Funds’ tax positions for all open tax years. As of June 30, 2026, the Funds have recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in future tax returns.

The Funds file U.S. federal, state and local tax returns as required. The Funds’ 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 income taxes.

The PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO Inflation Response Multi-Asset Fund and PIMCO TRENDS Managed Futures Strategy Fund may gain exposure to the commodities markets primarily through Index-linked notes and may invest in other commodity-linked derivative instruments, including commodity swap agreements, options, futures contracts, options on futures contracts and foreign funds investing in similar commodity-linked derivatives.

One of the requirements for favorable tax treatment as a regulated investment company under the Code is that a Fund must derive at least 90% of its gross income from certain qualifying sources of income. The Internal Revenue Service (“IRS”) has issued a revenue ruling which holds that income derived from commodity index-linked swaps is not qualifying income under Subchapter M of the Code. The IRS has also issued private letter rulings in which the IRS specifically concluded that income from certain commodity index- linked notes is qualifying income. The IRS has also issued private letter rulings in which the IRS specifically concluded that income derived from an investment in a subsidiary, which invests primarily in commodity-linked swaps, will also be qualifying income. Based on such rulings, the PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO Inflation Response Multi-Asset Fund and PIMCO TRENDS Managed Futures Strategy Fund will continue to seek to gain exposure to the commodity markets primarily through investments in commodity-linked notes and through investments in its subsidiary.

It should be noted, however, that the IRS currently has ceased the issuance of such rulings. In addition, the IRS also issued a revenue procedure, which states that the IRS will not in the future issue private letter rulings that would require a determination of whether an asset (such as a commodity index-linked note) is a “security” under the Act. The IRS issued in September 2016 proposed regulations that would have generally treated a Fund’s income inclusion (under Subpart F of the Code) with respect to the Subsidiary as qualifying income only if there were a distribution during the same taxable year out of the earnings and profits of the Subsidiary attributable to such income inclusion. In March 2019, the IRS issued final regulations (so modifying the proposed regulations) providing that (i) it will not rule on the determination of whether a financial instrument or position is a security under the Act; (ii) any earnings and profits paid out in the same taxable year as earned by a controlled foreign corporation to a Fund is treated as qualifying dividends; and (iii) that income inclusion by a Fund of its Subsidiary’s earnings would be treated as other qualifying income if derived with respect to a Fund’s business of investing in stock, securities, or currencies.

There can be no assurance that the IRS will not change its position that income derived from commodity-linked notes and wholly-owned subsidiaries is qualifying income. Furthermore, the tax treatment of commodity-linked notes, other commodity-linked derivatives and a Fund’s investments in the Subsidiary may otherwise be adversely affected by future legislation, court decisions, Treasury Regulations and/or guidance issued by the IRS. Such developments could affect the character, timing and/or amount of a Fund’s taxable income or any distributions made by the Fund or result in the inability of the Fund to operate as described in its prospectus.

If, during a taxable year, a subsidiary incurs taxable losses (and other deductible items) exceeding its income and gains, the net loss will not pass through to the PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO Inflation Response Multi-Asset Fund and PIMCO TRENDS Managed Futures Strategy Fund as a deductible amount for Federal income tax purposes. Note that the loss from a subsidiary’s contemplated activities also cannot be carried forward to reduce future subsidiary income in subsequent years. However, if a subsidiary’s taxable gains exceed its losses and other deductible items during a taxable year, the net gain will pass through to the PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO Inflation Response Multi-Asset Fund and PIMCO TRENDS Managed Futures Strategy Fund as income for Federal income tax purposes.

To the extent a Fund invests in the PIMCO CommoditiesPLUS^® Strategy Fund, PIMCO CommodityRealReturn Strategy Fund^®, PIMCO Global Core Asset Allocation Fund, PIMCO Inflation Response Multi-Asset Fund and PIMCO TRENDS Managed Futures Strategy Fund, the Fund may be subject to additional tax risk.

Notes to Financial Statements (Cont.)

4. INVESTMENTS IN AFFILIATES

The Funds listed below invest substantially all or a significant portion of their assets in Institutional Class shares or, as applicable, Class M shares of PIMCO Funds, PIMCO Equity Series, PIMCO ETF Trust and Private Account Portfolio Series affiliated open-end investment companies (the “Underlying PIMCO Funds”). The Underlying PIMCO Funds are considered to be affiliated with the Funds. A copy of each Acquired Fund’s shareholder report is available at the U.S. Securities and Exchange Commission (“SEC”) website at www.sec.gov, and a copy of each affiliate fund’s shareholder report is available on the Funds’ website at www.pimco.com, or upon request, as applicable. The tables below show the transactions in and earnings from investments in the affiliated funds for the period ended June 30, 2026 (amounts in thousands^†):

PIMCO All Asset Fund


Underlying PIMCO Funds	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO All Asset: Multi-RAE PLUS Fund	$	1,671,876	$	107,035	$	(404,311	)	$	56,674		$	99,771		$	1,531,045	$	73,555	$	0
PIMCO All Asset: Multi-Real Fund		2,048,955		103,228		(57,264	)		7,494			43,445			2,145,858		79,069		0
PIMCO Emerging Markets Bond Fund		50,530		31,079		(5,603	)		(43	)		2,158			78,121		1,271		0
PIMCO Emerging Markets Currency and Short-Term Investments Fund		367,693		9,344		(38,719	)		(981	)		5,683			343,020		8,111		0
PIMCO Emerging Markets Local Currency and Bond Fund		800,678		132,117		(6,868	)		(310	)		25,187			950,804		15,469		0
PIMCO Extended Duration Fund		147,632		47,816		0			0			1,040			196,488		2,086		0
PIMCO Government Money Market Fund		59,218		161,628		(157,988	)		0			(1	)		62,857		523		0
PIMCO High Yield Fund		372,193		21,955		(32,539	)		(394	)		1,779			362,994		5,734		0
PIMCO High Yield Spectrum Fund		135,322		22,303		0			0			836			158,461		2,512		0
PIMCO Income Fund		130,177		11,593		(7,665	)		(116	)		1,117			135,106		1,761		0
PIMCO International Bond Fund (U.S. Dollar-Hedged)		311,653		82,362		(1,567	)		(26	)		5,675			398,097		3,374		0
PIMCO Investment Grade Credit Bond Fund		64,367		808		0			0			286			65,461		805		0
PIMCO Long Duration Total Return Fund		171,294		32,238		0			0			1,110			204,642		2,577		0
PIMCO Long-Term Real Return Fund		0		78,521		0			0			(1,258	)		77,263		1,584		0
PIMCO Long-Term U.S. Government Fund		231,211		54,883		(1,123	)		(34	)		(478	)		284,459		3,079		0
PIMCO Low Duration Fund		532,856		160,128		(116,207	)		(484	)		(1,649	)		574,644		5,529		0
PIMCO RAE Emerging Markets Fund		245,841		14,839		(73,481	)		16,417			(11,242	)		192,374		0		0
PIMCO RAE Fundamental Advantage PLUS Fund		338,210		64,481		(27,500	)		1,495			(22,535	)		354,151		16,776		0
PIMCO RAE International Fund		67,829		0		(15,389	)		5,212			(5,300	)		52,352		0		0
PIMCO RAE PLUS EMG Fund		98,005		5,692		0			0			788			104,485		5,691		0
PIMCO RAE PLUS International Fund		99,691		6,595		0			0			(4,200	)		102,086		6,595		0
PIMCO RAE US Fund		107,664		0		(10,320	)		686			13,671			111,701		0		0
PIMCO RAE US Small Fund		157,156		0		(47,981	)		8,055			20,201			137,431		0		0
PIMCO RAE Worldwide Long/Short PLUS Fund		333,512		74,529		(23,658	)		(642	)		(36,523	)		347,218		6,412		0
PIMCO Real Return Fund		105,051		33,553		(31,235	)		425			(1,296	)		106,498		2,178		0
PIMCO RealEstateRealReturn Strategy Fund		185,890		1,411		(6,713	)		106			20,822			201,516		1,411		0
PIMCO Total Return Fund		700,111		143,869		(75,680	)		(359	)		1,352			769,293		8,765		0
PIMCO TRENDS Managed Futures Strategy Fund		417,122		6,064		(39,730	)		111			1,098			384,665		4,873		0
Totals	$	9,951,737	$	1,408,071	$	(1,181,541	)	$	93,286		$	161,537		$	10,433,090		259,740	$	0

Notes to Financial Statements (Cont.)

PIMCO All Asset All Authority Fund


Underlying PIMCO Funds	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO All Asset: Multi-Real Fund	$	120,856	$	4,381	$	(9,897	)	$	1,977		$	1,266		$	118,583	$	4,380	$	0
PIMCO All Authority: Multi-RAE PLUS Fund		140,785		4,599		(62,668	)		11,647			1,444			95,807		4,450		0
PIMCO CommoditiesPLUS^®Strategy Fund		0		16,370		(137	)		(6	)		(2,388	)		13,839		1,307		0
PIMCO CommodityRealReturn Strategy Fund^®		21,235		2,434		(9,347	)		1,560			(3,250	)		12,632		965		0
PIMCO Emerging Markets Currency and Short-Term Investments Fund		49,142		1,058		(7,533	)		174			481			43,322		1,059		0
PIMCO Emerging Markets Local Currency and Bond Fund		107,941		11,932		(1,738	)		(60	)		3,379			121,454		2,053		0
PIMCO Extended Duration Fund		16,493		5,502		(596	)		(24	)		138			21,513		231		0
PIMCO Government Money Market Fund		9,564		47,400		(47,211	)		0			0			9,753		81		0
PIMCO High Yield Fund		68,025		1,962		(6,554	)		(80	)		338			63,691		1,032		0
PIMCO High Yield Spectrum Fund		24,645		4,273		(809	)		(15	)		168			28,262		453		0
PIMCO Income Fund		11,467		809		(672	)		(1	)		88			11,691		158		0
PIMCO International Bond Fund (U.S. Dollar-Hedged)		86,900		16,984		(2,868	)		(62	)		1,574			102,528		938		0
PIMCO Investment Grade Credit Bond Fund		5,859		73		(230	)		(26	)		52			5,728		72		0
PIMCO Long Duration Total Return Fund		18,578		4,583		(632	)		(10	)		143			22,662		275		0
PIMCO Long-Term Credit Bond Fund		0		5,435		0			0			28			5,463		45		0
PIMCO Long-Term Real Return Fund		14,075		6,054		(100	)		0			(292	)		19,737		601		0
PIMCO Long-Term U.S. Government Fund		25,311		2,224		(1,815	)		(70	)		(24	)		25,626		311		0
PIMCO Low Duration Fund		178,455		33,260		(24,422	)		(56	)		(712	)		186,525		1,873		0
PIMCO RAE Emerging Markets Fund		20,782		1,436		(14,743	)		5,468			(4,697	)		8,246		0		0
PIMCO RAE Fundamental Advantage PLUS Fund		42,191		8,383		(3,789	)		173			(2,823	)		44,135		2,101		0
PIMCO RAE International Fund		3,965		0		(2,099	)		768			(729	)		1,905		0		0
PIMCO RAE PLUS EMG Fund		10,368		582		(511	)		107			18			10,564		582		0
PIMCO RAE PLUS International Fund		13,538		684		(3,492	)		1,314			(1,552	)		10,492		684		0
PIMCO RAE US Small Fund		13,233		0		(7,302	)		889			1,192			8,012		0		0
PIMCO RAE Worldwide Long/Short PLUS Fund		41,254		8,908		(2,247	)		3			(4,683	)		43,235		804		0
PIMCO Real Return Fund		20,539		9,293		(1,652	)		41			(352	)		27,869		566		0
PIMCO RealEstateRealReturn Strategy Fund		78,564		8,349		(7,364	)		243			9,166			88,958		625		0
PIMCO Total Return Fund		164,974		13,647		(11,374	)		(36	)		253			167,464		1,990		0
PIMCO TRENDS Managed Futures Strategy Fund		58,113		632		(9,324	)		(43	)		255			49,633		632		0
Totals	$	1,366,852	$	221,247	$	(241,126	)	$	23,875		$	(1,519	)	$	1,369,329	$	28,268	$	0

Notes to Financial Statements (Cont.)

PIMCO Emerging Markets Full Spectrum Bond Fund


Underlying PIMCO Funds	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO Emerging Markets Bond Fund	$	11,266	$	186	$	0		$	0		$	319	$	11,771	$	187	$	0
PIMCO Emerging Markets Corporate Bond Fund		44,502		748		0			0			637		45,887		748		0
PIMCO Emerging Markets Local Currency and Bond Fund		71,853		9,991		(16,724	)		(311	)		2,519		67,327		1,404		0
PIMCO Short-Term Floating NAV Portfolio III		21,175		50,835		(67,900	)		2			1		4,113		37		0
Totals	$	148,796	$	61,760	$	(84,624	)	$	(309	)	$	3,476	$	129,098	$	2,376	$	0

PIMCO Global Core Asset Allocation Fund


Underlying PIMCO Funds	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO Income Fund	$	33,008	$	444	$	0		$	0	$	246	$	33,698	$	444	$	0
PIMCO International Bond Fund (U.S. Dollar-Hedged)		65,566		1,208		0			0		1,023		67,797		652		0
PIMCO Short Asset Portfolio		73,246		700		(36,586	)		166		79		37,605		704		0
PIMCO Short-Term Floating NAV Portfolio III		18,915		104,694		(109,972	)		4		0		13,641		194		0
PIMCO Total Return Fund		33,184		402		0			0		38		33,624		404		0
Totals	$	223,919	$	107,448	$	(146,558	)	$	170	$	1,386	$	186,365	$	2,398	$	0

PIMCO Inflation Response Multi-Asset Fund


Underlying PIMCO Funds	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO Commodity Strategy Active Exchange-Traded Fund	$	96,072	$	0	$	0		$	0	$	(4,763	)	$	91,309	$	566	$	0
PIMCO Emerging Markets Currency and Short-Term Investments Fund		134,702		3,172		0			0		1,770			139,644		3,170		0
PIMCO Short-Term Floating NAV Portfolio III		4,843		224,779		(217,500	)		0		0			12,122		80		0
Totals	$	235,617	$	227,951	$	(217,500	)	$	0	$	(2,993	)	$	243,075	$	3,816	$	0

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund


Fund Name	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO Moderate Duration Fund	$	102,918	$	0	$	0	$	0	$	(457	)	$	102,461	$	1,203	$	0
PIMCO Total Return Fund II		34,741		0		0		0		(154	)		34,587		406		0

Notes to Financial Statements (Cont.)

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund


Fund Name	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO High Yield Fund	$	43,593	$	0	$	0	$	0	$	583	$	44,176	$	645	$	0

PIMCO Senior Loan Active Exchange-Traded Fund


Fund Name	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO High Yield Fund	$	83,826	$	27,867	$	0	$	0	$	(202	)	$	111,491	$	2,082	$	0
PIMCO Total Return Fund		28,966		0		0		0		(41	)		28,925		651		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, unless otherwise advised on IRS Form 1099-DIV.

Each 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 Funds. The tables below show the Funds’ transactions in and earnings from investments in the affiliated funds for the period ended June 30, 2026 (amounts in thousands^†):

Investments in PIMCO Short Asset Portfolio


Fund Name	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO CommoditiesPLUS^®Strategy Fund	$	94,026	$	1,023	$	0		$	0		$	336		$	95,385	$	1,023	$	0
PIMCO Dynamic Bond Fund		129,733		1,411		0			0			464			131,608		1,411		0
PIMCO Emerging Markets Currency and Short-Term Investments Fund		57,576		626		0			0			206			58,408		626		0
PIMCO Emerging Markets Local Currency and Bond Fund		36,085		392		0			0			129			36,606		392		0
PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)		0		38,021		0			0			92			38,113		215		0
PIMCO High Yield Fund		0		321,064		0			0			1,104			322,168		3,193		0
PIMCO International Bond Fund (U.S. Dollar-Hedged)		767,381		777,777		(771,073	)		(8,354	)		10,627			776,358		7,788		0
PIMCO Low Duration Credit Fund		0		12,903		(1,478	)		4			39			11,468		123		0
PIMCO Low Duration Fund		767,068		8,345		0			0			2,744			778,157		8,342		0
PIMCO Low Duration Fund II		38,859		423		0			0			139			39,421		423		0
PIMCO Low Duration Opportunities Fund		4,598		50		0			0			16			4,664		50		0
PIMCO RAE Fundamental Advantage PLUS Fund		28,755		29,365		(58,191	)		48			23			0		199		0
PIMCO RAE PLUS EMG Fund		36,990		10,221		(18,228	)		26			110			29,119		421		0
PIMCO RAE PLUS Fund		167,195		33,871		(201,726	)		877			(217	)		0		1,990		0
PIMCO RAE PLUS International Fund		25,098		7,381		(14,437	)		19			70			18,131		282		0
PIMCO RAE PLUS Small Fund		31,221		339		0			0			112			31,672		340		0
PIMCO RAE Worldwide Long/Short PLUS Fund		41,911		102		(40,866	)		(3	)		37			1,181		106		0
PIMCO Short Asset Investment Fund		190,609		1,945		(65,000	)		205			438			128,197		1,952		0

Notes to Financial Statements (Cont.)


PIMCO Short-Term Fund	478,681	5,209	0		0		1,712	485,602	5,206	0
PIMCO StocksPLUS^®Absolute Return Fund	185,743	1,352	(187,721	)	491		135	0	1,908	0
PIMCO StocksPLUS^®International Fund (U.S. Dollar-Hedged)	173,054	74,318	0		0		685	248,057	2,122	0
PIMCO StocksPLUS^®International Fund (Unhedged)	19,423	12,445	(16,980	)	22		57	14,967	250	0
PIMCO StocksPLUS^®Short Fund	10,947	107	(3,094	)	5		31	7,996	108	0
PIMCO StocksPLUS^®Small Fund	14,302	155	0		0		51	14,508	156	0
PIMCO Total Return Fund	2,477,176	26,951	0		0		8,861	2,512,988	26,940	0
PIMCO TRENDS Managed Futures Strategy Fund	608,464	76,765	(62,000	)	(6	)	2,181	625,404	6,770	0

Investments in PIMCO Short-Term Floating NAV Portfolio III


Fund Name	Market Value 03/31/2026		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Market Value 06/30/2026		Dividend Income⁽¹⁾		Realized Net Capital Gain Distributions⁽¹⁾
PIMCO California Intermediate Municipal Bond Fund	$	18,811	$	45,332	$	(58,500	)	$	1		$	2		$	5,646	$	134	$	0
PIMCO California Municipal Bond Fund		37,871		71,145		(103,500	)		10			(3	)		5,523		151		0
PIMCO California Municipal Opportunistic Value Fund		5,578		32,953		(32,500	)		(1	)		2			6,032		53		0
PIMCO California Short Duration Municipal Income Fund		21,277		70,884		(66,100	)		1			2			26,064		184		0
PIMCO CommoditiesPLUS^®Strategy Fund		603,347		283,239		(363,900	)		(14	)		107			522,779		5,601		0
PIMCO CommodityRealReturn Strategy Fund^®		15,201		970,209		(846,500	)		(16	)		12			138,906		787		0
PIMCO Credit Opportunities Bond Fund		82,733		89,775		(149,000	)		(12	)		12			23,508		287		0
PIMCO Diversified Income Fund		193,465		278,731		(259,500	)		100			(69	)		212,727		1,626		0
PIMCO Dynamic Bond Fund		417,305		156,131		(555,400	)		160			(161	)		18,035		1,106		0
PIMCO Emerging Markets Bond Fund		118,900		311,993		(311,900	)		(1	)		22			119,014		996		0
PIMCO Emerging Markets Corporate Bond Fund		3,234		8,833		(8,500	)		0			0			3,567		32		0
PIMCO Emerging Markets Currency and Short-Term Investments Fund		16,428		59,249		(60,400	)		1			2			15,280		152		0
PIMCO Emerging Markets Local Currency and Bond Fund		166,363		923,526		(940,200	)		34			(4	)		149,719		1,828		0
PIMCO Extended Duration Fund		6,348		264,742		(267,400	)		0			0			3,690		42		0
PIMCO Global Advantage^®Strategy Bond Fund		7,592		32,630		(25,400	)		(1	)		3			14,824		129		0
PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)		83,041		380,113		(201,600	)		(6	)		35			261,583		1,897		0
PIMCO GNMA and Government Securities Fund		351		146,658		(118,100	)		2			3			28,914		159		0
PIMCO High Yield Fund		385,111		53,585		(384,054	)		88			(99	)		54,631		923		0
PIMCO High Yield Municipal Bond Fund		450,712		498,377		(722,000	)		54			20			227,163		2,580		0
PIMCO High Yield Spectrum Fund		1,507		21,975		(5,900	)		0			1			17,583		73		0
PIMCO Income Fund		505,044		10,621,091		(10,996,800	)		(38	)		(40	)		129,257		2,413		0
PIMCO International Bond Fund (U.S. Dollar-Hedged)		430,647		3,771,299		(2,776,100	)		201			106			1,426,153		7,735		0

Notes to Financial Statements (Cont.)


PIMCO International Bond Fund (Unhedged)	31,238	237,056	(171,100	)	(2	)	16		97,208	742	0
PIMCO Investment Grade Credit Bond Fund	4,023	867,160	(870,800	)	9		0		392	165	0
PIMCO Long Duration Total Return Fund	667	203,357	(203,900	)	4		0		128	60	0
PIMCO Long-Term Credit Bond Fund	20,304	343,281	(363,500	)	(6	)	0		79	71	0
PIMCO Long-Term Real Return Fund	21,023	41,025	(61,200	)	(1	)	4		851	28	0
PIMCO Long-Term U.S. Government Fund	85	106,728	(106,700	)	3		0		116	24	0
PIMCO Low Duration Credit Fund	12,522	3,005	(14,092	)	(1	)	0		1,434	14	0
PIMCO Low Duration Fund	66,300	298	(66,603	)	5		0		0	348	0
PIMCO Low Duration Fund II	9,472	17,832	(24,700	)	1		0		2,605	32	0
PIMCO Low Duration Income Fund	3,761,093	4,587,106	(4,225,218	)	(194	)	753		4,123,540	37,723	0
PIMCO Low Duration Opportunities Fund	22,369	6,066	(14,000	)	(1	)	3		14,437	165	0
PIMCO Moderate Duration Fund	66	1	0		0		0		67	1	0
PIMCO Mortgage Opportunities and Bond Fund	351,049	2,001,945	(2,207,000	)	36		(23	)	146,007	2,842	0
PIMCO Municipal Bond Fund	414,240	410,029	(815,700	)	114		(59	)	8,624	1,374	0
PIMCO National Intermediate Municipal Bond Fund	122,609	112,171	(232,900	)	27		(15	)	1,892	483	0
PIMCO National Municipal Opportunistic Value Fund	2,478	27,328	(28,200	)	1		1		1,608	28	0
PIMCO New York Municipal Bond Fund	11,030	73,231	(68,500	)	4		1		15,766	128	0
PIMCO Preferred and Capital Securities Fund	39,945	92,466	(97,700	)	(1	)	4		34,714	369	0
PIMCO RAE Fundamental Advantage PLUS Fund	16	0	0		0		0		16	0	0
PIMCO RAE PLUS EMG Fund	34	0	0		0		0		34	0	0
PIMCO RAE PLUS Fund	5,354	6	(5,300	)	1		(1	)	60	6	0
PIMCO RAE PLUS International Fund	26	0	0		0		1		27	0	0
PIMCO RAE PLUS Small Fund	22	0	0		0		0		22	0	0
PIMCO RAE Worldwide Long/Short PLUS Fund	94	1	0		0		0		95	1	0
PIMCO Real Return Fund	133,772	379,136	(500,000	)	(3	)	(11	)	12,894	152	0
PIMCO RealEstateRealReturn Strategy Fund	6,522	108,633	(114,900	)	3		0		258	32	0
PIMCO Short Asset Investment Fund	0	23,811	(23,700	)	0		0		111	17	0
PIMCO Short Duration Municipal Income Fund	52,437	76,313	(122,400	)	15		(9	)	6,356	215	0
PIMCO Short-Term Fund	15	0	0		0		0		15	0	0
PIMCO StocksPLUS^®Absolute Return Fund	53	1	0		0		0		54	1	0
PIMCO StocksPLUS^®Fund	39,272	181,054	(211,900	)	(8	)	0		8,418	63	0
PIMCO StocksPLUS^®International Fund (U.S. Dollar-Hedged)	452,953	1,240,335	(1,436,200	)	(98	)	23		257,013	1,150	0
PIMCO StocksPLUS^®International Fund (Unhedged)	46	0	0		0		1		47	0	0
PIMCO StocksPLUS^®Long Duration Fund	8,747	125,126	(127,500	)	(1	)	0		6,372	25	0
PIMCO StocksPLUS^®Short Fund	18,905	14,971	(33,300	)	0		2		578	74	0
PIMCO StocksPLUS^®Small Fund	46,201	252,107	(245,500	)	1		0		52,809	632	0
PIMCO Total Return Fund	448,107	3,751,885	(3,216,500	)	142		19		983,653	3,169	0
PIMCO Total Return Fund II	482	49,514	(47,600	)	1		0		2,397	13	0

Notes to Financial Statements (Cont.)


PIMCO Total Return Fund IV	15,120	23,307	(22,100	)	4	(1	)	16,330	106	0
PIMCO TRENDS Managed Futures Strategy Fund	66,104	45,168	(111,216	)	0	7		63	314	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.

An affiliate includes any company in which a Fund owns 5% or more of the company’s outstanding voting shares. The table below represents transactions in and earnings from these affiliated issuers for the period ended June 30, 2026 (amounts in thousands^†, except number of shares).

PIMCO Income Fund


Security Name	Market Value at 03/31/2026		Purchases at cost		Proceeds from Sale			Net Realized Gain/(Loss)			Change in Unrealized Appreciation (Depreciation)			Market Value at 06/30/2026		Dividend Income		Shares Held at 06/30/2026
Clear Channel Outdoor Holdings, Inc.	$	120,544	$	0	$	0		$	0		$	2,543		$	123,087	$	0		50,862,666
iHeartMedia, Inc. ‘A’		26,362		0		(4,656	)		(21,338	)		33,755			34,123		0		7,954,032
iHeartMedia, Inc. ‘B’		31,386		0		0			0			13,678			45,064		0		12,214,441
Sierra Hamilton Holder LLC		2		0		0			0			(1	)		1		0		15,369,768
Westmoreland Mining LLC		1,925		671		0			0			(527	)		2,069		0		788,065
Windstream Servcies LLC		57,557		0		0			0			12,825			70,382		0		6,136,182

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


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	MYI	Morgan Stanley & Co. International PLC
BAR	Barclays PLC Corporate RRP/REPO trading	DEU	Deutsche Bank Securities, Inc.	NGF	Nomura Global Financial Products, Inc.
BBV	Banco Bilbao Vizcaya Madrid (Repo Only)	DUB	Deutsche Bank AG	NOM	Nomura Securities International, Inc.
BCY	Barclays Capital, Inc.	FAR	Wells Fargo Bank National Association	NXN	Natixis New York
BOA	Bank of America N.A.	FICC STR	Fixed Income Clearing Corp. - State Street FICC Repo	RBC	Royal Bank of Canada
BOM	Bank of Montreal	GLM	Goldman Sachs Bank USA	RDR	RBC Capital Markets LLC
BOO	BoA Securities, Inc (Repo Only)	GSC	Goldman Sachs & Co. LLC	RYL	NatWest Markets Plc
BOS	BofA Securities, Inc.	GST	Goldman Sachs International	SAL	Citigroup Global Markets, Inc.
BPG	BNP Paribas Securities Corp.	IND	Crédit Agricole Corporate and Investment Bank S.A.	SBI	Citigroup Global Markets Ltd.
BPS	BNP Paribas S.A.	JML	JP Morgan Securities Plc	SCX	Standard Chartered Bank, London
BRC	Barclays Bank PLC	JPM	JP Morgan Chase Bank N.A.	SGY	Societe Generale, NY
BSH	Banco Santander S.A. - New York Branch	JPS	J.P. Morgan Securities LLC	SOG	Societe Generale Paris
BSN	The Bank of Nova Scotia - Toronto	MAA	Mizuho Capital Markets LLC	SSB	State Street Bank and Trust Co.
BSS	Banco Santander S.A.	MAC	Macquarie Bank Limited	STR	State Street FICC Repo
BUS	The Bank of Nova Scotia - Toronto	MBC	HSBC Bank Plc	TDM	TD Securities (USA) LLC
BYR	The Bank of Nova Scotia - Toronto	MEI	Merrill Lynch International	TOR	The Toronto-Dominion Bank
CBK	Citibank N.A.	MFK	Barclays Capital, Inc.	UAG	UBS AG Stamford
CIB	Canadian Imperial Bank of Commerce	MSC	Morgan Stanley & Co. LLC.	UBS	UBS Securities LLC
CKL	Citibank N.A. London	MSR	Morgan Stanley & Co LLC FICC Repo	WAN	Wells Fargo Bank, N.A.- FICC Rep
CTR	Citigroup Global Markets, Inc.- FICC Rep	MYC	Morgan Stanley Capital Services LLC	WFS	Wells Fargo Securities, LLC

Currency Abbreviations:
ARS	Argentine Peso	HUF	Hungarian Forint	PLN	Polish Zloty
AUD	Australian Dollar	IDR	Indonesian Rupiah	PYG	Paraguayan Guarani
AZN	Azerbaijani Manat	ILS	Israeli Shekel	QAR	Qatari Riyal
BRL	Brazilian Real	INR	Indian Rupee	RON	Romanian New Leu
CAD	Canadian Dollar	JPY	Japanese Yen	RSD	Serbian Dinar
CHF	Swiss Franc	KES	Kenyan Schilling	SAR	Saudi Riyal
CLP	Chilean Peso	KRW	South Korean Won	SEK	Swedish Krona
CNH	Chinese Renminbi (Offshore)	KWD	Kuwaiti Dinar	SGD	Singapore Dollar
CNY	Chinese Renminbi (Mainland)	KZT	Kazakhstani Tenge	THB	Thai Baht
COP	Colombian Peso	LKR	Sri Lankan Rupee	TRY	Turkish New Lira
CRC	Costa Rican Colon	MNT	Mongolian Tugrik	TWD	Taiwanese Dollar
CZK	Czech Koruna	MXN	Mexican Peso	UGX	Ugandan Shilling
DKK	Danish Krone	MYR	Malaysian Ringgit	USD (or $)	United States Dollar
DOP	Dominican Peso	NGN	Nigerian Naira	UYU	Uruguayan Peso
EGP	Egyptian Pound	NOK	Norwegian Krone	UZS	Uzbekistani Sum
EUR	Euro	NZD	New Zealand Dollar	VND	Vietnamese Dong
GBP	British Pound	PEN	Peruvian New Sol	ZAR	South African Rand
GHS	Ghanaian Cedi	PHP	Philippine Peso	ZMW	Zambian Kwacha
HKD	Hong Kong Dollar	PKR	Pakistani Rupee

Exchange Abbreviations:
CBOE	Chicago Board Options Exchange	EUREX	Eurex Exchange	LME	London Metal Exchange
CBOT	Chicago Board of Trade	FTSE	Financial Times Stock Exchange	NYBOT	New York Board of Trade
CME	Chicago Mercantile Exchange	ICE	IntercontinentalExchange^®	NYMEX	New York Mercantile Exchange
COMEX	Commodity Exchange, Inc.	KCBT	Kansas City Board of Trade	OTC	Over the Counter

Index/Spread Abbreviations:					8840%sxsv
ABX.HE	Asset-Backed Securities Index - Home Equity	CSIXTR	Credit Suisse U.S. Dollar Total Return Index	NDDUWXUS	MSCI Daily TR Net World Ex USA Index
BACVWSAV	BofA Merrill Lynch Basket Excess Return Strategy Index	DWRTFT	Dow Jones Wilshire REIT Total Return Index	NDUEACWF	MSCI ACWI Index Future
BBSW3M	3 Month Bank Bill Swap Rate	ERADXULN	RAE Fundamental International Large Net Total Return Index	NDUEEGF	iShares MSCI Emerging Markets ETF
BCOMF1NTC	Bloomberg Commodity Index 1-Month Forward Total Return Custom Index	ERAEMLN	RAE Fundamental Emerging Markets Net Total Return Index	PIMCODB	PIMCO Custom Commodity Basket
BCOMF1TC	Bloomberg Commodity Index 1-Month Forward Total Return	ERAEMLT	eRAFI Emerging Markets Strategy Index	PIMCODBU	PIMCO Custom Commodity Basket
BCOMIN	Bloomberg Industrial Metals Subindex	ERAUSLT	eRAFI U.S. Large Strategy Index	primex	Prime Mortgage-Backed Securities Index - Adjustable Rate Mortgage
BCOMPR	Bloomberg Precious Metals Sub-Index	ERAUSST	eRAFI U.S. Small Strategy Index	RALVEIEN	RAE Emerging Markets Low Volatility Equity Income Index
BCOMTR	Bloomberg Commodity Index Total Return	EUR003M	3 Month EUR Swap Rate	RALVEIIN	RAE International Net Low Volatility Equity Income Index
BCOMTR1	Bloomberg Custom Commodity Index	EUR006M	6 Month EUR Swap Rate	RALVEIIT	RAE International Low Volatility Equity Income Total Return Index
BCOMTR2	Bloomberg Custom Commodity Index	FEDL01	Federal funds effective rate	RALVEIUT	RA U.S. Low Volatility Equity Income Total Return Index
BISTREFI	Turkish Lira Overnight Reference Rate	FHMMUSTF	Federated Hermes US Treasury Cash Reserves Fund Yield	RBCACS0T	Custom Commodity Forward Index
BNMMDTSC	Dreyfus Treasury Securites Cash Management Fund Yield	FRCPXTOB	France Consumer Price ex-Tobacco Index	RBCACST0	Custom Commodity Forward Index
BOBL	Bundesobligation, the German word for federal government bond	GOLDLNPM	London Gold Market Fixing Ltd. PM	RU20INTR	Russell 2000 Total Return Index


BP0003M	3 Month GBP-LIBOR	GSMMUSTF	Goldman Sachs Money Market US Treasury Fund Index	S&P 500	Standard & Poor’s 500 Index
Brent	Brent Crude	GSMMUSTI	Goldman Sachs Money Market US Treasury Instrument Index	SFE	Sydney Futures Exchange
BRMMUSDF	BlackRock Money Market US Treasury Fund Index	H15T1Y	1 Year US Treasury Yield Curve Constant Maturity Rate	SIBCSORA	Singapore Overnight Rate Average
CAONINDX	Bloomberg CORRA Compounded Index	HSMMUSTF	HSBC UST Money Market Yield	SOFR	Secured Overnight Financing Rate
CAONREPO	Canadian Overnight Repo Rate Average	IBR	Indicador Bancario de Referencia	SOFRINDX	Secured Overnight Financing Rate Index
CDX.EM	Credit Derivatives Index - Emerging Markets	IBXXLLTR	iBoxx USD Liquid Leveraged Loan Index	SONIA	Sterling Overnight Interbank Average Rate
CDX.HY	Credit Derivatives Index - High Yield	JMABFNJ2	J.P. Morgan Custom Commodity Index	SONIA3M IR	Sterling Overnight Index Average 3 Month Index Rate
CDX.IG	Credit Derivatives Index - Investment Grade	JMABNIC5	J.P. Morgan Custom Commodity Index	SONIO	Sterling Overnight Interbank Average Rate
CIXBSTR3	Custom Commodity Index	JMMMUSTF	JP Morgan Money Market US Treasury Fund Index	SPGCINP	S&P GSCI Industrial Metals ER
CMBX	Commercial Mortgage-Backed Index	JPACWILV	J.P. Morgan Custom Equity Index	SRFXON3	Swiss Overnight Rate Average (6PM)
CMDSKEWLS	CBEO SKEW Index is an index derived from the price of S&P 500 tail risk	JY0003M	3 Month JPY-LIBOR	TSFR1M	Term SOFR 1-Month
CNREPOFIX	China Fixing Repo Rates 7-Day	MLPIREIL	Merrill Lynch Custom Equity Index	TSFR3M	Term SOFR 3-Month
CORRA	Canadian Overnight Repo Rate Average	MLPIREIS	Merrill Lynch Custom Equity Index	TSFR6M	Term SOFR 6-Month
CPALEMU	Euro Area All Items Non-Seasonally Adjusted Index	MSMMUSTF	MSILF Money Market US Treasury Fund Index	UKRPI	United Kingdom Retail Prices Index
CPI	Consumer Price Index	MUNIPSA	Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index	ULSD	Ultra-Low Sulfur Diesel
CPTFEMU	Eurozone HICP ex-Tobacco Index	MUTKCALM	Tokyo Overnight Average Rate	US0003M	ICE 3-Month USD LIBOR
CPURNSA	Consumer Price All Urban Non-Seasonally Adjusted Index	NDDUEAFE	MSCI EAFE Index	WIRON	Warsaw Interbank Offered Rate

Municipal Bond or Agency Abbreviations:
ACA	American Capital Access Holding Ltd.	CNTY	County Guaranteed	HUD	U.S. Department of Housing and Urban Development
AGC	Assured Guaranty Corp.	CR	Custodial Receipts	NPFGC	National Public Finance Guarantee Corp.
AGM	Assured Guaranty Municipal	FHA	Federal Housing Administration	PSF	Public School Fund
AMBAC	American Municipal Bond Assurance Corp.	FHLMC	Federal Home Loan Mortgage Corp.	Q-SBLF	Qualified School Bond Loan Fund
BAM	Build America Mutual Assurance	FNMA	Federal National Mortgage Association	SGI	Syncora Guarantee, Inc.
CM	California Mortgage Insurance	GNMA	Government National Mortgage Association

Other Abbreviations:
ABS	Asset-Backed Security	JIBAR	Johannesburg Interbank Agreed Rate	REMIC	Real Estate Mortgage Investment Conduit
ALT	Alternate Loan Trust	JSC	Joint Stock Company	RMBS	Residential Mortgage-Backed Security
BABs	Build America Bonds	KLIBOR	Kuala Lumpur Interbank Offered Rate	SPDR	Standard & Poor’s Depositary Receipts
BBR	Bank Bill Rate	KORIBOR	Korea Interbank Offered Rate	STIBOR	Stockholm Interbank Offered Rate
BBSW	Bank Bill Swap Reference Rate	Lunar	Monthly payment based on 28-day periods. One year consists of 13 periods.	TBA	To-Be-Announced
BRL-CDI	Brazil Interbank Deposit Rate	MIBOR	Mumbai Interbank Offered Rate	TBD	To-Be-Determined
BTP	Buoni del Tesoro Poliennali “Long-term Treasury Bond”	MSCI	Morgan Stanley Capital International	TBD%	Interest rate to be determined when loan settles or at the time of funding
CDO	Collateralized Debt Obligation	NIBOR	Norwegian Interbank Offered Rate	TELBOR	Tel Aviv Inter-Bank Offered Rate
CHILIBOR	Chile Interbank Offered Rate	OAT	Obligations Assimilables du Trésor	THBFIX	Thai Baht Floating-Rate Fix
CLO	Collateralized Loan Obligation	OIS	Overnight Index Swap	THB-THOR	Thai Overnight Repurchase Rate
CMBS	Collateralized Mortgage-Backed Security	PIK	Payment-in-Kind	TIIE	Tasa de Interés Interbancaria de Equilibrio “Equilibrium Interbank Interest Rate”
DAC	Designated Activity Company	PRIBOR	Prague Interbank Offered Rate	WIBOR	Warsaw Interbank Offered Rate
EURIBOR	Euro Interbank Offered Rate	RBOB	Reformulated Blendstock for Oxygenate Blending	WTI	West Texas Intermediate
HIBOR	Hong Kong Interbank Offered Rate	REIT	Real Estate Investment Trust