# EDGAR Filing Document

**Accession Number:** 0000810893
**File Stem:** 0001193125-26-251107
**Filing Date:** 2026-6
**Character Count:** 2944265
**Document Hash:** 7f82b7f175320485d1f8f3e1924265a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-251107.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001193125-26-251107

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 76

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**EFFECTIVENESS DATE**: 20260601

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO FUNDS
- **CENTRAL INDEX KEY:** 0000810893

**ORGANIZATION NAME:**
- **EIN:** 952632339
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05028
- **FILM NUMBER:** 261049982

**BUSINESS ADDRESS:**
- **STREET 1:** 650 NEWPORT CENTER DRIVE
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 949-720-6000

**MAIL ADDRESS:**
- **STREET 1:** 650 NEWPORT CENTER DRIVE
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

## Series and Classes Contracts Data

### PIMCO GNMA and Government Securities Fund (Series ID: S000009684)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000026541 | Institutional | PDMIX           |
| C000026542 | A             | PAGNX           |
| C000026544 | C             | PCGNX           |
| C000064137 | I-2           | PPGNX           |
| C000203300 | I-3           | PANNX           |

### PIMCO Investment Grade Credit Bond Fund (Series ID: S000009688)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000026564 | Institutional  | PIGIX           |
| C000026565 | Administrative | PGCAX           |
| C000026566 | A              | PBDAX           |
| C000026567 | C              | PBDCX           |
| C000064141 | I-2            | PBDPX           |
| C000200444 | I-3            | PCNNX           |

### PIMCO Long-Term U.S. Government Fund (Series ID: S000009690)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000026570 | Institutional | PGOVX           |
| C000026572 | A             | PFGAX           |
| C000026574 | C             | PFGCX           |
| C000064142 | I-2           | PLTPX           |

### PIMCO Moderate Duration Fund (Series ID: S000009694)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000026586 | Institutional | PMDRX           |
| C000085176 | I-2           | PMOPX           |

### PIMCO Total Return Fund II (Series ID: S000009709)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000026656 | Institutional | PMBIX           |
| C000082492 | I-2           | PMTPX           |

### PIMCO Total Return ESG Fund (Series ID: S000009710)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000026658 | Institutional  | PTSAX           |
| C000026659 | Administrative | PRFAX           |
| C000066771 | I-2            | PRAPX           |
| C000203306 | I-3            |  |
| C000217562 | Class A        | PTGAX           |
| C000217563 | Class C        | PTGCX           |

### PIMCO Long Duration Total Return Fund (Series ID: S000013232)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000035567 | Institutional | PLRIX           |
| C000064164 | I-2           | PLRPX           |
| C000080408 | Class A       | PLRAX           |
| C000195167 | Class C       | PLRCX           |

### PIMCO Extended Duration Fund (Series ID: S000013233)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000035569 | Institutional | PEDIX           |
| C000064165 | I-2           | PEDPX           |

### PIMCO Dynamic Bond Fund (Series ID: S000022557)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000065243 | A             | PUBAX           |
| C000065245 | I-2           | PUCPX           |
| C000065246 | Institutional | PFIUX           |
| C000069483 | Class C       | PUBCX           |
| C000069484 | Class R       | PUBRX           |
| C000200461 | I-3           | PFNUX           |

### PIMCO LOW DURATION OPPORTUNITIES FUND (Series ID: S000024795)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000073749 | Institutional | PUTIX           |
| C000073751 | Class A       | ATMAX           |
| C000073752 | Class C       | ATMCX           |
| C000073754 | I-2           | PUTPX           |

### PIMCO Total Return Fund IV (Series ID: S000032049)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000099802 | Institutional Class | PTUIX           |
| C000099804 | Class A             | PTUZX           |

### PIMCO Mortgage Opportunities and Bond Fund (Series ID: S000038441)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000118561 | Institutional Class | PMZIX           |
| C000118562 | I-2                 | PMZPX           |
| C000118565 | Class A             | PMZAX           |
| C000118566 | Class C             | PMZCX           |
| C000200465 | I-3                 | PMZNX           |

### PIMCO Climate Bond Fund (Series ID: S000066984)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000215594 | Class A             | PCEBX           |
| C000215595 | I-3                 | PCEWX           |
| C000215596 | Institutional Class | PCEIX           |
| C000215597 | I-2                 | PCEPX           |
| C000215598 | Class C             | PCECX           |

### PIMCO Total Return Fund V (Series ID: S000079898)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000241367 | Institutional Class |  |
| C000241370 | Class A             |  |

?xml version='1.0' encoding='ASCII'? N-CSR

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

#### INVESTMENT COMPANIES
Investment Company Act file number: 811-05028

### PIMCO Funds

#### (Exact name of registrant as specified in charter)
650 Newport Center Drive, Newport Beach, CA 92660

#### (Address of principal executive office)

#### Bijal Y. Parikh

#### Treasurer (Principal Financial & Accounting Officer)

#### PIMCO Funds

#### 650 Newport Center Drive

#### Newport Beach, CA 92660

#### (Name and address of agent for service)
Copies to:

#### Adam T. Teufel

#### Dechert LLP

#### 1900 K Street, N.W.

#### Washington, D.C. 20006
Registrant's telephone number, including area code: (888) 877-4626

Date of fiscal year end: March 31

Date of reporting period: March 31, 2026

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

------

#### EXPLANATORY NOTE
The Registrant is filing this Certified Shareholder Report on Form N-CSR in six (6) separate submissions due to file size limitations on EDGAR submissions. The initial submission (the "initially filed submission") of the Certified Shareholder Report on Form N-CSR dated June 1, 2026 and the immediately following companion submission (the "first companion submission") of the Certified Shareholder Report on Form N-CSR dated June 1, 2026 provide the information required by Item 1, 6 and 7 with respect to certain reports transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (the "Act") (17 CFR 270.30e-1). This submission (the "second companion submission") provides the information required by Items 1, 6 and 7 with respect to the remaining reports transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1) that were not included in the Registrant's initially filed submission and the Registrant's first companion submission and in the immediately following companion submissions (the "third companion submission", "fourth companion submission" and the "fifth companion submission"). Apart from Items 1, 6 and 7, this submission is identical in all material respects to the initially filed submission and the first companion submission.

------

**Item 1.** **Reports to Stockholders.** <br>

(a) The following is a copy of the reports transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") (17 CFR 270.30e-1).

Filed under the initially filed submission on Form N-CSR:

• PIMCO All Asset Fund Class A

• PIMCO All Asset Fund Administrative Class

• PIMCO All Asset Fund Class C

• PIMCO All Asset Fund Institutional Class

• PIMCO All Asset Fund I-2

• PIMCO All Asset Fund Class R

• PIMCO All Asset Fund I-3

• PIMCO All Asset All Authority Fund Class A

• PIMCO All Asset All Authority Fund Class C

• PIMCO All Asset All Authority Fund Institutional Class

• PIMCO All Asset All Authority Fund I-2

• PIMCO All Asset All Authority Fund I-3

• PIMCO Global Core Asset Allocation Fund Class A

• PIMCO Global Core Asset Allocation Fund Class C

• PIMCO Global Core Asset Allocation Fund Institutional Class

• PIMCO Global Core Asset Allocation Fund I-2

• PIMCO California Intermediate Municipal Bond Fund Class A

• PIMCO California Intermediate Municipal Bond Fund Class C

• PIMCO California Intermediate Municipal Bond Fund Institutional Class

• PIMCO California Intermediate Municipal Bond Fund I-2

• PIMCO California Municipal Bond Fund Class A

• PIMCO California Municipal Bond Fund Class C

• PIMCO California Municipal Bond Fund Institutional Class

• PIMCO California Municipal Bond Fund I-2

• PIMCO California Short Duration Municipal Income Fund Class A

• PIMCO California Short Duration Municipal Income Fund Institutional Class

• PIMCO California Short Duration Municipal Income Fund I-2

• PIMCO High Yield Municipal Bond Fund Class A

• PIMCO High Yield Municipal Bond Fund Class C

• PIMCO High Yield Municipal Bond Fund Institutional Class

• PIMCO High Yield Municipal Bond Fund I-2

• PIMCO High Yield Municipal Bond Fund I-3

• PIMCO Municipal Bond Fund Class A

• PIMCO Municipal Bond Fund Class C

• PIMCO Municipal Bond Fund Institutional Class

• PIMCO Municipal Bond Fund I-2

• PIMCO Municipal Bond Fund I-3

• PIMCO National Intermediate Municipal Bond Fund Class A

• PIMCO National Intermediate Municipal Bond Fund Class C

• PIMCO National Intermediate Municipal Bond Fund Institutional Class

• PIMCO National Intermediate Municipal Bond Fund I-2

• PIMCO New York Municipal Bond Fund Class A

• PIMCO New York Municipal Bond Fund Class C

• PIMCO New York Municipal Bond Fund Institutional Class

• PIMCO New York Municipal Bond Fund I-2

• PIMCO New York Municipal Bond Fund I-3

------

• PIMCO Short Duration Municipal Income Fund Class A

• PIMCO Short Duration Municipal Income Fund Class C

• PIMCO Short Duration Municipal Income Fund Institutional Class

• PIMCO Short Duration Municipal Income Fund I-2

• PIMCO Short Duration Municipal Income Fund Class C-2

• PIMCO Short Duration Municipal Income Fund I-3

• PIMCO California Municipal Opportunistic Value Fund Institutional Class

• PIMCO National Municipal Opportunistic Value Fund Institutional Class

• PIMCO Emerging Markets Bond Fund Class A

• PIMCO Emerging Markets Bond Fund Class C

• PIMCO Emerging Markets Bond Fund Institutional Class

• PIMCO Emerging Markets Bond Fund I-2

• PIMCO Emerging Markets Bond Fund I-3

• PIMCO Emerging Markets Corporate Bond Fund Institutional Class

• PIMCO Emerging Markets Currency and Short-Term Investments Fund Class A

• PIMCO Emerging Markets Currency and Short-Term Investments Fund Institutional Class

• PIMCO Emerging Markets Currency and Short-Term Investments Fund I-2

• PIMCO Emerging Markets Full Spectrum Bond Fund Institutional Class

• PIMCO Emerging Markets Local Currency and Bond Fund Class A

• PIMCO Emerging Markets Local Currency and Bond Fund Class C

• PIMCO Emerging Markets Local Currency and Bond Fund Institutional Class

• PIMCO Emerging Markets Local Currency and Bond Fund I-2

• PIMCO Emerging Markets Local Currency and Bond Fund I-3

• PIMCO Global Advantage® Strategy Bond Fund Class A

• PIMCO Global Advantage® Strategy Bond Fund Institutional Class

• PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class A

• PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class C

• PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Institutional Class

• PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) I-2

• PIMCO International Bond Fund (Unhedged) Class A

• PIMCO International Bond Fund (Unhedged) Administrative Class

• PIMCO International Bond Fund (Unhedged) Class C

• PIMCO International Bond Fund (Unhedged) Institutional Class

• PIMCO International Bond Fund (Unhedged) I-2

• PIMCO International Bond Fund (Unhedged) I-3

Filed under the first companion submission on Form N-CSR:

• PIMCO RAE Fundamental Advantage PLUS Fund Class A

• PIMCO RAE Fundamental Advantage PLUS Fund Institutional Class

• PIMCO RAE PLUS EMG Fund Institutional Class

• PIMCO RAE PLUS EMG Fund I-2

• PIMCO RAE PLUS EMG Fund Class A

• PIMCO RAE PLUS EMG Fund Class C

• PIMCO RAE PLUS Fund Class A

• PIMCO RAE PLUS Fund Class C

• PIMCO RAE PLUS Fund Institutional Class

• PIMCO RAE PLUS Fund I-2

• PIMCO RAE PLUS Fund I-3

• PIMCO RAE PLUS International Fund Institutional Class

• PIMCO RAE PLUS International Fund Class A

• PIMCO RAE PLUS International Fund I-2

• PIMCO RAE PLUS Small Fund Institutional Class

• PIMCO RAE PLUS Small Fund Class A

• PIMCO RAE PLUS Small Fund Class C

• PIMCO RAE PLUS Small Fund I-2

• PIMCO RAE Worldwide Long/Short PLUS Fund Class A

• PIMCO RAE Worldwide Long/Short PLUS Fund Class C

• PIMCO RAE Worldwide Long/Short PLUS Fund I-2

• PIMCO RAE Worldwide Long/Short PLUS Fund Institutional Class

------

• PIMCO StocksPLUS® Absolute Return Fund Class A

• PIMCO StocksPLUS® Absolute Return Fund Class C

• PIMCO StocksPLUS® Absolute Return Fund Institutional Class

• PIMCO StocksPLUS® Absolute Return Fund I-2

• PIMCO StocksPLUS® Absolute Return Fund I-3

• PIMCO StocksPLUS® Fund Class A

• PIMCO StocksPLUS® Fund Class C

• PIMCO StocksPLUS® Fund Institutional Class

• PIMCO StocksPLUS® Fund I-2

• PIMCO StocksPLUS® Fund Class R

• PIMCO StocksPLUS® Fund I-3

• PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A

• PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class C

• PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Institutional Class

• PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) I-2

• PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) I-3

• PIMCO StocksPLUS® International Fund (Unhedged) Class A

• PIMCO StocksPLUS® International Fund (Unhedged) Class C

• PIMCO StocksPLUS® International Fund (Unhedged) Institutional Class

• PIMCO StocksPLUS® International Fund (Unhedged) I-2

• PIMCO StocksPLUS® International Fund (Unhedged) I-3

• PIMCO StocksPLUS® Long Duration Fund Institutional Class

• PIMCO StocksPLUS® Short Fund Class A

• PIMCO StocksPLUS® Short Fund Class C

• PIMCO StocksPLUS® Short Fund Institutional Class

• PIMCO StocksPLUS® Short Fund I-2

• PIMCO StocksPLUS® Short Fund I-3

• PIMCO StocksPLUS® Small Fund Class A

• PIMCO StocksPLUS® Small Fund Class C

• PIMCO StocksPLUS® Small Fund Institutional Class

• PIMCO StocksPLUS® Small Fund I-2

• PIMCO StocksPLUS® Small Fund I-3

Filed under this submission (the second companion submission) on Form N-CSR:

• PIMCO Climate Bond Fund Class A

• PIMCO Climate Bond Fund Class C

• PIMCO Climate Bond Fund Institutional Class

• PIMCO Climate Bond Fund I-2

• PIMCO Climate Bond Fund I-3

• PIMCO Dynamic Bond Fund Class A

• PIMCO Dynamic Bond Fund Class C

• PIMCO Dynamic Bond Fund Institutional Class

• PIMCO Dynamic Bond Fund I-2

• PIMCO Dynamic Bond Fund Class R

• PIMCO Dynamic Bond Fund I-3

• PIMCO Extended Duration Fund Institutional Class

• PIMCO Extended Duration Fund I-2

• PIMCO GNMA and Government Securities Fund Class A

• PIMCO GNMA and Government Securities Fund Class C

• PIMCO GNMA and Government Securities Fund Institutional Class

• PIMCO GNMA and Government Securities Fund I-2

• PIMCO GNMA and Government Securities Fund I-3

• PIMCO Investment Grade Credit Bond Fund Class A

• PIMCO Investment Grade Credit Bond Fund Administrative Class

• PIMCO Investment Grade Credit Bond Fund Class C

• PIMCO Investment Grade Credit Bond Fund Institutional Class

• PIMCO Investment Grade Credit Bond Fund I-2

• PIMCO Investment Grade Credit Bond Fund I-3

• PIMCO Long Duration Total Return Fund Institutional Class

• PIMCO Long Duration Total Return Fund I-2

------

• PIMCO Long Duration Total Return Fund Class A

• PIMCO Long Duration Total Return Fund Class C

• PIMCO Long-Term U.S. Government Fund Class A

• PIMCO Long-Term U.S. Government Fund Class C

• PIMCO Long-Term U.S. Government Fund Institutional Class

• PIMCO Long-Term U.S. Government Fund I-2

• PIMCO Low Duration Opportunities Fund Class A

• PIMCO Low Duration Opportunities Fund Class C

• PIMCO Low Duration Opportunities Fund Institutional Class

• PIMCO Low Duration Opportunities Fund I-2

• PIMCO Moderate Duration Fund Institutional Class

• PIMCO Moderate Duration Fund I-2

• PIMCO Mortgage Opportunities and Bond Fund I-3

• PIMCO Mortgage Opportunities and Bond Fund Class A

• PIMCO Mortgage Opportunities and Bond Fund Class C

• PIMCO Mortgage Opportunities and Bond Fund Institutional Class

• PIMCO Mortgage Opportunities and Bond Fund I-2

• PIMCO Total Return ESG Fund Administrative Class

• PIMCO Total Return ESG Fund Institutional Class

• PIMCO Total Return ESG Fund I-2

• PIMCO Total Return ESG Fund Class A

• PIMCO Total Return ESG Fund Class C

• PIMCO Total Return ESG Fund I-3

• PIMCO Total Return Fund II Institutional Class

• PIMCO Total Return Fund II I-2

• PIMCO Total Return Fund IV Class A

• PIMCO Total Return Fund IV Institutional Class

• PIMCO Total Return Fund V Institutional Class

• PIMCO Total Return Fund V Class A

To be filed under the immediately following third companion submission on Form N-CSR:

• PIMCO International Bond Fund (U.S. Dollar-Hedged) Class A

• PIMCO International Bond Fund (U.S. Dollar-Hedged) Administrative Class

• PIMCO International Bond Fund (U.S. Dollar-Hedged) Class C

• PIMCO International Bond Fund (U.S. Dollar-Hedged) Institutional Class

• PIMCO International Bond Fund (U.S. Dollar-Hedged) I-2

• PIMCO International Bond Fund (U.S. Dollar-Hedged) Class R

• PIMCO International Bond Fund (U.S. Dollar-Hedged) I-3

• PIMCO ABS and Short-Term Investments Portfolio

• PIMCO EM Bond and Short-Term Investments Portfolio

• PIMCO High Yield and Short-Term Investments Portfolio

• PIMCO Investment Grade Credit Bond Portfolio

• PIMCO Long Duration Credit Bond Portfolio

• PIMCO Low Duration Portfolio

• PIMCO Moderate Duration Portfolio

• PIMCO Mortgage and Short-Term Investments Portfolio

• PIMCO Municipal Portfolio

• PIMCO Real Return Portfolio

• PIMCO Sector Fund Series – AM

• PIMCO Sector Fund Series – H

• PIMCO Sector Fund Series – I

• PIMCO Short-Term Portfolio

• PIMCO Short-Term Floating NAV Portfolio II

• PIMCO U.S. Government and Short-Term Investments Portfolio

• PIMCO International Portfolio

• PIMCO Short Asset Portfolio

• PIMCO Short-Term Floating NAV Portfolio III

To be filed under the immediately following fourth companion submission on Form N-CSR:

------

• PIMCO All Asset: Multi-RAE PLUS Fund

• PIMCO All Asset: Multi-Real Fund

• PIMCO All Authority: Multi-RAE PLUS Fund

• PIMCO Income Fund Class A

• PIMCO Income Fund Administrative Class

• PIMCO Income Fund Class C

• PIMCO Income Fund Institutional Class

• PIMCO Income Fund I-2

• PIMCO Income Fund Class R

• PIMCO Income Fund I-3

• PIMCO Total Return Fund Class A

• PIMCO Total Return Fund Administrative Class

• PIMCO Total Return Fund Class C

• PIMCO Total Return Fund Institutional Class

• PIMCO Total Return Fund I-2

• PIMCO Total Return Fund Class R

• PIMCO Total Return Fund I-3

• PIMCO Credit Opportunities Bond Fund Class A

• PIMCO Credit Opportunities Bond Fund Class C

• PIMCO Credit Opportunities Bond Fund Institutional Class

• PIMCO Credit Opportunities Bond Fund I-2

• PIMCO Diversified Income Fund Class A

• PIMCO Diversified Income Fund Administrative Class

• PIMCO Diversified Income Fund Class C

• PIMCO Diversified Income Fund Institutional Class

• PIMCO Diversified Income Fund I-2

• PIMCO Diversified Income Fund I-3

• PIMCO ESG Income Fund Class A

• PIMCO ESG Income Fund Class C

• PIMCO ESG Income Fund Institutional Class

• PIMCO ESG Income Fund I-2

• PIMCO ESG Income Fund I-3

• PIMCO High Yield Fund Class A

• PIMCO High Yield Fund Administrative Class

• PIMCO High Yield Fund Class C

• PIMCO High Yield Fund Institutional Class

• PIMCO High Yield Fund I-2

• PIMCO High Yield Fund Class R

• PIMCO High Yield Fund I-3

• PIMCO High Yield Spectrum Fund Class A

• PIMCO High Yield Spectrum Fund Class C

• PIMCO High Yield Spectrum Fund Institutional Class

• PIMCO High Yield Spectrum Fund I-2

• PIMCO High Yield Spectrum Fund I-3

• PIMCO Long-Term Credit Bond Fund Institutional Class

• PIMCO Long-Term Credit Bond Fund I-2

• PIMCO Low Duration Credit Fund Class A

• PIMCO Low Duration Credit Fund Class C

• PIMCO Low Duration Credit Fund Institutional Class

• PIMCO Low Duration Credit Fund I-2

• PIMCO Low Duration Income Fund Class A

• PIMCO Low Duration Income Fund Class C

• PIMCO Low Duration Income Fund Institutional Class

• PIMCO Low Duration Income Fund I-2

• PIMCO Low Duration Income Fund I-3

• PIMCO Low Duration Income Fund Class C-2

• PIMCO Preferred and Capital Securities Fund Class A

• PIMCO Preferred and Capital Securities Fund Class C

• PIMCO Preferred and Capital Securities Fund I-2

• PIMCO Preferred and Capital Securities Fund Institutional Class

• PIMCO Preferred and Capital Securities Fund I-3

------

To be filed under the immediately following fifth companion submission on Form N-CSR:

• PIMCO Government Money Market Fund Class A

• PIMCO Government Money Market Fund Class C

• PIMCO Government Money Market Fund Class M

• PIMCO Government Money Market Fund I-2

• PIMCO Government Money Market Fund Institutional Class

• PIMCO Government Money Market Fund Administrative Class

• PIMCO Low Duration Fund Class A

• PIMCO Low Duration Fund Administrative Class

• PIMCO Low Duration Fund Class C

• PIMCO Low Duration Fund Institutional Class

• PIMCO Low Duration Fund I-2

• PIMCO Low Duration Fund Class R

• PIMCO Low Duration Fund I-3

• PIMCO Low Duration Fund Class C-2

• PIMCO Low Duration Fund II Administrative Class

• PIMCO Low Duration Fund II Institutional Class

• PIMCO Low Duration ESG Fund Institutional Class

• PIMCO Low Duration ESG Fund I-2

• PIMCO Short Asset Investment Fund Class A

• PIMCO Short Asset Investment Fund Administrative Class

• PIMCO Short Asset Investment Fund Institutional Class

• PIMCO Short Asset Investment Fund I-2

• PIMCO Short Asset Investment Fund Class M

• PIMCO Short Asset Investment Fund I-3

• PIMCO Short-Term Fund Class A

• PIMCO Short-Term Fund Administrative Class

• PIMCO Short-Term Fund Class C

• PIMCO Short-Term Fund Institutional Class

• PIMCO Short-Term Fund I-2

• PIMCO Short-Term Fund Class R

• PIMCO Short-Term Fund I-3

• PIMCO CommoditiesPLUS® Strategy Fund Class A

• PIMCO CommoditiesPLUS® Strategy Fund Class C

• PIMCO CommoditiesPLUS® Strategy Fund Institutional Class

• PIMCO CommoditiesPLUS® Strategy Fund I-2

• PIMCO CommoditiesPLUS® Strategy Fund I-3

• PIMCO CommodityRealReturnStrategy Fund® Class A

• PIMCO CommodityRealReturnStrategy Fund® Administrative Class

• PIMCO CommodityRealReturnStrategy Fund® Class C

• PIMCO CommodityRealReturnStrategy Fund® Institutional Class

• PIMCO CommodityRealReturnStrategy Fund® I-2

• PIMCO CommodityRealReturnStrategy Fund® Class R

• PIMCO CommodityRealReturnStrategy Fund® I-3

• PIMCO Inflation Response Multi-Asset Fund Class A

• PIMCO Inflation Response Multi-Asset Fund Institutional Class

• PIMCO Inflation Response Multi-Asset Fund I-2

• PIMCO Inflation Response Multi-Asset Fund I-3

• PIMCO Long-Term Real Return Fund Institutional Class

• PIMCO Long-Term Real Return Fund I-2

• PIMCO Real Return Fund Class A

• PIMCO Real Return Fund Administrative Class

• PIMCO Real Return Fund Class C

• PIMCO Real Return Fund Institutional Class

• PIMCO Real Return Fund I-2

• PIMCO Real Return Fund Class R

• PIMCO Real Return Fund I-3

• PIMCO RealEstateRealReturn Strategy Fund Class A

• PIMCO RealEstateRealReturn Strategy Fund Class C

------

• PIMCO RealEstateRealReturn Strategy Fund Institutional Class

• PIMCO RealEstateRealReturn Strategy Fund I-2

• PIMCO RealEstateRealReturn Strategy Fund I-3

• PIMCO TRENDS Managed Futures Strategy Fund I-3

• PIMCO TRENDS Managed Futures Strategy Fund Class C

• PIMCO TRENDS Managed Futures Strategy Fund Class A

• PIMCO TRENDS Managed Futures Strategy Fund Institutional Class

• PIMCO TRENDS Managed Futures Strategy Fund I-2

(b) Not applicable to the open-end investment companies.

# Class A: PCEBX

# PIMCO Climate Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Climate Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

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| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $94 | 0.92% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to absolute performance, as the 3-month Secured Overnight Financing Rate was accrued.

* Long exposure to investment grade corporate credit contributed to absolute performance, as spreads tightened and spread carry was accrued.

* Long exposure to government related securities contributed to absolute performance, as spreads tightened. 

* Long exposure to eurozone interest rates, specifically the intermediate portion of the curve, detracted from absolute performance, as eurozone interest rates increased. 

* Long exposure to U.S. interest rates, specifically the intermediate portion of the curve detracted from absolute performance, as U.S. interest rates increased. 

* Long exposure to Australian interest rates detracted from absolute performance, as Australian interest rates increased.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g44y38.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg Global Aggregate (USD Hedged) Index** | **Bloomberg MSCI Global Green Bond Index, USD Hedged** |
| **12/10/19** | $9775 | $10000 | $10000 |
| **12/31/19** | $9782 | $9999 | $9965 |
| **1/31/20** | $9990 | $10179 | $10200 |
| **2/29/20** | $10060 | $10304 | $10311 |
| **3/31/20** | $9296 | $10143 | $9905 |
| **4/30/20** | $9642 | $10308 | $10150 |
| **5/31/20** | $9821 | $10337 | $10175 |
| **6/30/20** | $10040 | $10388 | $10304 |
| **7/31/20** | $10175 | $10502 | $10453 |
| **8/31/20** | $10161 | $10426 | $10395 |
| **9/30/20** | $10177 | $10464 | $10481 |
| **10/31/20** | $10185 | $10465 | $10539 |
| **11/30/20** | $10341 | $10524 | $10601 |
| **12/31/20** | $10403 | $10557 | $10630 |
| **1/31/21** | $10391 | $10500 | $10583 |
| **2/28/21** | $10300 | $10337 | $10390 |
| **3/31/21** | $10229 | $10296 | $10364 |
| **4/30/21** | $10307 | $10323 | $10343 |
| **5/31/21** | $10345 | $10346 | $10348 |
| **6/30/21** | $10384 | $10396 | $10404 |
| **7/31/21** | $10475 | $10526 | $10587 |
| **8/31/21** | $10487 | $10505 | $10545 |
| **9/30/21** | $10428 | $10405 | $10420 |
| **10/31/21** | $10348 | $10378 | $10364 |
| **11/30/21** | $10319 | $10452 | $10486 |
| **12/31/21** | $10346 | $10410 | $10386 |
| **1/31/22** | $10134 | $10246 | $10204 |
| **2/28/22** | $9954 | $10110 | $9961 |
| **3/31/22** | $9753 | $9892 | $9709 |
| **4/30/22** | $9463 | $9626 | $9359 |
| **5/31/22** | $9415 | $9613 | $9241 |
| **6/30/22** | $9173 | $9467 | $8987 |
| **7/31/22** | $9474 | $9708 | $9398 |
| **8/31/22** | $9171 | $9455 | $8960 |
| **9/30/22** | $8798 | $9151 | $8587 |
| **10/31/22** | $8773 | $9120 | $8579 |
| **11/30/22** | $9079 | $9352 | $8883 |
| **12/31/22** | $9010 | $9242 | $8620 |
| **1/31/23** | $9296 | $9455 | $8871 |
| **2/28/23** | $9132 | $9304 | $8690 |
| **3/31/23** | $9262 | $9510 | $8874 |
| **4/30/23** | $9334 | $9559 | $8913 |
| **5/31/23** | $9279 | $9522 | $8910 |
| **6/30/23** | $9227 | $9516 | $8902 |
| **7/31/23** | $9303 | $9519 | $8939 |
| **8/31/23** | $9294 | $9507 | $8954 |
| **9/30/23** | $9164 | $9343 | $8791 |
| **10/31/23** | $9122 | $9277 | $8791 |
| **11/30/23** | $9453 | $9596 | $9093 |
| **12/31/23** | $9765 | $9902 | $9443 |
| **1/31/24** | $9789 | $9883 | $9410 |
| **2/29/24** | $9692 | $9815 | $9325 |
| **3/31/24** | $9787 | $9904 | $9446 |
| **4/30/24** | $9622 | $9744 | $9309 |
| **5/31/24** | $9729 | $9830 | $9357 |
| **6/30/24** | $9799 | $9916 | $9410 |
| **7/31/24** | $10007 | $10107 | $9614 |
| **8/31/24** | $10105 | $10218 | $9684 |
| **9/30/24** | $10222 | $10337 | $9805 |
| **10/31/24** | $10068 | $10197 | $9723 |
| **11/30/24** | $10187 | $10318 | $9904 |
| **12/31/24** | $10097 | $10239 | $9805 |
| **1/31/25** | $10160 | $10278 | $9830 |
| **2/28/25** | $10324 | $10402 | $9926 |
| **3/31/25** | $10292 | $10359 | $9792 |
| **4/30/25** | $10412 | $10461 | $9952 |
| **5/31/25** | $10393 | $10426 | $9976 |
| **6/30/25** | $10512 | $10526 | $10022 |
| **7/31/25** | $10516 | $10517 | $10050 |
| **8/31/25** | $10626 | $10575 | $10057 |
| **9/30/25** | $10664 | $10653 | $10124 |
| **10/31/25** | $10740 | $10737 | $10228 |
| **11/30/25** | $10788 | $10760 | $10236 |
| **12/31/25** | $10770 | $10737 | $10207 |
| **1/31/26** | $10818 | $10763 | $10282 |
| **2/28/26** | $10949 | $10914 | $10422 |
| **3/31/26** | $10676 | $10720 | $10178 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **Since Inception 12/10/19** |
| Class A (excluding sales charge) | 3.73% | 0.86% | 1.41% |
| Class A (including sales charge) | 1.34% | 0.39% | 1.04% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 1.11% |
| Bloomberg MSCI Global Green Bond Index, USD Hedged | 3.94% | (0.36%) | 0.28% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $43885 |
| # of Portfolio Holdings | 390 |
| Portfolio Turnover Rate | 10% |
| Total Net Advisory Fees Paid During the Reporting Period | $97 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 65.5% |
| Sovereign Issues | 11.2% |
| U.S. Government Agencies | 3.6% |
| Asset-Backed Securities | 1.9% |
| Non-Agency Mortgage-Backed Securities | 1.0% |
| U.S. Treasury Obligations | 0.7% |
| Municipal Bonds & Notes | 0.5% |
| Short-Term Instruments | 12.0% |
| Financial Derivative Instruments | 1.3% |
| Other Assets and Liabilities, Net | 2.3% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PCEBX
![Image](g112232g01x08.jpg)

# PIMCO Climate Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8087TSRAR_033126

# Class C: PCECX

# PIMCO Climate Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Climate Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $169 | 1.67% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to absolute performance, as the 3-month Secured Overnight Financing Rate was accrued.

* Long exposure to investment grade corporate credit contributed to absolute performance, as spreads tightened and spread carry was accrued.

* Long exposure to government related securities contributed to absolute performance, as spreads tightened. 

* Long exposure to eurozone interest rates, specifically the intermediate portion of the curve, detracted from absolute performance, as eurozone interest rates increased. 

* Long exposure to U.S. interest rates, specifically the intermediate portion of the curve detracted from absolute performance, as U.S. interest rates increased. 

* Long exposure to Australian interest rates detracted from absolute performance, as Australian interest rates increased.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g55b23.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg Global Aggregate (USD Hedged) Index** | **Bloomberg MSCI Global Green Bond Index, USD Hedged** |
| **12/10/19** | $10000 | $10000 | $10000 |
| **12/31/19** | $10003 | $9999 | $9965 |
| **1/31/20** | $10208 | $10179 | $10200 |
| **2/29/20** | $10273 | $10304 | $10311 |
| **3/31/20** | $9488 | $10143 | $9905 |
| **4/30/20** | $9835 | $10308 | $10150 |
| **5/31/20** | $10012 | $10337 | $10175 |
| **6/30/20** | $10228 | $10388 | $10304 |
| **7/31/20** | $10360 | $10502 | $10453 |
| **8/31/20** | $10340 | $10426 | $10395 |
| **9/30/20** | $10350 | $10464 | $10481 |
| **10/31/20** | $10350 | $10465 | $10539 |
| **11/30/20** | $10502 | $10524 | $10601 |
| **12/31/20** | $10557 | $10557 | $10630 |
| **1/31/21** | $10539 | $10500 | $10583 |
| **2/28/21** | $10441 | $10337 | $10390 |
| **3/31/21** | $10363 | $10296 | $10364 |
| **4/30/21** | $10435 | $10323 | $10343 |
| **5/31/21** | $10467 | $10346 | $10348 |
| **6/30/21** | $10500 | $10396 | $10404 |
| **7/31/21** | $10585 | $10526 | $10587 |
| **8/31/21** | $10590 | $10505 | $10545 |
| **9/30/21** | $10524 | $10405 | $10420 |
| **10/31/21** | $10436 | $10378 | $10364 |
| **11/30/21** | $10400 | $10452 | $10486 |
| **12/31/21** | $10421 | $10410 | $10386 |
| **1/31/22** | $10201 | $10246 | $10204 |
| **2/28/22** | $10014 | $10110 | $9961 |
| **3/31/22** | $9806 | $9892 | $9709 |
| **4/30/22** | $9507 | $9626 | $9359 |
| **5/31/22** | $9454 | $9613 | $9241 |
| **6/30/22** | $9205 | $9467 | $8987 |
| **7/31/22** | $9501 | $9708 | $9398 |
| **8/31/22** | $9191 | $9455 | $8960 |
| **9/30/22** | $8811 | $9151 | $8587 |
| **10/31/22** | $8781 | $9120 | $8579 |
| **11/30/22** | $9082 | $9352 | $8883 |
| **12/31/22** | $9006 | $9242 | $8620 |
| **1/31/23** | $9287 | $9455 | $8871 |
| **2/28/23** | $9117 | $9304 | $8690 |
| **3/31/23** | $9241 | $9510 | $8874 |
| **4/30/23** | $9308 | $9559 | $8913 |
| **5/31/23** | $9248 | $9522 | $8910 |
| **6/30/23** | $9189 | $9516 | $8902 |
| **7/31/23** | $9259 | $9519 | $8939 |
| **8/31/23** | $9244 | $9507 | $8954 |
| **9/30/23** | $9110 | $9343 | $8791 |
| **10/31/23** | $9061 | $9277 | $8791 |
| **11/30/23** | $9384 | $9596 | $9093 |
| **12/31/23** | $9689 | $9902 | $9443 |
| **1/31/24** | $9706 | $9883 | $9410 |
| **2/29/24** | $9605 | $9815 | $9325 |
| **3/31/24** | $9692 | $9904 | $9446 |
| **4/30/24** | $9524 | $9744 | $9309 |
| **5/31/24** | $9622 | $9830 | $9357 |
| **6/30/24** | $9686 | $9916 | $9410 |
| **7/31/24** | $9885 | $10107 | $9614 |
| **8/31/24** | $9976 | $10218 | $9684 |
| **9/30/24** | $10085 | $10337 | $9805 |
| **10/31/24** | $9927 | $10197 | $9723 |
| **11/30/24** | $10038 | $10318 | $9904 |
| **12/31/24** | $9943 | $10239 | $9805 |
| **1/31/25** | $9999 | $10278 | $9830 |
| **2/28/25** | $10154 | $10402 | $9926 |
| **3/31/25** | $10117 | $10359 | $9792 |
| **4/30/25** | $10228 | $10461 | $9952 |
| **5/31/25** | $10203 | $10426 | $9976 |
| **6/30/25** | $10314 | $10526 | $10022 |
| **7/31/25** | $10311 | $10517 | $10050 |
| **8/31/25** | $10412 | $10575 | $10057 |
| **9/30/25** | $10443 | $10653 | $10124 |
| **10/31/25** | $10510 | $10737 | $10228 |
| **11/30/25** | $10551 | $10760 | $10236 |
| **12/31/25** | $10526 | $10737 | $10207 |
| **1/31/26** | $10567 | $10763 | $10282 |
| **2/28/26** | $10689 | $10914 | $10422 |
| **3/31/26** | $10415 | $10720 | $10178 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **Since Inception 12/10/19** |
| Class C (excluding sales charge) | 2.95% | 0.10% | 0.65% |
| Class C (including sales charge) | 1.96% | 0.10% | 0.65% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 1.11% |
| Bloomberg MSCI Global Green Bond Index, USD Hedged | 3.94% | (0.36%) | 0.28% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $43885 |
| # of Portfolio Holdings | 390 |
| Portfolio Turnover Rate | 10% |
| Total Net Advisory Fees Paid During the Reporting Period | $97 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 65.5% |
| Sovereign Issues | 11.2% |
| U.S. Government Agencies | 3.6% |
| Asset-Backed Securities | 1.9% |
| Non-Agency Mortgage-Backed Securities | 1.0% |
| U.S. Treasury Obligations | 0.7% |
| Municipal Bonds & Notes | 0.5% |
| Short-Term Instruments | 12.0% |
| Financial Derivative Instruments | 1.3% |
| Other Assets and Liabilities, Net | 2.3% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PCECX
![Image](g112232g01x08.jpg)

# PIMCO Climate Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8287TSRAR_033126

# Institutional Class: PCEIX

# PIMCO Climate Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Climate Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $53 | 0.52% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to absolute performance, as the 3-month Secured Overnight Financing Rate was accrued.

* Long exposure to investment grade corporate credit contributed to absolute performance, as spreads tightened and spread carry was accrued.

* Long exposure to government related securities contributed to absolute performance, as spreads tightened. 

* Long exposure to eurozone interest rates, specifically the intermediate portion of the curve, detracted from absolute performance, as eurozone interest rates increased. 

* Long exposure to U.S. interest rates, specifically the intermediate portion of the curve detracted from absolute performance, as U.S. interest rates increased. 

* Long exposure to Australian interest rates detracted from absolute performance, as Australian interest rates increased.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g73z42.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg Global Aggregate (USD Hedged) Index** | **Bloomberg MSCI Global Green Bond Index, USD Hedged** |
| **12/10/19** | $1000000 | $1000000 | $1000000 |
| **12/31/19** | $1000988 | $999870 | $996507 |
| **1/31/20** | $1022541 | $1017914 | $1020013 |
| **2/29/20** | $1030020 | $1030372 | $1031099 |
| **3/31/20** | $952152 | $1014336 | $990513 |
| **4/30/20** | $987943 | $1030757 | $1015000 |
| **5/31/20** | $1006659 | $1033679 | $1017466 |
| **6/30/20** | $1029359 | $1038837 | $1030441 |
| **7/31/20** | $1043580 | $1050190 | $1045262 |
| **8/31/20** | $1042476 | $1042579 | $1039519 |
| **9/30/20** | $1044513 | $1046388 | $1048051 |
| **10/31/20** | $1045651 | $1046464 | $1053852 |
| **11/30/20** | $1062049 | $1052435 | $1060149 |
| **12/31/20** | $1068769 | $1055669 | $1063021 |
| **1/31/21** | $1067851 | $1050006 | $1058271 |
| **2/28/21** | $1058811 | $1033673 | $1039036 |
| **3/31/21** | $1051919 | $1029601 | $1036385 |
| **4/30/21** | $1060295 | $1032292 | $1034330 |
| **5/31/21** | $1064513 | $1034596 | $1034823 |
| **6/30/21** | $1068924 | $1039642 | $1040449 |
| **7/31/21** | $1078689 | $1052563 | $1058672 |
| **8/31/21** | $1080193 | $1050455 | $1054543 |
| **9/30/21** | $1074521 | $1040537 | $1041953 |
| **10/31/21** | $1066666 | $1037816 | $1036448 |
| **11/30/21** | $1063961 | $1045219 | $1048638 |
| **12/31/21** | $1067189 | $1040980 | $1038599 |
| **1/31/22** | $1045624 | $1024625 | $1020429 |
| **2/28/22** | $1027396 | $1010996 | $996116 |
| **3/31/22** | $1006990 | $989202 | $970945 |
| **4/30/22** | $977330 | $962616 | $935878 |
| **5/31/22** | $972728 | $961292 | $924105 |
| **6/30/22** | $948045 | $946703 | $898738 |
| **7/31/22** | $979491 | $970816 | $939757 |
| **8/31/22** | $948503 | $945472 | $895998 |
| **9/30/22** | $910173 | $915120 | $858743 |
| **10/31/22** | $907891 | $911988 | $857862 |
| **11/30/22** | $939895 | $935229 | $888338 |
| **12/31/22** | $933044 | $924191 | $861967 |
| **1/31/23** | $963068 | $945478 | $887054 |
| **2/28/23** | $946285 | $930397 | $869024 |
| **3/31/23** | $960145 | $951028 | $887398 |
| **4/30/23** | $967882 | $955924 | $891341 |
| **5/31/23** | $962548 | $952161 | $891013 |
| **6/30/23** | $957472 | $951593 | $890224 |
| **7/31/23** | $965630 | $951901 | $893859 |
| **8/31/23** | $965014 | $950705 | $895414 |
| **9/30/23** | $951917 | $934310 | $879065 |
| **10/31/23** | $947762 | $927676 | $879120 |
| **11/30/23** | $982471 | $959572 | $909279 |
| **12/31/23** | $1015338 | $990239 | $944305 |
| **1/31/24** | $1018122 | $988298 | $941023 |
| **2/29/24** | $1008385 | $981516 | $932470 |
| **3/31/24** | $1018533 | $990367 | $944557 |
| **4/30/24** | $1001793 | $974421 | $930939 |
| **5/31/24** | $1013241 | $983044 | $935736 |
| **6/30/24** | $1020847 | $991574 | $940972 |
| **7/31/24** | $1042840 | $1010730 | $961442 |
| **8/31/24** | $1053466 | $1021800 | $968409 |
| **9/30/24** | $1065933 | $1033657 | $980498 |
| **10/31/24** | $1050282 | $1019669 | $972282 |
| **11/30/24** | $1063053 | $1031781 | $990351 |
| **12/31/24** | $1054054 | $1023863 | $980512 |
| **1/31/25** | $1060964 | $1027830 | $983030 |
| **2/28/25** | $1078380 | $1040206 | $992631 |
| **3/31/25** | $1075394 | $1035866 | $979219 |
| **4/30/25** | $1088225 | $1046065 | $995243 |
| **5/31/25** | $1086683 | $1042606 | $997626 |
| **6/30/25** | $1099458 | $1052591 | $1002227 |
| **7/31/25** | $1100239 | $1051748 | $1004966 |
| **8/31/25** | $1112107 | $1057512 | $1005749 |
| **9/30/25** | $1116446 | $1065301 | $1012417 |
| **10/31/25** | $1124791 | $1073711 | $1022821 |
| **11/30/25** | $1130224 | $1075968 | $1023603 |
| **12/31/25** | $1128688 | $1073662 | $1020693 |
| **1/31/26** | $1134149 | $1076257 | $1028215 |
| **2/28/26** | $1148246 | $1091386 | $1042224 |
| **3/31/26** | $1119909 | $1072013 | $1017765 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **Since Inception 12/10/19** |
| Institutional Class | 4.14% | 1.26% | 1.81% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 1.11% |
| Bloomberg MSCI Global Green Bond Index, USD Hedged | 3.94% | (0.36%) | 0.28% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $43885 |
| # of Portfolio Holdings | 390 |
| Portfolio Turnover Rate | 10% |
| Total Net Advisory Fees Paid During the Reporting Period | $97 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 65.5% |
| Sovereign Issues | 11.2% |
| U.S. Government Agencies | 3.6% |
| Asset-Backed Securities | 1.9% |
| Non-Agency Mortgage-Backed Securities | 1.0% |
| U.S. Treasury Obligations | 0.7% |
| Municipal Bonds & Notes | 0.5% |
| Short-Term Instruments | 12.0% |
| Financial Derivative Instruments | 1.3% |
| Other Assets and Liabilities, Net | 2.3% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PCEIX
![Image](g112232g01x08.jpg)

# PIMCO Climate Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2213TSRAR_033126

# I-2: PCEPX

# PIMCO Climate Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Climate Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $63 | 0.62% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to absolute performance, as the 3-month Secured Overnight Financing Rate was accrued.

* Long exposure to investment grade corporate credit contributed to absolute performance, as spreads tightened and spread carry was accrued.

* Long exposure to government related securities contributed to absolute performance, as spreads tightened. 

* Long exposure to eurozone interest rates, specifically the intermediate portion of the curve, detracted from absolute performance, as eurozone interest rates increased. 

* Long exposure to U.S. interest rates, specifically the intermediate portion of the curve detracted from absolute performance, as U.S. interest rates increased. 

* Long exposure to Australian interest rates detracted from absolute performance, as Australian interest rates increased.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g54k65.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg Global Aggregate (USD Hedged) Index** | **Bloomberg MSCI Global Green Bond Index, USD Hedged** |
| **12/10/19** | $1000000 | $1000000 | $1000000 |
| **12/31/19** | $1000912 | $999870 | $996507 |
| **1/31/20** | $1022342 | $1017914 | $1020013 |
| **2/29/20** | $1029721 | $1030372 | $1031099 |
| **3/31/20** | $951776 | $1014336 | $990513 |
| **4/30/20** | $987464 | $1030757 | $1015000 |
| **5/31/20** | $1006059 | $1033679 | $1017466 |
| **6/30/20** | $1028637 | $1038837 | $1030441 |
| **7/31/20** | $1042752 | $1050190 | $1045262 |
| **8/31/20** | $1041560 | $1042579 | $1039519 |
| **9/30/20** | $1043507 | $1046388 | $1048051 |
| **10/31/20** | $1044552 | $1046464 | $1053852 |
| **11/30/20** | $1060847 | $1052435 | $1060149 |
| **12/31/20** | $1067452 | $1055669 | $1063021 |
| **1/31/21** | $1066472 | $1050006 | $1058271 |
| **2/28/21** | $1057387 | $1033673 | $1039036 |
| **3/31/21** | $1050424 | $1029601 | $1036385 |
| **4/30/21** | $1058696 | $1032292 | $1034330 |
| **5/31/21** | $1062824 | $1034596 | $1034823 |
| **6/30/21** | $1067144 | $1039642 | $1040449 |
| **7/31/21** | $1076800 | $1052563 | $1058672 |
| **8/31/21** | $1078212 | $1050455 | $1054543 |
| **9/30/21** | $1072462 | $1040537 | $1041953 |
| **10/31/21** | $1064530 | $1037816 | $1036448 |
| **11/30/21** | $1061744 | $1045219 | $1048638 |
| **12/31/21** | $1064864 | $1040980 | $1038599 |
| **1/31/22** | $1043241 | $1024625 | $1020429 |
| **2/28/22** | $1024976 | $1010996 | $996116 |
| **3/31/22** | $1004532 | $989202 | $970945 |
| **4/30/22** | $974864 | $962616 | $935878 |
| **5/31/22** | $970195 | $961292 | $924105 |
| **6/30/22** | $945498 | $946703 | $898738 |
| **7/31/22** | $976778 | $970816 | $939757 |
| **8/31/22** | $945794 | $945472 | $895998 |
| **9/30/22** | $907491 | $915120 | $858743 |
| **10/31/22** | $905144 | $911988 | $857862 |
| **11/30/22** | $936971 | $935229 | $888338 |
| **12/31/22** | $930057 | $924191 | $861967 |
| **1/31/23** | $959910 | $945478 | $887054 |
| **2/28/23** | $943109 | $930397 | $869024 |
| **3/31/23** | $956835 | $951028 | $887398 |
| **4/30/23** | $964472 | $955924 | $891341 |
| **5/31/23** | $959076 | $952161 | $891013 |
| **6/30/23** | $953934 | $951593 | $890224 |
| **7/31/23** | $961984 | $951901 | $893859 |
| **8/31/23** | $961289 | $950705 | $895414 |
| **9/30/23** | $948156 | $934310 | $879065 |
| **10/31/23** | $943939 | $927676 | $879120 |
| **11/30/23** | $978430 | $959572 | $909279 |
| **12/31/23** | $1011073 | $990239 | $944305 |
| **1/31/24** | $1013762 | $988298 | $941023 |
| **2/29/24** | $1003986 | $981516 | $932470 |
| **3/31/24** | $1014000 | $990367 | $944557 |
| **4/30/24** | $997252 | $974421 | $930939 |
| **5/31/24** | $1008556 | $983044 | $935736 |
| **6/30/24** | $1016048 | $991574 | $940972 |
| **7/31/24** | $1037846 | $1010730 | $961442 |
| **8/31/24** | $1048324 | $1021800 | $968409 |
| **9/30/24** | $1060647 | $1033657 | $980498 |
| **10/31/24** | $1044985 | $1019669 | $972282 |
| **11/30/24** | $1057597 | $1031781 | $990351 |
| **12/31/24** | $1048553 | $1023863 | $980512 |
| **1/31/25** | $1055334 | $1027830 | $983030 |
| **2/28/25** | $1072573 | $1040206 | $992631 |
| **3/31/25** | $1069519 | $1035866 | $979219 |
| **4/30/25** | $1082193 | $1046065 | $995243 |
| **5/31/25** | $1080566 | $1042606 | $997626 |
| **6/30/25** | $1093189 | $1052591 | $1002227 |
| **7/31/25** | $1093882 | $1051748 | $1004966 |
| **8/31/25** | $1105587 | $1057512 | $1005749 |
| **9/30/25** | $1109810 | $1065301 | $1012417 |
| **10/31/25** | $1118006 | $1073711 | $1022821 |
| **11/30/25** | $1123320 | $1075968 | $1023603 |
| **12/31/25** | $1121695 | $1073662 | $1020693 |
| **1/31/26** | $1127027 | $1076257 | $1028215 |
| **2/28/26** | $1140948 | $1091386 | $1042224 |
| **3/31/26** | $1112700 | $1072013 | $1017765 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **Since Inception 12/10/19** |
| I-2 | 4.04% | 1.16% | 1.71% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 1.11% |
| Bloomberg MSCI Global Green Bond Index, USD Hedged | 3.94% | (0.36%) | 0.28% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $43885 |
| # of Portfolio Holdings | 390 |
| Portfolio Turnover Rate | 10% |
| Total Net Advisory Fees Paid During the Reporting Period | $97 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 65.5% |
| Sovereign Issues | 11.2% |
| U.S. Government Agencies | 3.6% |
| Asset-Backed Securities | 1.9% |
| Non-Agency Mortgage-Backed Securities | 1.0% |
| U.S. Treasury Obligations | 0.7% |
| Municipal Bonds & Notes | 0.5% |
| Short-Term Instruments | 12.0% |
| Financial Derivative Instruments | 1.3% |
| Other Assets and Liabilities, Net | 2.3% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PCEPX
![Image](g112232g01x08.jpg)

# PIMCO Climate Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2214TSRAR_033126

# I-3: PCEWX

# PIMCO Climate Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Climate Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $68 | 0.67% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to absolute performance, as the 3-month Secured Overnight Financing Rate was accrued.

* Long exposure to investment grade corporate credit contributed to absolute performance, as spreads tightened and spread carry was accrued.

* Long exposure to government related securities contributed to absolute performance, as spreads tightened. 

* Long exposure to eurozone interest rates, specifically the intermediate portion of the curve, detracted from absolute performance, as eurozone interest rates increased. 

* Long exposure to U.S. interest rates, specifically the intermediate portion of the curve detracted from absolute performance, as U.S. interest rates increased. 

* Long exposure to Australian interest rates detracted from absolute performance, as Australian interest rates increased.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g53y97.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-3** | **Bloomberg Global Aggregate (USD Hedged) Index** | **Bloomberg MSCI Global Green Bond Index, USD Hedged** |
| **12/10/19** | $1000000 | $1000000 | $1000000 |
| **12/31/19** | $1000890 | $999870 | $996507 |
| **1/31/20** | $1022283 | $1017914 | $1020013 |
| **2/29/20** | $1029605 | $1030372 | $1031099 |
| **3/31/20** | $951629 | $1014336 | $990513 |
| **4/30/20** | $987278 | $1030757 | $1015000 |
| **5/31/20** | $1005855 | $1033679 | $1017466 |
| **6/30/20** | $1028405 | $1038837 | $1030441 |
| **7/31/20** | $1042465 | $1050190 | $1045262 |
| **8/31/20** | $1041236 | $1042579 | $1039519 |
| **9/30/20** | $1043146 | $1046388 | $1048051 |
| **10/31/20** | $1044169 | $1046464 | $1053852 |
| **11/30/20** | $1060413 | $1052435 | $1060149 |
| **12/31/20** | $1066973 | $1055669 | $1063021 |
| **1/31/21** | $1065932 | $1050006 | $1058271 |
| **2/28/21** | $1056778 | $1033673 | $1039036 |
| **3/31/21** | $1049761 | $1029601 | $1036385 |
| **4/30/21** | $1057970 | $1032292 | $1034330 |
| **5/31/21** | $1062053 | $1034596 | $1034823 |
| **6/30/21** | $1066317 | $1039642 | $1040449 |
| **7/31/21** | $1075915 | $1052563 | $1058672 |
| **8/31/21** | $1077279 | $1050455 | $1054543 |
| **9/30/21** | $1071485 | $1040537 | $1041953 |
| **10/31/21** | $1063513 | $1037816 | $1036448 |
| **11/30/21** | $1060691 | $1045219 | $1048638 |
| **12/31/21** | $1063771 | $1040980 | $1038599 |
| **1/31/22** | $1042157 | $1024625 | $1020429 |
| **2/28/22** | $1023873 | $1010996 | $996116 |
| **3/31/22** | $1003407 | $989202 | $970945 |
| **4/30/22** | $973730 | $962616 | $935878 |
| **5/31/22** | $969027 | $961292 | $924105 |
| **6/30/22** | $944321 | $946703 | $898738 |
| **7/31/22** | $975519 | $970816 | $939757 |
| **8/31/22** | $944536 | $945472 | $895998 |
| **9/30/22** | $906246 | $915120 | $858743 |
| **10/31/22** | $903866 | $911988 | $857862 |
| **11/30/22** | $935616 | $935229 | $888338 |
| **12/31/22** | $928674 | $924191 | $861967 |
| **1/31/23** | $958447 | $945478 | $887054 |
| **2/28/23** | $941635 | $930397 | $869024 |
| **3/31/23** | $955301 | $951028 | $887398 |
| **4/30/23** | $962890 | $955924 | $891341 |
| **5/31/23** | $957462 | $952161 | $891013 |
| **6/30/23** | $952287 | $951593 | $890224 |
| **7/31/23** | $960287 | $951901 | $893859 |
| **8/31/23** | $959555 | $950705 | $895414 |
| **9/30/23** | $946412 | $934310 | $879065 |
| **10/31/23** | $942167 | $927676 | $879120 |
| **11/30/23** | $976579 | $959572 | $909279 |
| **12/31/23** | $1009120 | $990239 | $944305 |
| **1/31/24** | $1011770 | $988298 | $941023 |
| **2/29/24** | $1001974 | $981516 | $932470 |
| **3/31/24** | $1011930 | $990367 | $944557 |
| **4/30/24** | $995170 | $974421 | $930939 |
| **5/31/24** | $1006407 | $983044 | $935736 |
| **6/30/24** | $1013846 | $991574 | $940972 |
| **7/31/24** | $1035573 | $1010730 | $961442 |
| **8/31/24** | $1045982 | $1021800 | $968409 |
| **9/30/24** | $1058241 | $1033657 | $980498 |
| **10/31/24** | $1042570 | $1019669 | $972282 |
| **11/30/24** | $1055114 | $1031781 | $990351 |
| **12/31/24** | $1046050 | $1023863 | $980512 |
| **1/31/25** | $1052771 | $1027830 | $983030 |
| **2/28/25** | $1069929 | $1040206 | $992631 |
| **3/31/25** | $1066838 | $1035866 | $979219 |
| **4/30/25** | $1079430 | $1046065 | $995243 |
| **5/31/25** | $1077762 | $1042606 | $997626 |
| **6/30/25** | $1090303 | $1052591 | $1002227 |
| **7/31/25** | $1090938 | $1051748 | $1004966 |
| **8/31/25** | $1102559 | $1057512 | $1005749 |
| **9/30/25** | $1106728 | $1065301 | $1012417 |
| **10/31/25** | $1114851 | $1073711 | $1022821 |
| **11/30/25** | $1120107 | $1075968 | $1023603 |
| **12/31/25** | $1118438 | $1073662 | $1020693 |
| **1/31/26** | $1123707 | $1076257 | $1028215 |
| **2/28/26** | $1137544 | $1091386 | $1042224 |
| **3/31/26** | $1109334 | $1072013 | $1017765 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **Since Inception 12/10/19** |
| I-3 | 3.98% | 1.11% | 1.66% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 1.11% |
| Bloomberg MSCI Global Green Bond Index, USD Hedged | 3.94% | (0.36%) | 0.28% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $43885 |
| # of Portfolio Holdings | 390 |
| Portfolio Turnover Rate | 10% |
| Total Net Advisory Fees Paid During the Reporting Period | $97 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 65.5% |
| Sovereign Issues | 11.2% |
| U.S. Government Agencies | 3.6% |
| Asset-Backed Securities | 1.9% |
| Non-Agency Mortgage-Backed Securities | 1.0% |
| U.S. Treasury Obligations | 0.7% |
| Municipal Bonds & Notes | 0.5% |
| Short-Term Instruments | 12.0% |
| Financial Derivative Instruments | 1.3% |
| Other Assets and Liabilities, Net | 2.3% |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PCEWX
![Image](g112232g01x08.jpg)

# PIMCO Climate Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2215TSRAR_033126

# Class A: PUBAX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $123 | 1.20% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g28b07.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $9622 | $10000 | $10000 |
| **4/30/16** | $9782 | $10017 | $10005 |
| **5/31/16** | $9818 | $10059 | $10011 |
| **6/30/16** | $9787 | $10251 | $10016 |
| **7/31/16** | $9916 | $10312 | $10021 |
| **8/31/16** | $9970 | $10307 | $10026 |
| **9/30/16** | $10060 | $10306 | $10032 |
| **10/31/16** | $10163 | $10206 | $10039 |
| **11/30/16** | $10096 | $10037 | $10046 |
| **12/31/16** | $10208 | $10065 | $10053 |
| **1/31/17** | $10312 | $10028 | $10061 |
| **2/28/17** | $10409 | $10114 | $10069 |
| **3/31/17** | $10493 | $10109 | $10078 |
| **4/30/17** | $10515 | $10178 | $10087 |
| **5/31/17** | $10576 | $10237 | $10097 |
| **6/30/17** | $10611 | $10208 | $10107 |
| **7/31/17** | $10654 | $10242 | $10118 |
| **8/31/17** | $10748 | $10335 | $10128 |
| **9/30/17** | $10794 | $10288 | $10139 |
| **10/31/17** | $10811 | $10331 | $10151 |
| **11/30/17** | $10830 | $10347 | $10162 |
| **12/31/17** | $10818 | $10370 | $10173 |
| **1/31/18** | $10857 | $10296 | $10188 |
| **2/28/18** | $10868 | $10273 | $10202 |
| **3/31/18** | $10874 | $10358 | $10216 |
| **4/30/18** | $10870 | $10320 | $10236 |
| **5/31/18** | $10949 | $10358 | $10256 |
| **6/30/18** | $10931 | $10377 | $10275 |
| **7/31/18** | $10981 | $10380 | $10295 |
| **8/31/18** | $10982 | $10412 | $10315 |
| **9/30/18** | $10986 | $10372 | $10335 |
| **10/31/18** | $11024 | $10352 | $10356 |
| **11/30/18** | $10975 | $10403 | $10377 |
| **12/31/18** | $10987 | $10553 | $10397 |
| **1/31/19** | $11123 | $10665 | $10421 |
| **2/28/19** | $11157 | $10678 | $10446 |
| **3/31/19** | $11220 | $10869 | $10470 |
| **4/30/19** | $11273 | $10875 | $10493 |
| **5/31/19** | $11306 | $11032 | $10516 |
| **6/30/19** | $11357 | $11186 | $10538 |
| **7/31/19** | $11367 | $11274 | $10559 |
| **8/31/19** | $11227 | $11530 | $10579 |
| **9/30/19** | $11253 | $11477 | $10600 |
| **10/31/19** | $11311 | $11457 | $10618 |
| **11/30/19** | $11360 | $11443 | $10637 |
| **12/31/19** | $11470 | $11420 | $10656 |
| **1/31/20** | $11474 | $11626 | $10673 |
| **2/29/20** | $11441 | $11768 | $10690 |
| **3/31/20** | $10861 | $11585 | $10708 |
| **4/30/20** | $11147 | $11773 | $10721 |
| **5/31/20** | $11338 | $11806 | $10734 |
| **6/30/20** | $11546 | $11865 | $10747 |
| **7/31/20** | $11662 | $11995 | $10749 |
| **8/31/20** | $11759 | $11908 | $10752 |
| **9/30/20** | $11775 | $11951 | $10755 |
| **10/31/20** | $11821 | $11952 | $10757 |
| **11/30/20** | $11918 | $12020 | $10759 |
| **12/31/20** | $12044 | $12057 | $10761 |
| **1/31/21** | $12103 | $11993 | $10763 |
| **2/28/21** | $12143 | $11806 | $10765 |
| **3/31/21** | $12131 | $11760 | $10768 |
| **4/30/21** | $12164 | $11790 | $10769 |
| **5/31/21** | $12183 | $11817 | $10771 |
| **6/30/21** | $12157 | $11874 | $10773 |
| **7/31/21** | $12161 | $12022 | $10774 |
| **8/31/21** | $12162 | $11998 | $10776 |
| **9/30/21** | $12152 | $11884 | $10777 |
| **10/31/21** | $12030 | $11853 | $10778 |
| **11/30/21** | $12008 | $11938 | $10779 |
| **12/31/21** | $12033 | $11890 | $10781 |
| **1/31/22** | $11954 | $11703 | $10783 |
| **2/28/22** | $11842 | $11547 | $10785 |
| **3/31/22** | $11649 | $11298 | $10787 |
| **4/30/22** | $11448 | $10994 | $10796 |
| **5/31/22** | $11475 | $10979 | $10805 |
| **6/30/22** | $11231 | $10813 | $10814 |
| **7/31/22** | $11422 | $11088 | $10828 |
| **8/31/22** | $11247 | $10799 | $10850 |
| **9/30/22** | $10983 | $10452 | $10872 |
| **10/31/22** | $10998 | $10416 | $10900 |
| **11/30/22** | $11144 | $10682 | $10934 |
| **12/31/22** | $11160 | $10556 | $10972 |
| **1/31/23** | $11345 | $10799 | $11013 |
| **2/28/23** | $11260 | $10626 | $11052 |
| **3/31/23** | $11308 | $10862 | $11096 |
| **4/30/23** | $11354 | $10918 | $11140 |
| **5/31/23** | $11357 | $10875 | $11188 |
| **6/30/23** | $11398 | $10869 | $11236 |
| **7/31/23** | $11485 | $10872 | $11285 |
| **8/31/23** | $11501 | $10858 | $11336 |
| **9/30/23** | $11433 | $10671 | $11387 |
| **10/31/23** | $11340 | $10595 | $11439 |
| **11/30/23** | $11690 | $10960 | $11490 |
| **12/31/23** | $11932 | $11310 | $11543 |
| **1/31/24** | $11993 | $11288 | $11596 |
| **2/29/24** | $12007 | $11210 | $11645 |
| **3/31/24** | $12127 | $11311 | $11699 |
| **4/30/24** | $12076 | $11129 | $11751 |
| **5/31/24** | $12202 | $11228 | $11805 |
| **6/30/24** | $12220 | $11325 | $11854 |
| **7/31/24** | $12366 | $11544 | $11912 |
| **8/31/24** | $12466 | $11670 | $11967 |
| **9/30/24** | $12610 | $11806 | $12018 |
| **10/31/24** | $12553 | $11646 | $12068 |
| **11/30/24** | $12706 | $11784 | $12116 |
| **12/31/24** | $12729 | $11694 | $12163 |
| **1/31/25** | $12831 | $11739 | $12208 |
| **2/28/25** | $12977 | $11881 | $12250 |
| **3/31/25** | $13026 | $11831 | $12295 |
| **4/30/25** | $13011 | $11948 | $12340 |
| **5/31/25** | $13038 | $11908 | $12386 |
| **6/30/25** | $13257 | $12022 | $12430 |
| **7/31/25** | $13260 | $12013 | $12477 |
| **8/31/25** | $13463 | $12078 | $12524 |
| **9/30/25** | $13571 | $12167 | $12569 |
| **10/31/25** | $13714 | $12263 | $12614 |
| **11/30/25** | $13766 | $12289 | $12656 |
| **12/31/25** | $13854 | $12263 | $12697 |
| **1/31/26** | $13944 | $12292 | $12738 |
| **2/28/26** | $13983 | $12465 | $12774 |
| **3/31/26** | $13719 | $12244 | $12814 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 5.32% | 2.49% | 3.61% |
| Class A (including sales charge) | 1.40% | 1.71% | 3.21% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PUBAX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4086TSRAR_033126

# Class C: PUBCX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $199 | 1.95% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g57l15.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10159 | $10017 | $10005 |
| **5/31/16** | $10191 | $10059 | $10011 |
| **6/30/16** | $10143 | $10251 | $10016 |
| **7/31/16** | $10270 | $10312 | $10021 |
| **8/31/16** | $10319 | $10307 | $10026 |
| **9/30/16** | $10405 | $10306 | $10032 |
| **10/31/16** | $10506 | $10206 | $10039 |
| **11/30/16** | $10429 | $10037 | $10046 |
| **12/31/16** | $10538 | $10065 | $10053 |
| **1/31/17** | $10639 | $10028 | $10061 |
| **2/28/17** | $10734 | $10114 | $10069 |
| **3/31/17** | $10812 | $10109 | $10078 |
| **4/30/17** | $10830 | $10178 | $10087 |
| **5/31/17** | $10886 | $10237 | $10097 |
| **6/30/17** | $10914 | $10208 | $10107 |
| **7/31/17** | $10952 | $10242 | $10118 |
| **8/31/17** | $11042 | $10335 | $10128 |
| **9/30/17** | $11082 | $10288 | $10139 |
| **10/31/17** | $11092 | $10331 | $10151 |
| **11/30/17** | $11105 | $10347 | $10162 |
| **12/31/17** | $11086 | $10370 | $10173 |
| **1/31/18** | $11119 | $10296 | $10188 |
| **2/28/18** | $11123 | $10273 | $10202 |
| **3/31/18** | $11122 | $10358 | $10216 |
| **4/30/18** | $11111 | $10320 | $10236 |
| **5/31/18** | $11185 | $10358 | $10256 |
| **6/30/18** | $11159 | $10377 | $10275 |
| **7/31/18** | $11203 | $10380 | $10295 |
| **8/31/18** | $11197 | $10412 | $10315 |
| **9/30/18** | $11195 | $10372 | $10335 |
| **10/31/18** | $11227 | $10352 | $10356 |
| **11/30/18** | $11169 | $10403 | $10377 |
| **12/31/18** | $11175 | $10553 | $10397 |
| **1/31/19** | $11305 | $10665 | $10421 |
| **2/28/19** | $11334 | $10678 | $10446 |
| **3/31/19** | $11391 | $10869 | $10470 |
| **4/30/19** | $11437 | $10875 | $10493 |
| **5/31/19** | $11463 | $11032 | $10516 |
| **6/30/19** | $11508 | $11186 | $10538 |
| **7/31/19** | $11511 | $11274 | $10559 |
| **8/31/19** | $11362 | $11530 | $10579 |
| **9/30/19** | $11382 | $11477 | $10600 |
| **10/31/19** | $11432 | $11457 | $10618 |
| **11/30/19** | $11475 | $11443 | $10637 |
| **12/31/19** | $11579 | $11420 | $10656 |
| **1/31/20** | $11575 | $11626 | $10673 |
| **2/29/20** | $11536 | $11768 | $10690 |
| **3/31/20** | $10943 | $11585 | $10708 |
| **4/30/20** | $11225 | $11773 | $10721 |
| **5/31/20** | $11410 | $11806 | $10734 |
| **6/30/20** | $11613 | $11865 | $10747 |
| **7/31/20** | $11721 | $11995 | $10749 |
| **8/31/20** | $11812 | $11908 | $10752 |
| **9/30/20** | $11820 | $11951 | $10755 |
| **10/31/20** | $11858 | $11952 | $10757 |
| **11/30/20** | $11949 | $12020 | $10759 |
| **12/31/20** | $12066 | $12057 | $10761 |
| **1/31/21** | $12119 | $11993 | $10763 |
| **2/28/21** | $12152 | $11806 | $10765 |
| **3/31/21** | $12132 | $11760 | $10768 |
| **4/30/21** | $12157 | $11790 | $10769 |
| **5/31/21** | $12169 | $11817 | $10771 |
| **6/30/21** | $12135 | $11874 | $10773 |
| **7/31/21** | $12130 | $12022 | $10774 |
| **8/31/21** | $12125 | $11998 | $10776 |
| **9/30/21** | $12107 | $11884 | $10777 |
| **10/31/21** | $11977 | $11853 | $10778 |
| **11/30/21** | $11949 | $11938 | $10779 |
| **12/31/21** | $11965 | $11890 | $10781 |
| **1/31/22** | $11880 | $11703 | $10783 |
| **2/28/22** | $11762 | $11547 | $10785 |
| **3/31/22** | $11562 | $11298 | $10787 |
| **4/30/22** | $11355 | $10994 | $10796 |
| **5/31/22** | $11375 | $10979 | $10805 |
| **6/30/22** | $11127 | $10813 | $10814 |
| **7/31/22** | $11309 | $11088 | $10828 |
| **8/31/22** | $11128 | $10799 | $10850 |
| **9/30/22** | $10860 | $10452 | $10872 |
| **10/31/22** | $10868 | $10416 | $10900 |
| **11/30/22** | $11006 | $10682 | $10934 |
| **12/31/22** | $11013 | $10556 | $10972 |
| **1/31/23** | $11190 | $10799 | $11013 |
| **2/28/23** | $11100 | $10626 | $11052 |
| **3/31/23** | $11140 | $10862 | $11096 |
| **4/30/23** | $11178 | $10918 | $11140 |
| **5/31/23** | $11174 | $10875 | $11188 |
| **6/30/23** | $11208 | $10869 | $11236 |
| **7/31/23** | $11286 | $10872 | $11285 |
| **8/31/23** | $11294 | $10858 | $11336 |
| **9/30/23** | $11221 | $10671 | $11387 |
| **10/31/23** | $11123 | $10595 | $11439 |
| **11/30/23** | $11459 | $10960 | $11490 |
| **12/31/23** | $11689 | $11310 | $11543 |
| **1/31/24** | $11741 | $11288 | $11596 |
| **2/29/24** | $11747 | $11210 | $11645 |
| **3/31/24** | $11858 | $11311 | $11699 |
| **4/30/24** | $11800 | $11129 | $11751 |
| **5/31/24** | $11916 | $11228 | $11805 |
| **6/30/24** | $11926 | $11325 | $11854 |
| **7/31/24** | $12062 | $11544 | $11912 |
| **8/31/24** | $12151 | $11670 | $11967 |
| **9/30/24** | $12283 | $11806 | $12018 |
| **10/31/24** | $12220 | $11646 | $12068 |
| **11/30/24** | $12361 | $11784 | $12116 |
| **12/31/24** | $12376 | $11694 | $12163 |
| **1/31/25** | $12467 | $11739 | $12208 |
| **2/28/25** | $12601 | $11881 | $12250 |
| **3/31/25** | $12641 | $11831 | $12295 |
| **4/30/25** | $12620 | $11948 | $12340 |
| **5/31/25** | $12637 | $11908 | $12386 |
| **6/30/25** | $12842 | $12022 | $12430 |
| **7/31/25** | $12836 | $12013 | $12477 |
| **8/31/25** | $13024 | $12078 | $12524 |
| **9/30/25** | $13121 | $12167 | $12569 |
| **10/31/25** | $13251 | $12263 | $12614 |
| **11/30/25** | $13294 | $12289 | $12656 |
| **12/31/25** | $13369 | $12263 | $12697 |
| **1/31/26** | $13448 | $12292 | $12738 |
| **2/28/26** | $13478 | $12465 | $12774 |
| **3/31/26** | $13215 | $12244 | $12814 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 4.53% | 1.72% | 2.83% |
| Class C (including sales charge) | 3.53% | 1.72% | 2.83% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PUBCX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4286TSRAR_033126

# Institutional Class: PFIUX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $82 | 0.80% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g76v23.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1016904 | $1001698 | $1000526 |
| **5/31/16** | $1021028 | $1005932 | $1001052 |
| **6/30/16** | $1018151 | $1025081 | $1001578 |
| **7/31/16** | $1031907 | $1031206 | $1002105 |
| **8/31/16** | $1037899 | $1030680 | $1002632 |
| **9/30/16** | $1047590 | $1030557 | $1003159 |
| **10/31/16** | $1058662 | $1020565 | $1003860 |
| **11/30/16** | $1051993 | $1003709 | $1004560 |
| **12/31/16** | $1064056 | $1006459 | $1005261 |
| **1/31/17** | $1075222 | $1002793 | $1006097 |
| **2/28/17** | $1085717 | $1011378 | $1006934 |
| **3/31/17** | $1094813 | $1010911 | $1007772 |
| **4/30/17** | $1097531 | $1017767 | $1008736 |
| **5/31/17** | $1104282 | $1023707 | $1009699 |
| **6/30/17** | $1108265 | $1020842 | $1010664 |
| **7/31/17** | $1113144 | $1024198 | $1011756 |
| **8/31/17** | $1123327 | $1033532 | $1012848 |
| **9/30/17** | $1128497 | $1028761 | $1013943 |
| **10/31/17** | $1130649 | $1033100 | $1015069 |
| **11/30/17** | $1132986 | $1034700 | $1016196 |
| **12/31/17** | $1132177 | $1037013 | $1017325 |
| **1/31/18** | $1136653 | $1029610 | $1018760 |
| **2/28/18** | $1138073 | $1027288 | $1020198 |
| **3/31/18** | $1139138 | $1035806 | $1021638 |
| **4/30/18** | $1139079 | $1031952 | $1023597 |
| **5/31/18** | $1147750 | $1035807 | $1025561 |
| **6/30/18** | $1146212 | $1037738 | $1027529 |
| **7/31/18** | $1151833 | $1038022 | $1029527 |
| **8/31/18** | $1152382 | $1041212 | $1031530 |
| **9/30/18** | $1153155 | $1037229 | $1033537 |
| **10/31/18** | $1157597 | $1035202 | $1035592 |
| **11/30/18** | $1152764 | $1040267 | $1037651 |
| **12/31/18** | $1154475 | $1055294 | $1039715 |
| **1/31/19** | $1169065 | $1066471 | $1042143 |
| **2/28/19** | $1173066 | $1067753 | $1044577 |
| **3/31/19** | $1180051 | $1086877 | $1047017 |
| **4/30/19** | $1186005 | $1087524 | $1049286 |
| **5/31/19** | $1189908 | $1103173 | $1051561 |
| **6/30/19** | $1195677 | $1118641 | $1053840 |
| **7/31/19** | $1197153 | $1127444 | $1055886 |
| **8/31/19** | $1182842 | $1153012 | $1057936 |
| **9/30/19** | $1185950 | $1147669 | $1059991 |
| **10/31/19** | $1192373 | $1145688 | $1061850 |
| **11/30/19** | $1198001 | $1144344 | $1063711 |
| **12/31/19** | $1209976 | $1141998 | $1065577 |
| **1/31/20** | $1210822 | $1162607 | $1067304 |
| **2/29/20** | $1207762 | $1176836 | $1069033 |
| **3/31/20** | $1146838 | $1158521 | $1070765 |
| **4/30/20** | $1177415 | $1177276 | $1072060 |
| **5/31/20** | $1198065 | $1180613 | $1073355 |
| **6/30/20** | $1220469 | $1186505 | $1074652 |
| **7/31/20** | $1233136 | $1199470 | $1074928 |
| **8/31/20** | $1243806 | $1190779 | $1075203 |
| **9/30/20** | $1245876 | $1195129 | $1075480 |
| **10/31/20** | $1251172 | $1195216 | $1075677 |
| **11/30/20** | $1261894 | $1202035 | $1075874 |
| **12/31/20** | $1275645 | $1205728 | $1076072 |
| **1/31/21** | $1282333 | $1199261 | $1076299 |
| **2/28/21** | $1286950 | $1180606 | $1076527 |
| **3/31/21** | $1286088 | $1175955 | $1076755 |
| **4/30/21** | $1290073 | $1179029 | $1076937 |
| **5/31/21** | $1292503 | $1181661 | $1077119 |
| **6/30/21** | $1290102 | $1187424 | $1077300 |
| **7/31/21** | $1290966 | $1202182 | $1077433 |
| **8/31/21** | $1291556 | $1199773 | $1077565 |
| **9/30/21** | $1290945 | $1188446 | $1077697 |
| **10/31/21** | $1278335 | $1185338 | $1077815 |
| **11/30/21** | $1276475 | $1193793 | $1077933 |
| **12/31/21** | $1279585 | $1188952 | $1078052 |
| **1/31/22** | $1271602 | $1170272 | $1078252 |
| **2/28/22** | $1260113 | $1154705 | $1078453 |
| **3/31/22** | $1239946 | $1129814 | $1078655 |
| **4/30/22** | $1218966 | $1099449 | $1079559 |
| **5/31/22** | $1222239 | $1097936 | $1080464 |
| **6/30/22** | $1196669 | $1081273 | $1081370 |
| **7/31/22** | $1217434 | $1108814 | $1082840 |
| **8/31/22** | $1199130 | $1079868 | $1084974 |
| **9/30/22** | $1171479 | $1045202 | $1087187 |
| **10/31/22** | $1173363 | $1041624 | $1090024 |
| **11/30/22** | $1189408 | $1068168 | $1093382 |
| **12/31/22** | $1191461 | $1055562 | $1097197 |
| **1/31/23** | $1211640 | $1079874 | $1101269 |
| **2/28/23** | $1202983 | $1062650 | $1105156 |
| **3/31/23** | $1208535 | $1086213 | $1109554 |
| **4/30/23** | $1213776 | $1091806 | $1114015 |
| **5/31/23** | $1214541 | $1087507 | $1118838 |
| **6/30/23** | $1219374 | $1086858 | $1123559 |
| **7/31/23** | $1228975 | $1087210 | $1128492 |
| **8/31/23** | $1231132 | $1085844 | $1133649 |
| **9/30/23** | $1224325 | $1067119 | $1138672 |
| **10/31/23** | $1214741 | $1059542 | $1143887 |
| **11/30/23** | $1252676 | $1095972 | $1148966 |
| **12/31/23** | $1279039 | $1130998 | $1154251 |
| **1/31/24** | $1286001 | $1128781 | $1159560 |
| **2/29/24** | $1287816 | $1121036 | $1164535 |
| **3/31/24** | $1301195 | $1131144 | $1169880 |
| **4/30/24** | $1296109 | $1112932 | $1175074 |
| **5/31/24** | $1310147 | $1122780 | $1180456 |
| **6/30/24** | $1312443 | $1132522 | $1185355 |
| **7/31/24** | $1328635 | $1154402 | $1191175 |
| **8/31/24** | $1339844 | $1167045 | $1196655 |
| **9/30/24** | $1355659 | $1180588 | $1201824 |
| **10/31/24** | $1350002 | $1164612 | $1206847 |
| **11/30/24** | $1366941 | $1178445 | $1211567 |
| **12/31/24** | $1369880 | $1169402 | $1216304 |
| **1/31/25** | $1381374 | $1173932 | $1220841 |
| **2/28/25** | $1397484 | $1188068 | $1224967 |
| **3/31/25** | $1403205 | $1183110 | $1229536 |
| **4/30/25** | $1402096 | $1194759 | $1233987 |
| **5/31/25** | $1405422 | $1190809 | $1238578 |
| **6/30/25** | $1429488 | $1202213 | $1243036 |
| **7/31/25** | $1430302 | $1201251 | $1247698 |
| **8/31/25** | $1452683 | $1207833 | $1252364 |
| **9/30/25** | $1464810 | $1216730 | $1256860 |
| **10/31/25** | $1480857 | $1226335 | $1261410 |
| **11/30/25** | $1486940 | $1228914 | $1265611 |
| **12/31/25** | $1496886 | $1226279 | $1269736 |
| **1/31/26** | $1507187 | $1229243 | $1273762 |
| **2/28/26** | $1511812 | $1246523 | $1277392 |
| **3/31/26** | $1483730 | $1224396 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 5.74% | 2.90% | 4.02% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PFIUX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1863TSRAR_033126

# I-2: PUCPX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $93 | 0.90% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g48q24.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1016819 | $1001698 | $1000526 |
| **5/31/16** | $1020860 | $1005932 | $1001052 |
| **6/30/16** | $1017901 | $1025081 | $1001578 |
| **7/31/16** | $1031566 | $1031206 | $1002105 |
| **8/31/16** | $1037444 | $1030680 | $1002632 |
| **9/30/16** | $1047041 | $1030557 | $1003159 |
| **10/31/16** | $1058017 | $1020565 | $1003860 |
| **11/30/16** | $1051267 | $1003709 | $1004560 |
| **12/31/16** | $1063226 | $1006459 | $1005261 |
| **1/31/17** | $1074298 | $1002793 | $1006097 |
| **2/28/17** | $1084701 | $1011378 | $1006934 |
| **3/31/17** | $1093691 | $1010911 | $1007772 |
| **4/30/17** | $1096322 | $1017767 | $1008736 |
| **5/31/17** | $1102973 | $1023707 | $1009699 |
| **6/30/17** | $1106854 | $1020842 | $1010664 |
| **7/31/17** | $1111640 | $1024198 | $1011756 |
| **8/31/17** | $1121713 | $1033532 | $1012848 |
| **9/30/17** | $1126781 | $1028761 | $1013943 |
| **10/31/17** | $1128836 | $1033100 | $1015069 |
| **11/30/17** | $1131077 | $1034700 | $1016196 |
| **12/31/17** | $1130171 | $1037013 | $1017325 |
| **1/31/18** | $1134547 | $1029610 | $1018760 |
| **2/28/18** | $1135877 | $1027288 | $1020198 |
| **3/31/18** | $1136840 | $1035806 | $1021638 |
| **4/30/18** | $1136690 | $1031952 | $1023597 |
| **5/31/18** | $1145247 | $1035807 | $1025561 |
| **6/30/18** | $1143616 | $1037738 | $1027529 |
| **7/31/18** | $1149129 | $1038022 | $1029527 |
| **8/31/18** | $1149570 | $1041212 | $1031530 |
| **9/30/18** | $1150257 | $1037229 | $1033537 |
| **10/31/18** | $1154589 | $1035202 | $1035592 |
| **11/30/18** | $1149675 | $1040267 | $1037651 |
| **12/31/18** | $1151288 | $1055294 | $1039715 |
| **1/31/19** | $1165743 | $1066471 | $1042143 |
| **2/28/19** | $1169646 | $1067753 | $1044577 |
| **3/31/19** | $1176511 | $1086877 | $1047017 |
| **4/30/19** | $1182352 | $1087524 | $1049286 |
| **5/31/19** | $1186140 | $1103173 | $1051561 |
| **6/30/19** | $1191800 | $1118641 | $1053840 |
| **7/31/19** | $1193169 | $1127444 | $1055886 |
| **8/31/19** | $1178799 | $1153012 | $1057936 |
| **9/30/19** | $1181806 | $1147669 | $1059991 |
| **10/31/19** | $1188105 | $1145688 | $1061850 |
| **11/30/19** | $1193612 | $1144344 | $1063711 |
| **12/31/19** | $1205442 | $1141998 | $1065577 |
| **1/31/20** | $1206179 | $1162607 | $1067304 |
| **2/29/20** | $1203036 | $1176836 | $1069033 |
| **3/31/20** | $1142255 | $1158521 | $1070765 |
| **4/30/20** | $1172615 | $1177276 | $1072060 |
| **5/31/20** | $1193081 | $1180613 | $1073355 |
| **6/30/20** | $1215291 | $1186505 | $1074652 |
| **7/31/20** | $1227794 | $1199470 | $1074928 |
| **8/31/20** | $1238321 | $1190779 | $1075203 |
| **9/30/20** | $1240280 | $1195129 | $1075480 |
| **10/31/20** | $1245442 | $1195216 | $1075677 |
| **11/30/20** | $1256015 | $1202035 | $1075874 |
| **12/31/20** | $1269584 | $1205728 | $1076072 |
| **1/31/21** | $1276142 | $1199261 | $1076299 |
| **2/28/21** | $1280639 | $1180606 | $1076527 |
| **3/31/21** | $1279672 | $1175955 | $1076755 |
| **4/30/21** | $1283526 | $1179029 | $1076937 |
| **5/31/21** | $1285841 | $1181661 | $1077119 |
| **6/30/21** | $1283348 | $1187424 | $1077300 |
| **7/31/21** | $1284094 | $1202182 | $1077433 |
| **8/31/21** | $1284576 | $1199773 | $1077565 |
| **9/30/21** | $1283861 | $1188446 | $1077697 |
| **10/31/21** | $1271215 | $1185338 | $1077815 |
| **11/30/21** | $1269261 | $1193793 | $1077933 |
| **12/31/21** | $1272239 | $1188952 | $1078052 |
| **1/31/22** | $1264202 | $1170272 | $1078252 |
| **2/28/22** | $1252684 | $1154705 | $1078453 |
| **3/31/22** | $1232531 | $1129814 | $1078655 |
| **4/30/22** | $1211569 | $1099449 | $1079559 |
| **5/31/22** | $1214723 | $1097936 | $1080464 |
| **6/30/22** | $1189212 | $1081273 | $1081370 |
| **7/31/22** | $1209746 | $1108814 | $1082840 |
| **8/31/22** | $1191457 | $1079868 | $1084974 |
| **9/30/22** | $1163880 | $1045202 | $1087187 |
| **10/31/22** | $1165659 | $1041624 | $1090024 |
| **11/30/22** | $1181503 | $1068168 | $1093382 |
| **12/31/22** | $1183434 | $1055562 | $1097197 |
| **1/31/23** | $1203383 | $1079874 | $1101269 |
| **2/28/23** | $1194692 | $1062650 | $1105156 |
| **3/31/23** | $1200098 | $1086213 | $1109554 |
| **4/30/23** | $1205210 | $1091806 | $1114015 |
| **5/31/23** | $1205867 | $1087507 | $1118838 |
| **6/30/23** | $1210558 | $1086858 | $1123559 |
| **7/31/23** | $1219994 | $1087210 | $1128492 |
| **8/31/23** | $1222032 | $1085844 | $1133649 |
| **9/30/23** | $1215172 | $1067119 | $1138672 |
| **10/31/23** | $1205561 | $1059542 | $1143887 |
| **11/30/23** | $1243108 | $1095972 | $1148966 |
| **12/31/23** | $1269161 | $1130998 | $1154251 |
| **1/31/24** | $1275965 | $1128781 | $1159560 |
| **2/29/24** | $1277664 | $1121036 | $1164535 |
| **3/31/24** | $1290826 | $1131144 | $1169880 |
| **4/30/24** | $1285674 | $1112932 | $1175074 |
| **5/31/24** | $1299483 | $1122780 | $1180456 |
| **6/30/24** | $1301660 | $1132522 | $1185355 |
| **7/31/24** | $1317608 | $1154402 | $1191175 |
| **8/31/24** | $1328605 | $1167045 | $1196655 |
| **9/30/24** | $1344185 | $1180588 | $1201824 |
| **10/31/24** | $1338462 | $1164612 | $1206847 |
| **11/30/24** | $1355142 | $1178445 | $1211567 |
| **12/31/24** | $1357939 | $1169402 | $1216304 |
| **1/31/25** | $1369213 | $1173932 | $1220841 |
| **2/28/25** | $1385076 | $1188068 | $1224967 |
| **3/31/25** | $1390636 | $1183110 | $1229536 |
| **4/30/25** | $1389422 | $1194759 | $1233987 |
| **5/31/25** | $1392597 | $1190809 | $1238578 |
| **6/30/25** | $1416334 | $1202213 | $1243036 |
| **7/31/25** | $1417020 | $1201251 | $1247698 |
| **8/31/25** | $1439069 | $1207833 | $1252364 |
| **9/30/25** | $1450968 | $1216730 | $1256860 |
| **10/31/25** | $1466732 | $1226335 | $1261410 |
| **11/30/25** | $1472644 | $1228914 | $1265611 |
| **12/31/25** | $1482365 | $1226279 | $1269736 |
| **1/31/26** | $1492439 | $1229243 | $1273762 |
| **2/28/26** | $1496906 | $1246523 | $1277392 |
| **3/31/26** | $1468981 | $1224396 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 5.63% | 2.80% | 3.92% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PUCPX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1931TSRAR_033126

# I-3: PFNUX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $98 | 0.95% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of I-3 shares (4/27/2018), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by I-3 shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g09o09.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-3** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1016871 | $1001698 | $1000526 |
| **5/31/16** | $1020960 | $1005932 | $1001052 |
| **6/30/16** | $1018050 | $1025081 | $1001578 |
| **7/31/16** | $1031770 | $1031206 | $1002105 |
| **8/31/16** | $1037726 | $1030680 | $1002632 |
| **9/30/16** | $1047381 | $1030557 | $1003159 |
| **10/31/16** | $1058415 | $1020565 | $1003860 |
| **11/30/16** | $1051714 | $1003709 | $1004560 |
| **12/31/16** | $1063737 | $1006459 | $1005261 |
| **1/31/17** | $1074863 | $1002793 | $1006097 |
| **2/28/17** | $1085322 | $1011378 | $1006934 |
| **3/31/17** | $1094378 | $1010911 | $1007772 |
| **4/30/17** | $1097059 | $1017767 | $1008736 |
| **5/31/17** | $1103770 | $1023707 | $1009699 |
| **6/30/17** | $1107714 | $1020842 | $1010664 |
| **7/31/17** | $1112554 | $1024198 | $1011756 |
| **8/31/17** | $1122693 | $1033532 | $1012848 |
| **9/30/17** | $1127823 | $1028761 | $1013943 |
| **10/31/17** | $1129830 | $1033100 | $1015069 |
| **11/30/17** | $1132026 | $1034700 | $1016196 |
| **12/31/17** | $1131074 | $1037013 | $1017325 |
| **1/31/18** | $1135402 | $1029610 | $1018760 |
| **2/28/18** | $1136689 | $1027288 | $1020198 |
| **3/31/18** | $1137608 | $1035806 | $1021638 |
| **4/30/18** | $1137418 | $1031952 | $1023597 |
| **5/31/18** | $1145945 | $1035807 | $1025561 |
| **6/30/18** | $1144291 | $1037738 | $1027529 |
| **7/31/18** | $1149760 | $1038022 | $1029527 |
| **8/31/18** | $1150157 | $1041212 | $1031530 |
| **9/30/18** | $1150801 | $1037229 | $1033537 |
| **10/31/18** | $1155094 | $1035202 | $1035592 |
| **11/30/18** | $1150129 | $1040267 | $1037651 |
| **12/31/18** | $1151693 | $1055294 | $1039715 |
| **1/31/19** | $1166098 | $1066471 | $1042143 |
| **2/28/19** | $1169961 | $1067753 | $1044577 |
| **3/31/19** | $1176783 | $1086877 | $1047017 |
| **4/30/19** | $1182576 | $1087524 | $1049286 |
| **5/31/19** | $1186305 | $1103173 | $1051561 |
| **6/30/19** | $1191920 | $1118641 | $1053840 |
| **7/31/19** | $1193241 | $1127444 | $1055886 |
| **8/31/19** | $1178826 | $1153012 | $1057936 |
| **9/30/19** | $1181790 | $1147669 | $1059991 |
| **10/31/19** | $1188033 | $1145688 | $1061850 |
| **11/30/19** | $1193486 | $1144344 | $1063711 |
| **12/31/19** | $1205236 | $1141998 | $1065577 |
| **1/31/20** | $1205933 | $1162607 | $1067304 |
| **2/29/20** | $1202748 | $1176836 | $1069033 |
| **3/31/20** | $1141931 | $1158521 | $1070765 |
| **4/30/20** | $1172243 | $1177276 | $1072060 |
| **5/31/20** | $1192661 | $1180613 | $1073355 |
| **6/30/20** | $1214818 | $1186505 | $1074652 |
| **7/31/20** | $1227259 | $1199470 | $1074928 |
| **8/31/20** | $1237732 | $1190779 | $1075203 |
| **9/30/20** | $1239638 | $1195129 | $1075480 |
| **10/31/20** | $1244739 | $1195216 | $1075677 |
| **11/30/20** | $1255257 | $1202035 | $1075874 |
| **12/31/20** | $1268736 | $1205728 | $1076072 |
| **1/31/21** | $1275240 | $1199261 | $1076299 |
| **2/28/21** | $1279684 | $1180606 | $1076527 |
| **3/31/21** | $1278661 | $1175955 | $1076755 |
| **4/30/21** | $1282455 | $1179029 | $1076937 |
| **5/31/21** | $1284718 | $1181661 | $1077119 |
| **6/30/21** | $1282172 | $1187424 | $1077300 |
| **7/31/21** | $1282861 | $1202182 | $1077433 |
| **8/31/21** | $1283289 | $1199773 | $1077565 |
| **9/30/21** | $1282521 | $1188446 | $1077697 |
| **10/31/21** | $1269833 | $1185338 | $1077815 |
| **11/30/21** | $1267828 | $1193793 | $1077933 |
| **12/31/21** | $1270745 | $1188952 | $1078052 |
| **1/31/22** | $1262666 | $1170272 | $1078252 |
| **2/28/22** | $1251120 | $1154705 | $1078453 |
| **3/31/22** | $1230944 | $1129814 | $1078655 |
| **4/30/22** | $1209954 | $1099449 | $1079559 |
| **5/31/22** | $1213057 | $1097936 | $1080464 |
| **6/30/22** | $1187539 | $1081273 | $1081370 |
| **7/31/22** | $1207990 | $1108814 | $1082840 |
| **8/31/22** | $1189688 | $1079868 | $1084974 |
| **9/30/22** | $1162056 | $1045202 | $1087187 |
| **10/31/22** | $1163775 | $1041624 | $1090024 |
| **11/30/22** | $1179559 | $1068168 | $1093382 |
| **12/31/22** | $1181400 | $1055562 | $1097197 |
| **1/31/23** | $1201265 | $1079874 | $1101269 |
| **2/28/23** | $1192531 | $1062650 | $1105156 |
| **3/31/23** | $1197883 | $1086213 | $1109554 |
| **4/30/23** | $1202935 | $1091806 | $1114015 |
| **5/31/23** | $1203537 | $1087507 | $1118838 |
| **6/30/23** | $1208160 | $1086858 | $1123559 |
| **7/31/23** | $1217529 | $1087210 | $1128492 |
| **8/31/23** | $1219503 | $1085844 | $1133649 |
| **9/30/23** | $1212600 | $1067119 | $1138672 |
| **10/31/23** | $1202985 | $1059542 | $1143887 |
| **11/30/23** | $1240389 | $1095972 | $1148966 |
| **12/31/23** | $1266301 | $1130998 | $1154251 |
| **1/31/24** | $1273039 | $1128781 | $1159560 |
| **2/29/24** | $1274693 | $1121036 | $1164535 |
| **3/31/24** | $1287770 | $1131144 | $1169880 |
| **4/30/24** | $1282569 | $1112932 | $1175074 |
| **5/31/24** | $1296254 | $1122780 | $1180456 |
| **6/30/24** | $1298371 | $1132522 | $1185355 |
| **7/31/24** | $1314225 | $1154402 | $1191175 |
| **8/31/24** | $1325162 | $1167045 | $1196655 |
| **9/30/24** | $1340650 | $1180588 | $1201824 |
| **10/31/24** | $1334895 | $1164612 | $1206847 |
| **11/30/24** | $1351481 | $1178445 | $1211567 |
| **12/31/24** | $1354219 | $1169402 | $1216304 |
| **1/31/25** | $1365433 | $1173932 | $1220841 |
| **2/28/25** | $1381211 | $1188068 | $1224967 |
| **3/31/25** | $1386700 | $1183110 | $1229536 |
| **4/30/25** | $1385487 | $1194759 | $1233987 |
| **5/31/25** | $1388623 | $1190809 | $1238578 |
| **6/30/25** | $1412239 | $1202213 | $1243036 |
| **7/31/25** | $1412885 | $1201251 | $1247698 |
| **8/31/25** | $1434783 | $1207833 | $1252364 |
| **9/30/25** | $1446588 | $1216730 | $1256860 |
| **10/31/25** | $1462239 | $1226335 | $1261410 |
| **11/30/25** | $1468084 | $1228914 | $1265611 |
| **12/31/25** | $1477717 | $1226279 | $1269736 |
| **1/31/26** | $1487685 | $1229243 | $1273762 |
| **2/28/26** | $1492080 | $1246523 | $1277392 |
| **3/31/26** | $1464202 | $1224396 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-3 | 5.59% | 2.75% | 3.89% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PFNUX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2206TSRAR_033126

# Class R: PUBRX

# PIMCO Dynamic Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Dynamic Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R | $149 | 1.45% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Holdings of non-agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Long exposure to the Brazilian duration detracted from performance, as interest rates rose in the front end of the Brazilian yield curve.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg Global Aggregate (USD Hedged) Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g92j50.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R** | **Bloomberg Global Aggregate (USD Hedged) Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10164 | $10017 | $10005 |
| **5/31/16** | $10199 | $10059 | $10011 |
| **6/30/16** | $10165 | $10251 | $10016 |
| **7/31/16** | $10297 | $10312 | $10021 |
| **8/31/16** | $10351 | $10307 | $10026 |
| **9/30/16** | $10442 | $10306 | $10032 |
| **10/31/16** | $10547 | $10206 | $10039 |
| **11/30/16** | $10474 | $10037 | $10046 |
| **12/31/16** | $10588 | $10065 | $10053 |
| **1/31/17** | $10694 | $10028 | $10061 |
| **2/28/17** | $10793 | $10114 | $10069 |
| **3/31/17** | $10877 | $10109 | $10078 |
| **4/30/17** | $10899 | $10178 | $10087 |
| **5/31/17** | $10960 | $10237 | $10097 |
| **6/30/17** | $10993 | $10208 | $10107 |
| **7/31/17** | $11036 | $10242 | $10118 |
| **8/31/17** | $11130 | $10335 | $10128 |
| **9/30/17** | $11176 | $10288 | $10139 |
| **10/31/17** | $11191 | $10331 | $10151 |
| **11/30/17** | $11208 | $10347 | $10162 |
| **12/31/17** | $11194 | $10370 | $10173 |
| **1/31/18** | $11232 | $10296 | $10188 |
| **2/28/18** | $11240 | $10273 | $10202 |
| **3/31/18** | $11244 | $10358 | $10216 |
| **4/30/18** | $11238 | $10320 | $10236 |
| **5/31/18** | $11317 | $10358 | $10256 |
| **6/30/18** | $11296 | $10377 | $10275 |
| **7/31/18** | $11345 | $10380 | $10295 |
| **8/31/18** | $11344 | $10412 | $10315 |
| **9/30/18** | $11346 | $10372 | $10335 |
| **10/31/18** | $11384 | $10352 | $10356 |
| **11/30/18** | $11330 | $10403 | $10377 |
| **12/31/18** | $11340 | $10553 | $10397 |
| **1/31/19** | $11478 | $10665 | $10421 |
| **2/28/19** | $11511 | $10678 | $10446 |
| **3/31/19** | $11573 | $10869 | $10470 |
| **4/30/19** | $11626 | $10875 | $10493 |
| **5/31/19** | $11657 | $11032 | $10516 |
| **6/30/19** | $11708 | $11186 | $10538 |
| **7/31/19** | $11716 | $11274 | $10559 |
| **8/31/19** | $11569 | $11530 | $10579 |
| **9/30/19** | $11594 | $11477 | $10600 |
| **10/31/19** | $11650 | $11457 | $10618 |
| **11/30/19** | $11698 | $11443 | $10637 |
| **12/31/19** | $11809 | $11420 | $10656 |
| **1/31/20** | $11810 | $11626 | $10673 |
| **2/29/20** | $11775 | $11768 | $10690 |
| **3/31/20** | $11175 | $11585 | $10708 |
| **4/30/20** | $11467 | $11773 | $10721 |
| **5/31/20** | $11661 | $11806 | $10734 |
| **6/30/20** | $11873 | $11865 | $10747 |
| **7/31/20** | $11989 | $11995 | $10749 |
| **8/31/20** | $12087 | $11908 | $10752 |
| **9/30/20** | $12100 | $11951 | $10755 |
| **10/31/20** | $12145 | $11952 | $10757 |
| **11/30/20** | $12243 | $12020 | $10759 |
| **12/31/20** | $12369 | $12057 | $10761 |
| **1/31/21** | $12427 | $11993 | $10763 |
| **2/28/21** | $12466 | $11806 | $10765 |
| **3/31/21** | $12451 | $11760 | $10768 |
| **4/30/21** | $12482 | $11790 | $10769 |
| **5/31/21** | $12499 | $11817 | $10771 |
| **6/30/21** | $12469 | $11874 | $10773 |
| **7/31/21** | $12471 | $12022 | $10774 |
| **8/31/21** | $12470 | $11998 | $10776 |
| **9/30/21** | $12457 | $11884 | $10777 |
| **10/31/21** | $12329 | $11853 | $10778 |
| **11/30/21** | $12304 | $11938 | $10779 |
| **12/31/21** | $12327 | $11890 | $10781 |
| **1/31/22** | $12244 | $11703 | $10783 |
| **2/28/22** | $12127 | $11547 | $10785 |
| **3/31/22** | $11926 | $11298 | $10787 |
| **4/30/22** | $11718 | $10994 | $10796 |
| **5/31/22** | $11743 | $10979 | $10805 |
| **6/30/22** | $11491 | $10813 | $10814 |
| **7/31/22** | $11684 | $11088 | $10828 |
| **8/31/22** | $11502 | $10799 | $10850 |
| **9/30/22** | $11230 | $10452 | $10872 |
| **10/31/22** | $11243 | $10416 | $10900 |
| **11/30/22** | $11390 | $10682 | $10934 |
| **12/31/22** | $11403 | $10556 | $10972 |
| **1/31/23** | $11591 | $10799 | $11013 |
| **2/28/23** | $11502 | $10626 | $11052 |
| **3/31/23** | $11548 | $10862 | $11096 |
| **4/30/23** | $11593 | $10918 | $11140 |
| **5/31/23** | $11594 | $10875 | $11188 |
| **6/30/23** | $11633 | $10869 | $11236 |
| **7/31/23** | $11719 | $10872 | $11285 |
| **8/31/23** | $11733 | $10858 | $11336 |
| **9/30/23** | $11662 | $10671 | $11387 |
| **10/31/23** | $11564 | $10595 | $11439 |
| **11/30/23** | $11919 | $10960 | $11490 |
| **12/31/23** | $12163 | $11310 | $11543 |
| **1/31/24** | $12223 | $11288 | $11596 |
| **2/29/24** | $12234 | $11210 | $11645 |
| **3/31/24** | $12354 | $11311 | $11699 |
| **4/30/24** | $12299 | $11129 | $11751 |
| **5/31/24** | $12425 | $11228 | $11805 |
| **6/30/24** | $12441 | $11325 | $11854 |
| **7/31/24** | $12587 | $11544 | $11912 |
| **8/31/24** | $12686 | $11670 | $11967 |
| **9/30/24** | $12829 | $11806 | $12018 |
| **10/31/24** | $12769 | $11646 | $12068 |
| **11/30/24** | $12922 | $11784 | $12116 |
| **12/31/24** | $12943 | $11694 | $12163 |
| **1/31/25** | $13044 | $11739 | $12208 |
| **2/28/25** | $13189 | $11881 | $12250 |
| **3/31/25** | $13238 | $11831 | $12295 |
| **4/30/25** | $13221 | $11948 | $12340 |
| **5/31/25** | $13245 | $11908 | $12386 |
| **6/30/25** | $13465 | $12022 | $12430 |
| **7/31/25** | $13465 | $12013 | $12477 |
| **8/31/25** | $13668 | $12078 | $12524 |
| **9/30/25** | $13775 | $12167 | $12569 |
| **10/31/25** | $13918 | $12263 | $12614 |
| **11/30/25** | $13968 | $12289 | $12656 |
| **12/31/25** | $14053 | $12263 | $12697 |
| **1/31/26** | $14142 | $12292 | $12738 |
| **2/28/26** | $14179 | $12465 | $12774 |
| **3/31/26** | $13908 | $12244 | $12814 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class R | 5.06% | 2.24% | 3.35% |
| Bloomberg Global Aggregate (USD Hedged) Index | 3.49% | 0.81% | 2.05% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2611902 |
| # of Portfolio Holdings | 2130 |
| Portfolio Turnover Rate | 824% |
| Total Net Advisory Fees Paid During the Reporting Period | $13457 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 68.3% |
| Corporate Bonds & Notes | 20.4% |
| Sovereign Issues | 20.4% |
| Asset-Backed Securities | 12.7% |
| U.S. Treasury Obligations | 10.6% |
| Non-Agency Mortgage-Backed Securities | 6.5% |
| Loan Participations and Assignments | 1.5% |
| Municipal Bonds & Notes | 0.3% |
| Preferred Securities | 0.2% |
| Convertible Preferred Securities | 0.2% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 13.3% |
| Affiliated Investments | 20.9% |
| Financial Derivative Instruments | 0.8% |
| Other Assets and Liabilities, Net | (76.1%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class R: PUBRX
![Image](g112232g01x08.jpg)

# PIMCO Dynamic Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4586TSRAR_033126

# Institutional Class: PEDIX

# PIMCO Extended Duration Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Extended Duration Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $528 | 5.36% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Interest rates strategies overall, including duration, curve positioning, and instrument selection, contributed to relative performance versus the FTSE STRIPS Index, 20+ Year Sub-Index ("Index"), as the curve steepened.

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Index, as the strategy outperformed like-duration Treasuries.

* Select exposure to emerging market and Latin American market currencies contributed to relative performance versus the Index, as the currency strengthened versus the U.S. dollar.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g66u37.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **FTSE STRIPS Index, 20+ Year Sub-Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $988326 | $1003838 | $991128 |
| **5/31/16** | $1002068 | $1004096 | $1006011 |
| **6/30/16** | $1095704 | $1022137 | $1099406 |
| **7/31/16** | $1133812 | $1028599 | $1138810 |
| **8/31/16** | $1124381 | $1027423 | $1126226 |
| **9/30/16** | $1100890 | $1026821 | $1092977 |
| **10/31/16** | $1032886 | $1018967 | $1026720 |
| **11/30/16** | $915793 | $994865 | $920008 |
| **12/31/16** | $909265 | $996268 | $911942 |
| **1/31/17** | $916394 | $998223 | $916663 |
| **2/28/17** | $939589 | $1004932 | $937350 |
| **3/31/17** | $928477 | $1004405 | $927338 |
| **4/30/17** | $948082 | $1012156 | $944052 |
| **5/31/17** | $972878 | $1019947 | $973502 |
| **6/30/17** | $989010 | $1018920 | $984510 |
| **7/31/17** | $975967 | $1023305 | $970714 |
| **8/31/17** | $1022214 | $1032484 | $1020336 |
| **9/30/17** | $991505 | $1027566 | $991639 |
| **10/31/17** | $992468 | $1028161 | $991090 |
| **11/30/17** | $1007479 | $1026841 | $1005951 |
| **12/31/17** | $1034853 | $1031554 | $1035241 |
| **1/31/18** | $994538 | $1019674 | $992492 |
| **2/28/18** | $947524 | $1010008 | $945730 |
| **3/31/18** | $985122 | $1016485 | $987813 |
| **4/30/18** | $957506 | $1008925 | $962708 |
| **5/31/18** | $982046 | $1016126 | $991769 |
| **6/30/18** | $992318 | $1014876 | $996477 |
| **7/31/18** | $972367 | $1015117 | $972935 |
| **8/31/18** | $986717 | $1021649 | $992459 |
| **9/30/18** | $947689 | $1015070 | $949129 |
| **10/31/18** | $901241 | $1007049 | $899535 |
| **11/30/18** | $921956 | $1013060 | $918322 |
| **12/31/18** | $993390 | $1031671 | $989114 |
| **1/31/19** | $1000704 | $1042627 | $994641 |
| **2/28/19** | $981044 | $1042023 | $976092 |
| **3/31/19** | $1057533 | $1062032 | $1051912 |
| **4/30/19** | $1024872 | $1062304 | $1022493 |
| **5/31/19** | $1122260 | $1081161 | $1120524 |
| **6/30/19** | $1129873 | $1094739 | $1135128 |
| **7/31/19** | $1136176 | $1097147 | $1137757 |
| **8/31/19** | $1312813 | $1125576 | $1316755 |
| **9/30/19** | $1264338 | $1119581 | $1271185 |
| **10/31/19** | $1240609 | $1122953 | $1253339 |
| **11/30/19** | $1237557 | $1122381 | $1248333 |
| **12/31/19** | $1178370 | $1121599 | $1194603 |
| **1/31/20** | $1301906 | $1143184 | $1309951 |
| **2/29/20** | $1419880 | $1163759 | $1433699 |
| **3/31/20** | $1533290 | $1156911 | $1550947 |
| **4/30/20** | $1555469 | $1177476 | $1587256 |
| **5/31/20** | $1510768 | $1182959 | $1533064 |
| **6/30/20** | $1522088 | $1190410 | $1541111 |
| **7/31/20** | $1619900 | $1208191 | $1639699 |
| **8/31/20** | $1505854 | $1198439 | $1536816 |
| **9/30/20** | $1522375 | $1197782 | $1543411 |
| **10/31/20** | $1454144 | $1192434 | $1480889 |
| **11/30/20** | $1492412 | $1204134 | $1508412 |
| **12/31/20** | $1469757 | $1205794 | $1484462 |
| **1/31/21** | $1401901 | $1197148 | $1400858 |
| **2/28/21** | $1294919 | $1179861 | $1273967 |
| **3/31/21** | $1207078 | $1165128 | $1202337 |
| **4/30/21** | $1247390 | $1174333 | $1246473 |
| **5/31/21** | $1246528 | $1178169 | $1252832 |
| **6/30/21** | $1324098 | $1186447 | $1326477 |
| **7/31/21** | $1388313 | $1199713 | $1389452 |
| **8/31/21** | $1384004 | $1197429 | $1386084 |
| **9/30/21** | $1333360 | $1187061 | $1330799 |
| **10/31/21** | $1385867 | $1186734 | $1386633 |
| **11/30/21** | $1438412 | $1190245 | $1442748 |
| **12/31/21** | $1395924 | $1187200 | $1408282 |
| **1/31/22** | $1329907 | $1161622 | $1336039 |
| **2/28/22** | $1298187 | $1148663 | $1293321 |
| **3/31/22** | $1221379 | $1116751 | $1218490 |
| **4/30/22** | $1068609 | $1074373 | $1068218 |
| **5/31/22** | $1025899 | $1081300 | $1023730 |
| **6/30/22** | $1006723 | $1064336 | $1013508 |
| **7/31/22** | $1033314 | $1090343 | $1029714 |
| **8/31/22** | $981090 | $1059533 | $975058 |
| **9/30/22** | $874046 | $1013755 | $871821 |
| **10/31/22** | $790497 | $1000624 | $792028 |
| **11/30/22** | $867823 | $1037423 | $870642 |
| **12/31/22** | $839819 | $1032743 | $841992 |
| **1/31/23** | $928295 | $1064515 | $932356 |
| **2/28/23** | $871852 | $1036991 | $870947 |
| **3/31/23** | $917622 | $1063333 | $918968 |
| **4/30/23** | $919439 | $1069778 | $920203 |
| **5/31/23** | $882212 | $1058130 | $883683 |
| **6/30/23** | $892025 | $1054356 | $894323 |
| **7/31/23** | $860226 | $1053621 | $859787 |
| **8/31/23** | $819973 | $1046891 | $816999 |
| **9/30/23** | $727336 | $1020288 | $721896 |
| **10/31/23** | $665678 | $1004186 | $660682 |
| **11/30/23** | $765638 | $1049662 | $760978 |
| **12/31/23** | $863061 | $1089842 | $859980 |
| **1/31/24** | $830481 | $1086849 | $818881 |
| **2/29/24** | $809554 | $1071494 | $798143 |
| **3/31/24** | $819895 | $1081388 | $804397 |
| **4/30/24** | $742026 | $1054074 | $730671 |
| **5/31/24** | $772944 | $1071944 | $759279 |
| **6/30/24** | $787864 | $1082092 | $775907 |
| **7/31/24** | $822916 | $1107367 | $809290 |
| **8/31/24** | $848523 | $1123279 | $835056 |
| **9/30/24** | $870327 | $1138319 | $855511 |
| **10/31/24** | $806631 | $1110090 | $793325 |
| **11/30/24** | $829055 | $1121827 | $814056 |
| **12/31/24** | $754192 | $1103468 | $739377 |
| **1/31/25** | $758124 | $1109322 | $737132 |
| **2/28/25** | $820043 | $1133729 | $798029 |
| **3/31/25** | $800935 | $1134155 | $776783 |
| **4/30/25** | $772568 | $1138613 | $750378 |
| **5/31/25** | $735888 | $1130460 | $713985 |
| **6/30/25** | $764940 | $1147843 | $740927 |
| **7/31/25** | $755037 | $1144815 | $728570 |
| **8/31/25** | $746249 | $1158507 | $717579 |
| **9/30/25** | $793698 | $1171145 | $762533 |
| **10/31/25** | $812480 | $1178462 | $778668 |
| **11/30/25** | $810290 | $1185785 | $776090 |
| **12/31/25** | $776834 | $1184031 | $745165 |
| **1/31/26** | $779128 | $1185295 | $739343 |
| **2/28/26** | $831831 | $1204706 | $789321 |
| **3/31/26** | $776677 | $1183475 | $741769 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | (3.03%) | (8.44%) | (2.50%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| FTSE STRIPS Index, 20+ Year Sub-Index | (4.51%) | (9.21%) | (2.94%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $493220 |
| # of Portfolio Holdings | 593 |
| Portfolio Turnover Rate | 145% |
| Total Net Advisory Fees Paid During the Reporting Period | $1110 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 193.7% |
| U.S. Government Agencies | 22.6% |
| Asset-Backed Securities | 7.9% |
| Sovereign Issues | 4.3% |
| Non-Agency Mortgage-Backed Securities | 2.7% |
| Corporate Bonds & Notes | 1.0% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 1.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (133.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.43% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PEDIX
![Image](g112232g01x08.jpg)

# PIMCO Extended Duration Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1890TSRAR_033126

# I-2: PEDPX

# PIMCO Extended Duration Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Extended Duration Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $546 | 5.55% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Interest rates strategies overall, including duration, curve positioning, and instrument selection, contributed to relative performance versus the FTSE STRIPS Index, 20+ Year Sub-Index ("Index"), as the curve steepened.

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Index, as the strategy outperformed like-duration Treasuries.

* Select exposure to emerging market and Latin American market currencies contributed to relative performance versus the Index, as the currency strengthened versus the U.S. dollar.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g21j90.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **FTSE STRIPS Index, 20+ Year Sub-Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $988238 | $1003838 | $991128 |
| **5/31/16** | $1001893 | $1004096 | $1006011 |
| **6/30/16** | $1095425 | $1022137 | $1099406 |
| **7/31/16** | $1133425 | $1028599 | $1138810 |
| **8/31/16** | $1123905 | $1027423 | $1126226 |
| **9/30/16** | $1100324 | $1026821 | $1092977 |
| **10/31/16** | $1032270 | $1018967 | $1026720 |
| **11/30/16** | $915134 | $994865 | $920008 |
| **12/31/16** | $908530 | $996268 | $911942 |
| **1/31/17** | $915559 | $998223 | $916663 |
| **2/28/17** | $938662 | $1004932 | $937350 |
| **3/31/17** | $927497 | $1004405 | $927338 |
| **4/30/17** | $947009 | $1012156 | $944052 |
| **5/31/17** | $971696 | $1019947 | $973502 |
| **6/30/17** | $987722 | $1018920 | $984510 |
| **7/31/17** | $974619 | $1023305 | $970714 |
| **8/31/17** | $1020718 | $1032484 | $1020336 |
| **9/30/17** | $989966 | $1027566 | $991639 |
| **10/31/17** | $990846 | $1028161 | $991090 |
| **11/30/17** | $1005750 | $1026841 | $1005951 |
| **12/31/17** | $1032987 | $1031554 | $1035241 |
| **1/31/18** | $992662 | $1019674 | $992492 |
| **2/28/18** | $945663 | $1010008 | $945730 |
| **3/31/18** | $983103 | $1016485 | $987813 |
| **4/30/18** | $955468 | $1008925 | $962708 |
| **5/31/18** | $979875 | $1016126 | $991769 |
| **6/30/18** | $990041 | $1014876 | $996477 |
| **7/31/18** | $970056 | $1015117 | $972935 |
| **8/31/18** | $984282 | $1021649 | $992459 |
| **9/30/18** | $945279 | $1015070 | $949129 |
| **10/31/18** | $898871 | $1007049 | $899535 |
| **11/30/18** | $919458 | $1013060 | $918322 |
| **12/31/18** | $990621 | $1031671 | $989114 |
| **1/31/19** | $997835 | $1042627 | $994641 |
| **2/28/19** | $978159 | $1042023 | $976092 |
| **3/31/19** | $1054334 | $1062032 | $1051912 |
| **4/30/19** | $1021687 | $1062304 | $1022493 |
| **5/31/19** | $1118676 | $1081161 | $1120524 |
| **6/30/19** | $1126181 | $1094739 | $1135128 |
| **7/31/19** | $1132369 | $1097147 | $1137757 |
| **8/31/19** | $1308303 | $1125576 | $1316755 |
| **9/30/19** | $1259899 | $1119581 | $1271185 |
| **10/31/19** | $1236148 | $1122953 | $1253339 |
| **11/30/19** | $1233003 | $1122381 | $1248333 |
| **12/31/19** | $1173926 | $1121599 | $1194603 |
| **1/31/20** | $1296888 | $1143184 | $1309951 |
| **2/29/20** | $1414313 | $1163759 | $1433699 |
| **3/31/20** | $1527159 | $1156911 | $1550947 |
| **4/30/20** | $1549128 | $1177476 | $1587256 |
| **5/31/20** | $1504476 | $1182959 | $1533064 |
| **6/30/20** | $1515634 | $1190410 | $1541111 |
| **7/31/20** | $1612888 | $1208191 | $1639699 |
| **8/31/20** | $1499214 | $1198439 | $1536816 |
| **9/30/20** | $1515540 | $1197782 | $1543411 |
| **10/31/20** | $1447497 | $1192434 | $1480889 |
| **11/30/20** | $1485471 | $1204134 | $1508412 |
| **12/31/20** | $1462774 | $1205794 | $1484462 |
| **1/31/21** | $1395131 | $1197148 | $1400858 |
| **2/28/21** | $1288562 | $1179861 | $1273967 |
| **3/31/21** | $1201048 | $1165128 | $1202337 |
| **4/30/21** | $1241044 | $1174333 | $1246473 |
| **5/31/21** | $1240087 | $1178169 | $1252832 |
| **6/30/21** | $1317150 | $1186447 | $1326477 |
| **7/31/21** | $1380906 | $1199713 | $1389452 |
| **8/31/21** | $1376507 | $1197429 | $1386084 |
| **9/30/21** | $1326021 | $1187061 | $1330799 |
| **10/31/21** | $1378135 | $1186734 | $1386633 |
| **11/30/21** | $1430275 | $1190245 | $1442748 |
| **12/31/21** | $1387900 | $1187200 | $1408282 |
| **1/31/22** | $1322155 | $1161622 | $1336039 |
| **2/28/22** | $1290523 | $1148663 | $1293321 |
| **3/31/22** | $1214072 | $1116751 | $1218490 |
| **4/30/22** | $1062112 | $1074373 | $1068218 |
| **5/31/22** | $1019577 | $1081300 | $1023730 |
| **6/30/22** | $1000441 | $1064336 | $1013508 |
| **7/31/22** | $1026780 | $1090343 | $1029714 |
| **8/31/22** | $974806 | $1059533 | $975058 |
| **9/30/22** | $868367 | $1013755 | $871821 |
| **10/31/22** | $785298 | $1000624 | $792028 |
| **11/30/22** | $862048 | $1037423 | $870642 |
| **12/31/22** | $834151 | $1032743 | $841992 |
| **1/31/23** | $921958 | $1064515 | $932356 |
| **2/28/23** | $865832 | $1036991 | $870947 |
| **3/31/23** | $911201 | $1063333 | $918968 |
| **4/30/23** | $912935 | $1069778 | $920203 |
| **5/31/23** | $875897 | $1058130 | $883683 |
| **6/30/23** | $885562 | $1054356 | $894323 |
| **7/31/23** | $853926 | $1053621 | $859787 |
| **8/31/23** | $813898 | $1046891 | $816999 |
| **9/30/23** | $721886 | $1020288 | $721896 |
| **10/31/23** | $660629 | $1004186 | $660682 |
| **11/30/23** | $759765 | $1049662 | $760978 |
| **12/31/23** | $856368 | $1089842 | $859980 |
| **1/31/24** | $823972 | $1086849 | $818881 |
| **2/29/24** | $803145 | $1071494 | $798143 |
| **3/31/24** | $813336 | $1081388 | $804397 |
| **4/30/24** | $736028 | $1054074 | $730671 |
| **5/31/24** | $766626 | $1071944 | $759279 |
| **6/30/24** | $781362 | $1082092 | $775907 |
| **7/31/24** | $816059 | $1107367 | $809290 |
| **8/31/24** | $841379 | $1123279 | $835056 |
| **9/30/24** | $862930 | $1138319 | $855511 |
| **10/31/24** | $799704 | $1110090 | $793325 |
| **11/30/24** | $821868 | $1121827 | $814056 |
| **12/31/24** | $747586 | $1103468 | $739377 |
| **1/31/25** | $751419 | $1109322 | $737132 |
| **2/28/25** | $812730 | $1133729 | $798029 |
| **3/31/25** | $793730 | $1134155 | $776783 |
| **4/30/25** | $765557 | $1138613 | $750378 |
| **5/31/25** | $729144 | $1130460 | $713985 |
| **6/30/25** | $757872 | $1147843 | $740927 |
| **7/31/25** | $747996 | $1144815 | $728570 |
| **8/31/25** | $739224 | $1158507 | $717579 |
| **9/30/25** | $786163 | $1171145 | $762533 |
| **10/31/25** | $804695 | $1178462 | $778668 |
| **11/30/25** | $802465 | $1185785 | $776090 |
| **12/31/25** | $769263 | $1184031 | $745165 |
| **1/31/26** | $771469 | $1185295 | $739343 |
| **2/28/26** | $823591 | $1204706 | $789321 |
| **3/31/26** | $768920 | $1183475 | $741769 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | (3.13%) | (8.53%) | (2.59%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| FTSE STRIPS Index, 20+ Year Sub-Index | (4.51%) | (9.21%) | (2.94%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $493220 |
| # of Portfolio Holdings | 593 |
| Portfolio Turnover Rate | 145% |
| Total Net Advisory Fees Paid During the Reporting Period | $1110 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 193.7% |
| U.S. Government Agencies | 22.6% |
| Asset-Backed Securities | 7.9% |
| Sovereign Issues | 4.3% |
| Non-Agency Mortgage-Backed Securities | 2.7% |
| Corporate Bonds & Notes | 1.0% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 1.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (133.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.43% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PEDPX
![Image](g112232g01x08.jpg)

# PIMCO Extended Duration Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1934TSRAR_033126

# Class A: PAGNX

# PIMCO GNMA and Government Securities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO GNMA and Government Securities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $291 | 2.83% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to GNMA mortgage-backed securities ("MBS") positions contributed to relative performance versus the Bloomberg GNMA Index ("Index"), as spreads tightened.

* Exposure to structured agency MBS positions contributed to relative performance versus the Index, as interest only agency collateralized mortgage obligations posted positive returns.

* Exposure to senior collateralized loan obligations contributed to relative performance versus the Index, as spreads tightened.

* Exposure to conventional MBS positions detracted from relative performance versus the Index, as spreads tightened.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g56t19.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg GNMA Index** |
| **3/31/16** | $9627 | $10000 | $10000 |
| **4/30/16** | $9651 | $10038 | $10011 |
| **5/31/16** | $9661 | $10041 | $10024 |
| **6/30/16** | $9732 | $10221 | $10090 |
| **7/31/16** | $9748 | $10286 | $10112 |
| **8/31/16** | $9758 | $10274 | $10128 |
| **9/30/16** | $9792 | $10268 | $10154 |
| **10/31/16** | $9770 | $10190 | $10140 |
| **11/30/16** | $9608 | $9949 | $9983 |
| **12/31/16** | $9618 | $9963 | $9981 |
| **1/31/17** | $9613 | $9982 | $9970 |
| **2/28/17** | $9668 | $10049 | $10013 |
| **3/31/17** | $9662 | $10044 | $10009 |
| **4/30/17** | $9703 | $10122 | $10058 |
| **5/31/17** | $9765 | $10199 | $10120 |
| **6/30/17** | $9706 | $10189 | $10069 |
| **7/31/17** | $9768 | $10233 | $10115 |
| **8/31/17** | $9812 | $10325 | $10174 |
| **9/30/17** | $9805 | $10276 | $10164 |
| **10/31/17** | $9779 | $10282 | $10159 |
| **11/30/17** | $9753 | $10268 | $10144 |
| **12/31/17** | $9776 | $10316 | $10167 |
| **1/31/18** | $9644 | $10197 | $10055 |
| **2/28/18** | $9566 | $10100 | $9973 |
| **3/31/18** | $9631 | $10165 | $10037 |
| **4/30/18** | $9579 | $10089 | $9996 |
| **5/31/18** | $9646 | $10161 | $10072 |
| **6/30/18** | $9658 | $10149 | $10080 |
| **7/31/18** | $9667 | $10151 | $10080 |
| **8/31/18** | $9720 | $10216 | $10134 |
| **9/30/18** | $9660 | $10151 | $10074 |
| **10/31/18** | $9574 | $10070 | $9999 |
| **11/30/18** | $9670 | $10131 | $10086 |
| **12/31/18** | $9817 | $10317 | $10271 |
| **1/31/19** | $9903 | $10426 | $10354 |
| **2/28/19** | $9901 | $10420 | $10348 |
| **3/31/19** | $10035 | $10620 | $10485 |
| **4/30/19** | $10023 | $10623 | $10475 |
| **5/31/19** | $10129 | $10812 | $10607 |
| **6/30/19** | $10217 | $10947 | $10693 |
| **7/31/19** | $10259 | $10971 | $10726 |
| **8/31/19** | $10332 | $11256 | $10813 |
| **9/30/19** | $10345 | $11196 | $10814 |
| **10/31/19** | $10387 | $11230 | $10859 |
| **11/30/19** | $10392 | $11224 | $10857 |
| **12/31/19** | $10418 | $11216 | $10872 |
| **1/31/20** | $10443 | $11432 | $10924 |
| **2/29/20** | $10532 | $11638 | $11023 |
| **3/31/20** | $10684 | $11569 | $11202 |
| **4/30/20** | $10815 | $11775 | $11270 |
| **5/31/20** | $10843 | $11830 | $11282 |
| **6/30/20** | $10850 | $11904 | $11267 |
| **7/31/20** | $10836 | $12082 | $11239 |
| **8/31/20** | $10868 | $11984 | $11232 |
| **9/30/20** | $10873 | $11978 | $11231 |
| **10/31/20** | $10896 | $11924 | $11232 |
| **11/30/20** | $10929 | $12041 | $11252 |
| **12/31/20** | $10974 | $12058 | $11272 |
| **1/31/21** | $10996 | $11971 | $11252 |
| **2/28/21** | $10942 | $11799 | $11189 |
| **3/31/21** | $10915 | $11651 | $11162 |
| **4/30/21** | $10975 | $11743 | $11201 |
| **5/31/21** | $10909 | $11782 | $11164 |
| **6/30/21** | $10925 | $11864 | $11160 |
| **7/31/21** | $10950 | $11997 | $11193 |
| **8/31/21** | $10953 | $11974 | $11183 |
| **9/30/21** | $10938 | $11871 | $11160 |
| **10/31/21** | $10904 | $11867 | $11124 |
| **11/30/21** | $10880 | $11902 | $11119 |
| **12/31/21** | $10860 | $11872 | $11109 |
| **1/31/22** | $10734 | $11616 | $10974 |
| **2/28/22** | $10663 | $11487 | $10911 |
| **3/31/22** | $10347 | $11168 | $10648 |
| **4/30/22** | $9960 | $10744 | $10303 |
| **5/31/22** | $10101 | $10813 | $10421 |
| **6/30/22** | $9863 | $10643 | $10234 |
| **7/31/22** | $10161 | $10903 | $10563 |
| **8/31/22** | $9839 | $10595 | $10235 |
| **9/30/22** | $9287 | $10138 | $9709 |
| **10/31/22** | $9183 | $10006 | $9628 |
| **11/30/22** | $9523 | $10374 | $9990 |
| **12/31/22** | $9415 | $10327 | $9913 |
| **1/31/23** | $9760 | $10645 | $10239 |
| **2/28/23** | $9539 | $10370 | $9983 |
| **3/31/23** | $9708 | $10633 | $10171 |
| **4/30/23** | $9749 | $10698 | $10229 |
| **5/31/23** | $9668 | $10581 | $10150 |
| **6/30/23** | $9668 | $10544 | $10119 |
| **7/31/23** | $9662 | $10536 | $10122 |
| **8/31/23** | $9595 | $10469 | $10048 |
| **9/30/23** | $9321 | $10203 | $9738 |
| **10/31/23** | $9127 | $10042 | $9552 |
| **11/30/23** | $9594 | $10497 | $10029 |
| **12/31/23** | $9971 | $10898 | $10449 |
| **1/31/24** | $9947 | $10868 | $10398 |
| **2/29/24** | $9831 | $10715 | $10230 |
| **3/31/24** | $9950 | $10814 | $10338 |
| **4/30/24** | $9688 | $10541 | $10060 |
| **5/31/24** | $9877 | $10719 | $10239 |
| **6/30/24** | $9964 | $10821 | $10343 |
| **7/31/24** | $10205 | $11074 | $10594 |
| **8/31/24** | $10342 | $11233 | $10753 |
| **9/30/24** | $10441 | $11383 | $10856 |
| **10/31/24** | $10127 | $11101 | $10573 |
| **11/30/24** | $10272 | $11218 | $10708 |
| **12/31/24** | $10109 | $11035 | $10549 |
| **1/31/25** | $10189 | $11093 | $10608 |
| **2/28/25** | $10446 | $11337 | $10865 |
| **3/31/25** | $10455 | $11342 | $10874 |
| **4/30/25** | $10454 | $11386 | $10882 |
| **5/31/25** | $10354 | $11305 | $10798 |
| **6/30/25** | $10557 | $11478 | $10984 |
| **7/31/25** | $10500 | $11448 | $10942 |
| **8/31/25** | $10704 | $11585 | $11113 |
| **9/30/25** | $10771 | $11711 | $11224 |
| **10/31/25** | $10855 | $11785 | $11317 |
| **11/30/25** | $10923 | $11858 | $11384 |
| **12/31/25** | $10939 | $11840 | $11401 |
| **1/31/26** | $11008 | $11853 | $11467 |
| **2/28/26** | $11217 | $12047 | $11649 |
| **3/31/26** | $11030 | $11835 | $11472 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 5.50% | 0.21% | 1.37% |
| Class A (including sales charge) | 1.50% | (0.55%) | 0.99% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1334311 |
| # of Portfolio Holdings | 2094 |
| Portfolio Turnover Rate | 1,297% |
| Total Net Advisory Fees Paid During the Reporting Period | $3314 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 257.2% |
| Non-Agency Mortgage-Backed Securities | 2.2% |
| Asset-Backed Securities | 1.2% |
| Short-Term Instruments | 1.1% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 1.8% |
| Other Assets and Liabilities, Net | (163.5%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.54% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PAGNX
![Image](g112232g01x08.jpg)

# PIMCO GNMA and Government Securities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4055TSRAR_033126

# Class C: PCGNX

# PIMCO GNMA and Government Securities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO GNMA and Government Securities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $366 | 3.58% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to GNMA mortgage-backed securities ("MBS") positions contributed to relative performance versus the Bloomberg GNMA Index ("Index"), as spreads tightened.

* Exposure to structured agency MBS positions contributed to relative performance versus the Index, as interest only agency collateralized mortgage obligations posted positive returns.

* Exposure to senior collateralized loan obligations contributed to relative performance versus the Index, as spreads tightened.

* Exposure to conventional MBS positions detracted from relative performance versus the Index, as spreads tightened.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g64e77.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg GNMA Index** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10018 | $10038 | $10011 |
| **5/31/16** | $10022 | $10041 | $10024 |
| **6/30/16** | $10090 | $10221 | $10090 |
| **7/31/16** | $10100 | $10286 | $10112 |
| **8/31/16** | $10105 | $10274 | $10128 |
| **9/30/16** | $10133 | $10268 | $10154 |
| **10/31/16** | $10104 | $10190 | $10140 |
| **11/30/16** | $9930 | $9949 | $9983 |
| **12/31/16** | $9933 | $9963 | $9981 |
| **1/31/17** | $9922 | $9982 | $9970 |
| **2/28/17** | $9973 | $10049 | $10013 |
| **3/31/17** | $9960 | $10044 | $10009 |
| **4/30/17** | $9996 | $10122 | $10058 |
| **5/31/17** | $10055 | $10199 | $10120 |
| **6/30/17** | $9987 | $10189 | $10069 |
| **7/31/17** | $10044 | $10233 | $10115 |
| **8/31/17** | $10084 | $10325 | $10174 |
| **9/30/17** | $10070 | $10276 | $10164 |
| **10/31/17** | $10037 | $10282 | $10159 |
| **11/30/17** | $10004 | $10268 | $10144 |
| **12/31/17** | $10021 | $10316 | $10167 |
| **1/31/18** | $9880 | $10197 | $10055 |
| **2/28/18** | $9794 | $10100 | $9973 |
| **3/31/18** | $9855 | $10165 | $10037 |
| **4/30/18** | $9795 | $10089 | $9996 |
| **5/31/18** | $9857 | $10161 | $10072 |
| **6/30/18** | $9863 | $10149 | $10080 |
| **7/31/18** | $9866 | $10151 | $10080 |
| **8/31/18** | $9914 | $10216 | $10134 |
| **9/30/18** | $9847 | $10151 | $10074 |
| **10/31/18** | $9753 | $10070 | $9999 |
| **11/30/18** | $9845 | $10131 | $10086 |
| **12/31/18** | $9988 | $10317 | $10271 |
| **1/31/19** | $10070 | $10426 | $10354 |
| **2/28/19** | $10061 | $10420 | $10348 |
| **3/31/19** | $10191 | $10620 | $10485 |
| **4/30/19** | $10173 | $10623 | $10475 |
| **5/31/19** | $10274 | $10812 | $10607 |
| **6/30/19** | $10357 | $10947 | $10693 |
| **7/31/19** | $10393 | $10971 | $10726 |
| **8/31/19** | $10460 | $11256 | $10813 |
| **9/30/19** | $10467 | $11196 | $10814 |
| **10/31/19** | $10503 | $11230 | $10859 |
| **11/30/19** | $10502 | $11224 | $10857 |
| **12/31/19** | $10521 | $11216 | $10872 |
| **1/31/20** | $10539 | $11432 | $10924 |
| **2/29/20** | $10623 | $11638 | $11023 |
| **3/31/20** | $10770 | $11569 | $11202 |
| **4/30/20** | $10896 | $11775 | $11270 |
| **5/31/20** | $10917 | $11830 | $11282 |
| **6/30/20** | $10917 | $11904 | $11267 |
| **7/31/20** | $10896 | $12082 | $11239 |
| **8/31/20** | $10921 | $11984 | $11232 |
| **9/30/20** | $10919 | $11978 | $11231 |
| **10/31/20** | $10935 | $11924 | $11232 |
| **11/30/20** | $10962 | $12041 | $11252 |
| **12/31/20** | $11000 | $12058 | $11272 |
| **1/31/21** | $11015 | $11971 | $11252 |
| **2/28/21** | $10955 | $11799 | $11189 |
| **3/31/21** | $10921 | $11651 | $11162 |
| **4/30/21** | $10973 | $11743 | $11201 |
| **5/31/21** | $10901 | $11782 | $11164 |
| **6/30/21** | $10910 | $11864 | $11160 |
| **7/31/21** | $10928 | $11997 | $11193 |
| **8/31/21** | $10924 | $11974 | $11183 |
| **9/30/21** | $10903 | $11871 | $11160 |
| **10/31/21** | $10861 | $11867 | $11124 |
| **11/30/21** | $10831 | $11902 | $11119 |
| **12/31/21** | $10804 | $11872 | $11109 |
| **1/31/22** | $10672 | $11616 | $10974 |
| **2/28/22** | $10595 | $11487 | $10911 |
| **3/31/22** | $10275 | $11168 | $10648 |
| **4/30/22** | $9884 | $10744 | $10303 |
| **5/31/22** | $10018 | $10813 | $10421 |
| **6/30/22** | $9776 | $10643 | $10234 |
| **7/31/22** | $10065 | $10903 | $10563 |
| **8/31/22** | $9740 | $10595 | $10235 |
| **9/30/22** | $9187 | $10138 | $9709 |
| **10/31/22** | $9078 | $10006 | $9628 |
| **11/30/22** | $9409 | $10374 | $9990 |
| **12/31/22** | $9296 | $10327 | $9913 |
| **1/31/23** | $9631 | $10645 | $10239 |
| **2/28/23** | $9407 | $10370 | $9983 |
| **3/31/23** | $9567 | $10633 | $10171 |
| **4/30/23** | $9602 | $10698 | $10229 |
| **5/31/23** | $9517 | $10581 | $10150 |
| **6/30/23** | $9510 | $10544 | $10119 |
| **7/31/23** | $9499 | $10536 | $10122 |
| **8/31/23** | $9427 | $10469 | $10048 |
| **9/30/23** | $9152 | $10203 | $9738 |
| **10/31/23** | $8956 | $10042 | $9552 |
| **11/30/23** | $9409 | $10497 | $10029 |
| **12/31/23** | $9772 | $10898 | $10449 |
| **1/31/24** | $9742 | $10868 | $10398 |
| **2/29/24** | $9623 | $10715 | $10230 |
| **3/31/24** | $9734 | $10814 | $10338 |
| **4/30/24** | $9471 | $10541 | $10060 |
| **5/31/24** | $9649 | $10719 | $10239 |
| **6/30/24** | $9728 | $10821 | $10343 |
| **7/31/24** | $9958 | $11074 | $10594 |
| **8/31/24** | $10085 | $11233 | $10753 |
| **9/30/24** | $10175 | $11383 | $10856 |
| **10/31/24** | $9863 | $11101 | $10573 |
| **11/30/24** | $9998 | $11218 | $10708 |
| **12/31/24** | $9833 | $11035 | $10549 |
| **1/31/25** | $9905 | $11093 | $10608 |
| **2/28/25** | $10149 | $11337 | $10865 |
| **3/31/25** | $10151 | $11342 | $10874 |
| **4/30/25** | $10144 | $11386 | $10882 |
| **5/31/25** | $10041 | $11305 | $10798 |
| **6/30/25** | $10231 | $11478 | $10984 |
| **7/31/25** | $10169 | $11448 | $10942 |
| **8/31/25** | $10360 | $11585 | $11113 |
| **9/30/25** | $10419 | $11711 | $11224 |
| **10/31/25** | $10493 | $11785 | $11317 |
| **11/30/25** | $10553 | $11858 | $11384 |
| **12/31/25** | $10561 | $11840 | $11401 |
| **1/31/26** | $10621 | $11853 | $11467 |
| **2/28/26** | $10816 | $12047 | $11649 |
| **3/31/26** | $10630 | $11835 | $11472 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 4.72% | (0.54%) | 0.61% |
| Class C (including sales charge) | 3.72% | (0.54%) | 0.61% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1334311 |
| # of Portfolio Holdings | 2094 |
| Portfolio Turnover Rate | 1,297% |
| Total Net Advisory Fees Paid During the Reporting Period | $3314 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 257.2% |
| Non-Agency Mortgage-Backed Securities | 2.2% |
| Asset-Backed Securities | 1.2% |
| Short-Term Instruments | 1.1% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 1.8% |
| Other Assets and Liabilities, Net | (163.5%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.54% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PCGNX
![Image](g112232g01x08.jpg)

# PIMCO GNMA and Government Securities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4255TSRAR_033126

# Institutional Class: PDMIX

# PIMCO GNMA and Government Securities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO GNMA and Government Securities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $250 | 2.43% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to GNMA mortgage-backed securities ("MBS") positions contributed to relative performance versus the Bloomberg GNMA Index ("Index"), as spreads tightened.

* Exposure to structured agency MBS positions contributed to relative performance versus the Index, as interest only agency collateralized mortgage obligations posted positive returns.

* Exposure to senior collateralized loan obligations contributed to relative performance versus the Index, as spreads tightened.

* Exposure to conventional MBS positions detracted from relative performance versus the Index, as spreads tightened.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g07f08.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg GNMA Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1002807 | $1003838 | $1001124 |
| **5/31/16** | $1004147 | $1004096 | $1002359 |
| **6/30/16** | $1011874 | $1022137 | $1008974 |
| **7/31/16** | $1013911 | $1028599 | $1011165 |
| **8/31/16** | $1015336 | $1027423 | $1012753 |
| **9/30/16** | $1019189 | $1026821 | $1015383 |
| **10/31/16** | $1017226 | $1018967 | $1014025 |
| **11/30/16** | $1000744 | $994865 | $998296 |
| **12/31/16** | $1002116 | $996268 | $998104 |
| **1/31/17** | $1001960 | $998223 | $996957 |
| **2/28/17** | $1007939 | $1004932 | $1001329 |
| **3/31/17** | $1007659 | $1004405 | $1000930 |
| **4/30/17** | $1012249 | $1012156 | $1005814 |
| **5/31/17** | $1019137 | $1019947 | $1011992 |
| **6/30/17** | $1013279 | $1018920 | $1006944 |
| **7/31/17** | $1020056 | $1023305 | $1011464 |
| **8/31/17** | $1025038 | $1032484 | $1017449 |
| **9/30/17** | $1024675 | $1027566 | $1016430 |
| **10/31/17** | $1022224 | $1028161 | $1015948 |
| **11/30/17** | $1019864 | $1026841 | $1014354 |
| **12/31/17** | $1022676 | $1031554 | $1016682 |
| **1/31/18** | $1009221 | $1019674 | $1005537 |
| **2/28/18** | $1001341 | $1010008 | $997265 |
| **3/31/18** | $1008515 | $1016485 | $1003743 |
| **4/30/18** | $1003367 | $1008925 | $999607 |
| **5/31/18** | $1010667 | $1016126 | $1007161 |
| **6/30/18** | $1012261 | $1014876 | $1007985 |
| **7/31/18** | $1013536 | $1015117 | $1008026 |
| **8/31/18** | $1019517 | $1021649 | $1013373 |
| **9/30/18** | $1013531 | $1015070 | $1007432 |
| **10/31/18** | $1004814 | $1007049 | $999896 |
| **11/30/18** | $1015304 | $1013060 | $1008595 |
| **12/31/18** | $1031032 | $1031671 | $1027070 |
| **1/31/19** | $1040438 | $1042627 | $1035448 |
| **2/28/19** | $1040482 | $1042023 | $1034822 |
| **3/31/19** | $1054919 | $1062032 | $1048536 |
| **4/30/19** | $1054011 | $1062304 | $1047545 |
| **5/31/19** | $1065615 | $1081161 | $1060666 |
| **6/30/19** | $1075190 | $1094739 | $1069280 |
| **7/31/19** | $1079915 | $1097147 | $1072604 |
| **8/31/19** | $1087963 | $1125576 | $1081295 |
| **9/30/19** | $1089673 | $1119581 | $1081352 |
| **10/31/19** | $1094483 | $1122953 | $1085928 |
| **11/30/19** | $1095423 | $1122381 | $1085704 |
| **12/31/19** | $1098549 | $1121599 | $1087175 |
| **1/31/20** | $1101546 | $1143184 | $1092430 |
| **2/29/20** | $1111289 | $1163759 | $1102308 |
| **3/31/20** | $1127631 | $1156911 | $1120159 |
| **4/30/20** | $1141895 | $1177476 | $1126953 |
| **5/31/20** | $1145194 | $1182959 | $1128186 |
| **6/30/20** | $1146316 | $1190410 | $1126702 |
| **7/31/20** | $1145282 | $1208191 | $1123873 |
| **8/31/20** | $1148978 | $1198439 | $1123230 |
| **9/30/20** | $1149867 | $1197782 | $1123123 |
| **10/31/20** | $1152754 | $1192434 | $1123201 |
| **11/30/20** | $1156554 | $1204134 | $1125193 |
| **12/31/20** | $1161825 | $1205794 | $1127190 |
| **1/31/21** | $1164450 | $1197148 | $1125204 |
| **2/28/21** | $1159131 | $1179861 | $1118855 |
| **3/31/21** | $1156664 | $1165128 | $1116151 |
| **4/30/21** | $1163389 | $1174333 | $1120081 |
| **5/31/21** | $1156777 | $1178169 | $1116354 |
| **6/30/21** | $1158845 | $1186447 | $1115964 |
| **7/31/21** | $1161897 | $1199713 | $1119308 |
| **8/31/21** | $1162648 | $1197429 | $1118307 |
| **9/30/21** | $1161433 | $1187061 | $1115958 |
| **10/31/21** | $1158180 | $1186734 | $1112365 |
| **11/30/21** | $1156068 | $1190245 | $1111875 |
| **12/31/21** | $1154313 | $1187200 | $1110871 |
| **1/31/22** | $1141302 | $1161622 | $1097358 |
| **2/28/22** | $1134052 | $1148663 | $1091061 |
| **3/31/22** | $1100858 | $1116751 | $1064785 |
| **4/30/22** | $1060086 | $1074373 | $1030343 |
| **5/31/22** | $1075450 | $1081300 | $1042119 |
| **6/30/22** | $1050426 | $1064336 | $1023396 |
| **7/31/22** | $1082500 | $1090343 | $1056331 |
| **8/31/22** | $1048583 | $1059533 | $1023492 |
| **9/30/22** | $990142 | $1013755 | $970949 |
| **10/31/22** | $979301 | $1000624 | $962826 |
| **11/30/22** | $1015890 | $1037423 | $998973 |
| **12/31/22** | $1004765 | $1032743 | $991338 |
| **1/31/23** | $1041909 | $1064515 | $1023913 |
| **2/28/23** | $1018562 | $1036991 | $998309 |
| **3/31/23** | $1036988 | $1063333 | $1017061 |
| **4/30/23** | $1041672 | $1069778 | $1022874 |
| **5/31/23** | $1033420 | $1058130 | $1014964 |
| **6/30/23** | $1033757 | $1054356 | $1011877 |
| **7/31/23** | $1033481 | $1053621 | $1012171 |
| **8/31/23** | $1026658 | $1046891 | $1004833 |
| **9/30/23** | $997632 | $1020288 | $973776 |
| **10/31/23** | $977212 | $1004186 | $955170 |
| **11/30/23** | $1027609 | $1049662 | $1002894 |
| **12/31/23** | $1068312 | $1089842 | $1044878 |
| **1/31/24** | $1066035 | $1086849 | $1039826 |
| **2/29/24** | $1053965 | $1071494 | $1023018 |
| **3/31/24** | $1067120 | $1081388 | $1033831 |
| **4/30/24** | $1039364 | $1054074 | $1006032 |
| **5/31/24** | $1059958 | $1071944 | $1023852 |
| **6/30/24** | $1069628 | $1082092 | $1034327 |
| **7/31/24** | $1095948 | $1107367 | $1059412 |
| **8/31/24** | $1111060 | $1123279 | $1075260 |
| **9/30/24** | $1122008 | $1138319 | $1085634 |
| **10/31/24** | $1088688 | $1110090 | $1057302 |
| **11/30/24** | $1104589 | $1121827 | $1070809 |
| **12/31/24** | $1087455 | $1103468 | $1054890 |
| **1/31/25** | $1096472 | $1109322 | $1060833 |
| **2/28/25** | $1124453 | $1133729 | $1086504 |
| **3/31/25** | $1125772 | $1134155 | $1087381 |
| **4/30/25** | $1126036 | $1138613 | $1088242 |
| **5/31/25** | $1115655 | $1130460 | $1079766 |
| **6/30/25** | $1137826 | $1147843 | $1098374 |
| **7/31/25** | $1132071 | $1144815 | $1094160 |
| **8/31/25** | $1154472 | $1158507 | $1111265 |
| **9/30/25** | $1162129 | $1171145 | $1122421 |
| **10/31/25** | $1171617 | $1178462 | $1131701 |
| **11/30/25** | $1179269 | $1185785 | $1138350 |
| **12/31/25** | $1181366 | $1184031 | $1140091 |
| **1/31/26** | $1189305 | $1185295 | $1146730 |
| **2/28/26** | $1212162 | $1204706 | $1164876 |
| **3/31/26** | $1192444 | $1183475 | $1147242 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 5.92% | 0.61% | 1.78% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1334311 |
| # of Portfolio Holdings | 2094 |
| Portfolio Turnover Rate | 1,297% |
| Total Net Advisory Fees Paid During the Reporting Period | $3314 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 257.2% |
| Non-Agency Mortgage-Backed Securities | 2.2% |
| Asset-Backed Securities | 1.2% |
| Short-Term Instruments | 1.1% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 1.8% |
| Other Assets and Liabilities, Net | (163.5%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.54% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PDMIX
![Image](g112232g01x08.jpg)

# PIMCO GNMA and Government Securities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0134TSRAR_033126

# I-2: PPGNX

# PIMCO GNMA and Government Securities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO GNMA and Government Securities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $260 | 2.53% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to GNMA mortgage-backed securities ("MBS") positions contributed to relative performance versus the Bloomberg GNMA Index ("Index"), as spreads tightened.

* Exposure to structured agency MBS positions contributed to relative performance versus the Index, as interest only agency collateralized mortgage obligations posted positive returns.

* Exposure to senior collateralized loan obligations contributed to relative performance versus the Index, as spreads tightened.

* Exposure to conventional MBS positions detracted from relative performance versus the Index, as spreads tightened.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g56p10.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg GNMA Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1002722 | $1003838 | $1001124 |
| **5/31/16** | $1003981 | $1004096 | $1002359 |
| **6/30/16** | $1011623 | $1022137 | $1008974 |
| **7/31/16** | $1013571 | $1028599 | $1011165 |
| **8/31/16** | $1014909 | $1027423 | $1012753 |
| **9/30/16** | $1018671 | $1026821 | $1015383 |
| **10/31/16** | $1016629 | $1018967 | $1014025 |
| **11/30/16** | $1000066 | $994865 | $998296 |
| **12/31/16** | $1001348 | $996268 | $998104 |
| **1/31/17** | $1001112 | $998223 | $996957 |
| **2/28/17** | $1007010 | $1004932 | $1001329 |
| **3/31/17** | $1006640 | $1004405 | $1000930 |
| **4/30/17** | $1011147 | $1012156 | $1005814 |
| **5/31/17** | $1017946 | $1019947 | $1011992 |
| **6/30/17** | $1012006 | $1018920 | $1006944 |
| **7/31/17** | $1018692 | $1023305 | $1011464 |
| **8/31/17** | $1023581 | $1032484 | $1017449 |
| **9/30/17** | $1023132 | $1027566 | $1016430 |
| **10/31/17** | $1020600 | $1028161 | $1015948 |
| **11/30/17** | $1018160 | $1026841 | $1014354 |
| **12/31/17** | $1020878 | $1031554 | $1016682 |
| **1/31/18** | $1007364 | $1019674 | $1005537 |
| **2/28/18** | $999422 | $1010008 | $997265 |
| **3/31/18** | $1006494 | $1016485 | $1003743 |
| **4/30/18** | $1001276 | $1008925 | $999607 |
| **5/31/18** | $1008476 | $1016126 | $1007161 |
| **6/30/18** | $1009981 | $1014876 | $1007985 |
| **7/31/18** | $1011170 | $1015117 | $1008026 |
| **8/31/18** | $1017043 | $1021649 | $1013373 |
| **9/30/18** | $1010997 | $1015070 | $1007432 |
| **10/31/18** | $1002216 | $1007049 | $999896 |
| **11/30/18** | $1012591 | $1013060 | $1008595 |
| **12/31/18** | $1028195 | $1031671 | $1027070 |
| **1/31/19** | $1037491 | $1042627 | $1035448 |
| **2/28/19** | $1037456 | $1042023 | $1034822 |
| **3/31/19** | $1051763 | $1062032 | $1048536 |
| **4/30/19** | $1050776 | $1062304 | $1047545 |
| **5/31/19** | $1062252 | $1081161 | $1060666 |
| **6/30/19** | $1071714 | $1094739 | $1069280 |
| **7/31/19** | $1076334 | $1097147 | $1072604 |
| **8/31/19** | $1084261 | $1125576 | $1081295 |
| **9/30/19** | $1085882 | $1119581 | $1081352 |
| **10/31/19** | $1090582 | $1122953 | $1085928 |
| **11/30/19** | $1091429 | $1122381 | $1085704 |
| **12/31/19** | $1094451 | $1121599 | $1087175 |
| **1/31/20** | $1097342 | $1143184 | $1092430 |
| **2/29/20** | $1106964 | $1163759 | $1102308 |
| **3/31/20** | $1123156 | $1156911 | $1120159 |
| **4/30/20** | $1137271 | $1177476 | $1126953 |
| **5/31/20** | $1140461 | $1182959 | $1128186 |
| **6/30/20** | $1141483 | $1190410 | $1126702 |
| **7/31/20** | $1140352 | $1208191 | $1123873 |
| **8/31/20** | $1143942 | $1198439 | $1123230 |
| **9/30/20** | $1144735 | $1197782 | $1123123 |
| **10/31/20** | $1147510 | $1192434 | $1123201 |
| **11/30/20** | $1151201 | $1204134 | $1125193 |
| **12/31/20** | $1156340 | $1205794 | $1127190 |
| **1/31/21** | $1158863 | $1197148 | $1125204 |
| **2/28/21** | $1153480 | $1179861 | $1118855 |
| **3/31/21** | $1150928 | $1165128 | $1116151 |
| **4/30/21** | $1157518 | $1174333 | $1120081 |
| **5/31/21** | $1150844 | $1178169 | $1116354 |
| **6/30/21** | $1152807 | $1186447 | $1115964 |
| **7/31/21** | $1155743 | $1199713 | $1119308 |
| **8/31/21** | $1156394 | $1197429 | $1118307 |
| **9/30/21** | $1155092 | $1187061 | $1115958 |
| **10/31/21** | $1151758 | $1186734 | $1112365 |
| **11/30/21** | $1149564 | $1190245 | $1111875 |
| **12/31/21** | $1147714 | $1187200 | $1110871 |
| **1/31/22** | $1134687 | $1161622 | $1097358 |
| **2/28/22** | $1127392 | $1148663 | $1091061 |
| **3/31/22** | $1094299 | $1116751 | $1064785 |
| **4/30/22** | $1053681 | $1074373 | $1030343 |
| **5/31/22** | $1068865 | $1081300 | $1042119 |
| **6/30/22** | $1043908 | $1064336 | $1023396 |
| **7/31/22** | $1075695 | $1090343 | $1056331 |
| **8/31/22** | $1041900 | $1059533 | $1023492 |
| **9/30/22** | $983744 | $1013755 | $970949 |
| **10/31/22** | $972897 | $1000624 | $962826 |
| **11/30/22** | $1009167 | $1037423 | $998973 |
| **12/31/22** | $998023 | $1032743 | $991338 |
| **1/31/23** | $1034835 | $1064515 | $1023913 |
| **2/28/23** | $1011570 | $1036991 | $998309 |
| **3/31/23** | $1029778 | $1063333 | $1017061 |
| **4/30/23** | $1034352 | $1069778 | $1022874 |
| **5/31/23** | $1026073 | $1058130 | $1014964 |
| **6/30/23** | $1026318 | $1054356 | $1011877 |
| **7/31/23** | $1025959 | $1053621 | $1012171 |
| **8/31/23** | $1019101 | $1046891 | $1004833 |
| **9/30/23** | $990204 | $1020288 | $973776 |
| **10/31/23** | $969857 | $1004186 | $955170 |
| **11/30/23** | $1019789 | $1049662 | $1002894 |
| **12/31/23** | $1060090 | $1089842 | $1044878 |
| **1/31/24** | $1057740 | $1086849 | $1039826 |
| **2/29/24** | $1045682 | $1071494 | $1023018 |
| **3/31/24** | $1058644 | $1081388 | $1033831 |
| **4/30/24** | $1031021 | $1054074 | $1006032 |
| **5/31/24** | $1051354 | $1071944 | $1023852 |
| **6/30/24** | $1060863 | $1082092 | $1034327 |
| **7/31/24** | $1086876 | $1107367 | $1059412 |
| **8/31/24** | $1101763 | $1123279 | $1075260 |
| **9/30/24** | $1112535 | $1138319 | $1085634 |
| **10/31/24** | $1079403 | $1110090 | $1057302 |
| **11/30/24** | $1095076 | $1121827 | $1070809 |
| **12/31/24** | $1077994 | $1103468 | $1054890 |
| **1/31/25** | $1086839 | $1109322 | $1060833 |
| **2/28/25** | $1114491 | $1133729 | $1086504 |
| **3/31/25** | $1115709 | $1134155 | $1087381 |
| **4/30/25** | $1115879 | $1138613 | $1088242 |
| **5/31/25** | $1105495 | $1130460 | $1079766 |
| **6/30/25** | $1127377 | $1147843 | $1098374 |
| **7/31/25** | $1121580 | $1144815 | $1094160 |
| **8/31/25** | $1143674 | $1158507 | $1111265 |
| **9/30/25** | $1151167 | $1171145 | $1122421 |
| **10/31/25** | $1160461 | $1178462 | $1131701 |
| **11/30/25** | $1167951 | $1185785 | $1138350 |
| **12/31/25** | $1169927 | $1184031 | $1140091 |
| **1/31/26** | $1177690 | $1185295 | $1146730 |
| **2/28/26** | $1200232 | $1204706 | $1164876 |
| **3/31/26** | $1180611 | $1183475 | $1147242 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 5.82% | 0.51% | 1.67% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1334311 |
| # of Portfolio Holdings | 2094 |
| Portfolio Turnover Rate | 1,297% |
| Total Net Advisory Fees Paid During the Reporting Period | $3314 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 257.2% |
| Non-Agency Mortgage-Backed Securities | 2.2% |
| Asset-Backed Securities | 1.2% |
| Short-Term Instruments | 1.1% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 1.8% |
| Other Assets and Liabilities, Net | (163.5%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.54% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PPGNX
![Image](g112232g01x08.jpg)

# PIMCO GNMA and Government Securities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1905TSRAR_033126

# I-3: PANNX

# PIMCO GNMA and Government Securities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO GNMA and Government Securities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $265 | 2.58% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to GNMA mortgage-backed securities ("MBS") positions contributed to relative performance versus the Bloomberg GNMA Index ("Index"), as spreads tightened.

* Exposure to structured agency MBS positions contributed to relative performance versus the Index, as interest only agency collateralized mortgage obligations posted positive returns.

* Exposure to senior collateralized loan obligations contributed to relative performance versus the Index, as spreads tightened.

* Exposure to conventional MBS positions detracted from relative performance versus the Index, as spreads tightened.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of I-3 shares (1/31/2019), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by I-3 shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g59o14.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-3** | **Bloomberg U.S. Aggregate Index** | **Bloomberg GNMA Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1002684 | $1003838 | $1001124 |
| **5/31/16** | $1003897 | $1004096 | $1002359 |
| **6/30/16** | $1011498 | $1022137 | $1008974 |
| **7/31/16** | $1013405 | $1028599 | $1011165 |
| **8/31/16** | $1014702 | $1027423 | $1012753 |
| **9/30/16** | $1018427 | $1026821 | $1015383 |
| **10/31/16** | $1016337 | $1018967 | $1014025 |
| **11/30/16** | $999745 | $994865 | $998296 |
| **12/31/16** | $1000990 | $996268 | $998104 |
| **1/31/17** | $1000706 | $998223 | $996957 |
| **2/28/17** | $1006563 | $1004932 | $1001329 |
| **3/31/17** | $1006156 | $1004405 | $1000930 |
| **4/30/17** | $1010615 | $1012156 | $1005814 |
| **5/31/17** | $1017363 | $1019947 | $1011992 |
| **6/30/17** | $1011390 | $1018920 | $1006944 |
| **7/31/17** | $1018025 | $1023305 | $1011464 |
| **8/31/17** | $1022867 | $1032484 | $1017449 |
| **9/30/17** | $1022379 | $1027566 | $1016430 |
| **10/31/17** | $1019803 | $1028161 | $1015948 |
| **11/30/17** | $1017323 | $1026841 | $1014354 |
| **12/31/17** | $1019998 | $1031554 | $1016682 |
| **1/31/18** | $1006449 | $1019674 | $1005537 |
| **2/28/18** | $998477 | $1010008 | $997265 |
| **3/31/18** | $1005503 | $1016485 | $1003743 |
| **4/30/18** | $1000246 | $1008925 | $999607 |
| **5/31/18** | $1007396 | $1016126 | $1007161 |
| **6/30/18** | $1008861 | $1014876 | $1007985 |
| **7/31/18** | $1010004 | $1015117 | $1008026 |
| **8/31/18** | $1015835 | $1021649 | $1013373 |
| **9/30/18** | $1009746 | $1015070 | $1007432 |
| **10/31/18** | $1000934 | $1007049 | $999896 |
| **11/30/18** | $1011260 | $1013060 | $1008595 |
| **12/31/18** | $1026796 | $1031671 | $1027070 |
| **1/31/19** | $1036032 | $1042627 | $1035448 |
| **2/28/19** | $1035957 | $1042023 | $1034822 |
| **3/31/19** | $1050205 | $1062032 | $1048536 |
| **4/30/19** | $1049200 | $1062304 | $1047545 |
| **5/31/19** | $1060612 | $1081161 | $1060666 |
| **6/30/19** | $1070019 | $1094739 | $1069280 |
| **7/31/19** | $1074585 | $1097147 | $1072604 |
| **8/31/19** | $1082447 | $1125576 | $1081295 |
| **9/30/19** | $1084024 | $1119581 | $1081352 |
| **10/31/19** | $1088669 | $1122953 | $1085928 |
| **11/30/19** | $1089479 | $1122381 | $1085704 |
| **12/31/19** | $1092432 | $1121599 | $1087175 |
| **1/31/20** | $1095266 | $1143184 | $1092430 |
| **2/29/20** | $1104819 | $1163759 | $1102308 |
| **3/31/20** | $1120968 | $1156911 | $1120159 |
| **4/30/20** | $1135013 | $1177476 | $1126953 |
| **5/31/20** | $1138148 | $1182959 | $1128186 |
| **6/30/20** | $1139122 | $1190410 | $1126702 |
| **7/31/20** | $1137943 | $1208191 | $1123873 |
| **8/31/20** | $1141479 | $1198439 | $1123230 |
| **9/30/20** | $1142223 | $1197782 | $1123123 |
| **10/31/20** | $1144941 | $1192434 | $1123201 |
| **11/30/20** | $1148576 | $1204134 | $1125193 |
| **12/31/20** | $1153645 | $1205794 | $1127190 |
| **1/31/21** | $1156116 | $1197148 | $1125204 |
| **2/28/21** | $1150703 | $1179861 | $1118855 |
| **3/31/21** | $1148048 | $1165128 | $1116151 |
| **4/30/21** | $1154563 | $1174333 | $1120081 |
| **5/31/21** | $1147864 | $1178169 | $1116354 |
| **6/30/21** | $1149783 | $1186447 | $1115964 |
| **7/31/21** | $1152655 | $1199713 | $1119308 |
| **8/31/21** | $1153262 | $1197429 | $1118307 |
| **9/30/21** | $1151916 | $1187061 | $1115958 |
| **10/31/21** | $1148532 | $1186734 | $1112365 |
| **11/30/21** | $1146298 | $1190245 | $1111875 |
| **12/31/21** | $1144405 | $1187200 | $1110871 |
| **1/31/22** | $1131371 | $1161622 | $1097358 |
| **2/28/22** | $1124055 | $1148663 | $1091061 |
| **3/31/22** | $1091014 | $1116751 | $1064785 |
| **4/30/22** | $1050472 | $1074373 | $1030343 |
| **5/31/22** | $1065573 | $1081300 | $1042119 |
| **6/30/22** | $1040650 | $1064336 | $1023396 |
| **7/31/22** | $1072294 | $1090343 | $1056331 |
| **8/31/22** | $1038570 | $1059533 | $1023492 |
| **9/30/22** | $980559 | $1013755 | $970949 |
| **10/31/22** | $969708 | $1000624 | $962826 |
| **11/30/22** | $1005820 | $1037423 | $998973 |
| **12/31/22** | $994676 | $1032743 | $991338 |
| **1/31/23** | $1031333 | $1064515 | $1023913 |
| **2/28/23** | $1008105 | $1036991 | $998309 |
| **3/31/23** | $1026204 | $1063333 | $1017061 |
| **4/30/23** | $1030722 | $1069778 | $1022874 |
| **5/31/23** | $1022430 | $1058130 | $1014964 |
| **6/30/23** | $1022630 | $1054356 | $1011877 |
| **7/31/23** | $1022236 | $1053621 | $1012171 |
| **8/31/23** | $1015359 | $1046891 | $1004833 |
| **9/30/23** | $986525 | $1020288 | $973776 |
| **10/31/23** | $966215 | $1004186 | $955170 |
| **11/30/23** | $1015919 | $1049662 | $1002894 |
| **12/31/23** | $1056023 | $1089842 | $1044878 |
| **1/31/24** | $1053643 | $1086849 | $1039826 |
| **2/29/24** | $1041590 | $1071494 | $1023018 |
| **3/31/24** | $1054457 | $1081388 | $1033831 |
| **4/30/24** | $1026903 | $1054074 | $1006032 |
| **5/31/24** | $1047109 | $1071944 | $1023852 |
| **6/30/24** | $1056540 | $1082092 | $1034327 |
| **7/31/24** | $1082402 | $1107367 | $1059412 |
| **8/31/24** | $1097178 | $1123279 | $1075260 |
| **9/30/24** | $1107863 | $1138319 | $1085634 |
| **10/31/24** | $1074824 | $1110090 | $1057302 |
| **11/30/24** | $1090385 | $1121827 | $1070809 |
| **12/31/24** | $1073330 | $1103468 | $1054890 |
| **1/31/25** | $1082089 | $1109322 | $1060833 |
| **2/28/25** | $1109579 | $1133729 | $1086504 |
| **3/31/25** | $1110749 | $1134155 | $1087381 |
| **4/30/25** | $1110871 | $1138613 | $1088242 |
| **5/31/25** | $1100486 | $1130460 | $1079766 |
| **6/30/25** | $1122223 | $1147843 | $1098374 |
| **7/31/25** | $1116405 | $1144815 | $1094160 |
| **8/31/25** | $1138348 | $1158507 | $1111265 |
| **9/30/25** | $1145761 | $1171145 | $1122421 |
| **10/31/25** | $1154958 | $1178462 | $1131701 |
| **11/30/25** | $1162369 | $1185785 | $1138350 |
| **12/31/25** | $1164287 | $1184031 | $1140091 |
| **1/31/26** | $1171963 | $1185295 | $1146730 |
| **2/28/26** | $1194351 | $1204706 | $1164876 |
| **3/31/26** | $1174774 | $1183475 | $1147242 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-3 | 5.76% | 0.46% | 1.62% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1334311 |
| # of Portfolio Holdings | 2094 |
| Portfolio Turnover Rate | 1,297% |
| Total Net Advisory Fees Paid During the Reporting Period | $3314 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 257.2% |
| Non-Agency Mortgage-Backed Securities | 2.2% |
| Asset-Backed Securities | 1.2% |
| Short-Term Instruments | 1.1% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 1.8% |
| Other Assets and Liabilities, Net | (163.5%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.54% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PANNX
![Image](g112232g01x08.jpg)

# PIMCO GNMA and Government Securities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2211TSRAR_033126

# Class A: PBDAX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $99 | 0.97% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g92p89.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $9621 | $10000 | $10000 |
| **4/30/16** | $9744 | $10038 | $10122 |
| **5/31/16** | $9782 | $10041 | $10118 |
| **6/30/16** | $9992 | $10221 | $10348 |
| **7/31/16** | $10164 | $10286 | $10484 |
| **8/31/16** | $10191 | $10274 | $10505 |
| **9/30/16** | $10212 | $10268 | $10476 |
| **10/31/16** | $10142 | $10190 | $10386 |
| **11/30/16** | $9842 | $9949 | $10103 |
| **12/31/16** | $9932 | $9963 | $10165 |
| **1/31/17** | $9996 | $9982 | $10199 |
| **2/28/17** | $10120 | $10049 | $10312 |
| **3/31/17** | $10160 | $10044 | $10296 |
| **4/30/17** | $10275 | $10122 | $10399 |
| **5/31/17** | $10384 | $10199 | $10511 |
| **6/30/17** | $10425 | $10189 | $10539 |
| **7/31/17** | $10501 | $10233 | $10616 |
| **8/31/17** | $10608 | $10325 | $10705 |
| **9/30/17** | $10597 | $10276 | $10681 |
| **10/31/17** | $10626 | $10282 | $10717 |
| **11/30/17** | $10616 | $10268 | $10707 |
| **12/31/17** | $10679 | $10316 | $10792 |
| **1/31/18** | $10595 | $10197 | $10692 |
| **2/28/18** | $10461 | $10100 | $10530 |
| **3/31/18** | $10513 | $10165 | $10563 |
| **4/30/18** | $10418 | $10089 | $10466 |
| **5/31/18** | $10397 | $10161 | $10519 |
| **6/30/18** | $10368 | $10149 | $10470 |
| **7/31/18** | $10449 | $10151 | $10545 |
| **8/31/18** | $10483 | $10216 | $10599 |
| **9/30/18** | $10450 | $10151 | $10563 |
| **10/31/18** | $10325 | $10070 | $10415 |
| **11/30/18** | $10308 | $10131 | $10408 |
| **12/31/18** | $10421 | $10317 | $10565 |
| **1/31/19** | $10674 | $10426 | $10793 |
| **2/28/19** | $10738 | $10420 | $10816 |
| **3/31/19** | $10985 | $10620 | $11080 |
| **4/30/19** | $11051 | $10623 | $11134 |
| **5/31/19** | $11194 | $10812 | $11298 |
| **6/30/19** | $11430 | $10947 | $11553 |
| **7/31/19** | $11486 | $10971 | $11613 |
| **8/31/19** | $11812 | $11256 | $11976 |
| **9/30/19** | $11758 | $11196 | $11897 |
| **10/31/19** | $11857 | $11230 | $11965 |
| **11/30/19** | $11872 | $11224 | $11988 |
| **12/31/19** | $11907 | $11216 | $12022 |
| **1/31/20** | $12205 | $11432 | $12304 |
| **2/29/20** | $12283 | $11638 | $12471 |
| **3/31/20** | $11179 | $11569 | $11644 |
| **4/30/20** | $11684 | $11775 | $12177 |
| **5/31/20** | $11900 | $11830 | $12375 |
| **6/30/20** | $12127 | $11904 | $12601 |
| **7/31/20** | $12480 | $12082 | $12990 |
| **8/31/20** | $12409 | $11984 | $12825 |
| **9/30/20** | $12360 | $11978 | $12790 |
| **10/31/20** | $12292 | $11924 | $12762 |
| **11/30/20** | $12656 | $12041 | $13087 |
| **12/31/20** | $12750 | $12058 | $13147 |
| **1/31/21** | $12609 | $11971 | $12990 |
| **2/28/21** | $12389 | $11799 | $12765 |
| **3/31/21** | $12193 | $11651 | $12561 |
| **4/30/21** | $12352 | $11743 | $12695 |
| **5/31/21** | $12414 | $11782 | $12786 |
| **6/30/21** | $12595 | $11864 | $12979 |
| **7/31/21** | $12755 | $11997 | $13147 |
| **8/31/21** | $12762 | $11974 | $13116 |
| **9/30/21** | $12587 | $11871 | $12975 |
| **10/31/21** | $12530 | $11867 | $13004 |
| **11/30/21** | $12539 | $11902 | $13015 |
| **12/31/21** | $12569 | $11872 | $13004 |
| **1/31/22** | $12213 | $11616 | $12587 |
| **2/28/22** | $11926 | $11487 | $12350 |
| **3/31/22** | $11557 | $11168 | $12039 |
| **4/30/22** | $11000 | $10744 | $11408 |
| **5/31/22** | $11007 | $10813 | $11510 |
| **6/30/22** | $10631 | $10643 | $11209 |
| **7/31/22** | $10984 | $10903 | $11549 |
| **8/31/22** | $10704 | $10595 | $11223 |
| **9/30/22** | $10221 | $10138 | $10654 |
| **10/31/22** | $10082 | $10006 | $10544 |
| **11/30/22** | $10568 | $10374 | $11068 |
| **12/31/22** | $10537 | $10327 | $11020 |
| **1/31/23** | $10989 | $10645 | $11441 |
| **2/28/23** | $10714 | $10370 | $11096 |
| **3/31/23** | $10927 | $10633 | $11401 |
| **4/30/23** | $11006 | $10698 | $11490 |
| **5/31/23** | $10866 | $10581 | $11330 |
| **6/30/23** | $10889 | $10544 | $11365 |
| **7/31/23** | $10932 | $10536 | $11400 |
| **8/31/23** | $10855 | $10469 | $11318 |
| **9/30/23** | $10554 | $10203 | $11024 |
| **10/31/23** | $10338 | $10042 | $10828 |
| **11/30/23** | $10922 | $10497 | $11442 |
| **12/31/23** | $11371 | $10898 | $11922 |
| **1/31/24** | $11392 | $10868 | $11901 |
| **2/29/24** | $11250 | $10715 | $11729 |
| **3/31/24** | $11374 | $10814 | $11873 |
| **4/30/24** | $11093 | $10541 | $11578 |
| **5/31/24** | $11312 | $10719 | $11789 |
| **6/30/24** | $11398 | $10821 | $11867 |
| **7/31/24** | $11680 | $11074 | $12146 |
| **8/31/24** | $11850 | $11233 | $12335 |
| **9/30/24** | $12041 | $11383 | $12545 |
| **10/31/24** | $11742 | $11101 | $12242 |
| **11/30/24** | $11902 | $11218 | $12398 |
| **12/31/24** | $11697 | $11035 | $12164 |
| **1/31/25** | $11778 | $11093 | $12232 |
| **2/28/25** | $12069 | $11337 | $12481 |
| **3/31/25** | $12018 | $11342 | $12451 |
| **4/30/25** | $12036 | $11386 | $12459 |
| **5/31/25** | $11988 | $11305 | $12450 |
| **6/30/25** | $12218 | $11478 | $12678 |
| **7/31/25** | $12196 | $11448 | $12684 |
| **8/31/25** | $12350 | $11585 | $12818 |
| **9/30/25** | $12515 | $11711 | $13003 |
| **10/31/25** | $12605 | $11785 | $13061 |
| **11/30/25** | $12688 | $11858 | $13142 |
| **12/31/25** | $12640 | $11840 | $13117 |
| **1/31/26** | $12688 | $11853 | $13138 |
| **2/28/26** | $12870 | $12047 | $13315 |
| **3/31/26** | $12531 | $11835 | $13054 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 4.26% | 0.55% | 2.68% |
| Class A (including sales charge) | 0.38% | (0.22%) | 2.28% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PBDAX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4051TSRAR_033126

# Administrative Class: PGCAX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Administrative Class | $84 | 0.82% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g89x32.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Administrative Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1012957 | $1003838 | $1012211 |
| **5/31/16** | $1017038 | $1004096 | $1011772 |
| **6/30/16** | $1038961 | $1022137 | $1034835 |
| **7/31/16** | $1056941 | $1028599 | $1048393 |
| **8/31/16** | $1059970 | $1027423 | $1050458 |
| **9/30/16** | $1062217 | $1026821 | $1047568 |
| **10/31/16** | $1055121 | $1018967 | $1038625 |
| **11/30/16** | $1024056 | $994865 | $1010303 |
| **12/31/16** | $1033466 | $996268 | $1016452 |
| **1/31/17** | $1040224 | $998223 | $1019872 |
| **2/28/17** | $1053324 | $1004932 | $1031195 |
| **3/31/17** | $1057615 | $1004405 | $1029636 |
| **4/30/17** | $1069731 | $1012156 | $1039931 |
| **5/31/17** | $1081199 | $1019947 | $1051113 |
| **6/30/17** | $1085609 | $1018920 | $1053860 |
| **7/31/17** | $1093624 | $1023305 | $1061573 |
| **8/31/17** | $1104937 | $1032484 | $1070455 |
| **9/30/17** | $1103960 | $1027566 | $1068070 |
| **10/31/17** | $1107037 | $1028161 | $1071686 |
| **11/30/17** | $1106169 | $1026841 | $1070718 |
| **12/31/17** | $1112839 | $1031554 | $1079248 |
| **1/31/18** | $1104293 | $1019674 | $1069229 |
| **2/28/18** | $1090453 | $1010008 | $1053033 |
| **3/31/18** | $1095934 | $1016485 | $1056276 |
| **4/30/18** | $1086226 | $1008925 | $1046646 |
| **5/31/18** | $1084166 | $1016126 | $1051928 |
| **6/30/18** | $1081228 | $1014876 | $1047014 |
| **7/31/18** | $1089824 | $1015117 | $1054524 |
| **8/31/18** | $1093527 | $1021649 | $1059902 |
| **9/30/18** | $1090203 | $1015070 | $1056330 |
| **10/31/18** | $1077360 | $1007049 | $1041539 |
| **11/30/18** | $1075653 | $1013060 | $1040833 |
| **12/31/18** | $1087644 | $1031671 | $1056480 |
| **1/31/19** | $1114130 | $1042627 | $1079313 |
| **2/28/19** | $1120995 | $1042023 | $1081635 |
| **3/31/19** | $1146898 | $1062032 | $1107978 |
| **4/30/19** | $1153963 | $1062304 | $1113417 |
| **5/31/19** | $1169003 | $1081161 | $1129773 |
| **6/30/19** | $1193773 | $1094739 | $1155299 |
| **7/31/19** | $1199741 | $1097147 | $1161259 |
| **8/31/19** | $1234026 | $1125576 | $1197567 |
| **9/30/19** | $1228486 | $1119581 | $1189739 |
| **10/31/19** | $1239014 | $1122953 | $1196516 |
| **11/30/19** | $1240674 | $1122381 | $1198785 |
| **12/31/19** | $1244580 | $1121599 | $1202234 |
| **1/31/20** | $1275895 | $1143184 | $1230358 |
| **2/29/20** | $1284149 | $1163759 | $1247091 |
| **3/31/20** | $1168832 | $1156911 | $1164437 |
| **4/30/20** | $1221794 | $1177476 | $1217725 |
| **5/31/20** | $1244590 | $1182959 | $1237521 |
| **6/30/20** | $1268466 | $1190410 | $1260131 |
| **7/31/20** | $1305610 | $1208191 | $1298992 |
| **8/31/20** | $1298252 | $1198439 | $1282537 |
| **9/30/20** | $1293342 | $1197782 | $1279017 |
| **10/31/20** | $1286375 | $1192434 | $1276187 |
| **11/30/20** | $1324591 | $1204134 | $1308677 |
| **12/31/20** | $1334673 | $1205794 | $1314653 |
| **1/31/21** | $1320029 | $1197148 | $1299009 |
| **2/28/21** | $1297183 | $1179861 | $1276469 |
| **3/31/21** | $1276769 | $1165128 | $1256138 |
| **4/30/21** | $1293571 | $1174333 | $1269483 |
| **5/31/21** | $1300277 | $1178169 | $1278642 |
| **6/30/21** | $1319314 | $1186447 | $1297871 |
| **7/31/21** | $1336261 | $1199713 | $1314736 |
| **8/31/21** | $1337194 | $1197429 | $1311576 |
| **9/30/21** | $1318959 | $1187061 | $1297544 |
| **10/31/21** | $1313172 | $1186734 | $1300375 |
| **11/30/21** | $1314263 | $1190245 | $1301469 |
| **12/31/21** | $1317636 | $1187200 | $1300447 |
| **1/31/22** | $1280491 | $1161622 | $1258735 |
| **2/28/22** | $1250515 | $1148663 | $1234977 |
| **3/31/22** | $1211989 | $1116751 | $1203942 |
| **4/30/22** | $1153705 | $1074373 | $1140846 |
| **5/31/22** | $1154543 | $1081300 | $1150953 |
| **6/30/22** | $1115313 | $1064336 | $1120900 |
| **7/31/22** | $1152444 | $1090343 | $1154937 |
| **8/31/22** | $1123194 | $1059533 | $1122286 |
| **9/30/22** | $1072658 | $1013755 | $1065432 |
| **10/31/22** | $1058256 | $1000624 | $1054435 |
| **11/30/22** | $1109376 | $1037423 | $1106816 |
| **12/31/22** | $1106230 | $1032743 | $1102042 |
| **1/31/23** | $1153797 | $1064515 | $1144073 |
| **2/28/23** | $1125093 | $1036991 | $1109648 |
| **3/31/23** | $1147660 | $1063333 | $1140065 |
| **4/30/23** | $1156036 | $1069778 | $1149026 |
| **5/31/23** | $1141500 | $1058130 | $1133026 |
| **6/30/23** | $1144009 | $1054356 | $1136531 |
| **7/31/23** | $1148727 | $1053621 | $1140009 |
| **8/31/23** | $1140714 | $1046891 | $1131795 |
| **9/30/23** | $1109257 | $1020288 | $1102351 |
| **10/31/23** | $1086665 | $1004186 | $1082758 |
| **11/30/23** | $1148235 | $1049662 | $1144208 |
| **12/31/23** | $1195599 | $1089842 | $1192205 |
| **1/31/24** | $1197942 | $1086849 | $1190075 |
| **2/29/24** | $1183173 | $1071494 | $1172910 |
| **3/31/24** | $1196299 | $1081388 | $1187327 |
| **4/30/24** | $1166958 | $1054074 | $1157787 |
| **5/31/24** | $1190110 | $1071944 | $1178897 |
| **6/30/24** | $1199274 | $1082092 | $1186738 |
| **7/31/24** | $1229086 | $1107367 | $1214600 |
| **8/31/24** | $1247178 | $1123279 | $1233477 |
| **9/30/24** | $1267478 | $1138319 | $1254532 |
| **10/31/24** | $1236111 | $1110090 | $1224242 |
| **11/30/24** | $1253090 | $1121827 | $1239823 |
| **12/31/24** | $1231676 | $1103468 | $1216399 |
| **1/31/25** | $1240441 | $1109322 | $1223235 |
| **2/28/25** | $1271235 | $1133729 | $1248127 |
| **3/31/25** | $1265993 | $1134155 | $1245139 |
| **4/30/25** | $1268002 | $1138613 | $1245914 |
| **5/31/25** | $1263094 | $1130460 | $1244998 |
| **6/30/25** | $1287459 | $1147843 | $1267779 |
| **7/31/25** | $1285371 | $1144815 | $1268446 |
| **8/31/25** | $1301761 | $1158507 | $1281830 |
| **9/30/25** | $1319312 | $1171145 | $1300315 |
| **10/31/25** | $1328982 | $1178462 | $1306064 |
| **11/30/25** | $1337826 | $1185785 | $1314176 |
| **12/31/25** | $1333016 | $1184031 | $1311692 |
| **1/31/26** | $1338196 | $1185295 | $1313758 |
| **2/28/26** | $1357567 | $1204706 | $1331512 |
| **3/31/26** | $1321920 | $1183475 | $1305426 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Administrative Class | 4.42% | 0.70% | 2.83% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Administrative Class: PGCAX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0438TSRAR_033126

# Class C: PBDCX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $175 | 1.72% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g67y82.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10122 | $10038 | $10122 |
| **5/31/16** | $10155 | $10041 | $10118 |
| **6/30/16** | $10366 | $10221 | $10348 |
| **7/31/16** | $10538 | $10286 | $10484 |
| **8/31/16** | $10560 | $10274 | $10505 |
| **9/30/16** | $10574 | $10268 | $10476 |
| **10/31/16** | $10496 | $10190 | $10386 |
| **11/30/16** | $10179 | $9949 | $10103 |
| **12/31/16** | $10265 | $9963 | $10165 |
| **1/31/17** | $10325 | $9982 | $10199 |
| **2/28/17** | $10447 | $10049 | $10312 |
| **3/31/17** | $10482 | $10044 | $10296 |
| **4/30/17** | $10594 | $10122 | $10399 |
| **5/31/17** | $10700 | $10199 | $10511 |
| **6/30/17** | $10735 | $10189 | $10539 |
| **7/31/17** | $10807 | $10233 | $10616 |
| **8/31/17** | $10910 | $10325 | $10705 |
| **9/30/17** | $10892 | $10276 | $10681 |
| **10/31/17** | $10914 | $10282 | $10717 |
| **11/30/17** | $10898 | $10268 | $10707 |
| **12/31/17** | $10955 | $10316 | $10792 |
| **1/31/18** | $10863 | $10197 | $10692 |
| **2/28/18** | $10719 | $10100 | $10530 |
| **3/31/18** | $10764 | $10165 | $10563 |
| **4/30/18** | $10661 | $10089 | $10466 |
| **5/31/18** | $10633 | $10161 | $10519 |
| **6/30/18** | $10596 | $10149 | $10470 |
| **7/31/18** | $10673 | $10151 | $10545 |
| **8/31/18** | $10700 | $10216 | $10599 |
| **9/30/18** | $10660 | $10151 | $10563 |
| **10/31/18** | $10527 | $10070 | $10415 |
| **11/30/18** | $10502 | $10131 | $10408 |
| **12/31/18** | $10611 | $10317 | $10565 |
| **1/31/19** | $10862 | $10426 | $10793 |
| **2/28/19** | $10921 | $10420 | $10816 |
| **3/31/19** | $11165 | $10620 | $11080 |
| **4/30/19** | $11226 | $10623 | $11134 |
| **5/31/19** | $11363 | $10812 | $11298 |
| **6/30/19** | $11596 | $10947 | $11553 |
| **7/31/19** | $11645 | $10971 | $11613 |
| **8/31/19** | $11968 | $11256 | $11976 |
| **9/30/19** | $11906 | $11196 | $11897 |
| **10/31/19** | $11999 | $11230 | $11965 |
| **11/30/19** | $12006 | $11224 | $11988 |
| **12/31/19** | $12035 | $11216 | $12022 |
| **1/31/20** | $12328 | $11432 | $12304 |
| **2/29/20** | $12399 | $11638 | $12471 |
| **3/31/20** | $11277 | $11569 | $11644 |
| **4/30/20** | $11780 | $11775 | $12177 |
| **5/31/20** | $11990 | $11830 | $12375 |
| **6/30/20** | $12212 | $11904 | $12601 |
| **7/31/20** | $12559 | $12082 | $12990 |
| **8/31/20** | $12479 | $11984 | $12825 |
| **9/30/20** | $12423 | $11978 | $12790 |
| **10/31/20** | $12346 | $11924 | $12762 |
| **11/30/20** | $12704 | $12041 | $13087 |
| **12/31/20** | $12790 | $12058 | $13147 |
| **1/31/21** | $12641 | $11971 | $12990 |
| **2/28/21** | $12413 | $11799 | $12765 |
| **3/31/21** | $12209 | $11651 | $12561 |
| **4/30/21** | $12360 | $11743 | $12695 |
| **5/31/21** | $12415 | $11782 | $12786 |
| **6/30/21** | $12588 | $11864 | $12979 |
| **7/31/21** | $12739 | $11997 | $13147 |
| **8/31/21** | $12739 | $11974 | $13116 |
| **9/30/21** | $12556 | $11871 | $12975 |
| **10/31/21** | $12491 | $11867 | $13004 |
| **11/30/21** | $12492 | $11902 | $13015 |
| **12/31/21** | $12514 | $11872 | $13004 |
| **1/31/22** | $12153 | $11616 | $12587 |
| **2/28/22** | $11860 | $11487 | $12350 |
| **3/31/22** | $11486 | $11168 | $12039 |
| **4/30/22** | $10925 | $10744 | $11408 |
| **5/31/22** | $10925 | $10813 | $11510 |
| **6/30/22** | $10546 | $10643 | $11209 |
| **7/31/22** | $10889 | $10903 | $11549 |
| **8/31/22** | $10604 | $10595 | $11223 |
| **9/30/22** | $10119 | $10138 | $10654 |
| **10/31/22** | $9976 | $10006 | $10544 |
| **11/30/22** | $10450 | $10374 | $11068 |
| **12/31/22** | $10412 | $10327 | $11020 |
| **1/31/23** | $10852 | $10645 | $11441 |
| **2/28/23** | $10575 | $10370 | $11096 |
| **3/31/23** | $10778 | $10633 | $11401 |
| **4/30/23** | $10849 | $10698 | $11490 |
| **5/31/23** | $10705 | $10581 | $11330 |
| **6/30/23** | $10720 | $10544 | $11365 |
| **7/31/23** | $10756 | $10536 | $11400 |
| **8/31/23** | $10673 | $10469 | $11318 |
| **9/30/23** | $10371 | $10203 | $11024 |
| **10/31/23** | $10152 | $10042 | $10828 |
| **11/30/23** | $10720 | $10497 | $11442 |
| **12/31/23** | $11153 | $10898 | $11922 |
| **1/31/24** | $11167 | $10868 | $11901 |
| **2/29/24** | $11021 | $10715 | $11729 |
| **3/31/24** | $11135 | $10814 | $11873 |
| **4/30/24** | $10854 | $10541 | $11578 |
| **5/31/24** | $11060 | $10719 | $11789 |
| **6/30/24** | $11138 | $10821 | $11867 |
| **7/31/24** | $11406 | $11074 | $12146 |
| **8/31/24** | $11564 | $11233 | $12335 |
| **9/30/24** | $11745 | $11383 | $12545 |
| **10/31/24** | $11445 | $11101 | $12242 |
| **11/30/24** | $11593 | $11218 | $12398 |
| **12/31/24** | $11387 | $11035 | $12164 |
| **1/31/25** | $11459 | $11093 | $12232 |
| **2/28/25** | $11735 | $11337 | $12481 |
| **3/31/25** | $11678 | $11342 | $12451 |
| **4/30/25** | $11688 | $11386 | $12459 |
| **5/31/25** | $11634 | $11305 | $12450 |
| **6/30/25** | $11850 | $11478 | $12678 |
| **7/31/25** | $11822 | $11448 | $12684 |
| **8/31/25** | $11963 | $11585 | $12818 |
| **9/30/25** | $12116 | $11711 | $13003 |
| **10/31/25** | $12195 | $11785 | $13061 |
| **11/30/25** | $12267 | $11858 | $13142 |
| **12/31/25** | $12213 | $11840 | $13117 |
| **1/31/26** | $12252 | $11853 | $13138 |
| **2/28/26** | $12420 | $12047 | $13315 |
| **3/31/26** | $12085 | $11835 | $13054 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 3.48% | (0.20%) | 1.91% |
| Class C (including sales charge) | 2.49% | (0.20%) | 1.91% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PBDCX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4251TSRAR_033126

# Institutional Class: PIGIX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $58 | 0.57% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g52j70.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1013169 | $1003838 | $1012211 |
| **5/31/16** | $1017461 | $1004096 | $1011772 |
| **6/30/16** | $1039604 | $1022137 | $1034835 |
| **7/31/16** | $1057818 | $1028599 | $1048393 |
| **8/31/16** | $1061075 | $1027423 | $1050458 |
| **9/30/16** | $1063557 | $1026821 | $1047568 |
| **10/31/16** | $1056663 | $1018967 | $1038625 |
| **11/30/16** | $1025761 | $994865 | $1010303 |
| **12/31/16** | $1035439 | $996268 | $1016452 |
| **1/31/17** | $1042417 | $998223 | $1019872 |
| **2/28/17** | $1055745 | $1004932 | $1031195 |
| **3/31/17** | $1060284 | $1004405 | $1029636 |
| **4/30/17** | $1072635 | $1012156 | $1039931 |
| **5/31/17** | $1084361 | $1019947 | $1051113 |
| **6/30/17** | $1089022 | $1018920 | $1053860 |
| **7/31/17** | $1097278 | $1023305 | $1061573 |
| **8/31/17** | $1108862 | $1032484 | $1070455 |
| **9/30/17** | $1108117 | $1027566 | $1068070 |
| **10/31/17** | $1111434 | $1028161 | $1071686 |
| **11/30/17** | $1110790 | $1026841 | $1070718 |
| **12/31/17** | $1117731 | $1031554 | $1079248 |
| **1/31/18** | $1109376 | $1019674 | $1069229 |
| **2/28/18** | $1095682 | $1010008 | $1053033 |
| **3/31/18** | $1101429 | $1016485 | $1056276 |
| **4/30/18** | $1091891 | $1008925 | $1046646 |
| **5/31/18** | $1090052 | $1016126 | $1051928 |
| **6/30/18** | $1087346 | $1014876 | $1047014 |
| **7/31/18** | $1096216 | $1015117 | $1054524 |
| **8/31/18** | $1100197 | $1021649 | $1059902 |
| **9/30/18** | $1097056 | $1015070 | $1056330 |
| **10/31/18** | $1084364 | $1007049 | $1041539 |
| **11/30/18** | $1082884 | $1013060 | $1040833 |
| **12/31/18** | $1095180 | $1031671 | $1056480 |
| **1/31/19** | $1122077 | $1042627 | $1079313 |
| **2/28/19** | $1129208 | $1042023 | $1081635 |
| **3/31/19** | $1155541 | $1062032 | $1107978 |
| **4/30/19** | $1162896 | $1062304 | $1113417 |
| **5/31/19** | $1178307 | $1081161 | $1129773 |
| **6/30/19** | $1203502 | $1094739 | $1155299 |
| **7/31/19** | $1209773 | $1097147 | $1161259 |
| **8/31/19** | $1244618 | $1125576 | $1197567 |
| **9/30/19** | $1239266 | $1119581 | $1189739 |
| **10/31/19** | $1250149 | $1122953 | $1196516 |
| **11/30/19** | $1252091 | $1122381 | $1198785 |
| **12/31/19** | $1256298 | $1121599 | $1202234 |
| **1/31/20** | $1288185 | $1143184 | $1230358 |
| **2/29/20** | $1296765 | $1163759 | $1247091 |
| **3/31/20** | $1180564 | $1156911 | $1164437 |
| **4/30/20** | $1234304 | $1177476 | $1217725 |
| **5/31/20** | $1257597 | $1182959 | $1237521 |
| **6/30/20** | $1281984 | $1190410 | $1260131 |
| **7/31/20** | $1319818 | $1208191 | $1298992 |
| **8/31/20** | $1312640 | $1198439 | $1282537 |
| **9/30/20** | $1307947 | $1197782 | $1279017 |
| **10/31/20** | $1301187 | $1192434 | $1276187 |
| **11/30/20** | $1340109 | $1204134 | $1308677 |
| **12/31/20** | $1350622 | $1205794 | $1314653 |
| **1/31/21** | $1336059 | $1197148 | $1299009 |
| **2/28/21** | $1313190 | $1179861 | $1276469 |
| **3/31/21** | $1292801 | $1165128 | $1256138 |
| **4/30/21** | $1310132 | $1174333 | $1269483 |
| **5/31/21** | $1317186 | $1178169 | $1278642 |
| **6/30/21** | $1336744 | $1186447 | $1297871 |
| **7/31/21** | $1354229 | $1199713 | $1314736 |
| **8/31/21** | $1355453 | $1197429 | $1311576 |
| **9/30/21** | $1337248 | $1187061 | $1297544 |
| **10/31/21** | $1331667 | $1186734 | $1300375 |
| **11/30/21** | $1333048 | $1190245 | $1301469 |
| **12/31/21** | $1336772 | $1187200 | $1300447 |
| **1/31/22** | $1299348 | $1161622 | $1258735 |
| **2/28/22** | $1269176 | $1148663 | $1234977 |
| **3/31/22** | $1230338 | $1116751 | $1203942 |
| **4/30/22** | $1171427 | $1074373 | $1140846 |
| **5/31/22** | $1172519 | $1081300 | $1150953 |
| **6/30/22** | $1132914 | $1064336 | $1120900 |
| **7/31/22** | $1170873 | $1090343 | $1154937 |
| **8/31/22** | $1141404 | $1059533 | $1122286 |
| **9/30/22** | $1090293 | $1013755 | $1065432 |
| **10/31/22** | $1075868 | $1000624 | $1054435 |
| **11/30/22** | $1128069 | $1037423 | $1106816 |
| **12/31/22** | $1125127 | $1032743 | $1102042 |
| **1/31/23** | $1173738 | $1064515 | $1144073 |
| **2/28/23** | $1144759 | $1036991 | $1109648 |
| **3/31/23** | $1167980 | $1063333 | $1140065 |
| **4/30/23** | $1176729 | $1069778 | $1149026 |
| **5/31/23** | $1162178 | $1058130 | $1133026 |
| **6/30/23** | $1164987 | $1054356 | $1136531 |
| **7/31/23** | $1170022 | $1053621 | $1140009 |
| **8/31/23** | $1162104 | $1046891 | $1131795 |
| **9/30/23** | $1130299 | $1020288 | $1102351 |
| **10/31/23** | $1107510 | $1004186 | $1082758 |
| **11/30/23** | $1170496 | $1049662 | $1144208 |
| **12/31/23** | $1219042 | $1089842 | $1192205 |
| **1/31/24** | $1221678 | $1086849 | $1190075 |
| **2/29/24** | $1206856 | $1071494 | $1172910 |
| **3/31/24** | $1220503 | $1081388 | $1187327 |
| **4/30/24** | $1190815 | $1054074 | $1157787 |
| **5/31/24** | $1214713 | $1071944 | $1178897 |
| **6/30/24** | $1224301 | $1082092 | $1186738 |
| **7/31/24** | $1254999 | $1107367 | $1214600 |
| **8/31/24** | $1273759 | $1123279 | $1233477 |
| **9/30/24** | $1294740 | $1138319 | $1254532 |
| **10/31/24** | $1262968 | $1110090 | $1224242 |
| **11/30/24** | $1280593 | $1121827 | $1239823 |
| **12/31/24** | $1258964 | $1103468 | $1216399 |
| **1/31/25** | $1268199 | $1109322 | $1223235 |
| **2/28/25** | $1299927 | $1133729 | $1248127 |
| **3/31/25** | $1294823 | $1134155 | $1245139 |
| **4/30/25** | $1297141 | $1138613 | $1245914 |
| **5/31/25** | $1292402 | $1130460 | $1244998 |
| **6/30/25** | $1317592 | $1147843 | $1267779 |
| **7/31/25** | $1315734 | $1144815 | $1268446 |
| **8/31/25** | $1332802 | $1158507 | $1281830 |
| **9/30/25** | $1351039 | $1171145 | $1300315 |
| **10/31/25** | $1361249 | $1178462 | $1306064 |
| **11/30/25** | $1370570 | $1185785 | $1314176 |
| **12/31/25** | $1365940 | $1184031 | $1311692 |
| **1/31/26** | $1371543 | $1185295 | $1313758 |
| **2/28/26** | $1391662 | $1204706 | $1331512 |
| **3/31/26** | $1355399 | $1183475 | $1305426 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 4.68% | 0.95% | 3.09% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PIGIX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0056TSRAR_033126

# I-2: PBDPX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $69 | 0.67% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g98t67.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1013084 | $1003838 | $1012211 |
| **5/31/16** | $1017291 | $1004096 | $1011772 |
| **6/30/16** | $1039346 | $1022137 | $1034835 |
| **7/31/16** | $1057466 | $1028599 | $1048393 |
| **8/31/16** | $1060631 | $1027423 | $1050458 |
| **9/30/16** | $1063019 | $1026821 | $1047568 |
| **10/31/16** | $1056044 | $1018967 | $1038625 |
| **11/30/16** | $1025078 | $994865 | $1010303 |
| **12/31/16** | $1034654 | $996268 | $1016452 |
| **1/31/17** | $1041544 | $998223 | $1019872 |
| **2/28/17** | $1054781 | $1004932 | $1031195 |
| **3/31/17** | $1059221 | $1004405 | $1029636 |
| **4/30/17** | $1071479 | $1012156 | $1039931 |
| **5/31/17** | $1083102 | $1019947 | $1051113 |
| **6/30/17** | $1087664 | $1018920 | $1053860 |
| **7/31/17** | $1095825 | $1023305 | $1061573 |
| **8/31/17** | $1107301 | $1032484 | $1070455 |
| **9/30/17** | $1106464 | $1027566 | $1068070 |
| **10/31/17** | $1109685 | $1028161 | $1071686 |
| **11/30/17** | $1108951 | $1026841 | $1070718 |
| **12/31/17** | $1115783 | $1031554 | $1079248 |
| **1/31/18** | $1107352 | $1019674 | $1069229 |
| **2/28/18** | $1093599 | $1010008 | $1053033 |
| **3/31/18** | $1099240 | $1016485 | $1056276 |
| **4/30/18** | $1089633 | $1008925 | $1046646 |
| **5/31/18** | $1087706 | $1016126 | $1051928 |
| **6/30/18** | $1084915 | $1014876 | $1047014 |
| **7/31/18** | $1093676 | $1015117 | $1054524 |
| **8/31/18** | $1097545 | $1021649 | $1059902 |
| **9/30/18** | $1094331 | $1015070 | $1056330 |
| **10/31/18** | $1081581 | $1007049 | $1041539 |
| **11/30/18** | $1080006 | $1013060 | $1040833 |
| **12/31/18** | $1092180 | $1031671 | $1056480 |
| **1/31/19** | $1118913 | $1042627 | $1079313 |
| **2/28/19** | $1125938 | $1042023 | $1081635 |
| **3/31/19** | $1152099 | $1062032 | $1107978 |
| **4/30/19** | $1159340 | $1062304 | $1113417 |
| **5/31/19** | $1174729 | $1081161 | $1129773 |
| **6/30/19** | $1199761 | $1094739 | $1155299 |
| **7/31/19** | $1205911 | $1097147 | $1161259 |
| **8/31/19** | $1240535 | $1125576 | $1197567 |
| **9/30/19** | $1235106 | $1119581 | $1189739 |
| **10/31/19** | $1245848 | $1122953 | $1196516 |
| **11/30/19** | $1247678 | $1122381 | $1198785 |
| **12/31/19** | $1251765 | $1121599 | $1202234 |
| **1/31/20** | $1283426 | $1143184 | $1230358 |
| **2/29/20** | $1291876 | $1163759 | $1247091 |
| **3/31/20** | $1176012 | $1156911 | $1164437 |
| **4/30/20** | $1229447 | $1177476 | $1217725 |
| **5/31/20** | $1252544 | $1182959 | $1237521 |
| **6/30/20** | $1276729 | $1190410 | $1260131 |
| **7/31/20** | $1314291 | $1208191 | $1298992 |
| **8/31/20** | $1307040 | $1198439 | $1282537 |
| **9/30/20** | $1302259 | $1197782 | $1279017 |
| **10/31/20** | $1295414 | $1192434 | $1276187 |
| **11/30/20** | $1334060 | $1204134 | $1308677 |
| **12/31/20** | $1344399 | $1205794 | $1314653 |
| **1/31/21** | $1329804 | $1197148 | $1299009 |
| **2/28/21** | $1306941 | $1179861 | $1276469 |
| **3/31/21** | $1286539 | $1165128 | $1256138 |
| **4/30/21** | $1303673 | $1174333 | $1269483 |
| **5/31/21** | $1310587 | $1178169 | $1278642 |
| **6/30/21** | $1329939 | $1186447 | $1297871 |
| **7/31/21** | $1347218 | $1199713 | $1314736 |
| **8/31/21** | $1348326 | $1197429 | $1311576 |
| **9/30/21** | $1330105 | $1187061 | $1297544 |
| **10/31/21** | $1324442 | $1186734 | $1300375 |
| **11/30/21** | $1325708 | $1190245 | $1301469 |
| **12/31/21** | $1329291 | $1187200 | $1300447 |
| **1/31/22** | $1291974 | $1161622 | $1258735 |
| **2/28/22** | $1261876 | $1148663 | $1234977 |
| **3/31/22** | $1223157 | $1116751 | $1203942 |
| **4/30/22** | $1164489 | $1074373 | $1140846 |
| **5/31/22** | $1165481 | $1081300 | $1150953 |
| **6/30/22** | $1126020 | $1064336 | $1120900 |
| **7/31/22** | $1163652 | $1090343 | $1154937 |
| **8/31/22** | $1134266 | $1059533 | $1122286 |
| **9/30/22** | $1083379 | $1013755 | $1065432 |
| **10/31/22** | $1068960 | $1000624 | $1054435 |
| **11/30/22** | $1120733 | $1037423 | $1106816 |
| **12/31/22** | $1117708 | $1032743 | $1102042 |
| **1/31/23** | $1165908 | $1064515 | $1144073 |
| **2/28/23** | $1137036 | $1036991 | $1109648 |
| **3/31/23** | $1159998 | $1063333 | $1140065 |
| **4/30/23** | $1168598 | $1069778 | $1149026 |
| **5/31/23** | $1154051 | $1058130 | $1133026 |
| **6/30/23** | $1156738 | $1054356 | $1136531 |
| **7/31/23** | $1161647 | $1053621 | $1140009 |
| **8/31/23** | $1153689 | $1046891 | $1131795 |
| **9/30/23** | $1122019 | $1020288 | $1102351 |
| **10/31/23** | $1099306 | $1004186 | $1082758 |
| **11/30/23** | $1161731 | $1049662 | $1144208 |
| **12/31/23** | $1209810 | $1089842 | $1192205 |
| **1/31/24** | $1212328 | $1086849 | $1190075 |
| **2/29/24** | $1197524 | $1071494 | $1172910 |
| **3/31/24** | $1210964 | $1081388 | $1187327 |
| **4/30/24** | $1181410 | $1054074 | $1157787 |
| **5/31/24** | $1205011 | $1071944 | $1178897 |
| **6/30/24** | $1214429 | $1082092 | $1186738 |
| **7/31/24** | $1244775 | $1107367 | $1214600 |
| **8/31/24** | $1263269 | $1123279 | $1233477 |
| **9/30/24** | $1283978 | $1138319 | $1254532 |
| **10/31/24** | $1252364 | $1110090 | $1224242 |
| **11/30/24** | $1269733 | $1121827 | $1239823 |
| **12/31/24** | $1248178 | $1103468 | $1216399 |
| **1/31/25** | $1257225 | $1109322 | $1223235 |
| **2/28/25** | $1288582 | $1133729 | $1248127 |
| **3/31/25** | $1283421 | $1134155 | $1245139 |
| **4/30/25** | $1285614 | $1138613 | $1245914 |
| **5/31/25** | $1280806 | $1130460 | $1244998 |
| **6/30/25** | $1305668 | $1147843 | $1267779 |
| **7/31/25** | $1303716 | $1144815 | $1268446 |
| **8/31/25** | $1320513 | $1158507 | $1281830 |
| **9/30/25** | $1338476 | $1171145 | $1300315 |
| **10/31/25** | $1348470 | $1178462 | $1306064 |
| **11/30/25** | $1357599 | $1185785 | $1314176 |
| **12/31/25** | $1352896 | $1184031 | $1311692 |
| **1/31/26** | $1358330 | $1185295 | $1313758 |
| **2/28/26** | $1378150 | $1204706 | $1331512 |
| **3/31/26** | $1342129 | $1183475 | $1305426 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 4.57% | 0.85% | 2.99% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PBDPX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1909TSRAR_033126

# I-3: PCNNX

# PIMCO Investment Grade Credit Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Investment Grade Credit Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $74 | 0.72% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Tactical exposure to securitized credit, specifically exposure to agency residential mortgage-backed securities, contributed to performance versus the Bloomberg U.S. Credit Index ("Index"), as it outperformed the Index.

* Security selection within the technology sector, specifically exposure to debt tied to a data center buildout, contributed to performance versus the Index, as spreads tightened.

* Security selection within the media sector, specifically underweight exposure to a global media company, contributed to performance versus the Index, as spreads widened.

* Duration positioning detracted from performance versus the Index, amid elevated rate volatility.

* Tactical exposure to emerging markets, specifically overweight exposure to a Latin American chemicals company, detracted from performance versus the Index, as prices fell.

* Underweight exposure to the healthcare sector detracted from performance versus the Index, as the sector outperformed the broader Index.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of I-3 shares (4/27/2018), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by I-3 shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g11g40.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-3** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1013046 | $1003838 | $1012211 |
| **5/31/16** | $1017208 | $1004096 | $1011772 |
| **6/30/16** | $1039219 | $1022137 | $1034835 |
| **7/31/16** | $1057293 | $1028599 | $1048393 |
| **8/31/16** | $1060415 | $1027423 | $1050458 |
| **9/30/16** | $1062765 | $1026821 | $1047568 |
| **10/31/16** | $1055742 | $1018967 | $1038625 |
| **11/30/16** | $1024741 | $994865 | $1010303 |
| **12/31/16** | $1034278 | $996268 | $1016452 |
| **1/31/17** | $1041116 | $998223 | $1019872 |
| **2/28/17** | $1054307 | $1004932 | $1031195 |
| **3/31/17** | $1058706 | $1004405 | $1029636 |
| **4/30/17** | $1070907 | $1012156 | $1039931 |
| **5/31/17** | $1082478 | $1019947 | $1051113 |
| **6/30/17** | $1086997 | $1018920 | $1053860 |
| **7/31/17** | $1095099 | $1023305 | $1061573 |
| **8/31/17** | $1106520 | $1032484 | $1070455 |
| **9/30/17** | $1105641 | $1027566 | $1068070 |
| **10/31/17** | $1108809 | $1028161 | $1071686 |
| **11/30/17** | $1108030 | $1026841 | $1070718 |
| **12/31/17** | $1114812 | $1031554 | $1079248 |
| **1/31/18** | $1106338 | $1019674 | $1069229 |
| **2/28/18** | $1092556 | $1010008 | $1053033 |
| **3/31/18** | $1098148 | $1016485 | $1056276 |
| **4/30/18** | $1088511 | $1008925 | $1046646 |
| **5/31/18** | $1086528 | $1016126 | $1051928 |
| **6/30/18** | $1083701 | $1014876 | $1047014 |
| **7/31/18** | $1092452 | $1015117 | $1054524 |
| **8/31/18** | $1096266 | $1021649 | $1059902 |
| **9/30/18** | $1093019 | $1015070 | $1056330 |
| **10/31/18** | $1080222 | $1007049 | $1041539 |
| **11/30/18** | $1078606 | $1013060 | $1040833 |
| **12/31/18** | $1090720 | $1031671 | $1056480 |
| **1/31/19** | $1117374 | $1042627 | $1079313 |
| **2/28/19** | $1124348 | $1042023 | $1081635 |
| **3/31/19** | $1150424 | $1062032 | $1107978 |
| **4/30/19** | $1157607 | $1062304 | $1113417 |
| **5/31/19** | $1172922 | $1081161 | $1129773 |
| **6/30/19** | $1197866 | $1094739 | $1155299 |
| **7/31/19** | $1203957 | $1097147 | $1161259 |
| **8/31/19** | $1238470 | $1125576 | $1197567 |
| **9/30/19** | $1233003 | $1119581 | $1189739 |
| **10/31/19** | $1243673 | $1122953 | $1196516 |
| **11/30/19** | $1245448 | $1122381 | $1198785 |
| **12/31/19** | $1249476 | $1121599 | $1202234 |
| **1/31/20** | $1281024 | $1143184 | $1230358 |
| **2/29/20** | $1289410 | $1163759 | $1247091 |
| **3/31/20** | $1173721 | $1156911 | $1164437 |
| **4/30/20** | $1226999 | $1177476 | $1217725 |
| **5/31/20** | $1249998 | $1182959 | $1237521 |
| **6/30/20** | $1274082 | $1190410 | $1260131 |
| **7/31/20** | $1311507 | $1208191 | $1298992 |
| **8/31/20** | $1304219 | $1198439 | $1282537 |
| **9/30/20** | $1299393 | $1197782 | $1279017 |
| **10/31/20** | $1292506 | $1192434 | $1276187 |
| **11/30/20** | $1331012 | $1204134 | $1308677 |
| **12/31/20** | $1341267 | $1205794 | $1314653 |
| **1/31/21** | $1326652 | $1197148 | $1299009 |
| **2/28/21** | $1303794 | $1179861 | $1276469 |
| **3/31/21** | $1283387 | $1165128 | $1256138 |
| **4/30/21** | $1300422 | $1174333 | $1269483 |
| **5/31/21** | $1307266 | $1178169 | $1278642 |
| **6/30/21** | $1326514 | $1186447 | $1297871 |
| **7/31/21** | $1343689 | $1199713 | $1314736 |
| **8/31/21** | $1344740 | $1197429 | $1311576 |
| **9/30/21** | $1326513 | $1187061 | $1297544 |
| **10/31/21** | $1320809 | $1186734 | $1300375 |
| **11/30/21** | $1322019 | $1190245 | $1301469 |
| **12/31/21** | $1325532 | $1187200 | $1300447 |
| **1/31/22** | $1288267 | $1161622 | $1258735 |
| **2/28/22** | $1258207 | $1148663 | $1234977 |
| **3/31/22** | $1219549 | $1116751 | $1203942 |
| **4/30/22** | $1161003 | $1074373 | $1140846 |
| **5/31/22** | $1161944 | $1081300 | $1150953 |
| **6/30/22** | $1122556 | $1064336 | $1120900 |
| **7/31/22** | $1160025 | $1090343 | $1154937 |
| **8/31/22** | $1130682 | $1059533 | $1122286 |
| **9/30/22** | $1079906 | $1013755 | $1065432 |
| **10/31/22** | $1065492 | $1000624 | $1054435 |
| **11/30/22** | $1117053 | $1037423 | $1106816 |
| **12/31/22** | $1113988 | $1032743 | $1102042 |
| **1/31/23** | $1161980 | $1064515 | $1144073 |
| **2/28/23** | $1133173 | $1036991 | $1109648 |
| **3/31/23** | $1156007 | $1063333 | $1140065 |
| **4/30/23** | $1164532 | $1069778 | $1149026 |
| **5/31/23** | $1149986 | $1058130 | $1133026 |
| **6/30/23** | $1152615 | $1054356 | $1136531 |
| **7/31/23** | $1157452 | $1053621 | $1140009 |
| **8/31/23** | $1149475 | $1046891 | $1131795 |
| **9/30/23** | $1117872 | $1020288 | $1102351 |
| **10/31/23** | $1095200 | $1004186 | $1082758 |
| **11/30/23** | $1157346 | $1049662 | $1144208 |
| **12/31/23** | $1205192 | $1089842 | $1192205 |
| **1/31/24** | $1207652 | $1086849 | $1190075 |
| **2/29/24** | $1192857 | $1071494 | $1172910 |
| **3/31/24** | $1206194 | $1081388 | $1187327 |
| **4/30/24** | $1176709 | $1054074 | $1157787 |
| **5/31/24** | $1200162 | $1071944 | $1178897 |
| **6/30/24** | $1209495 | $1082092 | $1186738 |
| **7/31/24** | $1239666 | $1107367 | $1214600 |
| **8/31/24** | $1258027 | $1123279 | $1233477 |
| **9/30/24** | $1278601 | $1138319 | $1254532 |
| **10/31/24** | $1247066 | $1110090 | $1224242 |
| **11/30/24** | $1264308 | $1121827 | $1239823 |
| **12/31/24** | $1242792 | $1103468 | $1216399 |
| **1/31/25** | $1251749 | $1109322 | $1223235 |
| **2/28/25** | $1282920 | $1133729 | $1248127 |
| **3/31/25** | $1277731 | $1134155 | $1245139 |
| **4/30/25** | $1279864 | $1138613 | $1245914 |
| **5/31/25** | $1275022 | $1130460 | $1244998 |
| **6/30/25** | $1299721 | $1147843 | $1267779 |
| **7/31/25** | $1297722 | $1144815 | $1268446 |
| **8/31/25** | $1314384 | $1158507 | $1281830 |
| **9/30/25** | $1332210 | $1171145 | $1300315 |
| **10/31/25** | $1342098 | $1178462 | $1306064 |
| **11/30/25** | $1351134 | $1185785 | $1314176 |
| **12/31/25** | $1346394 | $1184031 | $1311692 |
| **1/31/26** | $1351746 | $1185295 | $1313758 |
| **2/28/26** | $1371418 | $1204706 | $1331512 |
| **3/31/26** | $1335518 | $1183475 | $1305426 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-3 | 4.52% | 0.80% | 2.94% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Credit Index | 4.84% | 0.77% | 2.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13118877 |
| # of Portfolio Holdings | 2534 |
| Portfolio Turnover Rate | 209% |
| Total Net Advisory Fees Paid During the Reporting Period | $31925 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 68.5% |
| U.S. Treasury Obligations | 16.0% |
| U.S. Government Agencies | 14.2% |
| Sovereign Issues | 6.1% |
| Asset-Backed Securities | 3.5% |
| Preferred Securities | 3.3% |
| Non-Agency Mortgage-Backed Securities | 2.8% |
| Loan Participations and Assignments | 1.0% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.6% |
| Other Assets and Liabilities, Net | (16.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PCNNX
![Image](g112232g01x08.jpg)

# PIMCO Investment Grade Credit Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2187TSRAR_033126

# Class A: PLRAX

# PIMCO Long Duration Total Return Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long Duration Total Return Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $259 | 2.56% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg Long-Term Government/Credit Index ("Index"), as the strategy outperformed like-duration Treasuries.

* Interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Positioning within technology contributed to relative performance versus the Index, as select issuers outperformed.

* Overweight exposure to emerging markets contributed to relative performance versus the Index, as spreads narrowed.

* Positioning within investment grade credit detracted from relative performance versus the Index, as tactical spread beta positioning underperformed.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of Class A shares (9/8/2017), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by Class A shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g68y23.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Government/Credit Index** |
| **3/31/16** | $9625 | $10000 | $10000 |
| **4/30/16** | $9749 | $10038 | $10123 |
| **5/31/16** | $9779 | $10041 | $10155 |
| **6/30/16** | $10272 | $10221 | $10655 |
| **7/31/16** | $10569 | $10286 | $10927 |
| **8/31/16** | $10575 | $10274 | $10924 |
| **9/30/16** | $10485 | $10268 | $10787 |
| **10/31/16** | $10219 | $10190 | $10481 |
| **11/30/16** | $9567 | $9949 | $9869 |
| **12/31/16** | $9639 | $9963 | $9941 |
| **1/31/17** | $9749 | $9982 | $9972 |
| **2/28/17** | $9956 | $10049 | $10155 |
| **3/31/17** | $9924 | $10044 | $10098 |
| **4/30/17** | $10083 | $10122 | $10255 |
| **5/31/17** | $10281 | $10199 | $10462 |
| **6/30/17** | $10379 | $10189 | $10541 |
| **7/31/17** | $10424 | $10233 | $10569 |
| **8/31/17** | $10643 | $10325 | $10806 |
| **9/30/17** | $10558 | $10276 | $10702 |
| **10/31/17** | $10597 | $10282 | $10745 |
| **11/30/17** | $10658 | $10268 | $10802 |
| **12/31/17** | $10824 | $10316 | $11006 |
| **1/31/18** | $10627 | $10197 | $10780 |
| **2/28/18** | $10315 | $10100 | $10439 |
| **3/31/18** | $10475 | $10165 | $10612 |
| **4/30/18** | $10276 | $10089 | $10406 |
| **5/31/18** | $10357 | $10161 | $10524 |
| **6/30/18** | $10349 | $10149 | $10459 |
| **7/31/18** | $10378 | $10151 | $10485 |
| **8/31/18** | $10463 | $10216 | $10574 |
| **9/30/18** | $10307 | $10151 | $10410 |
| **10/31/18** | $9992 | $10070 | $10061 |
| **11/30/18** | $10034 | $10131 | $10117 |
| **12/31/18** | $10367 | $10317 | $10491 |
| **1/31/19** | $10568 | $10426 | $10726 |
| **2/28/19** | $10535 | $10420 | $10666 |
| **3/31/19** | $11031 | $10620 | $11168 |
| **4/30/19** | $10968 | $10623 | $11123 |
| **5/31/19** | $11428 | $10812 | $11582 |
| **6/30/19** | $11676 | $10947 | $11904 |
| **7/31/19** | $11789 | $10971 | $11990 |
| **8/31/19** | $12660 | $11256 | $12934 |
| **9/30/19** | $12424 | $11196 | $12687 |
| **10/31/19** | $12379 | $11230 | $12680 |
| **11/30/19** | $12409 | $11224 | $12690 |
| **12/31/19** | $12241 | $11216 | $12546 |
| **1/31/20** | $12935 | $11432 | $13201 |
| **2/29/20** | $13434 | $11638 | $13731 |
| **3/31/20** | $12863 | $11569 | $13325 |
| **4/30/20** | $13469 | $11775 | $13926 |
| **5/31/20** | $13518 | $11830 | $13938 |
| **6/30/20** | $13829 | $11904 | $14155 |
| **7/31/20** | $14540 | $12082 | $14906 |
| **8/31/20** | $14028 | $11984 | $14347 |
| **9/30/20** | $14069 | $11978 | $14327 |
| **10/31/20** | $13807 | $11924 | $14101 |
| **11/30/20** | $14315 | $12041 | $14597 |
| **12/31/20** | $14359 | $12058 | $14568 |
| **1/31/21** | $14057 | $11971 | $14135 |
| **2/28/21** | $13482 | $11799 | $13542 |
| **3/31/21** | $12933 | $11651 | $13051 |
| **4/30/21** | $13231 | $11743 | $13307 |
| **5/31/21** | $13275 | $11782 | $13415 |
| **6/30/21** | $13781 | $11864 | $13892 |
| **7/31/21** | $14186 | $11997 | $14278 |
| **8/31/21** | $14154 | $11974 | $14235 |
| **9/30/21** | $13844 | $11871 | $13902 |
| **10/31/21** | $14013 | $11867 | $14129 |
| **11/30/21** | $14220 | $11902 | $14318 |
| **12/31/21** | $14083 | $11872 | $14201 |
| **1/31/22** | $13510 | $11616 | $13505 |
| **2/28/22** | $13158 | $11487 | $13162 |
| **3/31/22** | $12629 | $11168 | $12646 |
| **4/30/22** | $11503 | $10744 | $11470 |
| **5/31/22** | $11342 | $10813 | $11434 |
| **6/30/22** | $10954 | $10643 | $11094 |
| **7/31/22** | $11336 | $10903 | $11510 |
| **8/31/22** | $10901 | $10595 | $11005 |
| **9/30/22** | $10020 | $10138 | $10091 |
| **10/31/22** | $9599 | $10006 | $9710 |
| **11/30/22** | $10320 | $10374 | $10500 |
| **12/31/22** | $10157 | $10327 | $10355 |
| **1/31/23** | $10867 | $10645 | $11037 |
| **2/28/23** | $10393 | $10370 | $10489 |
| **3/31/23** | $10781 | $10633 | $10951 |
| **4/30/23** | $10835 | $10698 | $11028 |
| **5/31/23** | $10575 | $10581 | $10727 |
| **6/30/23** | $10649 | $10544 | $10809 |
| **7/31/23** | $10517 | $10536 | $10692 |
| **8/31/23** | $10284 | $10469 | $10445 |
| **9/30/23** | $9660 | $10203 | $9796 |
| **10/31/23** | $9222 | $10042 | $9355 |
| **11/30/23** | $10082 | $10497 | $10280 |
| **12/31/23** | $10884 | $10898 | $11092 |
| **1/31/24** | $10759 | $10868 | $10923 |
| **2/29/24** | $10547 | $10715 | $10656 |
| **3/31/24** | $10722 | $10814 | $10825 |
| **4/30/24** | $10173 | $10541 | $10234 |
| **5/31/24** | $10471 | $10719 | $10523 |
| **6/30/24** | $10571 | $10821 | $10638 |
| **7/31/24** | $10956 | $11074 | $10995 |
| **8/31/24** | $11165 | $11233 | $11224 |
| **9/30/24** | $11432 | $11383 | $11485 |
| **10/31/24** | $10893 | $11101 | $10946 |
| **11/30/24** | $11141 | $11218 | $11167 |
| **12/31/24** | $10603 | $11035 | $10632 |
| **1/31/25** | $10701 | $11093 | $10677 |
| **2/28/25** | $11210 | $11337 | $11138 |
| **3/31/25** | $11113 | $11342 | $11011 |
| **4/30/25** | $10923 | $11386 | $10884 |
| **5/31/25** | $10733 | $11305 | $10696 |
| **6/30/25** | $11048 | $11478 | $10991 |
| **7/31/25** | $11008 | $11448 | $10938 |
| **8/31/25** | $11095 | $11585 | $10996 |
| **9/30/25** | $11445 | $11711 | $11338 |
| **10/31/25** | $11597 | $11785 | $11443 |
| **11/30/25** | $11649 | $11858 | $11495 |
| **12/31/25** | $11486 | $11840 | $11336 |
| **1/31/26** | $11507 | $11853 | $11310 |
| **2/28/26** | $11910 | $12047 | $11674 |
| **3/31/26** | $11378 | $11835 | $11250 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 2.39% | (2.53%) | 1.69% |
| Class A (including sales charge) | (1.42%) | (3.28%) | 1.30% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Government/Credit Index | 2.17% | (2.93%) | 1.18% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2225282 |
| # of Portfolio Holdings | 1540 |
| Portfolio Turnover Rate | 206% |
| Total Net Advisory Fees Paid During the Reporting Period | $5677 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 74.8% |
| Corporate Bonds & Notes | 48.8% |
| U.S. Government Agencies | 25.8% |
| Asset-Backed Securities | 10.0% |
| Sovereign Issues | 7.0% |
| Non-Agency Mortgage-Backed Securities | 5.0% |
| Municipal Bonds & Notes | 1.4% |
| Loan Participations and Assignments | 0.8% |
| Preferred Securities | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.4% |
| Other Assets and Liabilities, Net | (74.8%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.73% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PLRAX
![Image](g112232g01x08.jpg)

# PIMCO Long Duration Total Return Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8084TSRAR_033126

# Class C: PLRCX

# PIMCO Long Duration Total Return Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long Duration Total Return Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $334 | 3.31% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg Long-Term Government/Credit Index ("Index"), as the strategy outperformed like-duration Treasuries.

* Interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Positioning within technology contributed to relative performance versus the Index, as select issuers outperformed.

* Overweight exposure to emerging markets contributed to relative performance versus the Index, as spreads narrowed.

* Positioning within investment grade credit detracted from relative performance versus the Index, as tactical spread beta positioning underperformed.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of Class C shares (1/15/2018), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by Class C shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g91n59.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Government/Credit Index** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10123 | $10038 | $10123 |
| **5/31/16** | $10147 | $10041 | $10155 |
| **6/30/16** | $10652 | $10221 | $10655 |
| **7/31/16** | $10953 | $10286 | $10927 |
| **8/31/16** | $10953 | $10274 | $10924 |
| **9/30/16** | $10853 | $10268 | $10787 |
| **10/31/16** | $10571 | $10190 | $10481 |
| **11/30/16** | $9891 | $9949 | $9869 |
| **12/31/16** | $9958 | $9963 | $9941 |
| **1/31/17** | $10066 | $9982 | $9972 |
| **2/28/17** | $10274 | $10049 | $10155 |
| **3/31/17** | $10235 | $10044 | $10098 |
| **4/30/17** | $10391 | $10122 | $10255 |
| **5/31/17** | $10590 | $10199 | $10462 |
| **6/30/17** | $10683 | $10189 | $10541 |
| **7/31/17** | $10723 | $10233 | $10569 |
| **8/31/17** | $10941 | $10325 | $10806 |
| **9/30/17** | $10847 | $10276 | $10702 |
| **10/31/17** | $10880 | $10282 | $10745 |
| **11/30/17** | $10936 | $10268 | $10802 |
| **12/31/17** | $11100 | $10316 | $11006 |
| **1/31/18** | $10891 | $10197 | $10780 |
| **2/28/18** | $10563 | $10100 | $10439 |
| **3/31/18** | $10720 | $10165 | $10612 |
| **4/30/18** | $10510 | $10089 | $10406 |
| **5/31/18** | $10587 | $10161 | $10524 |
| **6/30/18** | $10571 | $10149 | $10459 |
| **7/31/18** | $10595 | $10151 | $10485 |
| **8/31/18** | $10673 | $10216 | $10574 |
| **9/30/18** | $10509 | $10151 | $10410 |
| **10/31/18** | $10181 | $10070 | $10061 |
| **11/30/18** | $10217 | $10131 | $10117 |
| **12/31/18** | $10550 | $10317 | $10491 |
| **1/31/19** | $10748 | $10426 | $10726 |
| **2/28/19** | $10708 | $10420 | $10666 |
| **3/31/19** | $11205 | $10620 | $11168 |
| **4/30/19** | $11134 | $10623 | $11123 |
| **5/31/19** | $11595 | $10812 | $11582 |
| **6/30/19** | $11839 | $10947 | $11904 |
| **7/31/19** | $11946 | $10971 | $11990 |
| **8/31/19** | $12820 | $11256 | $12934 |
| **9/30/19** | $12575 | $11196 | $12687 |
| **10/31/19** | $12521 | $11230 | $12680 |
| **11/30/19** | $12543 | $11224 | $12690 |
| **12/31/19** | $12366 | $11216 | $12546 |
| **1/31/20** | $13058 | $11432 | $13201 |
| **2/29/20** | $13555 | $11638 | $13731 |
| **3/31/20** | $12971 | $11569 | $13325 |
| **4/30/20** | $13574 | $11775 | $13926 |
| **5/31/20** | $13614 | $11830 | $13938 |
| **6/30/20** | $13919 | $11904 | $14155 |
| **7/31/20** | $14625 | $12082 | $14906 |
| **8/31/20** | $14102 | $11984 | $14347 |
| **9/30/20** | $14134 | $11978 | $14327 |
| **10/31/20** | $13862 | $11924 | $14101 |
| **11/30/20** | $14363 | $12041 | $14597 |
| **12/31/20** | $14398 | $12058 | $14568 |
| **1/31/21** | $14086 | $11971 | $14135 |
| **2/28/21** | $13502 | $11799 | $13542 |
| **3/31/21** | $12944 | $11651 | $13051 |
| **4/30/21** | $13234 | $11743 | $13307 |
| **5/31/21** | $13269 | $11782 | $13415 |
| **6/30/21** | $13767 | $11864 | $13892 |
| **7/31/21** | $14163 | $11997 | $14278 |
| **8/31/21** | $14122 | $11974 | $14235 |
| **9/30/21** | $13804 | $11871 | $13902 |
| **10/31/21** | $13964 | $11867 | $14129 |
| **11/30/21** | $14161 | $11902 | $14318 |
| **12/31/21** | $14016 | $11872 | $14201 |
| **1/31/22** | $13437 | $11616 | $13505 |
| **2/28/22** | $13080 | $11487 | $13162 |
| **3/31/22** | $12545 | $11168 | $12646 |
| **4/30/22** | $11420 | $10744 | $11470 |
| **5/31/22** | $11252 | $10813 | $11434 |
| **6/30/22** | $10861 | $10643 | $11094 |
| **7/31/22** | $11233 | $10903 | $11510 |
| **8/31/22** | $10795 | $10595 | $11005 |
| **9/30/22** | $9916 | $10138 | $10091 |
| **10/31/22** | $9493 | $10006 | $9710 |
| **11/30/22** | $10200 | $10374 | $10500 |
| **12/31/22** | $10032 | $10327 | $10355 |
| **1/31/23** | $10727 | $10645 | $11037 |
| **2/28/23** | $10253 | $10370 | $10489 |
| **3/31/23** | $10629 | $10633 | $10951 |
| **4/30/23** | $10676 | $10698 | $11028 |
| **5/31/23** | $10413 | $10581 | $10727 |
| **6/30/23** | $10479 | $10544 | $10809 |
| **7/31/23** | $10343 | $10536 | $10692 |
| **8/31/23** | $10108 | $10469 | $10445 |
| **9/30/23** | $9488 | $10203 | $9796 |
| **10/31/23** | $9053 | $10042 | $9355 |
| **11/30/23** | $9891 | $10497 | $10280 |
| **12/31/23** | $10671 | $10898 | $11092 |
| **1/31/24** | $10542 | $10868 | $10923 |
| **2/29/24** | $10328 | $10715 | $10656 |
| **3/31/24** | $10493 | $10814 | $10825 |
| **4/30/24** | $9949 | $10541 | $10234 |
| **5/31/24** | $10234 | $10719 | $10523 |
| **6/30/24** | $10326 | $10821 | $10638 |
| **7/31/24** | $10695 | $11074 | $10995 |
| **8/31/24** | $10891 | $11233 | $11224 |
| **9/30/24** | $11146 | $11383 | $11485 |
| **10/31/24** | $10614 | $11101 | $10946 |
| **11/30/24** | $10848 | $11218 | $11167 |
| **12/31/24** | $10317 | $11035 | $10632 |
| **1/31/25** | $10406 | $11093 | $10677 |
| **2/28/25** | $10895 | $11337 | $11138 |
| **3/31/25** | $10794 | $11342 | $11011 |
| **4/30/25** | $10603 | $11386 | $10884 |
| **5/31/25** | $10412 | $11305 | $10696 |
| **6/30/25** | $10711 | $11478 | $10991 |
| **7/31/25** | $10666 | $11448 | $10938 |
| **8/31/25** | $10743 | $11585 | $10996 |
| **9/30/25** | $11075 | $11711 | $11338 |
| **10/31/25** | $11214 | $11785 | $11443 |
| **11/30/25** | $11259 | $11858 | $11495 |
| **12/31/25** | $11094 | $11840 | $11336 |
| **1/31/26** | $11107 | $11853 | $11310 |
| **2/28/26** | $11489 | $12047 | $11674 |
| **3/31/26** | $10970 | $11835 | $11250 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 1.63% | (3.26%) | 0.93% |
| Class C (including sales charge) | 0.65% | (3.26%) | 0.93% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Government/Credit Index | 2.17% | (2.93%) | 1.18% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2225282 |
| # of Portfolio Holdings | 1540 |
| Portfolio Turnover Rate | 206% |
| Total Net Advisory Fees Paid During the Reporting Period | $5677 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 74.8% |
| Corporate Bonds & Notes | 48.8% |
| U.S. Government Agencies | 25.8% |
| Asset-Backed Securities | 10.0% |
| Sovereign Issues | 7.0% |
| Non-Agency Mortgage-Backed Securities | 5.0% |
| Municipal Bonds & Notes | 1.4% |
| Loan Participations and Assignments | 0.8% |
| Preferred Securities | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.4% |
| Other Assets and Liabilities, Net | (74.8%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.73% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PLRCX
![Image](g112232g01x08.jpg)

# PIMCO Long Duration Total Return Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8204TSRAR_033126

# Institutional Class: PLRIX

# PIMCO Long Duration Total Return Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long Duration Total Return Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $219 | 2.16% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg Long-Term Government/Credit Index ("Index"), as the strategy outperformed like-duration Treasuries.

* Interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Positioning within technology contributed to relative performance versus the Index, as select issuers outperformed.

* Overweight exposure to emerging markets contributed to relative performance versus the Index, as spreads narrowed.

* Positioning within investment grade credit detracted from relative performance versus the Index, as tactical spread beta positioning underperformed.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g97x03.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Government/Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1013214 | $1003838 | $1012264 |
| **5/31/16** | $1016654 | $1004096 | $1015544 |
| **6/30/16** | $1068244 | $1022137 | $1065482 |
| **7/31/16** | $1099500 | $1028599 | $1092705 |
| **8/31/16** | $1100544 | $1027423 | $1092428 |
| **9/30/16** | $1091545 | $1026821 | $1078683 |
| **10/31/16** | $1064222 | $1018967 | $1048096 |
| **11/30/16** | $996667 | $994865 | $986947 |
| **12/31/16** | $1004440 | $996268 | $994129 |
| **1/31/17** | $1016280 | $998223 | $997209 |
| **2/28/17** | $1038174 | $1004932 | $1015462 |
| **3/31/17** | $1035224 | $1004405 | $1009800 |
| **4/30/17** | $1052060 | $1012156 | $1025479 |
| **5/31/17** | $1073162 | $1019947 | $1046195 |
| **6/30/17** | $1083678 | $1018920 | $1054118 |
| **7/31/17** | $1088797 | $1023305 | $1056888 |
| **8/31/17** | $1111986 | $1032484 | $1080630 |
| **9/30/17** | $1103495 | $1027566 | $1070213 |
| **10/31/17** | $1107908 | $1028161 | $1074537 |
| **11/30/17** | $1114660 | $1026841 | $1080234 |
| **12/31/17** | $1132471 | $1031554 | $1100614 |
| **1/31/18** | $1112173 | $1019674 | $1078014 |
| **2/28/18** | $1079610 | $1010008 | $1043941 |
| **3/31/18** | $1096780 | $1016485 | $1061200 |
| **4/30/18** | $1076325 | $1008925 | $1040576 |
| **5/31/18** | $1085173 | $1016126 | $1052406 |
| **6/30/18** | $1084612 | $1014876 | $1045851 |
| **7/31/18** | $1088086 | $1015117 | $1048461 |
| **8/31/18** | $1097336 | $1021649 | $1057396 |
| **9/30/18** | $1081355 | $1015070 | $1040982 |
| **10/31/18** | $1048649 | $1007049 | $1006104 |
| **11/30/18** | $1053408 | $1013060 | $1011667 |
| **12/31/18** | $1088781 | $1031671 | $1049118 |
| **1/31/19** | $1110225 | $1042627 | $1072579 |
| **2/28/19** | $1107063 | $1042023 | $1066645 |
| **3/31/19** | $1159562 | $1062032 | $1116789 |
| **4/30/19** | $1153304 | $1062304 | $1112275 |
| **5/31/19** | $1202169 | $1081161 | $1158216 |
| **6/30/19** | $1228606 | $1094739 | $1190379 |
| **7/31/19** | $1240892 | $1097147 | $1199037 |
| **8/31/19** | $1332985 | $1125576 | $1293440 |
| **9/30/19** | $1308620 | $1119581 | $1268745 |
| **10/31/19** | $1304243 | $1122953 | $1268005 |
| **11/30/19** | $1307836 | $1122381 | $1269019 |
| **12/31/19** | $1290655 | $1121599 | $1254589 |
| **1/31/20** | $1364210 | $1143184 | $1320121 |
| **2/29/20** | $1417246 | $1163759 | $1373067 |
| **3/31/20** | $1357480 | $1156911 | $1332508 |
| **4/30/20** | $1421893 | $1177476 | $1392611 |
| **5/31/20** | $1427501 | $1182959 | $1393842 |
| **6/30/20** | $1460863 | $1190410 | $1415468 |
| **7/31/20** | $1536471 | $1208191 | $1490598 |
| **8/31/20** | $1482869 | $1198439 | $1434716 |
| **9/30/20** | $1487713 | $1197782 | $1432699 |
| **10/31/20** | $1460559 | $1192434 | $1410050 |
| **11/30/20** | $1514723 | $1204134 | $1459694 |
| **12/31/20** | $1519973 | $1205794 | $1456778 |
| **1/31/21** | $1488422 | $1197148 | $1413461 |
| **2/28/21** | $1427974 | $1179861 | $1354177 |
| **3/31/21** | $1370291 | $1165128 | $1305138 |
| **4/30/21** | $1402361 | $1174333 | $1330702 |
| **5/31/21** | $1407430 | $1178169 | $1341488 |
| **6/30/21** | $1461555 | $1186447 | $1389180 |
| **7/31/21** | $1505060 | $1199713 | $1427830 |
| **8/31/21** | $1502132 | $1197429 | $1423481 |
| **9/30/21** | $1469742 | $1187061 | $1390204 |
| **10/31/21** | $1488193 | $1186734 | $1412896 |
| **11/30/21** | $1510675 | $1190245 | $1431818 |
| **12/31/21** | $1496686 | $1187200 | $1420133 |
| **1/31/22** | $1436237 | $1161622 | $1350490 |
| **2/28/22** | $1399300 | $1148663 | $1316248 |
| **3/31/22** | $1343419 | $1116751 | $1264563 |
| **4/30/22** | $1224151 | $1074373 | $1146988 |
| **5/31/22** | $1207316 | $1081300 | $1143415 |
| **6/30/22** | $1166457 | $1064336 | $1109360 |
| **7/31/22** | $1207487 | $1090343 | $1151049 |
| **8/31/22** | $1161609 | $1059533 | $1100493 |
| **9/30/22** | $1068141 | $1013755 | $1009132 |
| **10/31/22** | $1023494 | $1000624 | $971049 |
| **11/30/22** | $1100785 | $1037423 | $1049986 |
| **12/31/22** | $1083830 | $1032743 | $1035457 |
| **1/31/23** | $1159948 | $1064515 | $1103675 |
| **2/28/23** | $1109666 | $1036991 | $1048905 |
| **3/31/23** | $1151476 | $1063333 | $1095091 |
| **4/30/23** | $1157638 | $1069778 | $1102826 |
| **5/31/23** | $1130210 | $1058130 | $1072699 |
| **6/30/23** | $1138472 | $1054356 | $1080913 |
| **7/31/23** | $1124704 | $1053621 | $1069219 |
| **8/31/23** | $1100244 | $1046891 | $1044497 |
| **9/30/23** | $1033769 | $1020288 | $979579 |
| **10/31/23** | $987290 | $1004186 | $935510 |
| **11/30/23** | $1079739 | $1049662 | $1027998 |
| **12/31/23** | $1165978 | $1089842 | $1109240 |
| **1/31/24** | $1152975 | $1086849 | $1092274 |
| **2/29/24** | $1130627 | $1071494 | $1065610 |
| **3/31/24** | $1149748 | $1081388 | $1082546 |
| **4/30/24** | $1091260 | $1054074 | $1023421 |
| **5/31/24** | $1123582 | $1071944 | $1052323 |
| **6/30/24** | $1134708 | $1082092 | $1063806 |
| **7/31/24** | $1176424 | $1107367 | $1099490 |
| **8/31/24** | $1199245 | $1123279 | $1122386 |
| **9/30/24** | $1228335 | $1138319 | $1148456 |
| **10/31/24** | $1170860 | $1110090 | $1094649 |
| **11/30/24** | $1197859 | $1121827 | $1116723 |
| **12/31/24** | $1140416 | $1103468 | $1063184 |
| **1/31/25** | $1151368 | $1109322 | $1067684 |
| **2/28/25** | $1206474 | $1133729 | $1113759 |
| **3/31/25** | $1196417 | $1134155 | $1101142 |
| **4/30/25** | $1176357 | $1138613 | $1088422 |
| **5/31/25** | $1156265 | $1130460 | $1069622 |
| **6/30/25** | $1190591 | $1147843 | $1099110 |
| **7/31/25** | $1186755 | $1144815 | $1093770 |
| **8/31/25** | $1196547 | $1158507 | $1099584 |
| **9/30/25** | $1234616 | $1171145 | $1133813 |
| **10/31/25** | $1251441 | $1178462 | $1144339 |
| **11/30/25** | $1257488 | $1185785 | $1149483 |
| **12/31/25** | $1240350 | $1184031 | $1133572 |
| **1/31/26** | $1242955 | $1185295 | $1131012 |
| **2/28/26** | $1286893 | $1204706 | $1167400 |
| **3/31/26** | $1229897 | $1183475 | $1125010 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 2.80% | (2.14%) | 2.09% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Government/Credit Index | 2.17% | (2.93%) | 1.18% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2225282 |
| # of Portfolio Holdings | 1540 |
| Portfolio Turnover Rate | 206% |
| Total Net Advisory Fees Paid During the Reporting Period | $5677 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 74.8% |
| Corporate Bonds & Notes | 48.8% |
| U.S. Government Agencies | 25.8% |
| Asset-Backed Securities | 10.0% |
| Sovereign Issues | 7.0% |
| Non-Agency Mortgage-Backed Securities | 5.0% |
| Municipal Bonds & Notes | 1.4% |
| Loan Participations and Assignments | 0.8% |
| Preferred Securities | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.4% |
| Other Assets and Liabilities, Net | (74.8%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.73% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PLRIX
![Image](g112232g01x08.jpg)

# PIMCO Long Duration Total Return Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1889TSRAR_033126

# I-2: PLRPX

# PIMCO Long Duration Total Return Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long Duration Total Return Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $229 | 2.26% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg Long-Term Government/Credit Index ("Index"), as the strategy outperformed like-duration Treasuries.

* Interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Positioning within technology contributed to relative performance versus the Index, as select issuers outperformed.

* Overweight exposure to emerging markets contributed to relative performance versus the Index, as spreads narrowed.

* Positioning within investment grade credit detracted from relative performance versus the Index, as tactical spread beta positioning underperformed.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g91d95.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Government/Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1013128 | $1003838 | $1012264 |
| **5/31/16** | $1016484 | $1004096 | $1015544 |
| **6/30/16** | $1067980 | $1022137 | $1065482 |
| **7/31/16** | $1099137 | $1028599 | $1092705 |
| **8/31/16** | $1100089 | $1027423 | $1092428 |
| **9/30/16** | $1090999 | $1026821 | $1078683 |
| **10/31/16** | $1063603 | $1018967 | $1048096 |
| **11/30/16** | $995999 | $994865 | $986947 |
| **12/31/16** | $1003677 | $996268 | $994129 |
| **1/31/17** | $1015427 | $998223 | $997209 |
| **2/28/17** | $1037223 | $1004932 | $1015462 |
| **3/31/17** | $1034183 | $1004405 | $1009800 |
| **4/30/17** | $1050922 | $1012156 | $1025479 |
| **5/31/17** | $1071911 | $1019947 | $1046195 |
| **6/30/17** | $1082322 | $1018920 | $1054118 |
| **7/31/17** | $1087348 | $1023305 | $1056888 |
| **8/31/17** | $1110415 | $1032484 | $1080630 |
| **9/30/17** | $1101843 | $1027566 | $1070213 |
| **10/31/17** | $1106161 | $1028161 | $1074537 |
| **11/30/17** | $1112814 | $1026841 | $1080234 |
| **12/31/17** | $1130499 | $1031554 | $1100614 |
| **1/31/18** | $1110145 | $1019674 | $1078014 |
| **2/28/18** | $1077560 | $1010008 | $1043941 |
| **3/31/18** | $1094604 | $1016485 | $1061200 |
| **4/30/18** | $1074105 | $1008925 | $1040576 |
| **5/31/18** | $1082844 | $1016126 | $1052406 |
| **6/30/18** | $1082193 | $1014876 | $1045851 |
| **7/31/18** | $1085570 | $1015117 | $1048461 |
| **8/31/18** | $1094699 | $1021649 | $1057396 |
| **9/30/18** | $1078675 | $1015070 | $1040982 |
| **10/31/18** | $1045962 | $1007049 | $1006104 |
| **11/30/18** | $1050617 | $1013060 | $1011667 |
| **12/31/18** | $1085808 | $1031671 | $1049118 |
| **1/31/19** | $1107105 | $1042627 | $1072579 |
| **2/28/19** | $1103867 | $1042023 | $1066645 |
| **3/31/19** | $1156118 | $1062032 | $1116789 |
| **4/30/19** | $1149783 | $1062304 | $1112275 |
| **5/31/19** | $1198395 | $1081161 | $1158216 |
| **6/30/19** | $1224657 | $1094739 | $1190379 |
| **7/31/19** | $1236801 | $1097147 | $1199037 |
| **8/31/19** | $1328475 | $1125576 | $1293440 |
| **9/30/19** | $1304096 | $1119581 | $1268745 |
| **10/31/19** | $1299625 | $1122953 | $1268005 |
| **11/30/19** | $1303097 | $1122381 | $1269019 |
| **12/31/19** | $1285870 | $1121599 | $1254589 |
| **1/31/20** | $1359036 | $1143184 | $1320121 |
| **2/29/20** | $1411767 | $1163759 | $1373067 |
| **3/31/20** | $1352122 | $1156911 | $1332508 |
| **4/30/20** | $1416165 | $1177476 | $1392611 |
| **5/31/20** | $1421631 | $1182959 | $1393842 |
| **6/30/20** | $1454738 | $1190410 | $1415468 |
| **7/31/20** | $1529896 | $1208191 | $1490598 |
| **8/31/20** | $1476404 | $1198439 | $1434716 |
| **9/30/20** | $1481105 | $1197782 | $1432699 |
| **10/31/20** | $1453942 | $1192434 | $1410050 |
| **11/30/20** | $1507741 | $1204134 | $1459694 |
| **12/31/20** | $1512831 | $1205794 | $1456778 |
| **1/31/21** | $1481314 | $1197148 | $1413461 |
| **2/28/21** | $1421045 | $1179861 | $1354177 |
| **3/31/21** | $1363528 | $1165128 | $1305138 |
| **4/30/21** | $1395316 | $1174333 | $1330702 |
| **5/31/21** | $1400248 | $1178169 | $1341488 |
| **6/30/21** | $1453979 | $1186447 | $1389180 |
| **7/31/21** | $1497129 | $1199713 | $1427830 |
| **8/31/21** | $1494095 | $1197429 | $1423481 |
| **9/30/21** | $1461754 | $1187061 | $1390204 |
| **10/31/21** | $1479979 | $1186734 | $1412896 |
| **11/30/21** | $1502214 | $1190245 | $1431818 |
| **12/31/21** | $1488168 | $1187200 | $1420133 |
| **1/31/22** | $1427948 | $1161622 | $1350490 |
| **2/28/22** | $1391118 | $1148663 | $1316248 |
| **3/31/22** | $1335450 | $1116751 | $1264563 |
| **4/30/22** | $1216783 | $1074373 | $1146988 |
| **5/31/22** | $1199952 | $1081300 | $1143415 |
| **6/30/22** | $1159246 | $1064336 | $1109360 |
| **7/31/22** | $1199926 | $1090343 | $1151049 |
| **8/31/22** | $1154234 | $1059533 | $1100493 |
| **9/30/22** | $1061265 | $1013755 | $1009132 |
| **10/31/22** | $1016822 | $1000624 | $971049 |
| **11/30/22** | $1093520 | $1037423 | $1049986 |
| **12/31/22** | $1076577 | $1032743 | $1035457 |
| **1/31/23** | $1152096 | $1064515 | $1103675 |
| **2/28/23** | $1102067 | $1036991 | $1048905 |
| **3/31/23** | $1143490 | $1063333 | $1095091 |
| **4/30/23** | $1149522 | $1069778 | $1102826 |
| **5/31/23** | $1122194 | $1058130 | $1072699 |
| **6/30/23** | $1130302 | $1054356 | $1080913 |
| **7/31/23** | $1116545 | $1053621 | $1069219 |
| **8/31/23** | $1092174 | $1046891 | $1044497 |
| **9/30/23** | $1026097 | $1020288 | $979579 |
| **10/31/23** | $979879 | $1004186 | $935510 |
| **11/30/23** | $1071548 | $1049662 | $1027998 |
| **12/31/23** | $1157030 | $1089842 | $1109240 |
| **1/31/24** | $1144035 | $1086849 | $1092274 |
| **2/29/24** | $1121771 | $1071494 | $1065610 |
| **3/31/24** | $1140647 | $1081388 | $1082546 |
| **4/30/24** | $1082531 | $1054074 | $1023421 |
| **5/31/24** | $1114493 | $1071944 | $1052323 |
| **6/30/24** | $1125444 | $1082092 | $1063806 |
| **7/31/24** | $1166722 | $1107367 | $1099490 |
| **8/31/24** | $1189248 | $1123279 | $1122386 |
| **9/30/24** | $1218000 | $1138319 | $1148456 |
| **10/31/24** | $1160908 | $1110090 | $1094649 |
| **11/30/24** | $1187581 | $1121827 | $1116723 |
| **12/31/24** | $1130532 | $1103468 | $1063184 |
| **1/31/25** | $1141290 | $1109322 | $1067684 |
| **2/28/25** | $1195824 | $1133729 | $1113759 |
| **3/31/25** | $1185762 | $1134155 | $1101142 |
| **4/30/25** | $1165785 | $1138613 | $1088422 |
| **5/31/25** | $1145774 | $1130460 | $1069622 |
| **6/30/25** | $1179697 | $1147843 | $1099110 |
| **7/31/25** | $1175797 | $1144815 | $1093770 |
| **8/31/25** | $1185394 | $1158507 | $1099584 |
| **9/30/25** | $1223011 | $1171145 | $1133813 |
| **10/31/25** | $1239566 | $1178462 | $1144339 |
| **11/30/25** | $1245460 | $1185785 | $1149483 |
| **12/31/25** | $1228379 | $1184031 | $1133572 |
| **1/31/26** | $1230852 | $1185295 | $1131012 |
| **2/28/26** | $1274264 | $1204706 | $1167400 |
| **3/31/26** | $1217727 | $1183475 | $1125010 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 2.70% | (2.24%) | 1.99% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Government/Credit Index | 2.17% | (2.93%) | 1.18% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $2225282 |
| # of Portfolio Holdings | 1540 |
| Portfolio Turnover Rate | 206% |
| Total Net Advisory Fees Paid During the Reporting Period | $5677 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 74.8% |
| Corporate Bonds & Notes | 48.8% |
| U.S. Government Agencies | 25.8% |
| Asset-Backed Securities | 10.0% |
| Sovereign Issues | 7.0% |
| Non-Agency Mortgage-Backed Securities | 5.0% |
| Municipal Bonds & Notes | 1.4% |
| Loan Participations and Assignments | 0.8% |
| Preferred Securities | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | 0.4% |
| Other Assets and Liabilities, Net | (74.8%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 1.73% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PLRPX
![Image](g112232g01x08.jpg)

# PIMCO Long Duration Total Return Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1935TSRAR_033126

# Class A: PFGAX

# PIMCO Long-Term U.S. Government Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long-Term U.S. Government Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $409 | 4.08% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg US Long-Term Treasury Index ("Index"), as the strategy outperformed like-duration Treasuries.

* U.S. interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Out of benchmark exposure to investment grade credit contributed to relative performance versus the Index, as select issuers outperformed.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g18r70.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Treasury Index** |
| **3/31/16** | $9625 | $10000 | $10000 |
| **4/30/16** | $9600 | $10038 | $9950 |
| **5/31/16** | $9649 | $10041 | $10029 |
| **6/30/16** | $10266 | $10221 | $10644 |
| **7/31/16** | $10464 | $10286 | $10883 |
| **8/31/16** | $10378 | $10274 | $10780 |
| **9/30/16** | $10262 | $10268 | $10606 |
| **10/31/16** | $9842 | $10190 | $10174 |
| **11/30/16** | $9059 | $9949 | $9419 |
| **12/31/16** | $9027 | $9963 | $9369 |
| **1/31/17** | $9090 | $9982 | $9406 |
| **2/28/17** | $9228 | $10049 | $9552 |
| **3/31/17** | $9187 | $10044 | $9500 |
| **4/30/17** | $9326 | $10122 | $9646 |
| **5/31/17** | $9498 | $10199 | $9837 |
| **6/30/17** | $9563 | $10189 | $9876 |
| **7/31/17** | $9517 | $10233 | $9815 |
| **8/31/17** | $9798 | $10325 | $10152 |
| **9/30/17** | $9582 | $10276 | $9933 |
| **10/31/17** | $9584 | $10282 | $9925 |
| **11/30/17** | $9650 | $10268 | $9996 |
| **12/31/17** | $9811 | $10316 | $10168 |
| **1/31/18** | $9499 | $10197 | $9840 |
| **2/28/18** | $9216 | $10100 | $9544 |
| **3/31/18** | $9473 | $10165 | $9833 |
| **4/30/18** | $9271 | $10089 | $9642 |
| **5/31/18** | $9448 | $10161 | $9846 |
| **6/30/18** | $9499 | $10149 | $9864 |
| **7/31/18** | $9360 | $10151 | $9718 |
| **8/31/18** | $9492 | $10216 | $9872 |
| **9/30/18** | $9220 | $10151 | $9579 |
| **10/31/18** | $8950 | $10070 | $9287 |
| **11/30/18** | $9097 | $10131 | $9463 |
| **12/31/18** | $9570 | $10317 | $9981 |
| **1/31/19** | $9603 | $10426 | $10048 |
| **2/28/19** | $9492 | $10420 | $9925 |
| **3/31/19** | $10002 | $10620 | $10447 |
| **4/30/19** | $9814 | $10623 | $10260 |
| **5/31/19** | $10406 | $10812 | $10931 |
| **6/30/19** | $10506 | $10947 | $11077 |
| **7/31/19** | $10526 | $10971 | $11095 |
| **8/31/19** | $11609 | $11256 | $12260 |
| **9/30/19** | $11315 | $11196 | $11954 |
| **10/31/19** | $11170 | $11230 | $11851 |
| **11/30/19** | $11159 | $11224 | $11790 |
| **12/31/19** | $10818 | $11216 | $11461 |
| **1/31/20** | $11616 | $11432 | $12245 |
| **2/29/20** | $12364 | $11638 | $13066 |
| **3/31/20** | $13068 | $11569 | $13857 |
| **4/30/20** | $13292 | $11775 | $14137 |
| **5/31/20** | $13076 | $11830 | $13873 |
| **6/30/20** | $13140 | $11904 | $13891 |
| **7/31/20** | $13671 | $12082 | $14478 |
| **8/31/20** | $13067 | $11984 | $13854 |
| **9/30/20** | $13118 | $11978 | $13907 |
| **10/31/20** | $12637 | $11924 | $13489 |
| **11/30/20** | $12840 | $12041 | $13651 |
| **12/31/20** | $12709 | $12058 | $13490 |
| **1/31/21** | $12328 | $11971 | $13003 |
| **2/28/21** | $11673 | $11799 | $12279 |
| **3/31/21** | $11082 | $11651 | $11667 |
| **4/30/21** | $11353 | $11743 | $11938 |
| **5/31/21** | $11325 | $11782 | $11992 |
| **6/30/21** | $11764 | $11864 | $12421 |
| **7/31/21** | $12205 | $11997 | $12874 |
| **8/31/21** | $12155 | $11974 | $12847 |
| **9/30/21** | $11806 | $11871 | $12479 |
| **10/31/21** | $11991 | $11867 | $12711 |
| **11/30/21** | $12283 | $11902 | $13048 |
| **12/31/21** | $12089 | $11872 | $12863 |
| **1/31/22** | $11631 | $11616 | $12331 |
| **2/28/22** | $11465 | $11487 | $12150 |
| **3/31/22** | $10873 | $11168 | $11502 |
| **4/30/22** | $9920 | $10744 | $10479 |
| **5/31/22** | $9733 | $10813 | $10281 |
| **6/30/22** | $9568 | $10643 | $10129 |
| **7/31/22** | $9834 | $10903 | $10399 |
| **8/31/22** | $9373 | $10595 | $9939 |
| **9/30/22** | $8641 | $10138 | $9154 |
| **10/31/22** | $8179 | $10006 | $8646 |
| **11/30/22** | $8767 | $10374 | $9257 |
| **12/31/22** | $8558 | $10327 | $9100 |
| **1/31/23** | $9148 | $10645 | $9683 |
| **2/28/23** | $8728 | $10370 | $9224 |
| **3/31/23** | $9118 | $10633 | $9661 |
| **4/30/23** | $9159 | $10698 | $9711 |
| **5/31/23** | $8906 | $10581 | $9440 |
| **6/30/23** | $8916 | $10544 | $9438 |
| **7/31/23** | $8726 | $10536 | $9234 |
| **8/31/23** | $8490 | $10469 | $8976 |
| **9/30/23** | $7876 | $10203 | $8322 |
| **10/31/23** | $7481 | $10042 | $7911 |
| **11/30/23** | $8158 | $10497 | $8635 |
| **12/31/23** | $8830 | $10898 | $9379 |
| **1/31/24** | $8688 | $10868 | $9172 |
| **2/29/24** | $8481 | $10715 | $8963 |
| **3/31/24** | $8581 | $10814 | $9073 |
| **4/30/24** | $8069 | $10541 | $8520 |
| **5/31/24** | $8301 | $10719 | $8764 |
| **6/30/24** | $8428 | $10821 | $8908 |
| **7/31/24** | $8729 | $11074 | $9227 |
| **8/31/24** | $8900 | $11233 | $9415 |
| **9/30/24** | $9087 | $11383 | $9605 |
| **10/31/24** | $8608 | $11101 | $9105 |
| **11/30/24** | $8776 | $11218 | $9270 |
| **12/31/24** | $8302 | $11035 | $8777 |
| **1/31/25** | $8362 | $11093 | $8814 |
| **2/28/25** | $8797 | $11337 | $9270 |
| **3/31/25** | $8725 | $11342 | $9188 |
| **4/30/25** | $8611 | $11386 | $9088 |
| **5/31/25** | $8372 | $11305 | $8827 |
| **6/30/25** | $8582 | $11478 | $9047 |
| **7/31/25** | $8521 | $11448 | $8966 |
| **8/31/25** | $8566 | $11585 | $8995 |
| **9/30/25** | $8820 | $11711 | $9272 |
| **10/31/25** | $8942 | $11785 | $9391 |
| **11/30/25** | $8984 | $11858 | $9431 |
| **12/31/25** | $8806 | $11840 | $9268 |
| **1/31/26** | $8811 | $11853 | $9225 |
| **2/28/26** | $9164 | $12047 | $9612 |
| **3/31/26** | $8776 | $11835 | $9230 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 0.58% | (4.56%) | (0.92%) |
| Class A (including sales charge) | (3.19%) | (5.28%) | (1.30%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Treasury Index | 0.47% | (4.58%) | (0.80%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $725428 |
| # of Portfolio Holdings | 333 |
| Portfolio Turnover Rate | 142% |
| Total Net Advisory Fees Paid During the Reporting Period | $1767 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 169.2% |
| U.S. Government Agencies | 27.3% |
| Non-Agency Mortgage-Backed Securities | 3.4% |
| Asset-Backed Securities | 2.0% |
| Corporate Bonds & Notes | 1.5% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | (0.1%) |
| Other Assets and Liabilities, Net | (103.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.07% as a result of higher expenses related to interest.

Change to Principal Investment Strategies. Effective May 21, 2025, the Fund's investments in Fixed Income Instruments are limited to those of investment grade U.S. dollar denominated securities of U.S. issuers that are rated at least A by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's Ratings Services ("S&P") or Fitch Ratings, Inc. ("Fitch"), or, if unrated, determined by PIMCO to be of comparable quality. In addition, the Fund may only invest up to 10% of its total assets in securities rated A by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality and may only invest up to 25% of its total assets in securities rated Aa by Moody's, or equivalently rated by S&P or Fitch or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. For the avoidance of doubt, investments in securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises are not subject to these limits.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PFGAX
![Image](g112232g01x08.jpg)

# PIMCO Long-Term U.S. Government Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4003TSRAR_033126

# Class C: PFGCX

# PIMCO Long-Term U.S. Government Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long-Term U.S. Government Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $482 | 4.83% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg US Long-Term Treasury Index ("Index"), as the strategy outperformed like-duration Treasuries.

* U.S. interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Out of benchmark exposure to investment grade credit contributed to relative performance versus the Index, as select issuers outperformed.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g34n43.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Treasury Index** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $9968 | $10038 | $9950 |
| **5/31/16** | $10012 | $10041 | $10029 |
| **6/30/16** | $10646 | $10221 | $10644 |
| **7/31/16** | $10845 | $10286 | $10883 |
| **8/31/16** | $10749 | $10274 | $10780 |
| **9/30/16** | $10622 | $10268 | $10606 |
| **10/31/16** | $10181 | $10190 | $10174 |
| **11/30/16** | $9365 | $9949 | $9419 |
| **12/31/16** | $9326 | $9963 | $9369 |
| **1/31/17** | $9385 | $9982 | $9406 |
| **2/28/17** | $9522 | $10049 | $9552 |
| **3/31/17** | $9473 | $10044 | $9500 |
| **4/30/17** | $9611 | $10122 | $9646 |
| **5/31/17** | $9782 | $10199 | $9837 |
| **6/30/17** | $9842 | $10189 | $9876 |
| **7/31/17** | $9790 | $10233 | $9815 |
| **8/31/17** | $10072 | $10325 | $10152 |
| **9/30/17** | $9844 | $10276 | $9933 |
| **10/31/17** | $9840 | $10282 | $9925 |
| **11/30/17** | $9901 | $10268 | $9996 |
| **12/31/17** | $10060 | $10316 | $10168 |
| **1/31/18** | $9734 | $10197 | $9840 |
| **2/28/18** | $9439 | $10100 | $9544 |
| **3/31/18** | $9695 | $10165 | $9833 |
| **4/30/18** | $9483 | $10089 | $9642 |
| **5/31/18** | $9658 | $10161 | $9846 |
| **6/30/18** | $9704 | $10149 | $9864 |
| **7/31/18** | $9556 | $10151 | $9718 |
| **8/31/18** | $9684 | $10216 | $9872 |
| **9/30/18** | $9401 | $10151 | $9579 |
| **10/31/18** | $9121 | $10070 | $9287 |
| **11/30/18** | $9264 | $10131 | $9463 |
| **12/31/18** | $9740 | $10317 | $9981 |
| **1/31/19** | $9767 | $10426 | $10048 |
| **2/28/19** | $9649 | $10420 | $9925 |
| **3/31/19** | $10161 | $10620 | $10447 |
| **4/30/19** | $9964 | $10623 | $10260 |
| **5/31/19** | $10558 | $10812 | $10931 |
| **6/30/19** | $10654 | $10947 | $11077 |
| **7/31/19** | $10667 | $10971 | $11095 |
| **8/31/19** | $11757 | $11256 | $12260 |
| **9/30/19** | $11453 | $11196 | $11954 |
| **10/31/19** | $11299 | $11230 | $11851 |
| **11/30/19** | $11281 | $11224 | $11790 |
| **12/31/19** | $10929 | $11216 | $11461 |
| **1/31/20** | $11728 | $11432 | $12245 |
| **2/29/20** | $12476 | $11638 | $13066 |
| **3/31/20** | $13179 | $11569 | $13857 |
| **4/30/20** | $13397 | $11775 | $14137 |
| **5/31/20** | $13171 | $11830 | $13873 |
| **6/30/20** | $13227 | $11904 | $13891 |
| **7/31/20** | $13752 | $12082 | $14478 |
| **8/31/20** | $13137 | $11984 | $13854 |
| **9/30/20** | $13180 | $11978 | $13907 |
| **10/31/20** | $12688 | $11924 | $13489 |
| **11/30/20** | $12884 | $12041 | $13651 |
| **12/31/20** | $12744 | $12058 | $13490 |
| **1/31/21** | $12354 | $11971 | $13003 |
| **2/28/21** | $11691 | $11799 | $12279 |
| **3/31/21** | $11092 | $11651 | $11667 |
| **4/30/21** | $11356 | $11743 | $11938 |
| **5/31/21** | $11321 | $11782 | $11992 |
| **6/30/21** | $11753 | $11864 | $12421 |
| **7/31/21** | $12186 | $11997 | $12874 |
| **8/31/21** | $12128 | $11974 | $12847 |
| **9/30/21** | $11772 | $11871 | $12479 |
| **10/31/21** | $11950 | $11867 | $12711 |
| **11/30/21** | $12234 | $11902 | $13048 |
| **12/31/21** | $12032 | $11872 | $12863 |
| **1/31/22** | $11569 | $11616 | $12331 |
| **2/28/22** | $11398 | $11487 | $12150 |
| **3/31/22** | $10802 | $11168 | $11502 |
| **4/30/22** | $9849 | $10744 | $10479 |
| **5/31/22** | $9658 | $10813 | $10281 |
| **6/30/22** | $9488 | $10643 | $10129 |
| **7/31/22** | $9746 | $10903 | $10399 |
| **8/31/22** | $9283 | $10595 | $9939 |
| **9/30/22** | $8551 | $10138 | $9154 |
| **10/31/22** | $8089 | $10006 | $8646 |
| **11/30/22** | $8666 | $10374 | $9257 |
| **12/31/22** | $8453 | $10327 | $9100 |
| **1/31/23** | $9031 | $10645 | $9683 |
| **2/28/23** | $8611 | $10370 | $9224 |
| **3/31/23** | $8990 | $10633 | $9661 |
| **4/30/23** | $9025 | $10698 | $9711 |
| **5/31/23** | $8771 | $10581 | $9440 |
| **6/30/23** | $8774 | $10544 | $9438 |
| **7/31/23** | $8582 | $10536 | $9234 |
| **8/31/23** | $8345 | $10469 | $8976 |
| **9/30/23** | $7736 | $10203 | $8322 |
| **10/31/23** | $7344 | $10042 | $7911 |
| **11/30/23** | $8004 | $10497 | $8635 |
| **12/31/23** | $8657 | $10898 | $9379 |
| **1/31/24** | $8513 | $10868 | $9172 |
| **2/29/24** | $8305 | $10715 | $8963 |
| **3/31/24** | $8398 | $10814 | $9073 |
| **4/30/24** | $7892 | $10541 | $8520 |
| **5/31/24** | $8113 | $10719 | $8764 |
| **6/30/24** | $8233 | $10821 | $8908 |
| **7/31/24** | $8522 | $11074 | $9227 |
| **8/31/24** | $8682 | $11233 | $9415 |
| **9/30/24** | $8859 | $11383 | $9605 |
| **10/31/24** | $8388 | $11101 | $9105 |
| **11/30/24** | $8545 | $11218 | $9270 |
| **12/31/24** | $8079 | $11035 | $8777 |
| **1/31/25** | $8132 | $11093 | $8814 |
| **2/28/25** | $8550 | $11337 | $9270 |
| **3/31/25** | $8476 | $11342 | $9188 |
| **4/30/25** | $8359 | $11386 | $9088 |
| **5/31/25** | $8122 | $11305 | $8827 |
| **6/30/25** | $8321 | $11478 | $9047 |
| **7/31/25** | $8256 | $11448 | $8966 |
| **8/31/25** | $8295 | $11585 | $8995 |
| **9/30/25** | $8535 | $11711 | $9272 |
| **10/31/25** | $8648 | $11785 | $9391 |
| **11/30/25** | $8684 | $11858 | $9431 |
| **12/31/25** | $8505 | $11840 | $9268 |
| **1/31/26** | $8505 | $11853 | $9225 |
| **2/28/26** | $8841 | $12047 | $9612 |
| **3/31/26** | $8462 | $11835 | $9230 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | (0.16%) | (5.27%) | (1.66%) |
| Class C (including sales charge) | (1.13%) | (5.27%) | (1.66%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Treasury Index | 0.47% | (4.58%) | (0.80%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $725428 |
| # of Portfolio Holdings | 333 |
| Portfolio Turnover Rate | 142% |
| Total Net Advisory Fees Paid During the Reporting Period | $1767 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 169.2% |
| U.S. Government Agencies | 27.3% |
| Non-Agency Mortgage-Backed Securities | 3.4% |
| Asset-Backed Securities | 2.0% |
| Corporate Bonds & Notes | 1.5% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | (0.1%) |
| Other Assets and Liabilities, Net | (103.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.07% as a result of higher expenses related to interest.

Change to Principal Investment Strategies. Effective May 21, 2025, the Fund's investments in Fixed Income Instruments are limited to those of investment grade U.S. dollar denominated securities of U.S. issuers that are rated at least A by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's Ratings Services ("S&P") or Fitch Ratings, Inc. ("Fitch"), or, if unrated, determined by PIMCO to be of comparable quality. In addition, the Fund may only invest up to 10% of its total assets in securities rated A by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality and may only invest up to 25% of its total assets in securities rated Aa by Moody's, or equivalently rated by S&P or Fitch or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. For the avoidance of doubt, investments in securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises are not subject to these limits.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PFGCX
![Image](g112232g01x08.jpg)

# PIMCO Long-Term U.S. Government Fund
Annual Shareholder Report \|

March 31, 2026

PIMS4203TSRAR_033126

# Institutional Class: PGOVX

# PIMCO Long-Term U.S. Government Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long-Term U.S. Government Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $374 | 3.73% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg US Long-Term Treasury Index ("Index"), as the strategy outperformed like-duration Treasuries.

* U.S. interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Out of benchmark exposure to investment grade credit contributed to relative performance versus the Index, as select issuers outperformed.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g85e86.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Treasury Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $997701 | $1003838 | $994994 |
| **5/31/16** | $1003051 | $1004096 | $1002886 |
| **6/30/16** | $1067490 | $1022137 | $1064447 |
| **7/31/16** | $1088454 | $1028599 | $1088319 |
| **8/31/16** | $1079829 | $1027423 | $1077990 |
| **9/30/16** | $1068072 | $1026821 | $1060635 |
| **10/31/16** | $1024648 | $1018967 | $1017374 |
| **11/30/16** | $943454 | $994865 | $941895 |
| **12/31/16** | $940402 | $996268 | $936878 |
| **1/31/17** | $947217 | $998223 | $940563 |
| **2/28/17** | $961853 | $1004932 | $955219 |
| **3/31/17** | $957857 | $1004405 | $949950 |
| **4/30/17** | $972660 | $1012156 | $964611 |
| **5/31/17** | $990804 | $1019947 | $983687 |
| **6/30/17** | $997911 | $1018920 | $987602 |
| **7/31/17** | $993456 | $1023305 | $981500 |
| **8/31/17** | $1023049 | $1032484 | $1015210 |
| **9/30/17** | $1000832 | $1027566 | $993282 |
| **10/31/17** | $1001321 | $1028161 | $992533 |
| **11/30/17** | $1008446 | $1026841 | $999648 |
| **12/31/17** | $1025652 | $1031554 | $1016808 |
| **1/31/18** | $993262 | $1019674 | $983973 |
| **2/28/18** | $963989 | $1010008 | $954425 |
| **3/31/18** | $991112 | $1016485 | $983318 |
| **4/30/18** | $970229 | $1008925 | $964203 |
| **5/31/18** | $989039 | $1016126 | $984602 |
| **6/30/18** | $994691 | $1014876 | $986353 |
| **7/31/18** | $980389 | $1015117 | $971838 |
| **8/31/18** | $994585 | $1021649 | $987161 |
| **9/30/18** | $966320 | $1015070 | $957919 |
| **10/31/18** | $938347 | $1007049 | $928738 |
| **11/30/18** | $954046 | $1013060 | $946313 |
| **12/31/18** | $1003930 | $1031671 | $998090 |
| **1/31/19** | $1007624 | $1042627 | $1004790 |
| **2/28/19** | $996331 | $1042023 | $992510 |
| **3/31/19** | $1050099 | $1062032 | $1044670 |
| **4/30/19** | $1030712 | $1062304 | $1025965 |
| **5/31/19** | $1093170 | $1081161 | $1093100 |
| **6/30/19** | $1104005 | $1094739 | $1107693 |
| **7/31/19** | $1106344 | $1097147 | $1109467 |
| **8/31/19** | $1220622 | $1125576 | $1225957 |
| **9/30/19** | $1190024 | $1119581 | $1195376 |
| **10/31/19** | $1175126 | $1122953 | $1185107 |
| **11/30/19** | $1174256 | $1122381 | $1178985 |
| **12/31/19** | $1138729 | $1121599 | $1146080 |
| **1/31/20** | $1223107 | $1143184 | $1224531 |
| **2/29/20** | $1302166 | $1163759 | $1306582 |
| **3/31/20** | $1376738 | $1156911 | $1385661 |
| **4/30/20** | $1400709 | $1177476 | $1413695 |
| **5/31/20** | $1378368 | $1182959 | $1387305 |
| **6/30/20** | $1385465 | $1190410 | $1389102 |
| **7/31/20** | $1441879 | $1208191 | $1447803 |
| **8/31/20** | $1378654 | $1198439 | $1385382 |
| **9/30/20** | $1384409 | $1197782 | $1390712 |
| **10/31/20** | $1334040 | $1192434 | $1348859 |
| **11/30/20** | $1355799 | $1204134 | $1365051 |
| **12/31/20** | $1342472 | $1205794 | $1348969 |
| **1/31/21** | $1302511 | $1197148 | $1300299 |
| **2/28/21** | $1233673 | $1179861 | $1227908 |
| **3/31/21** | $1171554 | $1165128 | $1166693 |
| **4/30/21** | $1200627 | $1174333 | $1193844 |
| **5/31/21** | $1197946 | $1178169 | $1199223 |
| **6/30/21** | $1244796 | $1186447 | $1242092 |
| **7/31/21** | $1291798 | $1199713 | $1287399 |
| **8/31/21** | $1286868 | $1197429 | $1284690 |
| **9/30/21** | $1250280 | $1187061 | $1247910 |
| **10/31/21** | $1270291 | $1186734 | $1271111 |
| **11/30/21** | $1301604 | $1190245 | $1304848 |
| **12/31/21** | $1281424 | $1187200 | $1286293 |
| **1/31/22** | $1233242 | $1161622 | $1233059 |
| **2/28/22** | $1215972 | $1148663 | $1215034 |
| **3/31/22** | $1153515 | $1116751 | $1150169 |
| **4/30/22** | $1052752 | $1074373 | $1047893 |
| **5/31/22** | $1033220 | $1081300 | $1028064 |
| **6/30/22** | $1015986 | $1064336 | $1012903 |
| **7/31/22** | $1044547 | $1090343 | $1039928 |
| **8/31/22** | $995891 | $1059533 | $993892 |
| **9/30/22** | $918322 | $1013755 | $915378 |
| **10/31/22** | $869484 | $1000624 | $864587 |
| **11/30/22** | $932277 | $1037423 | $925729 |
| **12/31/22** | $910337 | $1032743 | $909982 |
| **1/31/23** | $973375 | $1064515 | $968311 |
| **2/28/23** | $928949 | $1036991 | $922379 |
| **3/31/23** | $970729 | $1063333 | $966101 |
| **4/30/23** | $975342 | $1069778 | $971135 |
| **5/31/23** | $948779 | $1058130 | $943992 |
| **6/30/23** | $950074 | $1054356 | $943836 |
| **7/31/23** | $930083 | $1053621 | $923375 |
| **8/31/23** | $905233 | $1046891 | $897629 |
| **9/30/23** | $839967 | $1020288 | $832153 |
| **10/31/23** | $798136 | $1004186 | $791088 |
| **11/30/23** | $870599 | $1049662 | $863522 |
| **12/31/23** | $942562 | $1089842 | $937858 |
| **1/31/24** | $927708 | $1086849 | $917209 |
| **2/29/24** | $905802 | $1071494 | $896275 |
| **3/31/24** | $916801 | $1081388 | $907317 |
| **4/30/24** | $862286 | $1054074 | $852043 |
| **5/31/24** | $887395 | $1071944 | $876383 |
| **6/30/24** | $901236 | $1082092 | $890850 |
| **7/31/24** | $933706 | $1107367 | $922692 |
| **8/31/24** | $952264 | $1123279 | $941483 |
| **9/30/24** | $972496 | $1138319 | $960524 |
| **10/31/24** | $921602 | $1110090 | $910521 |
| **11/30/24** | $939767 | $1121827 | $927050 |
| **12/31/24** | $889349 | $1103468 | $877728 |
| **1/31/25** | $896017 | $1109322 | $881381 |
| **2/28/25** | $942887 | $1133729 | $927006 |
| **3/31/25** | $935465 | $1134155 | $918759 |
| **4/30/25** | $923407 | $1138613 | $908760 |
| **5/31/25** | $898124 | $1130460 | $882669 |
| **6/30/25** | $920845 | $1147843 | $904729 |
| **7/31/25** | $914592 | $1144815 | $896582 |
| **8/31/25** | $919735 | $1158507 | $899479 |
| **9/30/25** | $947214 | $1171145 | $927232 |
| **10/31/25** | $960618 | $1178462 | $939110 |
| **11/30/25** | $965434 | $1185785 | $943094 |
| **12/31/25** | $946541 | $1184031 | $926809 |
| **1/31/26** | $947423 | $1185295 | $922460 |
| **2/28/26** | $985605 | $1204706 | $961162 |
| **3/31/26** | $944202 | $1183475 | $923033 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 0.93% | (4.22%) | (0.57%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Treasury Index | 0.47% | (4.58%) | (0.80%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $725428 |
| # of Portfolio Holdings | 333 |
| Portfolio Turnover Rate | 142% |
| Total Net Advisory Fees Paid During the Reporting Period | $1767 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 169.2% |
| U.S. Government Agencies | 27.3% |
| Non-Agency Mortgage-Backed Securities | 3.4% |
| Asset-Backed Securities | 2.0% |
| Corporate Bonds & Notes | 1.5% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | (0.1%) |
| Other Assets and Liabilities, Net | (103.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.07% as a result of higher expenses related to interest.

Change to Principal Investment Strategies. Effective May 21, 2025, the Fund's investments in Fixed Income Instruments are limited to those of investment grade U.S. dollar denominated securities of U.S. issuers that are rated at least A by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's Ratings Services ("S&P") or Fitch Ratings, Inc. ("Fitch"), or, if unrated, determined by PIMCO to be of comparable quality. In addition, the Fund may only invest up to 10% of its total assets in securities rated A by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality and may only invest up to 25% of its total assets in securities rated Aa by Moody's, or equivalently rated by S&P or Fitch or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. For the avoidance of doubt, investments in securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises are not subject to these limits.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PGOVX
![Image](g112232g01x08.jpg)

# PIMCO Long-Term U.S. Government Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0101TSRAR_033126

# I-2: PLTPX

# PIMCO Long-Term U.S. Government Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Long-Term U.S. Government Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $384 | 3.83% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Out of benchmark exposure to securitized strategies contributed to relative performance versus the Bloomberg US Long-Term Treasury Index ("Index"), as the strategy outperformed like-duration Treasuries.

* U.S. interest rates strategies overall, including duration, curve positioning, and instrument selection contributed to relative performance versus the Index, as the curve steepened.

* Out of benchmark exposure to investment grade credit contributed to relative performance versus the Index, as select issuers outperformed.

* There were no material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g04q26.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg Long-Term Treasury Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $997616 | $1003838 | $994994 |
| **5/31/16** | $1002876 | $1004096 | $1002886 |
| **6/30/16** | $1067221 | $1022137 | $1064447 |
| **7/31/16** | $1088087 | $1028599 | $1088319 |
| **8/31/16** | $1079375 | $1027423 | $1077990 |
| **9/30/16** | $1067529 | $1026821 | $1060635 |
| **10/31/16** | $1024038 | $1018967 | $1017374 |
| **11/30/16** | $942809 | $994865 | $941895 |
| **12/31/16** | $939649 | $996268 | $936878 |
| **1/31/17** | $946379 | $998223 | $940563 |
| **2/28/17** | $960929 | $1004932 | $955219 |
| **3/31/17** | $956853 | $1004405 | $949950 |
| **4/30/17** | $971568 | $1012156 | $964611 |
| **5/31/17** | $989610 | $1019947 | $983687 |
| **6/30/17** | $996622 | $1018920 | $987602 |
| **7/31/17** | $992095 | $1023305 | $981500 |
| **8/31/17** | $1021562 | $1032484 | $1015210 |
| **9/30/17** | $999290 | $1027566 | $993282 |
| **10/31/17** | $999693 | $1028161 | $992533 |
| **11/30/17** | $1006723 | $1026841 | $999648 |
| **12/31/17** | $1023810 | $1031554 | $1016808 |
| **1/31/18** | $991398 | $1019674 | $983973 |
| **2/28/18** | $962107 | $1010008 | $954425 |
| **3/31/18** | $989092 | $1016485 | $983318 |
| **4/30/18** | $968175 | $1008925 | $964203 |
| **5/31/18** | $986864 | $1016126 | $984602 |
| **6/30/18** | $992421 | $1014876 | $986353 |
| **7/31/18** | $978074 | $1015117 | $971838 |
| **8/31/18** | $992145 | $1021649 | $987161 |
| **9/30/18** | $963879 | $1015070 | $957919 |
| **10/31/18** | $935884 | $1007049 | $928738 |
| **11/30/18** | $951457 | $1013060 | $946313 |
| **12/31/18** | $1001098 | $1031671 | $998090 |
| **1/31/19** | $1004711 | $1042627 | $1004790 |
| **2/28/19** | $993366 | $1042023 | $992510 |
| **3/31/19** | $1046888 | $1062032 | $1044670 |
| **4/30/19** | $1027477 | $1062304 | $1025965 |
| **5/31/19** | $1089646 | $1081161 | $1093100 |
| **6/30/19** | $1100366 | $1094739 | $1107693 |
| **7/31/19** | $1102605 | $1097147 | $1109467 |
| **8/31/19** | $1216390 | $1125576 | $1225957 |
| **9/30/19** | $1185811 | $1119581 | $1195376 |
| **10/31/19** | $1170866 | $1122953 | $1185107 |
| **11/30/19** | $1169899 | $1122381 | $1178985 |
| **12/31/19** | $1134413 | $1121599 | $1146080 |
| **1/31/20** | $1218369 | $1143184 | $1224531 |
| **2/29/20** | $1297028 | $1163759 | $1306582 |
| **3/31/20** | $1371206 | $1156911 | $1385661 |
| **4/30/20** | $1394961 | $1177476 | $1413695 |
| **5/31/20** | $1372594 | $1182959 | $1387305 |
| **6/30/20** | $1379545 | $1190410 | $1389102 |
| **7/31/20** | $1435597 | $1208191 | $1447803 |
| **8/31/20** | $1372543 | $1198439 | $1385382 |
| **9/30/20** | $1378159 | $1197782 | $1390712 |
| **10/31/20** | $1327900 | $1192434 | $1348859 |
| **11/30/20** | $1349451 | $1204134 | $1365051 |
| **12/31/20** | $1336062 | $1205794 | $1348969 |
| **1/31/21** | $1296191 | $1197148 | $1300299 |
| **2/28/21** | $1227592 | $1179861 | $1227908 |
| **3/31/21** | $1165677 | $1165128 | $1166693 |
| **4/30/21** | $1194501 | $1174333 | $1193844 |
| **5/31/21** | $1191739 | $1178169 | $1199223 |
| **6/30/21** | $1238246 | $1186447 | $1242092 |
| **7/31/21** | $1284891 | $1199713 | $1287399 |
| **8/31/21** | $1279881 | $1197429 | $1284690 |
| **9/30/21** | $1243376 | $1187061 | $1247910 |
| **10/31/21** | $1263182 | $1186734 | $1271111 |
| **11/30/21** | $1294214 | $1190245 | $1304848 |
| **12/31/21** | $1274031 | $1187200 | $1286293 |
| **1/31/22** | $1226032 | $1161622 | $1233059 |
| **2/28/22** | $1208772 | $1148663 | $1215034 |
| **3/31/22** | $1146587 | $1116751 | $1150169 |
| **4/30/22** | $1046339 | $1074373 | $1047893 |
| **5/31/22** | $1026841 | $1081300 | $1028064 |
| **6/30/22** | $1009631 | $1064336 | $1012903 |
| **7/31/22** | $1037928 | $1090343 | $1039928 |
| **8/31/22** | $989495 | $1059533 | $993892 |
| **9/30/22** | $912341 | $1013755 | $915378 |
| **10/31/22** | $863750 | $1000624 | $864587 |
| **11/30/22** | $926057 | $1037423 | $925729 |
| **12/31/22** | $904179 | $1032743 | $909982 |
| **1/31/23** | $966714 | $1064515 | $968311 |
| **2/28/23** | $922520 | $1036991 | $922379 |
| **3/31/23** | $963921 | $1063333 | $966101 |
| **4/30/23** | $968427 | $1069778 | $971135 |
| **5/31/23** | $941970 | $1058130 | $943992 |
| **6/30/23** | $943174 | $1054356 | $943836 |
| **7/31/23** | $923258 | $1053621 | $923375 |
| **8/31/23** | $898516 | $1046891 | $897629 |
| **9/30/23** | $833661 | $1020288 | $832153 |
| **10/31/23** | $792076 | $1004186 | $791088 |
| **11/30/23** | $863923 | $1049662 | $863522 |
| **12/31/23** | $935254 | $1089842 | $937858 |
| **1/31/24** | $920445 | $1086849 | $917209 |
| **2/29/24** | $898640 | $1071494 | $896275 |
| **3/31/24** | $909475 | $1081388 | $907317 |
| **4/30/24** | $855323 | $1054074 | $852043 |
| **5/31/24** | $880150 | $1071944 | $876383 |
| **6/30/24** | $893808 | $1082092 | $890850 |
| **7/31/24** | $925934 | $1107367 | $922692 |
| **8/31/24** | $944251 | $1123279 | $941483 |
| **9/30/24** | $964240 | $1138319 | $960524 |
| **10/31/24** | $913697 | $1110090 | $910521 |
| **11/30/24** | $931628 | $1121827 | $927050 |
| **12/31/24** | $881569 | $1103468 | $877728 |
| **1/31/25** | $888103 | $1109322 | $881381 |
| **2/28/25** | $934489 | $1133729 | $927006 |
| **3/31/25** | $927056 | $1134155 | $918759 |
| **4/30/25** | $915033 | $1138613 | $908760 |
| **5/31/25** | $889902 | $1130460 | $882669 |
| **6/30/25** | $912344 | $1147843 | $904729 |
| **7/31/25** | $906072 | $1144815 | $896582 |
| **8/31/25** | $911087 | $1158507 | $899479 |
| **9/30/25** | $938233 | $1171145 | $927232 |
| **10/31/25** | $951424 | $1178462 | $939110 |
| **11/30/25** | $956123 | $1185785 | $943094 |
| **12/31/25** | $937329 | $1184031 | $926809 |
| **1/31/26** | $938122 | $1185295 | $922460 |
| **2/28/26** | $975855 | $1204706 | $961162 |
| **3/31/26** | $934784 | $1183475 | $923033 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 0.83% | (4.32%) | (0.67%) |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg Long-Term Treasury Index | 0.47% | (4.58%) | (0.80%) |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $725428 |
| # of Portfolio Holdings | 333 |
| Portfolio Turnover Rate | 142% |
| Total Net Advisory Fees Paid During the Reporting Period | $1767 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 169.2% |
| U.S. Government Agencies | 27.3% |
| Non-Agency Mortgage-Backed Securities | 3.4% |
| Asset-Backed Securities | 2.0% |
| Corporate Bonds & Notes | 1.5% |
| Short-Term Instruments | 0.4% |
| Affiliated Investments | 0.0%<sup>Footnote Reference^</sup> |
| Financial Derivative Instruments | (0.1%) |
| Other Assets and Liabilities, Net | (103.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.07% as a result of higher expenses related to interest.

Change to Principal Investment Strategies. Effective May 21, 2025, the Fund's investments in Fixed Income Instruments are limited to those of investment grade U.S. dollar denominated securities of U.S. issuers that are rated at least A by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's Ratings Services ("S&P") or Fitch Ratings, Inc. ("Fitch"), or, if unrated, determined by PIMCO to be of comparable quality. In addition, the Fund may only invest up to 10% of its total assets in securities rated A by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality and may only invest up to 25% of its total assets in securities rated Aa by Moody's, or equivalently rated by S&P or Fitch or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. For the avoidance of doubt, investments in securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises are not subject to these limits.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PLTPX
![Image](g112232g01x08.jpg)

# PIMCO Long-Term U.S. Government Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1903TSRAR_033126

# Class A: ATMAX

# PIMCO Low Duration Opportunities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Low Duration Opportunities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $99 | 0.96% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to U.S. duration in the short and intermediate portions and short exposure to U.S. duration in the long end of the U.S. yield curve contributed to performance, as interest rates fell across the short and intermediate portions and rose in the long end of the U.S. yield curve.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Short exposure to the Swiss Franc detracted from performance, as the Swiss Franc appreciated versus the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g27f62.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Aggregate 1-3 Years Index** |
| **3/31/16** | $9621 | $10000 | $10000 |
| **4/30/16** | $9756 | $10038 | $10014 |
| **5/31/16** | $9793 | $10041 | $10008 |
| **6/30/16** | $9713 | $10221 | $10068 |
| **7/31/16** | $9797 | $10286 | $10070 |
| **8/31/16** | $9844 | $10274 | $10059 |
| **9/30/16** | $9980 | $10268 | $10071 |
| **10/31/16** | $10047 | $10190 | $10068 |
| **11/30/16** | $9900 | $9949 | $10027 |
| **12/31/16** | $10079 | $9963 | $10033 |
| **1/31/17** | $10225 | $9982 | $10052 |
| **2/28/17** | $10330 | $10049 | $10068 |
| **3/31/17** | $10399 | $10044 | $10074 |
| **4/30/17** | $10497 | $10122 | $10093 |
| **5/31/17** | $10558 | $10199 | $10110 |
| **6/30/17** | $10592 | $10189 | $10106 |
| **7/31/17** | $10642 | $10233 | $10132 |
| **8/31/17** | $10713 | $10325 | $10153 |
| **9/30/17** | $10766 | $10276 | $10140 |
| **10/31/17** | $10777 | $10282 | $10138 |
| **11/30/17** | $10831 | $10268 | $10117 |
| **12/31/17** | $10828 | $10316 | $10120 |
| **1/31/18** | $10928 | $10197 | $10093 |
| **2/28/18** | $10974 | $10100 | $10083 |
| **3/31/18** | $11002 | $10165 | $10099 |
| **4/30/18** | $11026 | $10089 | $10089 |
| **5/31/18** | $11068 | $10161 | $10127 |
| **6/30/18** | $11080 | $10149 | $10128 |
| **7/31/18** | $11131 | $10151 | $10134 |
| **8/31/18** | $11128 | $10216 | $10169 |
| **9/30/18** | $11122 | $10151 | $10162 |
| **10/31/18** | $11153 | $10070 | $10173 |
| **11/30/18** | $11144 | $10131 | $10203 |
| **12/31/18** | $11169 | $10317 | $10282 |
| **1/31/19** | $11289 | $10426 | $10323 |
| **2/28/19** | $11339 | $10420 | $10339 |
| **3/31/19** | $11385 | $10620 | $10407 |
| **4/30/19** | $11454 | $10623 | $10430 |
| **5/31/19** | $11473 | $10812 | $10504 |
| **6/30/19** | $11520 | $10947 | $10562 |
| **7/31/19** | $11514 | $10971 | $10558 |
| **8/31/19** | $11410 | $11256 | $10641 |
| **9/30/19** | $11422 | $11196 | $10636 |
| **10/31/19** | $11510 | $11230 | $10672 |
| **11/30/19** | $11566 | $11224 | $10673 |
| **12/31/19** | $11705 | $11216 | $10697 |
| **1/31/20** | $11694 | $11432 | $10757 |
| **2/29/20** | $11681 | $11638 | $10845 |
| **3/31/20** | $11247 | $11569 | $10889 |
| **4/30/20** | $11435 | $11775 | $10948 |
| **5/31/20** | $11593 | $11830 | $10969 |
| **6/30/20** | $11744 | $11904 | $10984 |
| **7/31/20** | $11819 | $12082 | $11001 |
| **8/31/20** | $11883 | $11984 | $11003 |
| **9/30/20** | $11903 | $11978 | $11002 |
| **10/31/20** | $11957 | $11924 | $11001 |
| **11/30/20** | $12078 | $12041 | $11012 |
| **12/31/20** | $12162 | $12058 | $11027 |
| **1/31/21** | $12192 | $11971 | $11031 |
| **2/28/21** | $12201 | $11799 | $11024 |
| **3/31/21** | $12177 | $11651 | $11018 |
| **4/30/21** | $12208 | $11743 | $11027 |
| **5/31/21** | $12238 | $11782 | $11040 |
| **6/30/21** | $12213 | $11864 | $11024 |
| **7/31/21** | $12242 | $11997 | $11043 |
| **8/31/21** | $12236 | $11974 | $11043 |
| **9/30/21** | $12210 | $11871 | $11034 |
| **10/31/21** | $12105 | $11867 | $10998 |
| **11/30/21** | $12123 | $11902 | $10989 |
| **12/31/21** | $12165 | $11872 | $10972 |
| **1/31/22** | $12091 | $11616 | $10894 |
| **2/28/22** | $11998 | $11487 | $10845 |
| **3/31/22** | $11781 | $11168 | $10697 |
| **4/30/22** | $11577 | $10744 | $10638 |
| **5/31/22** | $11620 | $10813 | $10703 |
| **6/30/22** | $11429 | $10643 | $10629 |
| **7/31/22** | $11623 | $10903 | $10686 |
| **8/31/22** | $11418 | $10595 | $10600 |
| **9/30/22** | $11180 | $10138 | $10470 |
| **10/31/22** | $11189 | $10006 | $10456 |
| **11/30/22** | $11355 | $10374 | $10543 |
| **12/31/22** | $11385 | $10327 | $10564 |
| **1/31/23** | $11562 | $10645 | $10650 |
| **2/28/23** | $11476 | $10370 | $10570 |
| **3/31/23** | $11563 | $10633 | $10723 |
| **4/30/23** | $11603 | $10698 | $10760 |
| **5/31/23** | $11593 | $10581 | $10728 |
| **6/30/23** | $11617 | $10544 | $10685 |
| **7/31/23** | $11717 | $10536 | $10730 |
| **8/31/23** | $11738 | $10469 | $10770 |
| **9/30/23** | $11665 | $10203 | $10763 |
| **10/31/23** | $11602 | $10042 | $10798 |
| **11/30/23** | $11924 | $10497 | $10923 |
| **12/31/23** | $12130 | $10898 | $11055 |
| **1/31/24** | $12187 | $10868 | $11099 |
| **2/29/24** | $12186 | $10715 | $11060 |
| **3/31/24** | $12262 | $10814 | $11105 |
| **4/30/24** | $12246 | $10541 | $11067 |
| **5/31/24** | $12363 | $10719 | $11148 |
| **6/30/24** | $12403 | $10821 | $11210 |
| **7/31/24** | $12553 | $11074 | $11343 |
| **8/31/24** | $12597 | $11233 | $11447 |
| **9/30/24** | $12732 | $11383 | $11542 |
| **10/31/24** | $12674 | $11101 | $11475 |
| **11/30/24** | $12816 | $11218 | $11514 |
| **12/31/24** | $12847 | $11035 | $11540 |
| **1/31/25** | $12974 | $11093 | $11592 |
| **2/28/25** | $13060 | $11337 | $11674 |
| **3/31/25** | $13116 | $11342 | $11728 |
| **4/30/25** | $13077 | $11386 | $11815 |
| **5/31/25** | $13125 | $11305 | $11801 |
| **6/30/25** | $13282 | $11478 | $11877 |
| **7/31/25** | $13320 | $11448 | $11875 |
| **8/31/25** | $13473 | $11585 | $11980 |
| **9/30/25** | $13571 | $11711 | $12019 |
| **10/31/25** | $13675 | $11785 | $12061 |
| **11/30/25** | $13733 | $11858 | $12117 |
| **12/31/25** | $13832 | $11840 | $12162 |
| **1/31/26** | $13924 | $11853 | $12189 |
| **2/28/26** | $13942 | $12047 | $12253 |
| **3/31/26** | $13811 | $11835 | $12201 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 5.30% | 2.55% | 3.68% |
| Class A (including sales charge) | 1.32% | 1.77% | 3.28% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Aggregate 1-3 Years Index | 4.03% | 2.06% | 2.01% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $110906 |
| # of Portfolio Holdings | 759 |
| Portfolio Turnover Rate | 821% |
| Total Net Advisory Fees Paid During the Reporting Period | $243 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.6% |
| Corporate Bonds & Notes | 21.2% |
| Sovereign Issues | 14.0% |
| U.S. Treasury Obligations | 9.7% |
| Asset-Backed Securities | 8.8% |
| Non-Agency Mortgage-Backed Securities | 2.1% |
| Loan Participations and Assignments | 0.4% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 23.9% |
| Affiliated Investments | 24.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (49.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: ATMAX
![Image](g112232g01x08.jpg)

# PIMCO Low Duration Opportunities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS6001TSRAR_033126

# Class C: ATMCX

# PIMCO Low Duration Opportunities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Low Duration Opportunities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $175 | 1.71% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to U.S. duration in the short and intermediate portions and short exposure to U.S. duration in the long end of the U.S. yield curve contributed to performance, as interest rates fell across the short and intermediate portions and rose in the long end of the U.S. yield curve.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Short exposure to the Swiss Franc detracted from performance, as the Swiss Franc appreciated versus the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g22x17.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Aggregate 1-3 Years Index** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10133 | $10038 | $10014 |
| **5/31/16** | $10165 | $10041 | $10008 |
| **6/30/16** | $10076 | $10221 | $10068 |
| **7/31/16** | $10157 | $10286 | $10070 |
| **8/31/16** | $10199 | $10274 | $10059 |
| **9/30/16** | $10333 | $10268 | $10071 |
| **10/31/16** | $10397 | $10190 | $10068 |
| **11/30/16** | $10238 | $9949 | $10027 |
| **12/31/16** | $10416 | $9963 | $10033 |
| **1/31/17** | $10560 | $9982 | $10052 |
| **2/28/17** | $10663 | $10049 | $10068 |
| **3/31/17** | $10727 | $10044 | $10074 |
| **4/30/17** | $10822 | $10122 | $10093 |
| **5/31/17** | $10878 | $10199 | $10110 |
| **6/30/17** | $10906 | $10189 | $10106 |
| **7/31/17** | $10951 | $10233 | $10132 |
| **8/31/17** | $11017 | $10325 | $10153 |
| **9/30/17** | $11064 | $10276 | $10140 |
| **10/31/17** | $11069 | $10282 | $10138 |
| **11/30/17** | $11117 | $10268 | $10117 |
| **12/31/17** | $11107 | $10316 | $10120 |
| **1/31/18** | $11202 | $10197 | $10093 |
| **2/28/18** | $11243 | $10100 | $10083 |
| **3/31/18** | $11264 | $10165 | $10099 |
| **4/30/18** | $11283 | $10089 | $10089 |
| **5/31/18** | $11319 | $10161 | $10127 |
| **6/30/18** | $11324 | $10149 | $10128 |
| **7/31/18** | $11368 | $10151 | $10134 |
| **8/31/18** | $11358 | $10216 | $10169 |
| **9/30/18** | $11346 | $10151 | $10162 |
| **10/31/18** | $11370 | $10070 | $10173 |
| **11/30/18** | $11353 | $10131 | $10203 |
| **12/31/18** | $11372 | $10317 | $10282 |
| **1/31/19** | $11487 | $10426 | $10323 |
| **2/28/19** | $11531 | $10420 | $10339 |
| **3/31/19** | $11571 | $10620 | $10407 |
| **4/30/19** | $11634 | $10623 | $10430 |
| **5/31/19** | $11646 | $10812 | $10504 |
| **6/30/19** | $11687 | $10947 | $10562 |
| **7/31/19** | $11673 | $10971 | $10558 |
| **8/31/19** | $11559 | $11256 | $10641 |
| **9/30/19** | $11565 | $11196 | $10636 |
| **10/31/19** | $11646 | $11230 | $10672 |
| **11/30/19** | $11696 | $11224 | $10673 |
| **12/31/19** | $11829 | $11216 | $10697 |
| **1/31/20** | $11810 | $11432 | $10757 |
| **2/29/20** | $11790 | $11638 | $10845 |
| **3/31/20** | $11346 | $11569 | $10889 |
| **4/30/20** | $11528 | $11775 | $10948 |
| **5/31/20** | $11680 | $11830 | $10969 |
| **6/30/20** | $11825 | $11904 | $10984 |
| **7/31/20** | $11892 | $12082 | $11001 |
| **8/31/20** | $11949 | $11984 | $11003 |
| **9/30/20** | $11962 | $11978 | $11002 |
| **10/31/20** | $12009 | $11924 | $11001 |
| **11/30/20** | $12122 | $12041 | $11012 |
| **12/31/20** | $12199 | $12058 | $11027 |
| **1/31/21** | $12221 | $11971 | $11031 |
| **2/28/21** | $12223 | $11799 | $11024 |
| **3/31/21** | $12192 | $11651 | $11018 |
| **4/30/21** | $12215 | $11743 | $11027 |
| **5/31/21** | $12238 | $11782 | $11040 |
| **6/30/21** | $12205 | $11864 | $11024 |
| **7/31/21** | $12228 | $11997 | $11043 |
| **8/31/21** | $12216 | $11974 | $11043 |
| **9/30/21** | $12183 | $11871 | $11034 |
| **10/31/21** | $12072 | $11867 | $10998 |
| **11/30/21** | $12083 | $11902 | $10989 |
| **12/31/21** | $12105 | $11872 | $10972 |
| **1/31/22** | $12028 | $11616 | $10894 |
| **2/28/22** | $11939 | $11487 | $10845 |
| **3/31/22** | $11717 | $11168 | $10697 |
| **4/30/22** | $11506 | $10744 | $10638 |
| **5/31/22** | $11539 | $10813 | $10703 |
| **6/30/22** | $11339 | $10643 | $10629 |
| **7/31/22** | $11518 | $10903 | $10686 |
| **8/31/22** | $11307 | $10595 | $10600 |
| **9/30/22** | $11063 | $10138 | $10470 |
| **10/31/22** | $11066 | $10006 | $10456 |
| **11/30/22** | $11223 | $10374 | $10543 |
| **12/31/22** | $11245 | $10327 | $10564 |
| **1/31/23** | $11413 | $10645 | $10650 |
| **2/28/23** | $11321 | $10370 | $10570 |
| **3/31/23** | $11400 | $10633 | $10723 |
| **4/30/23** | $11433 | $10698 | $10760 |
| **5/31/23** | $11416 | $10581 | $10728 |
| **6/30/23** | $11432 | $10544 | $10685 |
| **7/31/23** | $11523 | $10536 | $10730 |
| **8/31/23** | $11536 | $10469 | $10770 |
| **9/30/23** | $11458 | $10203 | $10763 |
| **10/31/23** | $11388 | $10042 | $10798 |
| **11/30/23** | $11697 | $10497 | $10923 |
| **12/31/23** | $11892 | $10898 | $11055 |
| **1/31/24** | $11941 | $10868 | $11099 |
| **2/29/24** | $11932 | $10715 | $11060 |
| **3/31/24** | $11999 | $10814 | $11105 |
| **4/30/24** | $11976 | $10541 | $11067 |
| **5/31/24** | $12082 | $10719 | $11148 |
| **6/30/24** | $12115 | $10821 | $11210 |
| **7/31/24** | $12253 | $11074 | $11343 |
| **8/31/24** | $12288 | $11233 | $11447 |
| **9/30/24** | $12413 | $11383 | $11542 |
| **10/31/24** | $12348 | $11101 | $11475 |
| **11/30/24** | $12478 | $11218 | $11514 |
| **12/31/24** | $12500 | $11035 | $11540 |
| **1/31/25** | $12616 | $11093 | $11592 |
| **2/28/25** | $12692 | $11337 | $11674 |
| **3/31/25** | $12739 | $11342 | $11728 |
| **4/30/25** | $12693 | $11386 | $11815 |
| **5/31/25** | $12732 | $11305 | $11801 |
| **6/30/25** | $12876 | $11478 | $11877 |
| **7/31/25** | $12905 | $11448 | $11875 |
| **8/31/25** | $13045 | $11585 | $11980 |
| **9/30/25** | $13132 | $11711 | $12019 |
| **10/31/25** | $13224 | $11785 | $12061 |
| **11/30/25** | $13272 | $11858 | $12117 |
| **12/31/25** | $13359 | $11840 | $12162 |
| **1/31/26** | $13439 | $11853 | $12189 |
| **2/28/26** | $13448 | $12047 | $12253 |
| **3/31/26** | $13314 | $11835 | $12201 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 4.52% | 1.78% | 2.90% |
| Class C (including sales charge) | 3.52% | 1.78% | 2.90% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Aggregate 1-3 Years Index | 4.03% | 2.06% | 2.01% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $110906 |
| # of Portfolio Holdings | 759 |
| Portfolio Turnover Rate | 821% |
| Total Net Advisory Fees Paid During the Reporting Period | $243 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.6% |
| Corporate Bonds & Notes | 21.2% |
| Sovereign Issues | 14.0% |
| U.S. Treasury Obligations | 9.7% |
| Asset-Backed Securities | 8.8% |
| Non-Agency Mortgage-Backed Securities | 2.1% |
| Loan Participations and Assignments | 0.4% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 23.9% |
| Affiliated Investments | 24.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (49.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: ATMCX
![Image](g112232g01x08.jpg)

# PIMCO Low Duration Opportunities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS6201TSRAR_033126

# Institutional Class: PUTIX

# PIMCO Low Duration Opportunities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Low Duration Opportunities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $58 | 0.56% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to U.S. duration in the short and intermediate portions and short exposure to U.S. duration in the long end of the U.S. yield curve contributed to performance, as interest rates fell across the short and intermediate portions and rose in the long end of the U.S. yield curve.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Short exposure to the Swiss Franc detracted from performance, as the Swiss Franc appreciated versus the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g78b13.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Aggregate 1-3 Years Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1014307 | $1003838 | $1001415 |
| **5/31/16** | $1018491 | $1004096 | $1000773 |
| **6/30/16** | $1010493 | $1022137 | $1006778 |
| **7/31/16** | $1019654 | $1028599 | $1006956 |
| **8/31/16** | $1024833 | $1027423 | $1005923 |
| **9/30/16** | $1039326 | $1026821 | $1007091 |
| **10/31/16** | $1046692 | $1018967 | $1006775 |
| **11/30/16** | $1031712 | $994865 | $1002700 |
| **12/31/16** | $1050743 | $996268 | $1003301 |
| **1/31/17** | $1066219 | $998223 | $1005183 |
| **2/28/17** | $1077584 | $1004932 | $1006804 |
| **3/31/17** | $1085167 | $1004405 | $1007407 |
| **4/30/17** | $1095731 | $1012156 | $1009269 |
| **5/31/17** | $1102457 | $1019947 | $1010999 |
| **6/30/17** | $1106379 | $1018920 | $1010580 |
| **7/31/17** | $1111938 | $1023305 | $1013194 |
| **8/31/17** | $1119742 | $1032484 | $1015258 |
| **9/30/17** | $1125644 | $1027566 | $1014024 |
| **10/31/17** | $1127219 | $1028161 | $1013790 |
| **11/30/17** | $1133184 | $1026841 | $1011652 |
| **12/31/17** | $1133297 | $1031554 | $1011978 |
| **1/31/18** | $1144074 | $1019674 | $1009260 |
| **2/28/18** | $1149278 | $1010008 | $1008303 |
| **3/31/18** | $1152574 | $1016485 | $1009909 |
| **4/30/18** | $1155539 | $1008925 | $1008868 |
| **5/31/18** | $1160340 | $1016126 | $1012665 |
| **6/30/18** | $1161951 | $1014876 | $1012787 |
| **7/31/18** | $1167641 | $1015117 | $1013355 |
| **8/31/18** | $1167847 | $1021649 | $1016932 |
| **9/30/18** | $1167547 | $1015070 | $1016212 |
| **10/31/18** | $1171163 | $1007049 | $1017286 |
| **11/30/18** | $1170586 | $1013060 | $1020275 |
| **12/31/18** | $1173676 | $1031671 | $1028205 |
| **1/31/19** | $1186627 | $1042627 | $1032285 |
| **2/28/19** | $1192279 | $1042023 | $1033902 |
| **3/31/19** | $1197546 | $1062032 | $1040710 |
| **4/30/19** | $1205229 | $1062304 | $1043048 |
| **5/31/19** | $1207666 | $1081161 | $1050371 |
| **6/30/19** | $1212950 | $1094739 | $1056178 |
| **7/31/19** | $1212676 | $1097147 | $1055823 |
| **8/31/19** | $1202135 | $1125576 | $1064109 |
| **9/30/19** | $1203793 | $1119581 | $1063630 |
| **10/31/19** | $1213442 | $1122953 | $1067247 |
| **11/30/19** | $1219762 | $1122381 | $1067251 |
| **12/31/19** | $1234884 | $1121599 | $1069718 |
| **1/31/20** | $1234113 | $1143184 | $1075749 |
| **2/29/20** | $1233143 | $1163759 | $1084508 |
| **3/31/20** | $1187759 | $1156911 | $1088864 |
| **4/30/20** | $1207958 | $1177476 | $1094821 |
| **5/31/20** | $1225061 | $1182959 | $1096895 |
| **6/30/20** | $1241427 | $1190410 | $1098436 |
| **7/31/20** | $1249780 | $1208191 | $1100087 |
| **8/31/20** | $1256940 | $1198439 | $1100259 |
| **9/30/20** | $1259518 | $1197782 | $1100183 |
| **10/31/20** | $1265718 | $1192434 | $1100140 |
| **11/30/20** | $1278842 | $1204134 | $1101224 |
| **12/31/20** | $1288249 | $1205794 | $1102659 |
| **1/31/21** | $1291806 | $1197148 | $1103091 |
| **2/28/21** | $1293170 | $1179861 | $1102393 |
| **3/31/21** | $1291049 | $1165128 | $1101834 |
| **4/30/21** | $1294844 | $1174333 | $1102723 |
| **5/31/21** | $1298446 | $1178169 | $1104043 |
| **6/30/21** | $1296205 | $1186447 | $1102392 |
| **7/31/21** | $1299705 | $1199713 | $1104303 |
| **8/31/21** | $1299547 | $1197429 | $1104314 |
| **9/30/21** | $1297151 | $1187061 | $1103393 |
| **10/31/21** | $1286495 | $1186734 | $1099795 |
| **11/30/21** | $1288774 | $1190245 | $1098877 |
| **12/31/21** | $1293731 | $1187200 | $1097219 |
| **1/31/22** | $1286326 | $1161622 | $1089360 |
| **2/28/22** | $1276742 | $1148663 | $1084485 |
| **3/31/22** | $1254148 | $1116751 | $1069745 |
| **4/30/22** | $1232817 | $1074373 | $1063794 |
| **5/31/22** | $1237752 | $1081300 | $1070325 |
| **6/30/22** | $1217901 | $1064336 | $1062928 |
| **7/31/22** | $1238988 | $1090343 | $1068585 |
| **8/31/22** | $1217515 | $1059533 | $1060014 |
| **9/30/22** | $1192538 | $1013755 | $1046976 |
| **10/31/22** | $1193935 | $1000624 | $1045623 |
| **11/30/22** | $1212021 | $1037423 | $1054280 |
| **12/31/22** | $1215602 | $1032743 | $1056362 |
| **1/31/23** | $1234925 | $1064515 | $1064974 |
| **2/28/23** | $1226083 | $1036991 | $1057022 |
| **3/31/23** | $1235838 | $1063333 | $1072334 |
| **4/30/23** | $1240559 | $1069778 | $1076012 |
| **5/31/23** | $1239897 | $1058130 | $1072768 |
| **6/30/23** | $1242862 | $1054356 | $1068468 |
| **7/31/23** | $1253949 | $1053621 | $1073029 |
| **8/31/23** | $1256609 | $1046891 | $1076982 |
| **9/30/23** | $1249265 | $1020288 | $1076335 |
| **10/31/23** | $1242886 | $1004186 | $1079782 |
| **11/30/23** | $1277805 | $1049662 | $1092339 |
| **12/31/23** | $1300348 | $1089842 | $1105470 |
| **1/31/24** | $1306933 | $1086849 | $1109856 |
| **2/29/24** | $1307157 | $1071494 | $1106002 |
| **3/31/24** | $1315754 | $1081388 | $1110497 |
| **4/30/24** | $1314451 | $1054074 | $1106736 |
| **5/31/24** | $1327528 | $1071944 | $1114807 |
| **6/30/24** | $1332261 | $1082092 | $1121042 |
| **7/31/24** | $1348811 | $1107367 | $1134341 |
| **8/31/24** | $1354047 | $1123279 | $1144682 |
| **9/30/24** | $1368943 | $1138319 | $1154176 |
| **10/31/24** | $1363174 | $1110090 | $1147540 |
| **11/30/24** | $1378883 | $1121827 | $1151425 |
| **12/31/24** | $1382663 | $1103468 | $1153973 |
| **1/31/25** | $1396855 | $1109322 | $1159222 |
| **2/28/25** | $1406564 | $1133729 | $1167423 |
| **3/31/25** | $1412982 | $1134155 | $1172780 |
| **4/30/25** | $1409246 | $1138613 | $1181503 |
| **5/31/25** | $1414930 | $1130460 | $1180087 |
| **6/30/25** | $1432324 | $1147843 | $1187691 |
| **7/31/25** | $1436929 | $1144815 | $1187515 |
| **8/31/25** | $1453937 | $1158507 | $1197966 |
| **9/30/25** | $1464958 | $1171145 | $1201939 |
| **10/31/25** | $1476754 | $1178462 | $1206090 |
| **11/30/25** | $1483419 | $1185785 | $1211695 |
| **12/31/25** | $1494664 | $1184031 | $1216157 |
| **1/31/26** | $1505122 | $1185295 | $1218949 |
| **2/28/26** | $1507464 | $1204706 | $1225312 |
| **3/31/26** | $1493834 | $1183475 | $1220088 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 5.72% | 2.96% | 4.10% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Aggregate 1-3 Years Index | 4.03% | 2.06% | 2.01% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $110906 |
| # of Portfolio Holdings | 759 |
| Portfolio Turnover Rate | 821% |
| Total Net Advisory Fees Paid During the Reporting Period | $243 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.6% |
| Corporate Bonds & Notes | 21.2% |
| Sovereign Issues | 14.0% |
| U.S. Treasury Obligations | 9.7% |
| Asset-Backed Securities | 8.8% |
| Non-Agency Mortgage-Backed Securities | 2.1% |
| Loan Participations and Assignments | 0.4% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 23.9% |
| Affiliated Investments | 24.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (49.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PUTIX
![Image](g112232g01x08.jpg)

# PIMCO Low Duration Opportunities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1942TSRAR_033126

# I-2: PUTPX

# PIMCO Low Duration Opportunities Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Low Duration Opportunities Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $68 | 0.66% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to the U.S. cash rate contributed to performance, as the 3-month Secured Overnight Financing Rate remained elevated.

* Holdings of agency mortgage-backed securities contributed to performance, as this sector posted positive total returns.

* Long exposure to U.S. duration in the short and intermediate portions and short exposure to U.S. duration in the long end of the U.S. yield curve contributed to performance, as interest rates fell across the short and intermediate portions and rose in the long end of the U.S. yield curve.

* Long exposure to Australian duration detracted from performance, as interest rates rose across the intermediate portion of the Australian yield curve.

* Short exposure to the New Taiwan dollar detracted from performance, as the New Taiwan dollar appreciated versus the U.S. dollar.

* Short exposure to the Swiss Franc detracted from performance, as the Swiss Franc appreciated versus the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g71f60.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Aggregate 1-3 Years Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1014222 | $1003838 | $1001415 |
| **5/31/16** | $1018322 | $1004096 | $1000773 |
| **6/30/16** | $1010243 | $1022137 | $1006778 |
| **7/31/16** | $1019316 | $1028599 | $1006956 |
| **8/31/16** | $1024406 | $1027423 | $1005923 |
| **9/30/16** | $1038783 | $1026821 | $1007091 |
| **10/31/16** | $1046061 | $1018967 | $1006775 |
| **11/30/16** | $1031006 | $994865 | $1002700 |
| **12/31/16** | $1049926 | $996268 | $1003301 |
| **1/31/17** | $1065305 | $998223 | $1005183 |
| **2/28/17** | $1076578 | $1004932 | $1006804 |
| **3/31/17** | $1084057 | $1004405 | $1007407 |
| **4/30/17** | $1094526 | $1012156 | $1009269 |
| **5/31/17** | $1101151 | $1019947 | $1010999 |
| **6/30/17** | $1104972 | $1018920 | $1010580 |
| **7/31/17** | $1110436 | $1023305 | $1013194 |
| **8/31/17** | $1118137 | $1032484 | $1015258 |
| **9/30/17** | $1123932 | $1027566 | $1014024 |
| **10/31/17** | $1125413 | $1028161 | $1013790 |
| **11/30/17** | $1131296 | $1026841 | $1011652 |
| **12/31/17** | $1131309 | $1031554 | $1011978 |
| **1/31/18** | $1141975 | $1019674 | $1009260 |
| **2/28/18** | $1147087 | $1010008 | $1008303 |
| **3/31/18** | $1150274 | $1016485 | $1009909 |
| **4/30/18** | $1153141 | $1008925 | $1008868 |
| **5/31/18** | $1157836 | $1016126 | $1012665 |
| **6/30/18** | $1159347 | $1014876 | $1012787 |
| **7/31/18** | $1164928 | $1015117 | $1013355 |
| **8/31/18** | $1165028 | $1021649 | $1016932 |
| **9/30/18** | $1164645 | $1015070 | $1016212 |
| **10/31/18** | $1168154 | $1007049 | $1017286 |
| **11/30/18** | $1167473 | $1013060 | $1020275 |
| **12/31/18** | $1170459 | $1031671 | $1028205 |
| **1/31/19** | $1183278 | $1042627 | $1032285 |
| **2/28/19** | $1188823 | $1042023 | $1033902 |
| **3/31/19** | $1193974 | $1062032 | $1040710 |
| **4/30/19** | $1201545 | $1062304 | $1043048 |
| **5/31/19** | $1203865 | $1081161 | $1050371 |
| **6/30/19** | $1209144 | $1094739 | $1056178 |
| **7/31/19** | $1208758 | $1097147 | $1055823 |
| **8/31/19** | $1198144 | $1125576 | $1064109 |
| **9/30/19** | $1199706 | $1119581 | $1063630 |
| **10/31/19** | $1209220 | $1122953 | $1067247 |
| **11/30/19** | $1215411 | $1122381 | $1067251 |
| **12/31/19** | $1230376 | $1121599 | $1069718 |
| **1/31/20** | $1229500 | $1143184 | $1075749 |
| **2/29/20** | $1228438 | $1163759 | $1084508 |
| **3/31/20** | $1183130 | $1156911 | $1088864 |
| **4/30/20** | $1203149 | $1177476 | $1094821 |
| **5/31/20** | $1220077 | $1182959 | $1096895 |
| **6/30/20** | $1236277 | $1190410 | $1098436 |
| **7/31/20** | $1244481 | $1208191 | $1100087 |
| **8/31/20** | $1251515 | $1198439 | $1100259 |
| **9/30/20** | $1253978 | $1197782 | $1100183 |
| **10/31/20** | $1260041 | $1192434 | $1100140 |
| **11/30/20** | $1273004 | $1204134 | $1101224 |
| **12/31/20** | $1282249 | $1205794 | $1102659 |
| **1/31/21** | $1285692 | $1197148 | $1103091 |
| **2/28/21** | $1286953 | $1179861 | $1102393 |
| **3/31/21** | $1284732 | $1165128 | $1101834 |
| **4/30/21** | $1288394 | $1174333 | $1102723 |
| **5/31/21** | $1291875 | $1178169 | $1104043 |
| **6/30/21** | $1289539 | $1186447 | $1102392 |
| **7/31/21** | $1292907 | $1199713 | $1104303 |
| **8/31/21** | $1292642 | $1197429 | $1104314 |
| **9/30/21** | $1290154 | $1187061 | $1103393 |
| **10/31/21** | $1279444 | $1186734 | $1099795 |
| **11/30/21** | $1281612 | $1190245 | $1098877 |
| **12/31/21** | $1286425 | $1187200 | $1097219 |
| **1/31/22** | $1278958 | $1161622 | $1089360 |
| **2/28/22** | $1269324 | $1148663 | $1084485 |
| **3/31/22** | $1246754 | $1116751 | $1069745 |
| **4/30/22** | $1225444 | $1074373 | $1063794 |
| **5/31/22** | $1230249 | $1081300 | $1070325 |
| **6/30/22** | $1210420 | $1064336 | $1062928 |
| **7/31/22** | $1231273 | $1090343 | $1068585 |
| **8/31/22** | $1209826 | $1059533 | $1060014 |
| **9/30/22** | $1184900 | $1013755 | $1046976 |
| **10/31/22** | $1186196 | $1000624 | $1045623 |
| **11/30/22** | $1204064 | $1037423 | $1054280 |
| **12/31/22** | $1207514 | $1032743 | $1056362 |
| **1/31/23** | $1226613 | $1064515 | $1064974 |
| **2/28/23** | $1217736 | $1036991 | $1057022 |
| **3/31/23** | $1227314 | $1063333 | $1072334 |
| **4/30/23** | $1231909 | $1069778 | $1076012 |
| **5/31/23** | $1231148 | $1058130 | $1072768 |
| **6/30/23** | $1233984 | $1054356 | $1068468 |
| **7/31/23** | $1244894 | $1053621 | $1073029 |
| **8/31/23** | $1247430 | $1046891 | $1076982 |
| **9/30/23** | $1240035 | $1020288 | $1076335 |
| **10/31/23** | $1233606 | $1004186 | $1079782 |
| **11/30/23** | $1268161 | $1049662 | $1092339 |
| **12/31/23** | $1290423 | $1089842 | $1105470 |
| **1/31/24** | $1296853 | $1086849 | $1109856 |
| **2/29/24** | $1296974 | $1071494 | $1106002 |
| **3/31/24** | $1305393 | $1081388 | $1110497 |
| **4/30/24** | $1304010 | $1054074 | $1106736 |
| **5/31/24** | $1316866 | $1071944 | $1114807 |
| **6/30/24** | $1321461 | $1082092 | $1121042 |
| **7/31/24** | $1337764 | $1107367 | $1134341 |
| **8/31/24** | $1342836 | $1123279 | $1144682 |
| **9/30/24** | $1357505 | $1138319 | $1154176 |
| **10/31/24** | $1351670 | $1110090 | $1147540 |
| **11/30/24** | $1367130 | $1121827 | $1151425 |
| **12/31/24** | $1370765 | $1103468 | $1153973 |
| **1/31/25** | $1384758 | $1109322 | $1159222 |
| **2/28/25** | $1394276 | $1133729 | $1167423 |
| **3/31/25** | $1400527 | $1134155 | $1172780 |
| **4/30/25** | $1396708 | $1138613 | $1181503 |
| **5/31/25** | $1402220 | $1130460 | $1180087 |
| **6/30/25** | $1419346 | $1147843 | $1187691 |
| **7/31/25** | $1423788 | $1144815 | $1187515 |
| **8/31/25** | $1440516 | $1158507 | $1197966 |
| **9/30/25** | $1451321 | $1171145 | $1201939 |
| **10/31/25** | $1462876 | $1178462 | $1206090 |
| **11/30/25** | $1469365 | $1185785 | $1211695 |
| **12/31/25** | $1480377 | $1184031 | $1216157 |
| **1/31/26** | $1490607 | $1185295 | $1218949 |
| **2/28/26** | $1492813 | $1204706 | $1225312 |
| **3/31/26** | $1479194 | $1183475 | $1220088 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 5.62% | 2.86% | 3.99% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Aggregate 1-3 Years Index | 4.03% | 2.06% | 2.01% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $110906 |
| # of Portfolio Holdings | 759 |
| Portfolio Turnover Rate | 821% |
| Total Net Advisory Fees Paid During the Reporting Period | $243 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.6% |
| Corporate Bonds & Notes | 21.2% |
| Sovereign Issues | 14.0% |
| U.S. Treasury Obligations | 9.7% |
| Asset-Backed Securities | 8.8% |
| Non-Agency Mortgage-Backed Securities | 2.1% |
| Loan Participations and Assignments | 0.4% |
| Municipal Bonds & Notes | 0.2% |
| Other Investments | 0.1% |
| Short-Term Instruments | 23.9% |
| Affiliated Investments | 24.3% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (49.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PUTPX
![Image](g112232g01x08.jpg)

# PIMCO Low Duration Opportunities Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1955TSRAR_033126

# Institutional Class: PMDRX

# PIMCO Moderate Duration Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Moderate Duration Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $72 | 0.70% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to agency mortgage-backed securities ("MBS") contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as spreads tightened.

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including non-agency residential MBS, contributed to relative performance versus the Index, as spreads tightened.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Short exposure to select developed market currencies within the dollar bloc, including the Australian dollar and the Canadian dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g55f92.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Intermediate Government/Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1003670 | $1003838 | $1002655 |
| **5/31/16** | $1004916 | $1004096 | $1001505 |
| **6/30/16** | $1013994 | $1022137 | $1015852 |
| **7/31/16** | $1020955 | $1028599 | $1018729 |
| **8/31/16** | $1017798 | $1027423 | $1016115 |
| **9/30/16** | $1022035 | $1026821 | $1017472 |
| **10/31/16** | $1020394 | $1018967 | $1013269 |
| **11/30/16** | $1002195 | $994865 | $995739 |
| **12/31/16** | $1007899 | $996268 | $996441 |
| **1/31/17** | $1015016 | $998223 | $999134 |
| **2/28/17** | $1020455 | $1004932 | $1003775 |
| **3/31/17** | $1022328 | $1004405 | $1004228 |
| **4/30/17** | $1027879 | $1012156 | $1010476 |
| **5/31/17** | $1032550 | $1019947 | $1015518 |
| **6/30/17** | $1033136 | $1018920 | $1013692 |
| **7/31/17** | $1039509 | $1023305 | $1018382 |
| **8/31/17** | $1047068 | $1032484 | $1024411 |
| **9/30/17** | $1045554 | $1027566 | $1019789 |
| **10/31/17** | $1042950 | $1028161 | $1019705 |
| **11/30/17** | $1038451 | $1026841 | $1016573 |
| **12/31/17** | $1040920 | $1031554 | $1017739 |
| **1/31/18** | $1034128 | $1019674 | $1008782 |
| **2/28/18** | $1031567 | $1010008 | $1004144 |
| **3/31/18** | $1034383 | $1016485 | $1007756 |
| **4/30/18** | $1027083 | $1008925 | $1002491 |
| **5/31/18** | $1030245 | $1016126 | $1008481 |
| **6/30/18** | $1029501 | $1014876 | $1007818 |
| **7/31/18** | $1032619 | $1015117 | $1008083 |
| **8/31/18** | $1036030 | $1021649 | $1014047 |
| **9/30/18** | $1032699 | $1015070 | $1009971 |
| **10/31/18** | $1035863 | $1007049 | $1008584 |
| **11/30/18** | $1038499 | $1013060 | $1013136 |
| **12/31/18** | $1046720 | $1031671 | $1026675 |
| **1/31/19** | $1057577 | $1042627 | $1035585 |
| **2/28/19** | $1060041 | $1042023 | $1036473 |
| **3/31/19** | $1070023 | $1062032 | $1050500 |
| **4/30/19** | $1073518 | $1062304 | $1052520 |
| **5/31/19** | $1088002 | $1081161 | $1066257 |
| **6/30/19** | $1098259 | $1094739 | $1077680 |
| **7/31/19** | $1095778 | $1097147 | $1077312 |
| **8/31/19** | $1116340 | $1125576 | $1096413 |
| **9/30/19** | $1113384 | $1119581 | $1092438 |
| **10/31/19** | $1117721 | $1122953 | $1096770 |
| **11/30/19** | $1112729 | $1122381 | $1095132 |
| **12/31/19** | $1113312 | $1121599 | $1096508 |
| **1/31/20** | $1132653 | $1143184 | $1112072 |
| **2/29/20** | $1144322 | $1163759 | $1127770 |
| **3/31/20** | $1135796 | $1156911 | $1122825 |
| **4/30/20** | $1154246 | $1177476 | $1138632 |
| **5/31/20** | $1169157 | $1182959 | $1147291 |
| **6/30/20** | $1179732 | $1190410 | $1154367 |
| **7/31/20** | $1188188 | $1208191 | $1162985 |
| **8/31/20** | $1193011 | $1198439 | $1161608 |
| **9/30/20** | $1192410 | $1197782 | $1161464 |
| **10/31/20** | $1190868 | $1192434 | $1158918 |
| **11/30/20** | $1198845 | $1204134 | $1164662 |
| **12/31/20** | $1201988 | $1205794 | $1167058 |
| **1/31/21** | $1201069 | $1197148 | $1163821 |
| **2/28/21** | $1193248 | $1179861 | $1154309 |
| **3/31/21** | $1183192 | $1165128 | $1145348 |
| **4/30/21** | $1190393 | $1174333 | $1151022 |
| **5/31/21** | $1193751 | $1178169 | $1155643 |
| **6/30/21** | $1194868 | $1186447 | $1156583 |
| **7/31/21** | $1202944 | $1199713 | $1165436 |
| **8/31/21** | $1200644 | $1197429 | $1163545 |
| **9/30/21** | $1195077 | $1187061 | $1156855 |
| **10/31/21** | $1187383 | $1186734 | $1150397 |
| **11/30/21** | $1186519 | $1190245 | $1151729 |
| **12/31/21** | $1186846 | $1187200 | $1150249 |
| **1/31/22** | $1172221 | $1161622 | $1133374 |
| **2/28/22** | $1165511 | $1148663 | $1125937 |
| **3/31/22** | $1131209 | $1116751 | $1098383 |
| **4/30/22** | $1109629 | $1074373 | $1076426 |
| **5/31/22** | $1118075 | $1081300 | $1084438 |
| **6/30/22** | $1101434 | $1064336 | $1072380 |
| **7/31/22** | $1117300 | $1090343 | $1089889 |
| **8/31/22** | $1098667 | $1059533 | $1068093 |
| **9/30/22** | $1068683 | $1013755 | $1039538 |
| **10/31/22** | $1059631 | $1000624 | $1034963 |
| **11/30/22** | $1083457 | $1037423 | $1057438 |
| **12/31/22** | $1083656 | $1032743 | $1055528 |
| **1/31/23** | $1106701 | $1064515 | $1075224 |
| **2/28/23** | $1088424 | $1036991 | $1055910 |
| **3/31/23** | $1108056 | $1063333 | $1080144 |
| **4/30/23** | $1115276 | $1069778 | $1086737 |
| **5/31/23** | $1107338 | $1058130 | $1078692 |
| **6/30/23** | $1099538 | $1054356 | $1071359 |
| **7/31/23** | $1105726 | $1053621 | $1074165 |
| **8/31/23** | $1106166 | $1046891 | $1074010 |
| **9/30/23** | $1094340 | $1020288 | $1062440 |
| **10/31/23** | $1088504 | $1004186 | $1057519 |
| **11/30/23** | $1119710 | $1049662 | $1085704 |
| **12/31/23** | $1147280 | $1089842 | $1110876 |
| **1/31/24** | $1151267 | $1086849 | $1113197 |
| **2/29/24** | $1141515 | $1071494 | $1102135 |
| **3/31/24** | $1149852 | $1081388 | $1109208 |
| **4/30/24** | $1132682 | $1054074 | $1094242 |
| **5/31/24** | $1148780 | $1071944 | $1107442 |
| **6/30/24** | $1156488 | $1082092 | $1116274 |
| **7/31/24** | $1179804 | $1107367 | $1137255 |
| **8/31/24** | $1191830 | $1123279 | $1150345 |
| **9/30/24** | $1205848 | $1138319 | $1162822 |
| **10/31/24** | $1184434 | $1110090 | $1144217 |
| **11/30/24** | $1195220 | $1121827 | $1151349 |
| **12/31/24** | $1188802 | $1103468 | $1144202 |
| **1/31/25** | $1197234 | $1109322 | $1150729 |
| **2/28/25** | $1216832 | $1133729 | $1166766 |
| **3/31/25** | $1225241 | $1134155 | $1171915 |
| **4/30/25** | $1233856 | $1138613 | $1182785 |
| **5/31/25** | $1229468 | $1130460 | $1178922 |
| **6/30/25** | $1245864 | $1147843 | $1191500 |
| **7/31/25** | $1245295 | $1144815 | $1189851 |
| **8/31/25** | $1264806 | $1158507 | $1204371 |
| **9/30/25** | $1270619 | $1171145 | $1209454 |
| **10/31/25** | $1279776 | $1178462 | $1214633 |
| **11/30/25** | $1289443 | $1185785 | $1222824 |
| **12/31/25** | $1291993 | $1184031 | $1223908 |
| **1/31/26** | $1296001 | $1185295 | $1224835 |
| **2/28/26** | $1311197 | $1204706 | $1238695 |
| **3/31/26** | $1284554 | $1183475 | $1223610 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 4.84% | 1.66% | 2.54% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Intermediate Government/Credit Index | 4.41% | 1.33% | 2.04% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1761083 |
| # of Portfolio Holdings | 1334 |
| Portfolio Turnover Rate | 264% |
| Total Net Advisory Fees Paid During the Reporting Period | $4014 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 54.2% |
| U.S. Government Agencies | 21.5% |
| Corporate Bonds & Notes | 18.9% |
| Sovereign Issues | 8.7% |
| Asset-Backed Securities | 8.6% |
| Non-Agency Mortgage-Backed Securities | 4.6% |
| Loan Participations and Assignments | 0.4% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Affiliated Investments | 5.8% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (22.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.22% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PMDRX
![Image](g112232g01x08.jpg)

# PIMCO Moderate Duration Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0120TSRAR_033126

# I-2: PMOPX

# PIMCO Moderate Duration Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Moderate Duration Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $82 | 0.80% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to agency mortgage-backed securities ("MBS") contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as spreads tightened.

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including non-agency residential MBS, contributed to relative performance versus the Index, as spreads tightened.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Short exposure to select developed market currencies within the dollar bloc, including the Australian dollar and the Canadian dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g17m21.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **Bloomberg U.S. Intermediate Government/Credit Index** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1003585 | $1003838 | $1002655 |
| **5/31/16** | $1004749 | $1004096 | $1001505 |
| **6/30/16** | $1013742 | $1022137 | $1015852 |
| **7/31/16** | $1020616 | $1028599 | $1018729 |
| **8/31/16** | $1017373 | $1027423 | $1016115 |
| **9/30/16** | $1021519 | $1026821 | $1017472 |
| **10/31/16** | $1019798 | $1018967 | $1013269 |
| **11/30/16** | $1001527 | $994865 | $995739 |
| **12/31/16** | $1007136 | $996268 | $996441 |
| **1/31/17** | $1014167 | $998223 | $999134 |
| **2/28/17** | $1019524 | $1004932 | $1003775 |
| **3/31/17** | $1021303 | $1004405 | $1004228 |
| **4/30/17** | $1026770 | $1012156 | $1010476 |
| **5/31/17** | $1031349 | $1019947 | $1015518 |
| **6/30/17** | $1031842 | $1018920 | $1013692 |
| **7/31/17** | $1038125 | $1023305 | $1018382 |
| **8/31/17** | $1045585 | $1032484 | $1024411 |
| **9/30/17** | $1043985 | $1027566 | $1019789 |
| **10/31/17** | $1041299 | $1028161 | $1019705 |
| **11/30/17** | $1036721 | $1026841 | $1016573 |
| **12/31/17** | $1039096 | $1031554 | $1017739 |
| **1/31/18** | $1032230 | $1019674 | $1008782 |
| **2/28/18** | $1029595 | $1010008 | $1004144 |
| **3/31/18** | $1032315 | $1016485 | $1007756 |
| **4/30/18** | $1024949 | $1008925 | $1002491 |
| **5/31/18** | $1028018 | $1016126 | $1008481 |
| **6/30/18** | $1027187 | $1014876 | $1007818 |
| **7/31/18** | $1030214 | $1015117 | $1008083 |
| **8/31/18** | $1033522 | $1021649 | $1014047 |
| **9/30/18** | $1030123 | $1015070 | $1009971 |
| **10/31/18** | $1033192 | $1007049 | $1008584 |
| **11/30/18** | $1035703 | $1013060 | $1013136 |
| **12/31/18** | $1043844 | $1031671 | $1026675 |
| **1/31/19** | $1054586 | $1042627 | $1035585 |
| **2/28/19** | $1056962 | $1042023 | $1036473 |
| **3/31/19** | $1066825 | $1062032 | $1050500 |
| **4/30/19** | $1070223 | $1062304 | $1052520 |
| **5/31/19** | $1084569 | $1081161 | $1066257 |
| **6/30/19** | $1094711 | $1094739 | $1077680 |
| **7/31/19** | $1092145 | $1097147 | $1077312 |
| **8/31/19** | $1112539 | $1125576 | $1096413 |
| **9/30/19** | $1109509 | $1119581 | $1092438 |
| **10/31/19** | $1113738 | $1122953 | $1096770 |
| **11/30/19** | $1108670 | $1122381 | $1095132 |
| **12/31/19** | $1109142 | $1121599 | $1096508 |
| **1/31/20** | $1128310 | $1143184 | $1112072 |
| **2/29/20** | $1139849 | $1163759 | $1127770 |
| **3/31/20** | $1131266 | $1156911 | $1122825 |
| **4/30/20** | $1149548 | $1177476 | $1138632 |
| **5/31/20** | $1164314 | $1182959 | $1147291 |
| **6/30/20** | $1174749 | $1190410 | $1154367 |
| **7/31/20** | $1183062 | $1208191 | $1162985 |
| **8/31/20** | $1187763 | $1198439 | $1161608 |
| **9/30/20** | $1187067 | $1197782 | $1161464 |
| **10/31/20** | $1185428 | $1192434 | $1158918 |
| **11/30/20** | $1193276 | $1204134 | $1164662 |
| **12/31/20** | $1196293 | $1205794 | $1167058 |
| **1/31/21** | $1195285 | $1197148 | $1163821 |
| **2/28/21** | $1187404 | $1179861 | $1154309 |
| **3/31/21** | $1177298 | $1165128 | $1145348 |
| **4/30/21** | $1184359 | $1174333 | $1151022 |
| **5/31/21** | $1187608 | $1178169 | $1155643 |
| **6/30/21** | $1188622 | $1186447 | $1156583 |
| **7/31/21** | $1196550 | $1199713 | $1165436 |
| **8/31/21** | $1194164 | $1197429 | $1163545 |
| **9/30/21** | $1188537 | $1187061 | $1156855 |
| **10/31/21** | $1180782 | $1186734 | $1150397 |
| **11/30/21** | $1179826 | $1190245 | $1151729 |
| **12/31/21** | $1180045 | $1187200 | $1150249 |
| **1/31/22** | $1165411 | $1161622 | $1133374 |
| **2/28/22** | $1158652 | $1148663 | $1125937 |
| **3/31/22** | $1124455 | $1116751 | $1098383 |
| **4/30/22** | $1102906 | $1074373 | $1076426 |
| **5/31/22** | $1111211 | $1081300 | $1084438 |
| **6/30/22** | $1094582 | $1064336 | $1072380 |
| **7/31/22** | $1110256 | $1090343 | $1089889 |
| **8/31/22** | $1091647 | $1059533 | $1068093 |
| **9/30/22** | $1061762 | $1013755 | $1039538 |
| **10/31/22** | $1052685 | $1000624 | $1034963 |
| **11/30/22** | $1076274 | $1037423 | $1057438 |
| **12/31/22** | $1076376 | $1032743 | $1055528 |
| **1/31/23** | $1099182 | $1064515 | $1075224 |
| **2/28/23** | $1080946 | $1036991 | $1055910 |
| **3/31/23** | $1100346 | $1063333 | $1080144 |
| **4/30/23** | $1107432 | $1069778 | $1086737 |
| **5/31/23** | $1099455 | $1058130 | $1078692 |
| **6/30/23** | $1091615 | $1054356 | $1071359 |
| **7/31/23** | $1097669 | $1053621 | $1074165 |
| **8/31/23** | $1098014 | $1046891 | $1074010 |
| **9/30/23** | $1086183 | $1020288 | $1062440 |
| **10/31/23** | $1080302 | $1004186 | $1057519 |
| **11/30/23** | $1111183 | $1049662 | $1085704 |
| **12/31/23** | $1138445 | $1089842 | $1110876 |
| **1/31/24** | $1142307 | $1086849 | $1113197 |
| **2/29/24** | $1132541 | $1071494 | $1102135 |
| **3/31/24** | $1140717 | $1081388 | $1109208 |
| **4/30/24** | $1123592 | $1054074 | $1094242 |
| **5/31/24** | $1139458 | $1071944 | $1107442 |
| **6/30/24** | $1147015 | $1082092 | $1116274 |
| **7/31/24** | $1170042 | $1107367 | $1137255 |
| **8/31/24** | $1181863 | $1123279 | $1150345 |
| **9/30/24** | $1195672 | $1138319 | $1162822 |
| **10/31/24** | $1174339 | $1110090 | $1144217 |
| **11/30/24** | $1184942 | $1121827 | $1151349 |
| **12/31/24** | $1178479 | $1103468 | $1144202 |
| **1/31/25** | $1186735 | $1109322 | $1150729 |
| **2/28/25** | $1206070 | $1133729 | $1166766 |
| **3/31/25** | $1214310 | $1134155 | $1171915 |
| **4/30/25** | $1222749 | $1138613 | $1182785 |
| **5/31/25** | $1218296 | $1130460 | $1178922 |
| **6/30/25** | $1234446 | $1147843 | $1191500 |
| **7/31/25** | $1233778 | $1144815 | $1189851 |
| **8/31/25** | $1252997 | $1158507 | $1204371 |
| **9/30/25** | $1258657 | $1171145 | $1209454 |
| **10/31/25** | $1267613 | $1178462 | $1214633 |
| **11/30/25** | $1277091 | $1185785 | $1222824 |
| **12/31/25** | $1279506 | $1184031 | $1223908 |
| **1/31/26** | $1283367 | $1185295 | $1224835 |
| **2/28/26** | $1298316 | $1204706 | $1238695 |
| **3/31/26** | $1271831 | $1183475 | $1223610 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 4.74% | 1.56% | 2.43% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. Intermediate Government/Credit Index | 4.41% | 1.33% | 2.04% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1761083 |
| # of Portfolio Holdings | 1334 |
| Portfolio Turnover Rate | 264% |
| Total Net Advisory Fees Paid During the Reporting Period | $4014 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 54.2% |
| U.S. Government Agencies | 21.5% |
| Corporate Bonds & Notes | 18.9% |
| Sovereign Issues | 8.7% |
| Asset-Backed Securities | 8.6% |
| Non-Agency Mortgage-Backed Securities | 4.6% |
| Loan Participations and Assignments | 0.4% |
| Other Investments | 0.0%<sup>Footnote Reference^</sup> |
| Short-Term Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Affiliated Investments | 5.8% |
| Financial Derivative Instruments | 0.0%<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (22.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.22% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PMOPX
![Image](g112232g01x08.jpg)

# PIMCO Moderate Duration Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1962TSRAR_033126

# Class A: PMZAX

# PIMCO Mortgage Opportunities and Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Mortgage Opportunities and Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $261 | 2.54% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Exposure to agency mortgage-backed securities ("MBS") contributed to performance, as the sector posted positive returns.

* Exposure to non-agency residential MBS contributed to performance, as securities posted positive returns.

* Exposure to structured agency MBS contributed to performance, as the sector posted positive returns.

* Positive duration exposure detracted from performance, as interest rates increased.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g56k01.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $9622 | $10000 | $10000 |
| **4/30/16** | $9698 | $10038 | $10005 |
| **5/31/16** | $9712 | $10041 | $10011 |
| **6/30/16** | $9805 | $10221 | $10016 |
| **7/31/16** | $9891 | $10286 | $10021 |
| **8/31/16** | $9888 | $10274 | $10026 |
| **9/30/16** | $9966 | $10268 | $10032 |
| **10/31/16** | $10007 | $10190 | $10039 |
| **11/30/16** | $9923 | $9949 | $10046 |
| **12/31/16** | $9977 | $9963 | $10053 |
| **1/31/17** | $10046 | $9982 | $10061 |
| **2/28/17** | $10095 | $10049 | $10069 |
| **3/31/17** | $10121 | $10044 | $10078 |
| **4/30/17** | $10180 | $10122 | $10087 |
| **5/31/17** | $10278 | $10199 | $10097 |
| **6/30/17** | $10294 | $10189 | $10107 |
| **7/31/17** | $10345 | $10233 | $10118 |
| **8/31/17** | $10444 | $10325 | $10128 |
| **9/30/17** | $10450 | $10276 | $10139 |
| **10/31/17** | $10474 | $10282 | $10151 |
| **11/30/17** | $10471 | $10268 | $10162 |
| **12/31/17** | $10484 | $10316 | $10173 |
| **1/31/18** | $10452 | $10197 | $10188 |
| **2/28/18** | $10446 | $10100 | $10202 |
| **3/31/18** | $10501 | $10165 | $10216 |
| **4/30/18** | $10487 | $10089 | $10236 |
| **5/31/18** | $10541 | $10161 | $10256 |
| **6/30/18** | $10547 | $10149 | $10275 |
| **7/31/18** | $10562 | $10151 | $10295 |
| **8/31/18** | $10600 | $10216 | $10315 |
| **9/30/18** | $10603 | $10151 | $10335 |
| **10/31/18** | $10609 | $10070 | $10356 |
| **11/30/18** | $10626 | $10131 | $10377 |
| **12/31/18** | $10604 | $10317 | $10397 |
| **1/31/19** | $10659 | $10426 | $10421 |
| **2/28/19** | $10683 | $10420 | $10446 |
| **3/31/19** | $10759 | $10620 | $10470 |
| **4/30/19** | $10794 | $10623 | $10493 |
| **5/31/19** | $10832 | $10812 | $10516 |
| **6/30/19** | $10886 | $10947 | $10538 |
| **7/31/19** | $10932 | $10971 | $10559 |
| **8/31/19** | $10961 | $11256 | $10579 |
| **9/30/19** | $11005 | $11196 | $10600 |
| **10/31/19** | $11072 | $11230 | $10618 |
| **11/30/19** | $11058 | $11224 | $10637 |
| **12/31/19** | $11094 | $11216 | $10656 |
| **1/31/20** | $11174 | $11432 | $10673 |
| **2/29/20** | $11229 | $11638 | $10690 |
| **3/31/20** | $10690 | $11569 | $10708 |
| **4/30/20** | $10923 | $11775 | $10721 |
| **5/31/20** | $11064 | $11830 | $10734 |
| **6/30/20** | $11204 | $11904 | $10747 |
| **7/31/20** | $11296 | $12082 | $10749 |
| **8/31/20** | $11416 | $11984 | $10752 |
| **9/30/20** | $11443 | $11978 | $10755 |
| **10/31/20** | $11471 | $11924 | $10757 |
| **11/30/20** | $11560 | $12041 | $10759 |
| **12/31/20** | $11652 | $12058 | $10761 |
| **1/31/21** | $11710 | $11971 | $10763 |
| **2/28/21** | $11725 | $11799 | $10765 |
| **3/31/21** | $11689 | $11651 | $10768 |
| **4/30/21** | $11750 | $11743 | $10769 |
| **5/31/21** | $11745 | $11782 | $10771 |
| **6/30/21** | $11783 | $11864 | $10773 |
| **7/31/21** | $11856 | $11997 | $10774 |
| **8/31/21** | $11851 | $11974 | $10776 |
| **9/30/21** | $11836 | $11871 | $10777 |
| **10/31/21** | $11832 | $11867 | $10778 |
| **11/30/21** | $11838 | $11902 | $10779 |
| **12/31/21** | $11845 | $11872 | $10781 |
| **1/31/22** | $11807 | $11616 | $10783 |
| **2/28/22** | $11760 | $11487 | $10785 |
| **3/31/22** | $11595 | $11168 | $10787 |
| **4/30/22** | $11363 | $10744 | $10796 |
| **5/31/22** | $11328 | $10813 | $10805 |
| **6/30/22** | $11100 | $10643 | $10814 |
| **7/31/22** | $11261 | $10903 | $10828 |
| **8/31/22** | $11188 | $10595 | $10850 |
| **9/30/22** | $10879 | $10138 | $10872 |
| **10/31/22** | $10777 | $10006 | $10900 |
| **11/30/22** | $10935 | $10374 | $10934 |
| **12/31/22** | $10989 | $10327 | $10972 |
| **1/31/23** | $11208 | $10645 | $11013 |
| **2/28/23** | $11145 | $10370 | $11052 |
| **3/31/23** | $11186 | $10633 | $11096 |
| **4/30/23** | $11235 | $10698 | $11140 |
| **5/31/23** | $11249 | $10581 | $11188 |
| **6/30/23** | $11312 | $10544 | $11236 |
| **7/31/23** | $11359 | $10536 | $11285 |
| **8/31/23** | $11361 | $10469 | $11336 |
| **9/30/23** | $11248 | $10203 | $11387 |
| **10/31/23** | $11082 | $10042 | $11439 |
| **11/30/23** | $11441 | $10497 | $11490 |
| **12/31/23** | $11705 | $10898 | $11543 |
| **1/31/24** | $11749 | $10868 | $11596 |
| **2/29/24** | $11752 | $10715 | $11645 |
| **3/31/24** | $11873 | $10814 | $11699 |
| **4/30/24** | $11722 | $10541 | $11751 |
| **5/31/24** | $11902 | $10719 | $11805 |
| **6/30/24** | $11981 | $10821 | $11854 |
| **7/31/24** | $12211 | $11074 | $11912 |
| **8/31/24** | $12343 | $11233 | $11967 |
| **9/30/24** | $12439 | $11383 | $12018 |
| **10/31/24** | $12235 | $11101 | $12068 |
| **11/30/24** | $12359 | $11218 | $12116 |
| **12/31/24** | $12322 | $11035 | $12163 |
| **1/31/25** | $12420 | $11093 | $12208 |
| **2/28/25** | $12627 | $11337 | $12250 |
| **3/31/25** | $12670 | $11342 | $12295 |
| **4/30/25** | $12714 | $11386 | $12340 |
| **5/31/25** | $12709 | $11305 | $12386 |
| **6/30/25** | $12860 | $11478 | $12430 |
| **7/31/25** | $12848 | $11448 | $12477 |
| **8/31/25** | $13059 | $11585 | $12524 |
| **9/30/25** | $13085 | $11711 | $12569 |
| **10/31/25** | $13174 | $11785 | $12614 |
| **11/30/25** | $13269 | $11858 | $12656 |
| **12/31/25** | $13320 | $11840 | $12697 |
| **1/31/26** | $13376 | $11853 | $12738 |
| **2/28/26** | $13526 | $12047 | $12774 |
| **3/31/26** | $13354 | $11835 | $12814 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 5.40% | 2.70% | 3.33% |
| Class A (including sales charge) | 1.49% | 1.91% | 2.93% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13605449 |
| # of Portfolio Holdings | 3878 |
| Portfolio Turnover Rate | 1,004% |
| Total Net Advisory Fees Paid During the Reporting Period | $43990 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 148.1% |
| Asset-Backed Securities | 27.3% |
| Non-Agency Mortgage-Backed Securities | 26.2% |
| Corporate Bonds & Notes | 1.0% |
| U.S. Treasury Obligations | 0.3% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.8% |
| Affiliated Investments | 2.6% |
| Financial Derivative Instruments | 1.9% |
| Other Assets and Liabilities, Net | (108.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.46% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PMZAX
![Image](g112232g01x08.jpg)

# PIMCO Mortgage Opportunities and Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS6044TSRAR_033126

# Class C: PMZCX

# PIMCO Mortgage Opportunities and Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Mortgage Opportunities and Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $337 | 3.29% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Exposure to agency mortgage-backed securities ("MBS") contributed to performance, as the sector posted positive returns.

* Exposure to non-agency residential MBS contributed to performance, as securities posted positive returns.

* Exposure to structured agency MBS contributed to performance, as the sector posted positive returns.

* Positive duration exposure detracted from performance, as interest rates increased.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g64q45.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $10000 | $10000 | $10000 |
| **4/30/16** | $10073 | $10038 | $10005 |
| **5/31/16** | $10081 | $10041 | $10011 |
| **6/30/16** | $10172 | $10221 | $10016 |
| **7/31/16** | $10254 | $10286 | $10021 |
| **8/31/16** | $10245 | $10274 | $10026 |
| **9/30/16** | $10319 | $10268 | $10032 |
| **10/31/16** | $10355 | $10190 | $10039 |
| **11/30/16** | $10261 | $9949 | $10046 |
| **12/31/16** | $10311 | $9963 | $10053 |
| **1/31/17** | $10376 | $9982 | $10061 |
| **2/28/17** | $10421 | $10049 | $10069 |
| **3/31/17** | $10440 | $10044 | $10078 |
| **4/30/17** | $10495 | $10122 | $10087 |
| **5/31/17** | $10590 | $10199 | $10097 |
| **6/30/17** | $10599 | $10189 | $10107 |
| **7/31/17** | $10646 | $10233 | $10118 |
| **8/31/17** | $10741 | $10325 | $10128 |
| **9/30/17** | $10740 | $10276 | $10139 |
| **10/31/17** | $10758 | $10282 | $10151 |
| **11/30/17** | $10748 | $10268 | $10162 |
| **12/31/17** | $10755 | $10316 | $10173 |
| **1/31/18** | $10715 | $10197 | $10188 |
| **2/28/18** | $10703 | $10100 | $10202 |
| **3/31/18** | $10752 | $10165 | $10216 |
| **4/30/18** | $10731 | $10089 | $10236 |
| **5/31/18** | $10780 | $10161 | $10256 |
| **6/30/18** | $10779 | $10149 | $10275 |
| **7/31/18** | $10788 | $10151 | $10295 |
| **8/31/18** | $10819 | $10216 | $10315 |
| **9/30/18** | $10816 | $10151 | $10335 |
| **10/31/18** | $10816 | $10070 | $10356 |
| **11/30/18** | $10826 | $10131 | $10377 |
| **12/31/18** | $10797 | $10317 | $10397 |
| **1/31/19** | $10846 | $10426 | $10421 |
| **2/28/19** | $10864 | $10420 | $10446 |
| **3/31/19** | $10934 | $10620 | $10470 |
| **4/30/19** | $10963 | $10623 | $10493 |
| **5/31/19** | $10994 | $10812 | $10516 |
| **6/30/19** | $11042 | $10947 | $10538 |
| **7/31/19** | $11082 | $10971 | $10559 |
| **8/31/19** | $11103 | $11256 | $10579 |
| **9/30/19** | $11142 | $11196 | $10600 |
| **10/31/19** | $11202 | $11230 | $10618 |
| **11/30/19** | $11181 | $11224 | $10637 |
| **12/31/19** | $11211 | $11216 | $10656 |
| **1/31/20** | $11284 | $11432 | $10673 |
| **2/29/20** | $11333 | $11638 | $10690 |
| **3/31/20** | $10782 | $11569 | $10708 |
| **4/30/20** | $11010 | $11775 | $10721 |
| **5/31/20** | $11145 | $11830 | $10734 |
| **6/30/20** | $11279 | $11904 | $10747 |
| **7/31/20** | $11364 | $12082 | $10749 |
| **8/31/20** | $11477 | $11984 | $10752 |
| **9/30/20** | $11497 | $11978 | $10755 |
| **10/31/20** | $11518 | $11924 | $10757 |
| **11/30/20** | $11601 | $12041 | $10759 |
| **12/31/20** | $11685 | $12058 | $10761 |
| **1/31/21** | $11736 | $11971 | $10763 |
| **2/28/21** | $11744 | $11799 | $10765 |
| **3/31/21** | $11701 | $11651 | $10768 |
| **4/30/21** | $11755 | $11743 | $10769 |
| **5/31/21** | $11742 | $11782 | $10771 |
| **6/30/21** | $11773 | $11864 | $10773 |
| **7/31/21** | $11838 | $11997 | $10774 |
| **8/31/21** | $11826 | $11974 | $10776 |
| **9/30/21** | $11803 | $11871 | $10777 |
| **10/31/21** | $11792 | $11867 | $10778 |
| **11/30/21** | $11791 | $11902 | $10779 |
| **12/31/21** | $11790 | $11872 | $10781 |
| **1/31/22** | $11745 | $11616 | $10783 |
| **2/28/22** | $11691 | $11487 | $10785 |
| **3/31/22** | $11520 | $11168 | $10787 |
| **4/30/22** | $11282 | $10744 | $10796 |
| **5/31/22** | $11241 | $10813 | $10805 |
| **6/30/22** | $11007 | $10643 | $10814 |
| **7/31/22** | $11160 | $10903 | $10828 |
| **8/31/22** | $11081 | $10595 | $10850 |
| **9/30/22** | $10767 | $10138 | $10872 |
| **10/31/22** | $10660 | $10006 | $10900 |
| **11/30/22** | $10810 | $10374 | $10934 |
| **12/31/22** | $10856 | $10327 | $10972 |
| **1/31/23** | $11066 | $10645 | $11013 |
| **2/28/23** | $10997 | $10370 | $11052 |
| **3/31/23** | $11030 | $10633 | $11096 |
| **4/30/23** | $11072 | $10698 | $11140 |
| **5/31/23** | $11079 | $10581 | $11188 |
| **6/30/23** | $11134 | $10544 | $11236 |
| **7/31/23** | $11173 | $10536 | $11285 |
| **8/31/23** | $11168 | $10469 | $11336 |
| **9/30/23** | $11050 | $10203 | $11387 |
| **10/31/23** | $10880 | $10042 | $11439 |
| **11/30/23** | $11226 | $10497 | $11490 |
| **12/31/23** | $11477 | $10898 | $11543 |
| **1/31/24** | $11513 | $10868 | $11596 |
| **2/29/24** | $11509 | $10715 | $11645 |
| **3/31/24** | $11620 | $10814 | $11699 |
| **4/30/24** | $11465 | $10541 | $11751 |
| **5/31/24** | $11633 | $10719 | $11805 |
| **6/30/24** | $11705 | $10821 | $11854 |
| **7/31/24** | $11921 | $11074 | $11912 |
| **8/31/24** | $12043 | $11233 | $11967 |
| **9/30/24** | $12129 | $11383 | $12018 |
| **10/31/24** | $11923 | $11101 | $12068 |
| **11/30/24** | $12036 | $11218 | $12116 |
| **12/31/24** | $11992 | $11035 | $12163 |
| **1/31/25** | $12079 | $11093 | $12208 |
| **2/28/25** | $12274 | $11337 | $12250 |
| **3/31/25** | $12308 | $11342 | $12295 |
| **4/30/25** | $12344 | $11386 | $12340 |
| **5/31/25** | $12330 | $11305 | $12386 |
| **6/30/25** | $12470 | $11478 | $12430 |
| **7/31/25** | $12450 | $11448 | $12477 |
| **8/31/25** | $12646 | $11585 | $12524 |
| **9/30/25** | $12664 | $11711 | $12569 |
| **10/31/25** | $12741 | $11785 | $12614 |
| **11/30/25** | $12826 | $11858 | $12656 |
| **12/31/25** | $12867 | $11840 | $12697 |
| **1/31/26** | $12913 | $11853 | $12738 |
| **2/28/26** | $13050 | $12047 | $12774 |
| **3/31/26** | $12875 | $11835 | $12814 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 4.61% | 1.93% | 2.56% |
| Class C (including sales charge) | 3.61% | 1.93% | 2.56% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13605449 |
| # of Portfolio Holdings | 3878 |
| Portfolio Turnover Rate | 1,004% |
| Total Net Advisory Fees Paid During the Reporting Period | $43990 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 148.1% |
| Asset-Backed Securities | 27.3% |
| Non-Agency Mortgage-Backed Securities | 26.2% |
| Corporate Bonds & Notes | 1.0% |
| U.S. Treasury Obligations | 0.3% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.8% |
| Affiliated Investments | 2.6% |
| Financial Derivative Instruments | 1.9% |
| Other Assets and Liabilities, Net | (108.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.46% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PMZCX
![Image](g112232g01x08.jpg)

# PIMCO Mortgage Opportunities and Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS6244TSRAR_033126

# Institutional Class: PMZIX

# PIMCO Mortgage Opportunities and Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Mortgage Opportunities and Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $220 | 2.14% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Exposure to agency mortgage-backed securities ("MBS") contributed to performance, as the sector posted positive returns.

* Exposure to non-agency residential MBS contributed to performance, as securities posted positive returns.

* Exposure to structured agency MBS contributed to performance, as the sector posted positive returns.

* Positive duration exposure detracted from performance, as interest rates increased.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g93h26.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1008235 | $1003838 | $1000526 |
| **5/31/16** | $1010010 | $1004096 | $1001052 |
| **6/30/16** | $1020063 | $1022137 | $1001578 |
| **7/31/16** | $1029322 | $1028599 | $1002105 |
| **8/31/16** | $1029386 | $1027423 | $1002632 |
| **9/30/16** | $1037881 | $1026821 | $1003159 |
| **10/31/16** | $1042413 | $1018967 | $1003860 |
| **11/30/16** | $1034016 | $994865 | $1004560 |
| **12/31/16** | $1040086 | $996268 | $1005261 |
| **1/31/17** | $1047563 | $998223 | $1006097 |
| **2/28/17** | $1053038 | $1004932 | $1006934 |
| **3/31/17** | $1056112 | $1004405 | $1007772 |
| **4/30/17** | $1062579 | $1012156 | $1008736 |
| **5/31/17** | $1073204 | $1019947 | $1009699 |
| **6/30/17** | $1075242 | $1018920 | $1010664 |
| **7/31/17** | $1080884 | $1023305 | $1011756 |
| **8/31/17** | $1091595 | $1032484 | $1012848 |
| **9/30/17** | $1092579 | $1027566 | $1013943 |
| **10/31/17** | $1095427 | $1028161 | $1015069 |
| **11/30/17** | $1095413 | $1026841 | $1016196 |
| **12/31/17** | $1097211 | $1031554 | $1017325 |
| **1/31/18** | $1094227 | $1019674 | $1018760 |
| **2/28/18** | $1093978 | $1010008 | $1020198 |
| **3/31/18** | $1100090 | $1016485 | $1021638 |
| **4/30/18** | $1098937 | $1008925 | $1023597 |
| **5/31/18** | $1104973 | $1016126 | $1025561 |
| **6/30/18** | $1106008 | $1014876 | $1027529 |
| **7/31/18** | $1107953 | $1015117 | $1029527 |
| **8/31/18** | $1112316 | $1021649 | $1031530 |
| **9/30/18** | $1112964 | $1015070 | $1033537 |
| **10/31/18** | $1114010 | $1007049 | $1035592 |
| **11/30/18** | $1116175 | $1013060 | $1037651 |
| **12/31/18** | $1114260 | $1031671 | $1039715 |
| **1/31/19** | $1120393 | $1042627 | $1042143 |
| **2/28/19** | $1123230 | $1042023 | $1044577 |
| **3/31/19** | $1131575 | $1062032 | $1047017 |
| **4/30/19** | $1135673 | $1062304 | $1049286 |
| **5/31/19** | $1140088 | $1081161 | $1051561 |
| **6/30/19** | $1146101 | $1094739 | $1053840 |
| **7/31/19** | $1151385 | $1097147 | $1055886 |
| **8/31/19** | $1154784 | $1125576 | $1057936 |
| **9/30/19** | $1159789 | $1119581 | $1059991 |
| **10/31/19** | $1167236 | $1122953 | $1061850 |
| **11/30/19** | $1166207 | $1122381 | $1063711 |
| **12/31/19** | $1170446 | $1121599 | $1065577 |
| **1/31/20** | $1179223 | $1143184 | $1067304 |
| **2/29/20** | $1185435 | $1163759 | $1069033 |
| **3/31/20** | $1128913 | $1156911 | $1070765 |
| **4/30/20** | $1153879 | $1177476 | $1072060 |
| **5/31/20** | $1169196 | $1182959 | $1073355 |
| **6/30/20** | $1184449 | $1190410 | $1074652 |
| **7/31/20** | $1194577 | $1208191 | $1074928 |
| **8/31/20** | $1207608 | $1198439 | $1075203 |
| **9/30/20** | $1210845 | $1197782 | $1075480 |
| **10/31/20** | $1214308 | $1192434 | $1075677 |
| **11/30/20** | $1224115 | $1204134 | $1075874 |
| **12/31/20** | $1234326 | $1205794 | $1076072 |
| **1/31/21** | $1240775 | $1197148 | $1076299 |
| **2/28/21** | $1242733 | $1179861 | $1076527 |
| **3/31/21** | $1239379 | $1165128 | $1076755 |
| **4/30/21** | $1246322 | $1174333 | $1076937 |
| **5/31/21** | $1246135 | $1178169 | $1077119 |
| **6/30/21** | $1250615 | $1186447 | $1077300 |
| **7/31/21** | $1258756 | $1199713 | $1077433 |
| **8/31/21** | $1258680 | $1197429 | $1077565 |
| **9/30/21** | $1257454 | $1187061 | $1077697 |
| **10/31/21** | $1257490 | $1186734 | $1077815 |
| **11/30/21** | $1258543 | $1190245 | $1077933 |
| **12/31/21** | $1259799 | $1187200 | $1078052 |
| **1/31/22** | $1256059 | $1161622 | $1078252 |
| **2/28/22** | $1251489 | $1148663 | $1078453 |
| **3/31/22** | $1234378 | $1116751 | $1078655 |
| **4/30/22** | $1210094 | $1074373 | $1079559 |
| **5/31/22** | $1206758 | $1081300 | $1080464 |
| **6/30/22** | $1182843 | $1064336 | $1081370 |
| **7/31/22** | $1200417 | $1090343 | $1082840 |
| **8/31/22** | $1193076 | $1059533 | $1084974 |
| **9/30/22** | $1160542 | $1013755 | $1087187 |
| **10/31/22** | $1149997 | $1000624 | $1090024 |
| **11/30/22** | $1167287 | $1037423 | $1093382 |
| **12/31/22** | $1173455 | $1032743 | $1097197 |
| **1/31/23** | $1197233 | $1064515 | $1101269 |
| **2/28/23** | $1190870 | $1036991 | $1105156 |
| **3/31/23** | $1195613 | $1063333 | $1109554 |
| **4/30/23** | $1201249 | $1069778 | $1114015 |
| **5/31/23** | $1203151 | $1058130 | $1118838 |
| **6/30/23** | $1210331 | $1054356 | $1123559 |
| **7/31/23** | $1215709 | $1053621 | $1128492 |
| **8/31/23** | $1216317 | $1046891 | $1133649 |
| **9/30/23** | $1204658 | $1020288 | $1138672 |
| **10/31/23** | $1187267 | $1004186 | $1143887 |
| **11/30/23** | $1226138 | $1049662 | $1148966 |
| **12/31/23** | $1254895 | $1089842 | $1154251 |
| **1/31/24** | $1259946 | $1086849 | $1159560 |
| **2/29/24** | $1260702 | $1071494 | $1164535 |
| **3/31/24** | $1274113 | $1081388 | $1169880 |
| **4/30/24** | $1258318 | $1054074 | $1175074 |
| **5/31/24** | $1278061 | $1071944 | $1180456 |
| **6/30/24** | $1286996 | $1082092 | $1185355 |
| **7/31/24** | $1312081 | $1107367 | $1191175 |
| **8/31/24** | $1326815 | $1123279 | $1196655 |
| **9/30/24** | $1337486 | $1138319 | $1201824 |
| **10/31/24** | $1316058 | $1110090 | $1206847 |
| **11/30/24** | $1329849 | $1121827 | $1211567 |
| **12/31/24** | $1326300 | $1103468 | $1216304 |
| **1/31/25** | $1337325 | $1109322 | $1220841 |
| **2/28/25** | $1360013 | $1133729 | $1224967 |
| **3/31/25** | $1365012 | $1134155 | $1229536 |
| **4/30/25** | $1370259 | $1138613 | $1233987 |
| **5/31/25** | $1370106 | $1130460 | $1238578 |
| **6/30/25** | $1386864 | $1147843 | $1243036 |
| **7/31/25** | $1386023 | $1144815 | $1247698 |
| **8/31/25** | $1409236 | $1158507 | $1252364 |
| **9/30/25** | $1412495 | $1171145 | $1256860 |
| **10/31/25** | $1422652 | $1178462 | $1261410 |
| **11/30/25** | $1433283 | $1185785 | $1265611 |
| **12/31/25** | $1439318 | $1184031 | $1269736 |
| **1/31/26** | $1445847 | $1185295 | $1273762 |
| **2/28/26** | $1462505 | $1204706 | $1277392 |
| **3/31/26** | $1444293 | $1183475 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 5.81% | 3.11% | 3.74% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13605449 |
| # of Portfolio Holdings | 3878 |
| Portfolio Turnover Rate | 1,004% |
| Total Net Advisory Fees Paid During the Reporting Period | $43990 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 148.1% |
| Asset-Backed Securities | 27.3% |
| Non-Agency Mortgage-Backed Securities | 26.2% |
| Corporate Bonds & Notes | 1.0% |
| U.S. Treasury Obligations | 0.3% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.8% |
| Affiliated Investments | 2.6% |
| Financial Derivative Instruments | 1.9% |
| Other Assets and Liabilities, Net | (108.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.46% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PMZIX
![Image](g112232g01x08.jpg)

# PIMCO Mortgage Opportunities and Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2075TSRAR_033126

# I-2: PMZPX

# PIMCO Mortgage Opportunities and Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Mortgage Opportunities and Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $230 | 2.24% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Exposure to agency mortgage-backed securities ("MBS") contributed to performance, as the sector posted positive returns.

* Exposure to non-agency residential MBS contributed to performance, as securities posted positive returns.

* Exposure to structured agency MBS contributed to performance, as the sector posted positive returns.

* Positive duration exposure detracted from performance, as interest rates increased.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g74k19.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1008046 | $1003838 | $1000526 |
| **5/31/16** | $1009736 | $1004096 | $1001052 |
| **6/30/16** | $1019702 | $1022137 | $1001578 |
| **7/31/16** | $1028872 | $1028599 | $1002105 |
| **8/31/16** | $1028849 | $1027423 | $1002632 |
| **9/30/16** | $1037249 | $1026821 | $1003159 |
| **10/31/16** | $1041696 | $1018967 | $1003860 |
| **11/30/16** | $1033219 | $994865 | $1004560 |
| **12/31/16** | $1039191 | $996268 | $1005261 |
| **1/31/17** | $1046578 | $998223 | $1006097 |
| **2/28/17** | $1051967 | $1004932 | $1006934 |
| **3/31/17** | $1054944 | $1004405 | $1007772 |
| **4/30/17** | $1061324 | $1012156 | $1008736 |
| **5/31/17** | $1071847 | $1019947 | $1009699 |
| **6/30/17** | $1073789 | $1018920 | $1010664 |
| **7/31/17** | $1079341 | $1023305 | $1011756 |
| **8/31/17** | $1089946 | $1032484 | $1012848 |
| **9/30/17** | $1090838 | $1027566 | $1013943 |
| **10/31/17** | $1093594 | $1028161 | $1015069 |
| **11/30/17** | $1093491 | $1026841 | $1016196 |
| **12/31/17** | $1095189 | $1031554 | $1017325 |
| **1/31/18** | $1092120 | $1019674 | $1018760 |
| **2/28/18** | $1091787 | $1010008 | $1020198 |
| **3/31/18** | $1097791 | $1016485 | $1021638 |
| **4/30/18** | $1096554 | $1008925 | $1023597 |
| **5/31/18** | $1102483 | $1016126 | $1025561 |
| **6/30/18** | $1103422 | $1014876 | $1027529 |
| **7/31/18** | $1105272 | $1015117 | $1029527 |
| **8/31/18** | $1109522 | $1021649 | $1031530 |
| **9/30/18** | $1110086 | $1015070 | $1033537 |
| **10/31/18** | $1111035 | $1007049 | $1035592 |
| **11/30/18** | $1113097 | $1013060 | $1037651 |
| **12/31/18** | $1111095 | $1031671 | $1039715 |
| **1/31/19** | $1117117 | $1042627 | $1042143 |
| **2/28/19** | $1119859 | $1042023 | $1044577 |
| **3/31/19** | $1128082 | $1062032 | $1047017 |
| **4/30/19** | $1132074 | $1062304 | $1049286 |
| **5/31/19** | $1136372 | $1081161 | $1051561 |
| **6/30/19** | $1142277 | $1094739 | $1053840 |
| **7/31/19** | $1147446 | $1097147 | $1055886 |
| **8/31/19** | $1150729 | $1125576 | $1057936 |
| **9/30/19** | $1155628 | $1119581 | $1059991 |
| **10/31/19** | $1162950 | $1122953 | $1061850 |
| **11/30/19** | $1161825 | $1122381 | $1063711 |
| **12/31/19** | $1165949 | $1121599 | $1065577 |
| **1/31/20** | $1174589 | $1143184 | $1067304 |
| **2/29/20** | $1180687 | $1163759 | $1069033 |
| **3/31/20** | $1124293 | $1156911 | $1070765 |
| **4/30/20** | $1149059 | $1177476 | $1072060 |
| **5/31/20** | $1164210 | $1182959 | $1073355 |
| **6/30/20** | $1179300 | $1190410 | $1074652 |
| **7/31/20** | $1189276 | $1208191 | $1074928 |
| **8/31/20** | $1202153 | $1198439 | $1075203 |
| **9/30/20** | $1205277 | $1197782 | $1075480 |
| **10/31/20** | $1208617 | $1192434 | $1075677 |
| **11/30/20** | $1218282 | $1204134 | $1075874 |
| **12/31/20** | $1228331 | $1205794 | $1076072 |
| **1/31/21** | $1234655 | $1197148 | $1076299 |
| **2/28/21** | $1236509 | $1179861 | $1076527 |
| **3/31/21** | $1233066 | $1165128 | $1076755 |
| **4/30/21** | $1239865 | $1174333 | $1076937 |
| **5/31/21** | $1239581 | $1178169 | $1077119 |
| **6/30/21** | $1243935 | $1186447 | $1077300 |
| **7/31/21** | $1251923 | $1199713 | $1077433 |
| **8/31/21** | $1251744 | $1197429 | $1077565 |
| **9/30/21** | $1250423 | $1187061 | $1077697 |
| **10/31/21** | $1250351 | $1186734 | $1077815 |
| **11/30/21** | $1251296 | $1190245 | $1077933 |
| **12/31/21** | $1252431 | $1187200 | $1078052 |
| **1/31/22** | $1248613 | $1161622 | $1078252 |
| **2/28/22** | $1243976 | $1148663 | $1078453 |
| **3/31/22** | $1226861 | $1116751 | $1078655 |
| **4/30/22** | $1202621 | $1074373 | $1079559 |
| **5/31/22** | $1199207 | $1081300 | $1080464 |
| **6/30/22** | $1175343 | $1064336 | $1081370 |
| **7/31/22** | $1192706 | $1090343 | $1082840 |
| **8/31/22** | $1185310 | $1059533 | $1084974 |
| **9/30/22** | $1152884 | $1013755 | $1087187 |
| **10/31/22** | $1142316 | $1000624 | $1090024 |
| **11/30/22** | $1159397 | $1037423 | $1093382 |
| **12/31/22** | $1165418 | $1032743 | $1097197 |
| **1/31/23** | $1188941 | $1064515 | $1101269 |
| **2/28/23** | $1182531 | $1036991 | $1105156 |
| **3/31/23** | $1187134 | $1063333 | $1109554 |
| **4/30/23** | $1192639 | $1069778 | $1114015 |
| **5/31/23** | $1194426 | $1058130 | $1118838 |
| **6/30/23** | $1201449 | $1054356 | $1123559 |
| **7/31/23** | $1206692 | $1053621 | $1128492 |
| **8/31/23** | $1207194 | $1046891 | $1133649 |
| **9/30/23** | $1195519 | $1020288 | $1138672 |
| **10/31/23** | $1178162 | $1004186 | $1143887 |
| **11/30/23** | $1216638 | $1049662 | $1148966 |
| **12/31/23** | $1245066 | $1089842 | $1154251 |
| **1/31/24** | $1249975 | $1086849 | $1159560 |
| **2/29/24** | $1250626 | $1071494 | $1164535 |
| **3/31/24** | $1263824 | $1081388 | $1169880 |
| **4/30/24** | $1248052 | $1054074 | $1175074 |
| **5/31/24** | $1267545 | $1071944 | $1180456 |
| **6/30/24** | $1276330 | $1082092 | $1185355 |
| **7/31/24** | $1301122 | $1107367 | $1191175 |
| **8/31/24** | $1315596 | $1123279 | $1196655 |
| **9/30/24** | $1326099 | $1138319 | $1201824 |
| **10/31/24** | $1304723 | $1110090 | $1206847 |
| **11/30/24** | $1318265 | $1121827 | $1211567 |
| **12/31/24** | $1314615 | $1103468 | $1216304 |
| **1/31/25** | $1325405 | $1109322 | $1220841 |
| **2/28/25** | $1347811 | $1133729 | $1224967 |
| **3/31/25** | $1352682 | $1134155 | $1229536 |
| **4/30/25** | $1357794 | $1138613 | $1233987 |
| **5/31/25** | $1357550 | $1130460 | $1238578 |
| **6/30/25** | $1374026 | $1147843 | $1243036 |
| **7/31/25** | $1373102 | $1144815 | $1247698 |
| **8/31/25** | $1395957 | $1158507 | $1252364 |
| **9/30/25** | $1399099 | $1171145 | $1256860 |
| **10/31/25** | $1409012 | $1178462 | $1261410 |
| **11/30/25** | $1419458 | $1185785 | $1265611 |
| **12/31/25** | $1425305 | $1184031 | $1269736 |
| **1/31/26** | $1431677 | $1185295 | $1273762 |
| **2/28/26** | $1448086 | $1204706 | $1277392 |
| **3/31/26** | $1429962 | $1183475 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 5.71% | 3.01% | 3.64% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13605449 |
| # of Portfolio Holdings | 3878 |
| Portfolio Turnover Rate | 1,004% |
| Total Net Advisory Fees Paid During the Reporting Period | $43990 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 148.1% |
| Asset-Backed Securities | 27.3% |
| Non-Agency Mortgage-Backed Securities | 26.2% |
| Corporate Bonds & Notes | 1.0% |
| U.S. Treasury Obligations | 0.3% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.8% |
| Affiliated Investments | 2.6% |
| Financial Derivative Instruments | 1.9% |
| Other Assets and Liabilities, Net | (108.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.46% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PMZPX
![Image](g112232g01x08.jpg)

# PIMCO Mortgage Opportunities and Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2077TSRAR_033126

# I-3: PMZNX

# PIMCO Mortgage Opportunities and Bond Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Mortgage Opportunities and Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $235 | 2.29% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Exposure to agency mortgage-backed securities ("MBS") contributed to performance, as the sector posted positive returns.

* Exposure to non-agency residential MBS contributed to performance, as securities posted positive returns.

* Exposure to structured agency MBS contributed to performance, as the sector posted positive returns.

* Positive duration exposure detracted from performance, as interest rates increased.

* There were no other material detractors for this Fund.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of: (i) a broad-based securities market index (i.e., a regulatory index) and (ii) one or more supplemental index(es). The Fund's regulatory index is the Bloomberg U.S. Aggregate Index. The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of I-3 shares (4/27/2018), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by I-3 shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g37o93.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **I-3** | **Bloomberg U.S. Aggregate Index** | **ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup><sup>Footnote Reference(2)</sup>** |
| **3/31/16** | $1000000 | $1000000 | $1000000 |
| **4/30/16** | $1008111 | $1003838 | $1000526 |
| **5/31/16** | $1009759 | $1004096 | $1001052 |
| **6/30/16** | $1019685 | $1022137 | $1001578 |
| **7/31/16** | $1028810 | $1028599 | $1002105 |
| **8/31/16** | $1028744 | $1027423 | $1002632 |
| **9/30/16** | $1037106 | $1026821 | $1003159 |
| **10/31/16** | $1041503 | $1018967 | $1003860 |
| **11/30/16** | $1032986 | $994865 | $1004560 |
| **12/31/16** | $1038919 | $996268 | $1005261 |
| **1/31/17** | $1046255 | $998223 | $1006097 |
| **2/28/17** | $1051602 | $1004932 | $1006934 |
| **3/31/17** | $1054538 | $1004405 | $1007772 |
| **4/30/17** | $1060866 | $1012156 | $1008736 |
| **5/31/17** | $1071337 | $1019947 | $1009699 |
| **6/30/17** | $1073240 | $1018920 | $1010664 |
| **7/31/17** | $1078735 | $1023305 | $1011756 |
| **8/31/17** | $1089286 | $1032484 | $1012848 |
| **9/30/17** | $1090134 | $1027566 | $1013943 |
| **10/31/17** | $1092836 | $1028161 | $1015069 |
| **11/30/17** | $1092688 | $1026841 | $1016196 |
| **12/31/17** | $1094343 | $1031554 | $1017325 |
| **1/31/18** | $1091227 | $1019674 | $1018760 |
| **2/28/18** | $1090853 | $1010008 | $1020198 |
| **3/31/18** | $1096808 | $1016485 | $1021638 |
| **4/30/18** | $1095440 | $1008925 | $1023597 |
| **5/31/18** | $1101317 | $1016126 | $1025561 |
| **6/30/18** | $1102208 | $1014876 | $1027529 |
| **7/31/18** | $1104011 | $1015117 | $1029527 |
| **8/31/18** | $1108205 | $1021649 | $1031530 |
| **9/30/18** | $1108727 | $1015070 | $1033537 |
| **10/31/18** | $1109627 | $1007049 | $1035592 |
| **11/30/18** | $1111638 | $1013060 | $1037651 |
| **12/31/18** | $1109594 | $1031671 | $1039715 |
| **1/31/19** | $1115561 | $1042627 | $1042143 |
| **2/28/19** | $1118256 | $1042023 | $1044577 |
| **3/31/19** | $1126419 | $1062032 | $1047017 |
| **4/30/19** | $1130358 | $1062304 | $1049286 |
| **5/31/19** | $1134598 | $1081161 | $1051561 |
| **6/30/19** | $1140449 | $1094739 | $1053840 |
| **7/31/19** | $1145562 | $1097147 | $1055886 |
| **8/31/19** | $1148787 | $1125576 | $1057936 |
| **9/30/19** | $1153633 | $1119581 | $1059991 |
| **10/31/19** | $1160893 | $1122953 | $1061850 |
| **11/30/19** | $1159722 | $1122381 | $1063711 |
| **12/31/19** | $1163789 | $1121599 | $1065577 |
| **1/31/20** | $1172361 | $1143184 | $1067304 |
| **2/29/20** | $1178401 | $1163759 | $1069033 |
| **3/31/20** | $1122069 | $1156911 | $1070765 |
| **4/30/20** | $1146736 | $1177476 | $1072060 |
| **5/31/20** | $1161807 | $1182959 | $1073355 |
| **6/30/20** | $1176816 | $1190410 | $1074652 |
| **7/31/20** | $1186717 | $1208191 | $1074928 |
| **8/31/20** | $1199518 | $1198439 | $1075203 |
| **9/30/20** | $1202586 | $1197782 | $1075480 |
| **10/31/20** | $1205866 | $1192434 | $1075677 |
| **11/30/20** | $1215460 | $1204134 | $1075874 |
| **12/31/20** | $1225429 | $1205794 | $1076072 |
| **1/31/21** | $1231692 | $1197148 | $1076299 |
| **2/28/21** | $1233494 | $1179861 | $1076527 |
| **3/31/21** | $1230008 | $1165128 | $1076755 |
| **4/30/21** | $1236736 | $1174333 | $1076937 |
| **5/31/21** | $1236403 | $1178169 | $1077119 |
| **6/30/21** | $1240695 | $1186447 | $1077300 |
| **7/31/21** | $1248608 | $1199713 | $1077433 |
| **8/31/21** | $1248378 | $1197429 | $1077565 |
| **9/30/21** | $1247009 | $1187061 | $1077697 |
| **10/31/21** | $1246884 | $1186734 | $1077815 |
| **11/30/21** | $1247775 | $1190245 | $1077933 |
| **12/31/21** | $1248850 | $1187200 | $1078052 |
| **1/31/22** | $1244994 | $1161622 | $1078252 |
| **2/28/22** | $1240322 | $1148663 | $1078453 |
| **3/31/22** | $1223205 | $1116751 | $1078655 |
| **4/30/22** | $1198985 | $1074373 | $1079559 |
| **5/31/22** | $1195532 | $1081300 | $1080464 |
| **6/30/22** | $1171692 | $1064336 | $1081370 |
| **7/31/22** | $1188951 | $1090343 | $1082840 |
| **8/31/22** | $1181529 | $1059533 | $1084974 |
| **9/30/22** | $1149154 | $1013755 | $1087187 |
| **10/31/22** | $1138575 | $1000624 | $1090024 |
| **11/30/22** | $1155553 | $1037423 | $1093382 |
| **12/31/22** | $1161501 | $1032743 | $1097197 |
| **1/31/23** | $1184899 | $1064515 | $1101269 |
| **2/28/23** | $1178465 | $1036991 | $1105156 |
| **3/31/23** | $1182999 | $1063333 | $1109554 |
| **4/30/23** | $1188440 | $1069778 | $1114015 |
| **5/31/23** | $1190169 | $1058130 | $1118838 |
| **6/30/23** | $1197115 | $1054356 | $1123559 |
| **7/31/23** | $1202292 | $1053621 | $1128492 |
| **8/31/23** | $1202741 | $1046891 | $1133649 |
| **9/30/23** | $1191059 | $1020288 | $1138672 |
| **10/31/23** | $1173717 | $1004186 | $1143887 |
| **11/30/23** | $1212000 | $1049662 | $1148966 |
| **12/31/23** | $1240265 | $1089842 | $1154251 |
| **1/31/24** | $1245105 | $1086849 | $1159560 |
| **2/29/24** | $1245704 | $1071494 | $1164535 |
| **3/31/24** | $1258798 | $1081388 | $1169880 |
| **4/30/24** | $1243037 | $1054074 | $1175074 |
| **5/31/24** | $1262407 | $1071944 | $1180456 |
| **6/30/24** | $1271081 | $1082092 | $1185355 |
| **7/31/24** | $1295686 | $1107367 | $1191175 |
| **8/31/24** | $1310054 | $1123279 | $1196655 |
| **9/30/24** | $1320434 | $1138319 | $1201824 |
| **10/31/24** | $1299107 | $1110090 | $1206847 |
| **11/30/24** | $1312547 | $1121827 | $1211567 |
| **12/31/24** | $1308869 | $1103468 | $1216304 |
| **1/31/25** | $1319567 | $1109322 | $1220841 |
| **2/28/25** | $1341794 | $1133729 | $1224967 |
| **3/31/25** | $1346601 | $1134155 | $1229536 |
| **4/30/25** | $1351647 | $1138613 | $1233987 |
| **5/31/25** | $1351311 | $1130460 | $1238578 |
| **6/30/25** | $1367670 | $1147843 | $1243036 |
| **7/31/25** | $1366659 | $1144815 | $1247698 |
| **8/31/25** | $1389360 | $1158507 | $1252364 |
| **9/30/25** | $1392402 | $1171145 | $1256860 |
| **10/31/25** | $1402218 | $1178462 | $1261410 |
| **11/30/25** | $1412572 | $1185785 | $1265611 |
| **12/31/25** | $1418328 | $1184031 | $1269736 |
| **1/31/26** | $1424576 | $1185295 | $1273762 |
| **2/28/26** | $1440819 | $1204706 | $1277392 |
| **3/31/26** | $1422695 | $1183475 | $1281416 |

---

The table below shows the average annual total returns of the Fund, a regulatory index, and one or more supplemental index(es) for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-3 | 5.65% | 2.95% | 3.59% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |
| ICE BofA SOFR Overnight Rate Index<sup>Footnote Reference(1)</sup> | 4.22% | 3.50% | -% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;ICE BofA SOFR Overnight Rate Index was first published on October 1, 2019. |
| &nbsp;&nbsp;Footnote<sup>(2)</sup> | &nbsp;&nbsp;Performance shown for the index is ICE BofA SOFR Overnight Rate Index. Prior to July 1, 2022, performance is that of 3 Month USD LIBOR. Prior to July 1, 2022, the 3 Month USD LIBOR was the Fund's primary benchmark. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $13605449 |
| # of Portfolio Holdings | 3878 |
| Portfolio Turnover Rate | 1,004% |
| Total Net Advisory Fees Paid During the Reporting Period | $43990 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 148.1% |
| Asset-Backed Securities | 27.3% |
| Non-Agency Mortgage-Backed Securities | 26.2% |
| Corporate Bonds & Notes | 1.0% |
| U.S. Treasury Obligations | 0.3% |
| Other Investments | 0.1% |
| Short-Term Instruments | 0.8% |
| Affiliated Investments | 2.6% |
| Financial Derivative Instruments | 1.9% |
| Other Assets and Liabilities, Net | (108.3%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses increased during the year by 0.46% as a result of higher expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PMZNX
![Image](g112232g01x08.jpg)

# PIMCO Mortgage Opportunities and Bond Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2190TSRAR_033126

# Class A: PTGAX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $172 | 1.68% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of Class A shares (2/3/2020), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by Class A shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g76v63.jpg)

---

| | | |
|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $9773 | $10000 |
| **4/30/16** | $9824 | $10038 |
| **5/31/16** | $9850 | $10041 |
| **6/30/16** | $9970 | $10221 |
| **7/31/16** | $10078 | $10286 |
| **8/31/16** | $10063 | $10274 |
| **9/30/16** | $10087 | $10268 |
| **10/31/16** | $10028 | $10190 |
| **11/30/16** | $9779 | $9949 |
| **12/31/16** | $9845 | $9963 |
| **1/31/17** | $9915 | $9982 |
| **2/28/17** | $9982 | $10049 |
| **3/31/17** | $9977 | $10044 |
| **4/30/17** | $10045 | $10122 |
| **5/31/17** | $10116 | $10199 |
| **6/30/17** | $10118 | $10189 |
| **7/31/17** | $10184 | $10233 |
| **8/31/17** | $10296 | $10325 |
| **9/30/17** | $10265 | $10276 |
| **10/31/17** | $10256 | $10282 |
| **11/30/17** | $10218 | $10268 |
| **12/31/17** | $10243 | $10316 |
| **1/31/18** | $10132 | $10197 |
| **2/28/18** | $10056 | $10100 |
| **3/31/18** | $10082 | $10165 |
| **4/30/18** | $9983 | $10089 |
| **5/31/18** | $10037 | $10161 |
| **6/30/18** | $10034 | $10149 |
| **7/31/18** | $10052 | $10151 |
| **8/31/18** | $10130 | $10216 |
| **9/30/18** | $10057 | $10151 |
| **10/31/18** | $9989 | $10070 |
| **11/30/18** | $9999 | $10131 |
| **12/31/18** | $10123 | $10317 |
| **1/31/19** | $10245 | $10426 |
| **2/28/19** | $10265 | $10420 |
| **3/31/19** | $10424 | $10620 |
| **4/30/19** | $10447 | $10623 |
| **5/31/19** | $10625 | $10812 |
| **6/30/19** | $10753 | $10947 |
| **7/31/19** | $10763 | $10971 |
| **8/31/19** | $11064 | $11256 |
| **9/30/19** | $11003 | $11196 |
| **10/31/19** | $11050 | $11230 |
| **11/30/19** | $11014 | $11224 |
| **12/31/19** | $10983 | $11216 |
| **1/31/20** | $11252 | $11432 |
| **2/29/20** | $11389 | $11638 |
| **3/31/20** | $11152 | $11569 |
| **4/30/20** | $11403 | $11775 |
| **5/31/20** | $11472 | $11830 |
| **6/30/20** | $11601 | $11904 |
| **7/31/20** | $11813 | $12082 |
| **8/31/20** | $11773 | $11984 |
| **9/30/20** | $11780 | $11978 |
| **10/31/20** | $11740 | $11924 |
| **11/30/20** | $11890 | $12041 |
| **12/31/20** | $11921 | $12058 |
| **1/31/21** | $11874 | $11971 |
| **2/28/21** | $11717 | $11799 |
| **3/31/21** | $11536 | $11651 |
| **4/30/21** | $11654 | $11743 |
| **5/31/21** | $11682 | $11782 |
| **6/30/21** | $11786 | $11864 |
| **7/31/21** | $11903 | $11997 |
| **8/31/21** | $11882 | $11974 |
| **9/30/21** | $11800 | $11871 |
| **10/31/21** | $11754 | $11867 |
| **11/30/21** | $11745 | $11902 |
| **12/31/21** | $11743 | $11872 |
| **1/31/22** | $11506 | $11616 |
| **2/28/22** | $11308 | $11487 |
| **3/31/22** | $10972 | $11168 |
| **4/30/22** | $10483 | $10744 |
| **5/31/22** | $10527 | $10813 |
| **6/30/22** | $10229 | $10643 |
| **7/31/22** | $10491 | $10903 |
| **8/31/22** | $10203 | $10595 |
| **9/30/22** | $9724 | $10138 |
| **10/31/22** | $9537 | $10006 |
| **11/30/22** | $9905 | $10374 |
| **12/31/22** | $9874 | $10327 |
| **1/31/23** | $10235 | $10645 |
| **2/28/23** | $9981 | $10370 |
| **3/31/23** | $10145 | $10633 |
| **4/30/23** | $10192 | $10698 |
| **5/31/23** | $10087 | $10581 |
| **6/30/23** | $10042 | $10544 |
| **7/31/23** | $10052 | $10536 |
| **8/31/23** | $9998 | $10469 |
| **9/30/23** | $9738 | $10203 |
| **10/31/23** | $9560 | $10042 |
| **11/30/23** | $10005 | $10497 |
| **12/31/23** | $10404 | $10898 |
| **1/31/24** | $10414 | $10868 |
| **2/29/24** | $10290 | $10715 |
| **3/31/24** | $10394 | $10814 |
| **4/30/24** | $10122 | $10541 |
| **5/31/24** | $10331 | $10719 |
| **6/30/24** | $10406 | $10821 |
| **7/31/24** | $10669 | $11074 |
| **8/31/24** | $10795 | $11233 |
| **9/30/24** | $10938 | $11383 |
| **10/31/24** | $10648 | $11101 |
| **11/30/24** | $10791 | $11218 |
| **12/31/24** | $10600 | $11035 |
| **1/31/25** | $10702 | $11093 |
| **2/28/25** | $10958 | $11337 |
| **3/31/25** | $10948 | $11342 |
| **4/30/25** | $10939 | $11386 |
| **5/31/25** | $10844 | $11305 |
| **6/30/25** | $11047 | $11478 |
| **7/31/25** | $11036 | $11448 |
| **8/31/25** | $11172 | $11585 |
| **9/30/25** | $11303 | $11711 |
| **10/31/25** | $11410 | $11785 |
| **11/30/25** | $11485 | $11858 |
| **12/31/25** | $11461 | $11840 |
| **1/31/26** | $11506 | $11853 |
| **2/28/26** | $11699 | $12047 |
| **3/31/26** | $11410 | $11835 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 4.22% | (0.22%) | 1.56% |
| Class A (including sales charge) | 1.85% | (0.66%) | 1.33% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PTGAX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8089TSRAR_033126

# Administrative Class: PRFAX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Administrative Class | $156 | 1.53% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g83m35.jpg)

---

| | | |
|:---|:---|:---|
| | **Administrative Class** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1005303 | $1003838 |
| **5/31/16** | $1008133 | $1004096 |
| **6/30/16** | $1020516 | $1022137 |
| **7/31/16** | $1031669 | $1028599 |
| **8/31/16** | $1030328 | $1027423 |
| **9/30/16** | $1032843 | $1026821 |
| **10/31/16** | $1027018 | $1018967 |
| **11/30/16** | $1001583 | $994865 |
| **12/31/16** | $1008497 | $996268 |
| **1/31/17** | $1015767 | $998223 |
| **2/28/17** | $1022793 | $1004932 |
| **3/31/17** | $1022333 | $1004405 |
| **4/30/17** | $1029481 | $1012156 |
| **5/31/17** | $1036855 | $1019947 |
| **6/30/17** | $1037195 | $1018920 |
| **7/31/17** | $1044111 | $1023305 |
| **8/31/17** | $1055750 | $1032484 |
| **9/30/17** | $1052626 | $1027566 |
| **10/31/17** | $1051842 | $1028161 |
| **11/30/17** | $1048122 | $1026841 |
| **12/31/17** | $1050814 | $1031554 |
| **1/31/18** | $1039597 | $1019674 |
| **2/28/18** | $1031893 | $1010008 |
| **3/31/18** | $1034641 | $1016485 |
| **4/30/18** | $1024656 | $1008925 |
| **5/31/18** | $1030362 | $1016126 |
| **6/30/18** | $1030153 | $1014876 |
| **7/31/18** | $1032137 | $1015117 |
| **8/31/18** | $1040294 | $1021649 |
| **9/30/18** | $1032911 | $1015070 |
| **10/31/18** | $1026005 | $1007049 |
| **11/30/18** | $1027170 | $1013060 |
| **12/31/18** | $1040038 | $1031671 |
| **1/31/19** | $1052736 | $1042627 |
| **2/28/19** | $1054910 | $1042023 |
| **3/31/19** | $1071417 | $1062032 |
| **4/30/19** | $1073883 | $1062304 |
| **5/31/19** | $1092308 | $1081161 |
| **6/30/19** | $1105649 | $1094739 |
| **7/31/19** | $1106837 | $1097147 |
| **8/31/19** | $1137915 | $1125576 |
| **9/30/19** | $1131774 | $1119581 |
| **10/31/19** | $1136753 | $1122953 |
| **11/30/19** | $1133183 | $1122381 |
| **12/31/19** | $1130116 | $1121599 |
| **1/31/20** | $1157931 | $1143184 |
| **2/29/20** | $1172229 | $1163759 |
| **3/31/20** | $1147902 | $1156911 |
| **4/30/20** | $1173869 | $1177476 |
| **5/31/20** | $1181130 | $1182959 |
| **6/30/20** | $1194502 | $1190410 |
| **7/31/20** | $1216587 | $1208191 |
| **8/31/20** | $1212574 | $1198439 |
| **9/30/20** | $1213477 | $1197782 |
| **10/31/20** | $1209461 | $1192434 |
| **11/30/20** | $1225096 | $1204134 |
| **12/31/20** | $1228383 | $1205794 |
| **1/31/21** | $1223680 | $1197148 |
| **2/28/21** | $1207713 | $1179861 |
| **3/31/21** | $1189191 | $1165128 |
| **4/30/21** | $1201450 | $1174333 |
| **5/31/21** | $1204513 | $1178169 |
| **6/30/21** | $1215365 | $1186447 |
| **7/31/21** | $1227585 | $1199713 |
| **8/31/21** | $1225600 | $1197429 |
| **9/30/21** | $1217255 | $1187061 |
| **10/31/21** | $1212668 | $1186734 |
| **11/30/21** | $1211921 | $1190245 |
| **12/31/21** | $1211859 | $1187200 |
| **1/31/22** | $1187507 | $1161622 |
| **2/28/22** | $1167282 | $1148663 |
| **3/31/22** | $1132697 | $1116751 |
| **4/30/22** | $1082401 | $1074373 |
| **5/31/22** | $1087078 | $1081300 |
| **6/30/22** | $1056362 | $1064336 |
| **7/31/22** | $1083586 | $1090343 |
| **8/31/22** | $1053998 | $1059533 |
| **9/30/22** | $1004599 | $1013755 |
| **10/31/22** | $985429 | $1000624 |
| **11/30/22** | $1023538 | $1037423 |
| **12/31/22** | $1020477 | $1032743 |
| **1/31/23** | $1057961 | $1064515 |
| **2/28/23** | $1031811 | $1036991 |
| **3/31/23** | $1048876 | $1063333 |
| **4/30/23** | $1053891 | $1069778 |
| **5/31/23** | $1043165 | $1058130 |
| **6/30/23** | $1038675 | $1054356 |
| **7/31/23** | $1039847 | $1053621 |
| **8/31/23** | $1034358 | $1046891 |
| **9/30/23** | $1007587 | $1020288 |
| **10/31/23** | $989331 | $1004186 |
| **11/30/23** | $1035431 | $1049662 |
| **12/31/23** | $1076862 | $1089842 |
| **1/31/24** | $1078077 | $1086849 |
| **2/29/24** | $1065316 | $1071494 |
| **3/31/24** | $1076232 | $1081388 |
| **4/30/24** | $1048285 | $1054074 |
| **5/31/24** | $1070075 | $1071944 |
| **6/30/24** | $1077876 | $1082092 |
| **7/31/24** | $1105292 | $1107367 |
| **8/31/24** | $1118536 | $1123279 |
| **9/30/24** | $1133395 | $1138319 |
| **10/31/24** | $1103526 | $1110090 |
| **11/30/24** | $1118521 | $1121827 |
| **12/31/24** | $1098892 | $1103468 |
| **1/31/25** | $1109582 | $1109322 |
| **2/28/25** | $1136210 | $1133729 |
| **3/31/25** | $1135307 | $1134155 |
| **4/30/25** | $1134546 | $1138613 |
| **5/31/25** | $1124834 | $1130460 |
| **6/30/25** | $1145998 | $1147843 |
| **7/31/25** | $1145023 | $1144815 |
| **8/31/25** | $1159213 | $1158507 |
| **9/30/25** | $1172998 | $1171145 |
| **10/31/25** | $1184290 | $1178462 |
| **11/30/25** | $1192142 | $1185785 |
| **12/31/25** | $1189872 | $1184031 |
| **1/31/26** | $1194667 | $1185295 |
| **2/28/26** | $1214809 | $1204706 |
| **3/31/26** | $1184999 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Administrative Class | 4.38% | (0.07%) | 1.71% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Administrative Class: PRFAX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0405TSRAR_033126

# Class C: PTGCX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $247 | 2.43% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of Class C shares (2/3/2020), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by Class C shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g20a98.jpg)

---

| | | |
|:---|:---|:---|
| | **Class C (excluding sales charge)** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $10000 | $10000 |
| **4/30/16** | $10046 | $10038 |
| **5/31/16** | $10066 | $10041 |
| **6/30/16** | $10182 | $10221 |
| **7/31/16** | $10286 | $10286 |
| **8/31/16** | $10265 | $10274 |
| **9/30/16** | $10282 | $10268 |
| **10/31/16** | $10217 | $10190 |
| **11/30/16** | $9956 | $9949 |
| **12/31/16** | $10017 | $9963 |
| **1/31/17** | $10082 | $9982 |
| **2/28/17** | $10145 | $10049 |
| **3/31/17** | $10133 | $10044 |
| **4/30/17** | $10196 | $10122 |
| **5/31/17** | $10261 | $10199 |
| **6/30/17** | $10257 | $10189 |
| **7/31/17** | $10317 | $10233 |
| **8/31/17** | $10424 | $10325 |
| **9/30/17** | $10386 | $10276 |
| **10/31/17** | $10370 | $10282 |
| **11/30/17** | $10326 | $10268 |
| **12/31/17** | $10345 | $10316 |
| **1/31/18** | $10226 | $10197 |
| **2/28/18** | $10143 | $10100 |
| **3/31/18** | $10163 | $10165 |
| **4/30/18** | $10057 | $10089 |
| **5/31/18** | $10105 | $10161 |
| **6/30/18** | $10096 | $10149 |
| **7/31/18** | $10108 | $10151 |
| **8/31/18** | $10180 | $10216 |
| **9/30/18** | $10100 | $10151 |
| **10/31/18** | $10025 | $10070 |
| **11/30/18** | $10029 | $10131 |
| **12/31/18** | $10147 | $10317 |
| **1/31/19** | $10263 | $10426 |
| **2/28/19** | $10277 | $10420 |
| **3/31/19** | $10430 | $10620 |
| **4/30/19** | $10446 | $10623 |
| **5/31/19** | $10617 | $10812 |
| **6/30/19** | $10739 | $10947 |
| **7/31/19** | $10742 | $10971 |
| **8/31/19** | $11036 | $11256 |
| **9/30/19** | $10968 | $11196 |
| **10/31/19** | $11008 | $11230 |
| **11/30/19** | $10965 | $11224 |
| **12/31/19** | $10927 | $11216 |
| **1/31/20** | $11188 | $11432 |
| **2/29/20** | $11318 | $11638 |
| **3/31/20** | $11075 | $11569 |
| **4/30/20** | $11318 | $11775 |
| **5/31/20** | $11380 | $11830 |
| **6/30/20** | $11501 | $11904 |
| **7/31/20** | $11705 | $12082 |
| **8/31/20** | $11658 | $11984 |
| **9/30/20** | $11658 | $11978 |
| **10/31/20** | $11610 | $11924 |
| **11/30/20** | $11752 | $12041 |
| **12/31/20** | $11774 | $12058 |
| **1/31/21** | $11720 | $11971 |
| **2/28/21** | $11559 | $11799 |
| **3/31/21** | $11385 | $11651 |
| **4/30/21** | $11481 | $11743 |
| **5/31/21** | $11503 | $11782 |
| **6/30/21** | $11598 | $11864 |
| **7/31/21** | $11705 | $11997 |
| **8/31/21** | $11678 | $11974 |
| **9/30/21** | $11589 | $11871 |
| **10/31/21** | $11537 | $11867 |
| **11/30/21** | $11521 | $11902 |
| **12/31/21** | $11511 | $11872 |
| **1/31/22** | $11272 | $11616 |
| **2/28/22** | $11072 | $11487 |
| **3/31/22** | $10736 | $11168 |
| **4/30/22** | $10251 | $10744 |
| **5/31/22** | $10288 | $10813 |
| **6/30/22** | $9990 | $10643 |
| **7/31/22** | $10240 | $10903 |
| **8/31/22** | $9952 | $10595 |
| **9/30/22** | $9478 | $10138 |
| **10/31/22** | $9290 | $10006 |
| **11/30/22** | $9642 | $10374 |
| **12/31/22** | $9606 | $10327 |
| **1/31/23** | $9952 | $10645 |
| **2/28/23** | $9699 | $10370 |
| **3/31/23** | $9851 | $10633 |
| **4/30/23** | $9892 | $10698 |
| **5/31/23** | $9783 | $10581 |
| **6/30/23** | $9733 | $10544 |
| **7/31/23** | $9737 | $10536 |
| **8/31/23** | $9679 | $10469 |
| **9/30/23** | $9421 | $10203 |
| **10/31/23** | $9243 | $10042 |
| **11/30/23** | $9667 | $10497 |
| **12/31/23** | $10046 | $10898 |
| **1/31/24** | $10050 | $10868 |
| **2/29/24** | $9924 | $10715 |
| **3/31/24** | $10018 | $10814 |
| **4/30/24** | $9751 | $10541 |
| **5/31/24** | $9945 | $10719 |
| **6/30/24** | $10011 | $10821 |
| **7/31/24** | $10258 | $11074 |
| **8/31/24** | $10373 | $11233 |
| **9/30/24** | $10503 | $11383 |
| **10/31/24** | $10218 | $11101 |
| **11/30/24** | $10349 | $11218 |
| **12/31/24** | $10160 | $11035 |
| **1/31/25** | $10251 | $11093 |
| **2/28/25** | $10490 | $11337 |
| **3/31/25** | $10474 | $11342 |
| **4/30/25** | $10460 | $11386 |
| **5/31/25** | $10362 | $11305 |
| **6/30/25** | $10550 | $11478 |
| **7/31/25** | $10533 | $11448 |
| **8/31/25** | $10655 | $11585 |
| **9/30/25** | $10775 | $11711 |
| **10/31/25** | $10869 | $11785 |
| **11/30/25** | $10934 | $11858 |
| **12/31/25** | $10905 | $11840 |
| **1/31/26** | $10940 | $11853 |
| **2/28/26** | $11117 | $12047 |
| **3/31/26** | $10836 | $11835 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class C (excluding sales charge) | 3.46% | (0.98%) | 0.81% |
| Class C (including sales charge) | 2.46% | (0.98%) | 0.81% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class C shares are subject to a CDSC, which may apply if the shares are redeemed in the first year. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class C: PTGCX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS8289TSRAR_033126

# Institutional Class: PTSAX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $131 | 1.28% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g79z37.jpg)

---

| | | |
|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1005516 | $1003838 |
| **5/31/16** | $1008553 | $1004096 |
| **6/30/16** | $1021150 | $1022137 |
| **7/31/16** | $1032534 | $1028599 |
| **8/31/16** | $1031411 | $1027423 |
| **9/30/16** | $1034154 | $1026821 |
| **10/31/16** | $1028526 | $1018967 |
| **11/30/16** | $1003262 | $994865 |
| **12/31/16** | $1010414 | $996268 |
| **1/31/17** | $1017910 | $998223 |
| **2/28/17** | $1025148 | $1004932 |
| **3/31/17** | $1024916 | $1004405 |
| **4/30/17** | $1032278 | $1012156 |
| **5/31/17** | $1039891 | $1019947 |
| **6/30/17** | $1040462 | $1018920 |
| **7/31/17** | $1047614 | $1023305 |
| **8/31/17** | $1059515 | $1032484 |
| **9/30/17** | $1056604 | $1027566 |
| **10/31/17** | $1056034 | $1028161 |
| **11/30/17** | $1052517 | $1026841 |
| **12/31/17** | $1055449 | $1031554 |
| **1/31/18** | $1044399 | $1019674 |
| **2/28/18** | $1036858 | $1010008 |
| **3/31/18** | $1039839 | $1016485 |
| **4/30/18** | $1030008 | $1008925 |
| **5/31/18** | $1035962 | $1016126 |
| **6/30/18** | $1035973 | $1014876 |
| **7/31/18** | $1038182 | $1015117 |
| **8/31/18** | $1046629 | $1021649 |
| **9/30/18** | $1039393 | $1015070 |
| **10/31/18** | $1032663 | $1007049 |
| **11/30/18** | $1034061 | $1013060 |
| **12/31/18** | $1047229 | $1031671 |
| **1/31/19** | $1060230 | $1042627 |
| **2/28/19** | $1062623 | $1042023 |
| **3/31/19** | $1079478 | $1062032 |
| **4/30/19** | $1082183 | $1062304 |
| **5/31/19** | $1100991 | $1081161 |
| **6/30/19** | $1114649 | $1094739 |
| **7/31/19** | $1116083 | $1097147 |
| **8/31/19** | $1147677 | $1125576 |
| **9/30/19** | $1141700 | $1119581 |
| **10/31/19** | $1146965 | $1122953 |
| **11/30/19** | $1143605 | $1122381 |
| **12/31/19** | $1140752 | $1121599 |
| **1/31/20** | $1169080 | $1143184 |
| **2/29/20** | $1183739 | $1163759 |
| **3/31/20** | $1159410 | $1156911 |
| **4/30/20** | $1185883 | $1177476 |
| **5/31/20** | $1193469 | $1182959 |
| **6/30/20** | $1207246 | $1190410 |
| **7/31/20** | $1229839 | $1208191 |
| **8/31/20** | $1226024 | $1198439 |
| **9/30/20** | $1227189 | $1197782 |
| **10/31/20** | $1223398 | $1192434 |
| **11/30/20** | $1239456 | $1204134 |
| **12/31/20** | $1243069 | $1205794 |
| **1/31/21** | $1238547 | $1197148 |
| **2/28/21** | $1222622 | $1179861 |
| **3/31/21** | $1204129 | $1165128 |
| **4/30/21** | $1216806 | $1174333 |
| **5/31/21** | $1220151 | $1178169 |
| **6/30/21** | $1231394 | $1186447 |
| **7/31/21** | $1244047 | $1199713 |
| **8/31/21** | $1242290 | $1197429 |
| **9/30/21** | $1234086 | $1187061 |
| **10/31/21** | $1229698 | $1186734 |
| **11/30/21** | $1229193 | $1190245 |
| **12/31/21** | $1229408 | $1187200 |
| **1/31/22** | $1204944 | $1161622 |
| **2/28/22** | $1184650 | $1148663 |
| **3/31/22** | $1149797 | $1116751 |
| **4/30/22** | $1098981 | $1074373 |
| **5/31/22** | $1103954 | $1081300 |
| **6/30/22** | $1072982 | $1064336 |
| **7/31/22** | $1100864 | $1090343 |
| **8/31/22** | $1071036 | $1059533 |
| **9/30/22** | $1021069 | $1013755 |
| **10/31/22** | $1001785 | $1000624 |
| **11/30/22** | $1040735 | $1037423 |
| **12/31/22** | $1037859 | $1032743 |
| **1/31/23** | $1076194 | $1064515 |
| **2/28/23** | $1049798 | $1036991 |
| **3/31/23** | $1067398 | $1063333 |
| **4/30/23** | $1072707 | $1069778 |
| **5/31/23** | $1062016 | $1058130 |
| **6/30/23** | $1057676 | $1054356 |
| **7/31/23** | $1059079 | $1053621 |
| **8/31/23** | $1053710 | $1046891 |
| **9/30/23** | $1026659 | $1020288 |
| **10/31/23** | $1008264 | $1004186 |
| **11/30/23** | $1055459 | $1049662 |
| **12/31/23** | $1097928 | $1089842 |
| **1/31/24** | $1099389 | $1086849 |
| **2/29/24** | $1086591 | $1071494 |
| **3/31/24** | $1097955 | $1081388 |
| **4/30/24** | $1069665 | $1054074 |
| **5/31/24** | $1092145 | $1071944 |
| **6/30/24** | $1100318 | $1082092 |
| **7/31/24** | $1128544 | $1107367 |
| **8/31/24** | $1142324 | $1123279 |
| **9/30/24** | $1157719 | $1138319 |
| **10/31/24** | $1127451 | $1110090 |
| **11/30/24** | $1143007 | $1121827 |
| **12/31/24** | $1123189 | $1103468 |
| **1/31/25** | $1134362 | $1109322 |
| **2/28/25** | $1161803 | $1133729 |
| **3/31/25** | $1161109 | $1134155 |
| **4/30/25** | $1160566 | $1138613 |
| **5/31/25** | $1150882 | $1130460 |
| **6/30/25** | $1172765 | $1147843 |
| **7/31/25** | $1172016 | $1144815 |
| **8/31/25** | $1186799 | $1158507 |
| **9/30/25** | $1201151 | $1171145 |
| **10/31/25** | $1212987 | $1178462 |
| **11/30/25** | $1221261 | $1185785 |
| **12/31/25** | $1219202 | $1184031 |
| **1/31/26** | $1224375 | $1185295 |
| **2/28/26** | $1245255 | $1204706 |
| **3/31/26** | $1214948 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 4.64% | 0.18% | 1.97% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PTSAX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS0105TSRAR_033126

# I-2: PRAPX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $141 | 1.38% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g18a89.jpg)

---

| | | |
|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1005430 | $1003838 |
| **5/31/16** | $1008385 | $1004096 |
| **6/30/16** | $1020897 | $1022137 |
| **7/31/16** | $1032191 | $1028599 |
| **8/31/16** | $1030981 | $1027423 |
| **9/30/16** | $1033632 | $1026821 |
| **10/31/16** | $1027925 | $1018967 |
| **11/30/16** | $1002592 | $994865 |
| **12/31/16** | $1009648 | $996268 |
| **1/31/17** | $1017058 | $998223 |
| **2/28/17** | $1024211 | $1004932 |
| **3/31/17** | $1023887 | $1004405 |
| **4/30/17** | $1031162 | $1012156 |
| **5/31/17** | $1038679 | $1019947 |
| **6/30/17** | $1039158 | $1018920 |
| **7/31/17** | $1046219 | $1023305 |
| **8/31/17** | $1058015 | $1032484 |
| **9/30/17** | $1055019 | $1027566 |
| **10/31/17** | $1054363 | $1028161 |
| **11/30/17** | $1050765 | $1026841 |
| **12/31/17** | $1053601 | $1031554 |
| **1/31/18** | $1042484 | $1019674 |
| **2/28/18** | $1034878 | $1010008 |
| **3/31/18** | $1037763 | $1016485 |
| **4/30/18** | $1027869 | $1008925 |
| **5/31/18** | $1033724 | $1016126 |
| **6/30/18** | $1033647 | $1014876 |
| **7/31/18** | $1035766 | $1015117 |
| **8/31/18** | $1044098 | $1021649 |
| **9/30/18** | $1036802 | $1015070 |
| **10/31/18** | $1030002 | $1007049 |
| **11/30/18** | $1031307 | $1013060 |
| **12/31/18** | $1044356 | $1031671 |
| **1/31/19** | $1057235 | $1042627 |
| **2/28/19** | $1059541 | $1042023 |
| **3/31/19** | $1076257 | $1062032 |
| **4/30/19** | $1078866 | $1062304 |
| **5/31/19** | $1097521 | $1081161 |
| **6/30/19** | $1111053 | $1094739 |
| **7/31/19** | $1112388 | $1097147 |
| **8/31/19** | $1143776 | $1125576 |
| **9/30/19** | $1137733 | $1119581 |
| **10/31/19** | $1142884 | $1122953 |
| **11/30/19** | $1139439 | $1122381 |
| **12/31/19** | $1136501 | $1121599 |
| **1/31/20** | $1164623 | $1143184 |
| **2/29/20** | $1179137 | $1163759 |
| **3/31/20** | $1154809 | $1156911 |
| **4/30/20** | $1181082 | $1177476 |
| **5/31/20** | $1188538 | $1182959 |
| **6/30/20** | $1202160 | $1190410 |
| **7/31/20** | $1224548 | $1208191 |
| **8/31/20** | $1220651 | $1198439 |
| **9/30/20** | $1221711 | $1197782 |
| **10/31/20** | $1217830 | $1192434 |
| **11/30/20** | $1233718 | $1204134 |
| **12/31/20** | $1237201 | $1205794 |
| **1/31/21** | $1232606 | $1197148 |
| **2/28/21** | $1216664 | $1179861 |
| **3/31/21** | $1198158 | $1165128 |
| **4/30/21** | $1210668 | $1174333 |
| **5/31/21** | $1213900 | $1178169 |
| **6/30/21** | $1224986 | $1186447 |
| **7/31/21** | $1237465 | $1199713 |
| **8/31/21** | $1235616 | $1197429 |
| **9/30/21** | $1227355 | $1187061 |
| **10/31/21** | $1222887 | $1186734 |
| **11/30/21** | $1222284 | $1190245 |
| **12/31/21** | $1222388 | $1187200 |
| **1/31/22** | $1197968 | $1161622 |
| **2/28/22** | $1177701 | $1148663 |
| **3/31/22** | $1142954 | $1116751 |
| **4/30/22** | $1092345 | $1074373 |
| **5/31/22** | $1097199 | $1081300 |
| **6/30/22** | $1066328 | $1064336 |
| **7/31/22** | $1093945 | $1090343 |
| **8/31/22** | $1064213 | $1059533 |
| **9/30/22** | $1014473 | $1013755 |
| **10/31/22** | $995235 | $1000624 |
| **11/30/22** | $1033845 | $1037423 |
| **12/31/22** | $1030893 | $1032743 |
| **1/31/23** | $1068886 | $1064515 |
| **2/28/23** | $1042588 | $1036991 |
| **3/31/23** | $1059972 | $1063333 |
| **4/30/23** | $1065163 | $1069778 |
| **5/31/23** | $1054456 | $1058130 |
| **6/30/23** | $1050056 | $1054356 |
| **7/31/23** | $1051366 | $1053621 |
| **8/31/23** | $1045949 | $1046891 |
| **9/30/23** | $1019010 | $1020288 |
| **10/31/23** | $1000670 | $1004186 |
| **11/30/23** | $1047424 | $1049662 |
| **12/31/23** | $1089476 | $1089842 |
| **1/31/24** | $1090838 | $1086849 |
| **2/29/24** | $1078054 | $1071494 |
| **3/31/24** | $1089238 | $1081388 |
| **4/30/24** | $1061085 | $1054074 |
| **5/31/24** | $1083287 | $1071944 |
| **6/30/24** | $1091311 | $1082092 |
| **7/31/24** | $1119212 | $1107367 |
| **8/31/24** | $1132775 | $1123279 |
| **9/30/24** | $1147955 | $1138319 |
| **10/31/24** | $1117846 | $1110090 |
| **11/30/24** | $1133178 | $1121827 |
| **12/31/24** | $1113435 | $1103468 |
| **1/31/25** | $1124413 | $1109322 |
| **2/28/25** | $1151527 | $1133729 |
| **3/31/25** | $1150748 | $1134155 |
| **4/30/25** | $1150116 | $1138613 |
| **5/31/25** | $1140420 | $1130460 |
| **6/30/25** | $1162014 | $1147843 |
| **7/31/25** | $1161173 | $1144815 |
| **8/31/25** | $1175717 | $1158507 |
| **9/30/25** | $1189841 | $1171145 |
| **10/31/25** | $1201457 | $1178462 |
| **11/30/25** | $1209560 | $1185785 |
| **12/31/25** | $1207415 | $1184031 |
| **1/31/26** | $1212436 | $1185295 |
| **2/28/26** | $1233018 | $1204706 |
| **3/31/26** | $1202910 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 4.53% | 0.08% | 1.86% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PRAPX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS1947TSRAR_033126

# I-3: PTRSX

# PIMCO Total Return ESG Fund

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return ESG Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-3 | $146 | 1.43% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as they appreciated relative to the U.S. dollar.

* Long exposure to securitized credit, including commercial mortgage-backed securities, contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. For periods prior to the inception date of I-3 shares (7/29/2022), performance information shown in the graph and table for these shares is based on the performance of the Fund's Institutional Class shares, adjusted to reflect the fees and other expenses paid by I-3 shares. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g21v84.jpg)

---

| | | |
|:---|:---|:---|
| | **I-3** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1005393 | $1003838 |
| **5/31/16** | $1008301 | $1004096 |
| **6/30/16** | $1020771 | $1022137 |
| **7/31/16** | $1032021 | $1028599 |
| **8/31/16** | $1030767 | $1027423 |
| **9/30/16** | $1033382 | $1026821 |
| **10/31/16** | $1027628 | $1018967 |
| **11/30/16** | $1002262 | $994865 |
| **12/31/16** | $1009279 | $996268 |
| **1/31/17** | $1016638 | $998223 |
| **2/28/17** | $1023750 | $1004932 |
| **3/31/17** | $1023389 | $1004405 |
| **4/30/17** | $1030613 | $1012156 |
| **5/31/17** | $1038082 | $1019947 |
| **6/30/17** | $1038524 | $1018920 |
| **7/31/17** | $1045530 | $1023305 |
| **8/31/17** | $1057274 | $1032484 |
| **9/30/17** | $1054239 | $1027566 |
| **10/31/17** | $1053536 | $1028161 |
| **11/30/17** | $1049897 | $1026841 |
| **12/31/17** | $1052688 | $1031554 |
| **1/31/18** | $1041534 | $1019674 |
| **2/28/18** | $1033894 | $1010008 |
| **3/31/18** | $1036735 | $1016485 |
| **4/30/18** | $1026806 | $1008925 |
| **5/31/18** | $1032611 | $1016126 |
| **6/30/18** | $1032495 | $1014876 |
| **7/31/18** | $1034565 | $1015117 |
| **8/31/18** | $1042851 | $1021649 |
| **9/30/18** | $1035513 | $1015070 |
| **10/31/18** | $1028677 | $1007049 |
| **11/30/18** | $1029943 | $1013060 |
| **12/31/18** | $1042927 | $1031671 |
| **1/31/19** | $1055741 | $1042627 |
| **2/28/19** | $1058003 | $1042023 |
| **3/31/19** | $1074649 | $1062032 |
| **4/30/19** | $1077210 | $1062304 |
| **5/31/19** | $1095793 | $1081161 |
| **6/30/19** | $1109251 | $1094739 |
| **7/31/19** | $1110537 | $1097147 |
| **8/31/19** | $1141830 | $1125576 |
| **9/30/19** | $1135744 | $1119581 |
| **10/31/19** | $1140836 | $1122953 |
| **11/30/19** | $1137355 | $1122381 |
| **12/31/19** | $1134373 | $1121599 |
| **1/31/20** | $1162397 | $1143184 |
| **2/29/20** | $1176834 | $1163759 |
| **3/31/20** | $1152501 | $1156911 |
| **4/30/20** | $1178673 | $1177476 |
| **5/31/20** | $1186064 | $1182959 |
| **6/30/20** | $1199608 | $1190410 |
| **7/31/20** | $1221904 | $1208191 |
| **8/31/20** | $1217959 | $1198439 |
| **9/30/20** | $1218967 | $1197782 |
| **10/31/20** | $1215046 | $1192434 |
| **11/30/20** | $1230844 | $1204134 |
| **12/31/20** | $1234276 | $1205794 |
| **1/31/21** | $1229630 | $1197148 |
| **2/28/21** | $1213679 | $1179861 |
| **3/31/21** | $1195168 | $1165128 |
| **4/30/21** | $1207603 | $1174333 |
| **5/31/21** | $1210768 | $1178169 |
| **6/30/21** | $1221775 | $1186447 |
| **7/31/21** | $1234172 | $1199713 |
| **8/31/21** | $1232273 | $1197429 |
| **9/30/21** | $1223983 | $1187061 |
| **10/31/21** | $1219476 | $1186734 |
| **11/30/21** | $1218825 | $1190245 |
| **12/31/21** | $1218883 | $1187200 |
| **1/31/22** | $1194475 | $1161622 |
| **2/28/22** | $1174223 | $1148663 |
| **3/31/22** | $1139530 | $1116751 |
| **4/30/22** | $1089031 | $1074373 |
| **5/31/22** | $1093821 | $1081300 |
| **6/30/22** | $1063002 | $1064336 |
| **7/31/22** | $1090497 | $1090343 |
| **8/31/22** | $1060827 | $1059533 |
| **9/30/22** | $1011230 | $1013755 |
| **10/31/22** | $992027 | $1000624 |
| **11/30/22** | $1030474 | $1037423 |
| **12/31/22** | $1027487 | $1032743 |
| **1/31/23** | $1065329 | $1064515 |
| **2/28/23** | $1039078 | $1036991 |
| **3/31/23** | $1056359 | $1063333 |
| **4/30/23** | $1061491 | $1069778 |
| **5/31/23** | $1050778 | $1058130 |
| **6/30/23** | $1046347 | $1054356 |
| **7/31/23** | $1047612 | $1053621 |
| **8/31/23** | $1042171 | $1046891 |
| **9/30/23** | $1015286 | $1020288 |
| **10/31/23** | $996975 | $1004186 |
| **11/30/23** | $1043516 | $1049662 |
| **12/31/23** | $1085364 | $1089842 |
| **1/31/24** | $1086673 | $1086849 |
| **2/29/24** | $1073897 | $1071494 |
| **3/31/24** | $1084993 | $1081388 |
| **4/30/24** | $1056905 | $1054074 |
| **5/31/24** | $1078972 | $1071944 |
| **6/30/24** | $1086921 | $1082092 |
| **7/31/24** | $1114664 | $1107367 |
| **8/31/24** | $1128122 | $1123279 |
| **9/30/24** | $1143195 | $1138319 |
| **10/31/24** | $1113165 | $1110090 |
| **11/30/24** | $1128385 | $1121827 |
| **12/31/24** | $1108678 | $1103468 |
| **1/31/25** | $1119562 | $1109322 |
| **2/28/25** | $1146517 | $1133729 |
| **3/31/25** | $1145701 | $1134155 |
| **4/30/25** | $1145025 | $1138613 |
| **5/31/25** | $1135322 | $1130460 |
| **6/30/25** | $1156773 | $1147843 |
| **7/31/25** | $1155886 | $1144815 |
| **8/31/25** | $1170313 | $1158507 |
| **9/30/25** | $1184324 | $1171145 |
| **10/31/25** | $1195833 | $1178462 |
| **11/30/25** | $1203854 | $1185785 |
| **12/31/25** | $1201666 | $1184031 |
| **1/31/26** | $1206612 | $1185295 |
| **2/28/26** | $1227049 | $1204706 |
| **3/31/26** | $1197037 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-3 | 4.48% | 0.03% | 1.81% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $1671136 |
| # of Portfolio Holdings | 1064 |
| Portfolio Turnover Rate | 187% |
| Total Net Advisory Fees Paid During the Reporting Period | $4101 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 42.3% |
| Corporate Bonds & Notes | 32.3% |
| U.S. Treasury Obligations | 24.9% |
| Asset-Backed Securities | 9.1% |
| Sovereign Issues | 9.0% |
| Non-Agency Mortgage-Backed Securities | 7.3% |
| Municipal Bonds & Notes | 0.5% |
| Loan Participations and Assignments | 0.2% |
| Short-Term Instruments | 0.6% |
| Financial Derivative Instruments | 0.7% |
| Other Assets and Liabilities, Net | (26.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.17% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-3: PTRSX
![Image](g112232g01x08.jpg)

# PIMCO Total Return ESG Fund
Annual Shareholder Report \|

March 31, 2026

PIMS2237TSRAR_033126

# Institutional Class: PMBIX

# PIMCO Total Return Fund II

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund II (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $124 | 1.21% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as spreads tightened.

* Long exposure to securitized credit including non-agency residential mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure the long end, contributed to relative performance versus the Index, as yields rose.

* Guideline-imposed underweight exposure to emerging markets external debt detracted from relative performance versus the Index, as spreads tightened.

* Long exposure to intermediate maturity U.S. Treasury-Inflation Protected Securities detracted from relative performance in 2025 versus the Index, as intermediate inflation expectations fell.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g65m50.jpg)

---

| | | |
|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1006248 | $1003838 |
| **5/31/16** | $1007875 | $1004096 |
| **6/30/16** | $1025958 | $1022137 |
| **7/31/16** | $1035696 | $1028599 |
| **8/31/16** | $1033897 | $1027423 |
| **9/30/16** | $1037543 | $1026821 |
| **10/31/16** | $1030842 | $1018967 |
| **11/30/16** | $1004409 | $994865 |
| **12/31/16** | $1011452 | $996268 |
| **1/31/17** | $1017008 | $998223 |
| **2/28/17** | $1026036 | $1004932 |
| **3/31/17** | $1025987 | $1004405 |
| **4/30/17** | $1035186 | $1012156 |
| **5/31/17** | $1043644 | $1019947 |
| **6/30/17** | $1042448 | $1018920 |
| **7/31/17** | $1047409 | $1023305 |
| **8/31/17** | $1060108 | $1032484 |
| **9/30/17** | $1054538 | $1027566 |
| **10/31/17** | $1055395 | $1028161 |
| **11/30/17** | $1053401 | $1026841 |
| **12/31/17** | $1058612 | $1031554 |
| **1/31/18** | $1045298 | $1019674 |
| **2/28/18** | $1037500 | $1010008 |
| **3/31/18** | $1043157 | $1016485 |
| **4/30/18** | $1036625 | $1008925 |
| **5/31/18** | $1043483 | $1016126 |
| **6/30/18** | $1045283 | $1014876 |
| **7/31/18** | $1045622 | $1015117 |
| **8/31/18** | $1053998 | $1021649 |
| **9/30/18** | $1046316 | $1015070 |
| **10/31/18** | $1038886 | $1007049 |
| **11/30/18** | $1043837 | $1013060 |
| **12/31/18** | $1061790 | $1031671 |
| **1/31/19** | $1074457 | $1042627 |
| **2/28/19** | $1075946 | $1042023 |
| **3/31/19** | $1095696 | $1062032 |
| **4/30/19** | $1096254 | $1062304 |
| **5/31/19** | $1116391 | $1081161 |
| **6/30/19** | $1128801 | $1094739 |
| **7/31/19** | $1131612 | $1097147 |
| **8/31/19** | $1161996 | $1125576 |
| **9/30/19** | $1154207 | $1119581 |
| **10/31/19** | $1156778 | $1122953 |
| **11/30/19** | $1154889 | $1122381 |
| **12/31/19** | $1151805 | $1121599 |
| **1/31/20** | $1177912 | $1143184 |
| **2/29/20** | $1199080 | $1163759 |
| **3/31/20** | $1181682 | $1156911 |
| **4/30/20** | $1204183 | $1177476 |
| **5/31/20** | $1211069 | $1182959 |
| **6/30/20** | $1225496 | $1190410 |
| **7/31/20** | $1241982 | $1208191 |
| **8/31/20** | $1238094 | $1198439 |
| **9/30/20** | $1240173 | $1197782 |
| **10/31/20** | $1232682 | $1192434 |
| **11/30/20** | $1245343 | $1204134 |
| **12/31/20** | $1247923 | $1205794 |
| **1/31/21** | $1241709 | $1197148 |
| **2/28/21** | $1221651 | $1179861 |
| **3/31/21** | $1205376 | $1165128 |
| **4/30/21** | $1217006 | $1174333 |
| **5/31/21** | $1219566 | $1178169 |
| **6/30/21** | $1229800 | $1186447 |
| **7/31/21** | $1245073 | $1199713 |
| **8/31/21** | $1241224 | $1197429 |
| **9/30/21** | $1231085 | $1187061 |
| **10/31/21** | $1228599 | $1186734 |
| **11/30/21** | $1232564 | $1190245 |
| **12/31/21** | $1229021 | $1187200 |
| **1/31/22** | $1205866 | $1161622 |
| **2/28/22** | $1191941 | $1148663 |
| **3/31/22** | $1153789 | $1116751 |
| **4/30/22** | $1109376 | $1074373 |
| **5/31/22** | $1112502 | $1081300 |
| **6/30/22** | $1092560 | $1064336 |
| **7/31/22** | $1117834 | $1090343 |
| **8/31/22** | $1087681 | $1059533 |
| **9/30/22** | $1040861 | $1013755 |
| **10/31/22** | $1022318 | $1000624 |
| **11/30/22** | $1059972 | $1037423 |
| **12/31/22** | $1055401 | $1032743 |
| **1/31/23** | $1090709 | $1064515 |
| **2/28/23** | $1067080 | $1036991 |
| **3/31/23** | $1091518 | $1063333 |
| **4/30/23** | $1097090 | $1069778 |
| **5/31/23** | $1087101 | $1058130 |
| **6/30/23** | $1085226 | $1054356 |
| **7/31/23** | $1084249 | $1053621 |
| **8/31/23** | $1078208 | $1046891 |
| **9/30/23** | $1052129 | $1020288 |
| **10/31/23** | $1033947 | $1004186 |
| **11/30/23** | $1080537 | $1049662 |
| **12/31/23** | $1123153 | $1089842 |
| **1/31/24** | $1125048 | $1086849 |
| **2/29/24** | $1110633 | $1071494 |
| **3/31/24** | $1121299 | $1081388 |
| **4/30/24** | $1093609 | $1054074 |
| **5/31/24** | $1114230 | $1071944 |
| **6/30/24** | $1124629 | $1082092 |
| **7/31/24** | $1150413 | $1107367 |
| **8/31/24** | $1166427 | $1123279 |
| **9/30/24** | $1183528 | $1138319 |
| **10/31/24** | $1154851 | $1110090 |
| **11/30/24** | $1169710 | $1121827 |
| **12/31/24** | $1151770 | $1103468 |
| **1/31/25** | $1161010 | $1109322 |
| **2/28/25** | $1188422 | $1133729 |
| **3/31/25** | $1189492 | $1134155 |
| **4/30/25** | $1192108 | $1138613 |
| **5/31/25** | $1183286 | $1130460 |
| **6/30/25** | $1201473 | $1147843 |
| **7/31/25** | $1199657 | $1144815 |
| **8/31/25** | $1216757 | $1158507 |
| **9/30/25** | $1229136 | $1171145 |
| **10/31/25** | $1239215 | $1178462 |
| **11/30/25** | $1247293 | $1185785 |
| **12/31/25** | $1246720 | $1184031 |
| **1/31/26** | $1251414 | $1185295 |
| **2/28/26** | $1269802 | $1204706 |
| **3/31/26** | $1244317 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 4.61% | 0.64% | 2.21% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $602207 |
| # of Portfolio Holdings | 718 |
| Portfolio Turnover Rate | 280% |
| Total Net Advisory Fees Paid During the Reporting Period | $1395 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 57.5% |
| U.S. Government Agencies | 39.6% |
| Corporate Bonds & Notes | 25.0% |
| Non-Agency Mortgage-Backed Securities | 9.5% |
| Asset-Backed Securities | 3.4% |
| Preferred Securities | 0.4% |
| Municipal Bonds & Notes | 0.3% |
| Short-Term Instruments | 0.1% |
| Affiliated Investments | 5.9% |
| Financial Derivative Instruments | (0.0%)<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (41.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PMBIX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund II
Annual Shareholder Report \|

March 31, 2026

PIMS0153TSRAR_033126

# I-2: PMTPX

# PIMCO Total Return Fund II

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund II (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| I-2 | $134 | 1.31% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as spreads tightened.

* Long exposure to securitized credit including non-agency residential mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure the long end, contributed to relative performance versus the Index, as yields rose.

* Guideline-imposed underweight exposure to emerging markets external debt detracted from relative performance versus the Index, as spreads tightened.

* Long exposure to intermediate maturity U.S. Treasury-Inflation Protected Securities detracted from relative performance in 2025 versus the Index, as intermediate inflation expectations fell.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g95o75.jpg)

---

| | | |
|:---|:---|:---|
| | **I-2** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1000000 |
| **4/30/16** | $1006163 | $1003838 |
| **5/31/16** | $1007707 | $1004096 |
| **6/30/16** | $1025704 | $1022137 |
| **7/31/16** | $1035352 | $1028599 |
| **8/31/16** | $1033466 | $1027423 |
| **9/30/16** | $1037021 | $1026821 |
| **10/31/16** | $1030242 | $1018967 |
| **11/30/16** | $1003740 | $994865 |
| **12/31/16** | $1010688 | $996268 |
| **1/31/17** | $1016160 | $998223 |
| **2/28/17** | $1025104 | $1004932 |
| **3/31/17** | $1024964 | $1004405 |
| **4/30/17** | $1034074 | $1012156 |
| **5/31/17** | $1042436 | $1019947 |
| **6/30/17** | $1041150 | $1018920 |
| **7/31/17** | $1046021 | $1023305 |
| **8/31/17** | $1058614 | $1032484 |
| **9/30/17** | $1052963 | $1027566 |
| **10/31/17** | $1053733 | $1028161 |
| **11/30/17** | $1051655 | $1026841 |
| **12/31/17** | $1056765 | $1031554 |
| **1/31/18** | $1043388 | $1019674 |
| **2/28/18** | $1035526 | $1010008 |
| **3/31/18** | $1041081 | $1016485 |
| **4/30/18** | $1034480 | $1008925 |
| **5/31/18** | $1041236 | $1016126 |
| **6/30/18** | $1042812 | $1014876 |
| **7/31/18** | $1043064 | $1015117 |
| **8/31/18** | $1051322 | $1021649 |
| **9/30/18** | $1043582 | $1015070 |
| **10/31/18** | $1036083 | $1007049 |
| **11/30/18** | $1040933 | $1013060 |
| **12/31/18** | $1058750 | $1031671 |
| **1/31/19** | $1071295 | $1042627 |
| **2/28/19** | $1072695 | $1042023 |
| **3/31/19** | $1092292 | $1062032 |
| **4/30/19** | $1092760 | $1062304 |
| **5/31/19** | $1112737 | $1081161 |
| **6/30/19** | $1125022 | $1094739 |
| **7/31/19** | $1127728 | $1097147 |
| **8/31/19** | $1157906 | $1125576 |
| **9/30/19** | $1150056 | $1119581 |
| **10/31/19** | $1152520 | $1122953 |
| **11/30/19** | $1150544 | $1122381 |
| **12/31/19** | $1147375 | $1121599 |
| **1/31/20** | $1173281 | $1143184 |
| **2/29/20** | $1194276 | $1163759 |
| **3/31/20** | $1176852 | $1156911 |
| **4/30/20** | $1199169 | $1177476 |
| **5/31/20** | $1205929 | $1182959 |
| **6/30/20** | $1220198 | $1190410 |
| **7/31/20** | $1236504 | $1208191 |
| **8/31/20** | $1232535 | $1198439 |
| **9/30/20** | $1234504 | $1197782 |
| **10/31/20** | $1226940 | $1192434 |
| **11/30/20** | $1239444 | $1204134 |
| **12/31/20** | $1241896 | $1205794 |
| **1/31/21** | $1235618 | $1197148 |
| **2/28/21** | $1215564 | $1179861 |
| **3/31/21** | $1199266 | $1165128 |
| **4/30/21** | $1210729 | $1174333 |
| **5/31/21** | $1213180 | $1178169 |
| **6/30/21** | $1223259 | $1186447 |
| **7/31/21** | $1238342 | $1199713 |
| **8/31/21** | $1234413 | $1197429 |
| **9/30/21** | $1224227 | $1187061 |
| **10/31/21** | $1221652 | $1186734 |
| **11/30/21** | $1225494 | $1190245 |
| **12/31/21** | $1221861 | $1187200 |
| **1/31/22** | $1198746 | $1161622 |
| **2/28/22** | $1184812 | $1148663 |
| **3/31/22** | $1146787 | $1116751 |
| **4/30/22** | $1102545 | $1074373 |
| **5/31/22** | $1105560 | $1081300 |
| **6/30/22** | $1085655 | $1064336 |
| **7/31/22** | $1110677 | $1090343 |
| **8/31/22** | $1080625 | $1059533 |
| **9/30/22** | $1034015 | $1013755 |
| **10/31/22** | $1015513 | $1000624 |
| **11/30/22** | $1052831 | $1037423 |
| **12/31/22** | $1048196 | $1032743 |
| **1/31/23** | $1083177 | $1064515 |
| **2/28/23** | $1059630 | $1036991 |
| **3/31/23** | $1083800 | $1063333 |
| **4/30/23** | $1089250 | $1069778 |
| **5/31/23** | $1079241 | $1058130 |
| **6/30/23** | $1077285 | $1054356 |
| **7/31/23** | $1076236 | $1053621 |
| **8/31/23** | $1070154 | $1046891 |
| **9/30/23** | $1044181 | $1020288 |
| **10/31/23** | $1026051 | $1004186 |
| **11/30/23** | $1072208 | $1049662 |
| **12/31/23** | $1114402 | $1089842 |
| **1/31/24** | $1116194 | $1086849 |
| **2/29/24** | $1101806 | $1071494 |
| **3/31/24** | $1112294 | $1081388 |
| **4/30/24** | $1084737 | $1054074 |
| **5/31/24** | $1105092 | $1071944 |
| **6/30/24** | $1115320 | $1082092 |
| **7/31/24** | $1140799 | $1107367 |
| **8/31/24** | $1156557 | $1123279 |
| **9/30/24** | $1173413 | $1138319 |
| **10/31/24** | $1144881 | $1110090 |
| **11/30/24** | $1159517 | $1121827 |
| **12/31/24** | $1141638 | $1103468 |
| **1/31/25** | $1150697 | $1109322 |
| **2/28/25** | $1177778 | $1133729 |
| **3/31/25** | $1178745 | $1134155 |
| **4/30/25** | $1181238 | $1138613 |
| **5/31/25** | $1172395 | $1130460 |
| **6/30/25** | $1190323 | $1147843 |
| **7/31/25** | $1188425 | $1144815 |
| **8/31/25** | $1205263 | $1158507 |
| **9/30/25** | $1217435 | $1171145 |
| **10/31/25** | $1227308 | $1178462 |
| **11/30/25** | $1235211 | $1185785 |
| **12/31/25** | $1234536 | $1184031 |
| **1/31/26** | $1239079 | $1185295 |
| **2/28/26** | $1257194 | $1204706 |
| **3/31/26** | $1231861 | $1183475 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| I-2 | 4.51% | 0.54% | 2.11% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $602207 |
| # of Portfolio Holdings | 718 |
| Portfolio Turnover Rate | 280% |
| Total Net Advisory Fees Paid During the Reporting Period | $1395 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Treasury Obligations | 57.5% |
| U.S. Government Agencies | 39.6% |
| Corporate Bonds & Notes | 25.0% |
| Non-Agency Mortgage-Backed Securities | 9.5% |
| Asset-Backed Securities | 3.4% |
| Preferred Securities | 0.4% |
| Municipal Bonds & Notes | 0.3% |
| Short-Term Instruments | 0.1% |
| Affiliated Investments | 5.9% |
| Financial Derivative Instruments | (0.0%)<sup>Footnote Reference^</sup> |
| Other Assets and Liabilities, Net | (41.7%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |
| &nbsp;&nbsp;Footnote<sup>^</sup> | &nbsp;&nbsp;Rounded value of investments is less than 0.1% of net assets. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.38% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# I-2: PMTPX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund II
Annual Shareholder Report \|

March 31, 2026

PIMS1960TSRAR_033126

# Class A: PTUZX

# PIMCO Total Return Fund IV

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund IV (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $89 | 0.87% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Positioning within corporate credit including overweight exposure to senior financials contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as the asset class outperformed.

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the Singaporean dollar, detracted from relative performance versus the Index, as it appreciated relative to the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g18d12.jpg)

---

| | | |
|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $9629 | $10000 |
| **4/30/16** | $9669 | $10038 |
| **5/31/16** | $9676 | $10041 |
| **6/30/16** | $9815 | $10221 |
| **7/31/16** | $9916 | $10286 |
| **8/31/16** | $9903 | $10274 |
| **9/30/16** | $9928 | $10268 |
| **10/31/16** | $9873 | $10190 |
| **11/30/16** | $9652 | $9949 |
| **12/31/16** | $9689 | $9963 |
| **1/31/17** | $9735 | $9982 |
| **2/28/17** | $9803 | $10049 |
| **3/31/17** | $9797 | $10044 |
| **4/30/17** | $9876 | $10122 |
| **5/31/17** | $9954 | $10199 |
| **6/30/17** | $9958 | $10189 |
| **7/31/17** | $10007 | $10233 |
| **8/31/17** | $10115 | $10325 |
| **9/30/17** | $10079 | $10276 |
| **10/31/17** | $10080 | $10282 |
| **11/30/17** | $10054 | $10268 |
| **12/31/17** | $10096 | $10316 |
| **1/31/18** | $9984 | $10197 |
| **2/28/18** | $9901 | $10100 |
| **3/31/18** | $9926 | $10165 |
| **4/30/18** | $9826 | $10089 |
| **5/31/18** | $9902 | $10161 |
| **6/30/18** | $9901 | $10149 |
| **7/31/18** | $9909 | $10151 |
| **8/31/18** | $9969 | $10216 |
| **9/30/18** | $9900 | $10151 |
| **10/31/18** | $9832 | $10070 |
| **11/30/18** | $9854 | $10131 |
| **12/31/18** | $9983 | $10317 |
| **1/31/19** | $10111 | $10426 |
| **2/28/19** | $10131 | $10420 |
| **3/31/19** | $10302 | $10620 |
| **4/30/19** | $10316 | $10623 |
| **5/31/19** | $10519 | $10812 |
| **6/30/19** | $10653 | $10947 |
| **7/31/19** | $10654 | $10971 |
| **8/31/19** | $10976 | $11256 |
| **9/30/19** | $10906 | $11196 |
| **10/31/19** | $10966 | $11230 |
| **11/30/19** | $10927 | $11224 |
| **12/31/19** | $10908 | $11216 |
| **1/31/20** | $11170 | $11432 |
| **2/29/20** | $11330 | $11638 |
| **3/31/20** | $11007 | $11569 |
| **4/30/20** | $11172 | $11775 |
| **5/31/20** | $11243 | $11830 |
| **6/30/20** | $11394 | $11904 |
| **7/31/20** | $11566 | $12082 |
| **8/31/20** | $11552 | $11984 |
| **9/30/20** | $11559 | $11978 |
| **10/31/20** | $11505 | $11924 |
| **11/30/20** | $11641 | $12041 |
| **12/31/20** | $11666 | $12058 |
| **1/31/21** | $11627 | $11971 |
| **2/28/21** | $11465 | $11799 |
| **3/31/21** | $11312 | $11651 |
| **4/30/21** | $11419 | $11743 |
| **5/31/21** | $11451 | $11782 |
| **6/30/21** | $11536 | $11864 |
| **7/31/21** | $11664 | $11997 |
| **8/31/21** | $11635 | $11974 |
| **9/30/21** | $11535 | $11871 |
| **10/31/21** | $11507 | $11867 |
| **11/30/21** | $11521 | $11902 |
| **12/31/21** | $11492 | $11872 |
| **1/31/22** | $11284 | $11616 |
| **2/28/22** | $11162 | $11487 |
| **3/31/22** | $10800 | $11168 |
| **4/30/22** | $10376 | $10744 |
| **5/31/22** | $10413 | $10813 |
| **6/30/22** | $10220 | $10643 |
| **7/31/22** | $10447 | $10903 |
| **8/31/22** | $10181 | $10595 |
| **9/30/22** | $9747 | $10138 |
| **10/31/22** | $9586 | $10006 |
| **11/30/22** | $9958 | $10374 |
| **12/31/22** | $9928 | $10327 |
| **1/31/23** | $10250 | $10645 |
| **2/28/23** | $10004 | $10370 |
| **3/31/23** | $10236 | $10633 |
| **4/30/23** | $10281 | $10698 |
| **5/31/23** | $10182 | $10581 |
| **6/30/23** | $10144 | $10544 |
| **7/31/23** | $10169 | $10536 |
| **8/31/23** | $10108 | $10469 |
| **9/30/23** | $9862 | $10203 |
| **10/31/23** | $9681 | $10042 |
| **11/30/23** | $10129 | $10497 |
| **12/31/23** | $10534 | $10898 |
| **1/31/24** | $10528 | $10868 |
| **2/29/24** | $10390 | $10715 |
| **3/31/24** | $10492 | $10814 |
| **4/30/24** | $10237 | $10541 |
| **5/31/24** | $10422 | $10719 |
| **6/30/24** | $10510 | $10821 |
| **7/31/24** | $10760 | $11074 |
| **8/31/24** | $10887 | $11233 |
| **9/30/24** | $11033 | $11383 |
| **10/31/24** | $10760 | $11101 |
| **11/30/24** | $10897 | $11218 |
| **12/31/24** | $10725 | $11035 |
| **1/31/25** | $10806 | $11093 |
| **2/28/25** | $11058 | $11337 |
| **3/31/25** | $11045 | $11342 |
| **4/30/25** | $11059 | $11386 |
| **5/31/25** | $10966 | $11305 |
| **6/30/25** | $11151 | $11478 |
| **7/31/25** | $11130 | $11448 |
| **8/31/25** | $11283 | $11585 |
| **9/30/25** | $11403 | $11711 |
| **10/31/25** | $11511 | $11785 |
| **11/30/25** | $11567 | $11858 |
| **12/31/25** | $11558 | $11840 |
| **1/31/26** | $11591 | $11853 |
| **2/28/26** | $11768 | $12047 |
| **3/31/26** | $11509 | $11835 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Class A (excluding sales charge) | 4.19% | 0.35% | 1.80% |
| Class A (including sales charge) | 0.29% | (0.42%) | 1.42% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $350557 |
| # of Portfolio Holdings | 825 |
| Portfolio Turnover Rate | 414% |
| Total Net Advisory Fees Paid During the Reporting Period | $830 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.7% |
| Corporate Bonds & Notes | 44.5% |
| U.S. Treasury Obligations | 20.4% |
| Sovereign Issues | 6.4% |
| Non-Agency Mortgage-Backed Securities | 4.5% |
| Asset-Backed Securities | 1.5% |
| Municipal Bonds & Notes | 0.7% |
| Common Stocks | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 4.3% |
| Financial Derivative Instruments | 0.3% |
| Other Assets and Liabilities, Net | (28.2%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.05% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PTUZX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund IV
Annual Shareholder Report \|

March 31, 2026

PIMS6032TSRAR_033126

# Institutional Class: PTUIX

# PIMCO Total Return Fund IV

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund IV (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

#### This report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $53 | 0.52% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Positioning within corporate credit including overweight exposure to senior financials contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index"), as the asset class outperformed.

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Curve positioning in the U.S., including underweight exposure to the long end, contributed to relative performance versus the Index, as yields rose.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Long exposure to duration in Japan detracted from relative performance versus the Index, as yields rose.

* Short exposure to select emerging market currencies in Asia, including the Singaporean dollar, detracted from relative performance versus the Index, as it appreciated relative to the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g63v18.jpg)

---

| | | |
|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** |
| **3/31/16** | $1000000 | $1004405 |
| **4/30/16** | $1004532 | $1012156 |
| **5/31/16** | $1005560 | $1019947 |
| **6/30/16** | $1020254 | $1018920 |
| **7/31/16** | $1031008 | $1023305 |
| **8/31/16** | $1029947 | $1032484 |
| **9/30/16** | $1032933 | $1027566 |
| **10/31/16** | $1027446 | $1028161 |
| **11/30/16** | $1004725 | $1026841 |
| **12/31/16** | $1008895 | $1031554 |
| **1/31/17** | $1013976 | $1019674 |
| **2/28/17** | $1021300 | $1010008 |
| **3/31/17** | $1021082 | $1016485 |
| **4/30/17** | $1029581 | $1008925 |
| **5/31/17** | $1038013 | $1016126 |
| **6/30/17** | $1038759 | $1014876 |
| **7/31/17** | $1044138 | $1015117 |
| **8/31/17** | $1055638 | $1021649 |
| **9/30/17** | $1052199 | $1015070 |
| **10/31/17** | $1052699 | $1007049 |
| **11/30/17** | $1050282 | $1013060 |
| **12/31/17** | $1054953 | $1031671 |
| **1/31/18** | $1043544 | $1042627 |
| **2/28/18** | $1035141 | $1042023 |
| **3/31/18** | $1038075 | $1062032 |
| **4/30/18** | $1027939 | $1062304 |
| **5/31/18** | $1036203 | $1081161 |
| **6/30/18** | $1036390 | $1094739 |
| **7/31/18** | $1037503 | $1097147 |
| **8/31/18** | $1044165 | $1125576 |
| **9/30/18** | $1037145 | $1119581 |
| **10/31/18** | $1030369 | $1122953 |
| **11/30/18** | $1033015 | $1122381 |
| **12/31/18** | $1046798 | $1121599 |
| **1/31/19** | $1060517 | $1143184 |
| **2/28/19** | $1062937 | $1163759 |
| **3/31/19** | $1081154 | $1156911 |
| **4/30/19** | $1082895 | $1177476 |
| **5/31/19** | $1104597 | $1182959 |
| **6/30/19** | $1118903 | $1190410 |
| **7/31/19** | $1119420 | $1208191 |
| **8/31/19** | $1153568 | $1198439 |
| **9/30/19** | $1146505 | $1197782 |
| **10/31/19** | $1153168 | $1192434 |
| **11/30/19** | $1149392 | $1204134 |
| **12/31/19** | $1147789 | $1205794 |
| **1/31/20** | $1175669 | $1197148 |
| **2/29/20** | $1192794 | $1179861 |
| **3/31/20** | $1159204 | $1165128 |
| **4/30/20** | $1176866 | $1174333 |
| **5/31/20** | $1184689 | $1178169 |
| **6/30/20** | $1200983 | $1186447 |
| **7/31/20** | $1219505 | $1199713 |
| **8/31/20** | $1218279 | $1197429 |
| **9/30/20** | $1219405 | $1187061 |
| **10/31/20** | $1214132 | $1186734 |
| **11/30/20** | $1228809 | $1190245 |
| **12/31/20** | $1231865 | $1187200 |
| **1/31/21** | $1228001 | $1161622 |
| **2/28/21** | $1211193 | $1148663 |
| **3/31/21** | $1195450 | $1116751 |
| **4/30/21** | $1207064 | $1074373 |
| **5/31/21** | $1210839 | $1081300 |
| **6/30/21** | $1220212 | $1064336 |
| **7/31/21** | $1234133 | $1090343 |
| **8/31/21** | $1231390 | $1059533 |
| **9/30/21** | $1221131 | $1013755 |
| **10/31/21** | $1218571 | $1000624 |
| **11/30/21** | $1220318 | $1037423 |
| **12/31/21** | $1217720 | $1032743 |
| **1/31/22** | $1195948 | $1064515 |
| **2/28/22** | $1183375 | $1036991 |
| **3/31/22** | $1145297 | $1063333 |
| **4/30/22** | $1100714 | $1069778 |
| **5/31/22** | $1104905 | $1058130 |
| **6/30/22** | $1084737 | $1054356 |
| **7/31/22** | $1109213 | $1053621 |
| **8/31/22** | $1081247 | $1046891 |
| **9/30/22** | $1035479 | $1020288 |
| **10/31/22** | $1018706 | $1004186 |
| **11/30/22** | $1058466 | $1049662 |
| **12/31/22** | $1055652 | $1089842 |
| **1/31/23** | $1090174 | $1086849 |
| **2/28/23** | $1064275 | $1071494 |
| **3/31/23** | $1089314 | $1081388 |
| **4/30/23** | $1094428 | $1054074 |
| **5/31/23** | $1084253 | $1071944 |
| **6/30/23** | $1080500 | $1082092 |
| **7/31/23** | $1083481 | $1107367 |
| **8/31/23** | $1077287 | $1123279 |
| **9/30/23** | $1051409 | $1138319 |
| **10/31/23** | $1032405 | $1110090 |
| **11/30/23** | $1080418 | $1121827 |
| **12/31/23** | $1123959 | $1103468 |
| **1/31/24** | $1123671 | $1109322 |
| **2/29/24** | $1109203 | $1133729 |
| **3/31/24** | $1120421 | $1134155 |
| **4/30/24** | $1093543 | $1138613 |
| **5/31/24** | $1113630 | $1130460 |
| **6/30/24** | $1123382 | $1147843 |
| **7/31/24** | $1150456 | $1144815 |
| **8/31/24** | $1164388 | $1158507 |
| **9/30/24** | $1180286 | $1171145 |
| **10/31/24** | $1151426 | $1178462 |
| **11/30/24** | $1166403 | $1185785 |
| **12/31/24** | $1148427 | $1184031 |
| **1/31/25** | $1157415 | $1185295 |
| **2/28/25** | $1184658 | $1204706 |
| **3/31/25** | $1183688 | $1183475 |
| **4/30/25** | $1185425 | $1000000 |
| **5/31/25** | $1175851 | $1000236 |
| **6/30/25** | $1196077 | $1000448 |
| **7/31/25** | $1194091 | $1000648 |
| **8/31/25** | $1210967 | $1000870 |
| **9/30/25** | $1224121 | $1001109 |
| **10/31/25** | $1236167 | $1001348 |
| **11/30/25** | $1242495 | $1001600 |
| **12/31/25** | $1241895 | $1001858 |
| **1/31/26** | $1245760 | $1002169 |
| **2/28/26** | $1265135 | $1002542 |
| **3/31/26** | $1237620 | $1002934 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **5 Years** | **10 Years** |
| Institutional Class | 4.56% | 0.70% | 2.15% |
| Bloomberg U.S. Aggregate Index | 4.35% | 0.31% | 1.70% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $350557 |
| # of Portfolio Holdings | 825 |
| Portfolio Turnover Rate | 414% |
| Total Net Advisory Fees Paid During the Reporting Period | $830 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 44.7% |
| Corporate Bonds & Notes | 44.5% |
| U.S. Treasury Obligations | 20.4% |
| Sovereign Issues | 6.4% |
| Non-Agency Mortgage-Backed Securities | 4.5% |
| Asset-Backed Securities | 1.5% |
| Municipal Bonds & Notes | 0.7% |
| Common Stocks | 0.3% |
| Short-Term Instruments | 0.6% |
| Affiliated Investments | 4.3% |
| Financial Derivative Instruments | 0.3% |
| Other Assets and Liabilities, Net | (28.2%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Material Fund Changes
This is a summary of certain changes and planned changes of the Fund since the beginning of the reporting period. For more information, you may refer to the Fund's next prospectus, which we expect to be available by July 31, 2026 or upon request at **888.87.PIMCO (888.877.4626)**.

Changes to Total Annual Fund Operating Expenses. Annual fund operating expenses decreased during the year by 0.05% as a result of lower expenses related to interest.

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PTUIX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund IV
Annual Shareholder Report \|

March 31, 2026

PIMS2025TSRAR_033126

# Class A: PPAHX

# PIMCO Total Return Fund V

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund V (the "Fund") for the period of October 31, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $40 | 0.96% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Curve positioning in the U.S. including overweight exposure to the intermediate section of the curve in 2025, as yields fell and underweight exposure to the intermediate section of the curve in 2026, as yields rose, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index").

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Short exposure to select developed market currencies in the dollar bloc, including the Australian dollar and the Canadian dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $10,000 Investment
![Growth of 10K Chart](g112232g72r28.jpg)

---

| | | |
|:---|:---|:---|
| | **Class A (including sales charge)** | **Bloomberg U.S. Aggregate Index** |
| **5/1/23** | $9775 | $10000 |
| **5/31/23** | $9758 | $10581 |
| **6/30/23** | $9677 | $10544 |
| **7/31/23** | $9669 | $10536 |
| **8/31/23** | $9606 | $10469 |
| **9/30/23** | $9355 | $10203 |
| **10/31/23** | $9181 | $10042 |
| **11/30/23** | $9607 | $10497 |
| **12/31/23** | $9944 | $10898 |
| **1/31/24** | $9947 | $10868 |
| **2/29/24** | $9811 | $10715 |
| **3/31/24** | $9912 | $10814 |
| **4/30/24** | $9667 | $10541 |
| **5/31/24** | $9844 | $10719 |
| **6/30/24** | $9921 | $10821 |
| **7/31/24** | $10156 | $11074 |
| **8/31/24** | $10268 | $11233 |
| **9/30/24** | $10396 | $11383 |
| **10/31/24** | $10121 | $11101 |
| **11/30/24** | $10252 | $11218 |
| **12/31/24** | $10079 | $11035 |
| **1/31/25** | $10136 | $11093 |
| **2/28/25** | $10394 | $11337 |
| **3/31/25** | $10380 | $11342 |
| **4/30/25** | $10399 | $11386 |
| **5/31/25** | $10321 | $11305 |
| **6/30/25** | $10487 | $11478 |
| **7/31/25** | $10461 | $11448 |
| **8/31/25** | $10621 | $11585 |
| **9/30/25** | $10723 | $11711 |
| **10/31/25** | $10808 | $11785 |
| **11/30/25** | $10887 | $11858 |
| **12/31/25** | $10866 | $11840 |
| **1/31/26** | $10901 | $11853 |
| **2/28/26** | $11058 | $12047 |
| **3/31/26** | $10818 | $11171 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)<sup>**Footnote Reference (1)**</sup>

---

| | | |
|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **Since Inception 5/1/23** |
| Class A (excluding sales charge) | 4.22% | 3.53% |
| Class A (including sales charge) | 1.92% | 2.73% |
| Bloomberg U.S. Aggregate Index | 4.35% | 3.87% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(1)</sup> | &nbsp;&nbsp;For periods prior to the inception of share classes launched subsequent to the Fund's inception date, the performance shown is adjusted for the performance of the Institutional Class. The prior Institutional Class performance has been adjusted to reflect the distribution and/or service fees and other expenses paid by each respective share class. |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. The Cumulative Returns graph and Average Annual Total Returns table reflect any sales load that would have applied at the time of purchase or any Contingent Deferred Sales Charge ("CDSC") that would have applied if a full redemption occurred on the last business day of the period shown in the Cumulative Returns graph. Class A shares are subject to an initial sales charge. A CDSC may be imposed in certain circumstances on Class A shares that are purchased without an initial sales charge and then redeemed during the first 12 months after purchase. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $368492 |
| # of Portfolio Holdings | 716 |
| Portfolio Turnover Rate | 271% |
| Total Net Advisory Fees Paid During the Reporting Period | $786 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 39.6% |
| Corporate Bonds & Notes | 32.2% |
| U.S. Treasury Obligations | 21.8% |
| Asset-Backed Securities | 5.8% |
| Sovereign Issues | 4.1% |
| Non-Agency Mortgage-Backed Securities | 1.5% |
| Short-Term Instruments | 11.8% |
| Financial Derivative Instruments | 1.1% |
| Other Assets and Liabilities, Net | (17.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Class A: PPAHX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund V
Annual Shareholder Report \|

March 31, 2026

PIMS8092TSRAR_033126

# Institutional Class: PPEIX

# PIMCO Total Return Fund V

#### Annual Shareholder Report \| March 31, 2026
![Image](g112232g28m44.jpg)

This annual shareholder report contains important information about the PIMCO Total Return Fund V (the "Fund") for the period of April 1, 2025 to March 31, 2026 (the "reporting period"). You can find additional information about the Fund at **www.pimco.com/literature**. You can also request this information by contacting us at **888.87.PIMCO (888.877.4626)**.

## What were the Fund costs for the reporting period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Cost of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Institutional Class | $57 | 0.56% |

---

## How did the Fund perform during the reporting period and what affected its performance?
The following affected performance (on a gross basis) during the reporting period:

* Curve positioning in the U.S. including overweight exposure to the intermediate section of the curve in 2025, as yields fell and underweight exposure to the intermediate section of the curve in 2026, as yields rose, contributed to relative performance versus the Bloomberg U.S. Aggregate Index ("Index").

* Overweight exposure to agency mortgage-backed securities contributed to relative performance versus the Index, as spreads tightened.

* Long exposure to select emerging market currencies, including the Brazilian real and the Mexican peso, contributed to relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Short exposure to select emerging market currencies in Asia, including the new Taiwanese dollar in 2025 and the Singaporean dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

* Long exposure to duration in Australia detracted from relative performance versus the Index, as yields rose.

* Short exposure to select developed market currencies in the dollar bloc, including the Australian dollar and the Canadian dollar, detracted from relative performance versus the Index, as they appreciated relative to the U.S. dollar.

## Fund Performance
In addition to the Fund's performance, the graph and the table in this section include performance of a broad-based securities market index (i.e., a regulatory index). The Fund's regulatory index is shown in connection with certain regulatory requirements to provide a broad measure of market performance.

The graph below illustrates cumulative returns for the 10-year period ended March 31, 2026 or the life of the Fund, if shorter. Cumulative returns are based on a hypothetical initial investment equal to the greater of either $10,000 or the investment minimum applicable to the share class.

### Cumulative Returns Based on $1,000,000 Investment
![Growth of 10K Chart](g112232g79q59.jpg)

---

| | | |
|:---|:---|:---|
| | **Institutional Class** | **Bloomberg U.S. Aggregate Index** |
| **5/1/23** | $1000000 | $1000000 |
| **5/31/23** | $998628 | $998740 |
| **6/30/23** | $990573 | $995178 |
| **7/31/23** | $990143 | $994484 |
| **8/31/23** | $984029 | $988132 |
| **9/30/23** | $958589 | $963022 |
| **10/31/23** | $941149 | $947824 |
| **11/30/23** | $985090 | $990748 |
| **12/31/23** | $1020040 | $1028672 |
| **1/31/24** | $1020686 | $1025848 |
| **2/29/24** | $1006984 | $1011354 |
| **3/31/24** | $1017682 | $1020693 |
| **4/30/24** | $992923 | $994912 |
| **5/31/24** | $1011441 | $1011779 |
| **6/30/24** | $1019668 | $1021357 |
| **7/31/24** | $1044157 | $1045213 |
| **8/31/24** | $1056032 | $1060233 |
| **9/30/24** | $1069562 | $1074429 |
| **10/31/24** | $1041573 | $1047784 |
| **11/30/24** | $1055405 | $1058862 |
| **12/31/24** | $1037928 | $1041533 |
| **1/31/25** | $1044207 | $1047059 |
| **2/28/25** | $1071077 | $1070096 |
| **3/31/25** | $1069989 | $1070499 |
| **4/30/25** | $1072295 | $1074706 |
| **5/31/25** | $1064675 | $1067011 |
| **6/30/25** | $1082160 | $1083418 |
| **7/31/25** | $1079847 | $1080560 |
| **8/31/25** | $1096671 | $1093484 |
| **9/30/25** | $1107555 | $1105412 |
| **10/31/25** | $1116743 | $1112319 |
| **11/30/25** | $1125290 | $1119231 |
| **12/31/25** | $1123498 | $1117575 |
| **1/31/26** | $1127429 | $1118768 |
| **2/28/26** | $1144002 | $1137089 |
| **3/31/26** | $1119452 | $1117050 |

---

The table below shows the average annual total returns of the Fund and a regulatory index for certain periods ended March 31, 2026.

## Average Annual Total Returns (%)

---

| | | |
|:---|:---|:---|
| **Class/Index Name** | **1 Year** | **Since Inception 5/1/23** |
| Institutional Class | 4.62% | 3.94% |
| Bloomberg U.S. Aggregate Index | 4.35% | 3.87% |

---

All Fund returns are net of fees and expenses and include applicable fee waivers and/or expense limitations. Absent any applicable fee waivers and/or expense limitations, performance would have been lower and there can be no assurance that any such waivers or limitations will continue in the future.

**Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.**Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.Differences in the Fund's performance versus an index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index. For performance current to the most recent month-end, visit **www.pimco.com/literature** or via **888.87.PIMCO (888.877.4626)**.

## Key Fund Statistics<sup>**Footnote Reference †**</sup> (as of the end of the reporting period)

---

| | |
|:---|:---|
| Total Net Assets | $368492 |
| # of Portfolio Holdings | 716 |
| Portfolio Turnover Rate | 271% |
| Total Net Advisory Fees Paid During the Reporting Period | $786 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Dollar amounts displayed in 000's |

---

## What did the Fund invest in?

### Security Type Breakdown (% of Net Asset Value)<sup>**Footnote Reference \***</sup>

---

| | |
|:---|:---|
| U.S. Government Agencies | 39.6% |
| Corporate Bonds & Notes | 32.2% |
| U.S. Treasury Obligations | 21.8% |
| Asset-Backed Securities | 5.8% |
| Sovereign Issues | 4.1% |
| Non-Agency Mortgage-Backed Securities | 1.5% |
| Short-Term Instruments | 11.8% |
| Financial Derivative Instruments | 1.1% |
| Other Assets and Liabilities, Net | (17.9%) |
| Total | 100.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;% of Net Asset Value includes derivatives instruments, if any, valued at the value used for determining the Fund's net asset value. The notional exposure of such derivatives investments therefore may be greater than what is depicted. |

---

## Additional Information
For additional information about the Fund, including the Fund's prospectus, financial information, holdings and proxy voting information, please visit **www.pimco.com/literature** or contact **888.87.PIMCO (888.877.4626).** For tax information about the Fund, please visit: **www.pimco.com/tax.**![An image of a QR code that, when scanned, navigates the user to the following URL: http://www.pimco.com/literature](g112232g16j90.jpg)

# Institutional Class: PPEIX
![Image](g112232g01x08.jpg)

# PIMCO Total Return Fund V
Annual Shareholder Report \|

March 31, 2026

PIMS2242TSRAR_033126

------

**Item 2.** **Code of Ethics.** <br>

As of the end of the period covered by this report, the Registrant has adopted a code of ethics (the "Code") that applies to the Registrant's principal executive officer and principal financial officer. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code to the principal executive officer or principal financial officer during the period covered by this report.

A copy of the Code is included as an exhibit to this report.

**Item 3.** **Audit Committee Financial Expert.** <br>

The Board of Trustees has determined that Steven Lipiner, who serves on the Board's Audit Committee, qualifies as an "audit committee financial expert" as such term is defined in the instructions to this Item 3. The Board has also determined that Mr. Lipiner is "independent" as such term is interpreted under this Item 3.

**Item 4.** **Principal Accountant Fees and Services.** <br>

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) | <u>Fiscal Year Ended</u>  | <u>Audit Fees</u>  |
|  | March 31, 2026 | $6576508 |
|  | March 31, 2025 | $6503548 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) | <u>Fiscal Year Ended</u>  | <u>Audit-Related Fees <sup>(1)</sup></u>  |
|  | March 31, 2026 | $— |
|  | March 31, 2025 | $— |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) | <u>Fiscal Year Ended</u>  | <u>Tax Fees</u>  |
|  | March 31, 2026 | $— |
|  | March 31, 2025 | $6500 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)  | <u>Fiscal Year Ended</u>  | <u>All Other Fees <sup>(2)</sup></u>  |
|  | March 31, 2026 | $— |
|  | March 31, 2025 | $— |

---

"Audit Fees" represents aggregate fees billed for each of the last two fiscal years for professional services rendered for the audit of the PIMCO Funds (the "Trust" or "Registrant") annual financial statements or services that are normally provided by the accountant in connection with statutory or regulatory filings or engagements for those fiscal years.

"Audit-Related Fees" represents aggregate fees billed for each of the last two fiscal years for assurance and related services reasonably related to the performance of the audit of the Trust's annual financial statements for those years.

"Tax Fees" represents aggregate fees billed for each of the last two fiscal years for professional services related to tax compliance, tax advice and tax planning, including review of federal and state income tax returns, review of excise tax distribution requirements and preparation of excise tax returns.

"All Other Fees" represents aggregate fees, if any, billed for other products and services rendered by the principal accountant to the Trust for the last two fiscal years.

------

<sup>(1)</sup> There were no "Audit-Related Fees" for the last two fiscal years.

<sup>(2)</sup> There were no "All Other Fees" for the last two fiscal years.

(e) Pre-approval policies and procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Registrant's Audit Committee has adopted pre-approval policies and procedures (the "Procedures") to govern the Audit Committee's pre-approval of (i) all audit services and permissible non-audit services to be provided to the Registrant by its independent accountant, and (ii) all permissible non-audit services to be provided by such independent accountant to the Registrant's investment adviser and to any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant (collectively, the "Service Affiliates") if the services provided directly relate to the Registrant's operations and financial reporting. In accordance with the Procedures, the Audit Committee is responsible for the engagement of the independent accountant to certify the Registrant's financial statements for each fiscal year. With respect to the pre-approval of non-audit services provided to the Registrant and its Service Affiliates, the Procedures provide that the Audit Committee may annually pre-approve a list of types or categories of non-audit services that may be provided to the Registrant or its Service Affiliates, or the Audit Committee may pre-approve such services on a project-by-project basis as they arise. Unless a type of service has received general pre-approval, it will require specific pre-approval by the Audit Committee if it is to be provided by the independent accountant. The Procedures also permit the Audit Committee to delegate authority to one or more of its members to pre-approve any proposed non-audit services that have not been previously pre-approved by the Audit Committee, subject to the ratification by the full Audit Committee no later than its next scheduled meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) With respect to the services described in paragraphs (b) through (d) of this Item 4, no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) ---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate Non-Audit Fees Billed to Entity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate Non-Audit Fees Billed to Entity |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entity | March 31, 2026 | March 31, 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Funds | $— | $6500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pacific Investment Management Company LLC ("PIMCO") | 23837833 | 26548184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Totals | $23837833 | $26554684 |

---

(h) The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to the Registrant's investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant which were not pre-approved (not requiring pre-approval) is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

**Item 5.** **Audit Committee of Listed Registrants.** <br>

The Registrant has a separately-designated standing Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended. The Audit Committee is comprised of:

Michael J. Berchtold

Jennifer Holden Dunbar

Kym M. Hubbard

Gary F. Kennedy

Anne K. Kratky

------

Steven Lipiner (Chair)

Peter B. McCarthy\*

Ronald C. Parker

\*Mr. McCarthy retired from the Board of Trustees effective as of May 14<sup>th</sup>.

**Item 6.** **Investments.** <br>

The information required by this Item 6 is included as part of the annual Financial Statements and Financial Highlights filed under Item 7(a) of this Form N-CSR.

**Item 7.** **Financial Statements and Financial Highlights for Open-End Management Investment Companies.** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following is a copy of the report(s) of the Funds' Financial Statements and Financial Highlights.

• Bond Funds

Filed under the initially filed submission on Form N-CSR:

• Asset Allocation Funds

• Tax-Efficient Strategy Funds

• Municipal Value Funds

• International Bond Funds

Filed under the first companion submission on Form N-CSR:

• Equity-Related Strategy Funds

To be filed under the immediately following third companion submission on Form N-CSR:

• International Bond Fund (U.S. Dollar-Hedged)

• PAPS Portfolio

To be filed under the immediately following fourth companion submission on Form N-CSR:

• PAPS – All Asset Funds

• Income Fund

• Credit Bond Funds

• Total Return Fund

To be filed under the immediately following fifth companion submission on Form N-CSR:

• Short Duration Strategy Funds

• Real Return Strategy Funds

• TRENDS Managed Futures Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

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![LOGO](g102091g13e39.jpg)

PIMCO FUNDS

## Annual Financial and Other Information
March 31, 2026

**Bond Funds**

PIMCO Climate Bond Fund

PIMCO Dynamic Bond Fund

PIMCO Extended Duration Fund

PIMCO GNMA and Government Securities Fund

PIMCO Investment Grade Credit Bond Fund

PIMCO Long Duration Total Return Fund

PIMCO Long-Term U.S. Government Fund

PIMCO Low Duration Opportunities Fund

PIMCO Moderate Duration Fund

PIMCO Mortgage Opportunities and Bond Fund

PIMCO Total Return ESG Fund

PIMCO Total Return Fund II

PIMCO Total Return Fund IV

PIMCO Total Return Fund V

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#### **Table of Contents**

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| | |
|:---|:---|
|  | Page |
| &nbsp;&nbsp; [Important Information About the Funds](#tx102091_1) | 2 |
| &nbsp;&nbsp; [Financial Highlights (N-CSR Item 7)](#tx102091_2) | 6 |
| &nbsp;&nbsp; [Statements of Assets and Liabilities (N-CSR Item 7)](#tx102091_3) | 18 |
| &nbsp;&nbsp; [Statements of Operations (N-CSR Item 7)](#tx102091_4) | 22 |
| &nbsp;&nbsp; [Statements of Changes in Net Assets (N-CSR Item 7)](#tx102091_5) | 24 |
| &nbsp;&nbsp; [Statements of Cash Flows (N-CSR Item 7)](#tx102091_6) | 28 |
| &nbsp;&nbsp; [Notes to Financial Statements (N-CSR Item 7)](#tx102091_7) | 238 |
| &nbsp;&nbsp; [Remuneration Paid to Directors, Officers and Others (N-CSR Item 10)](#tx102091_8) | 262 |
| &nbsp;&nbsp; [Report of Independent Registered Public Accounting Firm (N-CSR Item 7)](#tx102091_9) | 273 |
| &nbsp;&nbsp; [Glossary](#tx102091_10) | 274 |
| &nbsp;&nbsp; [Distribution Information](#tx102091_11) | 275 |
| &nbsp;&nbsp; [Federal Income Tax Information](#tx102091_12) | 286 |
| &nbsp;&nbsp; [Changes in and Disagreements with Accountants for Open-End Management Investment Companies (N-CSR Item 8)](#tx102091_13) | 287 |
| &nbsp;&nbsp; [Proxy Disclosures for Open-End Management Investment Companies (N-CSR Item 9)](#tx102091_14) | 288 |
| &nbsp;&nbsp; [Approval of Investment Advisory Contract and Other Agreements (N-CSR Item 11)](#tx102091_15) | 289 |
| Fund | Schedule of<br>Investments<br>(N-CSR Item 6) |
| &nbsp;&nbsp; [PIMCO Climate Bond Fund](#tx102091_16) | 29 |
| &nbsp;&nbsp; [PIMCO Dynamic Bond Fund](#tx102091_17) | 36 |
| &nbsp;&nbsp; [PIMCO Extended Duration Fund](#tx102091_18) | 63 |
| &nbsp;&nbsp; [PIMCO GNMA and Government Securities Fund](#tx102091_19) | 73 |
| &nbsp;&nbsp; [PIMCO Investment Grade Credit Bond Fund](#tx102091_20) | 82 |
| &nbsp;&nbsp; [PIMCO Long Duration Total Return Fund](#tx102091_21) | 110 |
| &nbsp;&nbsp; [PIMCO Long-Term U.S. Government Fund](#tx102091_22) | 130 |
| &nbsp;&nbsp; [PIMCO Low Duration Opportunities Fund](#tx102091_23) | 137 |
| &nbsp;&nbsp; [PIMCO Moderate Duration Fund](#tx102091_24) | 150 |
| &nbsp;&nbsp; [PIMCO Mortgage Opportunities and Bond Fund](#tx102091_25) | 168 |
| &nbsp;&nbsp; [PIMCO Total Return ESG Fund](#tx102091_26) | 189 |
| &nbsp;&nbsp; [PIMCO Total Return Fund II](#tx102091_27) | 204 |
| &nbsp;&nbsp; [PIMCO Total Return Fund IV](#tx102091_28) | 214 |
| &nbsp;&nbsp; [PIMCO Total Return Fund V](#tx102091_29) | 226 |

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This material is authorized for use only when preceded or accompanied by the current PIMCO Funds prospectuses. The Shareholder Reports for the other series of the PIMCO Funds are printed separately.

------

Important Information About the Funds

PIMCO Funds (the "Trust") is an open-end management investment company that includes the PIMCO Climate Bond Fund, PIMCO Dynamic Bond Fund, PIMCO Extended Duration Fund, PIMCO GNMA and Government Securities Fund, PIMCO Investment Grade Credit Bond Fund, PIMCO Long Duration Total Return Fund, PIMCO Long-Term U.S. Government Fund, PIMCO Low Duration Opportunities Fund, PIMCO Moderate Duration Fund, PIMCO Mortgage Opportunities and Bond Fund, PIMCO Total Return ESG Fund, PIMCO Total Return Fund II, PIMCO Total Return Fund IV and PIMCO Total Return Fund V (each, a "Fund" and collectively, the "Funds").

We believe that bond funds have an important role to play in a well-diversified investment portfolio. It is important to note, however, that in an environment where interest rates may trend upward, rising rates would negatively impact the performance of most bond funds, and fixed income securities and other instruments held by a Fund are likely to decrease in value. A wide variety of factors can cause interest rates or yields of U.S. Treasury securities (or yields of other types of bonds) to rise (e.g., central bank monetary policies, inflation rates, general economic conditions, etc.). In addition, changes in interest rates can be sudden and unpredictable, and there is no guarantee that Fund management will anticipate such movement accurately. The Funds may experience losses as a result of movements in interest rates.

Changing interest rates may have unpredictable effects on markets, which may detract from Fund performance. The interest rate environment has fluctuated in recent years, moving from historically low interest rates in 2020 and 2021 to high interest rates in 2022 and 2023 as a result of the U.S. Federal Reserve (the "Fed") raising interest rates multiple times in efforts to combat inflation. Starting in late 2024 and again in 2025, the Fed lowered interest rates. It is uncertain whether rates will remain steady, increase or decrease in the future. As such, the Funds may face a heightened level of risk associated with changing interest rates and/or bond yields. This could be driven by a variety of factors, including but not limited to central bank monetary policies, changing inflation or real growth rates, general economic conditions, increasing bond issuances or reduced market demand for certain types of bonds or bonds generally. Further, while bond markets have steadily grown over the past three decades, dealer inventories of corporate bonds are near historic lows in relation to market size. As a result, there has been a significant reduction in the ability of dealers to "make markets".

Bond funds and individual bonds with a longer duration (a measure used to determine the sensitivity of a security's price to changes in interest rates) tend to be more sensitive to changes in interest rates, usually making them more volatile than funds or securities with shorter durations. All of the factors mentioned above, individually or collectively, could lead to increased volatility and/or lower liquidity in the fixed income markets, or negatively impact a Fund's performance or

cause a Fund to incur losses. As a result, a Fund may experience increased shareholder redemptions, which, among other things, could further reduce the net assets of a Fund.

The Funds may be subject to various risks as described in each Fund's prospectus and in the Principal and Other Risks note in the Notes to Financial Statements.

Classifications of the Funds' portfolio holdings in this report are made according to financial reporting standards. The classification of a particular portfolio holding as shown in the Schedule of Investments sections of this report may differ from the classification used for a Fund's compliance calculations, including those used in a Fund's prospectus, investment objectives, regulatory and other investment limitations and policies, which may be based on different asset class, sector or geographical classifications. All Funds are separately monitored for compliance with respect to prospectus and regulatory requirements.

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.

In February 2022, Russia launched an invasion of Ukraine. As a result, Russia and other countries, persons and entities that provided material aid to Russia's aggression against Ukraine, have been the subject of economic sanctions and import and export controls imposed by countries throughout the world, including the United States. Such measures, including the United States' enforcement of sanctions or other similar measures on various Russian entities and persons, and the Russian government's response, have had and may continue to have an adverse effect on the Russian, Belarusian and other securities, instruments and economies, which may, in turn, negatively impact a Fund. The extent, duration and impact of Russia's military action in Ukraine, related sanctions and retaliatory actions are difficult to ascertain, but could be significant and have severe adverse effects on the region, including significant adverse effects on the regional, European and global economies and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors. Further, a Fund may have investments in securities and instruments that are economically tied to the region and may have been negatively impacted by the sanctions and counter-sanctions by Russia, including declines in value and reductions in liquidity. The sanctions may cause a Fund to sell portfolio holdings at a disadvantageous time or price or to continue to hold investments that a Fund may no longer seek to hold. In addition, the armed conflict among the United States, Israel, and Iran has caused, and could continue to cause, significant market disruptions and volatility. The conflict has had a particular negative impact on oil and gas markets, which could have a broader adverse effect on many sectors of the global economy in the future.

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| | |
|:---|:---|
| **2** | **PIMCO BOND FUNDS** |

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------

The United States' enforcement of restrictions on U.S. investments in certain issuers and tariffs on goods from certain other countries has contributed to and may continue to contribute to international trade tensions and may impact portfolio securities. The U.S. government has indicated an intent to alter its approach to international trade policy, including in some cases renegotiating, modifying or terminating certain bilateral or multi-lateral trade arrangements with foreign countries, and it has proposed to take and/or taken related actions, including the imposition of or stated potential imposition of a broad range of tariffs. The imposition of tariffs, trade restrictions, currency restrictions or similar actions (or retaliatory measures taken in response) could lead to, for example, price volatility, reduced market sentiment, and changes in inflation expectations. These and other geopolitical events may contribute to increased instability in the U.S. and global economies and markets, which may have an adverse effect on the performance of the Funds and their investments.

Increased volatility in the U.S. and global markets could be harmful to the Funds, issuers in which they invest and other market participants and Fund service providers. For example, if a bank at which a Fund or issuer has an account fails, any cash or other assets in bank or custody accounts, which may be substantial in size, could be temporarily inaccessible or permanently lost by the Fund or issuer. If a bank that

provides a subscription line credit facility, asset-based facility, other credit facility and/or other services to an issuer or to a fund fails, the issuer or fund could be unable to draw funds under its credit facilities or obtain replacement credit facilities or other services from other lending institutions with similar terms.

Issuers in which a Fund may invest can be affected by volatility in the banking sector. Even if banks used by issuers in which the Funds invest remain solvent, volatility in the banking sector could contribute to, cause or intensify an economic recession, increase the costs of capital and banking services or result in the issuers being unable to obtain or refinance indebtedness at all or on as favorable terms as could otherwise have been obtained. Potential impacts to the Funds and issuers resulting from volatility in the banking sector and accompanying market conditions and potential legislative or regulatory responses are uncertain. Such conditions and responses, as well as a changing interest rate environment, can contribute to decreased market liquidity and erode the value of certain holdings. Market volatility and uncertainty and/or a downturn in market and economic and financial conditions, as a result of developments in the banking sector or otherwise (including as a result of delayed access to cash or credit facilities), could have an adverse impact on the Funds and issuers in which they invest.

The following table discloses the inception dates of each Fund and its respective share classes along with each Fund's diversification status as of period end:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Fund Name | Fund<br>Inception | Institutional<br>Class | I-2 | I-3 | Administrative<br>Class | Class A | Class C | Class R | Diversification<br>Status |
|  PIMCO Climate Bond Fund | 12/10/19 | 12/10/19 | 12/10/19 | 12/10/19 |  | 12/10/19 | 12/10/19 |  | Diversified |
|  PIMCO Dynamic Bond Fund | 06/30/08 | 06/30/08 | 06/30/08 | 04/27/18 |  | 06/30/08 | 07/31/08 | 07/31/08 | Diversified |
|  PIMCO Extended Duration Fund | 08/31/06 | 08/31/06 | 09/11/08 |  |  |  |  |  | Diversified |
|  PIMCO GNMA and Government Securities Fund | 07/31/97 | 07/31/97 | 04/30/08 | 01/31/19 |  | 11/30/00 | 05/31/01 |  | Diversified |
|  PIMCO Investment Grade Credit Bond Fund | 04/28/00 | 04/28/00 | 04/30/08 | 04/27/18 | 09/30/02 | 07/30/04 | 07/30/04 |  | Diversified |
|  PIMCO Long Duration Total Return Fund | 08/31/06 | 08/31/06 | 09/11/08 |  |  | 09/08/17 | 01/05/18 |  | Diversified |
|  PIMCO Long-Term U.S. Government Fund | 07/01/91 | 07/01/91 | 04/30/08 |  |  | 01/20/97 | 01/20/97 |  | Diversified |
|  PIMCO Low Duration Opportunities Fund | 01/30/09 | 01/30/09 | 09/10/09 |  |  | 01/30/09 | 01/30/09 |  | Diversified |
|  PIMCO Moderate Duration Fund | 12/31/96 | 12/31/96 | 12/31/09 |  |  |  |  |  | Diversified |
|  PIMCO Mortgage Opportunities and Bond Fund | 10/22/12 | 10/22/12 | 10/22/12 | 04/27/18 |  | 10/22/12 | 10/22/12 |  | Diversified |
|  PIMCO Total Return ESG Fund | 05/01/91 | 05/01/91 | 03/31/09 | 07/29/22 | 04/11/97 | 02/03/20 | 02/03/20 |  | Diversified |
|  PIMCO Total Return Fund II | 12/30/91 | 12/30/91 | 12/31/09 |  |  |  |  |  | Diversified |
|  PIMCO Total Return Fund IV | 05/26/11 | 05/26/11 |  |  |  | 05/26/11 |  |  | Diversified |
|  PIMCO Total Return Fund V | 05/01/23 | 05/01/23 |  |  |  | 10/31/25 |  |  | Diversified |

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An investment in a Fund is not a bank deposit and is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. It is possible to lose money on investments in a Fund.

The Trustees are responsible generally for overseeing the management of the Trust. The Trustees authorize the Trust to enter into service agreements with the Adviser, the Distributor, the Administrator and other service providers in order to provide, and in some cases authorize service

providers to procure through other parties, necessary or desirable services on behalf of the Trust and the Funds. Shareholders are not parties to or third-party beneficiaries of such service agreements. Neither a Fund's prospectus nor a Fund's summary prospectus, the Trust's Statement of Additional Information ("SAI"), any contracts filed as exhibits to the Trust's registration statement, nor any other communications, disclosure documents or regulatory filings (including this report) from or on behalf of the Trust or a Fund creates a contract between or among any

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| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>3</sub> |

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------

Important Information About the Funds (Cont.)

shareholder of a Fund, on the one hand, and the Trust, a Fund, a service provider to the Trust or a Fund, and/or the Trustees or officers of the Trust, on the other hand. The Trustees (or the Trust and its officers, service providers or other delegates acting under authority of the Trustees) may amend the most recent prospectus or use a new prospectus, summary prospectus or SAI with respect to a Fund or the Trust, and/or amend, file and/or issue any other communications, disclosure documents or regulatory filings, and may amend or enter into any contracts to which the Trust or a Fund is a party, and interpret the investment objective(s), policies, restrictions and contractual provisions applicable to any Fund, without shareholder input or approval, except in circumstances in which shareholder approval is specifically required by law (such as changes to fundamental investment policies) or where a shareholder approval requirement is specifically disclosed in the Trust's then-current prospectus or SAI.

PIMCO has adopted written proxy voting policies and procedures ("Proxy Policy") as required by Rule 206(4)-6 under the Investment Advisers Act of 1940, as amended. The Proxy Policy has been adopted by the Trust as the policies and procedures that PIMCO will use when voting proxies on behalf of the Funds. A description of the policies and procedures that PIMCO uses to vote proxies relating to portfolio securities of each Fund, and information about how each Fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, are available without charge, upon request, by calling the Trust at (888) 87-PIMCO, on the Funds' website at www.pimco.com, and on the Securities and Exchange Commission's ("SEC") website at www.sec.gov.

The Funds file portfolio holdings information with the SEC on Form N-PORT within 60 days of the end of each fiscal quarter. The Funds' complete schedules of securities holdings as of the end of each fiscal quarter will be made available to the public on the SEC's website

at www.sec.gov and on PIMCO's website at www.pimco.com, and will be made available, upon request, by calling PIMCO at (888) 87-PIMCO. In August 2024, the SEC adopted amendments to Form N-PORT requiring funds to file Form N-PORT reports on a monthly basis and within 30 days of month end, with each report being made public 60 days after month end. On April 16, 2025, the SEC extended the compliance date for Form N-PORT amendments and fund groups with $1 billion or more in net assets will be required to comply with the amendments for reports filed on or after November 17, 2027. On February 18, 2026, the SEC extended the compliance date for Form N-PORT reporting requirements related to the Names Rule to November 17, 2027 for fund groups with net assets of $10 billion or more.

Paper copies of the Funds' shareholder reports are required to be provided free of charge by the Fund or financial intermediary upon request.

In September 2023, the SEC adopted amendments to Rule 35d-1 under the Investment Company Act of 1940, as amended, the rule governing fund naming conventions (the "Names Rule"). In general, the Names Rule requires funds with certain types of names to adopt a policy to invest at least 80% of their assets in the type of investment suggested by the name. The amendments expand the scope of the current rule to include any term used in a fund name that suggests the fund makes investments that have, or whose issuers have, particular characteristics. Additionally, the amendments modify the circumstances under which a fund may deviate from its 80% investment policy and address the calculation methodology of derivatives instruments for purposes of the rule. Changes to a fund's calculation methodology for derivatives instruments for purposes of Rule 35d-1 consistent with such amendments and applicable regulatory interpretations thereof will not constitute a change to a fund's policy adopted pursuant to Rule 35d-1 and will not require notice or shareholder approval. The amendments became effective on December 11, 2023. On March 14, 2025, the SEC extended the compliance date from December 11, 2025 to June 11, 2026 for fund groups with $1 billion or more in net assets and modified the operation of the compliance dates to allow for compliance based on the timing of certain annual disclosure and reporting obligations that are tied to a fund's fiscal year-end.

A supplement was filed on February 14, 2025 to provide notification of changes to the principal investment strategies of the PIMCO Mortgage Opportunities and Bond Fund. As of August 1, 2025, the third-to-last sentence in the first paragraph of the principal investment strategies of PIMCO Mortgage Opportunities and Bond Fund was deleted and replaced with the following: The average portfolio duration of this Fund normally varies from 0 to 8 years based on PIMCO's market forecasts.

A supplement was filed on May 21, 2025 to provide notification of changes to the principal investment strategies of the PIMCO Long-Term U.S. Government Fund. As of May 21, 2025, the second paragraph of the principal investment strategies of PIMCO Long-Term U.S. Government Fund was deleted and replaced with the following: The Fund's investments in Fixed Income Instruments are limited to those of investment grade U.S. dollar-denominated securities of U.S. issuers that are rated at least A by Moody's Investors Service, Inc. ("Moody's"), or equivalently rated by Standard & Poor's Rating Services ("S&P") or Fitch Ratings, Inc. ("Fitch"), or, if unrated, determined by PIMCO to be of comparable quality. In addition, the Fund may only invest up to 10% of its total assets in securities rated A by Moody's, or equivalently rated by S&P or Fitch or, if unrated, determined by PIMCO to be of comparable quality. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. For the avoidance of doubt, investments in securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored entities are not subject to these limits.

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| | |
|:---|:---|
| **4** | **PIMCO BOND FUNDS** |

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(THIS PAGE INTENTIONALLY LEFT BLANK)

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| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>5</sub> |

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------

Financial Highlights

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Climate Bond Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $8.92 | $0.31 | $0.06 | $0.37 | $(0.40) | $0.00 | $0.00 | $(0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.78 | 0.32 | 0.16 | 0.48 | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.56 | 0.29 | 0.22 | 0.51 | (0.23) | 0.00 | (0.06) | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.56 | 0.23 | (0.69) | (0.46) | (0.54) | 0.00 | 0.00 | (0.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.23 | 0.17 | (0.59) | (0.42) | (0.21) | (0.04) | 0.00 | (0.25) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 8.92 | 0.30 | 0.06 | 0.36 | (0.39) | 0.00 | 0.00 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.78 | 0.32 | 0.15 | 0.47 | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.56 | 0.28 | 0.22 | 0.50 | (0.22) | 0.00 | (0.06) | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.56 | 0.22 | (0.69) | (0.47) | (0.53) | 0.00 | 0.00 | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.23 | 0.16 | (0.59) | (0.43) | (0.20) | (0.04) | 0.00 | (0.24) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 8.92 | 0.29 | 0.06 | 0.35 | (0.38) | 0.00 | 0.00 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.78 | 0.31 | 0.16 | 0.47 | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.56 | 0.29 | 0.21 | 0.50 | (0.22) | 0.00 | (0.06) | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.56 | 0.22 | (0.69) | (0.47) | (0.53) | 0.00 | 0.00 | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.23 | 0.16 | (0.60) | (0.44) | (0.19) | (0.04) | 0.00 | (0.23) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 8.92 | 0.27 | 0.06 | 0.33 | (0.36) | 0.00 | 0.00 | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.78 | 0.29 | 0.16 | 0.45 | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.56 | 0.26 | 0.22 | 0.48 | (0.20) | 0.00 | (0.06) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.56 | 0.19 | (0.68) | (0.49) | (0.51) | 0.00 | 0.00 | (0.51) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.23 | 0.13 | (0.59) | (0.46) | (0.17) | (0.04) | 0.00 | (0.21) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 8.92 | 0.20 | 0.06 | 0.26 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.78 | 0.22 | 0.16 | 0.38 | (0.24) | 0.00 | 0.00 | (0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.56 | 0.20 | 0.21 | 0.41 | (0.13) | 0.00 | (0.06) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.56 | 0.13 | (0.69) | (0.56) | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.23 | 0.05 | (0.59) | (0.54) | (0.09) | (0.04) | 0.00 | (0.13) |
|  **PIMCO Dynamic Bond Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $10.10 | $0.51 | $0.06 | $0.57 | $(0.54) | $0.00 | $0.00 | $(0.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.49 | 0.26 | 0.75 | (0.48) | 0.00 | 0.00 | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.49 | 0.23 | 0.72 | (0.45) | 0.00 | 0.00 | (0.45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.36 | (0.62) | (0.26) | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.35 | (0.73) | (0.38) | (0.20) | 0.00 | 0.00 | (0.20) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.10 | 0.50 | 0.06 | 0.56 | (0.53) | 0.00 | 0.00 | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.48 | 0.26 | 0.74 | (0.47) | 0.00 | 0.00 | (0.47) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.48 | 0.23 | 0.71 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.35 | (0.62) | (0.27) | (0.43) | 0.00 | 0.00 | (0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.34 | (0.73) | (0.39) | (0.19) | 0.00 | 0.00 | (0.19) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.10 | 0.49 | 0.07 | 0.56 | (0.53) | 0.00 | 0.00 | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.47 | 0.27 | 0.74 | (0.47) | 0.00 | 0.00 | (0.47) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.46 | 0.24 | 0.70 | (0.43) | 0.00 | 0.00 | (0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.34 | (0.62) | (0.28) | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.33 | (0.73) | (0.40) | (0.18) | 0.00 | 0.00 | (0.18) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.10 | 0.47 | 0.06 | 0.53 | (0.50) | 0.00 | 0.00 | (0.50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.45 | 0.26 | 0.71 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.46 | 0.22 | 0.68 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.32 | (0.62) | (0.30) | (0.40) | 0.00 | 0.00 | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.31 | (0.74) | (0.43) | (0.15) | 0.00 | 0.00 | (0.15) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.10 | 0.39 | 0.06 | 0.45 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.38 | 0.26 | 0.64 | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.39 | 0.22 | 0.61 | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.25 | (0.63) | (0.38) | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.24 | (0.75) | (0.51) | (0.07) | 0.00 | 0.00 | (0.07) |

---

---

| | | |
|:---|:---|:---|
| **6** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** | **Expenses<br>Excluding<br>Waivers** | **Expenses<br>Excluding<br>Interest<br>Expense** | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| $8.89 | 4.14% | $33117 | 0.52% | 0.52% | 0.50% | 0.50% | 3.39% | 10% |
| 8.92 | 5.58 | 25300 | 0.54 | 0.54 | 0.50 | 0.50 | 3.66 | 17 |
| 8.78 | 6.08 | 15948 | 0.61 | 0.61 | 0.50 | 0.50 | 3.44 | 28 |
| 8.56 | (4.65) | 11684 | 0.59 | 0.59 | 0.51 | 0.51 | 2.59 | 38 |
| 9.56 | (4.27) | 16998 | 0.51 | 0.51 | 0.51 | 0.51 | 1.65 | 26 |
| 8.89 | 4.04 | 605 | 0.62 | 0.62 | 0.60 | 0.60 | 3.26 | 10 |
| 8.92 | 5.48 | 79 | 0.64 | 0.64 | 0.60 | 0.60 | 3.57 | 17 |
| 8.78 | 5.97 | 212 | 0.71 | 0.71 | 0.60 | 0.60 | 3.28 | 28 |
| 8.56 | (4.75) | 394 | 0.69 | 0.69 | 0.61 | 0.61 | 2.45 | 38 |
| 9.56 | (4.37) | 563 | 0.61 | 0.61 | 0.61 | 0.61 | 1.52 | 26 |
| 8.89 | 3.98 | 1016 | 0.67 | 0.72 | 0.65 | 0.70 | 3.26 | 10 |
| 8.92 | 5.43 | 1113 | 0.69 | 0.74 | 0.65 | 0.70 | 3.50 | 17 |
| 8.78 | 5.93 | 559 | 0.76 | 0.81 | 0.65 | 0.70 | 3.39 | 28 |
| 8.56 | (4.79) | 81 | 0.74 | 0.79 | 0.66 | 0.71 | 2.44 | 38 |
| 9.56 | (4.42) | 86 | 0.66 | 0.71 | 0.66 | 0.71 | 1.54 | 26 |
| 8.89 | 3.73 | 9078 | 0.92 | 0.92 | 0.90 | 0.90 | 3.00 | 10 |
| 8.92 | 5.16 | 2559 | 0.94 | 0.94 | 0.90 | 0.90 | 3.26 | 17 |
| 8.78 | 5.66 | 1402 | 1.01 | 1.01 | 0.90 | 0.90 | 3.03 | 28 |
| 8.56 | (5.04) | 837 | 0.99 | 0.99 | 0.91 | 0.91 | 2.19 | 38 |
| 9.56 | (4.65) | 861 | 0.91 | 0.91 | 0.91 | 0.91 | 1.27 | 26 |
| 8.89 | 2.95 | 69 | 1.67 | 1.67 | 1.65 | 1.65 | 2.26 | 10 |
| 8.92 | 4.38 | 75 | 1.69 | 1.69 | 1.65 | 1.65 | 2.51 | 17 |
| 8.78 | 4.88 | 67 | 1.76 | 1.76 | 1.65 | 1.65 | 2.34 | 28 |
| 8.56 | (5.75) | 22 | 1.74 | 1.74 | 1.66 | 1.66 | 1.45 | 38 |
| 9.56 | (5.38) | 22 | 1.66 | 1.66 | 1.66 | 1.66 | 0.44 | 26 |
| $10.13 | 5.74% | $2209933 | 0.80% | 0.85% | 0.75% | 0.80% | 4.97% | 824% |
| 10.10 | 7.84 | 2492971 | 0.79 | 0.84 | 0.75 | 0.80 | 4.93 | 919 |
| 9.83 | 7.67 | 2110254 | 0.93 | 0.96 | 0.78 | 0.81 | 5.15 | 528 |
| 9.56 | (2.53) | 1982406 | 0.84 | 0.84 | 0.81 | 0.81 | 3.64 | 174 |
| 10.26 | (3.59) | 3128636 | 0.81 | 0.81 | 0.81 | 0.81 | 3.25 | 145 |
| 10.13 | 5.63 | 219177 | 0.90 | 0.95 | 0.85 | 0.90 | 4.87 | 824 |
| 10.10 | 7.73 | 190027 | 0.89 | 0.94 | 0.85 | 0.90 | 4.83 | 919 |
| 9.83 | 7.56 | 187383 | 1.03 | 1.06 | 0.88 | 0.91 | 5.06 | 528 |
| 9.56 | (2.63) | 237252 | 0.94 | 0.94 | 0.91 | 0.91 | 3.57 | 174 |
| 10.26 | (3.68) | 330748 | 0.91 | 0.91 | 0.91 | 0.91 | 3.17 | 145 |
| 10.13 | 5.59 | 41552 | 0.95 | 1.05 | 0.90 | 1.00 | 4.81 | 824 |
| 10.10 | 7.68 | 34833 | 0.94 | 1.04 | 0.90 | 1.00 | 4.76 | 919 |
| 9.83 | 7.52 | 16639 | 1.15 <sup>(e)</sup> | 1.23 <sup>(e)</sup> | 0.93 <sup>(e)</sup> | 1.01 <sup>(e)</sup> | 4.79 | 528 |
| 9.56 | (2.68) | 2635 | 0.98 | 1.03 | 0.95 | 1.00 | 3.44 | 174 |
| 10.26 | (3.73) | 9557 | 0.96 | 1.01 | 0.96 | 1.01 | 3.08 | 145 |
| 10.13 | 5.32 | 130209 | 1.20 | 1.25 | 1.15 | 1.20 | 4.57 | 824 |
| 10.10 | 7.41 | 140632 | 1.19 | 1.24 | 1.15 | 1.20 | 4.53 | 919 |
| 9.83 | 7.24 | 152069 | 1.33 | 1.36 | 1.18 | 1.21 | 4.76 | 528 |
| 9.56 | (2.92) | 169276 | 1.24 | 1.24 | 1.21 | 1.21 | 3.28 | 174 |
| 10.26 | (3.97) | 222905 | 1.21 | 1.21 | 1.21 | 1.21 | 2.93 | 145 |
| 10.13 | 4.53 | 5552 | 1.95 | 2.00 | 1.90 | 1.95 | 3.82 | 824 |
| 10.10 | 6.61 | 6637 | 1.94 | 1.99 | 1.90 | 1.95 | 3.81 | 919 |
| 9.83 | 6.45 | 10084 | 2.08 | 2.11 | 1.93 | 1.96 | 4.02 | 528 |
| 9.56 | (3.65) | 12832 | 1.99 | 1.99 | 1.96 | 1.96 | 2.51 | 174 |
| 10.26 | (4.69) | 19276 | 1.96 | 1.96 | 1.96 | 1.96 | 2.26 | 145 |

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| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>7</sub> |

---

------

Financial Highlights (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Dynamic Bond Fund (Cont.)** |  |  |  |  |  |  |  |  |
| Class R |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $10.10 | $0.44 | $0.07 | $0.51 | $(0.48) | $0.00 | $0.00 | $(0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.83 | 0.42 | 0.27 | 0.69 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.56 | 0.43 | 0.22 | 0.65 | (0.38) | 0.00 | 0.00 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.26 | 0.30 | (0.63) | (0.33) | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.84 | 0.28 | (0.73) | (0.45) | (0.13) | 0.00 | 0.00 | (0.13) |
|  **PIMCO Extended Duration Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $13.40 | $0.44 | $(0.84) | $(0.40) | $(0.45) | $0.00 | $0.00 | $(0.45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.03 | 0.29 | (0.62) | (0.33) | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 16.43 | 0.28 | (2.03) | (1.75) | (0.24) | (0.41) | 0.00 | (0.65) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 22.56 | 0.52 | (6.12) | (5.60) | (0.53) | 0.00 | 0.00 | (0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 28.48 | 0.84 | 0.36 | 1.20 | (0.72) | (6.40) | 0.00 | (7.12) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 13.40 | 0.42 | (0.84) | (0.42) | (0.43) | 0.00 | 0.00 | (0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.03 | 0.27 | (0.61) | (0.34) | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 16.43 | 0.26 | (2.02) | (1.76) | (0.23) | (0.41) | 0.00 | (0.64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 22.56 | 0.47 | (6.09) | (5.62) | (0.51) | 0.00 | 0.00 | (0.51) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 28.48 | 0.80 | 0.36 | 1.16 | (0.68) | (6.40) | 0.00 | (7.08) |
|  **PIMCO GNMA and Government Securities Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.39 | $0.39 | $0.16 | $0.55 | $(0.43) | $0.00 | $0.00 | $(0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.34 | 0.39 | 0.11 | 0.50 | (0.45) | 0.00 | 0.00 | (0.45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.45 | 0.33 | (0.07) | 0.26 | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.22 | (0.84) | (0.62) | (0.48) | 0.00 | (0.01) | (0.49) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 11.36 | 0.10 | (0.64) | (0.54) | (0.26) | 0.00 | 0.00 | (0.26) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.39 | 0.38 | 0.16 | 0.54 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.34 | 0.38 | 0.11 | 0.49 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.45 | 0.32 | (0.07) | 0.25 | (0.36) | 0.00 | 0.00 | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.21 | (0.84) | (0.63) | (0.47) | 0.00 | (0.01) | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 11.36 | 0.08 | (0.63) | (0.55) | (0.25) | 0.00 | 0.00 | (0.25) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.39 | 0.38 | 0.15 | 0.53 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.34 | 0.37 | 0.12 | 0.49 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.45 | 0.32 | (0.07) | 0.25 | (0.36) | 0.00 | 0.00 | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.24 | (0.87) | (0.63) | (0.47) | 0.00 | (0.01) | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 11.36 | 0.10 | (0.65) | (0.55) | (0.25) | 0.00 | 0.00 | (0.25) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.39 | 0.35 | 0.16 | 0.51 | (0.39) | 0.00 | 0.00 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.34 | 0.35 | 0.11 | 0.46 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.45 | 0.30 | (0.07) | 0.23 | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.18 | (0.84) | (0.66) | (0.44) | 0.00 | (0.01) | (0.45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 11.36 | 0.05 | (0.63) | (0.58) | (0.22) | 0.00 | 0.00 | (0.22) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.39 | 0.28 | 0.16 | 0.44 | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.34 | 0.28 | 0.11 | 0.39 | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.45 | 0.23 | (0.07) | 0.16 | (0.27) | 0.00 | 0.00 | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.11 | (0.84) | (0.73) | (0.37) | 0.00 | (0.01) | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 11.36 | (0.03) | (0.64) | (0.67) | (0.13) | 0.00 | 0.00 | (0.13) |
|  **PIMCO Investment Grade Credit Bond Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.04 | $0.41 | $0.01 | $0.42 | $(0.44) | $0.00 | $0.00 | $(0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.38 | 0.15 | 0.53 | (0.40) | 0.00 | 0.00 | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.33 | 0.06 | 0.39 | (0.33) | 0.00 | (0.03) | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.32 | (0.82) | (0.50) | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.34 | (0.82) | (0.48) | (0.40) | (0.09) | 0.00 | (0.49) |

---

---

| | | |
|:---|:---|:---|
| **8** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** | **Expenses<br>Excluding<br>Waivers** | **Expenses<br>Excluding<br>Interest<br>Expense** | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| $10.13 | 5.06% | $5479 | 1.45% | 1.50% | 1.40% | 1.45% | 4.32% | 824% |
| 10.10 | 7.16 | 5144 | 1.44 | 1.49 | 1.40 | 1.45 | 4.27 | 919 |
| 9.83 | 6.98 | 4812 | 1.58 | 1.61 | 1.43 | 1.46 | 4.51 | 528 |
| 9.56 | (3.17) | 5041 | 1.49 | 1.49 | 1.46 | 1.46 | 3.06 | 174 |
| 10.26 | (4.21) | 5510 | 1.46 | 1.46 | 1.46 | 1.46 | 2.64 | 145 |
| $12.55 | (3.03)% | $478813 | 5.36% | 5.36% | 0.50% | 0.50% | 3.44% | 145% |
| 13.40 | (2.31) | 428208 | 6.80 | 6.80 | 0.50 | 0.50 | 2.14 | 117 |
| 14.03 | (10.65) | 551213 | 6.20 | 6.20 | 0.50 | 0.50 | 1.93 | 119 |
| 16.43 | (24.87) | 604478 | 2.99 | 2.99 | 0.50 | 0.50 | 3.01 | 119 |
| 22.56 | 1.18 | 695468 | 0.54 | 0.54 | 0.50 | 0.50 | 2.84 | 73 |
| 12.55 | (3.13) | 14407 | 5.55 <sup>(e)</sup> | 5.55 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 3.31 | 145 |
| 13.40 | (2.41) | 17668 | 6.90 | 6.90 | 0.60 | 0.60 | 1.98 | 117 |
| 14.03 | (10.74) | 27331 | 6.30 | 6.30 | 0.60 | 0.60 | 1.84 | 119 |
| 16.43 | (24.95) | 43525 | 3.42 <sup>(e)</sup> | 3.42 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 2.80 | 119 |
| 22.56 | 1.08 | 36796 | 0.64 | 0.64 | 0.60 | 0.60 | 2.80 | 73 |
| $9.51 | 5.92% | $587950 | 2.43% | 2.43% | 0.50% | 0.50% | 4.14% | 1297% |
| 9.39 | 5.50 | 580870 | 1.89 | 1.89 | 0.50 | 0.50 | 4.14 | 1358 |
| 9.34 | 2.91 | 592930 | 1.46 | 1.46 | 0.50 | 0.50 | 3.63 | 1329 |
| 9.45 | (5.80) | 554311 | 1.33 | 1.33 | 0.50 | 0.50 | 2.24 | 1167 |
| 10.56 | (4.82) | 541861 | 0.52 | 0.52 | 0.50 | 0.50 | 0.86 | 1082 |
| 9.51 | 5.82 | 511711 | 2.53 | 2.53 | 0.60 | 0.60 | 4.04 | 1297 |
| 9.39 | 5.39 | 446405 | 1.99 | 1.99 | 0.60 | 0.60 | 4.04 | 1358 |
| 9.34 | 2.80 | 542230 | 1.56 | 1.56 | 0.60 | 0.60 | 3.54 | 1329 |
| 9.45 | (5.90) | 389287 | 1.43 | 1.43 | 0.60 | 0.60 | 2.16 | 1167 |
| 10.56 | (4.92) | 386422 | 0.62 | 0.62 | 0.60 | 0.60 | 0.73 | 1082 |
| 9.51 | 5.76 | 69684 | 2.58 | 2.63 | 0.65 | 0.70 | 3.99 | 1297 |
| 9.39 | 5.34 | 83510 | 2.04 | 2.09 | 0.65 | 0.70 | 3.99 | 1358 |
| 9.34 | 2.75 | 79892 | 1.61 | 1.66 | 0.65 | 0.70 | 3.49 | 1329 |
| 9.45 | (5.94) | 66191 | 1.69 <sup>(e)</sup> | 1.74 <sup>(e)</sup> | 0.65 <sup>(e)</sup> | 0.70 <sup>(e)</sup> | 2.53 | 1167 |
| 10.56 | (4.97) | 2708 | 0.67 | 0.72 | 0.65 | 0.70 | 0.85 | 1082 |
| 9.51 | 5.50 | 158075 | 2.83 | 2.83 | 0.90 | 0.90 | 3.74 | 1297 |
| 9.39 | 5.08 | 175659 | 2.29 | 2.29 | 0.90 | 0.90 | 3.74 | 1358 |
| 9.34 | 2.50 | 206659 | 1.86 | 1.86 | 0.90 | 0.90 | 3.22 | 1329 |
| 9.45 | (6.18) | 206950 | 1.73 | 1.73 | 0.90 | 0.90 | 1.84 | 1167 |
| 10.56 | (5.20) | 247080 | 0.92 | 0.92 | 0.90 | 0.90 | 0.49 | 1082 |
| 9.51 | 4.72 | 6891 | 3.58 | 3.58 | 1.65 | 1.65 | 2.99 | 1297 |
| 9.39 | 4.29 | 8530 | 3.04 | 3.04 | 1.65 | 1.65 | 2.99 | 1358 |
| 9.34 | 1.74 | 12175 | 2.61 | 2.61 | 1.65 | 1.65 | 2.46 | 1329 |
| 9.45 | (6.89) | 13946 | 2.48 | 2.48 | 1.65 | 1.65 | 1.08 | 1167 |
| 10.56 | (5.91) | 20023 | 1.67 | 1.67 | 1.65 | 1.65 | (0.30) | 1082 |
| $9.02 | 4.68% | $5630738 | 0.57% | 0.57% | 0.50% | 0.50% | 4.48% | 209% |
| 9.04 | 6.09 | 5329732 | 0.95 | 0.95 | 0.50 | 0.50 | 4.27 | 270 |
| 8.91 | 4.50 | 5384982 | 1.09 | 1.09 | 0.50 | 0.50 | 3.83 | 150 |
| 8.88 | (5.07) | 5372945 | 1.04 | 1.04 | 0.50 | 0.50 | 3.54 | 78 |
| 9.75 | (4.83) | 8198437 | 0.51 | 0.51 | 0.50 | 0.50 | 3.21 | 89 |

---

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| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>9</sub> |

---

------

Financial Highlights (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Investment Grade Credit Bond Fund (Cont.)** |  |  |  |  |  |  |  |  |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.04 | $0.40 | $0.01 | $0.41 | $(0.43) | $0.00 | $0.00 | $(0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.37 | 0.15 | 0.52 | (0.39) | 0.00 | 0.00 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.32 | 0.06 | 0.38 | (0.32) | 0.00 | (0.03) | (0.35) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.31 | (0.82) | (0.51) | (0.36) | 0.00 | 0.00 | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.33 | (0.82) | (0.49) | (0.39) | (0.09) | 0.00 | (0.48) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.04 | 0.40 | 0.01 | 0.41 | (0.43) | 0.00 | 0.00 | (0.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.37 | 0.15 | 0.52 | (0.39) | 0.00 | 0.00 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.32 | 0.05 | 0.37 | (0.31) | 0.00 | (0.03) | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.30 | (0.82) | (0.52) | (0.35) | 0.00 | 0.00 | (0.35) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.33 | (0.83) | (0.50) | (0.38) | (0.09) | 0.00 | (0.47) |
| Administrative Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.04 | 0.39 | 0.01 | 0.40 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.36 | 0.15 | 0.51 | (0.38) | 0.00 | 0.00 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.31 | 0.05 | 0.36 | (0.30) | 0.00 | (0.03) | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.30 | (0.83) | (0.53) | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.32 | (0.83) | (0.51) | (0.37) | (0.09) | 0.00 | (0.46) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.04 | 0.38 | 0.00 | 0.38 | (0.40) | 0.00 | 0.00 | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.35 | 0.15 | 0.50 | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.30 | 0.05 | 0.35 | (0.29) | 0.00 | (0.03) | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.28 | (0.82) | (0.54) | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.30 | (0.83) | (0.53) | (0.35) | (0.09) | 0.00 | (0.44) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.04 | 0.30 | 0.01 | 0.31 | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.91 | 0.28 | 0.15 | 0.43 | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.88 | 0.23 | 0.06 | 0.29 | (0.23) | 0.00 | (0.03) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.75 | 0.21 | (0.82) | (0.61) | (0.26) | 0.00 | 0.00 | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.72 | 0.22 | (0.83) | (0.61) | (0.27) | (0.09) | 0.00 | (0.36) |
|  **PIMCO Long Duration Total Return Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $7.24 | $0.31 | $(0.11) | $0.20 | $(0.33) | $0.00 | $0.00 | $(0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.24 | 0.27 | 0.02 | 0.29 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.51 | 0.24 | (0.26) | (0.02) | (0.25) | 0.00 | 0.00 | (0.25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.11 | 0.29 | (1.60) | (1.31) | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.91 | 0.38 | (0.52) | (0.14) | (0.36) | (0.30) | 0.00 | (0.66) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.24 | 0.30 | (0.11) | 0.19 | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.24 | 0.26 | 0.02 | 0.28 | (0.28) | 0.00 | 0.00 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.51 | 0.23 | (0.26) | (0.03) | (0.24) | 0.00 | 0.00 | (0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.11 | 0.28 | (1.59) | (1.31) | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.91 | 0.37 | (0.52) | (0.15) | (0.35) | (0.30) | 0.00 | (0.65) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.24 | 0.28 | (0.11) | 0.17 | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.24 | 0.24 | 0.02 | 0.26 | (0.26) | 0.00 | 0.00 | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.51 | 0.21 | (0.26) | (0.05) | (0.22) | 0.00 | 0.00 | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.11 | 0.25 | (1.59) | (1.34) | (0.26) | 0.00 | 0.00 | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.91 | 0.34 | (0.52) | (0.18) | (0.32) | (0.30) | 0.00 | (0.62) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.24 | 0.23 | (0.11) | 0.12 | (0.25) | 0.00 | 0.00 | (0.25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.24 | 0.19 | 0.01 | 0.20 | (0.20) | 0.00 | 0.00 | (0.20) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.51 | 0.16 | (0.26) | (0.10) | (0.17) | 0.00 | 0.00 | (0.17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.11 | 0.19 | (1.58) | (1.39) | (0.21) | 0.00 | 0.00 | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.91 | 0.26 | (0.52) | (0.26) | (0.24) | (0.30) | 0.00 | (0.54) |

---

---

| | | |
|:---|:---|:---|
| **10** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** | **Expenses<br>Excluding<br>Waivers** | **Expenses<br>Excluding<br>Interest<br>Expense** | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| $9.02 | 4.57% | $6638067 | 0.67% | 0.67% | 0.60% | 0.60% | 4.38% | 209% |
| 9.04 | 5.98 | 6241906 | 1.05 | 1.05 | 0.60 | 0.60 | 4.18 | 270 |
| 8.91 | 4.39 | 5673929 | 1.19 | 1.19 | 0.60 | 0.60 | 3.73 | 150 |
| 8.88 | (5.16) | 5750592 | 1.14 | 1.14 | 0.60 | 0.60 | 3.44 | 78 |
| 9.75 | (4.93) | 6370209 | 0.61 | 0.61 | 0.60 | 0.60 | 3.11 | 89 |
| 9.02 | 4.52 | 149351 | 0.72 | 0.77 | 0.65 | 0.70 | 4.34 | 209 |
| 9.04 | 5.93 | 122579 | 1.10 | 1.15 | 0.65 | 0.70 | 4.13 | 270 |
| 8.91 | 4.34 | 109883 | 1.24 | 1.29 | 0.65 | 0.70 | 3.67 | 150 |
| 8.88 | (5.21) | 122874 | 1.19 | 1.24 | 0.65 | 0.70 | 3.40 | 78 |
| 9.75 | (4.97) | 86492 | 0.66 | 0.71 | 0.65 | 0.70 | 3.07 | 89 |
| 9.02 | 4.42 | 14600 | 0.82 | 0.82 | 0.75 | 0.75 | 4.23 | 209 |
| 9.04 | 5.83 | 18119 | 1.20 | 1.20 | 0.75 | 0.75 | 4.01 | 270 |
| 8.91 | 4.24 | 22789 | 1.34 | 1.34 | 0.75 | 0.75 | 3.56 | 150 |
| 8.88 | (5.31) | 32810 | 1.29 | 1.29 | 0.75 | 0.75 | 3.30 | 78 |
| 9.75 | (5.07) | 50691 | 0.76 | 0.76 | 0.75 | 0.75 | 2.93 | 89 |
| 9.02 | 4.26 | 643547 | 0.97 | 0.97 | 0.90 | 0.90 | 4.13 | 209 |
| 9.04 | 5.67 | 693314 | 1.35 | 1.35 | 0.90 | 0.90 | 3.87 | 270 |
| 8.91 | 4.08 | 764931 | 1.49 | 1.49 | 0.90 | 0.90 | 3.42 | 150 |
| 8.88 | (5.45) | 871404 | 1.44 | 1.44 | 0.90 | 0.90 | 3.15 | 78 |
| 9.75 | (5.21) | 1122903 | 0.91 | 0.91 | 0.90 | 0.90 | 2.81 | 89 |
| 9.02 | 3.48 | 42574 | 1.72 | 1.72 | 1.65 | 1.65 | 3.33 | 209 |
| 9.04 | 4.88 | 62860 | 2.10 | 2.10 | 1.65 | 1.65 | 3.11 | 270 |
| 8.91 | 3.31 | 86264 | 2.24 | 2.24 | 1.65 | 1.65 | 2.66 | 150 |
| 8.88 | (6.16) | 115151 | 2.19 | 2.19 | 1.65 | 1.65 | 2.40 | 78 |
| 9.75 | (5.92) | 167467 | 1.66 | 1.66 | 1.65 | 1.65 | 2.05 | 89 |
| $7.11 | 2.80% | $2093935 | 2.16% | 2.16% | 0.50% | 0.50% | 4.30% | 206% |
| 7.24 | 4.06 | 2097832 | 3.89 | 3.89 | 0.50 | 0.50 | 3.70 | 178 |
| 7.24 | (0.15) | 2475471 | 3.00 | 3.00 | 0.50 | 0.50 | 3.38 | 176 |
| 7.51 | (14.29) | 2948352 | 1.72 | 1.72 | 0.50 | 0.50 | 3.77 | 161 |
| 9.11 | (1.96) | 3459023 | 0.53 | 0.53 | 0.50 | 0.50 | 3.68 | 65 |
| 7.11 | 2.70 | 79952 | 2.26 | 2.26 | 0.60 | 0.60 | 4.20 | 206 |
| 7.24 | 3.96 | 114669 | 3.99 | 3.99 | 0.60 | 0.60 | 3.57 | 178 |
| 7.24 | (0.25) | 137542 | 3.16 <sup>(e)</sup> | 3.16 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 3.31 | 176 |
| 7.51 | (14.37) | 101898 | 1.86 <sup>(e)</sup> | 1.86 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 3.65 | 161 |
| 9.11 | (2.06) | 99612 | 0.63 | 0.63 | 0.60 | 0.60 | 3.58 | 65 |
| 7.11 | 2.39 | 43612 | 2.56 | 2.56 | 0.90 | 0.90 | 3.90 | 206 |
| 7.24 | 3.64 | 43086 | 4.29 | 4.29 | 0.90 | 0.90 | 3.31 | 178 |
| 7.24 | (0.53) | 33424 | 3.33 <sup>(e)</sup> | 3.33 <sup>(e)</sup> | 0.90 <sup>(e)</sup> | 0.90 <sup>(e)</sup> | 2.98 | 176 |
| 7.51 | (14.63) | 54117 | 2.26 <sup>(e)</sup> | 2.26 <sup>(e)</sup> | 0.90 <sup>(e)</sup> | 0.90 <sup>(e)</sup> | 3.30 | 161 |
| 9.11 | (2.34) | 26529 | 0.93 | 0.93 | 0.90 | 0.90 | 3.28 | 65 |
| 7.11 | 1.63 | 7783 | 3.31 | 3.31 | 1.65 | 1.65 | 3.15 | 206 |
| 7.24 | 2.87 | 9510 | 4.98 <sup>(e)</sup> | 4.98 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 2.57 | 178 |
| 7.24 | (1.28) | 9560 | 4.31 <sup>(e)</sup> | 4.31 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 2.26 | 176 |
| 7.51 | (15.28) | 4626 | 3.07 <sup>(e)</sup> | 3.07 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 1.65 <sup>(e)</sup> | 2.49 | 161 |
| 9.11 | (3.08) | 2066 | 1.68 | 1.68 | 1.65 | 1.65 | 2.51 | 65 |

---

---

| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>11</sub> |

---

------

Financial Highlights (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Long-Term U.S. Government Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $14.26 | $0.52 | $(0.39) | $0.13 | $(0.55) | $0.00 | $0.00 | $(0.55) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.46 | 0.45 | (0.17) | 0.28 | (0.48) | 0.00 | 0.00 | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 15.80 | 0.45 | (1.33) | (0.88) | (0.46) | 0.00 | 0.00 | (0.46) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 19.24 | 0.40 | (3.42) | (3.02) | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 20.92 | 0.40 | (0.64) | (0.24) | (0.40) | (1.04) | 0.00 | (1.44) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 14.26 | 0.50 | (0.38) | 0.12 | (0.54) | 0.00 | 0.00 | (0.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.46 | 0.44 | (0.17) | 0.27 | (0.47) | 0.00 | 0.00 | (0.47) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 15.80 | 0.44 | (1.34) | (0.90) | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 19.24 | 0.38 | (3.41) | (3.03) | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 20.92 | 0.36 | (0.64) | (0.28) | (0.36) | (1.04) | 0.00 | (1.40) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 14.26 | 0.47 | (0.39) | 0.08 | (0.50) | 0.00 | 0.00 | (0.50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.46 | 0.40 | (0.16) | 0.24 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 15.80 | 0.40 | (1.33) | (0.93) | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 19.24 | 0.34 | (3.41) | (3.07) | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 20.92 | 0.32 | (0.64) | (0.32) | (0.32) | (1.04) | 0.00 | (1.36) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 14.26 | 0.36 | (0.38) | (0.02) | (0.40) | 0.00 | 0.00 | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 14.46 | 0.30 | (0.17) | 0.13 | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 15.80 | 0.29 | (1.33) | (1.04) | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023~ | 19.24 | 0.22 | (3.42) | (3.20) | (0.24) | 0.00 | 0.00 | (0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022~ | 20.92 | 0.16 | (0.64) | (0.48) | (0.16) | (1.04) | 0.00 | (1.20) |
|  **PIMCO Low Duration Opportunities Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $10.70 | $0.49 | $0.11 | $0.60 | $(0.50) | $0.00 | $0.00 | $(0.50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 10.40 | 0.50 | 0.25 | 0.75 | (0.45) | 0.00 | 0.00 | (0.45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 10.08 | 0.49 | 0.15 | 0.64 | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.29 | (0.46) | (0.17) | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.98 | 0.15 | (0.45) | (0.30) | (0.12) | 0.00 | 0.00 | (0.12) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.70 | 0.48 | 0.11 | 0.59 | (0.49) | 0.00 | 0.00 | (0.49) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 10.40 | 0.49 | 0.25 | 0.74 | (0.44) | 0.00 | 0.00 | (0.44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 10.08 | 0.48 | 0.15 | 0.63 | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.28 | (0.46) | (0.18) | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.98 | 0.14 | (0.45) | (0.31) | (0.11) | 0.00 | 0.00 | (0.11) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.70 | 0.45 | 0.11 | 0.56 | (0.46) | 0.00 | 0.00 | (0.46) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 10.40 | 0.46 | 0.25 | 0.71 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 10.08 | 0.45 | 0.15 | 0.60 | (0.28) | 0.00 | 0.00 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.25 | (0.46) | (0.21) | (0.27) | 0.00 | 0.00 | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.98 | 0.11 | (0.45) | (0.34) | (0.08) | 0.00 | 0.00 | (0.08) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 10.70 | 0.37 | 0.11 | 0.48 | (0.38) | 0.00 | 0.00 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 10.40 | 0.38 | 0.25 | 0.63 | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 10.08 | 0.38 | 0.15 | 0.53 | (0.21) | 0.00 | 0.00 | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.56 | 0.18 | (0.48) | (0.30) | (0.18) | 0.00 | 0.00 | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.98 | 0.02 | (0.44) | (0.42) | 0.00 | 0.00 | 0.00 | 0.00 |
|  **PIMCO Moderate Duration Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.34 | $0.42 | $0.03 | $0.45 | $(0.42) | $0.00 | $0.00 | $(0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.17 | 0.40 | 0.19 | 0.59 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.23 | 0.41 | (0.07) | 0.34 | (0.33) | 0.00 | (0.07) | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.83 | 0.27 | (0.48) | (0.21) | (0.39) | 0.00 | 0.00 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.42 | 0.16 | (0.61) | (0.45) | (0.13) | 0.00 | (0.01) | (0.14) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.34 | 0.41 | 0.03 | 0.44 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.17 | 0.39 | 0.19 | 0.58 | (0.41) | 0.00 | 0.00 | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.23 | 0.40 | (0.07) | 0.33 | (0.32) | 0.00 | (0.07) | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 9.83 | 0.30 | (0.52) | (0.22) | (0.38) | 0.00 | 0.00 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.42 | 0.15 | (0.61) | (0.46) | (0.12) | 0.00 | (0.01) | (0.13) |

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| | | |
|:---|:---|:---|
| **12** | **PIMCO BOND FUNDS** | See Accompanying Notes |

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------

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** | **Expenses<br>Excluding<br>Waivers** | **Expenses<br>Excluding<br>Interest<br>Expense** | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| $13.84 | 0.93% | $577755 | 3.725% | 3.725% | 0.475% | 0.475% | 3.68% | 142% |
| 14.26 | 2.04 | 669988 | 3.655 | 3.655 | 0.475 | 0.475 | 3.17 | 138 |
| 14.46 | (5.56) | 825652 | 1.875 | 1.875 | 0.475 | 0.475 | 3.13 | 144 |
| 15.80 | (15.67) | 723159 | 1.045 | 1.045 | 0.475 | 0.475 | 2.49 | 143 |
| 19.24 | (1.74) | 517558 | 0.485 | 0.485 | 0.475 | 0.475 | 1.84 | 103 |
| 13.84 | 0.83 | 78477 | 3.825 | 3.825 | 0.575 | 0.575 | 3.58 | 142 |
| 14.26 | 1.93 | 87049 | 3.755 | 3.755 | 0.575 | 0.575 | 3.06 | 138 |
| 14.46 | (5.65) | 172127 | 2.045 <sup>(e)</sup> | 2.045 <sup>(e)</sup> | 0.575 <sup>(e)</sup> | 0.575 <sup>(e)</sup> | 3.05 | 144 |
| 15.80 | (15.76) | 96860 | 1.145 | 1.145 | 0.575 | 0.575 | 2.39 | 143 |
| 19.24 | (1.84) | 65785 | 0.585 | 0.585 | 0.575 | 0.575 | 1.74 | 103 |
| 13.84 | 0.58 | 38160 | 4.075 | 4.075 | 0.825 | 0.825 | 3.34 | 142 |
| 14.26 | 1.68 | 42257 | 4.005 | 4.005 | 0.825 | 0.825 | 2.83 | 138 |
| 14.46 | (5.88) | 46659 | 2.225 | 2.225 | 0.825 | 0.825 | 2.75 | 144 |
| 15.80 | (15.97) | 58241 | 1.345 <sup>(e)</sup> | 1.345 <sup>(e)</sup> | 0.825 <sup>(e)</sup> | 0.825 <sup>(e)</sup> | 2.12 | 143 |
| 19.24 | (2.09) | 68558 | 0.835 | 0.835 | 0.825 | 0.825 | 1.49 | 103 |
| 13.84 | (0.16) | 31036 | 4.825 | 4.825 | 1.575 | 1.575 | 2.59 | 142 |
| 14.26 | 0.92 | 28959 | 4.755 | 4.755 | 1.575 | 1.575 | 2.08 | 138 |
| 14.46 | (6.58) | 20891 | 2.975 | 2.975 | 1.575 | 1.575 | 2.03 | 144 |
| 15.80 | (16.61) | 14751 | 2.145 <sup>(e)</sup> | 2.145 <sup>(e)</sup> | 1.575 <sup>(e)</sup> | 1.575 <sup>(e)</sup> | 1.37 | 143 |
| 19.24 | (2.81) | 13289 | 1.585 | 1.585 | 1.575 | 1.575 | 0.74 | 103 |
| $10.80 | 5.72% | $30580 | 0.56% | 0.56% | 0.55% | 0.55% | 4.57% | 821% |
| 10.70 | 7.39 | 26103 | 0.57 | 0.57 | 0.55 | 0.55 | 4.77 | 951 |
| 10.40 | 6.47 | 34901 | 0.57 | 0.59 | 0.53 | 0.55 | 4.88 | 714 |
| 10.08 | (1.55) | 45204 | 0.52 | 0.57 | 0.51 | 0.56 | 2.80 | 327 |
| 10.56 | (2.77) | 81791 | 0.51 | 0.56 | 0.51 | 0.56 | 1.36 | 199 |
| 10.80 | 5.62 | 67260 | 0.66 | 0.66 | 0.65 | 0.65 | 4.47 | 821 |
| 10.70 | 7.29 | 58059 | 0.67 | 0.67 | 0.65 | 0.65 | 4.63 | 951 |
| 10.40 | 6.36 | 31578 | 0.67 | 0.69 | 0.63 | 0.65 | 4.75 | 714 |
| 10.08 | (1.65) | 25346 | 0.62 | 0.67 | 0.61 | 0.66 | 2.73 | 327 |
| 10.56 | (2.86) | 35225 | 0.61 | 0.66 | 0.61 | 0.66 | 1.25 | 199 |
| 10.80 | 5.30 | 11924 | 0.96 | 0.96 | 0.95 | 0.95 | 4.17 | 821 |
| 10.70 | 6.96 | 11190 | 0.97 | 0.97 | 0.95 | 0.95 | 4.35 | 951 |
| 10.40 | 6.05 | 13008 | 0.97 | 0.99 | 0.93 | 0.95 | 4.48 | 714 |
| 10.08 | (1.95) | 16476 | 0.92 | 0.97 | 0.91 | 0.96 | 2.48 | 327 |
| 10.56 | (3.15) | 23580 | 0.91 | 0.96 | 0.91 | 0.96 | 0.96 | 199 |
| 10.80 | 4.52 | 1142 | 1.71 | 1.71 | 1.70 | 1.70 | 3.44 | 821 |
| 10.70 | 6.17 | 1133 | 1.72 | 1.72 | 1.70 | 1.70 | 3.60 | 951 |
| 10.40 | 5.26 | 1186 | 1.72 | 1.74 | 1.68 | 1.70 | 3.74 | 714 |
| 10.08 | (2.80) | 2383 | 1.67 | 1.72 | 1.66 | 1.71 | 1.72 | 327 |
| 10.56 | (3.80) | 3607 | 1.66 | 1.71 | 1.66 | 1.71 | 0.21 | 199 |
| $9.37 | 4.84% | $1742421 | 0.70% | 0.72% | 0.44% | 0.46% | 4.41% | 264% |
| 9.34 | 6.56 | 1648519 | 0.95 | 0.95 | 0.46 | 0.46 | 4.33 | 272 |
| 9.17 | 3.77 | 1396694 | 0.53 | 0.53 | 0.46 | 0.46 | 4.53 | 286 |
| 9.23 | (2.05) | 1377011 | 0.49 | 0.49 | 0.46 | 0.46 | 2.92 | 221 |
| 9.83 | (4.39) | 1399413 | 0.46 | 0.46 | 0.46 | 0.46 | 1.58 | 63 |
| 9.37 | 4.74 | 18662 | 0.80 | 0.82 | 0.54 | 0.56 | 4.31 | 264 |
| 9.34 | 6.45 | 14594 | 0.95 <sup>(e)</sup> | 0.95 <sup>(e)</sup> | 0.56 <sup>(e)</sup> | 0.56 <sup>(e)</sup> | 4.24 | 272 |
| 9.17 | 3.67 | 4599 | 0.63 | 0.63 | 0.56 | 0.56 | 4.39 | 286 |
| 9.23 | (2.14) | 10930 | 0.59 | 0.59 | 0.56 | 0.56 | 3.21 | 221 |
| 9.83 | (4.49) | 3737 | 0.56 | 0.56 | 0.56 | 0.56 | 1.48 | 63 |

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| | | |
|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026<sub>13</sub> |

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------

Financial Highlights (Cont.)

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Mortgage Opportunities and Bond Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.34 | $0.48 | $0.05 | $0.53 | $(0.53) | $0.00 | $0.00 | $(0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.37 | 0.47 | 0.17 | 0.64 | (0.67) | 0.00 | 0.00 | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.42 | 0.37 | 0.22 | 0.59 | (0.64) | 0.00 | 0.00 | (0.64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.50 | 0.40 | (0.74) | (0.34) | (0.73) | 0.00 | (0.01) | (0.74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.94 | 0.35 | (0.39) | (0.04) | (0.40) | 0.00 | 0.00 | (0.40) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.34 | 0.47 | 0.05 | 0.52 | (0.52) | 0.00 | 0.00 | (0.52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.37 | 0.46 | 0.18 | 0.64 | (0.67) | 0.00 | 0.00 | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.42 | 0.37 | 0.22 | 0.59 | (0.64) | 0.00 | 0.00 | (0.64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.50 | 0.39 | (0.74) | (0.35) | (0.72) | 0.00 | (0.01) | (0.73) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.94 | 0.34 | (0.39) | (0.05) | (0.39) | 0.00 | 0.00 | (0.39) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.34 | 0.47 | 0.05 | 0.52 | (0.52) | 0.00 | 0.00 | (0.52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.37 | 0.46 | 0.17 | 0.63 | (0.66) | 0.00 | 0.00 | (0.66) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.42 | 0.36 | 0.22 | 0.58 | (0.63) | 0.00 | 0.00 | (0.63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.50 | 0.39 | (0.74) | (0.35) | (0.72) | 0.00 | (0.01) | (0.73) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.94 | 0.33 | (0.38) | (0.05) | (0.39) | 0.00 | 0.00 | (0.39) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.34 | 0.45 | 0.04 | 0.49 | (0.49) | 0.00 | 0.00 | (0.49) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.37 | 0.43 | 0.18 | 0.61 | (0.64) | 0.00 | 0.00 | (0.64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.42 | 0.34 | 0.22 | 0.56 | (0.61) | 0.00 | 0.00 | (0.61) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.50 | 0.36 | (0.74) | (0.38) | (0.69) | 0.00 | (0.01) | (0.70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.94 | 0.31 | (0.39) | (0.08) | (0.36) | 0.00 | 0.00 | (0.36) |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.34 | 0.38 | 0.04 | 0.42 | (0.42) | 0.00 | 0.00 | (0.42) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.37 | 0.36 | 0.18 | 0.54 | (0.57) | 0.00 | 0.00 | (0.57) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.42 | 0.26 | 0.23 | 0.49 | (0.54) | 0.00 | 0.00 | (0.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.50 | 0.29 | (0.74) | (0.45) | (0.62) | 0.00 | (0.01) | (0.63) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.94 | 0.22 | (0.38) | (0.16) | (0.28) | 0.00 | 0.00 | (0.28) |
|  **PIMCO Total Return ESG Fund** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $7.73 | $0.30 | $0.05 | $0.35 | $(0.30) | $0.00 | $0.00 | $(0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.28 | 0.15 | 0.43 | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.25 | (0.04) | 0.21 | (0.16) | 0.00 | (0.12) | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.64 | 0.22 | (0.84) | (0.62) | (0.35) | 0.00 | 0.00 | (0.35) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.33 | 0.20 | (0.62) | (0.42) | (0.20) | (0.07) | 0.00 | (0.27) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.73 | 0.29 | 0.06 | 0.35 | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.27 | 0.15 | 0.42 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.24 | (0.04) | 0.20 | (0.15) | 0.00 | (0.12) | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.64 | 0.21 | (0.84) | (0.63) | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.33 | 0.19 | (0.62) | (0.43) | (0.19) | (0.07) | 0.00 | (0.26) |
| I-3 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.73 | 0.29 | 0.05 | 0.34 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.27 | 0.15 | 0.42 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.24 | (0.04) | 0.20 | (0.15) | 0.00 | (0.12) | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 07/29/2022 - 03/31/2023 | 8.20 | 0.16 | (0.42) | (0.26) | (0.27) | 0.00 | 0.00 | (0.27) |
| Administrative Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.73 | 0.28 | 0.05 | 0.33 | (0.28) | 0.00 | 0.00 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.26 | 0.15 | 0.41 | (0.28) | 0.00 | 0.00 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.23 | (0.04) | 0.19 | (0.14) | 0.00 | (0.12) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.64 | 0.20 | (0.84) | (0.64) | (0.33) | 0.00 | 0.00 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.33 | 0.18 | (0.62) | (0.44) | (0.18) | (0.07) | 0.00 | (0.25) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 7.73 | 0.27 | 0.05 | 0.32 | (0.27) | 0.00 | 0.00 | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.25 | 0.15 | 0.40 | (0.27) | 0.00 | 0.00 | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.22 | (0.04) | 0.18 | (0.13) | 0.00 | (0.12) | (0.25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.64 | 0.19 | (0.85) | (0.66) | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.33 | 0.16 | (0.61) | (0.45) | (0.17) | (0.07) | 0.00 | (0.24) |

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| | | |
|:---|:---|:---|
| **14** | **PIMCO BOND FUNDS** | See Accompanying Notes |

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------

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** |  | **Expenses<br>Excluding<br>Waivers** |  | **Expenses<br>Excluding<br>Interest<br>Expense** |  | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** |  | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** |  |  |  |  |  |  |  |  |  |  |  |  |
| $9.34 | 5.81% | $9624987 | 2.14 | % | 2.14 | % | 0.60 | % | 0.60 | % | 5.15% | 1004% |
| 9.34 | 7.13 | 8433044 | 1.68 |  | 1.68 |  | 0.60 |  | 0.60 |  | 5.02 | 1120 |
| 9.37 | 6.57 | 6457261 | 2.14 |  | 2.14 |  | 0.60 |  | 0.60 |  | 4.02 | 1239 |
| 9.42 | (3.14) | 5063979 | 1.35 |  | 1.35 |  | 0.60 |  | 0.60 |  | 4.06 | 926 |
| 10.50 | (0.40) | 5631928 | 0.63 |  | 0.63 |  | 0.60 |  | 0.60 |  | 3.20 | 720 |
| 9.34 | 5.71 | 3574752 | 2.24 |  | 2.24 |  | 0.70 |  | 0.70 |  | 5.05 | 1004 |
| 9.34 | 7.03 | 2797117 | 1.78 |  | 1.78 |  | 0.70 |  | 0.70 |  | 4.92 | 1120 |
| 9.37 | 6.46 | 2450603 | 2.24 |  | 2.24 |  | 0.70 |  | 0.70 |  | 3.95 | 1239 |
| 9.42 | (3.24) | 1643989 | 1.45 |  | 1.45 |  | 0.70 |  | 0.70 |  | 3.97 | 926 |
| 10.50 | (0.50) | 1756926 | 0.73 |  | 0.73 |  | 0.70 |  | 0.70 |  | 3.12 | 720 |
| 9.34 | 5.65 | 100516 | 2.29 |  | 2.34 |  | 0.75 |  | 0.80 |  | 5.01 | 1004 |
| 9.34 | 6.98 | 81064 | 1.83 |  | 1.88 |  | 0.75 |  | 0.80 |  | 4.88 | 1120 |
| 9.37 | 6.41 | 78661 | 2.29 |  | 2.34 |  | 0.75 |  | 0.80 |  | 3.88 | 1239 |
| 9.42 | (3.29) | 75482 | 1.50 |  | 1.55 |  | 0.75 |  | 0.80 |  | 3.93 | 926 |
| 10.50 | (0.55) | 70707 | 0.78 |  | 0.83 |  | 0.75 |  | 0.80 |  | 3.08 | 720 |
| 9.34 | 5.40 | 254119 | 2.54 |  | 2.54 |  | 1.00 |  | 1.00 |  | 4.76 | 1004 |
| 9.34 | 6.71 | 291036 | 2.08 |  | 2.08 |  | 1.00 |  | 1.00 |  | 4.61 | 1120 |
| 9.37 | 6.14 | 208197 | 2.54 |  | 2.54 |  | 1.00 |  | 1.00 |  | 3.64 | 1239 |
| 9.42 | (3.53) | 226211 | 1.75 |  | 1.75 |  | 1.00 |  | 1.00 |  | 3.68 | 926 |
| 10.50 | (0.80) | 187669 | 1.03 |  | 1.03 |  | 1.00 |  | 1.00 |  | 2.81 | 720 |
| 9.34 | 4.61 | 51075 | 3.29 |  | 3.29 |  | 1.75 |  | 1.75 |  | 4.00 | 1004 |
| 9.34 | 5.91 | 49367 | 2.83 |  | 2.83 |  | 1.75 |  | 1.75 |  | 3.86 | 1120 |
| 9.37 | 5.36 | 29109 | 3.29 |  | 3.29 |  | 1.75 |  | 1.75 |  | 2.83 | 1239 |
| 9.42 | (4.26) | 25259 | 2.50 |  | 2.50 |  | 1.75 |  | 1.75 |  | 2.92 | 926 |
| 10.50 | (1.54) | 30577 | 1.78 |  | 1.78 |  | 1.75 |  | 1.75 |  | 2.05 | 720 |
| $7.78 | 4.64% | $1360158 | 1.28 | % | 1.28 | % | 0.50 | % | 0.50 | % | 3.86% | 187% |
| 7.73 | 5.75 | 1323227 | 1.45 |  | 1.45 |  | 0.50 |  | 0.50 |  | 3.67 | 391 |
| 7.60 | 2.86 | 1601878 | 0.82 |  | 0.82 |  | 0.50 |  | 0.50 |  | 3.37 | 468 |
| 7.67 | (7.17) | 1803296 | 0.61 |  | 0.61 |  | 0.50 |  | 0.50 |  | 2.79 | 391 |
| 8.64 | (4.61) | 2054386 | 0.51 |  | 0.51 |  | 0.50 |  | 0.50 |  | 2.15 | 184 |
| 7.78 | 4.53 | 270057 | 1.38 |  | 1.38 |  | 0.60 |  | 0.60 |  | 3.76 | 187 |
| 7.73 | 5.65 | 255909 | 1.55 |  | 1.55 |  | 0.60 |  | 0.60 |  | 3.58 | 391 |
| 7.60 | 2.76 | 246329 | 0.92 |  | 0.92 |  | 0.60 |  | 0.60 |  | 3.27 | 468 |
| 7.67 | (7.26) | 276253 | 0.71 |  | 0.71 |  | 0.60 |  | 0.60 |  | 2.67 | 391 |
| 8.64 | (4.71) | 402434 | 0.61 |  | 0.61 |  | 0.60 |  | 0.60 |  | 2.05 | 184 |
| 7.78 | 4.48 | 8397 | 1.43 |  | 1.48 |  | 0.65 |  | 0.70 |  | 3.72 | 187 |
| 7.73 | 5.60 | 9203 | 1.60 |  | 1.65 |  | 0.65 |  | 0.70 |  | 3.54 | 391 |
| 7.60 | 2.71 | 6651 | 0.97 |  | 1.02 |  | 0.65 |  | 0.70 |  | 3.22 | 468 |
| 7.67 | (3.14) | 4691 | 0.71 | <sup>(e)</sup>\* | 0.76 | <sup>(e)</sup>\* | 0.65 | <sup>(e)</sup>\* | 0.70 | <sup>(e)</sup>\* | 3.03 \* | 391 |
| 7.78 | 4.38 | 18084 | 1.53 |  | 1.53 |  | 0.75 |  | 0.75 |  | 3.61 | 187 |
| 7.73 | 5.49 | 16964 | 1.70 |  | 1.70 |  | 0.75 |  | 0.75 |  | 3.43 | 391 |
| 7.60 | 2.61 | 16259 | 1.07 |  | 1.07 |  | 0.75 |  | 0.75 |  | 3.12 | 468 |
| 7.67 | (7.40) | 18147 | 0.86 |  | 0.86 |  | 0.75 |  | 0.75 |  | 2.54 | 391 |
| 8.64 | (4.85) | 21552 | 0.76 |  | 0.76 |  | 0.75 |  | 0.75 |  | 1.89 | 184 |
| 7.78 | 4.22 | 13761 | 1.68 |  | 1.68 |  | 0.90 |  | 0.90 |  | 3.46 | 187 |
| 7.73 | 5.33 | 10488 | 1.85 |  | 1.85 |  | 0.90 |  | 0.90 |  | 3.27 | 391 |
| 7.60 | 2.45 | 13527 | 1.22 |  | 1.22 |  | 0.90 |  | 0.90 |  | 2.96 | 468 |
| 7.67 | (7.54) | 17280 | 1.01 |  | 1.01 |  | 0.90 |  | 0.90 |  | 2.40 | 391 |
| 8.64 | (4.99) | 15988 | 0.91 |  | 0.91 |  | 0.90 |  | 0.90 |  | 1.74 | 184 |

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **15** |

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Financial Highlights (Cont.)

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** | **Less Distributions<sup>(c)</sup>** |
| Selected Per Share Data for the Year or Period Ended^: | **<br>Net Asset Value<br>Beginning of<br>Year or<br>Period<sup>(a)</sup>** | **Net Investment<br>Income (Loss)<sup>(b)</sup>** | **Net Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From Net<br>Investment<br>Income** | **From Net<br>Realized<br>Capital Gains** | **Tax Basis<br>Return of<br>Capital** | **Total** |
|  **PIMCO Total Return ESG Fund (Cont.)** |  |  |  |  |  |  |  |  |
| Class C |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $7.73 | $0.21 | $0.05 | $0.26 | $(0.21) | $0.00 | $0.00 | $(0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 7.60 | 0.19 | 0.15 | 0.34 | (0.21) | 0.00 | 0.00 | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 7.67 | 0.17 | (0.05) | 0.12 | (0.07) | 0.00 | (0.12) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.64 | 0.13 | (0.84) | (0.71) | (0.26) | 0.00 | 0.00 | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.33 | 0.09 | (0.61) | (0.52) | (0.10) | (0.07) | 0.00 | (0.17) |
|  **PIMCO Total Return Fund II** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $8.35 | $0.32 | $0.06 | $0.38 | $(0.33) | $0.00 | $0.00 | $(0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.18 | 0.31 | 0.18 | 0.49 | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.26 | 0.30 | (0.08) | 0.22 | (0.30) | 0.00 | 0.00 | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.98 | 0.22 | (0.71) | (0.49) | (0.23) | 0.00 | 0.00 | (0.23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.52 | 0.12 | (0.52) | (0.40) | (0.14) | 0.00 | 0.00 | (0.14) |
| I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 8.35 | 0.31 | 0.06 | 0.37 | (0.32) | 0.00 | 0.00 | (0.32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 8.18 | 0.31 | 0.17 | 0.48 | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 8.26 | 0.30 | (0.09) | 0.21 | (0.29) | 0.00 | 0.00 | (0.29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 8.98 | 0.21 | (0.71) | (0.50) | (0.22) | 0.00 | 0.00 | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 9.52 | 0.11 | (0.52) | (0.41) | (0.13) | 0.00 | 0.00 | (0.13) |
|  **PIMCO Total Return Fund IV** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.51 | $0.40 | $0.03 | $0.43 | $(0.40) | $0.00 | $0.00 | $(0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.39 | 0.39 | 0.13 | 0.52 | (0.40) | 0.00 | 0.00 | (0.40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.46 | 0.35 | (0.09) | 0.26 | (0.26) | 0.00 | (0.07) | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.31 | 0.25 | (0.76) | (0.51) | (0.34) | 0.00 | 0.00 | (0.34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.96 | 0.20 | (0.65) | (0.45) | (0.20) | 0.00 | 0.00 | (0.20) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | 9.51 | 0.37 | 0.02 | 0.39 | (0.36) | 0.00 | 0.00 | (0.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.39 | 0.36 | 0.13 | 0.49 | (0.37) | 0.00 | 0.00 | (0.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 9.46 | 0.32 | (0.09) | 0.23 | (0.23) | 0.00 | (0.07) | (0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2023 | 10.31 | 0.21 | (0.75) | (0.54) | (0.31) | 0.00 | 0.00 | (0.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2022 | 10.96 | 0.16 | (0.65) | (0.49) | (0.16) | 0.00 | 0.00 | (0.16) |
|  **PIMCO Total Return Fund V** |  |  |  |  |  |  |  |  |
| Institutional Class |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | $9.75 | $0.42 | $0.03 | $0.45 | $(0.46) | $(0.04) | $0.00 | $(0.50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2025 | 9.74 | 0.45 | 0.04 | 0.49 | (0.48) | 0.00 | 0.00 | (0.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 03/31/2024 | 10.00 | 0.41 | (0.24) | 0.17 | (0.43) | 0.00 | 0.00 | (0.43) |
| Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2025 - 03/31/2026 | 9.89 | 0.16 | (0.14) | 0.02 | (0.17) | (0.04) | 0.00 | (0.21) |

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| | |
|:---|:---|
| ^ | A zero balance may reflect actual amounts rounding to less than $0.01 or 0.01%.  |

---

~ A one for four reverse share split, effective March 24, 2023, has been retroactively applied.

\* Annualized, except for organizational expense, if any.

<sup>(a)</sup> Net asset value includes adjustments required by U.S. GAAP. These values, and other performance figures relying on them, such as average annual total return data included in the Funds' prospectus and in any shareholder reports, may differ from net asset values and performance reported elsewhere with respect to the Funds. 

<sup>(b)</sup> Per share amounts based on average number of shares outstanding during the year or period. 

<sup>(c)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations. See Note 2, Distributions to Shareholders, in the Notes to Financial Statements for more information.

<sup>(d)</sup> Total return figures include adjustments required by U.S. GAAP. These values, and other performance figures relying on them, such as average annual total return data included in the Funds' prospectus and in any shareholder reports, may differ from net asset values and performance reported elsewhere with respect to the Funds. Additionally, excludes applicable initial sales charges and contingent deferred sales charges. 

<sup>(e)</sup> Expense ratio as presented is calculated based on average net assets for the period presented. Due to significant fluctuations in total net assets during the period, the expense ratio to average net assets differs from the total operating expense ratio in effect for each class. See Note 9, Fees and Expenses, in the Notes to Financial Statements for additional information on how the Fund's expenses are calculated. 

<sup>(f)</sup> Ratios shown do not include expenses of the investment companies in which the Fund may invest. See Note 9, Fees and Expenses, in the Notes to Financial Statements for more information regarding the expenses and any applicable fee waivers associated with these investments. 

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| | | |
|:---|:---|:---|
| **16** | **PIMCO BOND FUNDS** | See Accompanying Notes |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| | | | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | **Ratios to Average Net Assets<sup>(f)</sup>** | |
| **Net Asset<br>Value End of<br>Year or<br>Period<sup>(a)</sup>** | **Total<br>Return<sup>(d)</sup>** | **Net Assets<br>End of Year or<br>Period (000s)** | **Expenses** | **Expenses<br>Excluding<br>Waivers** | **Expenses<br>Excluding<br>Interest<br>Expense** | **Expenses<br>Excluding<br>Interest<br>Expense and<br>Waivers** | **Net<br>Investment<br>Income (Loss)** | **Portfolio<br>Turnover<br>Rate** |
| $7.78 | 3.46% | $679 | 2.43% | 2.43% | 1.65% | 1.65% | 2.71% | 187% |
| 7.73 | 4.55 | 716 | 2.60 | 2.60 | 1.65 | 1.65 | 2.54 | 391 |
| 7.60 | 1.70 | 728 | 1.97 | 1.97 | 1.65 | 1.65 | 2.21 | 468 |
| 7.67 | (8.24) | 1006 | 1.76 | 1.76 | 1.65 | 1.65 | 1.67 | 391 |
| 8.64 | (5.71) | 847 | 1.66 | 1.66 | 1.65 | 1.65 | 1.00 | 184 |
| $8.40 | 4.61% | $573448 | 1.21% | 1.23% | 0.48% | 0.50% | 3.79% | 280% |
| 8.35 | 6.08 | 572396 | 1.62 | 1.62 | 0.50 | 0.50 | 3.73 | 437 |
| 8.18 | 2.73 | 601591 | 0.57 | 0.57 | 0.50 | 0.50 | 3.70 | 387 |
| 8.26 | (5.40) | 559913 | 0.52 | 0.52 | 0.50 | 0.50 | 2.66 | 371 |
| 8.98 | (4.28) | 611583 | 0.50 | 0.50 | 0.50 | 0.50 | 1.26 | 293 |
| 8.40 | 4.51 | 28759 | 1.31 | 1.33 | 0.58 | 0.60 | 3.66 | 280 |
| 8.35 | 5.97 | 8741 | 1.58 <sup>(e)</sup> | 1.58 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 0.60 <sup>(e)</sup> | 3.76 | 437 |
| 8.18 | 2.63 | 36778 | 0.67 | 0.67 | 0.60 | 0.60 | 3.68 | 387 |
| 8.26 | (5.49) | 5353 | 0.62 | 0.62 | 0.60 | 0.60 | 2.56 | 371 |
| 8.98 | (4.38) | 7769 | 0.60 | 0.60 | 0.60 | 0.60 | 1.15 | 293 |
| $9.54 | 4.56% | $332728 | 0.52% | 0.52% | 0.50% | 0.50% | 4.19% | 414% |
| 9.51 | 5.65 | 303772 | 0.57 | 0.57 | 0.50 | 0.50 | 4.14 | 488 |
| 9.39 | 2.86 | 260708 | 0.67 | 0.67 | 0.50 | 0.50 | 3.83 | 340 |
| 9.46 | (4.89) | 233338 | 0.52 | 0.52 | 0.50 | 0.50 | 2.59 | 383 |
| 10.31 | (4.20) | 316993 | 0.50 | 0.50 | 0.50 | 0.50 | 1.80 | 278 |
| 9.54 | 4.19 | 17829 | 0.87 | 0.87 | 0.85 | 0.85 | 3.84 | 414 |
| 9.51 | 5.28 | 14311 | 0.92 | 0.92 | 0.85 | 0.85 | 3.79 | 488 |
| 9.39 | 2.50 | 11053 | 1.02 | 1.02 | 0.85 | 0.85 | 3.47 | 340 |
| 9.46 | (5.22) | 11290 | 0.87 | 0.87 | 0.85 | 0.85 | 2.22 | 383 |
| 10.31 | (4.53) | 14481 | 0.85 | 0.85 | 0.85 | 0.85 | 1.45 | 278 |
| $9.70 | 4.62% | $367291 | 0.56% | 0.56% | 0.50% | 0.50% | 4.32% | 271% |
| 9.75 | 5.14 | 255981 | 0.54 | 0.54 | 0.50 | 0.50 | 4.60 | 347 |
| 9.74 | 1.77 | 153897 | 0.53 \* | 0.66 \* | 0.50 \* | 0.63 \* | 4.64 \* | 321 |
| 9.70 | 0.09 | 1201 | 0.96 \* | 0.96 \* | 0.90 \* | 0.90 \* | 3.89 \* | 271 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **17** |

---

------

Statements of Assets and Liabilities

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| (Amounts in thousands<sup>†</sup>, except per share amounts) | **PIMCO<br>Climate Bond<br>Fund** | **PIMCO<br>Dynamic Bond<br>Fund** | **PIMCO<br>Extended<br>Duration Fund** | **PIMCO**<br> **GNMA and<br>Government<br>Securities<br>Fund** | **PIMCO<br>Investment<br>Grade Credit<br>Bond Fund** | **PIMCO**<br> **Long Duration<br>Total Return<br>Fund** |
|  **Assets:** |  |  |  |  |  |  |
|  *Investments, at value* |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities\* | $42312 | $4030202 | $1147391 | $3491779 | $15224135 | $3881223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Affiliates | 0 | 547038 | 6348 | 351 | 4023 | 667 |
|  *Financial Derivative Instruments* |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-traded or centrally cleared | 49 | 9825 | 582 | 721 | 28749 | 4152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Over the counter | 601 | 37545 | 1833 | 26318 | 84819 | 12398 |
|  Cash | 231 | 2003 | 659 | 22 | 0 | 0 |
|  Deposits with counterparty | 502 | 10328 | 8573 | 32806 | 18181 | 5576 |
|  Foreign currency, at value | 73 | 9794 | 1416 | 0 | 11369 | 4888 |
|  Receivable for investments sold | 1203 | 16190 | 16251 | 4584 | 19156 | 504837 |
|  Receivable for investments sold on a delayed-delivery basis | 0 | 745 | 0 | 0 | 725 | 0 |
|  Receivable for TBA investments sold | 0 | 3256010 | 130680 | 6299876 | 2900678 | 843855 |
|  Receivable for Fund shares sold | 125 | 2299 | 3 | 682 | 35751 | 5043 |
|  Interest and/or dividends receivable | 446 | 19420 | 3366 | 7208 | 135783 | 28478 |
|  Dividends receivable from Affiliates | 0 | 1693 | 10 | 72 | 323 | 6 |
|  Reimbursement receivable from PIMCO | 0 | 111 | 0 | 3 | 6 | 0 |
|  Other assets | 0 | 24 | 0 | 0 | 0 | 0 |
|  **Total Assets** | 45542 | 7943227 | 1317112 | 9864422 | 18463698 | 5291123 |
|  **Liabilities:** |  |  |  |  |  |  |
|  *Borrowings & Other Financing Transactions* |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for reverse repurchase agreements | $0 | $28595 | $529723 | $762483 | $148069 | $1518450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for sale-buyback transactions | 0 | 0 | 59793 | 0 | 0 | 75200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for short sales | 0 | 365760 | 0 | 1183813 | 0 | 10135 |
|  *Financial Derivative Instruments* |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-traded or centrally cleared | 29 | 3926 | 1179 | 662 | 7977 | 3480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Over the counter | 60 | 22578 | 1056 | 2240 | 22511 | 5239 |
|  Payable for investments purchased | 1194 | 56304 | 2320 | 162 | 223333 | 50071 |
|  Payable for investments in Affiliates purchased | 0 | 15451 | 10 | 74 | 323 | 6 |
|  Payable for investments purchased on a delayed-delivery basis | 0 | 53752 | 0 | 27273 | 65435 | 0 |
|  Payable for TBA investments purchased | 0 | 4764301 | 229321 | 6537503 | 4715808 | 1392088 |
|  Payable for unfunded loan commitments | 0 | 149 | 0 | 0 | 27823 | 412 |
|  Deposits from counterparty | 271 | 13329 | 280 | 10374 | 68862 | 6607 |
|  Payable for Fund shares redeemed | 78 | 4139 | 1 | 4494 | 25552 | 2858 |
|  Distributions payable | 2 | 922 | 0 | 367 | 22871 | 323 |
|  Overdraft due to custodian | 0 | 0 | 0 | 0 | 10009 | 13 |
|  Accrued investment advisory fees | 9 | 1198 | 104 | 276 | 2696 | 463 |
|  Accrued supervisory and administrative fees | 11 | 587 | 105 | 351 | 3354 | 477 |
|  Accrued distribution fees | 0 | 5 | 0 | 4 | 30 | 5 |
|  Accrued servicing fees | 2 | 29 | 0 | 34 | 142 | 11 |
|  Accrued reimbursement to PIMCO | 0 | 0 | 0 | 0 | 0 | 0 |
|  Foreign capital gains tax payable | 1 | 299 | 0 | 0 | 25 | 3 |
|  Other liabilities | 0 | 1 | 0 | 1 | 1 | 0 |
|  **Total Liabilities** | 1657 | 5331325 | 823892 | 8530111 | 5344821 | 3065841 |
|  **Commitments and Contingent Liabilities^** |  |  |  |  |  |  |
|  **Net Assets** | $43885 | $2611902 | $493220 | $1334311 | $13118877 | $2225282 |
|  **Net Assets Consist of:** |  |  |  |  |  |  |
|  Paid in capital | $46048 | $3249912 | $950848 | $1562396 | $15527600 | $3437070 |
|  Distributable earnings (accumulated loss) | (2163) | (638010) | (457628) | (228085) | (2408723) | (1211788) |
|  **Net Assets** | $43885 | $2611902 | $493220 | $1334311 | $13118877 | $2225282 |
|  Cost of investments in securities | $42255 | $4187121 | $1522981 | $3562103 | $15782301 | $4252734 |
|  Cost of investments in Affiliates | $0 | $546349 | $6348 | $351 | $4023 | $667 |
|  Cost of foreign currency held | $73 | $9749 | $1417 | $0 | $11255 | $4792 |
|  Proceeds received on short sales | $0 | $364797 | $0 | $1184256 | $0 | $10247 |
|  Cost or premiums of financial derivative instruments, net | $54 | $72359 | $(319) | $10284 | $153810 | $13274 |
|  \* Includes repurchase agreements of: | $0 | $245058 | $553 | $4 | $35026 | $6300 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

<sup>^</sup> See Note 9, Fees and Expenses, in the Notes to Financial statements for more information.

---

| | | |
|:---|:---|:---|
| **18** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO**<br> **Long-Term<br>U.S. Government<br>Fund** | **PIMCO**<br> **Low Duration<br>Opportunities<br>Fund** | **PIMCO<br>Moderate<br>Duration Fund** | **PIMCO<br>Mortgage<br>Opportunities<br>and Bond<br>Fund** | **PIMCO**<br> **Total Return<br>ESG Fund** | **PIMCO**<br> **Total Return<br>Fund II** | **PIMCO**<br> **Total Return<br>Fund IV** | **PIMCO**<br> **Total Return<br>Fund V** |
| $1478126 | $138577 | $2057529 | $27727393 | $2109215 | $818261 | $433389 | $430443 |
| 85 | 26967 | 102984 | 351049 | 0 | 35223 | 15120 | 0 |
| 274 | 230 | 2611 | 9102 | 2139 | 360 | 442 | 410 |
| 0 | 1051 | 8606 | 279646 | 13650 | 0 | 1049 | 4417 |
| 0 | 0 | 1346 | 252 | 1016 | 0 | 14 | 0 |
| 4290 | 1905 | 28517 | 145677 | 19826 | 5927 | 3407 | 4600 |
| 0 | 546 | 4432 | 785 | 2781 | 0 | 1408 | 499 |
| 405472 | 3 | 69169 | 5341 | 807 | 9981 | 3 | 23 |
| 0 | 1 | 0 | 0 | 8 | 0 | 0 | 0 |
| 182785 | 111104 | 561045 | 26001520 | 243568 | 250767 | 190767 | 101344 |
| 60 | 59 | 96 | 15601 | 863 | 160 | 250 | 92 |
| 11004 | 616 | 12974 | 79170 | 12811 | 4923 | 2726 | 2394 |
| 10 | 64 | 0 | 1047 | 0 | 4 | 48 | 0 |
| 0 | 0 | 32 | 4 | 0 | 11 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2082106 | 281123 | 2849341 | 54616587 | 2406684 | 1125617 | 648623 | 544222 |
| $1014370 | $0 | $209895 | $5047006 | $253909 | $113852 | $0 | $0 |
| 15706 | 0 | 6826 | 3856 | 6487 | 1017 | 0 | 0 |
| 84 | 3543 | 40501 | 3949342 | 3704 | 0 | 2477 | 0 |
| 788 | 138 | 1809 | 8869 | 1017 | 502 | 182 | 79 |
| 63 | 1128 | 8551 | 22674 | 3533 | 8 | 409 | 761 |
| 2169 | 1259 | 21924 | 48142 | 23251 | 2974 | 747 | 4036 |
| 10 | 5866 | 0 | 1096 | 0 | 4 | 49 | 0 |
| 0 | 1508 | 0 | 388897 | 0 | 0 | 4 | 0 |
| 315297 | 156510 | 789935 | 31385284 | 429189 | 399507 | 291643 | 166598 |
| 0 | 0 | 312 | 1024 | 302 | 0 | 0 | 0 |
| 0 | 30 | 5070 | 20911 | 10376 | 0 | 540 | 3471 |
| 6943 | 165 | 1661 | 122872 | 2826 | 5189 | 1850 | 507 |
| 85 | 6 | 1095 | 3947 | 229 | 104 | 10 | 4 |
| 827 | 0 | 0 | 0 | 0 | 0 | 0 | 120 |
| 138 | 23 | 367 | 3948 | 346 | 125 | 72 | 76 |
| 165 | 34 | 309 | 3174 | 372 | 128 | 74 | 76 |
| 19 | 1 | 0 | 32 | 4 | 0 | 0 | 0 |
| 14 | 3 | 0 | 63 | 3 | 0 | 4 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| 0 | 3 | 2 | 0 | 0 | 0 | 5 | 1 |
| 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| 1356678 | 170217 | 1088258 | 41011138 | 735548 | 523410 | 298066 | 175730 |
| $725428 | $110906 | $1761083 | $13605449 | $1671136 | $602207 | $350557 | $368492 |
| $1276442 | $116397 | $1893799 | $14781076 | $2088735 | $687501 | $396275 | $370668 |
| (551014) | (5491) | (132716) | (1175627) | (417599) | (85294) | (45718) | (2176) |
| $725428 | $110906 | $1761083 | $13605449 | $1671136 | $602207 | $350557 | $368492 |
| $1641933 | $139179 | $2073656 | $28279558 | $2234388 | $856592 | $443313 | $431631 |
| $85 | $26948 | $102606 | $351007 | $0 | $35100 | $15115 | $0 |
| $0 | $546 | $4447 | $789 | $2791 | $0 | $1418 | $502 |
| $84 | $3525 | $40349 | $3956276 | $3715 | $0 | $2475 | $0 |
| $62 | $(24) | $8819 | $495689 | $21083 | $3025 | $(95) | $4134 |
| $0 | $22800 | $0 | $0 | $9400 | $0 | $0 | $29200 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **19** |

---

------

Statements of Assets and Liabilities (Cont.)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **PIMCO<br>Climate Bond<br>Fund** | **PIMCO<br>Dynamic Bond<br>Fund** | **PIMCO<br>Extended<br>Duration Fund** | **PIMCO**<br> **GNMA and<br>Government<br>Securities<br>Fund** | **PIMCO<br>Investment<br>Grade Credit<br>Bond Fund** | **PIMCO**<br> **Long Duration<br>Total Return<br>Fund** |
|  **Net Assets:** |  |  |  |  |  |  |
|  Institutional Class | $33117 | $2209933 | $478813 | $587950 | $5630738 | $2093935 |
|  I-2 | 605 | 219177 | 14407 | 511711 | 6638067 | 79952 |
|  I-3 | 1016 | 41552 | N/A | 69684 | 149351 | N/A |
|  Administrative Class | N/A | N/A | N/A | N/A | 14600 | N/A |
|  Class A | 9078 | 130209 | N/A | 158075 | 643547 | 43612 |
|  Class C | 69 | 5552 | N/A | 6891 | 42574 | 7783 |
|  Class R | N/A | 5479 | N/A | N/A | N/A | N/A |
|  **Shares Issued and Outstanding:** |  |  |  |  |  |  |
|  Institutional Class | 3727 | 218090 | 38147 | 61845 | 624465 | 294555 |
|  I-2 | 68 | 21629 | 1148 | 53825 | 736186 | 11248 |
|  I-3 | 114 | 4100 | N/A | 7330 | 16563 | N/A |
|  Administrative Class | N/A | N/A | N/A | N/A | 1619 | N/A |
|  Class A | 1021 | 12850 | N/A | 16627 | 71372 | 6135 |
|  Class C | 8 | 548 | N/A | 725 | 4722 | 1095 |
|  Class R | N/A | 541 | N/A | N/A | N/A | N/A |
|  **Net Asset Value Per Share Outstanding(a):** |  |  |  |  |  |  |
|  Institutional Class | $8.89 | $10.13 | $12.55 | $9.51 | $9.02 | $7.11 |
|  I-2 | 8.89 | 10.13 | 12.55 | 9.51 | 9.02 | 7.11 |
|  I-3 | 8.89 | 10.13 | N/A | 9.51 | 9.02 | N/A |
|  Administrative Class | N/A | N/A | N/A | N/A | 9.02 | N/A |
|  Class A | 8.89 | 10.13 | N/A | 9.51 | 9.02 | 7.11 |
|  Class C | 8.89 | 10.13 | N/A | 9.51 | 9.02 | 7.11 |
|  Class R | N/A | 10.13 | N/A | N/A | N/A | N/A |

---

<sup>(a)</sup> Includes adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere by the Funds.

---

| | | |
|:---|:---|:---|
| **20** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO**<br> **Long-Term<br>U.S. Government<br>Fund** | **PIMCO**<br> **Low Duration<br>Opportunities<br>Fund** | **PIMCO<br>Moderate<br>Duration Fund** | **PIMCO<br>Mortgage<br>Opportunities<br>and Bond<br>Fund** | **PIMCO**<br> **Total Return<br>ESG Fund** | **PIMCO**<br> **Total Return<br>Fund II** | **PIMCO**<br> **Total Return<br>Fund IV** | **PIMCO**<br> **Total Return<br>Fund V** |
| $577755 | $30580 | $1742421 | $9624987 | $1360158 | $573448 | $332728 | $367291 |
| 78477 | 67260 | 18662 | 3574752 | 270057 | 28759 | N/A | N/A |
| N/A | N/A | N/A | 100516 | 8397 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | 18084 | N/A | N/A | N/A |
| 38160 | 11924 | N/A | 254119 | 13761 | N/A | 17829 | 1201 |
| 31036 | 1142 | N/A | 51075 | 679 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 41757 | 2831 | 185882 | 1030037 | 174868 | 68302 | 34869 | 37866 |
| 5672 | 6226 | 1991 | 382556 | 34719 | 3425 | N/A | N/A |
| N/A | N/A | N/A | 10757 | 1080 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | 2325 | N/A | N/A | N/A |
| 2758 | 1104 | N/A | 27195 | 1769 | N/A | 1868 | 124 |
| 2243 | 106 | N/A | 5466 | 87 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| $13.84 | $10.80 | $9.37 | $9.34 | $7.78 | $8.40 | $9.54 | $9.70 |
| 13.84 | 10.80 | 9.37 | 9.34 | 7.78 | 8.40 | N/A | N/A |
| N/A | N/A | N/A | 9.34 | 7.78 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | 7.78 | N/A | N/A | N/A |
| 13.84 | 10.80 | N/A | 9.34 | 7.78 | N/A | 9.54 | 9.70 |
| 13.84 | 10.80 | N/A | 9.34 | 7.78 | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **21** |

---

------

Statements of Operations

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Year Ended March 31, 2026 |  |  |  |  |  |  |
| (Amounts in thousands<sup>†</sup>) | **PIMCO<br>Climate**<br> **Bond Fund** | **PIMCO<br>Dynamic**<br> **Bond Fund** | **PIMCO<br>Extended<br>Duration<br>Fund** | **PIMCO**<br> **GNMA and<br>Government<br>Securities<br>Fund** | **PIMCO<br>Investment<br>Grade Credit<br>Bond Fund** | **PIMCO**<br> **Long**<br> **Duration**<br> **Total Return<br>Fund** |
|  **Investment Income:** |  |  |  |  |  |  |
|  Interest, net of foreign taxes\* | $1512 | $132085 | $38868 | $86182 | $626066 | $146306 |
|  Dividends | 0 | 428 | 25 | 46 | 5927 | 49 |
|  Dividends from Investments in Affiliates | 0 | 22405 | 216 | 963 | 13711 | 372 |
|  Miscellaneous income | 0 | 325 | 0 | 0 | 700 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Income | 1512 | 155243 | 39109 | 87191 | 646404 | 146730 |
|  **Expenses:** |  |  |  |  |  |  |
|  Investment advisory fees | 97 | 14803 | 1110 | 3314 | 31925 | 5677 |
|  Supervisory and administrative fees | 112 | 7226 | 1125 | 4217 | 39715 | 5857 |
|  Distribution and/or servicing fees - Administrative Class | 0 | 0 | 0 | 0 | 41 | 0 |
|  Distribution and/or servicing fees - Class A | 21 | 342 | 0 | 406 | 1678 | 108 |
|  Distribution and/or servicing fees - Class C | 1 | 61 | 0 | 74 | 524 | 88 |
|  Distribution and/or servicing fees - Class R | 0 | 27 | 0 | 0 | 0 | 0 |
|  Trustee fees | 0 | 17 | 3 | 9 | 81 | 15 |
|  Interest expense | 9 | 1397 | 21625 | 25654 | 9522 | 37703 |
|  Miscellaneous expense | 0 | 23 | 0 | 0 | 4 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Expenses | 240 | 23896 | 23863 | 33674 | 83490 | 49449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waiver and/or Reimbursement by PIMCO | (1) | (1365) | 0 | (41) | (66) | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Expenses | 239 | 22531 | 23863 | 33633 | 83424 | 49449 |
|  **Net Investment Income (Loss)** | 1273 | 132712 | 15246 | 53558 | 562980 | 97281 |
|  **Net Realized Gain (Loss):** |  |  |  |  |  |  |
|  Investments in securities | (2) | 29136 | (32952) | 9362 | (71119) | (29181) |
|  Investments in Affiliates | 0 | (40) | 0 | 22 | 311 | (8) |
|  Exchange-traded or centrally cleared financial derivative instruments | 345 | 20171 | (6445) | 10022 | 118119 | (3279) |
|  Over the counter financial derivative instruments | (1468) | (43418) | 150 | (680) | (67315) | (13080) |
|  Short sales | 0 | (708) | 0 | 0 | 0 | 0 |
|  Foreign currency | (56) | 2920 | 67 | 0 | (1951) | 537 |
|  **Net Realized Gain (Loss)** | (1181) | 8061 | (39180) | 18726 | (21955) | (45011) |
|  **Net Change in Unrealized Appreciation (Depreciation):** |  |  |  |  |  |  |
|  Investments in securities | 755 | 29899 | 338 | 10937 | 97231 | 11794 |
|  Investments in Affiliates | 0 | 449 | 1 | 3 | 0 | 0 |
|  Exchange-traded or centrally cleared financial derivative instruments | (374) | (20379) | 11991 | (5250) | (120324) | (4994) |
|  Over the counter financial derivative instruments | 855 | (2210) | 738 | (1715) | 38341 | 7841 |
|  Short sales | 0 | 2000 | 0 | 0 | 0 | 0 |
|  Foreign currency assets and liabilities | 0 | (2332) | (41) | 0 | (7117) | (1357) |
|  **Net Change in Unrealized Appreciation (Depreciation)** | 1236 | 7427 | 13027 | 3975 | 8131 | 13284 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1328 | $148200 | $(10907) | $76259 | $549156 | $65554 |
|  \* Foreign tax withholdings | $0 | $362 | $0 | $0 | $0 | $1 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

---

| | | |
|:---|:---|:---|
| **22** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO**<br> **Long-Term<br>U.S. Government<br>Fund** | **PIMCO**<br> **Low Duration<br>Opportunities<br>Fund** | **PIMCO<br>Moderate Duration**<br> **Fund** | **PIMCO<br>Mortgage<br>Opportunities<br>and Bond<br>Fund** | **PIMCO**<br> **Total Return ESG**<br> **Fund** | **PIMCO**<br> **Total Return<br>Fund II** | **PIMCO**<br> **Total Return<br>Fund IV** | **PIMCO**<br> **Total Return<br>Fund V** |
| $57900 | $4202 | $84683 | $904740 | $84328 | $28603 | $14610 | $15368 |
| 29 | 18 | 80 | 415 | 0 | 25 | 492 | 0 |
| 219 | 767 | 3192 | 11594 | 0 | 1101 | 558 | 0 |
| 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
| 58148 | 4988 | 87955 | 916749 | 84329 | 29729 | 15660 | 15368 |
| 1767 | 243 | 4296 | 43990 | 4101 | 1486 | 830 | 786 |
| 2121 | 368 | 3625 | 35291 | 4402 | 1504 | 846 | 786 |
| 0 | 0 | 0 | 0 | 44 | 0 | 0 | 0 |
| 98 | 28 | 0 | 719 | 32 | 0 | 41 | 0 |
| 297 | 10 | 0 | 507 | 7 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 5 | 1 | 11 | 77 | 11 | 4 | 2 | 2 |
| 25499 | 8 | 4533 | 193325 | 12756 | 4312 | 72 | 179 |
| 0 | 5 | 10 | 5 | 1 | 0 | 0 | 15 |
| 29787 | 663 | 12475 | 273914 | 21354 | 7306 | 1791 | 1768 |
| 0 | (1) | (266) | (45) | (4) | (91) | 0 | (2) |
| 29787 | 662 | 12209 | 273869 | 21350 | 7215 | 1791 | 1766 |
| 28361 | 4326 | 75746 | 642880 | 62979 | 22514 | 13869 | 13602 |
| (3292) | 1115 | 5373 | 7578 | (14939) | 107 | (2143) | 1739 |
| 11 | 2 | 3 | 97 | 0 | 2 | 2 | 0 |
| (7081) | (302) | 6592 | 208449 | 12901 | 1252 | 2320 | 2396 |
| 1058 | (1097) | (9763) | (59699) | (9408) | 400 | (1514) | (138) |
| 0 | 19 | 0 | 0 | 0 | 0 | 0 | (3) |
| 0 | 48 | 410 | 233 | 345 | 0 | 120 | 61 |
| (9304) | (215) | 2615 | 156658 | (11101) | 1761 | (1215) | 4055 |
| (26036) | 578 | 541 | 58008 | 19299 | (206) | 2275 | (2471) |
| 2 | 10 | 273 | 50 | 0 | 88 | 6 | 0 |
| 15740 | 375 | 2730 | (157251) | (3930) | 2192 | (1454) | (1775) |
| 4 | (21) | (24) | 6054 | 6425 | (4) | 881 | 480 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | (74) | (1009) | (27) | (929) | 0 | (7) | (203) |
| (10290) | 868 | 2511 | (93166) | 20865 | 2070 | 1701 | (3969) |
| $8767 | $4979 | $80872 | $706372 | $72743 | $26345 | $14355 | $13688 |
| $0 | $5 | $0 | $0 | $0 | $0 | $6 | $1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **23** |

---

------

Statements of Changes in Net Assets

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PIMCO**<br> **Climate Bond Fund** | **PIMCO**<br> **Climate Bond Fund** | **PIMCO**<br> **Dynamic Bond Fund** | **PIMCO**<br> **Dynamic Bond Fund** | **PIMCO**<br> **Extended Duration Fund** | **PIMCO**<br> **Extended Duration Fund** | **PIMCO**<br> **GNMA and Government**<br> **Securities Fund** | **PIMCO**<br> **GNMA and Government**<br> **Securities Fund** |
| (Amounts in thousands<sup>†</sup>) | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** |
|  **Increase (Decrease) in Net<br>Assets from:** |  |  |  |  |  |  |  |  |
|  **Operations:** |  |  |  |  |  |  |  |  |
|  Net investment income (loss) | $1273 | $816 | $132712 | $126683 | $15246 | $10550 | $53558 | $56132 |
|  Net realized gain (loss) | (1181) | 136 | 8061 | 11921 | (39180) | (13280) | 18726 | (5064) |
|  Net change in unrealized appreciation (depreciation) | 1236 | 245 | 7427 | 56246 | 13027 | (10959) | 3975 | 17747 |
|  **Net Increase (Decrease) in<br>Net Assets Resulting<br>from Operations** | 1328 | 1197 | 148200 | 194850 | (10907) | (13689) | 76259 | 68815 |
|  **Distributions to Shareholders:** |  |  |  |  |  |  |  |  |
|  From net investment income and/or net realized capital gains |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | (1287) | (768) | (122047) | (108208) | (15042) | (10275) | (26521) | (30295) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | (20) | (4) | (10403) | (8865) | (506) | (470) | (21418) | (22873) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | (44) | (32) | (1951) | (731) | N/A | N/A | (3534) | (3881) |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (342) | (56) | (6696) | (6499) | N/A | N/A | (6654) | (8246) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (2) | (2) | (251) | (304) | N/A | N/A | (247) | (371) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | (253) | (214) | N/A | N/A | N/A | N/A |
|  Tax basis return of capital |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | 0 | 0 | N/A | N/A | N/A | N/A |
|  **Total Distributions<sup>(a)</sup>** | (1695) | (862) | (141601) | (124821) | (15548) | (10745) | (58374) | (65666) |
|  **Fund Share Transactions:** |  |  |  |  |  |  |  |  |
|  Net increase (decrease) resulting from Fund share transactions\* | 15126 | 10603 | (264941) | 318974 | 73799 | (108234) | 21452 | (142061) |
|  **Total Increase (Decrease) in Net Assets** | 14759 | 10938 | (258342) | 389003 | 47344 | (132668) | 39337 | (138912) |
|  **Net Assets:** |  |  |  |  |  |  |  |  |
|  Beginning of period | 29126 | 18188 | 2870244 | 2481241 | 445876 | 578544 | 1294974 | 1433886 |
|  End of year | $43885 | $29126 | $2611902 | $2870244 | $493220 | $445876 | $1334311 | $1294974 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

\* See Note 13, Shares of Beneficial Interest, in the Notes to Financial Statements.

<sup>(a)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations. See Note 2, Distributions to Shareholders, in the Notes to Financial Statements for more information.

<sup>(b)</sup> Inception date of the class was October 31, 2025.

---

| | | |
|:---|:---|:---|
| **24** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO**<br> **Investment Grade Credit**<br> **Bond Fund** | **PIMCO**<br> **Investment Grade Credit**<br> **Bond Fund** | **PIMCO**<br> **Long Duration Total**<br> **Return Fund** | **PIMCO**<br> **Long Duration Total**<br> **Return Fund** | **PIMCO**<br> **Long-Term U.S. Government**<br> **Fund** | **PIMCO**<br> **Long-Term U.S. Government**<br> **Fund** | **PIMCO**<br> **Low Duration Opportunities**<br> **Fund** | **PIMCO**<br> **Low Duration Opportunities**<br> **Fund** | **PIMCO**<br> **Moderate Duration**<br> **Fund** | **PIMCO**<br> **Moderate Duration**<br> **Fund** |
| **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** |
| <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** |  |  |  |  |  |  |  |  |  |
| $562980 | $513843 | $97281 | $90303 | $28361 | $29590 | $4326 | $4314 | $75746 | $67080 |
| (21955) | (261299) | (45011) | (136749) | (9304) | (6950) | (215) | 295 | 2615 | 15591 |
| 8131 | 459076 | 13284 | 121245 | (10290) | (6843) | 868 | 1954 | 2511 | 16149 |
| 549156 | 711620 | 65554 | 74799 | 8767 | 15797 | 4979 | 6563 | 80872 | 98820 |
| (262740) | (245676) | (97066) | (90575) | (24661) | (24921) | (1259) | (1205) | (75241) | (69907) |
| (303596) | (254873) | (4591) | (5032) | (3395) | (4797) | (2613) | (2197) | (706) | (338) |
| (6171) | (4944) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (750) | (867) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (29604) | (29497) | (1807) | (1059) | (1402) | (1364) | (480) | (464) | N/A | N/A |
| (1913) | (2413) | (302) | (266) | (844) | (588) | (36) | (37) | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | N/A | N/A |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (604774) | (538270) | (103766) | (96932) | (30302) | (31670) | (4388) | (3903) | (75947) | (70245) |
| 705985 | 252382 | (1603) | (368767) | (81290) | (221203) | 13830 | 13152 | 93045 | 233245 |
| 650367 | 425732 | (39815) | (390900) | (102825) | (237076) | 14421 | 15812 | 97970 | 261830 |
| 12468510 | 12042778 | 2265097 | 2655997 | 828253 | 1065329 | 96485 | 80673 | 1663113 | 1401293 |
| $13118877 | $12468510 | $2225282 | $2265097 | $725428 | $828253 | $110906 | $96485 | $1761083 | $1663113 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **25** |

---

------

Statements of Changes in Net Assets (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PIMCO**<br> **Mortgage Opportunities and**<br> **Bond Fund** | **PIMCO**<br> **Mortgage Opportunities and**<br> **Bond Fund** | **PIMCO**<br> **Total Return ESG Fund** | **PIMCO**<br> **Total Return ESG Fund** | **PIMCO**<br> **Total Return Fund II** | **PIMCO**<br> **Total Return Fund II** | **PIMCO**<br> **Total Return Fund IV** | **PIMCO**<br> **Total Return Fund IV** |
| (Amounts in thousands<sup>†</sup>) | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** | **Year Ended<br>March 31, 2026** | **Year Ended<br>March 31, 2025** |
|  **Increase (Decrease) in Net Assets from:** |  |  |  |  |  |  |  |  |
|  **Operations:** |  |  |  |  |  |  |  |  |
|  Net investment income (loss) | $642880 | $519122 | $62979 | $62494 | $22514 | $21067 | $13869 | $12263 |
|  Net realized gain (loss) | 156658 | 79388 | (11101) | (29991) | 1761 | 574 | (1215) | 115 |
|  Net change in unrealized appreciation (depreciation) | (93166) | 110096 | 20865 | 65750 | 2070 | 12506 | 1701 | 4224 |
|  **Net Increase (Decrease) in Net Assets Resulting<br>from Operations** | 706372 | 708606 | 72743 | 98253 | 26345 | 34147 | 14355 | 16602 |
|  **Distributions to Shareholders:** |  |  |  |  |  |  |  |  |
|  From net investment income and/or net realized capital gains |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | (506807) | (528047) | (52177) | (55618) | (22573) | (21077) | (13119) | (12037) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | (177217) | (191257) | (10050) | (9439) | (718) | (708) | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | (4929) | (5671) | (305) | (264) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | (641) | (605) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (15181) | (17009) | (450) | (464) | N/A | N/A | (618) | (466) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (2290) | (2354) | (19) | (19) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  Tax basis return of capital |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 0 | (1756) | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 0 | (643) | 0 | 0 | 0 | 0 | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 0 | (19) | 0 | 0 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | 0 | 0 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 0 | (60) | 0 | 0 | N/A | N/A | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 0 | (9) | 0 | 0 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Total Distributions<sup>(a)</sup>** | (706424) | (746825) | (63642) | (66409) | (23291) | (21785) | (13737) | (12503) |
|  **Fund Share Transactions:** |  |  |  |  |  |  |  |  |
|  Net increase (decrease) resulting from Fund share transactions\* | 1953873 | 2466016 | 45528 | (300709) | 18016 | (69594) | 31856 | 42223 |
|  **Total Increase (Decrease) in Net Assets** | 1953821 | 2427797 | 54629 | (268865) | 21070 | (57232) | 32474 | 46322 |
|  **Net Assets:** |  |  |  |  |  |  |  |  |
|  Beginning of period | 11651628 | 9223831 | 1616507 | 1885372 | 581137 | 638369 | 318083 | 271761 |
|  End of year | $13605449 | $11651628 | $1671136 | $1616507 | $602207 | $581137 | $350557 | $318083 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

\* See Note 13, Shares of Beneficial Interest, in the Notes to Financial Statements.

<sup>(a)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations. See Note 2, Distributions to Shareholders, in the Notes to Financial Statements for more information.

<sup>(b)</sup> Inception date of the class was October 31, 2025.

---

| | | |
|:---|:---|:---|
| **26** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | |
|:---|:---|
| **PIMCO**<br> **Total Return Fund V** | **PIMCO**<br> **Total Return Fund V** |
| Year Ended<br>March 31, 2026 | Year Ended<br>March 31, 2025 |
| $13602 | $9436 |
| 4055 | 42 |
| (3969) | 790 |
| 13688 | 10268 |
| (15883) | (10025) |
| N/A | N/A |
| N/A | N/A |
| N/A | N/A |
| (5)<sup>(b)</sup> | N/A |
| N/A | N/A |
| N/A | N/A |
| 0 | 0 |
| N/A | N/A |
| N/A | N/A |
| N/A | N/A |
| 0 <sup>(b)</sup> | N/A |
| N/A | N/A |
| N/A | N/A |
| (15888) | (10025) |
| 114711 | 101841 |
| 112511 | 102084 |
| 255981 | 153897 |
| $368492 | $255981 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **27** |

---

------

Statements of Cash Flows

---

| | | | | |
|:---|:---|:---|:---|:---|
| Year Ended March 31, 2026 |  |  |  |  |
| (Amounts in thousands<sup>†</sup>) | **PIMCO<br>Extended<br>Duration Fund** | **PIMCO<br>Long Duration<br>Total Return<br>Fund** | **PIMCO<br>Long-Term<br>U.S. Government<br>Fund** | **PIMCO<br>Total Return<br>ESG Fund** |
|  **Cash Flows Provided by (Used for) Operating Activities:** |  |  |  |  |
|  Net increase (decrease) in net assets resulting from operations | $(10907) | $65554 | $8767 | $72743 |
|  **Adjustments to Reconcile Net Increase (Decrease) in Net Assets from Operations to Net Cash Provided by (Used for) Operating Activities:** |  |  |  |  |
|  Purchases of long-term securities | (1640243) | (7917076) | (2114977) | (3953838) |
|  Proceeds from sales of long-term securities | 1488097 | 7387436 | 2100226 | 4032483 |
| (Purchases) Proceeds from sales of short-term portfolio investments, net | 4730 | 8295 | 23372 | (5495) |
| (Increase) decrease in deposits with counterparty | (3670) | (1673) | 3109 | 1454 |
| (Increase) decrease in receivable for investments sold | (16316) | (169955) | (51208) | 228970 |
| (Increase) decrease in interest and/or dividends receivable | (912) | (2399) | (595) | (469) |
| (Increase) decrease in dividends receivable from Affiliates | 8 | 160 | 76 | 0 |
|  Proceeds from (Payments on) exchange-traded or centrally cleared financial derivative instruments | 4128 | (7148) | 7366 | 6818 |
|  Proceeds from (Payments on) over the counter financial derivative instruments | 131 | (14520) | 1045 | (14301) |
|  Increase (decrease) in payable for investments purchased | 72242 | 514473 | 15430 | (271987) |
|  Increase (decrease) in deposits from counterparty | 280 | 5270 | (269) | 6496 |
|  Increase (decrease) in accrued investment advisory fees | 16 | 16 | (11) | 24 |
|  Increase (decrease) in accrued supervisory and administrative fees | 15 | 16 | (14) | 27 |
|  Increase (decrease) in accrued distribution fees | 0 | 0 | 2 | 0 |
|  Increase (decrease) in accrued servicing fees | 0 | 3 | 0 | 1 |
|  Proceeds from short sales transactions | 169034 | 565351 | 151906 | 353190 |
|  Payments on short sales transactions | (169034) | (560866) | (151905) | (363578) |
|  Proceeds from (Payments on) foreign currency transactions | 26 | (820) | 0 | (584) |
|  Increase (decrease) in foreign capital gains tax payable | 0 | 0 | 0 | (8) |
|  *Net Realized (Gain) Loss* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities | 32952 | 29181 | 3292 | 14939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Affiliates | 0 | 8 | (11) | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-traded or centrally cleared financial derivative instruments | 6445 | 3279 | 7081 | (12901) |
| &nbsp;&nbsp;&nbsp;&nbsp; Over the counter financial derivative instruments | (150) | 13080 | (1058) | 9408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency | (67) | (537) | 0 | (345) |
|  *Net Change in Unrealized (Appreciation) Depreciation* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities | (338) | (11794) | 26036 | (19299) |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Affiliates | (1) | 0 | (2) | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-traded or centrally cleared financial derivative instruments | (11991) | 4994 | (15740) | 3930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Over the counter financial derivative instruments | (738) | (7841) | (4) | (6425) |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency assets and liabilities | 41 | 1357 | 0 | 929 |
|  Net amortization (accretion) on investments | (24662) | (12750) | (4501) | (1208) |
|  **Net Cash Provided by (Used for) Operating Activities** | (100884) | (108906) | 7413 | 80974 |
|  **Cash Flows Received from (Used for) Financing Activities:** |  |  |  |  |
|  Proceeds from shares sold | 228771 | 706220 | 344585 | 380056 |
|  Payments on shares redeemed | (170548) | (803782) | (450323) | (396050) |
|  Increase (decrease) in overdraft due to custodian | 0 | 13 | 827 | 0 |
|  Cash distributions paid\* | (11) | (4746) | (883) | (3426) |
|  Proceeds from reverse repurchase agreements | 87990978 | 101939953 | 71063769 | 11766254 |
|  Payments on reverse repurchase agreements | (87979173) | (101803977) | (70981268) | (11819265) |
|  Proceeds from sale-buyback transactions | 496159 | 1606757 | 951963 | 170266 |
|  Payments on sale-buyback transactions | (465078) | (1531557) | (936257) | (178801) |
|  **Net Cash Received from (Used for) Financing Activities** | 101098 | 108881 | (7587) | (80966) |
|  **Net Increase (Decrease) in Cash and Foreign Currency** | 214 | (25) | (174) | 8 |
|  **Cash and Foreign Currency:** |  |  |  |  |
|  Beginning of year | 1861 | 4913 | 174 | 3789 |
|  End of year | $2075 | $4888 | $0 | $3797 |
|  \* Reinvestment of distributions | $15538 | $99124 | $29394 | $60272 |
|  **Supplemental Disclosure of Cash Flow Information:** |  |  |  |  |
|  Interest expense paid during the year | $21746 | $36349 | $25494 | $12590 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

A Statement of Cash Flows is presented when a Fund has a significant amount of borrowing during the year, based on the average total borrowing outstanding in relation to total assets or when substantially all of a Fund's investments are not classified as Level 1 or 2 in the fair value hierarchy.

---

| | | |
|:---|:---|:---|
| **28** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

Schedule of Investments PIMCO Climate Bond Fund March 31, 2026

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 96.4% | INVESTMENTS IN SECURITIES 96.4% | INVESTMENTS IN SECURITIES 96.4% |
| CORPORATE BONDS & NOTES 65.5% | CORPORATE BONDS & NOTES 65.5% | CORPORATE BONDS & NOTES 65.5% |
| BANKING & FINANCE 35.2% | BANKING & FINANCE 35.2% | BANKING & FINANCE 35.2% |
|  ABN AMRO Bank NV | ABN AMRO Bank NV | ABN AMRO Bank NV |
|  3.000% due 02/25/2031 | 100 | 113 |
|  5.125% due 02/22/2028 | 200 | 265 |
|  ACEF Holding SCA | ACEF Holding SCA | ACEF Holding SCA |
|  0.750% due 06/14/2028 | 100 | 108 |
|  AIB Group PLC | AIB Group PLC | AIB Group PLC |
|  2.875% due 05/30/2031 •  | 125 | 144 |
|  5.250% due 10/23/2031 •  | 100 | 123 |
|  Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. |
|  2.000% due 05/18/2032 | 160 | 134 |
|  American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP |
|  5.500% due 02/01/2034 | 100 | 101 |
|  Amvest RCF Custodian BV | Amvest RCF Custodian BV | Amvest RCF Custodian BV |
|  3.750% due 06/11/2031 | 100 | 114 |
|  Assura Financing PLC | Assura Financing PLC | Assura Financing PLC |
|  1.625% due 06/30/2033 | 125 | 124 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  0.625% due 06/24/2029 •  | 300 | 326 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.134% due 06/12/2028 | 100 | 118 |
|  6.204% due 11/10/2028 •  | 200 | 206 |
|  Bank of Ireland Group PLC | Bank of Ireland Group PLC | Bank of Ireland Group PLC |
|  5.000% due 07/04/2031 •  | 100 | 122 |
|  7.594% due 12/06/2032 •  | 100 | 136 |
|  Banque Federative du Credit Mutuel SA | Banque Federative du Credit Mutuel SA | Banque Federative du Credit Mutuel SA |
|  0.250% due 06/29/2028 | 100 | 108 |
|  Boston Properties LP | Boston Properties LP | Boston Properties LP |
|  2.450% due 10/01/2033 | 150 | 121 |
|  6.500% due 01/15/2034 | 20 | 21 |
|  British Land Co. PLC | British Land Co. PLC | British Land Co. PLC |
|  2.375% due 09/14/2029 | 100 | 120 |
|  Caja Rural de Navarra SCC | Caja Rural de Navarra SCC | Caja Rural de Navarra SCC |
|  3.000% due 04/26/2027 | 100 | 116 |
|  Castellum AB | Castellum AB | Castellum AB |
|  0.750% due 09/04/2026 | 100 | 114 |
|  CBRE Open-Ended Funds SCA SICAV-SIF | CBRE Open-Ended Funds SCA SICAV-SIF | CBRE Open-Ended Funds SCA SICAV-SIF |
|  0.900% due 10/12/2029 | 100 | 106 |
|  4.750% due 03/27/2034 | 100 | 118 |
|  CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. |
|  2.500% due 04/01/2031 | 100 | 89 |
|  5.950% due 08/15/2034 | 100 | 104 |
|  Commerzbank AG | Commerzbank AG | Commerzbank AG |
|  4.125% due 02/20/2037 •  | 200 | 228 |
|  Commonwealth Bank of Australia | Commonwealth Bank of Australia | Commonwealth Bank of Australia |
|  4.266% due 06/04/2034 •  | 100 | 117 |
|  Community Preservation Corp. | Community Preservation Corp. | Community Preservation Corp. |
|  2.867% due 02/01/2030 | 75 | 70 |
|  CPI Property Group SA | CPI Property Group SA | CPI Property Group SA |
|  4.750% due 07/22/2030 | 100 | 107 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  4.375% due 11/27/2033 | 300 | 355 |
|  CTP NV | CTP NV | CTP NV |
|  1.250% due 06/21/2029 | 200 | 214 |
|  Danske Bank AS | Danske Bank AS | Danske Bank AS |
|  3.500% due 05/26/2033 •  | 200 | 228 |
|  Derwent London PLC | Derwent London PLC | Derwent London PLC |
|  1.875% due 11/17/2031 | 100 | 109 |
|  Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG |
|  1.875% due 02/23/2028 •  | 200 | 229 |
|  Digital Realty Trust LP | Digital Realty Trust LP | Digital Realty Trust LP |
|  3.600% due 07/01/2029 | 125 | 121 |
|  DNB Bank ASA | DNB Bank ASA | DNB Bank ASA |
|  3.125% due 05/20/2031 •  | 100 | 114 |
|  4.625% due 11/01/2029 •  | 100 | 119 |
|  EQT AB | EQT AB | EQT AB |
|  0.875% due 05/14/2031 | 100 | 99 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  3.650% due 09/03/2033 | 100 | 112 |
|  4.000% due 05/19/2034 | 100 | 113 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
|  1.550% due 03/15/2028 | 80 | 76 |
|  ERP Operating LP | ERP Operating LP | ERP Operating LP |
|  1.850% due 08/01/2031 | 100 | 88 |
|  Erste Group Bank AG | Erste Group Bank AG | Erste Group Bank AG |
|  3.250% due 01/14/2033 •  | 100 | 113 |
|  Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial | Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial | Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial |
|  3.125% due 11/09/2031 | 100 | 115 |
|  European Investment Bank | European Investment Bank | European Investment Bank |
|  0.750% due 07/15/2027 | 200 | 131 |
|  2.750% due 01/16/2034 | 40 | 45 |
|  3.750% due 02/14/2033 | 240 | 234 |
|  Farmers Exchange Capital III | Farmers Exchange Capital III | Farmers Exchange Capital III |
|  5.454% due 10/15/2054 •  | 50 | 45 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  5.625% due 10/09/2028 | 100 | 132 |
|  Goodman Australia Finance Pty. Ltd. | Goodman Australia Finance Pty. Ltd. | Goodman Australia Finance Pty. Ltd. |
|  4.250% due 05/03/2030 | 100 | 117 |
|  Grainger PLC | Grainger PLC | Grainger PLC |
|  3.375% due 04/24/2028 | 100 | 127 |
|  HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
|  6.000% due 03/15/2036 | 50 | 49 |
|  6.750% due 07/15/2035 | 40 | 41 |
|  HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC |
|  3.750% due 09/15/2030 | 137 | 126 |
|  Healthpeak OP LLC | Healthpeak OP LLC | Healthpeak OP LLC |
|  2.125% due 12/01/2028 | 100 | 94 |
|  Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP |
|  2.900% due 12/15/2031 | 50 | 44 |
|  3.500% due 09/15/2030 | 100 | 94 |
|  5.700% due 07/01/2034 | 125 | 126 |
|  IHG Finance LLC | IHG Finance LLC | IHG Finance LLC |
|  4.375% due 11/28/2029 | 100 | 118 |
|  ING Groep NV | ING Groep NV | ING Groep NV |
|  4.000% due 02/12/2035 •  | 100 | 116 |
|  4.875% due 05/16/2029 •(c)(d) | 200 | 189 |
|  International Bank for Reconstruction & Development | International Bank for Reconstruction & Development | International Bank for Reconstruction & Development |
|  3.875% due 08/28/2034 | 75 | 73 |
|  4.000% due 08/27/2026 | 75 | 75 |
|  International Development Association | International Development Association | International Development Association |
|  4.375% due 06/11/2029 | 100 | 101 |
|  International Finance Corp. | International Finance Corp. | International Finance Corp. |
|  4.900% due 12/05/2034 | 200 | 133 |
|  Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |
|  8.248% due 11/21/2033 •  | 300 | 346 |
|  JAB Holdings BV | JAB Holdings BV | JAB Holdings BV |
|  4.375% due 04/25/2034 | 200 | 232 |
|  John Deere Capital Corp. | John Deere Capital Corp. | John Deere Capital Corp. |
|  5.100% due 04/11/2034 | 100 | 102 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  6.070% due 10/22/2027 •  | 200 | 202 |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  2.500% due 11/15/2032 | 100 | 81 |
|  Kreditanstalt fuer Wiederaufbau | Kreditanstalt fuer Wiederaufbau | Kreditanstalt fuer Wiederaufbau |
|  0.000% due 09/15/2031 (b) | 650 | 641 |
|  2.000% due 11/15/2029 | 300 | 337 |
|  2.500% due 10/09/2030 | 300 | 341 |
|  Lendlease Finance Ltd. | Lendlease Finance Ltd. | Lendlease Finance Ltd. |
|  3.400% due 10/27/2027 | 80 | 53 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  3.875% due 05/14/2032 •  | 100 | 116 |
|  Lseg Netherlands BV | Lseg Netherlands BV | Lseg Netherlands BV |
|  4.231% due 09/29/2030 | 100 | 119 |
|  Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. |
|  0.848% due 07/19/2029 | 200 | 212 |
|  Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. |
|  3.460% due 08/27/2030 •  | 250 | 288 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen |
|  1.000% due 05/26/2042 •  | 100 | 97 |
|  Nationale-Nederlanden Bank NV | Nationale-Nederlanden Bank NV | Nationale-Nederlanden Bank NV |
|  0.500% due 09/21/2028 | 100 | 108 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  1.875% due 05/17/2032 |  | 100 | 107 |
|  NatWest Group PLC | NatWest Group PLC | NatWest Group PLC | NatWest Group PLC |
|  2.057% due 11/09/2028 •  |  | 125 | 158 |
|  3.673% due 08/05/2031 •  |  | 150 | 174 |
|  7.500% due 02/28/2032 •(c)(d) |  | 200 | 264 |
|  NE Property BV | NE Property BV | NE Property BV | NE Property BV |
|  2.000% due 01/20/2030 |  | 100 | 107 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  5.430% due 03/09/2028 | $— | 200 | 203 |
|  P3 Group SARL | P3 Group SARL | P3 Group SARL | P3 Group SARL |
|  4.000% due 04/19/2032 |  | 100 | 113 |
|  Pacific Life Global Funding II | Pacific Life Global Funding II | Pacific Life Global Funding II | Pacific Life Global Funding II |
|  3.125% due 06/18/2031 |  | 100 | 113 |
|  Prologis International Funding II SA | Prologis International Funding II SA | Prologis International Funding II SA | Prologis International Funding II SA |
|  0.750% due 03/23/2033 |  | 125 | 115 |
|  0.875% due 07/09/2029 |  | 125 | 133 |
|  1.750% due 03/15/2028 |  | 125 | 140 |
|  Rayonier LP | Rayonier LP | Rayonier LP | Rayonier LP |
|  2.750% due 05/17/2031 | $— | 100 | 90 |
|  Sagax AB | Sagax AB | Sagax AB | Sagax AB |
|  4.375% due 05/29/2030 |  | 200 | 234 |
|  Segro Capital SARL | Segro Capital SARL | Segro Capital SARL | Segro Capital SARL |
|  0.500% due 09/22/2031 |  | 100 | 97 |
|  Shinhan Bank Co. Ltd. | Shinhan Bank Co. Ltd. | Shinhan Bank Co. Ltd. | Shinhan Bank Co. Ltd. |
|  3.320% due 01/29/2027 |  | 100 | 116 |
|  Sirius Real Estate Ltd. | Sirius Real Estate Ltd. | Sirius Real Estate Ltd. | Sirius Real Estate Ltd. |
|  1.750% due 11/24/2028 |  | 200 | 221 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |
|  0.800% due 11/17/2029 •  |  | 100 | 108 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  3.318% due 10/07/2031 |  | 100 | 114 |
|  Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. |
|  5.500% due 03/09/2028 | $— | 200 | 204 |
|  Svenska Handelsbanken AB | Svenska Handelsbanken AB | Svenska Handelsbanken AB | Svenska Handelsbanken AB |
|  3.250% due 08/27/2031 |  | 200 | 228 |
|  Unibail-Rodamco-Westfield SE | Unibail-Rodamco-Westfield SE | Unibail-Rodamco-Westfield SE | Unibail-Rodamco-Westfield SE |
|  3.875% due 09/11/2034 |  | 200 | 224 |
|  UniCredit Bank Czech Republic & Slovakia AS | UniCredit Bank Czech Republic & Slovakia AS | UniCredit Bank Czech Republic & Slovakia AS | UniCredit Bank Czech Republic & Slovakia AS |
|  3.750% due 06/20/2028 |  | 100 | 117 |
|  VIA Outlets BV | VIA Outlets BV | VIA Outlets BV | VIA Outlets BV |
|  1.750% due 11/15/2028 |  | 100 | 110 |
|  Volkswagen Financial Services AG | Volkswagen Financial Services AG | Volkswagen Financial Services AG | Volkswagen Financial Services AG |
|  3.875% due 09/10/2030 |  | 200 | 232 |
|  Warehouses De Pauw CVA | Warehouses De Pauw CVA | Warehouses De Pauw CVA | Warehouses De Pauw CVA |
|  3.125% due 01/15/2031 |  | 100 | 112 |
|  Weyerhaeuser Co. | Weyerhaeuser Co. | Weyerhaeuser Co. | Weyerhaeuser Co. |
|  7.375% due 03/15/2032 | $— | 9 | 10 |
|  Workspace Group PLC | Workspace Group PLC | Workspace Group PLC | Workspace Group PLC |
|  2.250% due 03/11/2028 |  | 100 | 124 |
|  ZF Finance GmbH | ZF Finance GmbH | ZF Finance GmbH | ZF Finance GmbH |
|  2.000% due 05/06/2027 |  | 100 | 114 |
|  |  |  | 15445 |
| INDUSTRIALS 14.5% | INDUSTRIALS 14.5% | INDUSTRIALS 14.5% | INDUSTRIALS 14.5% |
|  Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
|  2.050% due 08/15/2050 | $— | 100 | 54 |
|  3.125% due 11/06/2034 |  | 100 | 111 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  3.000% due 02/22/2029 | $— | 200 | 193 |
|  Amprion GmbH | Amprion GmbH | Amprion GmbH | Amprion GmbH |
|  3.625% due 05/21/2031 |  | 100 | 115 |
|  3.875% due 09/07/2028 |  | 100 | 117 |
|  AP Moller - Maersk AS | AP Moller - Maersk AS | AP Moller - Maersk AS | AP Moller - Maersk AS |
|  5.875% due 09/14/2033 | $— | 66 | 69 |
|  Arcadis NV | Arcadis NV | Arcadis NV | Arcadis NV |
|  4.875% due 02/28/2028 |  | 100 | 118 |
|  Autodesk, Inc. | Autodesk, Inc. | Autodesk, Inc. | Autodesk, Inc. |
|  2.400% due 12/15/2031 | $— | 50 | 44 |
|  5.300% due 06/15/2035 |  | 200 | 200 |
|  BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC |
|  6.500% due 07/10/2031 |  | 100 | 99 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **29** |

---

------

Schedule of Investments PIMCO Climate Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Berkeley Group PLC | Berkeley Group PLC | Berkeley Group PLC |
|  2.500% due 08/11/2031 | 100 | 112 |
|  Boston Scientific Corp. | Boston Scientific Corp. | Boston Scientific Corp. |
|  2.650% due 06/01/2030 | 50 | 47 |
|  Burberry Group PLC | Burberry Group PLC | Burberry Group PLC |
|  5.750% due 06/20/2030 | 125 | 166 |
|  Campbell's Co. | Campbell's Co. | Campbell's Co. |
|  4.550% due 03/21/2031 | 100 | 97 |
|  CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. |
|  5.550% due 08/22/2034 | 35 | 34 |
|  Chanel Ceres PLC | Chanel Ceres PLC | Chanel Ceres PLC |
|  1.000% due 07/31/2031 | 150 | 151 |
|  Comcast Corp. | Comcast Corp. | Comcast Corp. |
|  4.650% due 02/15/2033 | 40 | 40 |
|  Continental Wind LLC | Continental Wind LLC | Continental Wind LLC |
|  6.000% due 02/28/2033 | 39 | 40 |
|  Coty, Inc. | Coty, Inc. | Coty, Inc. |
|  4.500% due 05/15/2027 | 100 | 116 |
|  Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |
|  4.750% due 01/15/2029 | 111 | 108 |
|  Denso Corp. | Denso Corp. | Denso Corp. |
|  4.420% due 09/11/2029 | 100 | 100 |
|  DSV Finance BV | DSV Finance BV | DSV Finance BV |
|  0.500% due 03/03/2031 | 100 | 100 |
|  Ellevio AB | Ellevio AB | Ellevio AB |
|  3.750% due 05/14/2035 | 100 | 113 |
|  Flora Food Management BV | Flora Food Management BV | Flora Food Management BV |
|  6.875% due 07/02/2029 | 100 | 109 |
|  Ford Motor Co. | Ford Motor Co. | Ford Motor Co. |
|  6.100% due 08/19/2032 | 38 | 38 |
|  Forvia SE | Forvia SE | Forvia SE |
|  2.375% due 06/15/2029 | 100 | 110 |
|  Givaudan Finance Europe BV | Givaudan Finance Europe BV | Givaudan Finance Europe BV |
|  2.875% due 09/09/2029 | 100 | 114 |
|  Hanwha Q Cells Americas Holdings Corp. | Hanwha Q Cells Americas Holdings Corp. | Hanwha Q Cells Americas Holdings Corp. |
|  5.000% due 07/27/2028 | 200 | 203 |
|  Informa PLC | Informa PLC | Informa PLC |
|  3.375% due 06/09/2031 | 100 | 112 |
|  JDE Peet's NV | JDE Peet's NV | JDE Peet's NV |
|  2.250% due 09/24/2031 | 150 | 130 |
|  Kerry Group Financial Services Unltd. Co. | Kerry Group Financial Services Unltd. Co. | Kerry Group Financial Services Unltd. Co. |
|  3.375% due 03/05/2033 | 200 | 224 |
|  Latvenergo AS | Latvenergo AS | Latvenergo AS |
|  3.612% due 11/13/2030 | 100 | 113 |
|  Levi Strauss & Co. | Levi Strauss & Co. | Levi Strauss & Co. |
|  3.500% due 03/01/2031 | 55 | 50 |
|  Moody's Corp. | Moody's Corp. | Moody's Corp. |
|  2.000% due 08/19/2031 | 100 | 88 |
|  3.100% due 11/29/2061 | 30 | 18 |
|  MSCI, Inc. | MSCI, Inc. | MSCI, Inc. |
|  3.625% due 09/01/2030 | 100 | 95 |
|  Nexans SA | Nexans SA | Nexans SA |
|  4.250% due 03/11/2030 | 100 | 116 |
|  Norsk Hydro ASA | Norsk Hydro ASA | Norsk Hydro ASA |
|  3.625% due 01/23/2032 | 100 | 114 |
|  Novartis Capital Corp. | Novartis Capital Corp. | Novartis Capital Corp. |
|  5.600% due 03/18/2046 | 100 | 100 |
|  NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. |
|  0.399% due 12/13/2028 | 100 | 107 |
|  Oberlin College | Oberlin College | Oberlin College |
|  2.874% due 10/01/2051 | 125 | 78 |
|  Owens Corning | Owens Corning | Owens Corning |
|  5.500% due 06/15/2027 | 100 | 101 |
|  PepsiCo, Inc. | PepsiCo, Inc. | PepsiCo, Inc. |
|  3.900% due 07/18/2032 | 40 | 39 |
|  SGS Finance BV | SGS Finance BV | SGS Finance BV |
|  3.125% due 09/10/2030 | 100 | 113 |
|  Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC |
|  0.500% due 09/22/2029 | 100 | 104 |
|  5.438% due 04/03/2034 | 100 | 102 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC |
|  5.185% due 01/15/2036 | 200 | 197 |
|  Swisscom Finance BV | Swisscom Finance BV | Swisscom Finance BV |
|  3.250% due 09/05/2034 | 100 | 111 |
|  Symrise AG | Symrise AG | Symrise AG |
|  3.250% due 09/24/2032 | 100 | 113 |
|  Synopsys, Inc. | Synopsys, Inc. | Synopsys, Inc. |
|  5.000% due 04/01/2032 | 50 | 50 |
|  5.150% due 04/01/2035 | 200 | 200 |
|  T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
|  4.950% due 03/15/2028 | 100 | 101 |
|  Telefonica Emisiones SA | Telefonica Emisiones SA | Telefonica Emisiones SA |
|  4.183% due 11/21/2033 | 100 | 116 |
|  Tennet Netherlands BV | Tennet Netherlands BV | Tennet Netherlands BV |
|  4.500% due 10/28/2034 | 100 | 123 |
|  Trane Technologies Financing Ltd. | Trane Technologies Financing Ltd. | Trane Technologies Financing Ltd. |
|  3.800% due 03/21/2029 | 125 | 123 |
|  5.100% due 06/13/2034 | 40 | 41 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  5.625% due 04/15/2032 | 100 | 107 |
|  Volkswagen International Finance NV | Volkswagen International Finance NV | Volkswagen International Finance NV |
|  5.994% due 11/15/2033 •(c) | 100 | 116 |
|  Wabtec Transportation Netherlands BV | Wabtec Transportation Netherlands BV | Wabtec Transportation Netherlands BV |
|  1.250% due 12/03/2027 | 200 | 224 |
|  ZF North America Capital, Inc. | ZF North America Capital, Inc. | ZF North America Capital, Inc. |
|  6.875% due 04/14/2028 | 10 | 10 |
|  |  | 6354 |
| UTILITIES 15.8% | UTILITIES 15.8% | UTILITIES 15.8% |
|  AES Corp. | AES Corp. | AES Corp. |
|  2.450% due 01/15/2031 | 84 | 74 |
|  5.450% due 06/01/2028 | 40 | 40 |
|  Alliander NV | Alliander NV | Alliander NV |
|  3.000% due 05/06/2033 | 200 | 221 |
|  British Telecommunications PLC | British Telecommunications PLC | British Telecommunications PLC |
|  3.875% due 01/20/2034 | 100 | 115 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  5.300% due 04/01/2053 | 25 | 24 |
|  Clearway Energy Operating LLC | Clearway Energy Operating LLC | Clearway Energy Operating LLC |
|  5.750% due 01/15/2034 | 200 | 197 |
|  Colbun SA | Colbun SA | Colbun SA |
|  5.375% due 09/11/2035 | 200 | 196 |
|  Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC |
|  5.794% due 06/30/2053 | 200 | 194 |
|  EDP Servicios Financieros Espana SA | EDP Servicios Financieros Espana SA | EDP Servicios Financieros Espana SA |
|  4.375% due 04/04/2032 | 200 | 239 |
|  Electricite de France SA | Electricite de France SA | Electricite de France SA |
|  4.750% due 06/17/2044 | 100 | 115 |
|  7.375% due 06/17/2035 •(c) | 100 | 134 |
|  EnBW Energie Baden-Wuerttemberg AG | EnBW Energie Baden-Wuerttemberg AG | EnBW Energie Baden-Wuerttemberg AG |
|  4.500% due 07/28/2055 •  | 100 | 112 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  1.625% due 07/12/2026 | 200 | 199 |
|  Eurogrid GmbH | Eurogrid GmbH | Eurogrid GmbH |
|  3.732% due 10/18/2035 | 100 | 112 |
|  Hanwha Energy USA Holdings Corp. | Hanwha Energy USA Holdings Corp. | Hanwha Energy USA Holdings Corp. |
|  4.375% due 07/02/2028 | 200 | 200 |
|  iliad SA | iliad SA | iliad SA |
|  4.250% due 12/15/2029 | 200 | 232 |
|  Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. |
|  4.100% due 09/26/2028 | 100 | 99 |
|  MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. |
|  3.650% due 08/01/2048 | 150 | 110 |
|  4.250% due 07/15/2049 | 25 | 20 |
|  Mississippi Power Co. | Mississippi Power Co. | Mississippi Power Co. |
|  3.100% due 07/30/2051 | 50 | 32 |
|  National Grid PLC | National Grid PLC | National Grid PLC |
|  3.875% due 01/16/2029 | 100 | 117 |
|  NBN Co. Ltd. | NBN Co. Ltd. | NBN Co. Ltd. |
|  3.500% due 03/22/2030 | 200 | 231 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. |
|  5.650% due 08/15/2028 | $| 325 | 334 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  1.900% due 06/15/2028 |  | 100 | 95 |
|  Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. |
|  1.960% due 06/27/2030 |  | 125 | 113 |
|  5.783% due 09/16/2052 |  | 40 | 39 |
|  NSTAR Electric Co. | NSTAR Electric Co. | NSTAR Electric Co. | NSTAR Electric Co. |
|  3.100% due 06/01/2051 |  | 25 | 16 |
|  3.250% due 05/15/2029 |  | 80 | 77 |
|  Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
|  3.500% due 05/15/2031 | EUR | 100 | 115 |
|  Orsted AS | Orsted AS | Orsted AS | Orsted AS |
|  5.125% due 09/13/2034 | GBP | 100 | 123 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  6.700% due 04/01/2053 | $| 41 | 42 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  3.200% due 03/01/2050 |  | 53 | 35 |
|  3.700% due 06/15/2028 |  | 150 | 148 |
|  Public Service Co. of Oklahoma | Public Service Co. of Oklahoma | Public Service Co. of Oklahoma | Public Service Co. of Oklahoma |
|  2.200% due 08/15/2031 |  | 200 | 176 |
|  Public Service Electric & Gas Co. | Public Service Electric & Gas Co. | Public Service Electric & Gas Co. | Public Service Electric & Gas Co. |
|  3.100% due 03/15/2032 |  | 200 | 184 |
|  4.650% due 03/15/2033 |  | 50 | 49 |
|  Puget Sound Energy, Inc. | Puget Sound Energy, Inc. | Puget Sound Energy, Inc. | Puget Sound Energy, Inc. |
|  5.685% due 06/15/2054 |  | 20 | 20 |
|  Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. |
|  6.500% due 02/02/2031 |  | 200 | 194 |
|  RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC |
|  5.125% due 09/18/2035 |  | 150 | 146 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  4.950% due 08/15/2028 |  | 150 | 152 |
|  Severn Trent Utilities Finance PLC | Severn Trent Utilities Finance PLC | Severn Trent Utilities Finance PLC | Severn Trent Utilities Finance PLC |
|  2.625% due 02/22/2033 | GBP | 100 | 110 |
|  3.875% due 08/04/2035 | EUR | 100 | 113 |
|  3.875% due 08/04/2037 |  | 100 | 111 |
|  Solar Star Funding LLC | Solar Star Funding LLC | Solar Star Funding LLC | Solar Star Funding LLC |
|  5.375% due 06/30/2035 | $| 195 | 195 |
|  South Eastern Power Networks PLC | South Eastern Power Networks PLC | South Eastern Power Networks PLC | South Eastern Power Networks PLC |
|  1.750% due 09/30/2034 | GBP | 200 | 197 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.500% due 06/01/2031 | $| 225 | 201 |
|  3.450% due 02/01/2052 |  | 100 | 66 |
|  Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. |
|  3.150% due 05/01/2050 |  | 80 | 52 |
|  3.750% due 06/15/2049 |  | 50 | 36 |
|  SSE PLC | SSE PLC | SSE PLC | SSE PLC |
|  4.000% due 09/05/2031 | EUR | 100 | 117 |
|  TDC Net AS | TDC Net AS | TDC Net AS | TDC Net AS |
|  5.618% due 02/06/2030 |  | 100 | 122 |
|  United Utilities Water Finance PLC | United Utilities Water Finance PLC | United Utilities Water Finance PLC | United Utilities Water Finance PLC |
|  3.750% due 05/23/2034 |  | 100 | 113 |
|  Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
|  1.500% due 09/18/2030 | $| 280 | 246 |
|  Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC |
|  5.125% due 06/04/2081 •  |  | 65 | 51 |
|  Wisconsin Electric Power Co. | Wisconsin Electric Power Co. | Wisconsin Electric Power Co. | Wisconsin Electric Power Co. |
|  4.750% due 09/30/2032 |  | 20 | 20 |
|  Wisconsin Power & Light Co. | Wisconsin Power & Light Co. | Wisconsin Power & Light Co. | Wisconsin Power & Light Co. |
|  4.950% due 04/01/2033 |  | 132 | 133 |
|  |  |  | 6954 |
|  Total Corporate Bonds & Notes (Cost $28,630) | Total Corporate Bonds & Notes (Cost $28,630) | Total Corporate Bonds & Notes (Cost $28,630) | 28753 |
| MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% |
| FLORIDA 0.2% | FLORIDA 0.2% | FLORIDA 0.2% | FLORIDA 0.2% |
|  State Board of Administration Finance Corp. Florida Revenue Notes, Series 2020 | State Board of Administration Finance Corp. Florida Revenue Notes, Series 2020 | State Board of Administration Finance Corp. Florida Revenue Notes, Series 2020 | State Board of Administration Finance Corp. Florida Revenue Notes, Series 2020 |
|  2.154% due 07/01/2030 |  | 110 | 101 |

---

30 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| NEW YORK 0.3% | NEW YORK 0.3% | NEW YORK 0.3% |
|  New York City, New York Municipal Water Finance Authority, New York Revenue Bonds, (BABs), Series 2010 | New York City, New York Municipal Water Finance Authority, New York Revenue Bonds, (BABs), Series 2010 | New York City, New York Municipal Water Finance Authority, New York Revenue Bonds, (BABs), Series 2010 |
|  5.724% due 06/15/2042 | 110 | 110 |
|  Total Municipal Bonds & Notes (Cost $270) | Total Municipal Bonds & Notes (Cost $270) | 211 |
| U.S. GOVERNMENT AGENCIES 3.6% | U.S. GOVERNMENT AGENCIES 3.6% | U.S. GOVERNMENT AGENCIES 3.6% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  4.500% due 02/01/2053 - 06/01/2053 | 171 | 166 |
|  5.000% due 02/01/2053 - 07/01/2054 | 256 | 252 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  4.500% due 05/01/2053 - 07/01/2053 | 172 | 167 |
|  5.000% due 10/01/2053 - 11/01/2053 | 1016 | 1007 |
|  Total U.S. Government Agencies (Cost $1,560) | Total U.S. Government Agencies (Cost $1,560) | 1592 |
| U.S. TREASURY OBLIGATIONS 0.7% | U.S. TREASURY OBLIGATIONS 0.7% | U.S. TREASURY OBLIGATIONS 0.7% |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  4.625% due 02/15/2035 | 300 | 308 |
|  Total U.S. Treasury Obligations (Cost $310) | Total U.S. Treasury Obligations (Cost $310) | 308 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 1.0% | NON-AGENCY MORTGAGE-BACKED SECURITIES 1.0% | NON-AGENCY MORTGAGE-BACKED SECURITIES 1.0% |
|  CSMC Trust | CSMC Trust | CSMC Trust |
|  3.431% due 11/10/2032 | 100 | 85 |
|  Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust |
|  3.622% due 05/15/2039 | 100 | 96 |
|  One Bryant Park Trust | One Bryant Park Trust | One Bryant Park Trust |
|  2.516% due 09/15/2054 | 100 | 92 |
|  VASA Trust | VASA Trust | VASA Trust |
|  4.687% due 07/15/2039 •  | 100 | 98 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  5.204% due 09/15/2040 ~ | 75 | 75 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $481) | Total Non-Agency Mortgage-Backed Securities (Cost $481) | 446 |
| ASSET-BACKED SECURITIES 1.9% | ASSET-BACKED SECURITIES 1.9% | ASSET-BACKED SECURITIES 1.9% |
| AUTOMOBILE SEQUENTIAL 0.1% | AUTOMOBILE SEQUENTIAL 0.1% | AUTOMOBILE SEQUENTIAL 0.1% |
|  Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC |
|  5.490% due 06/25/2027 | 25 | 25 |
| OTHER ABS 1.8% | OTHER ABS 1.8% | OTHER ABS 1.8% |
|  GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust |
|  2.100% due 05/20/2048 | 60 | 47 |
|  4.000% due 04/20/2049 | 37 | 32 |
|  4.950% due 07/20/2049 | 75 | 68 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. |
|  2.220% due 03/20/2048 | 42 | 33 |
|  Mosaic Solar Loan Trust | Mosaic Solar Loan Trust | Mosaic Solar Loan Trust |
|  2.640% due 01/20/2053 | 62 | 54 |
|  QTS Issuer ABS II LLC | QTS Issuer ABS II LLC | QTS Issuer ABS II LLC |
|  5.848% due 01/05/2056 | 150 | 147 |
|  Sunnova Helios XI Issuer LLC | Sunnova Helios XI Issuer LLC | Sunnova Helios XI Issuer LLC |
|  5.300% due 05/20/2050 | 85 | 79 |
|  Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC |
|  5.750% due 12/20/2050 | 86 | 84 |
|  Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC |
|  2.790% due 02/22/2049 | 117 | 99 |
|  Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC |
|  2.270% due 01/30/2057 | 155 | 141 |
|  |  | 784 |
|  Total Asset-Backed Securities (Cost $887) | Total Asset-Backed Securities (Cost $887) | 809 |
| SOVEREIGN ISSUES 11.2% | SOVEREIGN ISSUES 11.2% | SOVEREIGN ISSUES 11.2% |
|  Adif Alta Velocidad | Adif Alta Velocidad | Adif Alta Velocidad |
|  3.125% due 10/31/2032 | 100 | 113 |
|  3.500% due 04/30/2032 | 100 | 116 |
|  Agence Francaise de Developpement EPIC | Agence Francaise de Developpement EPIC | Agence Francaise de Developpement EPIC |
|  3.500% due 02/25/2033 | 200 | 229 |
|  Australia Government Bonds | Australia Government Bonds | Australia Government Bonds |
|  4.250% due 06/21/2034 | 1200 | 792 |
|  Brazil Government International Bonds | Brazil Government International Bonds | Brazil Government International Bonds |
|  5.500% due 02/04/2033 | 200 | 197 |
|  Bundesrepublik Deutschland Bundesanleihe | Bundesrepublik Deutschland Bundesanleihe | Bundesrepublik Deutschland Bundesanleihe |
|  2.300% due 02/15/2033 | 150 | 168 |
|  2.500% due 02/15/2035 | 100 | 112 |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  2.250% due 12/01/2029 | 50 | 35 |
|  3.000% due 03/01/2032 | 200 | 142 |
|  3.500% due 03/01/2034 | 600 | 436 |
|  Chile Government International Bonds | Chile Government International Bonds | Chile Government International Bonds |
|  3.875% due 04/14/2036 | 100 | 112 |
|  European Union | European Union | European Union |
|  2.625% due 02/04/2048 | 60 | 56 |
|  2.750% due 02/04/2033 | 135 | 153 |
|  3.250% due 02/04/2050 | 100 | 102 |
|  Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds |
|  4.875% due 03/22/2040 | 100 | 113 |
|  Ile-de-France Mobilites | Ile-de-France Mobilites | Ile-de-France Mobilites |
|  3.050% due 02/03/2033 | 100 | 112 |
|  Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro |
|  4.050% due 10/30/2037 | 50 | 58 |
|  Kingdom of Belgium Government Bonds | Kingdom of Belgium Government Bonds | Kingdom of Belgium Government Bonds |
|  2.750% due 04/22/2039 | 100 | 103 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Ministeries Van de Vlaamse Gemeenschap | Ministeries Van de Vlaamse Gemeenschap | Ministeries Van de Vlaamse Gemeenschap |
|  3.250% due 01/12/2043 | 100 | 102 |
|  Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV |
|  3.000% due 04/20/2033 | 100 | 114 |
|  Ontario Teachers' Finance Trust | Ontario Teachers' Finance Trust | Ontario Teachers' Finance Trust |
|  2.850% due 12/04/2031 | 150 | 170 |
|  Province of Ontario | Province of Ontario | Province of Ontario |
|  4.100% due 03/04/2033 | 100 | 74 |
|  Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. |
|  5.000% due 03/10/2036 | 200 | 132 |
|  Regie Autonome des Transports Parisiens EPIC | Regie Autonome des Transports Parisiens EPIC | Regie Autonome des Transports Parisiens EPIC |
|  3.250% due 04/11/2033 | 100 | 113 |
|  SFIL SA | SFIL SA | SFIL SA |
|  3.125% due 09/17/2029 | 100 | 115 |
|  Slovenia Government Bonds | Slovenia Government Bonds | Slovenia Government Bonds |
|  3.125% due 07/02/2035 | 80 | 90 |
|  Societe Des Grands Projets EPIC | Societe Des Grands Projets EPIC | Societe Des Grands Projets EPIC |
|  0.300% due 11/25/2031 | 200 | 196 |
|  Societe Nationale SNCF SACA | Societe Nationale SNCF SACA | Societe Nationale SNCF SACA |
|  3.125% due 11/02/2027 | 100 | 116 |
|  Treasury Corp. of Victoria | Treasury Corp. of Victoria | Treasury Corp. of Victoria |
|  2.000% due 09/17/2035 | 300 | 152 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  0.875% due 07/31/2033 | 200 | 203 |
|  1.500% due 07/31/2053 | 70 | 40 |
|  4.375% due 07/31/2054 | 136 | 150 |
| Total Sovereign Issues (Cost $4,840) | Total Sovereign Issues (Cost $4,840) | 4916 |
| SHORT-TERM INSTRUMENTS 12.0% | SHORT-TERM INSTRUMENTS 12.0% | SHORT-TERM INSTRUMENTS 12.0% |
| U.S. TREASURY BILLS 12.0% | U.S. TREASURY BILLS 12.0% | U.S. TREASURY BILLS 12.0% |
|  2.858% due 04/14/2026 - 06/25/2026 (a)(b) | 5300 | 5277 |
| Total Short-Term Instruments<br> (Cost $5,277) | Total Short-Term Instruments<br> (Cost $5,277) | 5277 |
| Total Investments in Securities<br> (Cost $42,255) | Total Investments in Securities<br> (Cost $42,255) | 42312 |
| Total Investments 96.4%<br> (Cost $42,255) | Total Investments 96.4%<br> (Cost $42,255) | 42312 |
|  Financial Derivative<br>Instruments (e)(f) 1.3%<br> (Cost or Premiums, net $54) | Financial Derivative<br>Instruments (e)(f) 1.3%<br> (Cost or Premiums, net $54) | 561 |
| Other Assets and Liabilities, net 2.3% | Other Assets and Liabilities, net 2.3% | 1012 |
| Net Assets 100.0% |  | 43885 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

---

| | |
|:---|:---|
| ~ | 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.

(a) Coupon represents a weighted average yield to maturity.

(b) Zero coupon security.

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

(d) Contingent convertible security.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **31** |

---

------

Schedule of Investments PIMCO Climate Bond Fund (Cont.)

&nbsp;&nbsp;&nbsp;&nbsp;(e) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 7 | $520 | $(5) | $5 | $0 |
|  Canada Government 2-Year Bond June Futures  | 06/2026 | 3 | 227 | (1) | 0 | 0 |
|  Euro-Bobl June Futures  | 06/2026 | 4 | 534 | (7) | 2 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16119 | (225) | 21 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 11 | 1249 | (29) | 3 | 0 |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 2 | 228 | (7) | 1 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(274) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Canada Government 10-Year Bond June Futures  | 06/2026 | 1 | $(86) | $2 | $0 | $0 |
|  Euro-Bund June Futures  | 06/2026 | 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2464) | 63 | 0 | (18) |
|  Euro-Buxl 30-Year Bond June Futures  | 06/2026 | 2 | (255) | 3 | 0 | (5) |
|  Long Guilt June Futures  | 06/2026 | 3 | (349) | 20 | 0 | (3) |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 10 | (2074) | 14 | 0 | (1) |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 6 | (666) | 13 | 0 | (1) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 1 | (117) | 4 | 0 | 0 |
|  |  |  |  | $119 | $0 | $(28) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(155) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28) |

---

#### SWAP AGREEMENTS:

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
|  Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 650 | $(3) | $(25) | $(28) | $2 | $0 |
|  Receive | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 03/18/2056 | 50 | 0 | 3 | 3 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 12/16/2050 | $280 | 84 | 55 | 139 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 400 | 11 | 34 | 45 | 1 | 0 |
|  Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.250 | Annual | 09/16/2028 | 1600 | (17) | (7) | (24) | 3 | 0 |
|  Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 09/16/2031 | 1900 | 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) | 10 | 0 |
|  Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 90 | 2 | 0 | 2 | 0 | (1) |
|  Pay | CAONREPO | 1.000 | Semi-Annual | 06/16/2026 | 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) | 23 | (2) | 0 | 0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  |  |  | $54 | $37 | $91 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $0 | $32 | $17 | $49 | $0 | $(28) | $(1) | $(29) |

---

Cash of $502 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

---

| | | |
|:---|:---|:---|
| **32** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;(f) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | Unrealized Appreciation/<br>(Depreciation) | Unrealized Appreciation/<br>(Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | Asset | Liability |
|  BOA | 04/2026 | 1077 | $788 | $14 | $0 |
|  | 04/2026 | 687 | 800 | 6 | 0 |
|  | 04/2026 | 524 | 6 | 0 | 0 |
|  | 04/2026 | 13826 | 87 | 0 | 0 |
|  | 04/2026 | $6 | 525 | 0 | 0 |
|  | 05/2026 | 22 | 19 | 0 | 0 |
|  | 05/2026 | 87 | 13784 | 0 | 0 |
|  BPS | 04/2026 | 2497 | $2952 | 66 | 0 |
|  | 04/2026 | 12 | 16 | 0 | 0 |
|  CBK | 04/2026 | 140 | 164 | 3 | 0 |
|  | 04/2026 | 4243 | 45 | 1 | 0 |
|  | 04/2026 | $136 | 117 | 0 | (1) |
|  | 04/2026 | 112 | 10362 | 0 | (3) |
|  FAR | 04/2026 | 1849 | $1313 | 37 | 0 |
|  | 04/2026 | 2208 | 2984 | 61 | 0 |
|  | 04/2026 | 18926 | 119 | 0 | (1) |
|  | 04/2026 | $2933 | 2208 | 0 | (10) |
|  | 04/2026 | 38 | 5929 | 0 | (1) |
|  | 05/2026 | 2208 | $2933 | 10 | 0 |
|  | 05/2026 | $119 | 18869 | 1 | 0 |
|  JPM | 04/2026 | 950 | $10 | 0 | 0 |
|  | 04/2026 | $10 | 952 | 0 | 0 |
|  MBC | 04/2026 | 231 | $163 | 4 | 0 |
|  | 04/2026 | 9967 | 62 | 0 | 0 |
|  | 04/2026 | $22 | 19 | 0 | 0 |
|  | 04/2026 | 41 | 6419 | 0 | (1) |
|  | 05/2026 | 62 | 9937 | 0 | 0 |
|  MYI | 04/2026 | 1123 | $12 | 0 | 0 |
|  | 04/2026 | $12 | 1128 | 0 | 0 |
|  RBC | 05/2026 | 2080 | $1430 | 0 | (5) |
|  SCX | 04/2026 | $779 | 1078 | 0 | (3) |
|  | 04/2026 | 8 | 725 | 0 | 0 |
|  | 04/2026 | 30 | 4663 | 0 | (1) |
|  | 05/2026 | 1077 | $779 | 4 | 0 |
|  SOG | 04/2026 | 13013 | 15403 | 362 | 0 |
|  | 04/2026 | $18694 | 16200 | 32 | 0 |
|  | 04/2026 | 165 | 25719 | 0 | (3) |
|  | 05/2026 | 16200 | $18723 | 0 | (31) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(1)</sup> |
|  BOA | $20 | $0 | $0 | $20 | $0 | $0 | $0 | $0 | $20 | $0 | $20 |
|  BPS | 66 | 0 | 0 | 66 | 0 | 0 | 0 | 0 | 66 | 0 | 66 |
|  CBK | 4 | 0 | 0 | 4 | (4) | 0 | 0 | (4) | 0 | 0 | 0 |
|  FAR | 109 | 0 | 0 | 109 | (12) | 0 | 0 | (12) | 97 | 0 | 97 |
|  MBC | 4 | 0 | 0 | 4 | (1) | 0 | 0 | (1) | 3 | 0 | 3 |
|  RBC | 0 | 0 | 0 | 0 | (5) | 0 | 0 | (5) | (5) | 0 | (5) |
|  SCX | 4 | 0 | 0 | 4 | (4) | 0 | 0 | (4) | 0 | 0 | 0 |
|  SOG | 394 | 0 | 0 | 394 | (34) | 0 | 0 | (34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60) |  |  |  |

---

<sup>(1)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **33** |

---

------

Schedule of Investments PIMCO Climate Bond Fund (Cont.)

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $32 | $32 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 17 | 17 |
|  | $0 | $0 | $0 | $0 | $49 | $49 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | $0 | $601 |
|  | $0 | $0 | $0 | $601 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $28 | $28 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 1 | 1 |
|  | $0 | $0 | $0 | $0 | $29 | $29 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $60 | $0 | $60 |
|  | $0 | $0 | $0 | $60 | $29 | $89 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $290 | $290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 55 | 55 |
|  | $0 | $0 | $0 | $0 | $345 | $345 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(1468) | $0 | $(1468) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1468) | $345 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1123) |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(321) | $(321) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | (53) | (53) |
|  | $0 | $0 | $0 | $0 | $(374) | $(374) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $855 | $0 | $855 |
|  | $0 | $0 | $0 | $855 | $(374) | $481 |

---

34 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15445 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15445 |
| &nbsp;&nbsp; Industrials | 0 | 6354 | 0 | 6354 |
| &nbsp;&nbsp; Utilities | 0 | 6954 | 0 | 6954 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; Florida | 0 | 101 | 0 | 101 |
| &nbsp;&nbsp; New York | 0 | 110 | 0 | 110 |
|  U.S. Government Agencies | 0 | 1592 | 0 | 1592 |
|  U.S. Treasury Obligations | 0 | 308 | 0 | 308 |
|  Non-Agency Mortgage-Backed Securities | 0 | 446 | 0 | 446 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 25 | 0 | 25 |
| &nbsp;&nbsp; Other ABS | 0 | 784 | 0 | 784 |
|  Sovereign Issues | 0 | 4916 | 0 | 4916 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 5277 | 0 | 5277 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42312 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42312 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |  |  |
|  Exchange-traded or centrally cleared | $7 | $42 | $0 | $49 |
|  Over the counter | 0 | 601 | 0 | 601 |
|  | $7 | $643 | $0 | $650 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (26) | (3) | 0 | (29) |
|  Over the counter | 0 | (60) | 0 | (60) |
|  | $(26) | $(63) | $0 | $(89) |
|  Total Financial Derivative Instruments | $(19) | $580 | $0 | $561 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42892 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42873 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **35** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 154.4% | INVESTMENTS IN SECURITIES 154.4% | INVESTMENTS IN SECURITIES 154.4% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 1.5% | LOAN PARTICIPATIONS AND ASSIGNMENTS 1.5% | LOAN PARTICIPATIONS AND ASSIGNMENTS 1.5% |
|  American Airlines, Inc. | American Airlines, Inc. | American Airlines, Inc. |
|  5.918% (TSFR3M + 2.250%) due 04/20/2028 ~ | 3871 | 3842 |
|  FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC |
|  6.610% (EUR003M + 2.950%) due 05/26/2028 «~ | 600 | 600 |
|  Ineos U.S. Finance LLC | Ineos U.S. Finance LLC | Ineos U.S. Finance LLC |
|  6.918% (TSFR1M + 3.250%) due 02/18/2030 ~ | 3781 | 3315 |
|  IRB Holding Corp. | IRB Holding Corp. | IRB Holding Corp. |
|  6.176% (TSFR1M + 2.500%) due 12/16/2030 ~ | 6137 | 6130 |
|  LifePoint Health, Inc. | LifePoint Health, Inc. | LifePoint Health, Inc. |
|  7.152% (TSFR3M + 3.500%) due 05/19/2031 ~ | 2463 | 2464 |
|  7.422% (TSFR3M + 3.750%) due 05/19/2031 ~ | 5177 | 5184 |
|  MI Windows & Doors LLC | MI Windows & Doors LLC | MI Windows & Doors LLC |
|  6.418% (TSFR1M + 2.750%) due 03/28/2031 ~ | 786 | 727 |
|  Panama Government International Bonds | Panama Government International Bonds | Panama Government International Bonds |
|  3.886% (EUR006M + 1.750%) due 03/05/2027 «~ | 1900 | 2198 |
|  Project Flash | Project Flash | Project Flash |
|  0.625% - 6.181% (TSFR1M + 2.500%) due 01/09/2028 «~µ | 1000 | 993 |
|  Quikrete Holdings, Inc. | Quikrete Holdings, Inc. | Quikrete Holdings, Inc. |
|  5.918% (TSFR1M + 2.250%) due 02/10/2032 ~ | 1188 | 1187 |
|  SkyMiles IP Ltd. | SkyMiles IP Ltd. | SkyMiles IP Ltd. |
|  5.168% (TSFR3M + 1.500%) due 10/20/2028 ~ | 275 | 277 |
|  Spa Holdings 3 OYJ | Spa Holdings 3 OYJ | Spa Holdings 3 OYJ |
|  7.961% (TSFR3M + 4.000%) due 02/04/2028 ~ | 1621 | 1608 |
|  Stepstone Group Midco 2 GmbH | Stepstone Group Midco 2 GmbH | Stepstone Group Midco 2 GmbH |
|  6.599% (EUR006M + 4.500%) due 04/26/2032 ~ | 4700 | 4772 |
|  Telecom Serbia | Telecom Serbia | Telecom Serbia |
|  3.522% (EUR006M + 1.350%) due 06/11/2029 «~ | 6000 | 6923 |
|  Total Loan Participations and Assignments (Cost $39,707) | Total Loan Participations and Assignments (Cost $39,707) | 40220 |
| CORPORATE BONDS & NOTES 20.4% | CORPORATE BONDS & NOTES 20.4% | CORPORATE BONDS & NOTES 20.4% |
| BANKING & FINANCE 11.1% | BANKING & FINANCE 11.1% | BANKING & FINANCE 11.1% |
|  Aircastle Ltd./Aircastle Ireland DAC | Aircastle Ltd./Aircastle Ireland DAC | Aircastle Ltd./Aircastle Ireland DAC |
|  5.750% due 10/01/2031 | 1900 | 1946 |
|  Alamo Re Ltd. | Alamo Re Ltd. | Alamo Re Ltd. |
|  12.590% (FHMMUSTF + 9.080%) due 06/07/2026 ~ | 750 | 760 |
|  15.390% (FHMMUSTF + 11.880%) due 06/08/2026 ~ | 1800 | 1835 |
|  American Assets Trust LP | American Assets Trust LP | American Assets Trust LP |
|  3.375% due 02/01/2031 | 2100 | 1894 |
|  American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. |
|  4.390% due 08/13/2027 •  | 6100 | 6096 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  1.875% due 10/15/2030 | 1700 | 1501 |
|  2.100% due 06/15/2030 | 700 | 630 |
|  3.650% due 03/15/2027 | 4500 | 4469 |
|  4.050% due 03/15/2032 | 700 | 671 |
|  Armor RE II Ltd. | Armor RE II Ltd. | Armor RE II Ltd. |
|  13.760% (BRMMUSDF + 10.200%) due 05/07/2031 ~ | 500 | 526 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  3.024% (EUR003M + 1.000%) due 02/23/2027 ~ | 3200 | 3703 |
|  Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC |
|  5.375% due 07/15/2029 | 2000 | 2033 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Avolon Holdings Funding Ltd. |  |  |
|  2.528% due 11/18/2027 | 4 | 4 |
|  4.950% due 01/15/2028 | 3600 | 3613 |
|  4.950% due 10/15/2032 | 800 | 779 |
|  5.150% due 01/15/2030 | 2000 | 2008 |
|  Banca Monte dei Paschi di Siena SpA | Banca Monte dei Paschi di Siena SpA | Banca Monte dei Paschi di Siena SpA |
|  7.708% due 01/18/2028 •  | 2500 | 3068 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  4.175% due 03/24/2028 •  | 5000 | 4979 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  5.202% due 04/25/2029 •  | 1700 | 1724 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  2.894% due 11/24/2032 •  | 4400 | 3933 |
|  4.337% due 01/10/2028 | 800 | 797 |
|  4.836% due 05/09/2028 | 350 | 350 |
|  4.972% due 05/16/2029 •  | 1900 | 1912 |
|  7.385% due 11/02/2028 •  | 1000 | 1042 |
|  7.437% due 11/02/2033 •  | 1800 | 2013 |
|  Bayou Re Ltd. | Bayou Re Ltd. | Bayou Re Ltd. |
|  11.872% (BNMMDTSC + 8.332%) due 04/30/2031 ~ | 500 | 520 |
|  15.950% (JMMMUSTF + 12.390%) due 05/26/2030 ~ | 365 | 371 |
|  Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC |
|  3.125% due 06/10/2031 | 1900 | 1640 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  1.904% due 09/30/2028 •  | 3200 | 3077 |
|  2.159% due 09/15/2029 •  | 6400 | 6031 |
|  3.052% due 01/13/2031 •  | 4100 | 3850 |
|  BPCE SA | BPCE SA | BPCE SA |
|  6.612% due 10/19/2027 •  | 7800 | 7887 |
|  Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. |
|  10.410% (FHMMUSTF + 6.900%) due 03/13/2032 ~ | 1400 | 1461 |
|  12.239% (GSMMUSTF + 8.702%) due 04/05/2027 ~ | 2300 | 2336 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  4.722% due 01/30/2032 •  | 1300 | 1281 |
|  CI Financial Corp. | CI Financial Corp. | CI Financial Corp. |
|  4.625% due 12/12/2031 | 1000 | 1158 |
|  Citrus Re Ltd. | Citrus Re Ltd. | Citrus Re Ltd. |
|  8.922% (T-BILL 3MO + 5.250%) due 06/07/2033 ~ | 250 | 250 |
|  9.910% (T-BILL 3MO + 6.250%) due 06/07/2033 ~ | 300 | 300 |
|  Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |
|  5.500% due 10/05/2026 | 1900 | 1913 |
|  Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA |
|  9.700% due 03/05/2045 | 4300 | 1315 |
|  Credit Suisse AG AT1 Claim | 8700 | 3045 |
|  CTP NV |  |  |
|  0.625% due 09/27/2026 | 1000 | 1143 |
|  Deutsche Bank AG |  |  |
|  3.547% due 09/18/2031 •  | 5600 | 5266 |
|  3.729% due 01/14/2032 •  | 1700 | 1580 |
|  5.882% due 07/08/2031 •  | 1700 | 1734 |
|  Equinix, Inc. |  |  |
|  0.250% due 03/15/2027 | 1400 | 1577 |
|  3.900% due 04/15/2032 | 3000 | 2834 |
|  Everglades Re II Ltd. |  |  |
|  14.041% (GSMMUSTI + 10.500%) due 05/13/2027 ~ | 400 | 405 |
|  15.041% (GSMMUSTI + 11.500%) due 05/13/2031 ~ | 400 | 406 |
|  16.291% (GSMMUSTI + 12.750%) due 05/13/2027 ~ | 400 | 407 |
|  Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP |
|  2.350% due 03/15/2032 | 1300 | 1116 |
|  Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. |
|  4.625% due 04/29/2030 | 2900 | 2890 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  5.420% due 04/09/2031 | 6700 | 6582 |
|  5.850% due 05/17/2027 | 400 | 403 |
|  5.918% due 03/20/2028 | 1600 | 1621 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Gateway Re Ltd. |  |  |  |  |
|  5.560% (BRMMUSDF + 2.000%) due 07/06/2029 ~ | $— | 250 | $— | 250 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  2.640% due 02/24/2028 •  |  | 4100 |  | 4034 |
|  3.615% due 03/15/2028 •  |  | 4600 |  | 4564 |
|  3.691% due 06/05/2028 •  |  | 16100 |  | 15960 |
|  Greengrove RE Ltd. |  |  |  |  |
|  11.290% (BNMMDTSC + 7.750%) due 04/08/2032 ~ |  | 600 |  | 622 |
|  GSG Bidco Ltd. |  |  |  |  |
|  4.700% due 06/15/2031 |  | 2600 |  | 2981 |
|  Hardwood Funding LLC |  |  |  |  |
|  4.840% due 06/07/2028 «(l) | $— | 1300 |  | 1302 |
|  5.160% due 06/07/2032 «(l) |  | 2400 |  | 2415 |
|  Hardwood Funding LLC |  |  |  |  |
|  5.330% due 06/07/2035 «(j) |  | 600 |  | 606 |
|  Host Hotels & Resorts LP |  |  |  |  |
|  5.500% due 04/15/2035 |  | 2000 |  | 1985 |
|  HSBC Holdings PLC |  |  |  |  |
|  5.875% due 09/28/2026 •(j)(k) |  | 6200 |  | 8191 |
|  ICBC Standard Bank PLC |  |  |  |  |
|  20.000% due 12/13/2029 « |  | 14960000 |  | 1227 |
|  ING Groep NV |  |  |  |  |
|  4.017% due 03/28/2028 •  | $— | 3500 |  | 3484 |
|  Intesa Sanpaolo SpA |  |  |  |  |
|  7.750% due 01/11/2027 •(j)(k) |  | 1700 |  | 2008 |
|  JPMorgan Chase & Co. |  |  |  |  |
|  2.947% due 02/24/2028 •  | $— | 8200 |  | 8098 |
|  2.963% due 01/25/2033 •  |  | 9200 |  | 8350 |
|  4.005% due 04/23/2029 •  |  | 500 |  | 496 |
|  JPMorgan Chase Bank NA |  |  |  |  |
|  5.110% due 12/08/2026 |  | 1050 |  | 1056 |
|  KKR Group Finance Co. XII LLC | KKR Group Finance Co. XII LLC | KKR Group Finance Co. XII LLC | KKR Group Finance Co. XII LLC | KKR Group Finance Co. XII LLC |
|  4.850% due 05/17/2032 |  | 1000 |  | 984 |
|  Kona Spc Ltd. |  |  |  |  |
|  5.718% due 09/15/2026 «•  |  | 1600 |  | 1862 |
|  Lazard Group LLC |  |  |  |  |
|  6.000% due 03/15/2031 | $— | 1900 |  | 1975 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  3.750% due 03/18/2028 •  |  | 1900 |  | 1888 |
|  Locke Tavern Re Ltd. |  |  |  |  |
|  4.060% (JMMMUSTF + 3.250%) due 04/11/2033 ~ |  | 400 |  | 400 |
|  4.060% (JMMMUSTF + 4.250%) due 04/11/2033 ~ |  | 300 |  | 300 |
|  Longleaf Pine Re Ltd. |  |  |  |  |
|  21.473% (GSMMUSTI + 17.932%) due 05/27/2031 ~ |  | 600 |  | 635 |
|  Mayflower Re Ltd. |  |  |  |  |
|  10.023% (FHMMUSTF + 6.513%) due 07/08/2030 ~ |  | 300 |  | 304 |
|  Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. |
|  2.559% due 02/25/2030 |  | 1000 |  | 926 |
|  Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. |
|  3.261% due 05/22/2030 •  |  | 3800 |  | 3659 |
|  Morgan Stanley |  |  |  |  |
|  4.431% due 01/23/2030 •  |  | 1400 |  | 1394 |
|  4.708% due 03/12/2032 •  |  | 4300 |  | 4272 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  4.302% due 03/08/2029 •  |  | 13500 |  | 13415 |
|  Nature Coast Re Ltd. |  |  |  |  |
|  11.661% (T-BILL 3MO + 8.000%) due 02/26/2030 ~ |  | 600 |  | 598 |
|  13.291% (GSMMUSTI + 9.750%) due 04/10/2033 ~ |  | 800 |  | 828 |
|  NatWest Group PLC |  |  |  |  |
|  4.892% due 05/18/2029 •  |  | 2200 |  | 2216 |
|  5.125% due 05/12/2027 •(j)(k) |  | 1700 |  | 2216 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |
|  1.850% due 09/16/2026 | $— | 1100 |  | 1082 |
|  Palm RE Ltd. |  |  |  |  |
|  11.290% (BNMMDTSC + 7.750%) due 06/07/2032 ~ |  | 400 |  | 412 |

---

---

| | | |
|:---|:---|:---|
| **36** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Panama Infrastructure Receivable Purchaser PLC | Panama Infrastructure Receivable Purchaser PLC | Panama Infrastructure Receivable Purchaser PLC | Panama Infrastructure Receivable Purchaser PLC |
|  0.000% due 04/05/2032 (g) | $| 4800 | 3759 |
|  Polestar Re Ltd. |  |  |  |
|  14.150% (BRMMUSDF + 10.590%) due 01/07/2028 ~ |  | 500 | 524 |
|  16.810% (BRMMUSDF + 13.250%) due 01/07/2027 ~ |  | 2300 | 2378 |
|  Purple Re Ltd. |  |  |  |
|  12.686% (JMMMUSTF + 9.126%) due 06/07/2027 ~ |  | 700 | 722 |
|  14.140% (JMMMUSTF + 10.580%) due 06/05/2026 ~ |  | 400 | 407 |
|  RLJ Lodging Trust LP |  |  |  |
|  4.000% due 09/15/2029 (n) |  | 1100 | 1031 |
|  Sanders Re III Ltd. |  |  |  |
|  11.280% (BRMMUSDF + 7.720%) due 06/05/2029 ~ |  | 1200 | 1214 |
|  Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. |
|  3.244% due 10/05/2026 |  | 2400 | 2387 |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  3.823% due 11/03/2028 •  |  | 650 | 642 |
|  4.320% due 09/22/2029 •  |  | 1500 | 1486 |
|  Sirius Real Estate Ltd. |  |  |  |
|  1.125% due 06/22/2026 | EUR | 1900 | 2186 |
|  SMBC Aviation Capital Finance DAC | SMBC Aviation Capital Finance DAC | SMBC Aviation Capital Finance DAC | SMBC Aviation Capital Finance DAC |
|  2.300% due 06/15/2028 | $| 2000 | 1904 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  2.222% due 09/17/2031 |  | 4800 | 4205 |
|  Takeoff Merger Sub, Inc. |  |  |  |
|  4.850% due 03/24/2031 |  | 3100 | 3062 |
|  Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm |
|  9.750% due 10/10/2027 | GBP | 65 | 82 |
|  Torrey Pines Re Ltd. |  |  |  |
|  9.596% (JMMMUSTF + 6.036%) due 06/07/2027 ~ | $| 600 | 620 |
|  10.666% (JMMMUSTF + 7.106%) due 06/07/2027 ~ |  | 400 | 415 |
|  Tremont Re Ltd. |  |  |  |
|  7.661% (T-BILL 1MO + 4.000%) due 03/22/2033 ~ |  | 250 | 250 |
|  UBS AG |  |  |  |
|  4.632% due 02/16/2032 •  |  | 2900 | 2891 |
|  UBS Group AG |  |  |  |
|  3.091% due 05/14/2032 •  |  | 3250 | 2982 |
|  4.194% due 04/01/2031 •  |  | 3000 | 2936 |
|  4.375% due 02/10/2031 •(j)(k) |  | 400 | 354 |
|  6.327% due 12/22/2027 •  |  | 5700 | 5776 |
|  Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) | Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) | Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) | Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) |
|  15.000% due 12/31/2044 ^(c)(d) |  | 2431 | 49 |
|  Ursa Re Ltd. |  |  |  |
|  11.041% (GSMMUSTI + 7.500%) due 02/22/2028 ~ |  | 1400 | 1432 |
|  Veraison Re Ltd. |  |  |  |
|  8.541% (GSMMUSTI + 5.000%) due 03/08/2033 ~ |  | 300 | 305 |
|  Vitality Re XVI Ltd. |  |  |  |
|  5.280% (MSMMUSTF + 1.750%) due 01/08/2030 ~ |  | 300 | 298 |
|  7.280% (MSMMUSTF + 3.750%) due 01/08/2030 ~ |  | 300 | 299 |
|  Vitality Re XVII Ltd. |  |  |  |
|  5.541% (GSMMUSTI + 2.000%) due 01/08/2031 ~ |  | 600 | 600 |
|  5.941% (GSMMUSTI + 2.400%) due 01/08/2031 ~ |  | 250 | 250 |
|  7.541% (GSMMUSTI + 4.000%) due 01/08/2031 ~ |  | 250 | 250 |
|  Wells Fargo & Co. |  |  |  |
|  3.526% due 03/24/2028 •  |  | 9700 | 9622 |
|  3.584% due 05/22/2028 •  |  | 4950 | 4904 |
|  Weyerhaeuser Co. |  |  |  |
|  4.000% due 04/15/2030 |  | 5100 | 4969 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Winston RE Ltd. | Winston RE Ltd. | Winston RE Ltd. |
|  10.040% (BNMMDTSC + 6.500%) due 02/21/2028 ~ | 250 | 256 |
|  |  | 289127 |
| INDUSTRIALS 6.9% | INDUSTRIALS 6.9% | INDUSTRIALS 6.9% |
|  Air Canada |  |  |
|  4.625% due 08/15/2029 | 800 | 569 |
|  Altice France Lux 3/Altice Holdings 1 | Altice France Lux 3/Altice Holdings 1 | Altice France Lux 3/Altice Holdings 1 |
|  10.000% due 01/15/2033 (n) | 89 | 81 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.150% due 08/15/2033 | 337 | 315 |
|  3.350% due 04/15/2031 | 1307 | 1265 |
|  3.375% due 11/01/2028 | 190 | 187 |
|  3.575% due 07/15/2029 | 439 | 433 |
|  3.650% due 02/15/2029 | 568 | 553 |
|  3.700% due 04/01/2028 | 966 | 963 |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd. | American Airlines, Inc./AAdvantage Loyalty IP Ltd. | American Airlines, Inc./AAdvantage Loyalty IP Ltd. |
|  5.500% due 04/20/2026 | 158 | 159 |
|  Ashtead Capital, Inc. |  |  |
|  5.800% due 04/15/2034 | 1000 | 1020 |
|  5.950% due 10/15/2033 | 4600 | 4743 |
|  Bayer U.S. Finance II LLC |  |  |
|  4.375% due 12/15/2028 | 600 | 594 |
|  Bayer U.S. Finance LLC |  |  |
|  6.375% due 11/21/2030 | 1900 | 1999 |
|  BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC |
|  4.750% due 11/30/2028 | 6000 | 6553 |
|  Beignet Investor LLC |  |  |
|  6.581% due 05/30/2049 | 26500 | 27267 |
|  Broadcom, Inc. |  |  |
|  4.000% due 04/15/2029 | 3100 | 3070 |
|  4.150% due 04/15/2032 | 3100 | 3001 |
|  Centene Corp. |  |  |
|  4.250% due 12/15/2027 | 923 | 907 |
|  Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC |
|  5.125% due 06/30/2027 | 9500 | 9551 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  4.350% due 05/09/2027 | 3300 | 3297 |
|  4.750% due 05/09/2032 | 300 | 298 |
|  Eni SpA |  |  |
|  5.500% due 05/15/2034 (n) | 1900 | 1947 |
|  Expand Energy Corp. |  |  |
|  5.875% due 02/01/2029 | 300 | 300 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 | 6600 | 6490 |
|  Flora Food Management BV | Flora Food Management BV | Flora Food Management BV |
|  6.875% due 07/02/2029 | 4500 | 4888 |
|  Frontier Communications Holdings LLC | Frontier Communications Holdings LLC | Frontier Communications Holdings LLC |
|  8.750% due 05/15/2030 | 4000 | 4107 |
|  Global Payments, Inc. |  |  |
|  2.900% due 11/15/2031 | 500 | 439 |
|  GSG Bidco Ltd. |  |  |
|  5.375% due 06/15/2036 | 2700 | 3099 |
|  Haleon U.S. Capital LLC |  |  |
|  3.375% due 03/24/2027 | 3000 | 2972 |
|  Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. |
|  3.750% due 05/01/2029 | 6500 | 6225 |
|  Hyundai Capital America |  |  |
|  4.875% due 06/23/2027 | 5500 | 5524 |
|  INEOS Styrolution Ludwigshafen GmbH | INEOS Styrolution Ludwigshafen GmbH | INEOS Styrolution Ludwigshafen GmbH |
|  2.250% due 01/16/2027 (n) | 2450 | 2774 |
|  Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA |
|  6.750% due 10/15/2031 | 2955 | 3272 |
|  JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust |
|  4.000% due 05/15/2034 | 336 | 319 |
|  Las Vegas Sands Corp. |  |  |
|  5.625% due 06/15/2028 | 4600 | 4661 |
|  6.200% due 08/15/2034 | 1900 | 1948 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  2.750% due 10/15/2033 | 1700 | 1471 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  MSCI, Inc. |  |  |
|  3.250% due 08/15/2033 | 500 | 436 |
|  Nissan Motor Co. Ltd. |  |  |
|  4.345% due 09/17/2027 | 5200 | 5062 |
|  NTT Finance Corp. |  |  |
|  4.567% due 07/16/2027 | 1400 | 1404 |
|  4.620% due 07/16/2028 | 1300 | 1305 |
|  NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. |
|  4.400% due 06/01/2027 | 1800 | 1800 |
|  Petroleos Mexicanos |  |  |
|  5.950% due 01/28/2031 | 2200 | 2105 |
|  10.000% due 02/07/2033 | 2300 | 2622 |
|  Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. |
|  4.750% due 05/15/2033 | 5500 | 5312 |
|  Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC |
|  5.000% due 03/15/2027 | 1423 | 1426 |
|  Sands China Ltd. |  |  |
|  5.400% due 08/08/2028 (n) | 1500 | 1512 |
|  T-Mobile USA, Inc. |  |  |
|  2.250% due 11/15/2031 | 1400 | 1231 |
|  3.875% due 04/15/2030 | 1500 | 1461 |
|  TD SYNNEX Corp. |  |  |
|  2.375% due 08/09/2028 | 1300 | 1235 |
|  Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC |
|  9.750% due 10/10/2027 | 280 | 405 |
|  Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) | Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) | Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) |
|  11.000% due 12/31/2028 (c) | 2990 | 90 |
|  Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) | Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) | Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) |
|  13.500% due 12/31/2027 ^(c)(d) | 1374 | 82 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 | 366 | 337 |
|  5.875% due 04/15/2029 (n) | 1661 | 1689 |
|  Venture Global LNG, Inc. |  |  |
|  8.125% due 06/01/2028 | 370 | 379 |
|  8.375% due 06/01/2031 | 500 | 520 |
|  Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC |
|  7.500% due 05/01/2033 | 3400 | 3739 |
|  7.750% due 05/01/2035 | 3400 | 3813 |
|  Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC |
|  4.900% due 08/01/2030 | 1200 | 1201 |
|  5.700% due 08/01/2035 | 2450 | 2471 |
|  Virgin Media Secured Finance PLC | Virgin Media Secured Finance PLC | Virgin Media Secured Finance PLC |
|  5.250% due 05/15/2029 | 3700 | 4691 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  4.750% due 07/15/2031 | 1500 | 1292 |
|  7.750% due 04/15/2032 | 3300 | 3167 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.950% due 03/25/2027 | 3300 | 3314 |
|  Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. |
|  5.250% due 05/15/2027 | 600 | 598 |
|  Yorkshire Water Finance PLC | Yorkshire Water Finance PLC | Yorkshire Water Finance PLC |
|  5.250% due 04/28/2030 | 4900 | 6395 |
|  Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. |
|  1.164% due 11/15/2027 | 1700 | 1910 |
|  |  | 180265 |
| UTILITIES 2.4% | UTILITIES 2.4% | UTILITIES 2.4% |
|  Altice Holdings 1 SARL |  |  |
|  0.000% due 12/31/2099 « | 2 | 30 |
|  Anglian Water Osprey Financing PLC | Anglian Water Osprey Financing PLC | Anglian Water Osprey Financing PLC |
|  6.750% due 08/27/2031 | 3325 | 4448 |
|  AT&T, Inc. |  |  |
|  4.300% due 02/15/2030 | 105 | 104 |
|  Boston Gas Co. |  |  |
|  3.757% due 03/16/2032 | 1900 | 1783 |
|  BP Capital Markets BV |  |  |
|  3.360% due 09/12/2031 | 4100 | 4677 |
|  DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC |
|  2.375% due 03/31/2034 | 4950 | 4878 |
|  Emera U.S. Finance LLC |  |  |
|  4.500% due 04/01/2029 | 1200 | 1199 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **37** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  EPH Financing International AS | EPH Financing International AS | EPH Financing International AS |
|  6.651% due 11/13/2028 | 2850 | 3487 |
|  Georgia Power Co. |  |  |
|  4.700% due 05/15/2032 | 6900 | 6907 |
|  ONEOK, Inc. |  |  |
|  6.050% due 09/01/2033 | 1800 | 1888 |
|  Pacific Gas & Electric Co. |  |  |
|  3.000% due 06/15/2028 | 2600 | 2517 |
|  3.250% due 06/01/2031 | 2800 | 2584 |
|  3.300% due 12/01/2027 | 1000 | 980 |
|  3.950% due 12/01/2047 | 600 | 437 |
|  4.200% due 03/01/2029 | 5500 | 5436 |
|  4.300% due 03/15/2045 | 700 | 547 |
|  4.400% due 03/01/2032 | 1100 | 1061 |
|  4.450% due 04/15/2042 | 400 | 330 |
|  4.500% due 07/01/2040 | 200 | 171 |
|  4.550% due 07/01/2030 | 1000 | 987 |
|  PacifiCorp |  |  |
|  4.650% due 04/15/2029 | 1400 | 1400 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  4.700% due 06/01/2027 | 3100 | 3103 |
|  Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
|  2.950% due 04/15/2027 | 5900 | 5824 |
|  SW Finance I PLC |  |  |
|  2.375% due 05/28/2028 | 2500 | 3079 |
|  5.750% due 11/19/2030 | 2500 | 3244 |
|  Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
|  3.996% due 06/15/2056 •  | 650 | 728 |
|  5.742% due 06/15/2056 •  | 650 | 832 |
|  |  | 62661 |
|  Total Corporate Bonds & Notes (Cost $536,503) | Total Corporate Bonds & Notes (Cost $536,503) | 532053 |
| MUNICIPAL BONDS & NOTES 0.3% | MUNICIPAL BONDS & NOTES 0.3% | MUNICIPAL BONDS & NOTES 0.3% |
| CALIFORNIA 0.1% | CALIFORNIA 0.1% | CALIFORNIA 0.1% |
|  Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 |
|  3.487% due 06/01/2036 | 2500 | 2145 |
| ILLINOIS 0.0% | ILLINOIS 0.0% | ILLINOIS 0.0% |
|  Illinois State General Obligation Bonds, (BABs), Series 2010 | Illinois State General Obligation Bonds, (BABs), Series 2010 | Illinois State General Obligation Bonds, (BABs), Series 2010 |
|  7.350% due 07/01/2035 | 786 | 845 |
| WEST VIRGINIA 0.2% | WEST VIRGINIA 0.2% | WEST VIRGINIA 0.2% |
|  Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007 |
|  0.000% due 06/01/2047 (g) | 34905 | 3243 |
|  Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 |
|  3.401% due 06/01/2034 | 400 | 350 |
|  3.501% due 06/01/2035 | 400 | 345 |
|  Tobacco Settlement Finance Authority, West Virginia Revenue Notes, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Notes, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Notes, Series 2020 |
|  1.820% due 06/01/2026 | 200 | 199 |
|  |  | 4137 |
|  Total Municipal Bonds & Notes (Cost $9,323) | Total Municipal Bonds & Notes (Cost $9,323) | 7127 |
| U.S. GOVERNMENT AGENCIES 68.3% | U.S. GOVERNMENT AGENCIES 68.3% | U.S. GOVERNMENT AGENCIES 68.3% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  4.000% due 07/01/2047 | 53 | 51 |
|  5.848% due 12/01/2032 •  | 1 | 1 |
|  6.000% due 04/01/2055 | 20130 | 20912 |
|  6.090% due 09/01/2035 •  | 1 | 1 |
|  6.481% due 08/01/2035 •  | 1 | 1 |
|  6.516% due 03/01/2036 •  | 5 | 6 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  1.500% due 02/25/2036 (a) | 10963 | 429 |
|  1.731% due 03/15/2050 ~(a) | 16464 | 722 |
|  2.000% due 01/25/2051 - 04/25/2051 (a) | 16215 | 1713 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.224% due 04/25/2048 - 11/25/2049 •(a) | $— | 16358 | $— | 2056 |
|  2.500% due 03/25/2051 (a) |  | 17561 |  | 2780 |
|  3.000% due 10/25/2049 - 11/25/2051 (a) |  | 20562 |  | 3067 |
|  3.500% due 03/25/2050 - 07/25/2051 (a) |  | 15886 |  | 2914 |
|  4.137% due 12/15/2029 •  |  | 8 |  | 8 |
|  4.146% due 08/15/2040 •  |  | 341 |  | 335 |
|  4.500% due 03/15/2032 (a) |  | 413 |  | 30 |
|  5.000% due 02/15/2048 - 05/25/2050 (a) |  | 4619 |  | 960 |
|  5.500% due 09/15/2039 |  | 14 |  | 14 |
|  6.000% due 05/15/2035 |  | 30 |  | 31 |
|  7.500% due 08/15/2030 |  | 2 |  | 2 |
|  Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS |
|  2.000% due 06/25/2052 (a) |  | 17310 |  | 2070 |
|  2.500% due 01/25/2052 (a) |  | 13946 |  | 2036 |
|  3.000% due 12/15/2047 - 04/25/2053 (a) |  | 29818 |  | 4847 |
|  3.500% due 06/15/2049 (a) |  | 2347 |  | 428 |
|  4.000% due 06/15/2049 (a) |  | 4112 |  | 739 |
|  5.000% due 06/25/2053 - 08/25/2055 (a) |  | 22584 |  | 4868 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  4.270% due 07/25/2033 ~ |  | 1 |  | 1 |
|  5.259% due 07/25/2044 •  |  | 505 |  | 493 |
|  6.500% due 10/25/2043 |  | 29 |  | 29 |
|  6.555% due 09/25/2029 ~ |  | 11 |  | 11 |
|  7.000% due 07/25/2043 |  | 20 |  | 21 |
|  7.500% due 07/25/2043 - 03/25/2044 |  | 30 |  | 32 |
|  8.610% due 12/25/2030 þ |  | 57 |  | 53 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  3.000% due 03/01/2050 |  | 58153 |  | 52038 |
|  3.500% due 10/01/2040 - 06/01/2048 |  | 5291 |  | 4957 |
|  4.000% due 05/01/2047 - 04/01/2048 |  | 7046 |  | 6742 |
|  4.714% due 12/01/2036 •  |  | 1 |  | 1 |
|  5.114% due 08/01/2042 - 10/01/2044 •  |  | 52 |  | 53 |
|  5.675% due 03/01/2036 •  |  | 41 |  | 41 |
|  5.754% due 12/01/2034 •  |  | 4 |  | 4 |
|  5.795% due 12/01/2034 •  |  | 4 |  | 5 |
|  5.800% due 01/01/2036 •  |  | 16 |  | 17 |
|  5.875% due 02/01/2036 •  |  | 20 |  | 20 |
|  6.125% due 08/01/2029 •  |  | 1 |  | 1 |
|  6.159% due 09/01/2031 •  |  | 2 |  | 2 |
|  6.216% due 09/01/2039 •  |  | 6 |  | 6 |
|  6.232% due 11/01/2034 •  |  | 34 |  | 35 |
|  6.251% due 05/01/2036 •  |  | 17 |  | 17 |
|  6.325% due 09/01/2034 •  |  | 2 |  | 2 |
|  6.500% due 06/01/2036 - 02/01/2038 |  | 434 |  | 458 |
|  Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust |
|  6.000% due 02/25/2044 |  | 6 |  | 6 |
|  Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS |
|  3.000% due 03/25/2050 (a) |  | 6656 |  | 1178 |
|  5.000% due 08/25/2053 - 11/25/2053 (a) |  | 20779 |  | 4457 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  1.993% due 06/25/2050 ~(a) |  | 5214 |  | 373 |
|  2.000% due 07/25/2052 (a) |  | 9671 |  | 1217 |
|  2.190% due 07/25/2043 •(a) |  | 4973 |  | 634 |
|  2.324% due 06/25/2047 •(a) |  | 286 |  | 36 |
|  2.424% due 06/25/2048 •(a) |  | 5206 |  | 607 |
|  2.724% due 01/25/2042 •(a) |  | 3276 |  | 449 |
|  3.000% due 11/25/2051 - 01/25/2052 (a) |  | 13592 |  | 2301 |
|  3.500% due 11/25/2051 (a) |  | 26726 |  | 4748 |
|  3.842% due 12/25/2036 •  |  | 12 |  | 12 |
|  3.902% due 03/25/2034 •  |  | 3 |  | 3 |
|  3.912% due 03/25/2036 •  |  | 5 |  | 5 |
|  3.932% due 08/25/2034 •  |  | 1 |  | 1 |
|  4.126% due 03/25/2037 •  |  | 30 |  | 29 |
|  4.336% due 04/18/2032 •  |  | 6 |  | 7 |
|  4.500% due 09/25/2053 (a) |  | 9696 |  | 2219 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.000% due 01/25/2035 | $— | 1 | 1 |
|  5.000% due 06/25/2041 (a) |  | 333 | 41 |
|  6.000% due 01/25/2033 - 04/25/2043 |  | 24 | 25 |
|  6.125% due 05/25/2035 ~ |  | 2 | 3 |
|  7.500% due 06/25/2032 |  | 7 | 7 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  5.219% due 02/25/2033 þ |  | 30 | 31 |
|  6.000% due 07/25/2044 |  | 23 | 24 |
|  6.089% due 10/25/2031 þ |  | 1 | 1 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  1.584% due 12/25/2042 ~(a) |  | 5809 | 322 |
|  4.126% due 05/25/2042 •  |  | 1 | 1 |
|  5.750% due 08/25/2033 |  | 15 | 16 |
|  Federal National Mortgage Association Whole Loan | Federal National Mortgage Association Whole Loan | Federal National Mortgage Association Whole Loan | Federal National Mortgage Association Whole Loan |
|  2.194% due 11/25/2046 ~(a) |  | 2967 | 143 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  5.000% due 03/15/2039 - 05/15/2039 |  | 384 | 392 |
|  5.125% due 10/20/2027 - 10/20/2029 •  |  | 2 | 2 |
|  5.375% due 07/20/2030 •  |  | 3 | 3 |
|  5.500% due 10/15/2034 - 03/15/2035 |  | 24 | 24 |
|  5.625% due 01/20/2027 - 04/20/2030 •  |  | 4 | 4 |
|  6.000% due 06/20/2038 |  | 8 | 8 |
|  8.000% due 03/20/2030 |  | 2 | 2 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  2.260% due 08/20/2049 - 09/20/2049 •(a) |  | 10761 | 1204 |
|  4.090% due 05/20/2037 •  |  | 157 | 155 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  2.500% due 05/01/2056 |  | 4400 | 3784 |
|  5.000% due 04/01/2056 - 05/01/2056 |  | 160400 | 158574 |
|  6.000% due 06/01/2040 - 05/01/2056 |  | 126900 | 128844 |
|  U.S. Small Business Administration | U.S. Small Business Administration | U.S. Small Business Administration | U.S. Small Business Administration |
|  5.600% due 09/01/2028 |  | 15 | 16 |
|  6.220% due 12/01/2028 |  | 17 | 17 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  3.000% due 06/01/2040 |  | 25100 | 22013 |
|  4.000% due 05/01/2056 - 06/01/2056 |  | 116900 | 110184 |
|  4.500% due 06/01/2056 |  | 69800 | 67259 |
|  5.000% due 04/01/2056 - 06/01/2056 |  | 553000 | 544698 |
|  5.500% due 06/01/2056 |  | 60150 | 60288 |
|  6.000% due 06/01/2056 - 07/01/2056 |  | 455900 | 463979 |
|  6.500% due 05/01/2056 - 06/01/2056 |  | 86000 | 88897 |
|  Total U.S. Government Agencies (Cost $1,806,912) | Total U.S. Government Agencies (Cost $1,806,912) | Total U.S. Government Agencies (Cost $1,806,912) | 1785304 |
| U.S. TREASURY OBLIGATIONS 10.6% | U.S. TREASURY OBLIGATIONS 10.6% | U.S. TREASURY OBLIGATIONS 10.6% | U.S. TREASURY OBLIGATIONS 10.6% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  4.750% due 02/15/2056 |  | 100 | 97 |
|  U.S. Treasury Inflation Protected Securities (i) | U.S. Treasury Inflation Protected Securities (i) | U.S. Treasury Inflation Protected Securities (i) | U.S. Treasury Inflation Protected Securities (i) |
|  0.625% due 07/15/2032 (p) |  | 47319 | 44661 |
|  1.125% due 01/15/2033 (p) |  | 50658 | 48808 |
|  1.375% due 07/15/2033 |  | 20560 | 20105 |
|  1.750% due 01/15/2034 (p) |  | 11955 | 11909 |
|  1.875% due 07/15/2034 (r) |  | 40110 | 40322 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  2.500% due 03/31/2027 (p)(r) |  | 6300 | 6227 |
|  4.125% due 02/15/2036 (p)(r) |  | 7290 | 7177 |
|  4.250% due 11/15/2034 (p)(r) | $— | 95900 | 95891 |
|  Total U.S. Treasury Obligations (Cost $271,948) | Total U.S. Treasury Obligations (Cost $271,948) | Total U.S. Treasury Obligations (Cost $271,948) | 275197 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 6.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 6.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 6.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 6.5% |
|  Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust |
|  4.053% due 03/25/2036 •  |  | 175 | 103 |

---

---

| | | |
|:---|:---|:---|
| **38** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.760% due 10/25/2035 ~ | $— | 54 | $— | 51 |
|  4.898% due 09/25/2035 ~ |  | 1 |  | 1 |
|  American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust |
|  3.983% due 05/25/2046 •  |  | 192 |  | 173 |
|  4.779% due 11/25/2046 •  |  | 8101 |  | 1902 |
|  4.829% due 10/25/2046 •  |  | 90 |  | 75 |
|  BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust |
|  2.847% due 04/20/2042 |  | 5170 |  | 4250 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  3.396% due 10/20/2046 ~ |  | 574 |  | 502 |
|  4.110% due 02/20/2047 •  |  | 611 |  | 587 |
|  4.120% due 06/20/2037 ~ |  | 39 |  | 34 |
|  4.170% due 10/20/2036 •  |  | 210 |  | 165 |
|  4.213% due 04/25/2037 •  |  | 174 |  | 145 |
|  4.350% due 06/20/2047 •  |  | 528 |  | 442 |
|  4.593% due 05/25/2037 •  |  | 118 |  | 107 |
|  5.500% due 09/25/2034 |  | 287 |  | 278 |
|  5.806% due 03/25/2037 ~ |  | 3 |  | 4 |
|  5.878% due 10/25/2036 ~ |  | 113 |  | 102 |
|  6.000% due 08/25/2037 |  | 327 |  | 263 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  5.281% due 02/25/2034 ~ |  | 14 |  | 14 |
|  6.429% due 05/25/2034 ~ |  | 29 |  | 28 |
|  BCAP LLC Trust |  |  |  |  |
|  0.000% due 02/26/2036 ~ |  | 223 |  | 0 |
|  5.250% due 02/26/2036 ~ |  | 1308 |  | 478 |
|  5.250% due 06/26/2037 |  | 203 |  | 181 |
|  28.364% due 04/26/2037 ~ |  | 129 |  | 60 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.113% due 08/25/2036 •  |  | 733 |  | 669 |
|  4.126% due 11/25/2036 ~ |  | 313 |  | 132 |
|  4.133% due 08/25/2036 •  |  | 307 |  | 279 |
|  4.135% due 03/25/2036 ~ |  | 99 |  | 81 |
|  4.193% due 02/25/2034 •  |  | 23 |  | 22 |
|  4.233% due 04/25/2036 •  |  | 793 |  | 724 |
|  4.434% due 03/25/2036 ~ |  | 599 |  | 324 |
|  4.544% due 08/25/2036 ~ |  | 8 |  | 5 |
|  4.567% due 11/25/2035 ~ |  | 50 |  | 38 |
|  5.042% due 01/25/2036 ~ |  | 309 |  | 297 |
|  5.158% due 05/25/2035 ~ |  | 514 |  | 498 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  0.000% due 10/25/2034 ~ |  | 11 |  | 9 |
|  4.000% due 05/25/2034 ~ |  | 3 |  | 3 |
|  4.865% due 08/25/2035 ~ |  | 17 |  | 16 |
|  5.703% due 11/25/2034 ~ |  | 1 |  | 1 |
|  5.959% due 04/25/2034 ~ |  | 14 |  | 14 |
|  6.183% due 11/25/2034 ~ |  | 23 |  | 22 |
|  6.185% due 01/25/2034 ~ |  | 81 |  | 78 |
|  6.516% due 05/25/2034 ~ |  | 6 |  | 6 |
|  Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust |
|  4.173% due 01/25/2037 •  |  | 973 |  | 928 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  6.152% due 06/25/2035 ~ |  | 9 |  | 9 |
|  6.447% due 02/25/2037 ~ |  | 5 |  | 5 |
|  ChaseFlex Trust |  |  |  |  |
|  4.393% due 07/25/2037 •  |  | 328 |  | 291 |
|  6.000% due 02/25/2037 |  | 557 |  | 169 |
|  ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates |
|  4.204% due 08/25/2037 þ |  | 1091 |  | 928 |
|  Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates |
|  4.023% due 05/25/2036 •  |  | 291 |  | 283 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.147% due 03/25/2037 ~ |  | 40 |  | 35 |
|  4.433% due 03/25/2035 •  |  | 63 |  | 61 |
|  4.453% due 02/25/2035 •  |  | 25 |  | 24 |
|  4.533% due 02/25/2035 •  |  | 446 |  | 423 |
|  4.553% due 09/25/2034 •  |  | 1 |  | 1 |
|  4.787% due 11/25/2034 ~ |  | 17 |  | 16 |
|  4.867% due 09/25/2034 ~ |  | 7 |  | 7 |
|  4.943% due 07/25/2034 ~ |  | 43 |  | 42 |
|  5.500% due 11/25/2035 |  | 41 |  | 20 |
|  5.500% due 07/25/2037 |  | 392 |  | 152 |
|  5.750% due 07/25/2037 |  | 1450 |  | 640 |
|  5.750% due 08/25/2037 |  | 5868 |  | 2775 |
|  5.988% due 12/25/2033 ~ |  | 6 |  | 6 |
|  6.000% due 02/25/2036 |  | 298 |  | 90 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.000% due 03/25/2036 | $— | 3 | $— | 1 |
|  6.148% due 02/20/2036 •  |  | 369 |  | 349 |
|  6.224% due 02/20/2036 •  |  | 53 |  | 48 |
|  CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust |
|  4.133% due 06/25/2035 •  |  | 231 |  | 226 |
|  4.193% due 11/25/2034 •  |  | 6 |  | 6 |
|  Citicorp Mortgage Securities Trust | Citicorp Mortgage Securities Trust | Citicorp Mortgage Securities Trust | Citicorp Mortgage Securities Trust | Citicorp Mortgage Securities Trust |
|  6.000% due 09/25/2037 |  | 47 |  | 48 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.625% due 11/25/2036 ~ |  | 184 |  | 160 |
|  5.387% due 08/25/2035 ~ |  | 100 |  | 95 |
|  5.840% due 09/25/2035 •  |  | 9 |  | 9 |
|  6.040% due 11/25/2035 •  |  | 99 |  | 99 |
|  6.160% due 02/25/2034 ~ |  | 2 |  | 2 |
|  6.824% due 09/25/2037 ~ |  | 31 |  | 30 |
|  CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust |
|  6.000% due 06/25/2037 |  | 241 |  | 221 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  4.033% due 06/25/2036 •  |  | 376 |  | 364 |
|  4.073% due 04/25/2047 •  |  | 1568 |  | 1442 |
|  4.130% due 10/25/2035 ~ |  | 214 |  | 187 |
|  4.143% due 05/25/2036 •  |  | 886 |  | 320 |
|  4.143% due 05/25/2037 •  |  | 33 |  | 10 |
|  4.163% due 02/25/2037 •  |  | 6567 |  | 1754 |
|  4.173% due 09/25/2046 •  |  | 39 |  | 39 |
|  4.193% due 05/25/2036 •  |  | 766 |  | 582 |
|  4.193% due 06/25/2037 •  |  | 9 |  | 9 |
|  4.243% due 09/25/2035 •  |  | 1906 |  | 1159 |
|  4.250% due 07/20/2035 •  |  | 10 |  | 10 |
|  4.264% due 06/25/2037 ~ |  | 28 |  | 28 |
|  4.293% due 12/25/2035 •  |  | 2005 |  | 762 |
|  4.293% due 05/25/2037 •  |  | 798 |  | 255 |
|  4.293% due 09/25/2046 •  |  | 812 |  | 687 |
|  4.353% due 12/25/2035 •  |  | 201 |  | 193 |
|  4.430% due 11/20/2035 •  |  | 1172 |  | 1065 |
|  4.493% due 05/25/2036 •  |  | 997 |  | 389 |
|  4.503% due 07/25/2036 •  |  | 794 |  | 247 |
|  4.543% due 08/25/2035 •  |  | 36 |  | 29 |
|  4.593% due 12/25/2035 •  |  | 225 |  | 189 |
|  4.693% due 12/25/2036 •  |  | 4028 |  | 1241 |
|  5.250% due 06/25/2035 |  | 8 |  | 6 |
|  5.339% due 01/25/2036 •  |  | 347 |  | 336 |
|  5.500% due 04/25/2035 |  | 217 |  | 180 |
|  5.500% due 10/25/2035 |  | 178 |  | 88 |
|  5.500% due 11/25/2035 |  | 1113 |  | 586 |
|  5.500% due 12/25/2035 |  | 162 |  | 78 |
|  5.500% due 01/25/2036 |  | 171 |  | 90 |
|  5.500% due 03/25/2036 |  | 38 |  | 15 |
|  5.750% due 07/25/2035 |  | 1135 |  | 692 |
|  6.000% due 04/25/2036 |  | 543 |  | 230 |
|  6.000% due 01/25/2037 |  | 629 |  | 304 |
|  6.000% due 02/25/2037 |  | 1987 |  | 742 |
|  6.000% due 03/25/2037 |  | 660 |  | 209 |
|  6.000% due 08/25/2037 |  | 467 |  | 211 |
|  6.250% due 11/25/2036 |  | 297 |  | 215 |
|  6.500% due 09/25/2037 |  | 1060 |  | 390 |
|  Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization |
|  6.000% due 05/25/2036 |  | 351 |  | 184 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  4.459% due 03/25/2032 ~ |  | 22 |  | 22 |
|  6.000% due 01/25/2036 |  | 642 |  | 415 |
|  CSFB Mortgage-Backed Pass-Through Certificates | CSFB Mortgage-Backed Pass-Through Certificates | CSFB Mortgage-Backed Pass-Through Certificates | CSFB Mortgage-Backed Pass-Through Certificates | CSFB Mortgage-Backed Pass-Through Certificates |
|  7.000% due 02/25/2034 |  | 15 |  | 15 |
|  CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust |
|  6.250% due 08/25/2036 |  | 288 |  | 102 |
|  7.000% due 08/25/2037 ~ |  | 793 |  | 360 |
|  CSMC Trust |  |  |  |  |
|  3.431% due 11/10/2032 |  | 1200 |  | 1017 |
|  4.159% due 07/27/2037 ~ |  | 1150 |  | 1069 |
|  DBGS Mortgage Trust |  |  |  |  |
|  5.332% due 10/15/2039 •  |  | 1000 |  | 998 |
|  Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust |
|  4.033% due 08/25/2036 •  |  | 939 |  | 873 |
|  Deutsche Alt-B Securities, Inc. Mortgage Loan Trust | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust |
|  4.093% due 04/25/2037 •  |  | 267 |  | 189 |
|  DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust |
|  4.311% due 08/19/2045 •  |  | 7 |  | 6 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.779% due 03/19/2046 •  | $— | 205 | $— | 177 |
|  EMF-NL Prime BV |  |  |  |  |
|  2.833% due 04/17/2041 •  |  | 227 |  | 261 |
|  Eurosail PLC |  |  |  |  |
|  2.499% due 06/10/2044 •  |  | 3859 |  | 4441 |
|  First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust |
|  4.138% due 01/25/2036 ~ | $— | 1969 |  | 939 |
|  4.341% due 03/25/2035 ~ |  | 14 |  | 8 |
|  4.867% due 04/25/2036 ~ |  | 126 |  | 104 |
|  4.965% due 06/25/2036 ~ |  | 165 |  | 131 |
|  First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust |
|  5.994% due 08/25/2035 ~ |  | 64 |  | 42 |
|  GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust |
|  4.333% due 11/25/2045 •  |  | 28 |  | 27 |
|  GreenPoint Mortgage Pass-Through Certificates | GreenPoint Mortgage Pass-Through Certificates | GreenPoint Mortgage Pass-Through Certificates | GreenPoint Mortgage Pass-Through Certificates | GreenPoint Mortgage Pass-Through Certificates |
|  6.745% due 10/25/2033 ~ |  | 3 |  | 3 |
|  GreenPoint MTA Trust |  |  |  |  |
|  4.233% due 06/25/2045 •  |  | 3 |  | 2 |
|  Grifonas Finance No. 1 PLC |  |  |  |  |
|  2.419% due 08/28/2039 •  |  | 154 |  | 174 |
|  GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust |
|  4.143% due 03/25/2035 •  | $— | 24 |  | 23 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  4.865% due 06/25/2034 ~ |  | 21 |  | 20 |
|  5.270% due 03/25/2033 •  |  | 1 |  | 1 |
|  5.750% due 03/25/2036 |  | 117 |  | 105 |
|  5.750% due 01/25/2037 |  | 307 |  | 177 |
|  6.000% due 02/25/2036 |  | 1074 |  | 374 |
|  6.000% due 03/25/2037 |  | 614 |  | 288 |
|  6.000% due 05/25/2037 |  | 153 |  | 108 |
|  6.500% due 09/25/2036 |  | 312 |  | 127 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  3.971% due 11/19/2036 •  |  | 66 |  | 59 |
|  3.971% due 11/19/2046 •  |  | 17 |  | 13 |
|  4.271% due 06/19/2035 •  |  | 10 |  | 10 |
|  4.291% due 01/19/2036 •  |  | 800 |  | 512 |
|  4.351% due 02/19/2036 •  |  | 548 |  | 223 |
|  4.411% due 11/19/2035 •  |  | 220 |  | 139 |
|  4.611% due 11/19/2034 •  |  | 178 |  | 164 |
|  4.679% due 06/19/2045 •  |  | 1983 |  | 764 |
|  5.291% due 10/19/2035 •  |  | 305 |  | 221 |
|  5.460% due 04/19/2034 ~ |  | 2 |  | 2 |
|  HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust |
|  4.673% due 04/25/2037 ~ |  | 3368 |  | 3072 |
|  Impac CMB Trust |  |  |  |  |
|  4.453% due 03/25/2035 •  |  | 36 |  | 34 |
|  Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust |
|  4.493% due 05/25/2036 •  |  | 27 |  | 26 |
|  IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust |
|  3.715% due 06/25/2037 ~ |  | 427 |  | 252 |
|  IndyMac INDA Mortgage Loan Trust | IndyMac INDA Mortgage Loan Trust | IndyMac INDA Mortgage Loan Trust | IndyMac INDA Mortgage Loan Trust | IndyMac INDA Mortgage Loan Trust |
|  3.923% due 12/25/2036 ~ |  | 16 |  | 12 |
|  5.248% due 01/25/2036 ~ |  | 295 |  | 279 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  3.468% due 01/25/2036 ~ |  | 178 |  | 162 |
|  4.026% due 06/25/2036 ~ |  | 376 |  | 336 |
|  4.113% due 04/25/2037 •  |  | 191 |  | 172 |
|  4.173% due 09/25/2046 •  |  | 14 |  | 13 |
|  4.193% due 11/25/2046 •  |  | 215 |  | 210 |
|  4.293% due 02/25/2037 •  |  | 1017 |  | 673 |
|  4.368% due 12/25/2034 ~ |  | 150 |  | 143 |
|  4.757% due 10/25/2034 ~ |  | 468 |  | 450 |
|  JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust |
|  4.073% due 03/25/2037 •  |  | 335 |  | 292 |
|  4.153% due 06/25/2037 •  |  | 3612 |  | 1834 |
|  4.287% due 06/27/2037 •  |  | 157 |  | 89 |
|  4.667% due 05/25/2037 ~ |  | 489 |  | 430 |
|  5.500% due 11/25/2036 ~ |  | 1 |  | 0 |
|  5.843% due 05/26/2037 ~ |  | 2053 |  | 1587 |
|  6.810% due 08/25/2036 þ |  | 424 |  | 419 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  4.248% due 07/05/2033 |  | 1300 |  | 1245 |
|  4.519% due 04/15/2037 •  |  | 939 |  | 930 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  0.000% due 05/25/2034 ~ |  | 25 |  | 24 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **39** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.730% due 11/25/2035 ~ | $— | 120 | $— | 94 |
|  4.968% due 07/25/2035 ~ |  | 6 |  | 6 |
|  5.182% due 04/25/2037 ~ |  | 16 |  | 11 |
|  5.460% due 04/25/2036 ~ |  | 69 |  | 62 |
|  5.681% due 11/25/2033 ~ |  | 1 |  | 1 |
|  5.750% due 01/25/2036 |  | 769 |  | 334 |
|  6.000% due 08/25/2037 |  | 9 |  | 4 |
|  6.250% due 07/25/2036 |  | 1229 |  | 359 |
|  6.500% due 01/25/2036 |  | 407 |  | 210 |
|  6.500% due 08/25/2036 |  | 1412 |  | 459 |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.193% due 08/25/2046 •  |  | 706 |  | 703 |
|  MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust |
|  5.572% due 05/25/2034 ~ |  | 33 |  | 32 |
|  5.598% due 11/21/2034 ~ |  | 9 |  | 9 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates |
|  4.487% due 11/15/2031 •  |  | 11 |  | 11 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust |
|  4.227% due 12/15/2030 •  |  | 22 |  | 21 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  0.020% due 11/25/2029 ~(a) |  | 263 |  | 0 |
|  4.342% due 03/25/2036 ~ |  | 545 |  | 250 |
|  5.170% due 02/25/2036 ~ |  | 196 |  | 193 |
|  5.900% due 02/25/2033 ~ |  | 4 |  | 4 |
|  7.000% due 05/25/2033 ~ |  | 1 |  | 1 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  3.468% due 07/25/2035 ~ |  | 67 |  | 61 |
|  3.665% due 12/25/2037 ~ |  | 873 |  | 560 |
|  4.053% due 03/25/2036 •  |  | 172 |  | 110 |
|  4.088% due 08/25/2034 ~ |  | 27 |  | 25 |
|  5.053% due 07/25/2035 ~ |  | 41 |  | 34 |
|  5.609% due 08/25/2034 ~ |  | 3 |  | 3 |
|  5.634% due 06/25/2036 ~ |  | 9 |  | 9 |
|  6.000% due 06/25/2036 ~ |  | 227 |  | 222 |
|  NAAC Reperforming Loan REMICS Trust Certificates | NAAC Reperforming Loan REMICS Trust Certificates | NAAC Reperforming Loan REMICS Trust Certificates | NAAC Reperforming Loan REMICS Trust Certificates | NAAC Reperforming Loan REMICS Trust Certificates |
|  6.500% due 02/25/2035 |  | 294 |  | 254 |
|  Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust |
|  3.858% due 04/10/2037 |  | 330 |  | 314 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.750% due 07/25/2059 ~ |  | 4103 |  | 3980 |
|  2.750% due 11/25/2059 ~ |  | 6813 |  | 6549 |
|  Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust |
|  4.155% due 10/25/2035 ~ |  | 179 |  | 162 |
|  4.633% due 06/25/2037 •  |  | 2801 |  | 2361 |
|  Project Cashmere | Project Cashmere | Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(b) |  | 39600 |  | 27322 |
|  RALI Trust |  |  |  |  |
|  3.510% due 12/26/2034 ~ | $— | 143 |  | 46 |
|  4.043% due 02/25/2036 •  |  | 113 |  | 72 |
|  4.153% due 05/25/2036 •  |  | 618 |  | 571 |
|  4.163% due 12/25/2036 •  |  | 41 |  | 37 |
|  4.193% due 11/25/2036 •  |  | 142 |  | 102 |
|  4.293% due 08/25/2037 •  |  | 24 |  | 24 |
|  4.593% due 10/25/2045 •  |  | 101 |  | 70 |
|  4.678% due 02/25/2035 ~ |  | 422 |  | 378 |
|  4.973% due 01/25/2036 ~ |  | 941 |  | 631 |
|  6.000% due 06/25/2036 |  | 128 |  | 105 |
|  6.160% due 09/25/2037 ~ |  | 6033 |  | 3989 |
|  6.500% due 09/25/2037 |  | 164 |  | 136 |
|  RBSGC Structured Trust | RBSGC Structured Trust | RBSGC Structured Trust | RBSGC Structured Trust | RBSGC Structured Trust |
|  5.500% due 11/25/2035 ~ |  | 1289 |  | 1065 |
|  RBSSP Resecuritization Trust | RBSSP Resecuritization Trust | RBSSP Resecuritization Trust | RBSSP Resecuritization Trust | RBSSP Resecuritization Trust |
|  4.028% due 06/27/2036 •  |  | 4563 |  | 4226 |
|  4.028% due 08/27/2037 •  |  | 61 |  | 60 |
|  Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust |
|  4.193% due 01/25/2046 •  |  | 1465 |  | 389 |
|  4.243% due 02/25/2034 •  |  | 35 |  | 33 |
|  5.500% due 09/25/2035 |  | 79 |  | 32 |
|  5.500% due 12/25/2035 |  | 225 |  | 95 |
|  5.750% due 02/25/2036 |  | 784 |  | 279 |
|  6.000% due 07/25/2036 |  | 328 |  | 157 |
|  6.000% due 07/25/2037 |  | 1348 |  | 480 |
|  RFMSI Trust |  |  |  |  |
|  0.000% due 09/25/2036 ~ |  | 7 |  | 0 |
|  5.390% due 02/25/2036 ~ |  | 164 |  | 157 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.000% due 10/25/2036 | $— | 231 | $— | 188 |
|  6.500% due 03/25/2032 |  | 5 |  | 5 |
|  RMAC Securities No. 1 PLC | RMAC Securities No. 1 PLC | RMAC Securities No. 1 PLC | RMAC Securities No. 1 PLC | RMAC Securities No. 1 PLC |
|  4.015% due 06/12/2044 •  |  | 315 |  | 410 |
|  Sequoia Mortgage Trust |  |  |  |  |
|  3.538% due 09/20/2046 ~ | $— | 28 |  | 18 |
|  STRIPs III Ltd. |  |  |  |  |
|  5.000% due 03/27/2049 ~ |  | 239 |  | 6 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  3.981% due 04/25/2036 ~ |  | 254 |  | 130 |
|  4.113% due 10/25/2035 •  |  | 1466 |  | 1418 |
|  4.233% due 06/25/2037 •  |  | 799 |  | 761 |
|  4.243% due 09/25/2036 ~ |  | 158 |  | 107 |
|  4.297% due 10/25/2036 ~ |  | 260 |  | 124 |
|  4.630% due 01/25/2035 ~ |  | 38 |  | 37 |
|  4.810% due 03/25/2034 ~ |  | 3 |  | 3 |
|  5.259% due 01/25/2035 •  |  | 9 |  | 8 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  3.913% due 08/25/2036 •  |  | 90 |  | 81 |
|  4.153% due 07/25/2046 •  |  | 1107 |  | 1005 |
|  4.213% due 05/25/2036 •  |  | 81 |  | 57 |
|  4.213% due 08/25/2036 •  |  | 438 |  | 369 |
|  4.253% due 05/25/2045 •  |  | 19 |  | 18 |
|  4.291% due 07/19/2035 •  |  | 34 |  | 33 |
|  4.353% due 02/25/2036 •  |  | 123 |  | 106 |
|  4.371% due 07/19/2034 •  |  | 1 |  | 1 |
|  4.393% due 08/25/2036 •  |  | 426 |  | 350 |
|  4.491% due 03/19/2034 •  |  | 1 |  | 1 |
|  Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates |
|  6.169% due 03/25/2033 ~ |  | 12 |  | 12 |
|  Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust |
|  5.114% due 10/25/2043 ~ |  | 38 |  | 36 |
|  5.786% due 06/25/2037 •  |  | 7752 |  | 6676 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  2.900% due 10/25/2059 ~ |  | 9730 |  | 9364 |
|  Wachovia Mortgage Loan Trust LLC | Wachovia Mortgage Loan Trust LLC | Wachovia Mortgage Loan Trust LLC | Wachovia Mortgage Loan Trust LLC | Wachovia Mortgage Loan Trust LLC |
|  6.627% due 10/20/2035 ~ |  | 29 |  | 28 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  3.660% due 10/25/2036 ~ |  | 14 |  | 13 |
|  3.697% due 05/25/2046 •  |  | 66 |  | 56 |
|  3.707% due 10/25/2036 ~ |  | 299 |  | 266 |
|  3.799% due 03/25/2037 ~ |  | 11795 |  | 10335 |
|  3.817% due 07/25/2037 ~ |  | 179 |  | 162 |
|  3.829% due 12/25/2046 •  |  | 125 |  | 112 |
|  3.868% due 06/25/2037 ~ |  | 659 |  | 582 |
|  3.871% due 12/25/2046 •  |  | 188 |  | 174 |
|  3.999% due 05/25/2037 ~ |  | 18 |  | 15 |
|  4.333% due 12/25/2045 •  |  | 2 |  | 2 |
|  4.373% due 12/25/2045 •  |  | 211 |  | 195 |
|  4.589% due 01/25/2047 •  |  | 56 |  | 55 |
|  4.609% due 06/25/2047 •  |  | 29 |  | 28 |
|  4.616% due 03/25/2035 ~ |  | 57 |  | 56 |
|  4.650% due 01/25/2036 ~ |  | 263 |  | 256 |
|  4.839% due 06/25/2046 •  |  | 357 |  | 340 |
|  5.059% due 11/25/2042 •  |  | 3 |  | 3 |
|  5.259% due 06/25/2042 •  |  | 58 |  | 55 |
|  5.259% due 08/25/2042 •  |  | 28 |  | 27 |
|  5.364% due 03/25/2033 ~ |  | 17 |  | 17 |
|  5.481% due 08/25/2035 ~ |  | 137 |  | 143 |
|  5.600% due 03/25/2034 ~ |  | 1 |  | 1 |
|  5.686% due 09/25/2033 ~ |  | 2 |  | 2 |
|  5.718% due 06/25/2033 ~ |  | 23 |  | 23 |
|  5.902% due 10/25/2034 ~ |  | 45 |  | 42 |
|  6.112% due 12/25/2032 ~ |  | 1104 |  | 1084 |
|  Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC |
|  0.000% due 12/21/2049 (g) |  | 0 |  | 749 |
|  4.695% due 12/21/2049 •  |  | 1635 |  | 2165 |
|  5.395% due 12/21/2049 •  |  | 910 |  | 1206 |
|  5.895% due 12/21/2049 •  |  | 455 |  | 599 |
|  6.395% due 12/21/2049 •  |  | 260 |  | 342 |
|  6.895% due 12/21/2049 •  |  | 260 |  | 339 |
|  Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust |
|  4.493% due 01/25/2036 •  | $— | 1748 |  | 1418 |
|  4.629% due 04/25/2047 •  |  | 2270 |  | 1917 |
|  5.500% due 11/25/2035 |  | 76 |  | 63 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.750% due 11/25/2035 | 452 | 428 |
|  6.000% due 10/25/2035 | 272 | 218 |
|  Washington Mutual MSC Mortgage Pass-Through Certificates Trust | Washington Mutual MSC Mortgage Pass-Through Certificates Trust | Washington Mutual MSC Mortgage Pass-Through Certificates Trust |
|  4.582% due 06/25/2033 ~ | 11 | 10 |
|  Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust |
|  4.143% due 06/25/2037 •  | 508 | 371 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  3.749% due 06/15/2036 ~ | 1400 | 1321 |
|  Wells Fargo Mortgage-Backed Securities Trust | Wells Fargo Mortgage-Backed Securities Trust | Wells Fargo Mortgage-Backed Securities Trust |
|  5.715% due 04/25/2036 ~ | 22 | 22 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $188,938) | Total Non-Agency Mortgage-Backed Securities (Cost $188,938) | 168696 |
| ASSET-BACKED SECURITIES 12.7% | ASSET-BACKED SECURITIES 12.7% | ASSET-BACKED SECURITIES 12.7% |
| HOME EQUITY OTHER 6.6% | HOME EQUITY OTHER 6.6% | HOME EQUITY OTHER 6.6% |
|  ABFC Trust |  |  |
|  4.093% due 05/25/2037 •  | 8140 | 7648 |
|  4.493% due 06/25/2034 •  | 218 | 219 |
|  4.793% due 06/25/2037 •  | 31 | 27 |
|  4.843% due 03/25/2034 •  | 517 | 503 |
|  4.918% due 12/25/2032 •  | 93 | 94 |
|  ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust |
|  4.033% due 08/25/2036 •  | 2782 | 630 |
|  4.113% due 08/25/2036 •  | 1492 | 338 |
|  4.193% due 12/25/2036 •  | 4705 | 1174 |
|  4.768% due 11/25/2033 •  | 100 | 104 |
|  Aegis Asset-Backed Securities Trust | Aegis Asset-Backed Securities Trust | Aegis Asset-Backed Securities Trust |
|  4.793% due 03/25/2035 •  | 85 | 82 |
|  Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.918% due 11/25/2034 •  | 870 | 854 |
|  Amortizing Residential Collateral Trust | Amortizing Residential Collateral Trust | Amortizing Residential Collateral Trust |
|  4.493% due 10/25/2031 •  | 112 | 112 |
|  Argent Securities Trust |  |  |
|  3.903% due 09/25/2036 •  | 342 | 111 |
|  3.943% due 09/25/2036 •  | 807 | 261 |
|  4.093% due 06/25/2036 •  | 3238 | 862 |
|  4.093% due 07/25/2036 •  | 1936 | 520 |
|  Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates |
|  3.642% due 02/25/2034 •  | 365 | 395 |
|  Asset-Backed Securities Corp. Home Equity Loan Trust | Asset-Backed Securities Corp. Home Equity Loan Trust | Asset-Backed Securities Corp. Home Equity Loan Trust |
|  4.888% due 02/25/2035 •  | 229 | 237 |
|  Bayview Financial Revolving Asset Trust | Bayview Financial Revolving Asset Trust | Bayview Financial Revolving Asset Trust |
|  4.718% due 02/28/2040 •  | 40 | 38 |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.113% due 08/25/2036 •  | 1847 | 1808 |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  4.793% due 11/25/2042 •  | 1 | 1 |
|  C-BASS Mortgage Loan Trust | C-BASS Mortgage Loan Trust | C-BASS Mortgage Loan Trust |
|  3.257% due 03/25/2037 þ | 7195 | 2596 |
|  C-BASS Trust |  |  |
|  4.093% due 11/25/2036 •  | 767 | 355 |
|  Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust |
|  3.953% due 10/25/2036 •  | 680 | 555 |
|  4.273% due 06/25/2036 •  | 1548 | 1517 |
|  4.693% due 05/25/2034 •  | 640 | 674 |
|  CIT Mortgage Loan Trust |  |  |
|  5.293% due 10/25/2037 •  | 6860 | 6959 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.113% due 09/25/2036 •  | 7750 | 6001 |
|  4.113% due 12/25/2036 •  | 1509 | 1056 |
|  Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates |
|  4.473% due 12/25/2036 •  | 130 | 109 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.413% due 09/25/2037 •  | 1686 | 1430 |
|  5.293% due 02/25/2035 •  | 334 | 334 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  4.413% due 01/25/2032 •  | 1 | 1 |
|  Delta Funding Home Equity Loan Trust | Delta Funding Home Equity Loan Trust | Delta Funding Home Equity Loan Trust |
|  7.790% due 05/25/2030 þ | 36 | 36 |

---

---

| | | |
|:---|:---|:---|
| **40** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Fieldstone Mortgage Investment Trust | Fieldstone Mortgage Investment Trust | Fieldstone Mortgage Investment Trust |
|  4.108% due 11/25/2036 •  | 1223 | 805 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  4.053% due 11/25/2036 •  | 4470 | 1559 |
|  4.093% due 01/25/2037 •  | 1249 | 572 |
|  4.273% due 02/25/2037 •  | 3253 | 973 |
|  4.293% due 05/25/2036 •  | 7699 | 5071 |
|  4.663% due 05/25/2034 •  | 2401 | 2396 |
|  GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust |
|  4.093% due 08/25/2036 •  | 2155 | 907 |
|  GSAA Home Equity Trust | GSAA Home Equity Trust | GSAA Home Equity Trust |
|  4.353% due 07/25/2037 •  | 31412 | 17222 |
|  4.999% due 09/25/2035 ~ | 66 | 62 |
|  GSAMP Trust |  |  |
|  3.893% due 12/25/2046 •  | 905 | 449 |
|  3.993% due 12/25/2046 •  | 3302 | 1639 |
|  4.093% due 09/25/2036 •  | 1319 | 453 |
|  4.093% due 12/25/2046 •  | 2125 | 1054 |
|  4.253% due 12/25/2046 •  | 409 | 203 |
|  4.273% due 08/25/2036 •  | 616 | 535 |
|  4.333% due 04/25/2036 •  | 1862 | 1220 |
|  Home Equity Loan Trust | Home Equity Loan Trust | Home Equity Loan Trust |
|  4.133% due 04/25/2037 •  | 3000 | 2699 |
|  Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust |
|  4.033% due 04/25/2037 •  | 1549 | 1055 |
|  4.113% due 07/25/2037 •  | 2329 | 1300 |
|  4.193% due 07/25/2037 •  | 2403 | 1341 |
|  Home Equity Mortgage Trust | Home Equity Mortgage Trust | Home Equity Mortgage Trust |
|  5.867% due 07/25/2036 þ | 130 | 11 |
|  HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust |
|  4.013% due 12/25/2036 •  | 3209 | 768 |
|  4.133% due 12/25/2036 •  | 928 | 211 |
|  4.173% due 01/25/2037 •  | 1285 | 915 |
|  4.233% due 12/25/2036 •  | 6867 | 1561 |
|  IXIS Real Estate Capital Trust | IXIS Real Estate Capital Trust | IXIS Real Estate Capital Trust |
|  4.253% due 01/25/2037 •  | 3763 | 1211 |
|  JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust |
|  4.093% due 07/25/2036 •  | 1168 | 550 |
|  4.113% due 07/25/2036 •  | 1196 | 319 |
|  6.630% due 07/25/2036 þ | 952 | 240 |
|  Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust |
|  4.393% due 02/25/2036 •  | 1380 | 1241 |
|  5.588% due 07/25/2032 •  | 72 | 72 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  3.893% due 10/25/2036 •  | 833 | 266 |
|  3.893% due 11/25/2036 •  | 49 | 14 |
|  4.093% due 08/25/2036 •  | 758 | 264 |
|  4.273% due 03/25/2036 •  | 2250 | 1335 |
|  4.273% due 10/25/2036 •  | 1253 | 1143 |
|  4.543% due 10/25/2035 •  | 471 | 469 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.013% due 08/25/2037 •  | 1531 | 748 |
|  4.076% due 02/25/2037 þ | 1488 | 152 |
|  4.093% due 08/25/2037 •  | 9238 | 4514 |
|  4.693% due 02/25/2047 •  | 377 | 218 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  3.853% due 12/25/2036 •  | 2723 | 1369 |
|  3.903% due 03/25/2037 •  | 1228 | 497 |
|  3.933% due 11/25/2036 •  | 7381 | 3522 |
|  3.943% due 10/25/2036 •  | 16560 | 8642 |
|  3.943% due 11/25/2036 •  | 2306 | 1361 |
|  3.943% due 12/25/2036 •  | 602 | 303 |
|  3.973% due 02/25/2037 •  | 1896 | 593 |
|  3.993% due 02/25/2037 •  | 49 | 21 |
|  4.013% due 11/25/2036 •  | 3991 | 1904 |
|  4.043% due 03/25/2037 •  | 13172 | 5327 |
|  4.093% due 09/25/2036 •  | 8784 | 3015 |
|  4.113% due 09/25/2036 •  | 1442 | 606 |
|  4.153% due 02/25/2037 •  | 1363 | 426 |
|  4.273% due 06/25/2036 •  | 777 | 385 |
|  4.293% due 08/25/2036 •  | 100 | 50 |
|  4.843% due 09/25/2033 •  | 265 | 275 |
|  4.843% due 06/25/2035 •  | 4000 | 3768 |
|  Morgan Stanley Home Equity Loan Trust | Morgan Stanley Home Equity Loan Trust | Morgan Stanley Home Equity Loan Trust |
|  3.893% due 12/25/2036 •  | 1205 | 574 |
|  New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |
|  6.793% due 01/25/2033 •  | 212 | 179 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Nomura Home Equity Loan, Inc. Home Equity Loan Trust | Nomura Home Equity Loan, Inc. Home Equity Loan Trust | Nomura Home Equity Loan, Inc. Home Equity Loan Trust |
|  4.453% due 10/25/2036 •  | 3964 | 709 |
|  4.593% due 02/25/2037 •  | 387 | 103 |
|  NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust |
|  4.093% due 09/25/2036 •  | 2793 | 1077 |
|  4.133% due 11/25/2036 •  | 6712 | 2030 |
|  4.213% due 01/25/2037 •  | 2657 | 872 |
|  4.293% due 10/25/2036 •  | 1011 | 463 |
|  Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |
|  3.923% due 07/25/2037 •  | 728 | 472 |
|  3.973% due 04/25/2037 •  | 805 | 399 |
|  4.033% due 04/25/2037 •  | 852 | 490 |
|  4.043% due 07/25/2037 •  | 985 | 639 |
|  4.233% due 01/25/2037 •  | 646 | 376 |
|  4.293% due 03/25/2037 •  | 442 | 216 |
|  Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust |
|  3.155% due 10/25/2035 þ | 514 | 284 |
|  4.088% due 05/25/2037 •  | 1389 | 1175 |
|  Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates |
|  5.593% due 12/25/2034 •  | 253 | 251 |
|  People's Financial Realty Mortgage Securities Trust | People's Financial Realty Mortgage Securities Trust | People's Financial Realty Mortgage Securities Trust |
|  3.933% due 09/25/2036 •  | 2165 | 506 |
|  Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust |
|  2.604% due 09/25/2037 þ | 5244 | 3710 |
|  5.612% due 04/25/2037 þ | 3801 | 925 |
|  Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust |
|  4.313% due 07/25/2036 •  | 10188 | 9279 |
|  4.333% due 07/25/2036 •  | 1927 | 1724 |
|  4.828% due 08/25/2035 •  | 797 | 799 |
|  Saxon Asset Securities Trust | Saxon Asset Securities Trust | Saxon Asset Securities Trust |
|  1.966% due 03/25/2035 •  | 39 | 33 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  4.558% due 02/25/2034 •  | 197 | 197 |
|  SG Mortgage Securities Trust | SG Mortgage Securities Trust | SG Mortgage Securities Trust |
|  4.093% due 10/25/2036 •  | 1684 | 1629 |
|  4.213% due 10/25/2036 •  | 2300 | 1864 |
|  4.333% due 02/25/2036 •  | 4670 | 2288 |
|  Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust |
|  4.013% due 02/25/2037 •  | 3959 | 1045 |
|  4.353% due 10/25/2036 •  | 1475 | 1474 |
|  4.743% due 09/25/2037 •  | 1559 | 1341 |
|  Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust |
|  4.513% due 10/25/2035 •  | 200 | 198 |
|  4.768% due 01/25/2035 •  | 1713 | 1658 |
|  4.918% due 01/25/2035 •  | 606 | 552 |
|  5.173% due 04/25/2033 •  | 36 | 37 |
|  5.368% due 01/25/2035 •  | 684 | 598 |
|  5.518% due 01/25/2035 •  | 629 | 263 |
|  Structured Asset Securities Corp. Trust | Structured Asset Securities Corp. Trust | Structured Asset Securities Corp. Trust |
|  4.483% due 09/25/2035 •  | 3831 | 3711 |
|  Washington Mutual Asset-Backed Certificates Trust | Washington Mutual Asset-Backed Certificates Trust | Washington Mutual Asset-Backed Certificates Trust |
|  4.273% due 05/25/2036 •  | 1083 | 856 |
|  |  | 172438 |
| HOME EQUITY SEQUENTIAL 0.1% | HOME EQUITY SEQUENTIAL 0.1% | HOME EQUITY SEQUENTIAL 0.1% |
|  ABFC Trust |  |  |
|  4.013% due 01/25/2037 •  | 2215 | 1239 |
|  4.113% due 01/25/2037 •  | 1064 | 596 |
|  C-BASS Trust |  |  |
|  3.084% due 01/25/2037 þ | 1072 | 291 |
|  Saxon Asset Securities Trust | Saxon Asset Securities Trust | Saxon Asset Securities Trust |
|  4.133% due 10/25/2046 •  | 143 | 141 |
|  |  | 2267 |
| MANUFACTURING HOUSE SEQUENTIAL 0.1% | MANUFACTURING HOUSE SEQUENTIAL 0.1% | MANUFACTURING HOUSE SEQUENTIAL 0.1% |
|  Conseco Finance Securitizations Corp. | Conseco Finance Securitizations Corp. | Conseco Finance Securitizations Corp. |
|  7.770% due 09/01/2031 þ | 1750 | 1776 |
| WHOLE LOAN COLLATERAL 1.0% | WHOLE LOAN COLLATERAL 1.0% | WHOLE LOAN COLLATERAL 1.0% |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  5.750% due 11/25/2034 þ | 385 | 343 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  4.593% due 09/25/2046 •  | 206 | 195 |
|  5.500% due 08/25/2036 | 17 | 17 |
|  6.500% due 10/25/2036 | 4756 | 1514 |
|  First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust |
|  4.618% due 05/25/2034 •  | 167 | 165 |
|  4.738% due 03/25/2035 •  | 410 | 462 |
|  5.068% due 07/25/2034 •  | 15 | 15 |
|  GSAMP Trust |  |  |
|  3.782% due 11/25/2034 •  | 457 | 447 |
|  Lehman XS Trust |  |  |
|  4.313% due 05/25/2046 •  | 20046 | 18863 |
|  Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates | Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates | Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates |
|  4.553% due 12/25/2035 •  | 1193 | 1187 |
|  RAAC Trust |  |  |
|  4.393% due 06/25/2044 •  | 142 | 132 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  4.293% due 03/25/2036 •  | 2183 | 1386 |
|  Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust |
|  4.033% due 03/25/2037 •  | 571 | 295 |
|  4.093% due 09/25/2037 •  | 3584 | 1209 |
|  |  | 26230 |
| OTHER ABS 4.9% | OTHER ABS 4.9% | OTHER ABS 4.9% |
|  ARES European CLO X DAC | ARES European CLO X DAC | ARES European CLO X DAC |
|  2.796% due 10/15/2031 •  | 2141 | 2477 |
|  ARES European CLO XII DAC | ARES European CLO XII DAC | ARES European CLO XII DAC |
|  2.876% due 04/20/2032 •  | 2051 | 2371 |
|  ARES XXXIX CLO Ltd. |  |  |
|  5.088% due 07/18/2037 •  | 7000 | 7018 |
|  Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. |
|  4.768% due 01/20/2034 •  | 2100 | 2101 |
|  Aurium CLO IV DAC |  |  |
|  2.746% due 01/16/2031 •  | 4142 | 4792 |
|  Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |
|  5.051% due 10/16/2037 •  | 1200 | 1201 |
|  Barings Euro CLO DAC |  |  |
|  3.426% due 08/15/2039 •  | 2000 | 2307 |
|  Belle Haven ABS CDO Ltd. | Belle Haven ABS CDO Ltd. | Belle Haven ABS CDO Ltd. |
|  7.110% due 11/03/2044 •  | 33772 | 8475 |
|  Benefit Street Partners CLO XXII Ltd. | Benefit Street Partners CLO XXII Ltd. | Benefit Street Partners CLO XXII Ltd. |
|  4.818% due 04/20/2035 •  | 1000 | 1000 |
|  BlueMountain CLO XXXIV Ltd. | BlueMountain CLO XXXIV Ltd. | BlueMountain CLO XXXIV Ltd. |
|  4.818% due 04/20/2035 •  | 3200 | 3201 |
|  Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC |
|  3.279% due 10/25/2038 •  | 2800 | 3231 |
|  Carlyle Euro CLO DAC |  |  |
|  2.716% due 01/15/2031 •  | 842 | 974 |
|  2.874% due 08/15/2032 •  | 770 | 891 |
|  CIFC Funding Ltd. |  |  |
|  4.880% due 10/24/2030 •  | 105 | 105 |
|  4.988% due 04/17/2035 •  | 6900 | 6903 |
|  Citius I Funding Ltd. |  |  |
|  7.000% due 05/05/2046 «•  | 435816 | 0 |
|  CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC |
|  3.285% due 01/23/2039 •  | 1500 | 1731 |
|  Dryden 95 CLO Ltd. |  |  |
|  4.696% due 08/20/2034 •  | 2900 | 2901 |
|  Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. |
|  4.778% due 04/20/2035 •  | 2500 | 2501 |
|  Grosvenor Place CLO DAC | Grosvenor Place CLO DAC | Grosvenor Place CLO DAC |
|  3.383% due 08/15/2039 •  | 2300 | 2658 |
|  Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC |
|  3.266% due 10/15/2038 •  | 4000 | 4621 |
|  Kennedy Lewis CLO 8 Ltd. | Kennedy Lewis CLO 8 Ltd. | Kennedy Lewis CLO 8 Ltd. |
|  5.048% due 01/20/2038 •  | 6000 | 6014 |
|  KKR CLO 16 Ltd. |  |  |
|  4.808% due 10/20/2034 •  | 6995 | 7002 |
|  Magnetite XLII Ltd. |  |  |
|  4.978% due 01/25/2038 •  | 1000 | 999 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **41** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC |
|  3.284% due 02/15/2038 •  | 2700 | 3121 |
|  Navesink CLO 2 Ltd. |  |  |
|  4.862% due 01/15/2036 •  | 1500 | 1500 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.050% due 03/23/2037 •  | 38 | 38 |
|  4.259% due 10/25/2033 •  | 69 | 68 |
|  Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC |
|  3.134% due 02/15/2035 •  | 5973 | 6912 |
|  Penta CLO 9 DAC |  |  |
|  2.880% due 07/25/2036 •  | 2000 | 2306 |
|  Post CLO Ltd. |  |  |
|  4.762% due 04/20/2035 •  | 3700 | 3701 |
|  Rad CLO 16 Ltd. |  |  |
|  5.222% due 07/15/2037 •  | 1500 | 1504 |
|  Sierra Madre Funding Ltd. |  |  |
|  4.164% due 09/07/2039 •  | 10332 | 5517 |
|  4.184% due 09/07/2039 •  | 24114 | 12907 |
|  Signal Peak CLO 8 Ltd. |  |  |
|  5.058% due 10/20/2037 •  | 2125 | 2131 |
|  SLM Student Loan Trust |  |  |
|  5.276% due 06/25/2043 •  | 103 | 99 |
|  5.276% due 09/25/2076 •  | 104 | 102 |
|  5.576% due 11/25/2070 •  | 141 | 142 |
|  Symphony CLO 52 Ltd. |  |  |
|  4.815% due 01/20/2036 •  | 2200 | 2200 |
|  Talon Funding Ltd. |  |  |
|  7.240% due 06/05/2035 •  | 1445 | 236 |
|  Toro European CLO 2 DAC |  |  |
|  3.020% due 07/25/2034 •  | 4300 | 4969 |
|  Toro European CLO 3 DAC |  |  |
|  3.006% due 07/15/2034 •  | 1500 | 1734 |
|  Triaxx Prime CDO Ltd. |  |  |
|  4.590% due 10/02/2039 •  | 3599 | 31 |
|  Trinitas CLO VI Ltd. |  |  |
|  4.778% due 01/25/2034 •  | 2200 | 2202 |
|  Wind River CLO Ltd. |  |  |
|  4.778% due 07/20/2034 •  | 1400 | 1401 |
|  |  | 128295 |
|  Total Asset-Backed Securities (Cost $462,258) | Total Asset-Backed Securities (Cost $462,258) | 331006 |
| SOVEREIGN ISSUES 20.4% | SOVEREIGN ISSUES 20.4% | SOVEREIGN ISSUES 20.4% |
|  Baiterek National Investment Holding JSC | Baiterek National Investment Holding JSC | Baiterek National Investment Holding JSC |
|  16.950% due 04/02/2029 «(b) | 201000 | 417 |
|  16.950% due 04/02/2031 «(b) | 201000 | 422 |
|  Bonos de la Tesoreria de la Republica en pesos | Bonos de la Tesoreria de la Republica en pesos | Bonos de la Tesoreria de la Republica en pesos |
|  4.700% due 09/01/2030 | 710000 | 748 |
|  5.000% due 03/01/2035 | 180000 | 187 |
|  5.800% due 10/01/2029 | 1495000 | 1644 |
|  6.000% due 04/01/2033 | 475000 | 528 |
|  Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional |
|  0.000% due 07/01/2026 (g) | 209900 | 39243 |
|  0.000% due 10/01/2026 (g) | 339300 | 61366 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  1.000% due 01/24/2035 | 82274600 | 20377 |
|  6.125% due 01/21/2031 | 1100 | 1083 |
|  Colombia TES |  |  |
|  1.000% due 09/18/2030 | 73384900 | 16064 |
|  2.250% due 04/18/2029 (i) | 2877423 | 680 |
|  6.500% due 01/22/2031 (i) | 86148414 | 22486 |
|  11.000% due 08/22/2029 | 48111500 | 12130 |
|  11.750% due 01/24/2035 | 74010300 | 18350 |
|  12.750% due 11/28/2040 | 19313300 | 5119 |
|  13.250% due 02/09/2033 | 16001700 | 4290 |
|  Costa Rica Government International Bonds | Costa Rica Government International Bonds | Costa Rica Government International Bonds |
|  5.500% due 11/21/2030 | 1500 | 1775 |
|  6.001% due 01/16/2036 | 750 | 893 |
|  Development Bank of Kazakhstan JSC | Development Bank of Kazakhstan JSC | Development Bank of Kazakhstan JSC |
|  18.400% due 10/16/2028 | 474000 | 1019 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Dominican Republic International Bonds | Dominican Republic International Bonds | Dominican Republic International Bonds | Dominican Republic International Bonds |
|  5.300% due 01/21/2041 | $| 2050 | 1749 |
|  10.500% due 03/15/2037 | DOP | 11400 | 196 |
|  10.750% due 06/01/2036 |  | 58800 | 1023 |
|  Eagle Funding Luxco SARL | Eagle Funding Luxco SARL | Eagle Funding Luxco SARL | Eagle Funding Luxco SARL |
|  5.500% due 08/17/2030 | $| 5100 | 5133 |
|  Egypt Government Bonds | Egypt Government Bonds | Egypt Government Bonds | Egypt Government Bonds |
|  19.698% due 10/14/2030 | EGP | 528000 | 9511 |
|  Israel Government International Bonds | Israel Government International Bonds | Israel Government International Bonds | Israel Government International Bonds |
|  5.375% due 03/12/2029 | $| 10500 | 10667 |
|  5.375% due 02/19/2030 |  | 5400 | 5487 |
|  Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds |
|  2.200% due 03/20/2064 | JPY | 1181000 | 5158 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.300% due 12/20/2054 |  | 2030000 | 9709 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 |  | 2710000 | 14187 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  5.400% due 02/09/2028 | $| 1000 | 1016 |
|  5.850% due 07/02/2032 |  | 1800 | 1809 |
|  6.000% due 05/13/2030 |  | 2700 | 2792 |
|  6.350% due 02/09/2035 |  | 2600 | 2663 |
|  New Zealand Government Bonds | New Zealand Government Bonds | New Zealand Government Bonds | New Zealand Government Bonds |
|  3.000% due 09/20/2030 (i) | NZD | 5921 | 3604 |
|  Peru Government Bonds | Peru Government Bonds | Peru Government Bonds | Peru Government Bonds |
|  6.850% due 08/12/2035 | PEN | 4100 | 1203 |
|  7.300% due 08/12/2033 |  | 96110 | 30262 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 |  | 42200 | 11522 |
|  6.150% due 08/12/2032 |  | 150200 | 45138 |
|  6.900% due 08/12/2037 |  | 44400 | 12687 |
|  6.950% due 08/12/2031 |  | 98246 | 30620 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  7.000% due 02/28/2031 | ZAR | 629025 | 34840 |
|  8.000% due 01/31/2030 |  | 149700 | 8752 |
|  8.250% due 03/31/2032 |  | 58600 | 3382 |
|  8.500% due 01/31/2037 |  | 280500 | 15494 |
|  8.875% due 02/28/2035 (n) |  | 316400 | 18377 |
|  9.000% due 01/31/2040 |  | 266700 | 14833 |
|  Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds |
|  4.850% due 09/30/2029 | $| 10000 | 9813 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  1.750% due 07/13/2030 | EUR | 3600 | 3667 |
|  Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds |
|  5.375% due 01/13/2031 | $| 2200 | 2249 |
|  Turkiye Government International Bonds | Turkiye Government International Bonds | Turkiye Government International Bonds | Turkiye Government International Bonds |
|  7.625% due 05/15/2034 |  | 5500 | 5600 |
|  Total Sovereign Issues (Cost $514,752) | Total Sovereign Issues (Cost $514,752) | Total Sovereign Issues (Cost $514,752) | 531964 |
|  |  | **SHARES** |  |
| COMMON STOCKS 0.0% | COMMON STOCKS 0.0% | COMMON STOCKS 0.0% | COMMON STOCKS 0.0% |
| COMMUNICATION SERVICES 0.0% | COMMUNICATION SERVICES 0.0% | COMMUNICATION SERVICES 0.0% | COMMUNICATION SERVICES 0.0% |
|  SES SA «(e) |  | 22273 | 334 |
| FINANCIALS 0.0% | FINANCIALS 0.0% | FINANCIALS 0.0% | FINANCIALS 0.0% |
|  Stichting Administratiekantoor «(e) | Stichting Administratiekantoor «(e) | 11319 | 0 |
|  Total Common Stocks (Cost $11) | Total Common Stocks (Cost $11) | Total Common Stocks (Cost $11) | 334 |
| WARRANTS 0.0% | WARRANTS 0.0% | WARRANTS 0.0% | WARRANTS 0.0% |
| ENERGY 0.0% | ENERGY 0.0% | ENERGY 0.0% | ENERGY 0.0% |
|  Constellation Oil Services Holding SA - Exp. 06/10/2071 «(l) | Constellation Oil Services Holding SA - Exp. 06/10/2071 «(l) | 1 | 0 |
|  Total Warrants (Cost $0) | Total Warrants (Cost $0) | Total Warrants (Cost $0) | 0 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **MARKET<br>VALUE<br>(000S)** |
| CONVERTIBLE PREFERRED SECURITIES 0.2% | CONVERTIBLE PREFERRED SECURITIES 0.2% | CONVERTIBLE PREFERRED SECURITIES 0.2% |
| BANKING & FINANCE 0.2% | BANKING & FINANCE 0.2% | BANKING & FINANCE 0.2% |
|  Wells Fargo & Co. |  |  |
|  7.500% | 3500 | 4043 |
|  Total Convertible Preferred Securities (Cost $4,179) | Total Convertible Preferred Securities (Cost $4,179) | 4043 |
| PREFERRED SECURITIES 0.2% | PREFERRED SECURITIES 0.2% | PREFERRED SECURITIES 0.2% |
| BANKING & FINANCE 0.2% | BANKING & FINANCE 0.2% | BANKING & FINANCE 0.2% |
|  AGFC Capital Trust I |  |  |
|  5.684% (US0003M + 1.750%) due 01/15/2067 ~ | 6600000 | 4133 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  10.250% ~ | 4096 | 694 |
|  Total Preferred Securities (Cost $4,567) | Total Preferred Securities (Cost $4,567) | 4827 |
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** |  |
| SHORT-TERM INSTRUMENTS 13.3% | SHORT-TERM INSTRUMENTS 13.3% | SHORT-TERM INSTRUMENTS 13.3% |
| COMMERCIAL PAPER 3.4% | COMMERCIAL PAPER 3.4% | COMMERCIAL PAPER 3.4% |
|  AES Corp. |  |  |
|  4.150% due 04/02/2026 | 300 | 300 |
|  4.150% due 04/13/2026 | 350 | 349 |
|  4.150% due 04/17/2026 | 400 | 399 |
|  Air Lease Corp. |  |  |
|  4.320% due 04/02/2026 | 3600 | 3599 |
|  4.350% due 04/14/2026 | 800 | 799 |
|  4.400% due 04/14/2026 | 300 | 299 |
|  Alimentation Couche-Tard, Inc. | Alimentation Couche-Tard, Inc. | Alimentation Couche-Tard, Inc. |
|  3.930% due 04/01/2026 | 750 | 750 |
|  4.050% due 04/10/2026 | 250 | 250 |
|  4.100% due 04/21/2026 | 1300 | 1297 |
|  AMETEK, Inc. |  |  |
|  3.930% due 04/06/2026 | 250 | 250 |
|  4.150% due 04/20/2026 | 950 | 948 |
|  4.150% due 04/27/2026 | 350 | 349 |
|  Boston Properties LP | Boston Properties LP | Boston Properties LP |
|  4.200% due 04/27/2026 | 1270 | 1266 |
|  CBRE Services, Inc. |  |  |
|  3.970% due 06/12/2026 | 1100 | 1091 |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  3.870% due 04/01/2026 | 3600 | 3600 |
|  3.870% due 04/02/2026 | 2000 | 2000 |
|  3.900% due 04/06/2026 | 1050 | 1049 |
|  Crown Castle, Inc. |  |  |
|  4.300% due 04/21/2026 | 800 | 798 |
|  Edison International |  |  |
|  4.380% due 04/17/2026 | 250 | 249 |
|  Electricite de France SA |  |  |
|  3.900% due 04/01/2026 | 1450 | 1450 |
|  Elevance Health, Inc. |  |  |
|  4.050% due 04/13/2026 | 700 | 699 |
|  ERAC USA Finance LLC | ERAC USA Finance LLC | ERAC USA Finance LLC |
|  3.980% due 04/10/2026 | 450 | 449 |
|  4.000% due 04/17/2026 | 450 | 449 |
|  4.150% due 04/24/2026 | 1150 | 1147 |
|  4.170% due 04/20/2026 | 1250 | 1247 |
|  4.170% due 04/23/2026 | 250 | 249 |
|  Eversource Energy |  |  |
|  4.050% due 04/09/2026 | 250 | 250 |
|  Extra Space Storage LP |  |  |
|  4.180% due 04/22/2026 | 400 | 399 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.150% due 04/09/2026 | 250 | 250 |
|  4.150% due 04/17/2026 | 2400 | 2395 |
|  4.150% due 04/20/2026 | 750 | 748 |
|  4.170% due 04/24/2026 | 250 | 249 |
|  Genuine Parts Co. |  |  |
|  4.280% due 04/06/2026 | 250 | 250 |
|  4.300% due 04/23/2026 | 350 | 349 |

---

---

| | | |
|:---|:---|:---|
| **42** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.350% due 04/23/2026 | $— | 250 | $— | 249 |
|  Glencore Funding LLC |  |  |  |  |
|  4.130% due 04/30/2026 |  | 2700 |  | 2691 |
|  4.150% due 05/04/2026 |  | 2550 |  | 2540 |
|  Global Payments, Inc. |  |  |  |  |
|  4.200% due 04/01/2026 |  | 500 |  | 500 |
|  4.200% due 04/02/2026 |  | 1150 |  | 1150 |
|  4.200% due 04/06/2026 |  | 1150 |  | 1149 |
|  4.220% due 04/02/2026 |  | 650 |  | 650 |
|  4.220% due 04/06/2026 |  | 1300 |  | 1299 |
|  4.220% due 04/07/2026 |  | 2550 |  | 2548 |
|  4.230% due 04/07/2026 |  | 1300 |  | 1299 |
|  4.250% due 04/06/2026 |  | 1350 |  | 1349 |
|  Harley-Davidson Financial Services, Inc. | Harley-Davidson Financial Services, Inc. | Harley-Davidson Financial Services, Inc. | Harley-Davidson Financial Services, Inc. | Harley-Davidson Financial Services, Inc. |
|  4.170% due 04/07/2026 |  | 350 |  | 350 |
|  4.170% due 04/08/2026 |  | 200 |  | 200 |
|  4.230% due 04/08/2026 |  | 100 |  | 100 |
|  HCA, Inc. |  |  |  |  |
|  4.150% due 04/16/2026 |  | 500 |  | 499 |
|  4.150% due 04/22/2026 |  | 550 |  | 549 |
|  4.200% due 05/11/2026 |  | 5100 |  | 5075 |
|  4.200% due 05/18/2026 |  | 1850 |  | 1839 |
|  4.250% due 05/13/2026 |  | 250 |  | 249 |
|  4.350% due 05/01/2026 |  | 1050 |  | 1046 |
|  4.380% due 04/23/2026 |  | 1800 |  | 1795 |
|  4.380% due 05/01/2026 |  | 1850 |  | 1843 |
|  Jabil, Inc. |  |  |  |  |
|  4.050% due 04/08/2026 |  | 250 |  | 250 |
|  4.050% due 04/16/2026 |  | 250 |  | 249 |
|  4.120% due 04/08/2026 |  | 2500 |  | 2498 |
|  4.150% due 05/13/2026 |  | 2050 |  | 2039 |
|  Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV |
|  3.990% due 04/08/2026 |  | 250 |  | 250 |
|  4.000% due 04/08/2026 |  | 250 |  | 250 |
|  4.250% due 04/08/2026 |  | 250 |  | 250 |
|  JTI Financial Services North America LLC | JTI Financial Services North America LLC | JTI Financial Services North America LLC | JTI Financial Services North America LLC | JTI Financial Services North America LLC |
|  3.880% due 05/04/2026 |  | 250 |  | 249 |
|  4.070% due 05/20/2026 |  | 1750 |  | 1741 |
|  Keurig Dr. Pepper, Inc. |  |  |  |  |
|  3.900% due 04/23/2026 |  | 600 |  | 598 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.910% due 04/27/2026 | $| 250 | 249 |
|  3.920% due 04/27/2026 |  | 1350 | 1346 |
|  3.970% due 04/15/2026 |  | 1850 | 1847 |
|  4.380% due 05/07/2026 |  | 350 | 348 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  3.800% due 04/07/2026 |  | 500 | 500 |
|  Phillips 66 |  |  |  |
|  4.000% due 04/01/2026 |  | 1950 | 1950 |
|  4.000% due 04/02/2026 |  | 2250 | 2249 |
|  4.050% due 04/02/2026 |  | 300 | 300 |
|  4.050% due 04/08/2026 |  | 2450 | 2448 |
|  4.150% due 04/20/2026 |  | 300 | 299 |
|  4.200% due 04/14/2026 |  | 250 | 250 |
|  4.300% due 04/24/2026 |  | 1850 | 1845 |
|  4.350% due 05/01/2026 |  | 1700 | 1694 |
|  4.360% due 05/01/2026 |  | 1600 | 1594 |
|  4.400% due 05/29/2026 |  | 2000 | 1987 |
|  Rogers Communications, Inc. | Rogers Communications, Inc. | Rogers Communications, Inc. | Rogers Communications, Inc. |
|  4.200% due 04/09/2026 |  | 700 | 699 |
|  S&P Global, Inc. |  |  |  |
|  4.000% due 04/06/2026 |  | 700 | 700 |
|  |  |  | 87870 |
| REPURCHASE AGREEMENTS (m) 9.4% | REPURCHASE AGREEMENTS (m) 9.4% | REPURCHASE AGREEMENTS (m) 9.4% | REPURCHASE AGREEMENTS (m) 9.4% |
|  |  |  | 245058 |
| EGYPT TREASURY BILLS 0.0% | EGYPT TREASURY BILLS 0.0% | EGYPT TREASURY BILLS 0.0% | EGYPT TREASURY BILLS 0.0% |
|  24.060% due 10/20/2026 (g)(h) | EGP | 8600 | 139 |
| NIGERIA TREASURY BILLS 0.5% | NIGERIA TREASURY BILLS 0.5% | NIGERIA TREASURY BILLS 0.5% | NIGERIA TREASURY BILLS 0.5% |
|  29.292% due 06/11/2026 - 01/28/2027 (f)(g) | NGN | 21316930 | 14459 |
| TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% |
|  38.693% due 04/07/2026 (f)(g) | TRY | 39000 | 871 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% |
|  3.651% due 04/07/2026 - 05/26/2026 (f)(g)(r) | 1038 | $— | 1034 |
| Total Short-Term Instruments (Cost $348,023) | Total Short-Term Instruments (Cost $348,023) |  | 349431 |
| Total Investments in Securities (Cost $4,187,121) | Total Investments in Securities (Cost $4,187,121) |  | 4030202 |
|  | **SHARES** |  |  |
| INVESTMENTS IN AFFILIATES 20.9% | INVESTMENTS IN AFFILIATES 20.9% | INVESTMENTS IN AFFILIATES 20.9% | INVESTMENTS IN AFFILIATES 20.9% |
| SHORT-TERM INSTRUMENTS 20.9% | SHORT-TERM INSTRUMENTS 20.9% | SHORT-TERM INSTRUMENTS 20.9% | SHORT-TERM INSTRUMENTS 20.9% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 20.9% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 20.9% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 20.9% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 20.9% |
|  PIMCO Short Asset Portfolio | 13217822 |  | 129733 |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 42848894 |  | 417305 |
| Total Short-Term Instruments (Cost $546,349) | Total Short-Term Instruments (Cost $546,349) |  | 547038 |
| Total Investments in Affiliates (Cost $546,349) | Total Investments in Affiliates (Cost $546,349) |  | 547038 |
| Total Investments 175.3% (Cost $4,733,470) | Total Investments 175.3% (Cost $4,733,470) | $— | 4577240 |
|  Financial Derivative<br>Instruments (o)(q) 0.8%<br> (Cost or Premiums, net $72,359) | Financial Derivative<br>Instruments (o)(q) 0.8%<br> (Cost or Premiums, net $72,359) |  | 20866 |
| Other Assets and Liabilities, net (76.1)% | Other Assets and Liabilities, net (76.1)% |  | (1986204) |
| Net Assets 100.0% | Net Assets 100.0% | $— | 2611902 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

^ Security is in default.

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Payment in-kind security.

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

(e) Security did not produce income within the last twelve months.

(f) Coupon represents a weighted average yield to maturity.

(g) Zero coupon security.

(h) Coupon represents a yield to maturity.

(i) Principal amount of security is adjusted for inflation.

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

(k) Contingent convertible security.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **43** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

&nbsp;&nbsp;&nbsp;&nbsp;(l) RESTRICTED SECURITIES:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Issuer Description | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  Constellation Oil Services Holding SA - Exp. 06/10/2071 | 06/10/2022 | $0 | $0 | 0.00% |
|  Hardwood Funding LLC 4.840% due 06/07/2028 | 03/11/2025 | 1300 | 1302 | 0.05 |
|  Hardwood Funding LLC 5.160% due 06/07/2032 | 03/11/2025 | 2400 | 2415 | 0.09 |
|  Hardwood Funding LLC 5.330% due 06/07/2035 | 03/11/2025 | 600 | 606 | 0.03 |
|  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4323 | 0.17% |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(m) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | **Principal<br>Amount** | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.150% | 03/25/2026 | 06/12/2026 | $1120 | Gray Media, Inc. 5.375% due 11/15/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1069) | $1120 | $1121 |
|  |  |  |  |  | Herc Holdings, Inc. 7.250% due 06/15/2033 | (49) |  |  |
|  | 3.250 | 03/25/2026 | 06/12/2026 | 220 | American Axle & Manufacturing, Inc. 5.000% due 10/01/2029 | (220) | 220 | 220 |
|  | 3.350 | 03/25/2026 | 06/12/2026 | 1045 | Caesars Entertainment, Inc. 4.625% due 10/15/2029 | (861) | 1045 | 1046 |
|  |  |  |  |  | Six Flags Entertainment Corp. 5.250% due 07/15/2029 | (182) |  |  |
|  | 3.410 | 03/25/2026 | 04/01/2026 | 2538 | Perrigo Finance Unlimited Co. 6.125% due 09/30/2032 | (2466) | 2538 | 2540 |
|  | 3.410 | 03/25/2026 | 06/12/2026 | 1788 | Energizer Holdings, Inc. 4.375% due 03/31/2029 | (1167) | 1788 | 1789 |
|  |  |  |  |  | Herc Holdings, Inc. 6.625% due 06/15/2029 | (596) |  |  |
|  | 3.410 | 04/01/2026 | 06/12/2026 | 2491 | Perrigo Finance Unlimited Co. 6.125% due 09/30/2032 | (2420) | 2491 | 2491 |
|  | 3.420 | 03/25/2026 | 06/12/2026 | 2795 | Marriott Ownership Resorts, Inc. 6.500% due 10/01/2033 | (1083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2797 |
|  |  |  |  |  | NCL Corp. Ltd. 5.875% due 01/15/2031 | (591) |  |  |
|  |  |  |  |  | Science Applications International Corp. 5.875% due 11/01/2033 | (1108) |  |  |
|  | 3.430 | 03/25/2026 | 06/12/2026 | 287 | Celanese U.S. Holdings LLC 7.330% due 07/15/2029 | (287) | 287 | 287 |
|  | 3.440 | 03/25/2026 | 06/12/2026 | 1112 | Commercial Metals Co. 6.000% due 12/15/2035 | (1109) | 1112 | 1113 |
|  | 3.710 | 03/31/2026 | 04/01/2026 | 4500 | U.S. Treasury Notes 4.125% due 03/31/2029 | (4596) | 4500 | 4501 |
| BRC | 3.050 | 03/18/2026 | 05/01/2026 | 1098 | ACCO Brands Corp. 4.250% due 03/15/2029 | (1075) | 1098 | 1099 |
|  | 3.050 | 03/20/2026 | 05/01/2026 | 1125 | Gray Media, Inc. 4.750% due 10/15/2030 | (1112) | 1125 | 1126 |
|  | 3.350 | 03/20/2026 | 05/01/2026 | 460 | Goodyear Tire & Rubber Co. 5.000% due 07/15/2029 | (455) | 460 | 461 |
|  | 3.380 | 03/20/2026 | 05/01/2026 | 186 | Olin Corp. 5.000% due 02/01/2030 | (187) | 186 | 186 |
|  | 3.400 | 03/20/2026 | 04/01/2026 | 523 | Perrigo Finance Unlimited Co. 6.125% due 09/30/2032 | (502) | 523 | 524 |
|  | 3.400 | 03/20/2026 | 05/01/2026 | 1317 | Goodyear Tire & Rubber Co. 4.875% due 03/15/2027 | (571) | 1317 | 1319 |
|  |  |  |  |  | Hillenbrand, Inc. 6.250% due 02/15/2029 | (374) |  |  |
|  |  |  |  |  | Organon & Co. 5.125% due 04/30/2031 | (168) |  |  |
|  |  |  |  |  | Perrigo Finance Unlimited Co. 5.150% due 06/15/2030 | (184) |  |  |
|  | 3.420 | 03/20/2026 | 05/01/2026 | 10845 | Acushnet Co. 5.625% due 12/01/2033 | (710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10857 |
|  |  |  |  |  | Celanese U.S. Holdings LLC 6.850% due 11/15/2028 | (100) |  |  |
|  |  |  |  |  | Commercial Metals Co. 5.750% due 11/15/2033 | (1111) |  |  |
|  |  |  |  |  | Herc Holdings, Inc. 5.750% due 03/15/2031 | (1087) |  |  |
|  |  |  |  |  | Kaiser Aluminum Corp. 5.875% due 03/01/2034 | (1482) |  |  |
|  |  |  |  |  | Kioxia Holdings Corp. 6.250% - 6.625% due 07/24/2030 - 07/24/2033 | (1864) |  |  |
|  |  |  |  |  | Lindblad Expeditions LLC 7.000% due 09/15/2030 | (1127) |  |  |
|  |  |  |  |  | MGM Resorts International 6.125% due 09/15/2029 | (505) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 6.750% due 02/01/2032 | (703) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 6.250% due 11/01/2034 | (1035) |  |  |
|  |  |  |  |  | Vistra Operations Co. LLC 6.875% due 04/15/2032 | (1067) |  |  |
|  | 3.430 | 03/20/2026 | 05/01/2026 | 27929 | AMC Networks, Inc. 10.500% due 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27961 |
|  |  |  |  |  | Adient Global Holdings Ltd. 7.500% due 02/15/2033 | (3268) |  |  |
|  |  |  |  |  | Advanced Drainage Systems, Inc. 5.375% due 03/01/2034 | (1079) |  |  |

---

---

| | | |
|:---|:---|:---|
| **44** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Lending<br>Rate** | **Settlement<br>Date** | **Maturity<br>Date** | **Principal<br>Amount** | **Collateralized By** | **Collateral<br>(Received)** | **Repurchase<br>Agreements,<br>at Value** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** |
|  |  |  |  |  | Amentum Holdings, Inc. 7.250% due 08/01/2032 | $(1153) |  |  |
|  |  |  |  |  | Ball Corp. 3.125% due 09/15/2031 | (1083) |  |  |
|  |  |  |  |  | Commercial Metals Co. 5.750% due 11/15/2033 | (1111) |  |  |
|  |  |  |  |  | DaVita, Inc. 3.750% - 6.875% due 02/15/2031 - 07/15/2033 | (6013) |  |  |
|  |  |  |  |  | Gray Media, Inc. 7.250% due 08/15/2033 | (2137) |  |  |
|  |  |  |  |  | Kioxia Holdings Corp. 6.250% due 07/24/2030 | (206) |  |  |
|  |  |  |  |  | Light & Wonder International, Inc. 6.250% due 10/01/2033 | (1113) |  |  |
|  |  |  |  |  | Methanex Corp. 5.125% - 5.250% due 10/15/2027 -12/15/2029 | (1923) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 5.875% due 01/15/2031 | (492) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 3.625% - 6.000% due 02/15/2031 - 01/15/2036 | (1681) |  |  |
|  |  |  |  |  | Newell Brands, Inc. 6.625% - 8.500% due 06/01/2028 - 09/15/2029 | (3176) |  |  |
|  |  |  |  |  | USA Compression Partners LP 6.250% due 10/01/2033 | (1133) |  |  |
|  |  |  |  |  | Uniti Services LLC 7.500% due 10/15/2033 | (1044) |  |  |
|  | 3.430% | 03/25/2026 | 05/01/2026 | $196 | DaVita, Inc. 4.625% due 06/01/2030 | (206) | $196 | $196 |
|  | 3.430 | 03/30/2026 | 05/01/2026 | 199 | Olin Corp. 5.000% due 02/01/2030 | (199) | 199 | 199 |
|  | 3.440 | 03/18/2026 | 05/01/2026 | 8590 | Advanced Drainage Systems, Inc. 5.375% due 03/01/2034 | (392) | 8590 | 8602 |
|  |  |  |  |  | Amentum Holdings, Inc. 7.250% due 08/01/2032 | (1146) |  |  |
|  |  |  |  |  | Asbury Automotive Group, Inc. 4.750% due 03/01/2030 | (1065) |  |  |
|  |  |  |  |  | Bath & Body Works, Inc. 5.250% due 02/01/2028 | (1104) |  |  |
|  |  |  |  |  | DaVita, Inc. 6.875% due 09/01/2032 | (309) |  |  |
|  |  |  |  |  | Edgewell Personal Care Co. 4.125% due 04/01/2029 | (1159) |  |  |
|  |  |  |  |  | Light & Wonder International, Inc. 6.250% due 10/01/2033 | (1113) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 6.000% due 01/15/2036 | (1122) |  |  |
|  |  |  |  |  | Talen Energy Supply LLC 6.500% due 02/01/2036 | (1139) |  |  |
|  | 3.440 | 03/20/2026 | 05/01/2026 | 5422 | Adient Global Holdings Ltd. 7.500% due 02/15/2033 | (455) | 5422 | 5428 |
|  |  |  |  |  | Commercial Metals Co. 5.750% due 11/15/2033 | (606) |  |  |
|  |  |  |  |  | Methanex Corp. 5.250% due 12/15/2029 | (1107) |  |  |
|  |  |  |  |  | Mineral Resources Ltd. 7.000% due 04/01/2031 | (1058) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 5.875% due 01/15/2031 | (1083) |  |  |
|  |  |  |  |  | Vistra Operations Co. LLC 4.375% due 05/01/2029 | (1095) |  |  |
|  | 3.440 | 03/25/2026 | 05/01/2026 | 13865 | AMN Healthcare, Inc. 6.500% due 01/15/2031 | (1114) | 13865 | 13874 |
|  |  |  |  |  | DaVita, Inc. 6.875% due 09/01/2032 | (928) |  |  |
|  |  |  |  |  | Howard Hughes Corp. 6.125% due 03/01/2034 | (1162) |  |  |
|  |  |  |  |  | Kodiak Gas Services LLC 6.750% due 10/01/2035 | (1155) |  |  |
|  |  |  |  |  | Light & Wonder International, Inc. 6.250% due 10/01/2033 | (607) |  |  |
|  |  |  |  |  | Murphy Oil USA, Inc. 4.750% due 09/15/2029 | (1088) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 5.750% due 01/15/2034 | (1116) |  |  |
|  |  |  |  |  | RHP Hotel Properties LP 5.750% due 03/15/2034 | (1090) |  |  |
|  |  |  |  |  | Talen Energy Supply LLC 6.250% due 02/01/2034 | (1118) |  |  |
|  |  |  |  |  | Uniti Group LP 6.500% due 02/15/2029 | (1177) |  |  |
|  |  |  |  |  | WESCO Distribution, Inc. 5.250% - 5.500% due 04/15/2031 - 04/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2193) |  |  |
|  |  |  |  |  | Wyndham Hotels & Resorts, Inc. 5.625% due 03/01/2033 | (1089) |  |  |
|  | 3.440 | 04/01/2026 | 05/01/2026 | 3763 | Amkor Technology, Inc. 5.875% due 10/01/2033 | (308) | 3763 | 3763 |
|  |  |  |  |  | Asbury Automotive Group, Inc. 4.625% due 11/15/2029 | (1182) |  |  |
|  |  |  |  |  | Moog, Inc. 5.500% due 10/15/2034 | (1107) |  |  |
|  |  |  |  |  | WESCO Distribution, Inc. 5.500% due 04/15/2034 | (1191) |  |  |
|  | 6.800 | 03/30/2026 | TBD<sup>(2)</sup> | 301578 | Republic of South Africa Government Bonds 8.750% due 02/28/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17829 |
| BYR | 3.400 | 03/20/2026 | 05/01/2026 | $1580 | AdaptHealth LLC 4.625% due 08/01/2029 | (190) | 1580 | 1582 |
|  |  |  |  |  | Energizer Holdings, Inc. 4.375% due 03/31/2029 | (1167) |  |  |
|  |  |  |  |  | Perrigo Finance Unlimited Co. 5.150% due 06/15/2030 | (184) |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **45** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Lending<br>Rate** | **Settlement<br>Date** | **Maturity<br>Date** | **Principal<br>Amount** | **Collateralized By** | **Collateral<br>(Received)** | **Repurchase<br>Agreements,<br>at Value** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** |
| DEU | 2.500% | 03/20/2026 | 05/01/2026 | $1753 | Goodyear Tire & Rubber Co. 5.625% due 04/30/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1712) | $1753 | $1754 |
|  |  |  |  | 341 | Service Properties Trust 4.375% due 2/15/2030 | (356) | 340 | 341 |
|  | 3.150 | 03/25/2026 | 04/01/2026 | 528 | Owens-Brockway Glass Container, Inc. 7.250% due 05/15/2031 | (518) | 528 | 528 |
|  | 3.200 | 03/31/2026 | 05/01/2026 | 1779 | Hillenbrand, Inc. 6.250% due 02/15/2029 | (1777) | 1779 | 1779 |
|  | 3.380 | 03/20/2026 | 05/01/2026 | 2419 | Goodyear Tire & Rubber Co. 5.000% due 07/15/2029 | (2394) | 2419 | 2422 |
|  | 3.400 | 03/20/2026 | 03/31/2026 | 0 | Chemours Co. 5.380% due 05/15/2027 | (2909) | 0 | 5 |
|  | 3.400 | 03/20/2026 | 05/01/2026 | 2599 | Celanese U.S. Holdings LLC 7.330% due 07/15/2029 | (1590) | 2599 | 2604 |
|  | 3.410 | 03/20/2026 | 05/01/2026 | 4640 | Concentra Health Services, Inc. 6.875% due 07/15/2032 | (1128) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4645 |
|  |  |  |  |  | MGM Resorts International 4.750% due 10/15/2028 | (1004) |  |  |
|  |  |  |  |  | Marriott Ownership Resorts, Inc. 6.500% due 10/01/2033 | (394) |  |  |
|  |  |  |  |  | Six Flags Entertainment Corp. 5.250% due 07/15/2029 | (968) |  |  |
|  |  |  |  |  | WESCO Distribution, Inc. 6.375% due 03/15/2033 | (1125) |  |  |
| GSC | 3.300 | 12/12/2025 | TBD<sup>(2)</sup> | 398 | Acadia Healthcare Co., Inc. 7.000% due 08/01/2032 | (390) | 398 | 402 |
| JPS | 3.400 | 03/20/2026 | 05/01/2026 | 1574 | MGM Resorts International 6.125% due 09/15/2029 | (1135) | 1574 | 1576 |
|  |  |  |  |  | NESCO Holdings, Inc. 5.500% due 04/15/2029 | (432) |  |  |
|  | 3.410 | 03/20/2026 | 05/01/2026 | 1206 | Energizer Holdings, Inc. 4.375% due 03/31/2029 | (310) | 1206 | 1207 |
|  |  |  |  |  | MGM Resorts International 6.125% due 09/15/2029 | (883) |  |  |
|  | 3.420 | 03/20/2026 | 05/01/2026 | 7211 | Amkor Technology, Inc. 5.875% due 10/01/2033 | (1129) | 7211 | 7219 |
|  |  |  |  |  | Chemours Co. 5.750% due 11/15/2028 | (1114) |  |  |
|  |  |  |  |  | Methanex Corp. 5.125% due 10/15/2027 | (1018) |  |  |
|  |  |  |  |  | Methanex U.S. Operations, Inc. 6.250% due 03/15/2032 | (513) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 6.000% due 02/01/2033 | (1112) |  |  |
|  |  |  |  |  | Science Applications International Corp. 5.875% due 11/01/2033 | (1108) |  |  |
|  |  |  |  |  | Vistra Operations Co. LLC 6.875% due 04/15/2032 | (1174) |  |  |
|  | 3.430 | 03/20/2026 | 05/01/2026 | 3348 | Goodyear Tire & Rubber Co. 5.250% due 07/15/2031 | (1201) | 3348 | 3352 |
|  |  |  |  |  | Herc Holdings, Inc. 6.000% - 7.000% due 06/15/2030 - 03/15/2034 | (2114) |  |  |
| MSC | 1.250 | 03/20/2026 | 04/01/2026 | 323 | Service Properties Trust 4.375% due 02/15/2030 | (335) | 323 | 324 |
|  | 2.500 | 03/20/2026 | 05/01/2026 | 905 | Sally Holdings LLC 6.750% due 04/01/2032 | (901) | 905 | 905 |
|  | 2.500 | 03/25/2026 | 05/01/2026 | 827 | Sally Holdings LLC 6.750% due 04/01/2032 | (826) | 827 | 827 |
|  | 2.750 | 03/20/2026 | 05/01/2026 | 1107 | Six Flags Entertainment Corp. 7.250% due 05/15/2031 | (1090) | 1107 | 1108 |
|  | 3.000 | 03/20/2026 | 04/01/2026 | 417 | MGM Resorts International 6.500% due 04/15/2032 | (416) | 417 | 417 |
|  | 3.000 | 03/25/2026 | 04/01/2026 | 511 | MGM Resorts International 6.500% due 04/15/2032 | (509) | 511 | 511 |
|  | 3.130 | 03/31/2026 | 04/01/2026 | 822 | Clear Channel Outdoor Holdings, Inc. 7.500% due 06/01/2029 | (824) | 822 | 822 |
|  | 3.250 | 03/20/2026 | 04/01/2026 | 199 | Owens-Brockway Glass Container, Inc. 7.250% due 05/15/2031 | (197) | 199 | 199 |
|  | 3.250 | 03/20/2026 | 05/01/2026 | 2178 | Service Properties Trust 4.950% due 10/01/2029 | (2236) | 2178 | 2180 |
|  | 3.300 | 03/20/2026 | 05/01/2026 | 4334 | Caesars Entertainment, Inc. 4.625% due 10/15/2029 | (4328) | 4334 | 4339 |
|  | 3.350 | 03/20/2026 | 05/01/2026 | 2274 | Central Garden & Pet Co. 4.125% due 10/15/2030 | (2257) | 2274 | 2277 |
|  | 3.400 | 03/20/2026 | 05/01/2026 | 1156 | Kioxia Holdings Corp. 6.625% due 07/24/2033 | (1145) | 1156 | 1157 |
|  | 3.420 | 03/20/2026 | 05/01/2026 | 9278 | Chemours Co. 5.750% due 11/15/2028 | (228) | 9278 | 9289 |
|  |  |  |  |  | Concentra Health Services, Inc. 6.875% due 07/15/2032 | (1155) |  |  |
|  |  |  |  |  | HLF Financing SARL LLC 4.875% due 06/01/2029 | (2382) |  |  |
|  |  |  |  |  | Herc Holdings, Inc. 7.250% due 06/15/2033 | (314) |  |  |
|  |  |  |  |  | Kioxia Holdings Corp. 6.250% due 07/24/2030 | (1029) |  |  |
|  |  |  |  |  | Marriott Ownership Resorts, Inc. 6.500% due 10/01/2033 | (1107) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 6.250% - 6.750% due 02/01/2032 - 09/15/2033 | (2368) |  |  |
|  |  |  |  |  | Newell Brands, Inc. 8.500% due 06/01/2028 | (690) |  |  |
|  | 3.420 | 03/25/2026 | 05/01/2026 | 532 | Nabors Industries, Inc. 9.125% due 01/31/2030 | (533) | 532 | 532 |
|  | 3.430 | 03/20/2026 | 05/01/2026 | 3956 | Chemours Co. 4.625% - 5.750% due 11/15/2028 - 11/15/2029 | (2829) | 3956 | 3961 |
|  |  |  |  |  | NRG Energy, Inc. 6.250% due 11/01/2034 | (1138) |  |  |
| NOM | 3.420 | 03/20/2026 | 05/01/2026 | 4506 | Avient Corp. 6.250% due 11/01/2031 | (207) | 4506 | 4511 |
|  |  |  |  |  | Methanex U.S. Operations, Inc. 6.250% due 03/15/2032 | (821) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 6.250% due 09/15/2033 | (2167) |  |  |
|  |  |  |  |  | NESCO Holdings, Inc. 5.500% due 04/15/2029 | (201) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 6.000% due 02/01/2033 | (1112) |  |  |
|  | 3.430 | 03/20/2026 | 05/01/2026 | 1139 | Avient Corp. 6.250% due 11/01/2031 | (1137) | 1139 | 1140 |

---

---

| | | |
|:---|:---|:---|
| **46** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Lending<br>Rate** | **Settlement<br>Date** | **Maturity<br>Date** | **Principal<br>Amount** | **Collateralized By** | **Collateral<br>(Received)** | **Repurchase<br>Agreements,<br>at Value** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** |
|  | 3.450% | 03/20/2026 | 05/01/2026 | $1894 | Herc Holdings, Inc. 5.750% - 6.000% due 03/15/2031 - 03/15/2034 | $(1174) | $1894 | $1896 |
|  |  |  |  |  | Lindblad Expeditions LLC 7.000% due 09/15/2030 | (307) |  |  |
|  |  |  |  |  | NRG Energy, Inc. 6.000% due 02/01/2033 | (404) |  |  |
|  | 3.500 | 03/20/2026 | 05/01/2026 | 1117 | Commercial Metals Co. 6.000% due 12/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1109) | 1117 | 1118 |
| RDR | 2.850 | 03/25/2026 | 04/01/2026 | 870 | Select Medical Corp. 6.250% due 12/01/2032 | (877) | 870 | 871 |
|  | 2.850 | 04/01/2026 | 05/01/2026 | 387 | Select Medical Corp. 6.250% due 12/01/2032 | (392) | 387 | 387 |
|  | 2.950 | 03/20/2026 | 05/01/2026 | 346 | Goodyear Tire & Rubber Co. 5.625% due 04/30/2033 | (338) | 346 | 346 |
|  | 3.100 | 03/20/2026 | 05/01/2026 | 204 | Gray Media, Inc. 5.375% due 11/15/2031 | (202) | 204 | 204 |
|  | 3.250 | 03/20/2026 | 05/01/2026 | 2959 | American Axle & Manufacturing, Inc. 5.000% due 10/01/2029 | (2939) | 2959 | 2962 |
|  | 3.400 | 03/20/2026 | 04/01/2026 | 198 | Sonic Automotive, Inc. 4.625% due 11/15/2029 | (198) | 198 | 198 |
|  | 3.400 | 03/20/2026 | 05/01/2026 | 11937 | AdaptHealth LLC 4.625% due 08/01/2029 | (189) | 11937 | 11951 |
|  |  |  |  |  | Adient Global Holdings Ltd. 7.500% due 02/15/2033 | (184) |  |  |
|  |  |  |  |  | Bath & Body Works, Inc. 6.625% due 10/01/2030 | (2608) |  |  |
|  |  |  |  |  | Energizer Holdings, Inc. 4.375% - 6.000% due 03/31/2029 - 09/15/2033 | (1820) |  |  |
|  |  |  |  |  | Herc Holdings, Inc. 7.250% due 06/15/2033 | (209) |  |  |
|  |  |  |  |  | Masterbrand, Inc. 7.000% due 07/15/2032 | 0 |  |  |
|  |  |  |  |  | NESCO Holdings, Inc. 5.500% due 04/15/2029 | (75) |  |  |
|  |  |  |  |  | Newell Brands, Inc. 8.500% due 06/01/2028 | (1141) |  |  |
|  |  |  |  |  | Organon & Co. 5.125% due 04/30/2031 | (4334) |  |  |
|  | 3.400 | 03/31/2026 | 05/01/2026 | 711 | Masterbrand, Inc. 7.000% due 07/15/2032 | (1853) | 711 | 711 |
| SAL | 3.000 | 03/20/2026 | 05/01/2026 | 3662 | ACCO Brands Corp. 4.250% due 03/15/2029 | (508) | 3662 | 3666 |
|  |  |  |  |  | Gray Media, Inc. 4.750% due 10/15/2030 | (1112) |  |  |
|  |  |  |  |  | Olin Corp. 5.000% due 02/01/2030 | (2031) |  |  |
|  | 3.125 | 04/01/2026 | 05/01/2026 | 1068 | Uniti Group LP 6.500% due 02/15/2029 | (1079) | 1068 | 1068 |
|  | 3.130 | 03/30/2026 | 05/01/2026 | 1870 | Clear Channel Outdoor Holdings, Inc. 7.500% due 06/01/2029 | (1874) | 1870 | 1870 |
|  | 3.150 | 03/30/2026 | 05/01/2026 | 522 | Herc Holdings, Inc. 7.250% due 06/15/2033 | (524) | 522 | 522 |
|  | 3.250 | 03/25/2026 | 04/01/2026 | 297 | Sonic Automotive, Inc. 4.625% due 11/15/2029 | (296) | 297 | 297 |
|  | 3.250 | 03/20/2026 | 05/01/2026 | 1672 | Energizer Holdings, Inc. 6.000% due 09/15/2033 | (658) | 1672 | 1674 |
|  |  |  |  |  | Marriott Ownership Resorts, Inc. 4.500% due 06/15/2029 | (385) |  |  |
|  |  |  |  |  | Methanex U.S. Operations, Inc. 6.250% due 03/15/2032 | (616) |  |  |
|  | 3.400 | 03/20/2026 | 05/01/2026 | 22275 | Acadia Healthcare Co., Inc. 5.000% due 04/15/2029 | (958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22300 |
|  |  |  |  |  | Celanese U.S. Holdings LLC 6.850% due 11/15/2028 | (532) |  |  |
|  |  |  |  |  | Cinemark USA, Inc. 7.000% due 08/01/2032 | (2080) |  |  |
|  |  |  |  |  | Goodyear Tire & Rubber Co. 4.875% due 03/15/2027 | (2780) |  |  |
|  |  |  |  |  | Herc Holdings, Inc. 6.625% due 06/15/2029 | (3213) |  |  |
|  |  |  |  |  | MGM Resorts International 4.750% due 10/15/2028 | (2321) |  |  |
|  |  |  |  |  | NESCO Holdings, Inc. 5.500% due 04/15/2029 | (3615) |  |  |
|  |  |  |  |  | Perrigo Finance Unlimited Co. 5.150% due 06/15/2030 | (2803) |  |  |
|  |  |  |  |  | Rogers Communications, Inc. 7.000% due 04/15/2055 | (1498) |  |  |
|  |  |  |  |  | Six Flags Entertainment Corp. 5.250% due 07/15/2029 | (1065) |  |  |
|  |  |  |  |  | Terex Corp. 6.250% due 10/15/2032 | (1114) |  |  |
|  |  |  |  |  | WESCO Distribution, Inc. 6.375% due 03/15/2033 | (153) |  |  |
|  | 3.410 | 03/20/2026 | 05/01/2026 | 1615 | Forvia SE 6.750% due 09/15/2033 | (1078) | 1615 | 1617 |
|  |  |  |  |  | Lindblad Expeditions LLC 7.000% due 09/15/2030 | (512) |  |  |
|  | 3.420 | 03/20/2026 | 05/01/2026 | 7458 | AdaptHealth LLC 4.625% due 08/01/2029 | (1057) | 7458 | 7467 |
|  |  |  |  |  | Amneal Pharmaceuticals LLC 6.875% due 08/01/2032 | (1172) |  |  |
|  |  |  |  |  | Carpenter Technology Corp. 5.625% due 03/01/2034 | (1096) |  |  |
|  |  |  |  |  | Graphic Packaging International LLC 3.750% due 02/01/2030 | (1110) |  |  |
|  |  |  |  |  | Kioxia Holdings Corp. 6.625% due 07/24/2033 | (1041) |  |  |
|  |  |  |  |  | NCL Corp. Ltd. 5.875% due 01/15/2031 | (1182) |  |  |
|  |  |  |  |  | Vistra Operations Co. LLC 6.875% due 04/15/2032 | (747) |  |  |
|  | 3.430 | 03/20/2026 | 05/01/2026 | 8206 | Ball Corp. 6.000% due 06/15/2029 | (1134) | 8206 | 8215 |
|  |  |  |  |  | Celanese U.S. Holdings LLC 7.379% due 07/15/2032 | (3035) |  |  |
|  |  |  |  |  | Commercial Metals Co. 6.000% due 12/15/2035 | (605) |  |  |
|  |  |  |  |  | DaVita, Inc. 4.625% due 06/01/2030 | (1173) |  |  |
|  |  |  |  |  | Six Flags Entertainment Corp. 8.625% due 01/15/2032 | (1123) |  |  |
|  |  |  |  |  | TopBuild Corp. 5.625% due 01/31/2034 | (1110) |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **47** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Lending<br>Rate** | **Settlement<br>Date** | **Maturity<br>Date** | **Principal<br>Amount** | **Collateralized By** | **Collateral<br>(Received)** | **Repurchase<br>Agreements,<br>at Value** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** |
|  | 3.430% | 03/25/2026 | 05/01/2026 | 715 | Acushnet Co. 5.625% due 12/01/2033 | $(710) | $715 | $716 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(247122) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245058 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245300 |

---

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(3)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(3)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOS | 3.250% | 03/25/2026 | 06/12/2026 | $(1629) | $(1630) |
|  | 3.500 | 03/25/2026 | 06/12/2026 | (3602) | (3604) |
|  BRC | 0.250 | 04/01/2026 | TBD<sup>(4)</sup> | (2395) | (2768) |
|  | 0.650 | 01/27/2026 | 04/01/2026 | (2389) | (2764) |
|  | 6.700 | 03/30/2026 | TBD<sup>(4)</sup> | (301577) | (17829) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28595) |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales<sup>(5)</sup> |
|  Corporate Bonds & Notes (8.0)% | Corporate Bonds & Notes (8.0)% | Corporate Bonds & Notes (8.0)% | Corporate Bonds & Notes (8.0)% | Corporate Bonds & Notes (8.0)% | Corporate Bonds & Notes (8.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance (0.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard Hughes Corp. | 6.125% | 03/01/2034 | $1200 | $(1155) | $(1162) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp. | 5.750 | 03/15/2034 | 1100 | (1087) | (1090) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust | 4.950 | 10/01/2029 | 2400 | (1998) | (2236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Banking & Finance |  |  |  | (4240) | (4488) |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% | &nbsp;&nbsp;&nbsp;&nbsp; Industrials (7.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. | 5.000% | 04/15/2029 | 960 | (927) | (958) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 4.250 | 03/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1582) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acushnet Co. | 5.625 | 12/01/2033 | 1400 | (1405) | (1420) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AdaptHealth LLC | 4.625 | 08/01/2029 | 1495 | (1403) | (1437) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd. | 7.500 | 02/15/2033 | 3825 | (3806) | (3907) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. | 5.375 | 03/01/2034 | 1500 | (1495) | (1471) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMC Networks, Inc. | 10.500 | 07/15/2032 | 1171 | (1194) | (1183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings, Inc. | 7.250 | 08/01/2032 | 2200 | (2293) | (2305) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. | 5.000 | 10/01/2029 | 3225 | (2927) | (3159) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amkor Technology, Inc. | 5.875 | 10/01/2033 | 1400 | (1417) | (1430) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMN Healthcare, Inc. | 6.500 | 01/15/2031 | 1100 | (1071) | (1114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC | 6.875 | 08/01/2032 | 1125 | (1176) | (1172) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. | 4.750 | 03/01/2030 | 1100 | (1064) | (1065) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avient Corp. | 6.250 | 11/01/2031 | 1300 | (1327) | (1344) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | 3.125 | 09/15/2031 | 1200 | (1109) | (1083) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | 6.000 | 06/15/2029 | 1100 | (1130) | (1134) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | 5.250 | 02/01/2028 | 1100 | (1097) | (1109) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | 6.625 | 10/01/2030 | 3250 | (3329) | (3390) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. | 4.625 | 10/15/2029 | 5275 | (4947) | (5189) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | 5.625 | 03/01/2034 | 1100 | (1115) | (1096) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.850 | 11/15/2028 | 593 | (621) | (632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 7.330 | 07/15/2029 | 1771 | (1842) | (1877) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 7.379 | 07/15/2032 | 2862 | (2957) | (3035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | 4.125 | 10/15/2030 | 2350 | (2219) | (2257) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemours Co. | 4.625 | 11/15/2029 | 1900 | (1783) | (1817) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemours Co. | 5.750 | 11/15/2028 | 2325 | (2281) | (2354) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cinemark USA, Inc. | 7.000 | 08/01/2032 | 2375 | (2449) | (2470) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp. | 4.875 | 07/01/2029 | 140 | (132) | (123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. | 7.500 | 06/01/2029 | 1820 | (1654) | (1874) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Co. | 5.750 | 11/15/2033 | 2800 | (2843) | (2829) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Co. | 6.000 | 12/15/2035 | 2800 | (2855) | (2822) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Concentra Health Services, Inc. | 6.875 | 07/15/2032 | 2175 | (2251) | (2283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc. | 3.750 | 02/15/2031 | 3500 | (3280) | (3228) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc. | 4.625 | 06/01/2030 | 1400 | (1369) | (1369) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc. | 6.750 | 07/15/2033 | 1100 | (1143) | (1136) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc. | 6.875 | 09/01/2032 | 2800 | (2897) | (2887) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. | 4.125 | 04/01/2029 | 1200 | (1139) | (1159) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | 4.375 | 03/31/2029 | 3676 | (3507) | (3581) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | 6.000 | 09/15/2033 | 1825 | (1799) | (1716) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forvia SE | 6.750 | 09/15/2033 | 1100 | (1115) | (1078) |

---

---

| | | |
|:---|:---|:---|
| **48** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Coupon** | **Maturity<br>Date** | **Principal<br>Amount** | **Proceeds** | **Payable for<br>Short Sales<sup>(5)</sup>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. | 4.875% | 03/15/2027 | $3375 | $(3352) | $(3351) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. | 5.000 | 07/15/2029 | 2975 | (2865) | (2849) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. | 5.250 | 07/15/2031 | 1325 | (1251) | (1201) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. | 5.625 | 04/30/2033 | 2275 | (2137) | (2050) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International LLC | 3.750 | 02/01/2030 | 1200 | (1138) | (1110) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Media, Inc. | 4.750 | 10/15/2030 | 2800 | (2259) | (2225) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Media, Inc. | 5.375 | 11/15/2031 | 1664 | (1168) | (1271) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Media, Inc. | 7.250 | 08/15/2033 | 2100 | (2173) | (2137) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 5.750 | 03/15/2031 | 1600 | (1620) | (1581) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 6.000 | 03/15/2034 | 1800 | (1821) | (1747) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 6.625 | 06/15/2029 | 3675 | (3738) | (3809) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 7.000 | 06/15/2030 | 1000 | (1046) | (1047) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 7.250 | 06/15/2033 | 1047 | (1094) | (1096) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand, Inc. | 6.250 | 02/15/2029 | 2300 | (2331) | (2151) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HLF Financing SARL LLC/Herbalife International, Inc. | 4.875 | 06/01/2029 | 2500 | (2255) | (2382) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | 5.875 | 03/01/2034 | 1500 | (1496) | (1482) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. | 0.000 | 07/01/2030 | 5100 | (5248) | (5285) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC | 6.750 | 10/01/2035 | 1100 | (1117) | (1161) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International, Inc. | 6.250 | 10/01/2033 | 2800 | (2763) | (2836) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lindblad Expeditions LLC | 7.000 | 09/15/2030 | 1900 | (1972) | (1947) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc. | 4.500 | 06/15/2029 | 400 | (384) | (385) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marriott Ownership Resorts, Inc. | 6.500 | 10/01/2033 | 2625 | (2596) | (2590) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterbrand, Inc. | 7.000 | 07/15/2032 | 1891 | (1929) | (1877) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Methanex Corp. | 5.125 | 10/15/2027 | 2000 | (2002) | (2036) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Methanex Corp. | 5.250 | 12/15/2029 | 2000 | (2015) | (2012) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Methanex U.S. Operations, Inc. | 6.250 | 03/15/2032 | 1900 | (1928) | (1950) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | 4.750 | 10/15/2028 | 3312 | (3278) | (3324) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | 6.125 | 09/15/2029 | 2500 | (2554) | (2523) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources Ltd. | 7.000 | 04/01/2031 | 1000 | (1047) | (1058) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc. | 4.750 | 09/15/2029 | 1100 | (1082) | (1088) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries, Inc. | 9.125 | 01/31/2030 | 500 | (525) | (533) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd. | 5.875 | 01/15/2031 | 3400 | (3383) | (3348) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd. | 6.250 | 09/15/2033 | 3625 | (3647) | (3530) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd. | 6.750 | 02/01/2032 | 1700 | (1741) | (1708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NESCO Holdings II, Inc. | 5.500 | 04/15/2029 | 4305 | (4080) | (4323) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 6.625 | 09/15/2029 | 1400 | (1421) | (1372) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 8.500 | 06/01/2028 | 3425 | (3611) | (3634) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olin Corp. | 5.000 | 02/01/2030 | 2500 | (2392) | (2417) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV | 5.125 | 04/30/2031 | 5375 | (4686) | (4501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. | 5.150 | 06/15/2030 | 3450 | (3340) | (3171) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. | 6.125 | 09/30/2032 | 2650 | (2652) | (2421) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc. | 7.000 | 04/15/2055 | 1445 | (1461) | (1498) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc. | 6.750 | 04/01/2032 | 1675 | (1711) | (1725) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Science Applications International Corp. | 5.875 | 11/01/2033 | 2200 | (2190) | (2216) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Select Medical Corp. | 6.250 | 12/01/2032 | 400 | (398) | (390) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. | 7.250 | 05/15/2031 | 1100 | (1071) | (1090) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp. | 5.250 | 07/15/2029 | 2288 | (2231) | (2215) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium Operations LLC | 8.625 | 01/15/2032 | 1100 | (1111) | (1123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terex Corp. | 6.250 | 10/15/2032 | 1075 | (1072) | (1114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TopBuild Corp. | 5.625 | 01/31/2034 | 1100 | (1101) | (1110) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniti Services LLC | 7.500 | 10/15/2033 | 1000 | (1042) | (1044) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression Finance Corp. | 6.250 | 10/01/2033 | 1100 | (1118) | (1134) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. | 5.250 | 04/15/2031 | 1100 | (1089) | (1102) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. | 5.500 | 04/15/2034 | 2300 | (2263) | (2283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. | 6.375 | 03/15/2033 | 1250 | (1293) | (1278) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 5.625 | 03/01/2033 | 1100 | (1087) | (1089) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Industrials |  |  |  | (189365) | (190005) |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities (0.6)% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 3.625% | 02/15/2031 | 500 | (469) | (463) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 5.750 | 01/15/2034 | 2200 | (2189) | (2232) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 6.000 | 02/01/2033 | 2600 | (2639) | (2628) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 6.000 | 01/15/2036 | 1200 | (1215) | (1225) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 6.250 | 11/01/2034 | 2100 | (2155) | (2173) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply LLC | 6.250 | 02/01/2034 | 1100 | (1092) | (1118) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply LLC | 6.500 | 02/01/2036 | 1100 | (1114) | (1139) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC | 6.500 | 02/15/2029 | 2300 | (2213) | (2255) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC | 4.375 | 05/01/2029 | 1100 | (1087) | (1095) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC | 6.875 | 04/15/2032 | 2800 | (2922) | (2988) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Utilities |  |  |  | (17095) | (17316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds & Notes |  |  |  | (210700) | (211809) |

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See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 49

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Coupon** | **Maturity<br>Date** | **Principal<br>Amount** | **Proceeds** | **Payable for<br>Short Sales<sup>(5)</sup>** |
|  U.S. Government Agencies (5.9)% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. | 4.625% | 11/15/2029 | $1200 | $(1155) | $(1182) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moog, Inc. | 5.500 | 10/15/2034 | 1100 | (1099) | (1107) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 04/01/2056 | 19000 | (15634) | (15308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 05/01/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126000 | (100938) | (101465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.000 | 05/01/2056 | 37000 | (35271) | (34889) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Government Agencies |  |  |  | (154097) | (153951) |
|  Total Short Sales (13.9)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364797) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(365760) |

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#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions | Payable for<br>Short Sales<sup>(5)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/<br>(Received) | Net Exposure<sup>(6)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOS | $17905 | $(5234) | $0 | $0 | $12671 | $(12656) | $15 |
|  BRC | 93424 | (23361) | 0 | 0 | 70063 | (73443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3380) |
|  BYR | 1582 | 0 | 0 | 0 | 1582 | (1541) | 41 |
|  DEU | 14078 | 0 | 0 | 0 | 14078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15875) | (1797) |
|  GSC | 402 | 0 | 0 | 0 | 402 | (390) | 12 |
|  JPS | 13354 | 0 | 0 | 0 | 13354 | (13312) | 42 |
|  MSC | 28848 | 0 | 0 | 0 | 28848 | (29507) | (659) |
|  NOM | 8665 | 0 | 0 | 0 | 8665 | (8638) | 27 |
|  RDR | 17630 | 0 | 0 | 0 | 17630 | (17614) | 16 |
|  SAL | 49412 | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49412 | (49821) | (409) |
|  Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  BCY | 0 | 0 | 0 | (63920) | (63920) | 0 | (63920) |
|  BOS | 0 | 0 | 0 | (27353) | (27353) | 0 | (27353) |
|  DEU | 0 | 0 | 0 | (1058) | (1058) | 0 | (1058) |
|  GSC | 0 | 0 | 0 | (21353) | (21353) | 0 | (21353) |
|  JEF | 0 | 0 | 0 | (16976) | (16976) | 0 | (16976) |
|  JPS | 0 | 0 | 0 | (5035) | (5035) | 0 | (5035) |
|  MJR | 0 | 0 | 0 | (1159) | (1159) | 0 | (1159) |
|  MSC | 0 | 0 | 0 | (28322) | (28322) | 0 | (28322) |
|  MTF | 0 | 0 | 0 | (2216) | (2216) | 0 | (2216) |
|  PER | 0 | 0 | 0 | (10143) | (10143) | 0 | (10143) |
|  RDR | 0 | 0 | 0 | (4569) | (4569) | 0 | (4569) |
|  SAL | 0 | 0 | 0 | (5624) | (5624) | 0 | (5624) |
|  UBS | 0 | 0 | 0 | (2628) | (2628) | 0 | (2628) |
|  WFS | 0 | 0 | 0 | (23742) | (23742) | 0 | (23742) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28595) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214098) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  Corporate Bonds & Notes | $0 | $0 | $(5234) | $0 | $(5234) |
|  Non-Agency Mortgage-Backed Securities | (2764) | 0 | 0 | 0 | (2764) |
|  Sovereign Issues | 0 | 0 | 0 | (17829) | (17829) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2764) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5234) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17829) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25827) |
|  Payable for reverse repurchase agreements<sup>(7)</sup> | Payable for reverse repurchase agreements<sup>(7)</sup> | Payable for reverse repurchase agreements<sup>(7)</sup> | Payable for reverse repurchase agreements<sup>(7)</sup> | Payable for reverse repurchase agreements<sup>(7)</sup> | $(25827) |

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50 PIMCO BOND FUNDS See Accompanying Notes

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March 31, 2026

(n) Securities with an aggregate market value of $28,851 has been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> Open maturity repurchase agreement.

<sup>(3)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(14512) at a weighted average interest rate of 5.161%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(4)</sup> Open maturity reverse repurchase agreement.

<sup>(5)</sup> Payable for short sales includes $(3454) of accrued interest. 

<sup>(6)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(7)</sup> Unsettled reverse repurchase agreements liability of $(2768) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(o) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### PURCHASED OPTIONS:

#### FUTURE STYLED COMMODITY OPTIONS<sup>(1)</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Cost | Market<br>Value |
|  Call - CBOE California Carbon Allowances December 2026 Futures | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45.000 | 12/15/2026 | 276 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | $450 | $21 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |

---

#### WRITTEN OPTIONS:

#### FUTURE STYLED OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS<sup>(1)</sup>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | **Notional**<br> **Amount** | Premiums<br>(Received) | Market<br>Value |
|  Put - Eurex Euro-Bund 10-Year Bond April Futures | EUR | 125.500 | 04/24/2026 | 15 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | $(6) | $(16) |
|  Call - Eurex Euro-Bund 10-Year Bond April Futures |  | 128.000 | 04/24/2026 | 15 | 15 | (5) | (2) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) |

---

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | **Notional**<br> **Amount** | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $110.000 | 04/24/2026 | 42 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | $(15) | $(16) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 42 | 42 | (10) | (5) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month EURIBOR December Futures  | 12/2026 | 918 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257787 | $(842) | $0 | $0 |
|  3-Month SOFR Active Contract June Futures  | 09/2026 | 316 | 76105 | (324) | 12 | 0 |
|  3-Month SOFR Active Contract March Futures  | 06/2026 | 316 | 76097 | (301) | 4 | 0 |
|  3-Month SONIA March Futures  | 06/2027 | 439 | 138932 | 203 | 181 | 0 |
|  California Carbon Allowance Vintage December Futures  | 12/2026 | 1389 | 40100 | (4157) | 0 | (361) |
|  Canada Government 10-Year Bond June Futures  | 06/2026 | 215 | 18548 | (317) | 74 | 0 |
|  Long Guilt June Futures  | 06/2026 | 210 | 24402 | (1317) | 183 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 3607 | 748255 | (5520) | 282 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 4157 | 449703 | (6041) | 585 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 2176 | 241638 | (3222) | 510 | 0 |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 643 | 74950 | (2459) | 141 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24297) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(361) |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Bobl June Futures  | 06/2026 | 165 | $(22014) | $413 | $0 | $(88) |
|  Euro-Bund June Futures  | 06/2026 | 334 | (48407) | 1293 | 0 | (351) |
|  Euro-Schatz June Futures  | 06/2026 | 389 | (47548) | 458 | 2 | (63) |
|  Japan Government 10-Year Bond June Futures  | 06/2026 | 120 | (98530) | 1170 | 23 | (212) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 4329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(491409) | 10954 | 0 | (1285) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 735 | (83698) | 2548 | 0 | (276) |
|  |  |  |  | $16836 | $25 | $(2275) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7461) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2636) |

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See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 51

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  Boeing Co. | 1.000% | Quarterly | 12/20/2026 | 0.255% | $7000 | $86 | $(46) | $40 | $1 | $0 |
|  Boeing Co. | 1.000 | Quarterly | 06/20/2027 | 0.319 | 400 | 5 | (1) | 4 | 0 | 0 |
|  Deutsche Bank | 1.000 | Quarterly | 12/20/2030 | 0.947 | 1700 | 19 | (14) | 5 | 1 | 0 |
|  General Motors Co. | 5.000 | Quarterly | 12/20/2026 | 0.292 | $630 | 67 | (45) | 22 | 0 | 0 |
|  Goldman Sachs Group, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.312 | 700 | 4 | (3) | 1 | 0 | 0 |
|  Lloyds Banking Group PLC | 1.000 | Quarterly | 12/20/2030 | 1.300 | 3400 | (6) | (44) | (50) | 2 | 0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | $3650 | 23 | (16) | 7 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION<sup>(3)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  CDX.HY-45 5-Year Index | (5.000)% | Quarterly | 12/20/2030 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224) | $(2) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(226) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) |
|  CDX.IG-45 5-Year Index | (1.000) | Quarterly | 12/20/2030 | 2700 | (48) | (1) | (49) | 0 | (5) |
|  |  |  |  |  | $(272) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) | $(275) | $0 | $(42) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  CDX.EM-35 5-Year Index | 1.000% | Quarterly | 06/20/2026 | $92 | $(1) | $1 | $0 | $0 | $0 |
|  CDX.HY-44 5-Year Index | 5.000 | Quarterly | 06/20/2030 | 1844 | 77 | 34 | 111 | 16 | 0 |
|  CDX.HY-45 5-Year Index | 5.000 | Quarterly | 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128298 | 9613 | (2643) | 6970 | 1153 | 0 |
|  CDX.HY-46 5-Year Index | 5.000 | Quarterly | 06/20/2031 | 31800 | 1253 | 323 | 1576 | 282 | 0 |
|  CDX.IG-45 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 2700 | 53 | (4) | 49 | 5 | 0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 5100 | 89 | 1 | 90 | 11 | 0 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11084 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2288) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8796 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 102920 | $(2187) | $(2201) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4388) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 | $0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 3.700 | Annual | 03/28/2034 | 650 | (3) | 40 | 37 | 0 | (3) |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 03/18/2036 | 2830 | 9 | 126 | 135 | 0 | (12) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 03/18/2028 | 42490000 | 1682 | 123 | 1805 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153) |
| Receive<sup>(7)</sup> | 1-Day JPY-MUTKCALM Compounded-OIS | 1.500 | Annual | 09/16/2028 | 22169000 | 303 | (89) | 214 | 0 | (107) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 12/21/2026 | $239700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(705) | 2925 | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 06/21/2027 | 31800 | 3206 | (2370) | 836 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.250 | Semi-Annual | 06/20/2028 | 200 | 18 | (12) | 6 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 77130 | 162 | (621) | (459) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 1600 | (3) | (12) | (15) | 0 | (2) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 2400 | 0 | 23 | 23 | 0 | (2) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 2600 | 0 | 21 | 21 | 0 | (3) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.407 | Annual | 08/31/2030 | 430 | 0 | 3 | 3 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.545 | Annual | 10/31/2030 | 5500 | 0 | 20 | 20 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.601 | Annual | 10/31/2030 | 35690 | 0 | 37 | 37 | 0 | (36) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.623 | Annual | 10/31/2030 | 11000 | 0 | 0 | 0 | 0 | (11) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.664 | Annual | 10/31/2030 | 7300 | 0 | (14) | (14) | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.677 | Annual | 10/31/2030 | 6000 | 0 | (15) | (15) | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.689 | Annual | 10/31/2030 | 24600 | 0 | (75) | (75) | 0 | (25) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 11600 | 0 | (36) | (36) | 0 | (12) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 24100 | 0 | (116) | (116) | 0 | (25) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 22200 | 0 | (112) | (112) | 0 | (23) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.735 | Annual | 10/31/2030 | 15800 | 0 | (82) | (82) | 0 | (16) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 3700 | 0 | (20) | (20) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 03/30/2031 | 25770 | 189 | 3661 | 3850 | 0 | (22) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 | 42200 | (44) | (152) | (196) | 0 | (50) |

---

---

| | | |
|:---|:---|:---|
| **52** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750% | Annual | 05/15/2032 | $126000 | $10 | $(378) | $(368) | $0 | $(149) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 22780 | (36) | 144 | 108 | 0 | (25) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 02/26/2035 | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 1500 | (6) | (3) | (9) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 2900 | (11) | (10) | (21) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.870 | Annual | 03/05/2035 | 1200 | (4) | (1) | (5) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 2500 | (9) | (2) | (11) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.899 | Annual | 03/11/2035 | 1700 | (6) | (5) | (11) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 2800 | (8) | (11) | (19) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 3000 | (9) | (27) | (36) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 | 2800 | (8) | (6) | (14) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 7000 | (21) | 197 | 176 | 0 | (6) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.712 | Annual | 11/15/2035 | 1400 | 0 | 15 | 15 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 | 1060 | 0 | 16 | 16 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.755 | Annual | 02/15/2036 | 5900 | 0 | 51 | 51 | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 | 5500 | (11) | 63 | 52 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 4500 | (9) | 41 | 32 | 0 | (4) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 07/14/2044 | 2970 | 0 | 138 | 138 | 7 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/21/2052 | 51300 | 18802 | 1580 | 20382 | 148 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.999 | Annual | 07/03/2053 | 18000 | 951 | 5692 | 6643 | 57 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.842 | Annual | 09/19/2053 | 13900 | 4933 | 510 | 5443 | 44 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.874 | Annual | 09/19/2053 | 13200 | 4591 | 522 | 5113 | 40 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.060 | Semi-Annual | 10/27/2053 | 21110 | 1203 | 6999 | 8202 | 71 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.998 | Annual | 11/15/2053 | 440 | 0 | 12 | 12 | 2 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | 11/15/2053 | 500 | 0 | 12 | 12 | 2 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | 11/15/2053 | 500 | 0 | 12 | 12 | 2 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.082 | Annual | 11/15/2053 | 100 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 18800 | 553 | 1603 | 2156 | 64 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 | 37100 | 5249 | 672 | 5921 | 132 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.052 | Annual | 02/15/2056 | 100 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Year BRL-CDI | 14.028 | Maturity | 01/04/2027 | 6360 | 0 | 7 | 7 | 0 | (2) |
| Pay | 1-Year BRL-CDI | 13.268 | Maturity | 01/02/2029 | 148900 | 0 | (273) | (273) | 172 | 0 |
| Pay | 1-Year BRL-CDI | 13.354 | Maturity | 01/02/2029 | 1064750 | 234 | (3073) | (2839) | 1235 | 0 |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.500 | Quarterly | 04/28/2028 | 90703800 | 6 | 1672 | 1678 | 0 | (14) |
| Receive | 3-Month COP-IBR Compounded-OIS | 8.750 | Quarterly | 09/18/2030 | 57240300 | 0 | 1534 | 1534 | 0 | (34) |
| Pay | 3-Month COP-IBR Compounded-OIS | 9.650 | Quarterly | 12/17/2030 | 293900 | 0 | (5) | (5) | 0 | 0 |
| Pay | 3-Month COP-IBR Compounded-OIS | 9.725 | Quarterly | 12/17/2030 | 143300 | 0 | (3) | (3) | 0 | 0 |
| Pay | 3-Month COP-IBR Compounded-OIS | 9.788 | Quarterly | 12/17/2030 | 286600 | 0 | (5) | (5) | 0 | 0 |
| Pay | 3-Month COP-IBR Compounded-OIS | 9.655 | Quarterly | 01/24/2035 | 2320000 | 0 | (52) | (52) | 4 | 0 |
| Pay | 3-Month COP-IBR Compounded-OIS | 9.820 | Quarterly | 01/24/2035 | 13657900 | 0 | (271) | (271) | 22 | 0 |
| Receive<sup>(7)</sup> | 3-Month PLN-WIBOR | 4.723 | Annual | 12/01/2035 | 12170 | 2 | 50 | 52 | 13 | 0 |
| Receive<sup>(7)</sup> | 3-Month PLN-WIBOR | 4.685 | Annual | 12/02/2035 | 1900 | 0 | 9 | 9 | 2 | 0 |
| Receive<sup>(7)</sup> | 3-Month PLN-WIBOR | 4.730 | Annual | 12/31/2035 | 1900 | 0 | 8 | 8 | 2 | 0 |
| Pay<sup>(7)</sup> | 3-Month PLN-WIBOR | 5.200 | Annual | 03/23/2036 | 400 | 0 | 0 | 0 | 0 | 0 |
| Pay<sup>(7)</sup> | 3-Month PLN-WIBOR | 5.230 | Annual | 04/02/2036 | 1200 | 0 | 0 | 0 | 0 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 | 162045 | 502 | (4498) | (3996) | 1337 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 | 169300 | 2575 | (6987) | (4412) | 1479 | 0 |
| Pay<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.523 | Annual | 12/01/2035 | 67800 | (2) | (18) | (20) | 0 | (5) |
| Pay<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.485 | Annual | 12/02/2035 | 10400 | 0 | (4) | (4) | 0 | (1) |
| Pay<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.530 | Annual | 12/31/2035 | 10320 | 0 | (3) | (3) | 0 | (1) |
| Receive<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.700 | Annual | 03/23/2036 | 2000 | 0 | 0 | 0 | 0 | 0 |
| Receive<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.720 | Annual | 04/02/2036 | 6200 | 0 | 0 | 0 | 0 | 0 |
| Pay | 6-Month EUR-EURIBOR | 0.650 | Annual | 05/11/2027 | 8500 | (766) | 517 | (249) | 4 | 0 |
| Pay | 6-Month EUR-EURIBOR | 1.000 | Annual | 05/18/2027 | 5000 | (391) | 283 | (108) | 3 | 0 |
| Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 09/16/2031 | 15700 | 14 | (383) | (369) | 78 | 0 |
| Pay | 6-Month EUR-EURIBOR | 2.415 | Annual | 07/09/2035 | 55900 | 0 | (1917) | (1917) | 497 | 0 |
| Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 | 39370 | (818) | (614) | (1432) | 348 | 0 |
| Receive<sup>(7)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 24950 | 49 | 580 | 629 | 0 | (278) |
| Receive | CAONREPO | 3.500 | Semi-Annual | 06/01/2032 | 29200 | (427) | (280) | (707) | 0 | (52) |
|  |  |  |  |  |  | $44094 | $1533 | $45627 | $6093 | $(1209) |
|  Total Swap Agreements | Total Swap Agreements |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55104 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(927) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54177 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7564 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1251) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 53

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset<sup>(8)</sup> | Variation Margin<br>Asset<sup>(8)</sup> | | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | **Total** |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | **Total** |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2240 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7564 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9825 | $(39) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2636) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1251) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3926) |

---

(p) Securities with an aggregate market value of $78,063 and cash of $10,328 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> Future styled option variation margin asset of $15 is outstanding at period end. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> 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. 

<sup>(7)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

<sup>(8)</sup> Unsettled variation margin asset of $243 for closed futures is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(q) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | Asset | Liability |
|  AZD | 04/2026 | 38994 | $28467 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | $0 |
|  | 04/2026 | 48 | 38 | 1 | 0 |
|  BOA | 04/2026 | 13100 | 2506 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) |
|  | 04/2026 | 7696 | 1116 | 0 | (2) |
|  | 04/2026 | 1923 | 31 | 0 | (1) |
|  | 04/2026 | 1118 | 1503 | 23 | 0 |
|  | 04/2026 | 494589 | 5286 | 63 | 0 |
|  | 04/2026 | 874948 | 598 | 16 | 0 |
|  | 04/2026 | 6087 | 1646 | 6 | 0 |
|  | 04/2026 | 5 | 4 | 0 | 0 |
|  | 04/2026 | $2498 | 13100 | 31 | 0 |
|  | 04/2026 | 390 | 2688 | 0 | 0 |
|  | 04/2026 | 992 | 93347 | 1 | 0 |
|  | 04/2026 | 458 | 8433 | 13 | 0 |
|  | 04/2026 | 4309 | 15013 | 3 | 0 |
|  | 04/2026 | 140 | 2417 | 2 | 0 |
|  | 04/2026 | 329669 | $19178 | 0 | (279) |
|  | 05/2026 | $37 | 255 | 0 | 0 |
|  | 06/2026 | 10261 | $3321 | 51 | 0 |
|  | 06/2026 | 39547 | 2206 | 13 | 0 |
|  | 06/2026 | 29999 | 8722 | 139 | (5) |
|  | 06/2026 | $1180 | 6257 | 12 | 0 |
|  | 06/2026 | 546 | 1703 | 0 | (3) |
|  | 08/2026 | 1580 | 28609 | 92 | 0 |
|  | 09/2026 | 26291 | $7754 | 262 | 0 |

---

---

| | | |
|:---|:---|:---|
| **54** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 10/2026 | 14000 | $2562 | $0 | $(29) |
|  | 01/2027 | 60199 | 17674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | 0 |
|  BPS | 04/2026 | 137706 | 25044 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1540) |
|  | 04/2026 | 2622 | 381 | 1 | 0 |
|  | 04/2026 | 1338 | 1775 | 4 | 0 |
|  | 04/2026 | 10129 | 3280 | 58 | 0 |
|  | 04/2026 | 1658939 | 17734 | 214 | 0 |
|  | 04/2026 | 19456133 | 13076 | 140 | (3) |
|  | 04/2026 | 2326 | 625 | 0 | (2) |
|  | 04/2026 | 275616 | 8524 | 161 | (4) |
|  | 04/2026 | $5926 | 8469 | 0 | (83) |
|  | 04/2026 | 26203 | 137706 | 382 | 0 |
|  | 04/2026 | 13523 | 228824690 | 1 | (44) |
|  | 04/2026 | 2417 | 7655 | 18 | 0 |
|  | 04/2026 | 1180 | 188200 | 6 | 0 |
|  | 04/2026 | 1575 | 2351761 | 3 | (14) |
|  | 04/2026 | 5175 | 18658 | 0 | (149) |
|  | 04/2026 | 2 | 68 | 0 | 0 |
|  | 04/2026 | 7465 | 238621 | 1 | (19) |
|  | 04/2026 | 31466 | $1858 | 1 | 0 |
|  | 05/2026 | 7647 | 2417 | 0 | (18) |
|  | 05/2026 | 585023 | 6183 | 0 | (25) |
|  | 05/2026 | 121252 | 3677 | 0 | (13) |
|  | 05/2026 | 134370 | 4170 | 0 | (19) |
|  | 05/2026 | $2420 | 12703 | 18 | 0 |
|  | 05/2026 | 3096 | 52695591 | 8 | 0 |
|  | 05/2026 | 618 | 20288 | 0 | (1) |
|  | 06/2026 | 861 | $0 | 0 | 0 |
|  | 06/2026 | 195343 | 5947 | 0 | (12) |
|  | 06/2026 | $3809 | 20238 | 47 | 0 |
|  | 06/2026 | 2780 | 46805067 | 0 | (28) |
|  | 06/2026 | 62 | 19 | 0 | (1) |
|  | 07/2026 | 38500 | $7154 | 0 | (129) |
|  | 07/2026 | $197 | 60 | 0 | (2) |
|  | 10/2026 | 93300 | $17020 | 0 | (248) |
|  | 05/2030 | 784 | 2700 | 123 | 0 |
|  | 08/2030 | 202 | 680 | 16 | 0 |
|  | 01/2031 | 67 | 226 | 5 | 0 |
|  BRC | 04/2026 | 48 | 35 | 0 | 0 |
|  | 04/2026 | 934 | 119 | 0 | 0 |
|  | 04/2026 | 1104924 | 24128 | 0 | (339) |
|  | 04/2026 | $1574 | 5663 | 0 | (48) |
|  | 04/2026 | 23847 | 1087554 | 250 | 0 |
|  | 04/2026 | 273873 | $16736 | 572 | 0 |
|  | 05/2026 | 318800 | 6845 | 0 | (35) |
|  | 05/2026 | $35 | 48 | 0 | 0 |
|  | 05/2026 | 28547 | 1323945 | 8 | 0 |
|  | 06/2026 | 128 | $41 | 1 | 0 |
|  | 08/2026 | $784 | 13803 | 23 | 0 |
|  BSH | 04/2026 | 192600 | $34688 | 0 | (2494) |
|  | 04/2026 | 401888 | 2517 | 0 | (15) |
|  | 04/2026 | $37086 | 192600 | 97 | 0 |
|  | 04/2026 | 45728 | 34351 | 0 | (261) |
|  | 04/2026 | 25413 | 44020 | 0 | (117) |
|  | 04/2026 | 8651 | 31293 | 0 | (222) |
|  | 05/2026 | 34351 | $45727 | 261 | 0 |
|  | 05/2026 | 44020 | 25441 | 119 | 0 |
|  | 05/2026 | 52747 | 15546 | 425 | 0 |
|  | 05/2026 | $2517 | 400678 | 15 | 0 |
|  | 06/2026 | 8677 | 29416 | 0 | (258) |
|  | 10/2026 | 205400 | $37914 | 0 | (101) |
|  | 12/2026 | 17502 | 5172 | 209 | 0 |
|  CBK | 04/2026 | 3254 | 2283 | 38 | 0 |
|  | 04/2026 | 2618 | 379 | 0 | (1) |
|  | 04/2026 | 13513594 | 3549 | 0 | (128) |
|  | 04/2026 | 5793 | 6724 | 28 | 0 |
|  | 04/2026 | 1400 | 1875 | 21 | 0 |
|  | 04/2026 | 1963640 | 21094 | 356 | 0 |
|  | 04/2026 | 11085 | 1141 | 1 | (4) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **55** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | 15847 | $4645 | $93 | $0 |
|  | 04/2026 | 8735 | 937 | 14 | 0 |
|  | 04/2026 | 262 | 8 | 0 | 0 |
|  | 04/2026 | 12487 | 392 | 1 | 0 |
|  | 04/2026 | $1182 | 8146 | 1 | 0 |
|  | 04/2026 | 1182 | 881 | 0 | (15) |
|  | 04/2026 | 66952 | 6147069 | 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1892) |
|  | 04/2026 | 580 | 2012 | 0 | (2) |
|  | 05/2026 | 187938 | $54520 | 845 | (193) |
|  | 05/2026 | $1430 | 2087 | 9 | 0 |
|  | 05/2026 | 0 | 9 | 0 | 0 |
|  | 06/2026 | 166391854 | $43639 | 0 | (917) |
|  | 06/2026 | 2663 | 864 | 15 | 0 |
|  | 06/2026 | 146730 | 8169 | 28 | 0 |
|  | 06/2026 | $872 | 14654399 | 0 | (10) |
|  | 06/2026 | 6961 | 121465 | 0 | (226) |
|  | 07/2026 | 45240 | $13352 | 414 | 0 |
|  | 08/2026 | 26123402 | 6871 | 0 | (24) |
|  | 08/2026 | 55610 | 16301 | 433 | 0 |
|  | 09/2026 | 2027195 | 2265 | 75 | 0 |
|  | 09/2026 | 7694 | 2225 | 32 | 0 |
|  | 09/2026 | $931 | 16655 | 0 | (15) |
|  | 11/2026 | 16281 | $4760 | 138 | 0 |
|  CIB | 04/2026 | 650 | 38 | 0 | 0 |
|  DUB | 04/2026 | 4932 | 713 | 0 | (3) |
|  | 04/2026 | 1882 | 89 | 0 | 0 |
|  | 04/2026 | 4534 | 580 | 1 | 0 |
|  | 04/2026 | 20436 | 6602 | 100 | 0 |
|  | 04/2026 | 438687 | 4683 | 54 | (4) |
|  | 04/2026 | $8947 | 13042 | 52 | 0 |
|  | 04/2026 | 1468 | 10061 | 0 | (8) |
|  | 04/2026 | 160 | 8175 | 0 | (11) |
|  | 04/2026 | 4386 | 411133 | 22 | (44) |
|  | 04/2026 | 51999 | 66424 | 0 | (336) |
|  | 04/2026 | 2761 | 90183 | 0 | (24) |
|  | 05/2026 | 13042 | $8944 | 0 | (52) |
|  | 05/2026 | 66275 | 51999 | 333 | 0 |
|  | 05/2026 | 15165 | 461 | 0 | (1) |
|  | 05/2026 | $713 | 4920 | 3 | 0 |
|  | 06/2026 | 6174723 | $1657 | 3 | 0 |
|  | 06/2026 | 89999 | 2761 | 15 | 0 |
|  | 06/2026 | 353 | 11 | 0 | 0 |
|  | 08/2026 | 50185 | 14878 | 552 | 0 |
|  | 09/2026 | 3185750 | 250 | 0 | (2) |
|  | 12/2026 | 4875000 | 375 | 0 | (3) |
|  FAR | 04/2026 | 6512 | 4615 | 122 | 0 |
|  | 04/2026 | 6104 | 7909 | 275 | 0 |
|  | 04/2026 | 33722 | 45572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 | 0 |
|  | 04/2026 | 500388 | 3135 | 0 | (18) |
|  | 04/2026 | 8 | 6 | 0 | 0 |
|  | 04/2026 | $5417 | 4317 | 0 | (18) |
|  | 04/2026 | 488 | 76271 | 0 | (8) |
|  | 04/2026 | 1748 | 6307 | 0 | (49) |
|  | 04/2026 | 1610 | 15198 | 0 | (4) |
|  | 04/2026 | 281 | 359 | 0 | (2) |
|  | 05/2026 | 4301 | $5417 | 19 | 0 |
|  | 05/2026 | 12717 | 4018 | 0 | (31) |
|  | 05/2026 | 15173 | 1610 | 5 | 0 |
|  | 05/2026 | 358 | 281 | 2 | 0 |
|  | 05/2026 | $3135 | 498876 | 18 | 0 |
|  | 06/2026 | 7303 | $2369 | 41 | 0 |
|  | 06/2026 | 6274 | 1816 | 20 | 0 |
|  | 06/2026 | $3380 | 58882 | 0 | (115) |
|  | 07/2026 | 12368 | $3658 | 123 | 0 |
|  | 09/2026 | $756 | 13344 | 0 | (22) |
|  GLM | 04/2026 | 542339 | $98885 | 0 | (5817) |
|  | 04/2026 | 1335636 | 355 | 0 | (8) |
|  | 04/2026 | 30210 | 468 | 0 | (27) |
|  | 04/2026 | 9902 | 3185 | 34 | 0 |
|  | 04/2026 | 285605 | 3063 | 47 | 0 |

---

---

| | | |
|:---|:---|:---|
| **56** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | 12154 | $25 | $0 | $0 |
|  | 04/2026 | $102652 | 542339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049 | 0 |
|  | 04/2026 | 1059 | 7273 | 0 | (3) |
|  | 04/2026 | 363 | 6129388 | 0 | (2) |
|  | 04/2026 | 5436 | 99887 | 134 | 0 |
|  | 04/2026 | 1537 | 50434 | 0 | (6) |
|  | 05/2026 | 11550 | $192 | 3 | (1) |
|  | 05/2026 | 87976 | 2663 | 0 | (15) |
|  | 06/2026 | 5 | 1 | 0 | 0 |
|  | 06/2026 | 2516 | 41 | 0 | 0 |
|  | 06/2026 | 19139001 | 1135 | 10 | 0 |
|  | 06/2026 | 7904 | 444 | 5 | 0 |
|  | 06/2026 | 50344 | 1537 | 1 | 0 |
|  | 06/2026 | $3529 | 18780 | 49 | 0 |
|  | 06/2026 | 1972 | 33375975 | 0 | (10) |
|  | 06/2026 | 5943 | 103515 | 0 | (203) |
|  | 07/2026 | 132900 | $24668 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(470) |
|  | 07/2026 | $42969 | 231164 | 757 | 0 |
|  | 09/2026 | 2275 | $36 | 0 | (1) |
|  IND | 04/2026 | 92491 | 109211 | 2306 | 0 |
|  | 04/2026 | $1005 | 6533 | 5 | 0 |
|  | 05/2026 | 6523 | $1005 | 0 | (5) |
|  JPM | 04/2026 | 62200 | 11764 | 0 | (244) |
|  | 04/2026 | 10298 | 1490 | 0 | (6) |
|  | 04/2026 | 1140 | 53 | 0 | 0 |
|  | 04/2026 | 647 | 743 | 0 | (5) |
|  | 04/2026 | 5291 | 677 | 1 | 0 |
|  | 04/2026 | 147444 | 1568 | 11 | 0 |
|  | 04/2026 | 13342 | 3635 | 47 | (6) |
|  | 04/2026 | 66717 | 52940 | 1048 | 0 |
|  | 04/2026 | $11775 | 62200 | 234 | 0 |
|  | 04/2026 | 6175 | 5261 | 0 | (94) |
|  | 04/2026 | 1568 | 147697 | 3 | 0 |
|  | 04/2026 | 134 | 197595 | 0 | (3) |
|  | 04/2026 | 1441 | 26557 | 40 | 0 |
|  | 04/2026 | 17519 | 299228 | 141 | 0 |
|  | 04/2026 | 793073 | $47449 | 646 | (3) |
|  | 05/2026 | 4387 | 3007 | 0 | (19) |
|  | 05/2026 | 53927 | 1641 | 0 | 0 |
|  | 05/2026 | $750 | 5177 | 4 | 0 |
|  | 05/2026 | 28 | 4409 | 0 | 0 |
|  | 06/2026 | 6726 | $2177 | 33 | 0 |
|  | 06/2026 | 43428 | 2421 | 13 | 0 |
|  | 06/2026 | $19 | 328615 | 0 | 0 |
|  | 06/2026 | 521 | 1618 | 0 | (5) |
|  | 06/2026 | 42017 | 735089 | 0 | (1255) |
|  | 07/2026 | 38500 | $7116 | 0 | (166) |
|  | 10/2026 | 26600 | 4843 | 0 | (80) |
|  | 06/2027 | 849870 | 63 | 0 | 0 |
|  MBC | 04/2026 | 5362 | 3741 | 41 | 0 |
|  | 04/2026 | 952 | 1205 | 14 | 0 |
|  | 04/2026 | 6536 | 1033 | 22 | 0 |
|  | 04/2026 | 9422 | 10909 | 18 | 0 |
|  | 04/2026 | 223001 | 1395 | 0 | (10) |
|  | 04/2026 | 2312 | 238 | 0 | (1) |
|  | 04/2026 | 20880 | 2234 | 29 | 0 |
|  | 04/2026 | 81172 | 2544 | 79 | 0 |
|  | 04/2026 | $2855 | 4119 | 0 | (13) |
|  | 04/2026 | 2486 | 1955 | 0 | (41) |
|  | 04/2026 | 3139 | 2346 | 0 | (34) |
|  | 04/2026 | 2994 | 474026 | 4 | (11) |
|  | 04/2026 | 1161 | 21422 | 34 | 0 |
|  | 04/2026 | 1583 | 15151 | 3 | (20) |
|  | 04/2026 | 1140 | 1952 | 0 | (18) |
|  | 05/2026 | 2371 | $242 | 0 | (2) |
|  | 05/2026 | $200 | 10196 | 0 | (21) |
|  | 05/2026 | 2435 | 387828 | 16 | 0 |
|  | 06/2026 | 5026 | $278 | 0 | 0 |
|  MYI | 04/2026 | 1310 | 370 | 17 | 0 |
|  | 04/2026 | $1199 | 21842 | 19 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **57** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 06/2026 | 280680 | $17 | $0 | $0 |
|  NGF | 04/2026 | 1756 | 183 | 1 | 0 |
|  | 04/2026 | $704 | 32439 | 1 | 0 |
|  SCX | 04/2026 | 45972 | $27485 | 1067 | 0 |
|  | 04/2026 | 5 | 4 | 0 | 0 |
|  | 04/2026 | 7629 | 240 | 8 | 0 |
|  | 04/2026 | $28200 | 39042 | 0 | (132) |
|  | 04/2026 | 148 | 7265 | 0 | (18) |
|  | 04/2026 | 7277 | 662049 | 0 | (286) |
|  | 04/2026 | 385 | 59984 | 0 | (7) |
|  | 04/2026 | 1417 | 5128 | 0 | (36) |
|  | 04/2026 | 2485 | 79295 | 0 | (7) |
|  | 05/2026 | 38989 | $28200 | 132 | 0 |
|  | 05/2026 | 23 | 1 | 0 | 0 |
|  | 06/2026 | $3420 | 57657694 | 0 | (30) |
|  | 11/2026 | 533775 | $330 | 0 | (27) |
|  SOG | 04/2026 | 5070 | 5999 | 139 | 0 |
|  | 04/2026 | $1012 | 781 | 0 | (35) |
|  | 04/2026 | 100 | 4903 | 0 | (11) |
|  | 04/2026 | 124818 | 108162 | 200 | 0 |
|  | 04/2026 | 2126 | 330849 | 0 | (42) |
|  | 05/2026 | 108162 | $125014 | 0 | (195) |
|  | 06/2026 | 5170 | 1675 | 27 | 0 |
|  | 06/2026 | $12586 | 42404 | 0 | (447) |
|  | 07/2026 | 600 | 30450 | 0 | (79) |
|  SSB | 04/2026 | 10502 | $7473 | 228 | 0 |
|  | 04/2026 | $3 | 388 | 0 | 0 |
|  | 04/2026 | 1584 | 14405 | 0 | (62) |
|  UAG | 04/2026 | 2304 | $110 | 1 | 0 |
|  | 04/2026 | 6025 | 1637 | 14 | 0 |
|  | 04/2026 | $1949 | 7244965 | 23 | 0 |
|  | 04/2026 | 11999 | 17677585 | 0 | (243) |
|  | 04/2026 | 7157 | 25871 | 0 | (188) |
|  | 05/2026 | 36 | $1 | 0 | 0 |
|  | 06/2026 | 13228233 | 3506 | 0 | (36) |
|  | 06/2026 | 8388 | 2714 | 40 | 0 |
|  | 06/2026 | 6410 | 357 | 2 | 0 |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20028 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21274) |

---

#### PURCHASED OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | **Strike<br>Price** | **Strike<br>Price** | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC USD versus BRL | BRL | 5.320 | 04/23/2026 | 10750 | $141 | $318 |
|  | Put - OTC USD versus KRW | KRW | 1400.000 | 07/09/2026 | 5480 | 56 | 16 |
|  | Put - OTC USD versus KRW |  | 1400.000 | 07/13/2026 | 3720 | 25 | 12 |
|  | Put - OTC USD versus ZAR | ZAR | 18.000 | 08/19/2026 | 15771 | 753 | 1127 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.470% | 06/04/2035 | 9800 | $879 | $757 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.470 | 06/04/2035 | 9800 | 879 | 842 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.255 | 08/16/2039 | 31900 | 3054 | 2080 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.255 | 08/16/2039 | 31900 | 3054 | 3974 |
| DUB Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.757 | 09/18/2026 | 182300 | 149 | 405 |
| JPM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.808 | 07/31/2034 | 14700 | 1289 | 834 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.808 | 07/31/2034 | 14700 | 1289 | 1512 |
| MYC Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.757 | 09/18/2026 | 286900 | 221 | 637 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.800 | 07/12/2034 | 29700 | 2567 | 1665 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.800 | 07/12/2034 | 29700 | 2567 | 3048 |
|  |  |  |  |  |  | $15948 | $15754 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16923 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17227 |

---

58 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### WRITTEN OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus BRL | BRL | 5.120 | 04/23/2026 | 10750 | $(26) | $(67) |
|  | Call - OTC USD versus BRL |  | 5.700 | 04/23/2026 | 10750 | (91) | (12) |
|  | Put - OTC USD versus KRW | KRW | 1350.000 | 07/09/2026 | 5480 | (19) | (4) |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/13/2026 | 3720 | (8) | (3) |
|  | Put - OTC USD versus ZAR | ZAR | 17.000 | 08/19/2026 | 31542 | (754) | (1009) |
| MYI | Call - OTC USD versus JPY | JPY | 157.700 | 04/24/2026 | 13033 | (85) | (152) |
| ULO | Call - OTC USD versus JPY |  | 157.700 | 04/24/2026 | 50 | 0 | (1) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(983) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1248) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.620% | 04/20/2026 | 2900 | $(9) | $(4) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/20/2026 | 2900 | (10) | (16) |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600 | 04/16/2026 | 1600 | (5) | (2) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 1600 | (5) | (8) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 2800 | (10) | (8) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 2800 | (10) | (8) |
| MYC Call - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Receive | 2.540 | 04/16/2026 | 2300 | (5) | 0 |
| Put - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Pay | 2.920 | 04/16/2026 | 2300 | (5) | (9) |
|  |  |  |  |  |  | $(59) | $(55) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1042) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1303) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| Counterparty | Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| GST | Soft Bank Group,Inc. | 1.000% | Quarterly | 06/20/2026 | 1.662% | $700 | $(6) | $5 | $0 | $(1) |
| JPM | Hochtief AG | 5.000 | Quarterly | 12/20/2026 | 0.194 | 5900 | 1407 | (1158) | 249 | 0 |
|  |  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1153) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| GST | CMBX.NA.AAA.10 Index | 0.500% | Monthly | 11/17/2059 | $881 | $(26) | $27 | $1 | $0 |
| MYI | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 17724 | 0 | 24 | 24 | 0 |
| UAG | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11848 | (415) | 431 | 16 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(441) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $960 | $(671) | $290 | $(1) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(6)</sup> |
|  AZD | $436 | $0 | $0 | $436 | $0 | $0 | $0 | $0 | $436 | $(320) | $116 |
|  BOA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10477 | (342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | (1457) | 9020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1530) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7490 |
|  BPS | 1207 | 0 | 0 | 1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2354) | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2354) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1147) | 1110 | (37) |
|  BRC | 854 | 0 | 0 | 854 | (422) | 0 | 0 | (422) | 432 | (698) | (266) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **59** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | | | |
| **Counterparty** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Purchased<br>Options** | **Swap<br>Agreements** | **Total<br>Over the<br>Counter** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Written<br>Options** | **Swap<br>Agreements** | **Total<br>Over the<br>Counter** | **Net Market<br>Value of OTC<br>Derivatives** | **Collateral<br>Pledged/<br>(Received)** | **Net<br>Exposure<sup>(6)</sup>** |
|  BSH | $1126 | $0 | $0 | $1126 | $(3468) | $0 | $0 | $(3468) | $(2342) | $2011 | $(331) |
|  CBK | 2557 | 0 | 0 | 2557 | (3427) | 0 | 0 | (3427) | (870) | 871 | 1 |
|  DUB | 1135 | 405 | 0 | 1540 | (488) | 0 | 0 | (488) | 1052 | (1200) | (148) |
|  FAR | 1562 | 0 | 0 | 1562 | (267) | 0 | 0 | (267) | 1295 | (1520) | (225) |
|  GLM | 3089 | 0 | 0 | 3089 | (6563) | (26) | 0 | (6589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3500) | 3886 | 386 |
|  GST | 0 | 0 | 1 | 1 | 0 | 0 | (1) | (1) | 0 | 0 | 0 |
|  IND | 2311 | 0 | 0 | 2311 | (5) | 0 | 0 | (5) | 2306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3160) | (854) |
|  JPM | 2221 | 2346 | 249 | 4816 | (1886) | 0 | 0 | (1886) | 2930 | (686) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244 |
|  MBC | 260 | 0 | 0 | 260 | (171) | 0 | 0 | (171) | 89 | 0 | 89 |
|  MYC | 0 | 5350 | 0 | 5350 | 0 | (9) | 0 | (9) | 5341 | (360) | 4981 |
|  MYI | 36 | 0 | 24 | 60 | 0 | (152) | 0 | (152) | (92) | 3 | (89) |
|  NGF | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | 0 | 2 |
|  SCX | 1207 | 0 | 0 | 1207 | (543) | 0 | 0 | (543) | 664 | (580) | 84 |
|  SOG | 366 | 0 | 0 | 366 | (809) | 0 | 0 | (809) | (443) | 346 | (97) |
|  SSB | 228 | 0 | 0 | 228 | (62) | 0 | 0 | (62) | 166 | 0 | 166 |
|  UAG | 80 | 0 | 16 | 96 | (467) | 0 | 0 | (467) | (371) | 441 | 70 |
|  ULO | 0 | 0 | 0 | 0 | 0 | (1) | 0 | (1) | (1) | 0 | (1) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20028 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17227 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37545 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21274) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1303) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22578) |  |  |  |

---

(r) Securities with an aggregate market value of $8,668 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $21 | $0 | $0 | $0 | $0 | $21 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 2240 | 2240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1471 | 0 | 0 | 6093 | 7564 |
|  | $21 | $1471 | $0 | $0 | $8333 | $9825 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $20028 | $0 | $20028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 1473 | 15754 | 17227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 290 | 0 | 0 | 0 | 290 |
|  | $0 | $290 | $0 | $21501 | $15754 | $37545 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1761 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21501 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24087 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47370 |

---

60 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $39 | $39 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 361 | 0 | 0 | 0 | 2275 | 2636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 42 | 0 | 0 | 1209 | 1251 |
|  | $361 | $42 | $0 | $0 | $3523 | $3926 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $21274 | $0 | $21274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 1248 | 55 | 1303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1 | 0 | 0 | 0 | 1 |
|  | $0 | $1 | $0 | $22522 | $55 | $22578 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22522 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26504 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $1572 | $1572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 647 | 0 | 0 | 0 | 1055 | 1702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 5305 | 0 | 0 | 11592 | 16897 |
|  | $647 | $5305 | $0 | $0 | $14219 | $20171 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(48877) | $0 | $(48877) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 123 | (4969) | (4846) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 35 | 0 | 296 | 8826 | 9157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1148 | 0 | 0 | 0 | 1148 |
|  | $0 | $1183 | $0 | $(48458) | $3857 | $(43418) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6488 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48458) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18076 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23247) |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $(430) | $0 | $0 | $0 | $0 | $(430) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 0 | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | (3178) | 0 | 0 | 0 | (1513) | (4691) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (2388) | 0 | 0 | (12869) | (15257) |
|  | $(3608) | $(2388) | $0 | $0 | $(14383) | $(20379) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(462) | $0 | $(462) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 498 | 3138 | 3636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | (265) | (4223) | (4488) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (896) | 0 | 0 | 0 | (896) |
|  | $0 | $(896) | $0 | $(229) | $(1085) | $(2210) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3608) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3284) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(229) | $(15468) | $(22589) |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $29506 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10714 | $40220 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281715 | 7412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289127 |
| &nbsp;&nbsp; Industrials | 0 | 180265 | 0 | 180265 |
| &nbsp;&nbsp; Utilities | 0 | 62631 | 30 | 62661 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; California | 0 | 2145 | 0 | 2145 |
| &nbsp;&nbsp; Illinois | 0 | 845 | 0 | 845 |
| &nbsp;&nbsp; West Virginia | 0 | 4137 | 0 | 4137 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  U.S. Government Agencies | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785304 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785304 |
|  U.S. Treasury Obligations | 0 | 275197 | 0 | 275197 |
|  Non-Agency Mortgage-Backed Securities | 0 | 141374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27322 | 168696 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Home Equity Other | 0 | 172438 | 0 | 172438 |
| &nbsp;&nbsp; Home Equity Sequential | 0 | 2267 | 0 | 2267 |
| &nbsp;&nbsp; Manufacturing House Sequential | 0 | 1776 | 0 | 1776 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 26230 | 0 | 26230 |
| &nbsp;&nbsp; Other ABS | 0 | 128295 | 0 | 128295 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **61** |

---

------

Schedule of Investments PIMCO Dynamic Bond Fund (Cont.) March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  Sovereign Issues | $0 | $531125 | $839 | $531964 |
|  Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| &nbsp;&nbsp; Communication Services | 0 | 0 | 334 | 334 |
|  Convertible Preferred Securities | Convertible Preferred Securities |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 4043 | 0 | 0 | 4043 |
|  Preferred Securities |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 694 | 4133 | 0 | 4827 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Commercial Paper | 250 | 87620 | 0 | 87870 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 245058 | 0 | 245058 |
| &nbsp;&nbsp; Egypt Treasury Bills | 0 | 139 | 0 | 139 |
| &nbsp;&nbsp; Nigeria Treasury Bills | 0 | 14459 | 0 | 14459 |
| &nbsp;&nbsp; Turkey Treasury Bills | 0 | 871 | 0 | 871 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 1034 | 0 | 1034 |
|  | $4987 | $3978564 | $46651 | $4030202 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $547038 | $0 | $0 | $547038 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552025 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978564 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46651 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577240 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  Corporate Bonds & Notes | $0 | $(211292) | $0 | $(211292) |
|  U.S. Government Agencies | 0 | (154468) | 0 | (154468) |
|  | $0 | $(365760) | $0 | $(365760) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 484 | 9098 | 0 | 9582 |
|  Over the counter | 0 | 37545 | 0 | 37545 |
|  | $484 | $46643 | $0 | $47127 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (1093) | (2833) | 0 | (3926) |
|  Over the counter | 0 | (22578) | 0 | (22578) |
|  | $(1093) | $(25411) | $0 | $(26504) |
|  Total Financial Derivative Instruments | $(609) | $21232 | $0 | $20623 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551416 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634036 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46651 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4232103 |

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/<br>Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |  |  |  |  |  |  |  |
|  Loan Participations and Assignments | $9587 | $603 | $(3) | $8 | $0 | $519 | $0 | $0 | $10714 | $519 |
|  Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance | 4325 | 3118 | 0 | 0 | 0 | (31) | 0 | 0 | 7412 | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities | 0 | 25 | 0 | 0 | 0 | 5 | 0 | 0 | 30 | 5 |
|  Non-Agency Mortgage-Backed Securities | 3931 | 25892 | 0 | 52 | 0 | 1697 | 0 | (4250) | 27322 | 1430 |
|  Sovereign Issues | 0 | 834 | 0 | 0 | 0 | 5 | 0 | 0 | 839 | 5 |
|  Common Stocks |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Communication Services | 0 | 0 | 0 | 0 | 0 | 334 | 0 | 0 | 334 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financials | 762 | 0 | (787) | 0 | (1300) | 1325 | 0 | 0 | 0 | (11) |
|  Totals | $18605 | $30472 | $(790) | $60 | $(1300) | $3854 | $0 | $(4250) | $46651 | $2250 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Ending<br>Balance<br>at 03/31/2026** | **Valuation**<br> **Technique** | **Unobservable<br>Inputs** | **(% Unless Noted Otherwise)** | **(% Unless Noted Otherwise)** |
| **Category and Subcategory** | **Ending<br>Balance<br>at 03/31/2026** | **Valuation**<br> **Technique** | **Unobservable<br>Inputs** | **Input Value(s)** | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $10714 | Discounted Cash Flow | Discount Rate | 4.220-6.790 | 4.708 |
|  Corporate Bonds & Notes |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance | 6185 | Discounted Cash Flow | Discount Rate | 4.774-6.918 | 5.564 |
|  | 1227 | Proxy Pricing | Base Price | 100.000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities | 30 | Indicative Market Quotation | Broker Quote | 12.000 |  |
|  Non-Agency Mortgage-Backed Securities | 27322 | Recent Transaction | Purchase Price | 100.000 |  |
|  Sovereign Issues | 839 | Proxy Pricing | Base Price | 100.000 |  |
|  Common Stocks |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Communication Services | 334 | Indicative Market Quotation | Broker Quote | $15.000 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46651 |  |  |  |  |

---

<sup>(1)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

---

| | | |
|:---|:---|:---|
| **62** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

Schedule of Investments PIMCO Extended Duration Fund March 31, 2026

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 232.6% | INVESTMENTS IN SECURITIES 232.6% | INVESTMENTS IN SECURITIES 232.6% |
| CORPORATE BONDS & NOTES 1.0% | CORPORATE BONDS & NOTES 1.0% | CORPORATE BONDS & NOTES 1.0% |
| INDUSTRIALS 1.0% | INDUSTRIALS 1.0% | INDUSTRIALS 1.0% |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 4760 | 4898 |
|  Total Corporate Bonds & Notes<br>(Cost $4,760) | Total Corporate Bonds & Notes<br>(Cost $4,760) | 4898 |
| U.S. GOVERNMENT AGENCIES 22.6% | U.S. GOVERNMENT AGENCIES 22.6% | U.S. GOVERNMENT AGENCIES 22.6% |
|  Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates |
|  4.447% due 11/25/2052 ~ | 4336 | 4037 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ | 932 | 905 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  0.000% due 01/15/2041 (b)(e) | 2107 | 1629 |
|  3.000% due 04/15/2053 | 1658 | 1286 |
|  4.000% due 09/15/2054 | 947 | 873 |
|  4.562% due 12/25/2055 •  | 1727 | 1733 |
|  6.000% due 06/15/2035 | 505 | 523 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  4.000% due 08/01/2048 | 30 | 29 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.000% due 07/25/2043 | 534 | 452 |
|  5.000% due 08/25/2033 | 13 | 13 |
|  5.500% due 04/25/2033 - 08/25/2035 | 16 | 16 |
|  6.000% due 12/25/2034 | 359 | 368 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) | 2225 | 102 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  4.000% due 09/20/2055 | 99 | 93 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  5.500% due 10/20/2037 | 196 | 198 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 04/01/2056 | 11000 | 10306 |
|  4.500% due 06/01/2040 | 2100 | 2025 |
|  Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS |
|  0.000% due 10/15/2028 (a) | 800 | 726 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  4.625% due 09/15/2060 | 1000 | 882 |
|  U.S. Small Business Administration | U.S. Small Business Administration | U.S. Small Business Administration |
|  5.290% due 12/01/2027 | 8 | 8 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 04/01/2056 - 05/01/2056 | 21400 | 20193 |
|  5.000% due 04/01/2056 - 05/01/2056 | 30200 | 29755 |
|  6.000% due 06/01/2056 | 33200 | 33794 |
|  6.500% due 06/01/2056 | 1700 | 1757 |
|  Total U.S. Government Agencies<br>(Cost $113,434) | Total U.S. Government Agencies<br>(Cost $113,434) | 111703 |
| U.S. TREASURY OBLIGATIONS 193.7% | U.S. TREASURY OBLIGATIONS 193.7% | U.S. TREASURY OBLIGATIONS 193.7% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.625% due 11/15/2050 (h) | 97000 | 50629 |
|  2.250% due 08/15/2049 (h) | 3400 | 2116 |
|  2.250% due 02/15/2052 (h) | 5500 | 3316 |
|  2.750% due 11/15/2047 (h) | 16401 | 11574 |
|  3.000% due 11/15/2044 | 80 | 61 |
|  3.000% due 02/15/2047 (h) | 8050 | 6000 |
|  3.000% due 05/15/2047 (h) | 3000 | 2231 |
|  3.125% due 08/15/2044 (h) | 2100 | 1647 |
|  3.375% due 11/15/2048 (h) | 18600 | 14581 |
|  3.625% due 02/15/2053 (h) | 1200 | 963 |
|  4.000% due 11/15/2052 (h) | 1900 | 1633 |
|  4.250% due 02/15/2054 (h) | 9600 | 8601 |
|  4.250% due 08/15/2054 (h) | 12700 | 11377 |
|  4.500% due 11/15/2054 (h) | 2800 | 2617 |
|  4.625% due 02/15/2046 (h) | 14700 | 14173 |
|  4.625% due 02/15/2055 (h) | 44400 | 42359 |
|  4.625% due 11/15/2055 (h) | 16700 | 15959 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.750% due 05/15/2055 (h) | 31200 | 30390 |
|  4.750% due 08/15/2055 (h) | 61200 | 59651 |
|  U.S. Treasury Inflation Protected Securities (f) | U.S. Treasury Inflation Protected Securities (f) | U.S. Treasury Inflation Protected Securities (f) |
|  0.625% due 07/15/2032 (h) | 5820 | 5493 |
|  1.125% due 01/15/2033 (h) | 9258 | 8920 |
|  1.750% due 01/15/2034 (h) | 9099 | 9064 |
|  1.875% due 07/15/2034 (h) | 622 | 625 |
|  2.125% due 01/15/2035 (h) | 1031 | 1048 |
|  U.S. Treasury STRIPS | U.S. Treasury STRIPS | U.S. Treasury STRIPS |
|  0.000% due 05/15/2034 (a) | 31800 | 22524 |
|  0.000% due 08/15/2034 (a)(h) | 76520 | 53522 |
|  0.000% due 11/15/2034 (a)(j) | 34600 | 23906 |
|  0.000% due 08/15/2035 (a)(j) | 6870 | 4570 |
|  0.000% due 05/15/2036 (a) | 52000 | 33241 |
|  0.000% due 11/15/2036 (a)(h) | 76900 | 47823 |
|  0.000% due 05/15/2037 (a) | 54350 | 32877 |
|  0.000% due 08/15/2037 (a) | 9100 | 5424 |
|  0.000% due 05/15/2041 (a) | 160 | 76 |
|  0.000% due 08/15/2041 (a) | 120 | 56 |
|  0.000% due 11/15/2041 (a) | 60 | 28 |
|  0.000% due 08/15/2042 (a) | 690 | 304 |
|  0.000% due 11/15/2042 (a) | 120 | 52 |
|  0.000% due 08/15/2041 (e) | 14800 | 7088 |
|  0.000% due 02/15/2042 (e)(j) | 9500 | 4404 |
|  0.000% due 05/15/2042 (e)(j) | 9700 | 4429 |
|  0.000% due 05/15/2043 (e) | 16610 | 7142 |
|  0.000% due 08/15/2043 (e) | 22200 | 9402 |
|  0.000% due 05/15/2044 (e) | 32700 | 13288 |
|  0.000% due 08/15/2044 (e)(j) | 1500 | 601 |
|  0.000% due 11/15/2044 (e)(j) | 4800 | 1894 |
|  0.000% due 02/15/2045 (e)(j) | 5200 | 2027 |
|  0.000% due 05/15/2045 (e)(j) | 7750 | 2978 |
|  0.000% due 08/15/2046 (e)(j) | 3500 | 1258 |
|  0.000% due 05/15/2048 (e) | 77000 | 25261 |
|  0.000% due 08/15/2048 (e)(h) | 153800 | 49813 |
|  0.000% due 11/15/2048 (e)(h) | 172400 | 55158 |
|  0.000% due 02/15/2049 (e) | 120600 | 38093 |
|  0.000% due 08/15/2049 (e) | 72300 | 22269 |
|  0.000% due 11/15/2049 (e) | 155500 | 47230 |
|  0.000% due 08/15/2050 (e)(h) | 202600 | 59403 |
|  0.000% due 05/15/2051 (e)(h) | 213900 | 60317 |
|  0.000% due 11/15/2054 (e) | 58200 | 14098 |
|  Total U.S. Treasury Obligations<br>(Cost $1,327,998) | Total U.S. Treasury Obligations<br>(Cost $1,327,998) | 955584 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 2.7% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.7% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.7% |
|  1166 Avenue of the Americas Commercial Mortgage Trust II | 1166 Avenue of the Americas Commercial Mortgage Trust II | 1166 Avenue of the Americas Commercial Mortgage Trust II |
|  5.690% due 10/13/2037 | 3000 | 2648 |
|  Bank5 | Bank5 | Bank5 |
|  4.793% due 12/15/2058 | 1300 | 1306 |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  5.015% due 09/15/2058 | 900 | 911 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.718% due 09/25/2035 ~ | 88 | 46 |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  5.660% due 04/15/2057 | 1200 | 1240 |
|  BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
|  5.187% due 07/15/2058 | 800 | 813 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.592% due 09/25/2047 ~ | 65 | 60 |
|  GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
|  3.602% due 10/10/2049 ~ | 1800 | 1726 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  5.170% due 12/15/2031 •  | 662 | 661 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  4.693% due 12/25/2049 •  | 48 | 47 |
|  5.818% due 07/25/2035 ~ | 10 | 10 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.750% due 11/25/2059 ~ | 1052 | 1012 |
|  PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
|  5.021% due 02/25/2057 •  | 1200 | 1203 |
|  Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
|  5.172% due 04/25/2056 •  | 1400 | 1403 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.113% due 10/25/2035 •  | 169 | 164 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.589% due 01/25/2047 •  | 57 | 55 |
|  5.359% due 10/25/2046 •  | 2 | 2 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $14,212) | Total Non-Agency Mortgage-Backed Securities (Cost $14,212) | 13307 |
| ASSET-BACKED SECURITIES 7.9% | ASSET-BACKED SECURITIES 7.9% | ASSET-BACKED SECURITIES 7.9% |
| AUTOMOBILE SEQUENTIAL 0.3% | AUTOMOBILE SEQUENTIAL 0.3% | AUTOMOBILE SEQUENTIAL 0.3% |
|  Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
|  6.020% due 02/20/2030 | 1400 | 1454 |
| CMBS OTHER 1.0% | CMBS OTHER 1.0% | CMBS OTHER 1.0% |
|  Acore Issuer LLC | Acore Issuer LLC | Acore Issuer LLC |
|  5.125% due 08/20/2043 •  | 500 | 500 |
|  ACREC LLC | ACREC LLC | ACREC LLC |
|  5.130% due 01/18/2043 •  | 200 | 200 |
|  Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. |
|  5.122% due 01/15/2037 •  | 628 | 630 |
|  BDS Ltd. | BDS Ltd. | BDS Ltd. |
|  5.144% due 12/16/2036 •  | 146 | 146 |
|  FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC |
|  0.000% due 01/19/2044 •  | 1000 | 1000 |
|  LMNT CRE LLC | LMNT CRE LLC | LMNT CRE LLC |
|  5.225% due 07/21/2043 •  | 900 | 900 |
|  LRECS LLC | LRECS LLC | LRECS LLC |
|  5.177% due 08/19/2043 •  | 1200 | 1198 |
|  MF1 LLC | MF1 LLC | MF1 LLC |
|  5.827% due 06/19/2037 •  | 303 | 303 |
|  |  | 4877 |
| HOME EQUITY OTHER 1.2% | HOME EQUITY OTHER 1.2% | HOME EQUITY OTHER 1.2% |
|  ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust |
|  4.588% due 01/25/2035 •  | 3094 | 3014 |
|  CIT Mortgage Loan Trust | CIT Mortgage Loan Trust | CIT Mortgage Loan Trust |
|  5.293% due 10/25/2037 •  | 1342 | 1361 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  4.618% due 10/25/2034 •  | 887 | 875 |
|  RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
|  5.553% due 03/25/2055 þ | 594 | 598 |
|  |  | 5848 |
| OTHER ABS 5.4% | OTHER ABS 5.4% | OTHER ABS 5.4% |
|  37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. |
|  4.762% due 04/15/2035 •  | 1000 | 1000 |
|  ARES LXV CLO Ltd. | ARES LXV CLO Ltd. | ARES LXV CLO Ltd. |
|  4.788% due 07/25/2034 •  | 700 | 700 |
|  Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC |
|  3.277% due 01/22/2038 •  | 500 | 578 |
|  Black Diamond CLO DAC | Black Diamond CLO DAC | Black Diamond CLO DAC |
|  2.964% due 05/15/2032 •  | 446 | 516 |
|  Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC |
|  3.279% due 10/25/2038 •  | 300 | 346 |
|  College Avenue Student Loans LLC | College Avenue Student Loans LLC | College Avenue Student Loans LLC |
|  5.562% due 05/25/2055 •  | 615 | 627 |
|  CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC |
|  3.285% due 01/23/2039 •  | 1000 | 1154 |
|  Dell Equipment Finance Trust | Dell Equipment Finance Trust | Dell Equipment Finance Trust |
|  4.680% due 07/22/2027 | 701 | 702 |
|  ECMC Group Student Loan Trust | ECMC Group Student Loan Trust | ECMC Group Student Loan Trust |
|  4.526% due 02/27/2068 •  | 317 | 315 |
|  Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. |
|  4.768% due 04/20/2033 •  | 427 | 427 |
|  Harvest CLO XVI DAC | Harvest CLO XVI DAC | Harvest CLO XVI DAC |
|  3.336% due 10/15/2038 •  | 1010 | 1167 |
|  Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC |
|  3.266% due 10/15/2038 •  | 1200 | 1386 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **63** |

---

------

Schedule of Investments PIMCO Extended Duration Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Indigo Credit Management I DAC | Indigo Credit Management I DAC | Indigo Credit Management I DAC |
|  3.276% due 10/15/2037 •  | 1000 | 1155 |
|  MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC |
|  3.284% due 02/15/2038 •  | 1100 | 1271 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.610% due 02/21/2061 | 1343 | 1326 |
|  Neuberger Berman Loan Advisers CLO 43 Ltd. | Neuberger Berman Loan Advisers CLO 43 Ltd. | Neuberger Berman Loan Advisers CLO 43 Ltd. |
|  4.718% due 07/17/2036 •  | 1000 | 1001 |
|  OFSI BSL X Ltd. | OFSI BSL X Ltd. | OFSI BSL X Ltd. |
|  4.938% due 04/20/2034 •  | 1000 | 1001 |
|  Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC |
|  0.000% due 10/15/2035 «•(c) | 800 | 925 |
|  Penta CLO 9 DAC | Penta CLO 9 DAC | Penta CLO 9 DAC |
|  2.880% due 07/25/2036 •  | 1000 | 1153 |
|  PK ALIFT Loan Funding 6 LP | PK ALIFT Loan Funding 6 LP | PK ALIFT Loan Funding 6 LP |
|  5.365% due 11/15/2042 | 796 | 803 |
|  Providus CLO V DAC | Providus CLO V DAC | Providus CLO V DAC |
|  3.214% due 11/15/2039 •  | 1400 | 1617 |
|  Rockford Tower Europe CLO DAC | Rockford Tower Europe CLO DAC | Rockford Tower Europe CLO DAC |
|  3.271% due 08/29/2036 •  | 1000 | 1155 |
|  Slam Ltd. | Slam Ltd. | Slam Ltd. |
|  5.807% due 05/15/2050 | 475 | 481 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.030% due 03/15/2056 (c) | 1400 | 1402 |
|  THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. |
|  4.872% due 04/15/2035 •  | 800 | 801 |
|  Toro European CLO 2 DAC | Toro European CLO 2 DAC | Toro European CLO 2 DAC |
|  3.020% due 07/25/2034 •  | 1000 | 1156 |
|  Trysail CLO Ltd. | Trysail CLO Ltd. | Trysail CLO Ltd. |
|  4.907% due 10/20/2033 •  | 1000 | 1001 |
|  UPX HIL Issuer Trust | UPX HIL Issuer Trust | UPX HIL Issuer Trust |
|  5.160% due 01/25/2047 | 780 | 778 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Venture 36 CLO Ltd. | Venture 36 CLO Ltd. | Venture 36 CLO Ltd. |
|  5.059% due 04/20/2032 •  | 738 | 739 |
|  |  | 26683 |
|  Total Asset-Backed Securities (Cost $38,780) | Total Asset-Backed Securities (Cost $38,780) | 38862 |
| SOVEREIGN ISSUES 4.3% | SOVEREIGN ISSUES 4.3% | SOVEREIGN ISSUES 4.3% |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.000% due 06/01/2034 | 1000 | 701 |
|  Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA |
|  4.375% due 10/01/2030 | 400 | 397 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.300% due 12/20/2054 | 380000 | 1818 |
|  2.400% due 03/20/2055 | 47000 | 230 |
|  2.800% due 06/20/2055 | 180000 | 961 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | 500000 | 2618 |
|  2.400% due 03/20/2045 | 74000 | 412 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 | 4100 | 1119 |
|  6.150% due 08/12/2032 | 12400 | 3726 |
|  6.950% due 08/12/2031 | 4161 | 1297 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  8.250% due 03/31/2032 | 7800 | 450 |
|  8.500% due 01/31/2037 | 11300 | 624 |
|  8.875% due 02/28/2035 | 112600 | 6540 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  4.375% due 07/31/2054 | 200 | 220 |
|  Total Sovereign Issues (Cost $21,873) | Total Sovereign Issues (Cost $21,873) | 21113 |
| SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% |
| REPURCHASE AGREEMENTS (g) 0.1% | REPURCHASE AGREEMENTS (g) 0.1% | REPURCHASE AGREEMENTS (g) 0.1% |
|  |  | 553 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. TREASURY BILLS 0.3% | U.S. TREASURY BILLS 0.3% | U.S. TREASURY BILLS 0.3% | U.S. TREASURY BILLS 0.3% |
|  3.701% due 06/30/2026 - 07/21/2026 (d)(e) | 1385 | $— | 1371 |
| Total Short-Term Instruments<br>(Cost $1,924) | Total Short-Term Instruments<br>(Cost $1,924) |  | 1924 |
| Total Investments in Securities<br>(Cost $1,522,981) | Total Investments in Securities<br>(Cost $1,522,981) |  | 1147391 |
|  | SHARES |  |  |
| INVESTMENTS IN AFFILIATES 1.3% | INVESTMENTS IN AFFILIATES 1.3% | INVESTMENTS IN AFFILIATES 1.3% | INVESTMENTS IN AFFILIATES 1.3% |
| SHORT-TERM INSTRUMENTS 1.3% | SHORT-TERM INSTRUMENTS 1.3% | SHORT-TERM INSTRUMENTS 1.3% | SHORT-TERM INSTRUMENTS 1.3% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.3% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 651859 |  | 6348 |
| Total Short-Term Instruments<br>(Cost $6,348) | Total Short-Term Instruments<br>(Cost $6,348) |  | 6348 |
| Total Investments in Affiliates<br>(Cost $6,348) | Total Investments in Affiliates<br>(Cost $6,348) |  | 6348 |
| Total Investments 233.9%<br>(Cost $1,529,329) | Total Investments 233.9%<br>(Cost $1,529,329) | $— | 1153739 |
|  Financial Derivative<br>Instruments (i)(k) 0.0%<br> (Cost or Premiums, net $(319)) | Financial Derivative<br>Instruments (i)(k) 0.0%<br> (Cost or Premiums, net $(319)) |  | 180 |
| Other Assets and Liabilities, net (133.9)% | Other Assets and Liabilities, net (133.9)% |  | (660699) |
| Net Assets 100.0% | Net Assets 100.0% | $— | 493220 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) Principal only security.

(c) When-issued security.

(d) Coupon represents a weighted average yield to maturity.

(e) Zero coupon security.

(f) Principal amount of security is adjusted for inflation.

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(g) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| GSC | 3.500% | 03/31/2026 | 04/01/2026 | $553 | U.S. Treasury Strips 0.000% due 08/15/2048 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(551) | $553 | $553 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(551) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553 |

---

64 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | **Borrowing**<br> **Rate<sup>(2)</sup>** | **Settlement**<br> **Date** | **Maturity**<br> **Date** | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOO | 3.730% | 03/31/2026 | 04/01/2026 | $(16262) | $(16262) |
|  | 3.760 | 03/31/2026 | 04/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(262637) | (262637) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | (101856) | (102134) |
|  DEU | 3.760 | 03/18/2026 | 04/08/2026 | (6878) | (6888) |
|  | 3.770 | 03/03/2026 | 04/07/2026 | (1706) | (1711) |
|  | 3.770 | 03/04/2026 | 04/08/2026 | (1710) | (1715) |
|  | 3.770 | 03/24/2026 | 04/07/2026 | (2242) | (2244) |
|  IND | 3.760 | 03/31/2026 | 04/07/2026 | (94024) | (94034) |
|  JPS | 3.700 | 04/01/2026 | 04/07/2026 | (16241) | (16241) |
|  | 3.760 | 03/09/2026 | 04/20/2026 | (5040) | (5052) |
|  | 3.760 | 03/12/2026 | 04/23/2026 | (6078) | (6090) |
|  | 3.780 | 03/31/2026 | 04/01/2026 | (620) | (620) |
|  MSC | 1.750 | 03/30/2026 | 04/06/2026 | (14094) | (14095) |
|  Total Reverse Repurchase Agreements |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(529723) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(2)</sup> | Borrowing<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(3)</sup> |
|  UBS | 3.770% | 03/27/2026 | 05/04/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59762) | $(59793) |
|  Total Sale-Buyback Transactions |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59793) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(3)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(4)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOO | $0 | $(278899) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278899) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278529 | $(370) |
|  BSN | 0 | (102134) | 0 | (102134) | 101143 | (991) |
|  DEU | 0 | (12558) | 0 | (12558) | 11933 | (625) |
|  GSC | 553 | 0 | 0 | 553 | (551) | 2 |
|  IND | 0 | (94034) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92988 | (1046) |
|  JPS | 0 | (28003) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16213) |
|  MSC | 0 | (14095) | 0 | (14095) | 14173 | 78 |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  UBS | 0 | 0 | (59793) | (59793) | 59651 | (142) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(529723) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59793) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  U.S. Treasury Obligations | $(279519) | $(233963) | $0 | $0 | $(513482) |
|  Total | $(279519) | $(233963) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(513482) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | 0 | (59793) | 0 | (59793) |
|  Total | $0 | $0 | $(59793) | $0 | $(59793) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(279519) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(233963) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59793) | $0 | $(573275) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(573275) |

---

(h) Securities with an aggregate market value of $568,159 and cash of $2,343 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **65** |

---

------

Schedule of Investments PIMCO Extended Duration Fund (Cont.)

<sup>(2)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(513411) at a weighted average interest rate of 4.151%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(3)</sup> Payable for sale-buyback transactions includes $(207) of deferred price drop. 

<sup>(4)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(5)</sup> Unsettled reverse repurchase agreements liability of $(16241) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### WRITTEN OPTIONS:

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110.000 | 04/24/2026 | 13 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | $(4) | $(5) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 13 | 13 | (3) | (2) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract June Futures  | 09/2027 | 498 | $120074 | $(679) | $34 | $0 |
|  3-Month SOFR Active Contract March Futures  | 06/2027 | 124 | 29879 | (165) | 11 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29926 | (102) | 7 | 0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 82 | 6096 | (36) | 57 | 0 |
|  Euro-Bund June Futures  | 06/2026 | 39 | 5652 | (141) | 41 | 0 |
|  Long Guilt June Futures  | 06/2026 | 134 | 15571 | (883) | 117 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 492 | 54635 | (848) | 89 | 0 |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 225 | 26227 | (936) | 0 | (18) |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3790) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | **Expiration<br>Month** | # of<br>Contracts | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | **Expiration<br>Month** | # of<br>Contracts | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Oat June Futures  | 06/2026 | 44 | $(6036) | $191 | $0 | $(56) |
|  Japan Government 10-Year Bond June Futures  | 06/2026 | 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13958) | 163 | 3 | (30) |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 170 | (35266) | 249 | 0 | (19) |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 194 | (20987) | 146 | 0 | (27) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 3367 | (382207) | 8809 | 0 | (710) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 1181 | (134486) | 4588 | 0 | (92) |
|  |  |  |  | $14146 | $3 | $(934) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10356 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(952) |

---

#### SWAP AGREEMENTS:

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
|  Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 16010 | $(70) | $(613) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(683) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | $0 |
|  Receive | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 03/18/2036 | 5080 | 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | 243 | 0 | (21) |
|  Receive<sup>(1)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/16/2036 | 10900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | 214 | 570 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43) |
|  Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 03/18/2028 | 1830000 | 56 | 22 | 78 | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 08/31/2028 | $3340 | 14 | (36) | (22) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 13400 | 21 | (56) | (35) | 0 | (11) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 10200 | (90) | 60 | (30) | 0 | (11) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 40779 | (41) | (78) | (119) | 0 | (48) |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | 8000 | 62 | 51 | 113 | 0 | (9) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 850 | (3) | (2) | (5) | 0 | (1) |

---

---

| | | |
|:---|:---|:---|
| **66** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.899% | Annual | 03/11/2035 | $700 | $(2) | $(2) | $(4) | $0 | $(1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 800 | (2) | (4) | (6) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 5100 | (15) | 143 | 128 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 500 | (1) | 5 | 4 | 0 | 0 |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | 6100 | 75 | (9) | 66 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/15/2051 | 9100 | (387) | 3940 | 3553 | 24 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 10/23/2053 | 9100 | (155) | 3855 | 3700 | 28 | 0 |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 3000 | 57 | 13 | 70 | 12 | 0 |
|  Pay<sup>(1)</sup> | 6-Month AUD-BBR-BBSW | 4.750 | Semi-Annual | 12/20/2033 | 14000 | (133) | 26 | (107) | 62 | 0 |
|  Pay<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 | 5200 | (104) | (85) | (189) | 46 | 0 |
|  Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 4910 | 62 | 62 | 124 | 0 | (55) |
|  Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 | 1000 | 2 | 2 | 4 | 0 | (2) |
|  |  |  |  |  |  | $(282) | $7735 | $7453 | $223 | $(220) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(282) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7735 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7453 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(220) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | Total | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | Total |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $0 | $359 | $223 | $582 | $(7) | $(952) | $(220) | $(1179) |

---

(j) Securities with an aggregate market value of $13,779 and cash of $6,230 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(k) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | **Currency to<br>be Received** | Asset | Liability |
|  AZD | 04/2026 | 6101 | $4454 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | $0 |
|  BOA | 04/2026 | 5 | 1 | 0 | 0 |
|  | 04/2026 | 1324 | 192 | 0 | 0 |
|  | 04/2026 | 39115 | 417 | 4 | 0 |
|  | 04/2026 | 277473 | 190 | 6 | 0 |
|  | 04/2026 | 1031 | 279 | 1 | 0 |
|  | 04/2026 | $1 | 5 | 0 | 0 |
|  | 04/2026 | 70 | 482 | 0 | 0 |
|  | 04/2026 | 8816 | 7671 | 50 | 0 |
|  | 04/2026 | 210 | 649 | 0 | (4) |
|  | 04/2026 | 417 | 39184 | 0 | 0 |
|  | 04/2026 | 65 | 1197 | 2 | 0 |
|  | 05/2026 | 7671 | $8830 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) |
|  | 06/2026 | 5 | 1 | 0 | 0 |
|  | 06/2026 | 1801 | 583 | 9 | 0 |
|  | 06/2026 | 6795 | 379 | 2 | 0 |
|  | 06/2026 | $96 | 298 | 0 | (1) |
|  BPS | 04/2026 | 220 | $157 | 5 | 0 |
|  | 04/2026 | 2858 | 548 | 0 | (4) |
|  | 04/2026 | 484 | 70 | 0 | 0 |
|  | 04/2026 | 1426 | 462 | 8 | 0 |
|  | 04/2026 | 519116 | 346 | 1 | (1) |
|  | 04/2026 | 946 | 259 | 5 | 0 |
|  | 04/2026 | 46736 | 1446 | 28 | (1) |
|  | 04/2026 | $502 | 712 | 0 | (11) |
|  | 04/2026 | 548 | 2858 | 4 | 0 |
|  | 04/2026 | 2315 | 39172077 | 0 | (8) |
|  | 04/2026 | 263 | 834 | 2 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **67** |

---

------

Schedule of Investments PIMCO Extended Duration Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $378 | 565678 | $1 | $(4) |
|  | 04/2026 | 503 | 1814 | 0 | (14) |
|  | 04/2026 | 1 | 20 | 0 | 0 |
|  | 04/2026 | 1217 | 38906 | 0 | (3) |
|  | 04/2026 | 6019 | $355 | 0 | 0 |
|  | 05/2026 | 833 | 263 | 0 | (2) |
|  | 05/2026 | 101743 | 1075 | 0 | (4) |
|  | 05/2026 | 23394 | 726 | 0 | (3) |
|  | 05/2026 | $420 | 2205 | 3 | 0 |
|  | 05/2026 | 541 | 9204033 | 1 | 0 |
|  | 05/2026 | 108 | 3545 | 0 | 0 |
|  | 06/2026 | 167 | 2813915 | 0 | (2) |
|  | 06/2026 | 59 | 1888 | 0 | 0 |
|  BRC | 04/2026 | 547 | $152 | 5 | 0 |
|  | 04/2026 | 3784 | 120 | 5 | 0 |
|  | 04/2026 | 276192 | 6086 | 0 | (40) |
|  | 04/2026 | $484 | 4390 | 0 | (20) |
|  | 04/2026 | 2796 | 127969 | 18 | 0 |
|  | 04/2026 | 6990 | $427 | 15 | 0 |
|  | 05/2026 | 17600 | 377 | 0 | (3) |
|  | 06/2026 | 355 | 115 | 2 | 0 |
|  BSH | 04/2026 | $846 | 135016 | 5 | 0 |
|  | 04/2026 | 3753 | 6502 | 0 | (17) |
|  | 04/2026 | 2215 | 8013 | 0 | (57) |
|  | 05/2026 | 134610 | $846 | 0 | (5) |
|  | 05/2026 | 6502 | 3758 | 18 | 0 |
|  | 05/2026 | 12203 | 3577 | 80 | 0 |
|  CBK | 04/2026 | 565 | 398 | 8 | 0 |
|  | 04/2026 | 830 | 609 | 12 | 0 |
|  | 04/2026 | 447 | 65 | 0 | 0 |
|  | 04/2026 | 204 | 272 | 2 | 0 |
|  | 04/2026 | 2698379 | 160 | 1 | 0 |
|  | 04/2026 | 298526 | 3194 | 42 | 0 |
|  | 04/2026 | 1015 | 104 | 0 | (1) |
|  | 04/2026 | 1035 | 111 | 2 | 0 |
|  | 04/2026 | 26 | 1 | 0 | 0 |
|  | 04/2026 | 1873 | 59 | 0 | 0 |
|  | 04/2026 | $202 | 1392 | 0 | 0 |
|  | 04/2026 | 7898 | 727796 | 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(194) |
|  | 06/2026 | 402 | $131 | 2 | 0 |
|  | 06/2026 | $280 | 4726209 | 0 | (2) |
|  | 06/2026 | 568 | 10043 | 0 | (11) |
|  | 07/2026 | 5024 | $1486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | 0 |
|  | 09/2026 | $134 | 2405 | 0 | (2) |
|  | 01/2027 | 3046 | $894 | 31 | 0 |
|  DUB | 04/2026 | 695 | 100 | 0 | 0 |
|  | 04/2026 | 2877 | 930 | 14 | 0 |
|  | 04/2026 | 119186 | 1265 | 8 | (2) |
|  | 04/2026 | $2851 | 4156 | 16 | 0 |
|  | 04/2026 | 210 | 1437 | 0 | (1) |
|  | 04/2026 | 1391 | 131123 | 9 | (7) |
|  | 04/2026 | 5739 | 7332 | 0 | (37) |
|  | 04/2026 | 481 | 15720 | 0 | (4) |
|  | 05/2026 | 4156 | $2850 | 0 | (17) |
|  | 05/2026 | 7315 | 5739 | 37 | 0 |
|  | 05/2026 | $100 | 693 | 0 | 0 |
|  | 06/2026 | 15688 | $481 | 3 | 0 |
|  | 06/2026 | 12648 | 397 | 4 | 0 |
|  FAR | 04/2026 | 1932 | 1369 | 36 | 0 |
|  | 04/2026 | 1659 | 2150 | 75 | 0 |
|  | 04/2026 | 1457 | 1952 | 24 | 0 |
|  | 04/2026 | 165246 | 1058 | 16 | 0 |
|  | 04/2026 | 609 | 169 | 5 | 0 |
|  | 04/2026 | $1831 | 1459 | 0 | (6) |
|  | 04/2026 | 1633 | 1214 | 0 | (26) |
|  | 04/2026 | 1053 | 168108 | 6 | 0 |
|  | 04/2026 | 31 | 40 | 0 | 0 |
|  | 05/2026 | 1454 | $1831 | 6 | 0 |
|  | 05/2026 | 1385 | 438 | 0 | (3) |
|  | 05/2026 | 167600 | 1053 | 0 | (6) |

---

---

| | | |
|:---|:---|:---|
| **68** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 05/2026 | 40 | $31 | $0 | $0 |
|  | 05/2026 | $1951 | 1457 | 0 | (24) |
|  | 06/2026 | 1245 | $404 | 7 | 0 |
|  | 06/2026 | 976 | 288 | 9 | 0 |
|  | 06/2026 | $475 | 8280 | 0 | (16) |
|  | 09/2026 | 1048 | $311 | 13 | 0 |
|  | 09/2026 | $109 | 1927 | 0 | (3) |
|  GLM | 04/2026 | 34186 | $6433 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167) |
|  | 04/2026 | 1544 | 497 | 5 | 0 |
|  | 04/2026 | 3629 | 40 | 2 | 0 |
|  | 04/2026 | $6523 | 34186 | 77 | 0 |
|  | 04/2026 | 185 | 1267 | 0 | (1) |
|  | 04/2026 | 224 | 3776277 | 0 | (1) |
|  | 04/2026 | 551 | 10167 | 16 | 0 |
|  | 04/2026 | 267 | 8764 | 0 | (1) |
|  | 06/2026 | 14 | $3 | 0 | 0 |
|  | 06/2026 | 2686173 | 159 | 1 | 0 |
|  | 06/2026 | 8749 | 267 | 0 | 0 |
|  | 06/2026 | $6433 | 34642 | 167 | 0 |
|  | 06/2026 | 281 | 4762569 | 0 | (1) |
|  | 06/2026 | 89 | 278 | 0 | 0 |
|  | 06/2026 | 1884 | 33178 | 0 | (44) |
|  | 07/2026 | 13 | $2 | 0 | 0 |
|  IND | 04/2026 | 7671 | 9057 | 191 | 0 |
|  JPM | 04/2026 | 1628 | 236 | 0 | (1) |
|  | 04/2026 | 61893 | 658 | 5 | 0 |
|  | 04/2026 | 2134 | 580 | 6 | (1) |
|  | 04/2026 | 6121 | 4857 | 96 | 0 |
|  | 04/2026 | $658 | 61999 | 1 | 0 |
|  | 04/2026 | 2497 | 44827 | 6 | (5) |
|  | 04/2026 | 32875 | $1956 | 18 | (2) |
|  | 05/2026 | 185 | 127 | 0 | (1) |
|  | 05/2026 | $106 | 729 | 1 | 0 |
|  | 06/2026 | 1005 | $325 | 5 | 0 |
|  | 06/2026 | 7594 | 423 | 2 | 0 |
|  MBC | 04/2026 | 2 | 3 | 0 | 0 |
|  | 04/2026 | 90640 | 958 | 2 | 0 |
|  | 04/2026 | 182489 | 1174 | 24 | 0 |
|  | 04/2026 | 1778522 | 1215 | 33 | 0 |
|  | 04/2026 | 184 | 19 | 0 | 0 |
|  | 04/2026 | 1950 | 208 | 2 | 0 |
|  | 04/2026 | 14555 | 458 | 16 | 0 |
|  | 04/2026 | $668 | 964 | 0 | (3) |
|  | 04/2026 | 253 | 199 | 0 | (4) |
|  | 04/2026 | 980 | 90640 | 0 | (24) |
|  | 04/2026 | 1092 | 173918 | 4 | 0 |
|  | 04/2026 | 165 | 3038 | 5 | 0 |
|  | 04/2026 | 212 | 2079 | 2 | 0 |
|  | 04/2026 | 619 | 2277 | 0 | (6) |
|  | 05/2026 | 74692 | $469 | 0 | (3) |
|  | 05/2026 | 2079 | 212 | 0 | (2) |
|  | 05/2026 | $3 | 2 | 0 | 0 |
|  | 06/2026 | 864 | $48 | 0 | 0 |
|  MYI | 04/2026 | 177 | 50 | 2 | 0 |
|  | 06/2026 | 1968 | 641 | 14 | 0 |
|  NGF | 04/2026 | 881 | 92 | 1 | 0 |
|  | 04/2026 | $2609 | 119324 | 31 | 0 |
|  RBC | 04/2026 | 1250 | $981 | 9 | 0 |
|  SCX | 04/2026 | 129959 | 833 | 14 | 0 |
|  | 04/2026 | 5473 | 3272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | 0 |
|  | 04/2026 | 1343 | 42 | 1 | 0 |
|  | 04/2026 | $5012 | 6940 | 0 | (24) |
|  | 04/2026 | 612 | 458 | 0 | (5) |
|  | 04/2026 | 807 | 73455 | 0 | (31) |
|  | 04/2026 | 190 | 687 | 0 | (5) |
|  | 05/2026 | 6930 | $5012 | 23 | 0 |
|  | 06/2026 | $471 | 7940432 | 0 | (4) |
|  SSB | 04/2026 | 3115 | $2217 | 68 | 0 |
|  | 04/2026 | 840 | 5 | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **69** |

---

------

Schedule of Investments PIMCO Extended Duration Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | 1029 | $606 | $15 | $0 |
|  | 04/2026 | $900 | 4732 | 14 | 0 |
|  UAG | 04/2026 | 90744 | $965 | 9 | 0 |
|  | 04/2026 | 1768 | 484 | 8 | 0 |
|  | 04/2026 | 3784 | 116 | 1 | 0 |
|  | 04/2026 | $1924 | 181660 | 2 | (2) |
|  | 04/2026 | 1284 | 4636 | 0 | (35) |
|  | 04/2026 | 116 | 3784 | 0 | (2) |
|  | 06/2026 | 1528 | $495 | 8 | 0 |
|  | 06/2026 | 1102 | 61 | 0 | 0 |
|  | 06/2026 | $701 | 12239 | 0 | (23) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1014) |

---

#### PURCHASED OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW 1,400.000 | 07/09/2026 | 2300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $23 | $7 |

---

#### WRITTEN OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW 1,350.000 | 07/09/2026 | 2300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600% | 04/16/2026 | 4000 | $(13) | $(4) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 4000 | (13) | (21) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 2700 | (9) | (8) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 2700 | (10) | (7) |
|  |  |  |  |  |  | $(45) | $(40) |
|  Total Written Options |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(2)</sup> |
|  AZD | $68 | $0 | $0 | $68 | $0 | $0 | $0 | $0 | $68 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $68 |
|  BOA | 74 | 7 | 0 | 81 | (55) | (2) | 0 | (57) | 24 | 0 | 24 |
|  BPS | 58 | 0 | 0 | 58 | (57) | 0 | 0 | (57) | 1 | 0 | 1 |
|  BRC | 45 | 0 | 0 | 45 | (63) | 0 | 0 | (63) | (18) | 0 | (18) |
|  BSH | 103 | 0 | 0 | 103 | (79) | 0 | 0 | (79) | 24 | 0 | 24 |
|  CBK | 156 | 0 | 0 | 156 | (210) | 0 | 0 | (210) | (54) | 0 | (54) |
|  DUB | 91 | 0 | 0 | 91 | (68) | 0 | 0 | (68) | 23 | 0 | 23 |
|  FAR | 197 | 0 | 0 | 197 | (84) | 0 | 0 | (84) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 |
|  GLM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(215) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(255) | 13 | 0 | 13 |
|  IND | 191 | 0 | 0 | 191 | 0 | 0 | 0 | 0 | 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280) | (89) |
|  JPM | 140 | 0 | 0 | 140 | (10) | 0 | 0 | (10) | 130 | 0 | 130 |
|  MBC | 88 | 0 | 0 | 88 | (42) | 0 | 0 | (42) | 46 | 0 | 46 |
|  MYI | 16 | 0 | 0 | 16 | 0 | 0 | 0 | 0 | 16 | 0 | 16 |
|  NGF | 32 | 0 | 0 | 32 | 0 | 0 | 0 | 0 | 32 | 0 | 32 |
|  RBC | 9 | 0 | 0 | 9 | 0 | 0 | 0 | 0 | 9 | 0 | 9 |
|  SCX | 165 | 0 | 0 | 165 | (69) | 0 | 0 | (69) | 96 | 0 | 96 |

---

---

| | | |
|:---|:---|:---|
| **70** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Assets** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | **Financial Derivative Liabilities** | | | |
| **Counterparty** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Purchased<br>Options** | **Swap<br>Agreements** | **Total<br>Over the<br>Counter** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Written<br>Options** | **Swap<br>Agreements** | **Total<br>Over the<br>Counter** | **Net Market<br>Value of OTC<br>Derivatives** | **Collateral<br>Pledged/<br>(Received)** | **Net<br>Exposure<sup>(2)</sup>** |
|  SSB | $97 | $0 | $0 | $97 | $0 | $0 | $0 | $0 | $97 | $0 | $97 |
|  UAG | 28 | 0 | 0 | 28 | (62) | 0 | 0 | (62) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1014) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1056) |  |  |  |

---

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $359 | $359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 223 | 223 |
|  | $0 | $0 | $0 | $0 | $582 | $582 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $1826 | $0 | $1826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 7 | 0 | 7 |
|  | $0 | $0 | $0 | $1833 | $0 | $1833 |
|  | $0 | $0 | $0 | $1833 | $582 | $2415 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $7 | $7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 952 | 952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 220 | 220 |
|  | $0 | $0 | $0 | $0 | $1179 | $1179 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $1014 | $0 | $1014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 2 | 40 | 42 |
|  | $0 | $0 | $0 | $1016 | $40 | $1056 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $486 | $486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (10570) | (10570) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 3639 | 3639 |
|  | $0 | $0 | $0 | $0 | $(6445) | $(6445) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(573) | $0 | $(573) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (11) | 0 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 39 | 0 | 0 | 695 | 734 |
|  | $0 | $39 | $0 | $(584) | $695 | $150 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(584) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5750) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6295) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 71

------

Schedule of Investments PIMCO Extended Duration Fund (Cont.) March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $1 | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 13394 | 13394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | (1404) | (1404) |
|  | $0 | $0 | $0 | $0 | $11991 | $11991 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $745 | $0 | $745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (6) | 0 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 6 | (7) | (1) |
|  | $0 | $0 | $0 | $745 | $(7) | $738 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11984 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12729 |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Industrials | $0 | $4898 | $0 | $4898 |
|  U.S. Government Agencies | 0 | 111703 | 0 | 111703 |
|  U.S. Treasury Obligations | 0 | 955584 | 0 | 955584 |
|  Non-Agency Mortgage-Backed Securities | 0 | 13307 | 0 | 13307 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 1454 | 0 | 1454 |
| &nbsp;&nbsp; CMBS Other | 0 | 4877 | 0 | 4877 |
| &nbsp;&nbsp; Home Equity Other | 0 | 5848 | 0 | 5848 |
| &nbsp;&nbsp; Other ABS | 0 | 25758 | 925 | 26683 |
|  Sovereign Issues | 0 | 21113 | 0 | 21113 |
|  Short-Term Instruments |  |  |  |  |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 553 | 0 | 553 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 1371 | 0 | 1371 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146466 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147391 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $6348 | $0 | $0 | $6348 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6348 | $1146466 | $925 | $1153739 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | $218 | $364 | $0 | $582 |
|  Over the counter | 0 | 1833 | 0 | 1833 |
|  | $218 | $2197 | $0 | $2415 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (86) | (1093) | 0 | (1179) |
|  Over the counter | 0 | (1056) | 0 | (1056) |
|  | $(86) | $(2149) | $0 | $(2235) |
|  Total Financial Derivative Instruments | $132 | $48 | $0 | $180 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6480 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146514 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153919 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | |
|:---|:---|:---|
| **72** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

Schedule of Investments PIMCO GNMA and Government Securities Fund March 31, 2026

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 261.7% | INVESTMENTS IN SECURITIES 261.7% | INVESTMENTS IN SECURITIES 261.7% | INVESTMENTS IN SECURITIES 261.7% | INVESTMENTS IN SECURITIES 261.7% |
| U.S. GOVERNMENT AGENCIES 257.2% | U.S. GOVERNMENT AGENCIES 257.2% | U.S. GOVERNMENT AGENCIES 257.2% | U.S. GOVERNMENT AGENCIES 257.2% | U.S. GOVERNMENT AGENCIES 257.2% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  1.500% due 12/01/2050 - 04/01/2051 | $— | 233 | $— | 181 |
|  2.000% due 01/01/2036 - 10/01/2036 |  | 5543 |  | 5109 |
|  2.500% due 01/01/2028 - 03/01/2052 |  | 15487 |  | 13640 |
|  3.000% due 10/01/2026 - 02/01/2052 |  | 13657 |  | 12862 |
|  3.000% due 05/01/2032 - 07/01/2051 (g) |  | 46847 |  | 41959 |
|  3.050% due 03/01/2032 |  | 1771 |  | 1650 |
|  3.500% due 03/01/2042 - 02/01/2050 |  | 11478 |  | 10741 |
|  3.829% due 01/01/2050 •  |  | 725 |  | 714 |
|  4.000% due 04/01/2041 - 04/01/2049 |  | 11431 |  | 11028 |
|  4.000% due 10/01/2048 (g) |  | 7345 |  | 7027 |
|  4.400% due 06/01/2030 |  | 613 |  | 612 |
|  4.500% due 01/01/2036 - 06/01/2053 |  | 3509 |  | 3463 |
|  5.000% due 07/01/2033 - 03/01/2056 |  | 20508 |  | 20456 |
|  5.500% due 09/01/2034 - 05/01/2054 |  | 18768 |  | 19161 |
|  5.500% due 06/01/2039 - 01/01/2055 (g) |  | 154384 |  | 155591 |
|  6.000% due 06/01/2045 - 09/01/2055 |  | 18077 |  | 18724 |
|  6.000% due 07/01/2053 - 02/01/2054 (g) |  | 42202 |  | 43448 |
|  6.075% due 05/01/2031 •  |  | 3 |  | 3 |
|  6.372% due 09/01/2034 •  |  | 216 |  | 223 |
|  6.403% due 10/01/2039 •  |  | 515 |  | 535 |
|  6.430% due 11/01/2036 •  |  | 229 |  | 239 |
|  6.500% due 05/01/2045 - 09/01/2055 |  | 43944 |  | 45928 |
|  6.500% due 08/01/2054 - 09/01/2055 (g) |  | 20813 |  | 21540 |
|  6.525% due 11/01/2041 •  |  | 509 |  | 534 |
|  7.000% due 01/01/2055 |  | 285 |  | 299 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ |  | 7456 |  | 7244 |
|  4.228% due 10/25/2034 ~ |  | 10212 |  | 10062 |
|  4.660% due 01/25/2031 |  | 3300 |  | 3337 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  0.000% due 05/15/2033 - 10/15/2058 (b)(d) |  | 4670 |  | 2999 |
|  0.868% due 05/15/2041 •  |  | 3276 |  | 3168 |
|  1.250% due 12/15/2044 |  | 6345 |  | 5313 |
|  1.500% due 03/15/2028 |  | 1237 |  | 1212 |
|  1.800% due 05/15/2044 |  | 3089 |  | 3026 |
|  1.860% due 10/15/2037 ~(a) |  | 19 |  | 1 |
|  1.902% due 10/15/2035 •  |  | 298 |  | 279 |
|  1.919% due 10/15/2037 ~(a) |  | 37 |  | 2 |
|  1.944% due 05/15/2037 ~(a) |  | 30 |  | 2 |
|  2.000% due 11/25/2050 (a) |  | 2361 |  | 317 |
|  2.024% due 03/15/2037 ~(a) |  | 42 |  | 2 |
|  2.156% due 11/15/2036 ~(a) |  | 114 |  | 6 |
|  2.179% due 05/15/2035 •  |  | 403 |  | 404 |
|  2.192% due 11/15/2038 ~(a) |  | 123 |  | 7 |
|  2.267% due 08/15/2041 ~(a) |  | 37 |  | 2 |
|  2.288% due 06/15/2038 ~(a) |  | 96 |  | 6 |
|  2.348% due 10/15/2041 ~(a) |  | 86 |  | 5 |
|  2.369% due 02/15/2038 ~(a) |  | 70 |  | 4 |
|  2.500% due 08/15/2027 (a) |  | 63 |  | 1 |
|  2.513% due 08/15/2036 ~(a) |  | 52 |  | 4 |
|  3.000% due 11/15/2027 - 06/25/2050 (a) |  | 21685 |  | 3701 |
|  3.500% due 04/25/2050 (a) |  | 26348 |  | 5356 |
|  3.963% due 02/15/2027 •(a) |  | 16 |  | 0 |
|  4.000% due 07/15/2034 - 11/15/2042 (a) |  | 1318 |  | 181 |
|  4.146% due 04/15/2038 •  |  | 1520 |  | 1502 |
|  4.287% due 06/15/2042 •  |  | 486 |  | 485 |
|  4.326% due 01/25/2050 •  |  | 128 |  | 126 |
|  4.532% due 12/25/2055 •  |  | 8478 |  | 8477 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.562% due 09/25/2055 - 11/25/2055 •  | $— | 20729 | $— | 20845 |
|  4.672% due 03/25/2055 •  |  | 34400 |  | 34226 |
|  4.782% due 08/25/2054 •  |  | 1585 |  | 1595 |
|  4.912% due 05/25/2055 •  |  | 1420 |  | 1428 |
|  4.962% due 03/25/2055 •  |  | 3502 |  | 3527 |
|  Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS |
|  2.500% due 10/15/2052 (a) |  | 17685 |  | 2674 |
|  3.500% due 01/15/2043 - 08/15/2045 (a) |  | 828 |  | 133 |
|  4.146% due 10/15/2037 •  |  | 184 |  | 182 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  4.560% due 07/25/2033 ~ |  | 405 |  | 388 |
|  Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust |
|  3.000% due 09/25/2045 - 12/25/2046 |  | 2750 |  | 2384 |
|  3.500% due 12/25/2046 |  | 2145 |  | 1891 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  1.500% due 06/01/2051 |  | 155 |  | 120 |
|  2.000% due 07/01/2028 - 06/01/2037 |  | 2965 |  | 2743 |
|  2.000% due 11/01/2036 (g) |  | 11187 |  | 10306 |
|  2.500% due 01/01/2033 - 04/01/2052 |  | 22779 |  | 19338 |
|  3.000% due 10/01/2026 - 05/01/2058 |  | 34289 |  | 31289 |
|  3.000% due 02/01/2050 - 12/01/2050 (g) |  | 16133 |  | 14331 |
|  3.045% due 04/01/2029 |  | 877 |  | 852 |
|  3.123% due 01/01/2048 •  |  | 2894 |  | 2903 |
|  3.500% due 02/01/2030 - 01/01/2059 |  | 34939 |  | 32552 |
|  3.500% due 07/01/2043 - 08/01/2043 (g) |  | 28162 |  | 26605 |
|  3.750% due 02/01/2029 |  | 3655 |  | 3627 |
|  3.820% due 01/01/2029 |  | 723 |  | 720 |
|  4.000% due 05/01/2033 - 07/01/2053 |  | 27133 |  | 26235 |
|  4.140% due 04/01/2028 |  | 774 |  | 775 |
|  4.210% due 12/01/2032 |  | 2864 |  | 2832 |
|  4.300% due 12/01/2032 (g) |  | 27500 |  | 27276 |
|  4.374% due 02/01/2028 ~ |  | 1995 |  | 1991 |
|  4.385% due 04/01/2033 |  | 828 |  | 821 |
|  4.440% due 06/01/2033 |  | 2000 |  | 1999 |
|  4.490% due 04/01/2033 |  | 1600 |  | 1600 |
|  4.500% due 09/01/2028 - 07/01/2053 |  | 23318 |  | 22924 |
|  4.550% due 05/01/2028 |  | 100 |  | 101 |
|  4.580% due 08/01/2033 |  | 1000 |  | 1012 |
|  4.590% due 06/01/2033 (g) |  | 8060 |  | 8120 |
|  4.680% due 06/01/2030 (g) |  | 11283 |  | 11436 |
|  4.700% due 04/01/2033 |  | 1965 |  | 1990 |
|  4.770% due 12/01/2029 |  | 674 |  | 684 |
|  4.900% due 10/01/2028 |  | 353 |  | 359 |
|  4.990% due 03/01/2031 |  | 978 |  | 999 |
|  5.000% due 04/01/2027 - 03/01/2056 |  | 17579 |  | 17530 |
|  5.060% due 11/01/2034 |  | 6485 |  | 6693 |
|  5.070% due 09/01/2033 |  | 819 |  | 848 |
|  5.260% due 06/01/2031 |  | 1214 |  | 1264 |
|  5.300% due 09/01/2038 |  | 896 |  | 939 |
|  5.320% due 10/01/2043 |  | 188 |  | 194 |
|  5.410% due 12/01/2031 |  | 814 |  | 852 |
|  5.410% due 05/01/2034 (g) |  | 9495 |  | 9968 |
|  5.500% due 12/01/2032 - 09/01/2053 |  | 6873 |  | 7011 |
|  5.500% due 02/01/2040 - 05/01/2054 (g) |  | 27017 |  | 27399 |
|  5.570% due 10/01/2028 |  | 429 |  | 431 |
|  5.610% due 10/01/2028 |  | 659 |  | 662 |
|  5.700% due 08/01/2030 |  | 927 |  | 975 |
|  5.752% due 08/01/2049 •  |  | 629 |  | 656 |
|  5.810% due 06/01/2031 (g) |  | 13800 |  | 14032 |
|  5.820% due 11/01/2033 |  | 1230 |  | 1328 |
|  5.850% due 11/01/2028 |  | 2303 |  | 2399 |
|  5.870% due 12/01/2033 |  | 1500 |  | 1626 |
|  5.915% due 02/01/2042 •  |  | 53 |  | 54 |
|  5.960% due 11/01/2033 |  | 535 |  | 581 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.000% due 04/01/2032 - 04/01/2054 | $— | 12357 | $— | 12754 |
|  6.000% due 11/01/2053 (g) |  | 25642 |  | 26521 |
|  6.010% due 07/01/2028 |  | 1135 |  | 1176 |
|  6.076% due 05/01/2035 •  |  | 80 |  | 82 |
|  6.123% due 09/01/2041 •  |  | 84 |  | 86 |
|  6.182% due 10/01/2037 •  |  | 855 |  | 893 |
|  6.228% due 01/01/2036 •  |  | 142 |  | 148 |
|  6.383% due 05/01/2038 •  |  | 480 |  | 499 |
|  6.500% due 05/01/2045 - 09/01/2055 |  | 24328 |  | 25251 |
|  6.500% due 01/01/2055 - 04/01/2055 (g) |  | 18235 |  | 18875 |
|  6.660% due 04/01/2030 |  | 1979 |  | 2118 |
|  Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS |
|  3.500% due 08/25/2043 (a) |  | 73 |  | 12 |
|  6.500% due 04/25/2038 (a) |  | 37 |  | 8 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  0.000% due 06/25/2043 •(a) |  | 1037 |  | 45 |
|  0.200% due 02/25/2043 •(a) |  | 292 |  | 2 |
|  0.506% due 10/25/2045 •  |  | 283 |  | 185 |
|  0.520% due 10/25/2042 •  |  | 93 |  | 64 |
|  1.217% due 11/25/2040 •(a) |  | 2232 |  | 112 |
|  1.500% due 04/25/2028 |  | 2496 |  | 2445 |
|  1.868% due 10/25/2046 ~(a) |  | 42 |  | 2 |
|  1.875% due 07/25/2044 ~(a) |  | 133 |  | 5 |
|  1.877% due 07/25/2052 ~(a) |  | 132 |  | 6 |
|  1.944% due 04/25/2046 ~(a) |  | 97 |  | 5 |
|  1.979% due 09/25/2045 ~(a) |  | 85 |  | 3 |
|  1.980% due 07/25/2044 ~(a) |  | 179 |  | 11 |
|  2.067% due 07/25/2045 ~(a) |  | 565 |  | 31 |
|  2.070% due 04/25/2055 ~(a) |  | 220 |  | 10 |
|  2.072% due 03/25/2045 ~(a) |  | 301 |  | 16 |
|  2.130% due 01/25/2045 ~(a) |  | 104 |  | 6 |
|  2.173% due 08/25/2054 ~(a) |  | 201 |  | 10 |
|  2.224% due 11/25/2049 •(a) |  | 269 |  | 34 |
|  2.291% due 08/25/2044 ~(a) |  | 102 |  | 7 |
|  2.374% due 08/25/2042 •(a) |  | 318 |  | 19 |
|  2.398% due 08/25/2055 ~(a) |  | 127 |  | 6 |
|  2.424% due 11/25/2044 - 06/25/2048 •(a) |  | 3631 |  | 413 |
|  2.500% due 02/25/2051 (a) |  | 3084 |  | 527 |
|  3.000% due 03/25/2043 - 09/25/2048 |  | 1266 |  | 1095 |
|  3.000% due 04/25/2043 - 12/25/2048 (a) |  | 764 |  | 90 |
|  3.500% due 04/25/2046 (a) |  | 64 |  | 5 |
|  4.000% due 06/25/2044 (a) |  | 16 |  | 1 |
|  4.076% due 12/25/2047 •  |  | 3495 |  | 3419 |
|  4.147% due 10/25/2040 ~ |  | 342 |  | 344 |
|  4.226% due 02/25/2049 •  |  | 149 |  | 147 |
|  4.476% due 10/25/2037 •  |  | 487 |  | 488 |
|  4.481% due 01/25/2051 •  |  | 12496 |  | 12547 |
|  4.638% due 11/25/2031 ~ |  | 1398 |  | 1409 |
|  4.658% due 05/25/2042 ~ |  | 426 |  | 427 |
|  4.762% due 11/25/2055 •  |  | 3000 |  | 3010 |
|  4.862% due 11/25/2055 •  |  | 4044 |  | 4082 |
|  4.912% due 10/25/2055 •  |  | 3220 |  | 3241 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  3.862% due 04/25/2042 ~ |  | 216 |  | 213 |
|  5.199% due 05/25/2042 ~ |  | 626 |  | 623 |
|  5.438% due 01/25/2042 ~ |  | 747 |  | 726 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  4.765% due 03/25/2042 ~ |  | 358 |  | 356 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) |  | 581 |  | 26 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  0.000% due 10/16/2042 - 08/16/2052 ~(a) |  | 4631 |  | 0 |
|  0.750% due 11/16/2051 ~(a) |  | 13 |  | 0 |
|  2.500% due 06/15/2043 - 02/20/2063 |  | 22849 |  | 19628 |
|  2.500% due 03/20/2051 - 12/20/2051 (g) |  | 102456 |  | 88267 |
|  3.000% due 11/20/2026 - 02/20/2056 |  | 76876 |  | 69028 |
|  3.000% due 02/20/2048 - 11/20/2055 (g) |  | 71170 |  | 63420 |
|  3.150% due 11/20/2042 - 12/20/2042 |  | 368 |  | 333 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **73** |

---

------

Schedule of Investments PIMCO GNMA and Government Securities Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.250% due 05/15/2042 | $— | 412 | $— | 383 |
|  3.500% due 11/20/2034 - 01/20/2063 |  | 99492 |  | 92424 |
|  3.500% due 05/20/2047 - 01/20/2055 (g) |  | 171001 |  | 156844 |
|  3.750% due 06/20/2045 - 12/20/2045 |  | 2385 |  | 2222 |
|  4.000% due 09/20/2038 - 08/20/2062 |  | 27300 |  | 25944 |
|  4.050% due 04/15/2040 - 11/15/2040 |  | 696 |  | 665 |
|  4.427% due 03/20/2058 •  |  | 114 |  | 115 |
|  4.500% due 04/15/2030 - 08/20/2062 |  | 54807 |  | 53788 |
|  4.875% due 08/15/2039 - 10/15/2040 |  | 214 |  | 214 |
|  5.000% due 12/20/2032 - 10/20/2062 |  | 15376 |  | 15430 |
|  5.250% due 05/15/2033 - 10/15/2033 |  | 112 |  | 112 |
|  5.375% due 08/20/2045 •  |  | 99 |  | 101 |
|  5.380% due 08/15/2034 |  | 33 |  | 34 |
|  5.475% due 06/15/2035 |  | 101 |  | 105 |
|  5.500% due 06/20/2032 - 02/20/2049 |  | 9640 |  | 9852 |
|  5.520% due 06/15/2034 |  | 71 |  | 71 |
|  5.530% due 05/15/2035 |  | 65 |  | 67 |
|  5.570% due 03/15/2035 |  | 51 |  | 51 |
|  5.625% due 02/20/2030 - 06/20/2038 •  |  | 84 |  | 85 |
|  5.680% due 12/15/2034 |  | 106 |  | 110 |
|  5.720% due 12/15/2034 |  | 43 |  | 45 |
|  5.750% due 09/15/2033 |  | 5 |  | 5 |
|  5.820% due 04/15/2034 - 12/15/2034 |  | 115 |  | 120 |
|  5.870% due 10/15/2034 |  | 48 |  | 50 |
|  5.875% due 10/15/2033 |  | 70 |  | 71 |
|  5.930% due 10/15/2034 |  | 35 |  | 36 |
|  5.930% due 12/20/2070 •  |  | 2447 |  | 2511 |
|  5.970% due 08/15/2034 |  | 43 |  | 44 |
|  6.000% due 04/15/2027 - 01/20/2056 |  | 22626 |  | 23070 |
|  6.000% due 08/20/2053 (g) |  | 16687 |  | 17425 |
|  6.020% due 01/15/2034 |  | 26 |  | 26 |
|  6.075% due 01/15/2034 |  | 71 |  | 72 |
|  6.250% due 03/15/2029 |  | 12 |  | 13 |
|  6.500% due 08/15/2026 - 07/20/2054 |  | 2850 |  | 2960 |
|  6.500% due 09/20/2055 (g) |  | 4492 |  | 4598 |
|  7.000% due 12/15/2026 - 12/20/2062 |  | 11684 |  | 12025 |
|  7.500% due 01/15/2027 - 10/15/2035 |  | 81 |  | 81 |
|  8.000% due 05/20/2027 - 07/15/2031 |  | 72 |  | 71 |
|  8.500% due 12/15/2029 - 12/15/2030 |  | 5 |  | 5 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  0.000% due 03/20/2034 - 12/20/2040 (b)(d) |  | 1670 |  | 1412 |
|  0.210% due 05/20/2043 •  |  | 421 |  | 222 |
|  0.508% due 09/20/2045 •  |  | 519 |  | 337 |
|  1.202% due 11/20/2045 ~(a) |  | 169 |  | 7 |
|  1.207% due 09/20/2045 ~(a) |  | 262 |  | 11 |
|  1.236% due 12/20/2045 ~(a) |  | 85 |  | 4 |
|  1.248% due 08/20/2045 ~(a) |  | 89 |  | 4 |
|  1.277% due 06/20/2043 ~(a) |  | 162 |  | 8 |
|  1.489% due 06/20/2042 ~(a) |  | 168 |  | 9 |
|  1.539% due 06/20/2042 ~(a) |  | 155 |  | 7 |
|  2.000% due 10/20/2050 - 02/20/2051 (a) |  | 33461 |  | 3828 |
|  2.260% due 09/20/2049 •(a) |  | 1532 |  | 181 |
|  2.500% due 09/20/2027 - 12/20/2051 (a) |  | 30888 |  | 4359 |
|  2.510% due 10/20/2050 •(a) |  | 1881 |  | 262 |
|  3.000% due 01/20/2029 - 09/20/2051 (a) |  | 32536 |  | 5210 |
|  3.000% due 08/20/2051 |  | 9993 |  | 6560 |
|  3.500% due 08/20/2042 - 09/20/2046 (a) |  | 1974 |  | 266 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.500% due 01/20/2052 - 12/20/2068 | 5553 | 4436 |
|  3.500% due 01/20/2069 ~ | 2574 | 2498 |
|  3.811% due 01/20/2031 ~ | 75 | 75 |
|  4.000% due 02/20/2042 - 11/20/2048 | 1920 | 1730 |
|  4.000% due 10/20/2043 (a) | 42 | 4 |
|  4.040% due 12/20/2050 •  | 2209 | 2062 |
|  4.082% due 11/20/2036 •  | 7426 | 7346 |
|  4.133% due 04/20/2070 •  | 155 | 154 |
|  4.136% due 06/20/2036 •  | 5280 | 5228 |
|  4.323% due 02/20/2074 •  | 4748 | 4754 |
|  4.363% due 09/20/2062 •  | 1 | 1 |
|  4.383% due 05/20/2069 •  | 499 | 499 |
|  4.403% due 02/20/2073 •  | 10319 | 10341 |
|  4.423% due 03/20/2071 •  | 207 | 208 |
|  4.463% due 08/20/2061 - 04/20/2074 •  | 935 | 943 |
|  4.473% due 08/20/2072 - 04/20/2073 •  | 1964 | 1980 |
|  4.491% due 12/20/2068 •  | 108 | 109 |
|  4.500% due 08/20/2045 (a) | 3220 | 597 |
|  4.500% due 09/20/2054 | 2981 | 2947 |
|  4.573% due 07/20/2073 - 07/20/2074 •  | 53886 | 54659 |
|  4.583% due 06/20/2066 •  | 113 | 114 |
|  4.643% due 08/20/2073 •  | 4695 | 4767 |
|  4.663% due 04/20/2066 •  | 574 | 577 |
|  4.673% due 03/20/2073 •  | 21041 | 21296 |
|  4.773% due 05/20/2073 •  | 8085 | 8276 |
|  4.823% due 05/20/2073 •  | 1396 | 1421 |
|  4.833% due 07/20/2070 - 08/20/2070 •  | 86125 | 87332 |
|  4.861% due 06/20/2068 •  | 249 | 250 |
|  5.033% due 09/20/2070 - 01/20/2071 •  | 57601 | 58713 |
|  5.083% due 09/20/2063 •  | 50 | 51 |
|  5.173% due 08/20/2071 •  | 1923 | 1976 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  2.000% due 05/01/2056 | 275000 | 227101 |
|  2.500% due 05/01/2056 | 109000 | 93731 |
|  3.000% due 03/01/2056 - 04/01/2056 | 10000 | 8929 |
|  3.500% due 03/01/2056 | 122262 | 112197 |
|  4.000% due 04/01/2056 - 05/01/2056 | 116950 | 109507 |
|  4.500% due 06/01/2040 - 05/01/2056 | 74770 | 72168 |
|  5.000% due 06/01/2040 - 05/01/2056 | 151450 | 149769 |
|  5.500% due 06/01/2040 -<br> 05/01/2056 | 70100 | 70342 |
|  6.000% due 05/01/2056 | 60000 | 60945 |
|  6.500% due 05/01/2056 | 65500 | 67883 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  3.000% due 04/01/2056 | 72300 | 63515 |
|  3.500% due 04/01/2041 | 7400 | 7125 |
|  4.000% due 05/01/2056 - 06/01/2056 | 11100 | 10467 |
|  4.500% due 04/01/2041 - 04/01/2056 | 56000 | 54295 |
|  5.000% due 05/01/2041 - 05/01/2056 | 102650 | 101322 |
|  6.000% due 06/01/2056 - 07/01/2056 | 209735 | 213451 |
|  Total U.S. Government Agencies<br>(Cost $3,500,438) | Total U.S. Government Agencies<br>(Cost $3,500,438) | 3432088 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 2.2% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.2% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.2% |
|  Angel Oak Mortgage Trust | Angel Oak Mortgage Trust | Angel Oak Mortgage Trust |
|  5.985% due 01/25/2069 þ | 336 | 337 |
|  Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust |
|  4.788% due 01/26/2036 ~ | 503 | 360 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  6.500% due 06/25/2054 ~ | 1367 | 1394 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  4.459% due 03/25/2032 ~ | 4 | 3 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  CSMC Trust | CSMC Trust | CSMC Trust |
|  2.500% due 07/25/2056 ~ | 988 | 824 |
|  4.699% due 05/27/2053 ~ | 1404 | 1270 |
|  IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust |
|  3.400% due 08/18/2043 | 6622 | 6467 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  3.000% due 05/25/2052 ~ | 5848 | 5090 |
|  4.693% due 12/25/2049 •  | 482 | 475 |
|  La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust |
|  3.358% due 01/15/2046 « | 1367 | 1267 |
|  4.250% due 09/29/2046 « | 2797 | 2563 |
|  La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust |
|  3.508% due 11/24/2042 «•  | 1890 | 1829 |
|  MFA Trust | MFA Trust | MFA Trust |
|  1.381% due 04/25/2065 ~ | 867 | 853 |
|  Mortgage Equity Conversion Asset Trust | Mortgage Equity Conversion Asset Trust | Mortgage Equity Conversion Asset Trust |
|  4.260% due 05/25/2042 •  | 2984 | 2740 |
|  Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
|  5.172% due 04/25/2056 •  | 800 | 802 |
|  Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust |
|  4.451% due 09/19/2032 •  | 2 | 2 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  1.636% due 04/25/2060 ~ | 1605 | 1469 |
|  2.710% due 01/25/2060 ~ | 1001 | 968 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $30,713) | Total Non-Agency Mortgage-Backed Securities (Cost $30,713) | 28713 |
| ASSET-BACKED SECURITIES 1.2% | ASSET-BACKED SECURITIES 1.2% | ASSET-BACKED SECURITIES 1.2% |
| AUTOMOBILE ABS OTHER 0.0% | AUTOMOBILE ABS OTHER 0.0% | AUTOMOBILE ABS OTHER 0.0% |
|  Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
|  4.550% due 01/10/2028 | 201 | 201 |
| CMBS OTHER 0.1% | CMBS OTHER 0.1% | CMBS OTHER 0.1% |
|  PFP Ltd. | PFP Ltd. | PFP Ltd. |
|  5.180% due 08/18/2043 •  | 1600 | 1602 |
| HOME EQUITY OTHER 0.0% | HOME EQUITY OTHER 0.0% | HOME EQUITY OTHER 0.0% |
|  Centex Home Equity Loan Trust | Centex Home Equity Loan Trust | Centex Home Equity Loan Trust |
|  4.093% due 01/25/2032 •  | 3 | 3 |
|  Home Equity Asset Trust | Home Equity Asset Trust | Home Equity Asset Trust |
|  4.393% due 11/25/2032 •  | 3 | 3 |
|  RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
|  6.025% due 02/25/2044 ~ | 279 | 280 |
|  |  | 286 |
| OTHER ABS 1.1% | OTHER ABS 1.1% | OTHER ABS 1.1% |
|  Apex Credit CLO Ltd. | Apex Credit CLO Ltd. | Apex Credit CLO Ltd. |
|  5.468% due 04/20/2036 •  | 2000 | 2003 |
|  BlueMountain CLO Ltd. | BlueMountain CLO Ltd. | BlueMountain CLO Ltd. |
|  4.858% due 10/25/2030 •  | 765 | 765 |
|  Bryant Park Funding Ltd. | Bryant Park Funding Ltd. | Bryant Park Funding Ltd. |
|  5.292% due 04/15/2037 •  | 2000 | 2005 |
|  Diameter Capital CLO 6 Ltd. | Diameter Capital CLO 6 Ltd. | Diameter Capital CLO 6 Ltd. |
|  5.282% due 04/15/2037 •  | 2600 | 2608 |
|  Dryden 54 Senior Loan Fund | Dryden 54 Senior Loan Fund | Dryden 54 Senior Loan Fund |
|  4.818% due 10/19/2029 •  | 68 | 68 |
|  KKR CLO 36 Ltd. | KKR CLO 36 Ltd. | KKR CLO 36 Ltd. |
|  4.822% due 10/15/2034 •  | 3400 | 3404 |
|  Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. |
|  4.868% due 07/20/2035 •  | 2100 | 2101 |
|  Sound Point CLO XXIII | Sound Point CLO XXIII | Sound Point CLO XXIII |
|  5.104% due 07/15/2034 •  | 500 | 501 |
|  Voya CLO Ltd. | Voya CLO Ltd. | Voya CLO Ltd. |
|  4.868% due 07/20/2032 •  | 577 | 577 |
|  |  | 14032 |
|  Total Asset-Backed Securities<br>(Cost $16,096) | Total Asset-Backed Securities<br>(Cost $16,096) | 16121 |

---

74 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **SHARES** | **SHARES** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| SHORT-TERM INSTRUMENTS 1.1% | SHORT-TERM INSTRUMENTS 1.1% | SHORT-TERM INSTRUMENTS 1.1% | SHORT-TERM INSTRUMENTS 1.1% | SHORT-TERM INSTRUMENTS 1.1% |
| MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (e) |  | 473545 | $— | 474 |
|  | **PRINCIPAL<br>AMOUNT<br>(000s)** | **PRINCIPAL<br>AMOUNT<br>(000s)** |  |  |
| REPURCHASE AGREEMENTS (f) 0.0% | REPURCHASE AGREEMENTS (f) 0.0% | REPURCHASE AGREEMENTS (f) 0.0% | REPURCHASE AGREEMENTS (f) 0.0% | REPURCHASE AGREEMENTS (f) 0.0% |
|  |  |  |  | 4 |
| U.S. TREASURY BILLS 1.1% | U.S. TREASURY BILLS 1.1% | U.S. TREASURY BILLS 1.1% | U.S. TREASURY BILLS 1.1% | U.S. TREASURY BILLS 1.1% |
|  3.682% due 04/07/2026 - 07/21/2026 (c)(d)(j) | $— | 14503 |  | 14379 |
| Total Short-Term Instruments<br> (Cost $14,856) | Total Short-Term Instruments<br> (Cost $14,856) | Total Short-Term Instruments<br> (Cost $14,856) |  | 14857 |
| Total Investments in Securities<br>(Cost $3,562,103) | Total Investments in Securities<br>(Cost $3,562,103) | Total Investments in Securities<br>(Cost $3,562,103) |  | 3491779 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SHARES | MARKET<br>VALUE<br>(000S) | MARKET<br>VALUE<br>(000S) |
| INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 36089 | $— | 351 |
| Total Short-Term Instruments<br>(Cost $351) | Total Short-Term Instruments<br>(Cost $351) |  | 351 |
| Total Investments in Affiliates<br>(Cost $351) | Total Investments in Affiliates<br>(Cost $351) |  | 351 |
| Total Investments 261.7%<br>(Cost $3,562,454) | Total Investments 261.7%<br>(Cost $3,562,454) | $— | 3492130 |
|  Financial Derivative<br>Instruments (h)(i) 1.8%<br> (Cost or Premiums, net $10,284) |  |  | 24137 |
| Other Assets and Liabilities, net (163.5)% | Other Assets and Liabilities, net (163.5)% |  | (2181956) |
| Net Assets 100.0% | Net Assets 100.0% | $— | 1334311 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) Principal only security.

(c) Coupon represents a weighted average yield to maturity.

(d) Zero coupon security.

(e) Coupon represents a 7-Day Yield.

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(f) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| JPS | 3.380% | 03/31/2026 | 04/01/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | U.S. Treasury Bills 0.000% due 06/09/2026 | $(4) | $4 | $4 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |

---

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(2)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  DEU | 3.780% | 03/12/2026 | 04/13/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223721) | $(224191) |
|  | 3.780 | 03/19/2026 | 04/21/2026 | (83598) | (83712) |
|  SAL | 3.770 | 03/31/2026 | 04/13/2026 | (16494) | (16495) |
|  | 3.780 | 03/12/2026 | 04/13/2026 | (392585) | (393410) |
|  WFS | 3.780 | 03/12/2026 | 04/13/2026 | (44581) | (44675) |
|  Total Reverse Repurchase Agreements |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762483) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 75

------

Schedule of Investments PIMCO GNMA and Government Securities Fund (Cont.)

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (88.7)% | U.S. Government Agencies (88.7)% | U.S. Government Agencies (88.7)% | U.S. Government Agencies (88.7)% | U.S. Government Agencies (88.7)% | U.S. Government Agencies (88.7)% |
| &nbsp;&nbsp; Government National Mortgage Association, TBA | 3.000% | 04/01/2056 | $20000 | $(17781) | $(17858) |
| &nbsp;&nbsp; Government National Mortgage Association, TBA | 3.000 | 05/01/2056 | 10000 | (8886) | (8921) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 1.500 | 04/01/2041 | 1000 | (906) | (899) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 04/01/2041 | 20500 | (18971) | (18863) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 05/01/2056 | 20800 | (16663) | (16750) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.500 | 04/01/2041 | 1625 | (1538) | (1536) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.500 | 05/01/2056 | 90950 | (76171) | (76444) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000 | 06/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171300 | (149914) | (150231) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000 | 04/01/2041 | 10800 | (10432) | (10316) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.500 | 06/01/2056 | 282800 | (257790) | (258697) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.000 | 05/01/2056 | 38600 | (37147) | (36397) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.000 | 06/11/2056 | 65600 | (62503) | (61775) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.500 | 06/01/2056 | 208720 | (200697) | (201123) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.500 | 05/01/2041 | 36000 | (36606) | (36674) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.500 | 05/01/2056 | 178150 | (179562) | (178741) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 6.500 | 06/01/2056 | 105050 | (108689) | (108588) |
|  Total Short Sales (88.7)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1184256) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183813) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(3)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  DEU | $0 | $(307903) | $0 | $(307903) | $314708 | $6805 |
|  JPS | 4 | 0 | 0 | 4 | (4) | 0 |
|  SAL | 0 | (409905) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12831 |
|  WFS | 0 | (44675) | 0 | (44675) | 46460 | 1785 |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762483) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  U.S. Government Agencies | $0 | $(762483) | $0 | $0 | $(762483) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762483) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(762483) |
|  Payable for reverse repurchase agreements  | Payable for reverse repurchase agreements  | Payable for reverse repurchase agreements  | Payable for reverse repurchase agreements  | Payable for reverse repurchase agreements  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762483) |

---

(g) Securities with an aggregate market value of $783,905 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(593064) at a weighted average interest rate of 4.175%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(3)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | |
|:---|:---|:---|
| **76** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;(h) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 1619 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179785 | $(3196) | $379 | $0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 161 | 18276 | (407) | 48 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3603) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 113 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23441) | $169 | $0 | $(9) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3434) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |

---

#### SWAP AGREEMENTS:

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed<br>Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed<br>Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.000% | Annual | 03/19/2027 | $26200 | $(609) | $428 | $(181) | $6 | $0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/20/2028 | 28400 | 558 | (682) | (124) | 0 | (20) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 03/20/2029 | 30600 | (993) | 410 | (583) | 0 | (25) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 03/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275410 | (15519) | 9539 | (5980) | 260 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2030 | 137400 | (128) | 882 | 754 | 0 | (144) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 70800 | 500 | (696) | (196) | 0 | (80) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2032 | 23000 | (616) | (95) | (711) | 28 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2032 | 26400 | (653) | 603 | (50) | 0 | (33) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2032 | 25600 | (580) | 524 | (56) | 0 | (32) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 03/18/2033 | 5400 | (95) | 87 | (8) | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 77600 | (552) | 1981 | 1429 | 0 | (94) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 64600 | 2234 | (1879) | 355 | 0 | (77) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 25600 | (275) | 396 | 121 | 0 | (28) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2035 | 5700 | 374 | (123) | 251 | 0 | (6) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2035 | 17600 | 741 | 181 | 922 | 0 | (17) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 | 90400 | (1190) | 1962 | 772 | 0 | (83) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 | 8000 | (249) | 165 | (84) | 0 | (7) |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | 100 | 2 | (1) | 1 | 0 | 0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17050) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13682 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3368) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(653) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | Total | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | Total |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(9) | $(653) | $(662) |

---

Cash of $32,806 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **77** |

---

------

Schedule of Investments PIMCO GNMA and Government Securities Fund (Cont.)

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### PURCHASED OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive <br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.480% | 07/14/2026 | 29900 | $243 | $188 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.095 | 04/06/2026 | 9000 | 27 | 1 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 06/11/2026 | 46800 | 22 | 27 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 06/30/2026 | 12100 | 24 | 11 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 09/04/2026 | 34200 | 26 | 82 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.098 | 02/06/2035 | 2900 | 258 | 190 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.098 | 02/06/2035 | 2900 | 258 | 276 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.265 | 05/01/2035 | 3600 | 319 | 255 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.265 | 05/01/2035 | 3600 | 319 | 327 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.470 | 06/04/2035 | 3500 | 314 | 270 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.470 | 06/04/2035 | 3500 | 314 | 301 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.400 | 06/25/2035 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.400 | 06/25/2035 | 7500 | 678 | 661 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.640 | 07/23/2035 | 14000 | 1259 | 1161 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.640 | 07/23/2035 | 7000 | 629 | 575 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.427 | 08/06/2035 | 6600 | 581 | 501 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.427 | 08/06/2035 | 6600 | 581 | 575 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.656 | 08/20/2035 | 17900 | 1549 | 1479 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.656 | 08/20/2035 | 17900 | 1549 | 1450 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 4600 | 396 | 385 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 4600 | 396 | 368 |
| BPS Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.947 | 04/06/2026 | 19500 | 29 | 27 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.123 | 06/04/2026 | 9200 | 53 | 46 |
| BRC Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.224 | 05/18/2026 | 10400 | 43 | 13 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.900 | 05/29/2026 | 3100 | 22 | 16 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.055 | 04/07/2026 | 7600 | 19 | 4 |
| DUB Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.135 | 09/14/2026 | 10400 | 134 | 42 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.635 | 09/14/2026 | 10400 | 134 | 196 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.308 | 05/02/2035 | 7200 | 640 | 519 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.308 | 05/02/2035 | 7200 | 640 | 646 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.630 | 05/22/2035 | 3800 | 348 | 314 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.630 | 05/22/2035 | 3800 | 348 | 313 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.520 | 05/29/2035 | 3900 | 351 | 307 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.520 | 05/29/2035 | 3900 | 351 | 330 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.440 | 06/18/2035 | 5600 | 501 | 428 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.440 | 06/18/2035 | 5600 | 501 | 486 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.559 | 07/09/2035 | 13000 | 1154 | 1039 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.559 | 07/09/2035 | 6500 | 577 | 544 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.460 | 08/06/2035 | 9600 | 844 | 738 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.460 | 08/06/2035 | 9600 | 844 | 827 |
| FAR Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 5.000 | 04/03/2026 | 27400 | 90 | 0 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.073 | 03/07/2035 | 4200 | 365 | 272 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.073 | 03/07/2035 | 4200 | 365 | 402 |
| GLM Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.075 | 04/06/2026 | 400 | 1 | 0 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.310 | 04/24/2035 | 3900 | 345 | 281 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.310 | 04/24/2035 | 3900 | 345 | 349 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.430 | 05/16/2035 | 3800 | 340 | 289 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.430 | 05/16/2035 | 3800 | 340 | 330 |
| JPM Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.219 | 06/04/2026 | 7000 | 34 | 24 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.285 | 05/07/2035 | 3900 | 351 | 280 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.285 | 05/07/2035 | 3900 | 351 | 354 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 5600 | 482 | 469 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 5600 | 482 | 449 |
| MYC Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.150 | 06/08/2026 | 17000 | 87 | 26 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.313 | 06/08/2026 | 17000 | 349 | 45 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.313 | 06/08/2026 | 17000 | 349 | 23 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 12/07/2026 | 16400 | 44 | 77 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.485 | 08/07/2035 | 6000 | 529 | 466 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.485 | 08/07/2035 | 6000 | 529 | 514 |
| NGF Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.242 | 10/29/2027 | 119300 | 179 | 263 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.400 | 06/25/2035 | 16200 | 1447 | 1218 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.400 | 06/25/2035 | 8100 | 732 | 714 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.520 | 08/13/2035 | 12800 | 1126 | 1008 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.520 | 08/13/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | 1126 | 1084 |
|  |  |  |  |  |  | $29002 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25983 |

---

78 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 05/01/2056 | $96.590 | 05/06/2026 | 26000 | $33 | $218 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | 99.098 | 05/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39000 | 12 | 34 |
| JPM | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.469 | 06/04/2026 | 9000 | 39 | 58 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.469 | 06/04/2026 | 9000 | 37 | 19 |
| SAL | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.094 | 05/06/2026 | 6500 | 2 | 6 |
|  |  |  |  |  | $123 | $335 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29125 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26318 |

---

#### WRITTEN OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.780% | 07/14/2026 | 32000 | $(243) | $(351) |
| BPS Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.967 | 05/06/2026 | 13000 | (18) | (77) |
| BRC Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.724 | 05/18/2026 | 14200 | (43) | (123) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.088 | 05/06/2026 | 3100 | (4) | (10) |
| DUB Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.084 | 05/06/2026 | 9800 | (10) | (32) |
| MYC Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.450 | 06/05/2026 | 8800 | (44) | (22) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(362) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(615) |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102.258 | 05/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | $(32) | $(6) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 05/06/2026 | 12500 | (23) | (3) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 05/06/2026 | 12500 | (24) | (68) |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.094 | 04/06/2026 | 8500 | (35) | (20) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.273 | 04/06/2026 | 4000 | (11) | (13) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.641 | 04/06/2026 | 9000 | (16) | (15) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 94.375 | 06/04/2026 | 16500 | (108) | (63) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.207 | 06/04/2026 | 33000 | (155) | (188) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 97.375 | 06/04/2026 | 16500 | (95) | (80) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.207 | 06/04/2026 | 33000 | (135) | (87) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 99.891 | 04/06/2026 | 4500 | (7) | 0 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.031 | 06/04/2026 | 4500 | (7) | (6) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.375 | 06/04/2026 | 16500 | (48) | (31) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 102.172 | 06/04/2026 | 18500 | (34) | (100) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 04/01/2056 | 103.531 | 04/06/2026 | 88000 | (117) | (89) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 05/01/2056 | 103.688 | 05/06/2026 | 21000 | (21) | (1) |
| MSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.234 | 04/06/2026 | 4000 | (11) | (13) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.625 | 04/06/2026 | 9000 | (16) | (15) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 97.281 | 06/04/2026 | 16500 | (46) | (57) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.000 | 06/04/2026 | 9000 | (15) | (11) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.281 | 06/04/2026 | 16500 | (36) | (15) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.234 | 04/06/2026 | 23000 | (39) | (74) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102.328 | 04/06/2026 | 22000 | (40) | (91) |
| SAL | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.313 | 04/06/2026 | 4000 | (11) | (12) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.813 | 04/06/2026 | 8500 | (21) | (10) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 96.859 | 04/06/2026 | 10000 | (28) | 0 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 96.102 | 06/04/2026 | 7000 | (34) | (12) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 04/01/2056 | 101.113 | 04/06/2026 | 39000 | (122) | (266) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.234 | 04/06/2026 | 68500 | (115) | (221) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.977 | 06/04/2026 | 14000 | (27) | (58) |
|  |  |  |  |  | $(1429) | $(1625) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1791) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2240) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 79

------

Schedule of Investments PIMCO GNMA and Government Securities Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(2)</sup> |
|  BOA | $0 | $10211 | $0 | $10211 | $0 | $(428) | $0 | $(428) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9783 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10608 |
|  BPS | 0 | 73 | 0 | 73 | 0 | (77) | 0 | (77) | (4) | 0 | (4) |
|  BRC | 0 | 33 | 0 | 33 | 0 | (133) | 0 | (133) | (100) | 0 | (100) |
|  DUB | 0 | 6729 | 0 | 6729 | 0 | (32) | 0 | (32) | 6697 | 5 | 6702 |
|  FAR | 0 | 674 | 0 | 674 | 0 | 0 | 0 | 0 | 674 | 0 | 674 |
|  GLM | 0 | 1249 | 0 | 1249 | 0 | 0 | 0 | 0 | 1249 | 282 | 1531 |
|  GSC | 0 | 252 | 0 | 252 | 0 | (693) | 0 | (693) | (441) | 313 | (128) |
|  JPM | 0 | 1653 | 0 | 1653 | 0 | 0 | 0 | 0 | 1653 | 0 | 1653 |
|  MSC | 0 | 0 | 0 | 0 | 0 | (276) | 0 | (276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276) | 373 | 97 |
|  MYC | 0 | 1151 | 0 | 1151 | 0 | (22) | 0 | (22) | 1129 | (70) | 1059 |
|  NGF | 0 | 4287 | 0 | 4287 | 0 | 0 | 0 | 0 | 4287 | 37 | 4324 |
|  SAL | 0 | 6 | 0 | 6 | 0 | (579) | 0 | (579) | (573) | 824 | 251 |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26318 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26318 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2240) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2240) |  |  |  |

---

(j) Securities with an aggregate market value of $2,658 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $427 | $427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 294 | 294 |
|  | $0 | $0 | $0 | $0 | $721 | $721 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $0 | $0 | $0 | $0 | $26318 | $26318 |
|  | $0 | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27039 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27039 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $9 | $9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 653 | 653 |
|  | $0 | $0 | $0 | $0 | $662 | $662 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $2240 | $2240 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902 |

---

80 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $5792 | $5792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 4230 | 4230 |
|  | $0 | $0 | $0 | $0 | $10022 | $10022 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $0 | $0 | $0 | $0 | $(4512) | $(4512) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 13 | 0 | 0 | 3819 | 3832 |
|  | $0 | $13 | $0 | $0 | $(693) | $(680) |
|  | $0 | $13 | $0 | $0 | $9329 | $9342 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $(6691) | $(6691) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 1441 | 1441 |
|  | $0 | $0 | $0 | $0 | $(5250) | $(5250) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $0 | $0 | $0 | $0 | $(590) | $(590) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 0 | (1125) | (1125) |
|  | $0 | $0 | $0 | $0 | $(1715) | $(1715) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6965) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6965) |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at**<br> **03/31/2026** |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  U.S. Government Agencies | $0 | $3432088 | $0 | $3432088 |
|  Non-Agency Mortgage-Backed Securities | 0 | 23054 | 5659 | 28713 |
|  Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp; Automobile ABS Other | 0 | 201 | 0 | 201 |
| &nbsp;&nbsp; CMBS Other | 0 | 1602 | 0 | 1602 |
| &nbsp;&nbsp; Home Equity Other | 0 | 286 | 0 | 286 |
| &nbsp;&nbsp; Other ABS | 0 | 14032 | 0 | 14032 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Mutual Funds | 474 | 0 | 0 | 474 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 4 | 0 | 4 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 14379 | 0 | 14379 |
|  | $474 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485646 | $5659 | $3491779 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $351 | $0 | $0 | $351 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485646 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492130 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at**<br> **03/31/2026** |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183813) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1183813) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 0 | 721 | 0 | 721 |
|  Over the counter | 0 | 26318 | 0 | 26318 |
|  | $0 | $27039 | $0 | $27039 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | 0 | (662) | 0 | (662) |
|  Over the counter | 0 | (2240) | 0 | (2240) |
|  | $0 | $(2902) | $0 | $(2902) |
|  Total Financial Derivative Instruments | $0 | $24137 | $0 | $24137 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325970 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332454 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **81** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 116.1% | INVESTMENTS IN SECURITIES 116.1% | INVESTMENTS IN SECURITIES 116.1% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 1.0% | LOAN PARTICIPATIONS AND ASSIGNMENTS 1.0% | LOAN PARTICIPATIONS AND ASSIGNMENTS 1.0% |
|  Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC |
|  5.860% due 10/21/2026 «~(m) | 2912 | 2912 |
|  Altice France SA | Altice France SA | Altice France SA |
|  8.891% (EUR003M + 6.875%) due 05/30/2031 ~ | 714 | 829 |
|  BCP V Modular Services Holdings IV Ltd. | BCP V Modular Services Holdings IV Ltd. | BCP V Modular Services Holdings IV Ltd. |
|  6.552% (EUR003M + 4.425%) due 07/10/2031 ~ | 1000 | 1051 |
|  Castlelake LP | Castlelake LP | Castlelake LP |
|  2.950% due 05/12/2031 «~ | 17462 | 16363 |
|  Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC |
|  5.911% (TSFR3M + 2.250%) due 12/15/2031 ~ | 990 | 991 |
|  Databricks, Inc. | Databricks, Inc. | Databricks, Inc. |
|  1.000% due 01/05/2032 ~µ | 1217 | 1211 |
|  8.171% (TSFR1M + 4.500%) due 01/05/2032 ~ | 5500 | 5472 |
|  Dorchester LLC | Dorchester LLC | Dorchester LLC |
|  4.610% (EUR003M + 2.300%) due 01/04/2027 «~(m) | 5300 | 6126 |
|  Ecopetrol SA | Ecopetrol SA | Ecopetrol SA |
|  TBD% due 12/18/2027 « | 10000 | 9900 |
|  Encina Private Credit LLC | Encina Private Credit LLC | Encina Private Credit LLC |
|  TBD% due 11/30/2026 «~ | 425 | 351 |
|  Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. |
|  5.675% (TSFR1M + 2.000%) due 10/21/2032 ~ | 4190 | 4196 |
|  Nscale AS | Nscale AS | Nscale AS |
|  TBD% - 8.700% (TSFR3M + 5.000%) due 08/11/2032 «~µ | 20000 | 20000 |
|  Panama Government International Bonds | Panama Government International Bonds | Panama Government International Bonds |
|  3.886% (EUR006M + 1.750%) due 03/05/2027 «~ | 19100 | 22100 |
|  Project Flash | Project Flash | Project Flash |
|  0.563% - 5.933% (TSFR3M + 2.250%) due 04/30/2030 «~µ | 16481 | 16481 |
|  0.563% - 5.933% (TSFR1M + 2.250%) due 04/30/2030 «~µ | 8235 | 8235 |
|  Project Hudson II | Project Hudson II | Project Hudson II |
|  7.730% due 05/29/2026 «~ | 6000 | 6021 |
|  Virgin Media Investment Holdings Ltd. | Virgin Media Investment Holdings Ltd. | Virgin Media Investment Holdings Ltd. |
|  6.978% due 08/01/2030 «~ | 1000 | 1271 |
|  Westmoreland Coal Co. | Westmoreland Coal Co. | Westmoreland Coal Co. |
|  8.000% due 03/15/2029 «~ | 1348 | 587 |
|  Total Loan Participations and Assignments (Cost $124,693) | Total Loan Participations and Assignments (Cost $124,693) | 124097 |
| CORPORATE BONDS & NOTES 68.5% | CORPORATE BONDS & NOTES 68.5% | CORPORATE BONDS & NOTES 68.5% |
| BANKING & FINANCE 32.1% | BANKING & FINANCE 32.1% | BANKING & FINANCE 32.1% |
|  123 Lights Re Ltd. | 123 Lights Re Ltd. | 123 Lights Re Ltd. |
|  14.510% (FHMMUSTF + 11.000%) due 09/14/2031 ~ | 300 | 310 |
|  ABN AMRO Bank NV | ABN AMRO Bank NV | ABN AMRO Bank NV |
|  6.875% due 09/22/2031 •(j)(k) | 3600 | 4401 |
|  AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
|  2.450% due 10/29/2026 | 32616 | 32262 |
|  3.650% due 07/21/2027 | 2770 | 2741 |
|  4.125% due 02/28/2029 | 10000 | 9869 |
|  6.450% due 04/15/2027 | 4295 | 4377 |
|  AIA Group Ltd. | AIA Group Ltd. | AIA Group Ltd. |
|  3.200% due 09/16/2040 | 800 | 615 |
|  Air Lease Corp. | Air Lease Corp. | Air Lease Corp. |
|  3.750% due 06/01/2026 | 5900 | 5891 |
|  Aircastle Ltd. | Aircastle Ltd. | Aircastle Ltd. |
|  2.850% due 01/26/2028 | 4500 | 4362 |
|  4.250% due 06/15/2026 | 3100 | 3096 |
|  5.950% due 02/15/2029 | 1400 | 1439 |
|  6.500% due 07/18/2028 | 15709 | 16295 |
|  Alamo Re Ltd. | Alamo Re Ltd. | Alamo Re Ltd. |
|  11.944% (FHMMUSTF + 8.434%) due 06/07/2027 ~ | 2400 | 2488 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  15.390% (FHMMUSTF + 11.880%) due 06/08/2026 ~ | $— | 2400 | $— | 2447 |
|  Alfa Bank AO Via Alfa Bond Issuance PLC | Alfa Bank AO Via Alfa Bond Issuance PLC | Alfa Bank AO Via Alfa Bond Issuance PLC | Alfa Bank AO Via Alfa Bond Issuance PLC | Alfa Bank AO Via Alfa Bond Issuance PLC |
|  5.950% due 04/15/2030 ^«(d)(k) |  | 3100 |  | 186 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  4.750% due 06/09/2027 |  | 1000 |  | 1002 |
|  6.992% due 06/13/2029 •  |  | 10100 |  | 10523 |
|  8.000% due 11/01/2031 |  | 4800 |  | 5331 |
|  American Assets Trust LP | American Assets Trust LP | American Assets Trust LP | American Assets Trust LP | American Assets Trust LP |
|  3.375% due 02/01/2031 |  | 17000 |  | 15332 |
|  American Express Co. | American Express Co. | American Express Co. | American Express Co. | American Express Co. |
|  4.009% due 02/09/2029 •  |  | 28900 |  | 28722 |
|  5.284% due 07/26/2035 •  |  | 6819 |  | 6885 |
|  5.442% due 01/30/2036 •  |  | 6800 |  | 6925 |
|  American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP |
|  2.375% due 07/15/2031 |  | 2000 |  | 1764 |
|  3.375% due 07/15/2051 |  | 500 |  | 328 |
|  3.625% due 04/15/2032 |  | 1600 |  | 1478 |
|  4.250% due 02/15/2028 |  | 3667 |  | 3649 |
|  5.500% due 02/01/2034 |  | 6300 |  | 6361 |
|  American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. |
|  4.386% (SOFRRATE + 0.720%) due 10/22/2027 ~ |  | 500 |  | 498 |
|  4.900% due 03/12/2027 |  | 1000 |  | 1004 |
|  5.250% due 07/07/2026 |  | 1000 |  | 1002 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  1.875% due 10/15/2030 |  | 8700 |  | 7682 |
|  2.750% due 01/15/2027 |  | 18100 |  | 17874 |
|  2.950% due 01/15/2051 |  | 16401 |  | 10132 |
|  3.650% due 03/15/2027 |  | 1900 |  | 1887 |
|  3.800% due 08/15/2029 |  | 11030 |  | 10768 |
|  3.950% due 03/15/2029 |  | 5470 |  | 5385 |
|  5.800% due 11/15/2028 |  | 7893 |  | 8141 |
|  5.900% due 11/15/2033 |  | 14538 |  | 15232 |
|  Antares Holdings LP | Antares Holdings LP | Antares Holdings LP | Antares Holdings LP | Antares Holdings LP |
|  2.750% due 01/15/2027 |  | 7000 |  | 6855 |
|  3.750% due 07/15/2027 |  | 6250 |  | 6076 |
|  3.950% due 07/15/2026 |  | 13950 |  | 13903 |
|  6.350% due 10/23/2029 |  | 3500 |  | 3466 |
|  6.500% due 02/08/2029 |  | 1000 |  | 1002 |
|  7.950% due 08/11/2028 |  | 5400 |  | 5601 |
|  Aon North America, Inc. | Aon North America, Inc. | Aon North America, Inc. | Aon North America, Inc. | Aon North America, Inc. |
|  5.125% due 03/01/2027 |  | 7200 |  | 7239 |
|  Apollo Debt Solutions BDC | Apollo Debt Solutions BDC | Apollo Debt Solutions BDC | Apollo Debt Solutions BDC | Apollo Debt Solutions BDC |
|  6.550% due 03/15/2032 |  | 5100 |  | 5123 |
|  6.700% due 07/29/2031 |  | 9400 |  | 9515 |
|  ARES Capital Corp. | ARES Capital Corp. | ARES Capital Corp. | ARES Capital Corp. | ARES Capital Corp. |
|  2.875% due 06/15/2027 |  | 8420 |  | 8200 |
|  ARES Finance Co. II LLC | ARES Finance Co. II LLC | ARES Finance Co. II LLC | ARES Finance Co. II LLC | ARES Finance Co. II LLC |
|  3.250% due 06/15/2030 |  | 13900 |  | 13033 |
|  ARES Management Corp. | ARES Management Corp. | ARES Management Corp. | ARES Management Corp. | ARES Management Corp. |
|  6.375% due 11/10/2028 |  | 7500 |  | 7799 |
|  ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund |
|  4.850% due 01/15/2029 |  | 3623 |  | 3510 |
|  5.600% due 02/15/2030 |  | 4200 |  | 4089 |
|  6.200% due 03/21/2032 |  | 6300 |  | 6179 |
|  Armor RE II Ltd. | Armor RE II Ltd. | Armor RE II Ltd. | Armor RE II Ltd. | Armor RE II Ltd. |
|  13.760% (BRMMUSDF + 10.200%) due 05/07/2031 ~ |  | 2100 |  | 2211 |
|  Aspen Insurance Holdings Ltd. | Aspen Insurance Holdings Ltd. | Aspen Insurance Holdings Ltd. | Aspen Insurance Holdings Ltd. | Aspen Insurance Holdings Ltd. |
|  5.750% due 07/01/2030 |  | 2800 |  | 2890 |
|  Assured Guaranty U.S. Holdings, Inc. | Assured Guaranty U.S. Holdings, Inc. | Assured Guaranty U.S. Holdings, Inc. | Assured Guaranty U.S. Holdings, Inc. | Assured Guaranty U.S. Holdings, Inc. |
|  3.150% due 06/15/2031 |  | 833 |  | 772 |
|  6.125% due 09/15/2028 |  | 8000 |  | 8285 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  5.322% due 11/13/2031 |  | 2400 |  | 2374 |
|  5.516% due 03/25/2027 |  | 18200 |  | 18354 |
|  5.526% due 07/11/2031 |  | 4700 |  | 4705 |
|  5.583% due 01/09/2029 |  | 4000 |  | 4038 |
|  Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC |
|  3.500% due 11/01/2027 |  | 16454 |  | 16162 |
|  Aviva PLC | Aviva PLC | Aviva PLC | Aviva PLC | Aviva PLC |
|  7.750% due 09/30/2032 •(j)(k) |  | 2800 |  | 3769 |
|  Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
|  2.528% due 11/18/2027 | $— | 8284 |  | 8006 |
|  3.250% due 02/15/2027 |  | 10000 |  | 9890 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.700% due 01/30/2031 | $— | 10200 | $— | 10000 |
|  4.950% due 10/15/2032 |  | 6000 |  | 5846 |
|  AXIS Specialty Finance PLC | AXIS Specialty Finance PLC | AXIS Specialty Finance PLC | AXIS Specialty Finance PLC | AXIS Specialty Finance PLC |
|  4.000% due 12/06/2027 |  | 17000 |  | 16890 |
|  Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA |
|  6.875% due 12/13/2030 •(j)(k)(o) |  | 3000 |  | 3630 |
|  7.883% due 11/15/2034 •  | $— | 4000 |  | 4529 |
|  8.375% due 06/21/2028 •(j)(k) |  | 3400 |  | 4200 |
|  Banco General SA | Banco General SA | Banco General SA | Banco General SA | Banco General SA |
|  4.125% due 08/07/2027 | $— | 3900 |  | 3874 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  4.175% due 03/24/2028 •  |  | 400 |  | 398 |
|  5.552% due 03/14/2028 •  |  | 2350 |  | 2370 |
|  9.625% due 11/21/2028 •(j)(k) |  | 16000 |  | 17243 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  1.898% due 07/23/2031 •  |  | 19100 |  | 17016 |
|  2.299% due 07/21/2032 •  |  | 26300 |  | 23225 |
|  2.551% due 02/04/2028 •  |  | 45700 |  | 45010 |
|  2.687% due 04/22/2032 •  |  | 17500 |  | 15865 |
|  2.972% due 02/04/2033 •  |  | 27000 |  | 24448 |
|  3.593% due 07/21/2028 •  |  | 8000 |  | 7916 |
|  3.824% due 01/20/2028 •  |  | 1800 |  | 1791 |
|  3.970% due 03/05/2029 •  |  | 18700 |  | 18536 |
|  4.571% due 04/27/2033 •  |  | 16600 |  | 16317 |
|  5.015% due 07/22/2033 •  |  | 6500 |  | 6541 |
|  5.288% due 04/25/2034 •  |  | 12800 |  | 12960 |
|  5.511% due 01/24/2036 •  |  | 2500 |  | 2550 |
|  5.819% due 09/15/2029 •  |  | 7600 |  | 7841 |
|  8.050% due 06/15/2027 |  | 8000 |  | 8313 |
|  Bank of America NA | Bank of America NA | Bank of America NA | Bank of America NA | Bank of America NA |
|  5.526% due 08/18/2026 |  | 10000 |  | 10044 |
|  6.000% due 10/15/2036 |  | 4600 |  | 4855 |
|  Bank of Montreal | Bank of Montreal | Bank of Montreal | Bank of Montreal | Bank of Montreal |
|  4.689% due 06/28/2028 (o) |  | 5000 |  | 5071 |
|  Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. |
|  4.026% due 01/22/2030 •  |  | 13529 |  | 13396 |
|  Bank of Nova Scotia | Bank of Nova Scotia | Bank of Nova Scotia | Bank of Nova Scotia | Bank of Nova Scotia |
|  6.559% (TSFR3M + 2.910%) due 07/12/2026 ~(j)(k) |  | 368 |  | 363 |
|  8.000% due 01/27/2084 •(k) |  | 2600 |  | 2724 |
|  Barclays PLC | Barclays PLC | Barclays PLC | Barclays PLC | Barclays PLC |
|  4.521% due 02/24/2032 •  |  | 17300 |  | 16932 |
|  5.335% due 09/10/2035 •  |  | 6300 |  | 6245 |
|  5.674% due 03/12/2028 •  |  | 3600 |  | 3634 |
|  5.690% due 03/12/2030 •  |  | 2700 |  | 2775 |
|  5.851% due 03/21/2035 •  |  | 2000 |  | 2625 |
|  6.224% due 05/09/2034 •  | $— | 12200 |  | 12814 |
|  6.496% due 09/13/2027 •  |  | 9462 |  | 9539 |
|  6.692% due 09/13/2034 •  |  | 3700 |  | 4005 |
|  7.437% due 11/02/2033 •  |  | 4300 |  | 4810 |
|  8.375% due 09/15/2031 •(j)(k) |  | 5800 |  | 7854 |
|  9.250% due 09/15/2028 •(j)(k) |  | 3000 |  | 4184 |
|  9.625% due 12/15/2029 •(j)(k) | $— | 5500 |  | 6002 |
|  Bayou Re Ltd. | Bayou Re Ltd. | Bayou Re Ltd. | Bayou Re Ltd. | Bayou Re Ltd. |
|  11.872% (BNMMDTSC + 8.332%) due 04/30/2031 ~ |  | 900 |  | 935 |
|  22.040% (BNMMDTSC + 18.500%) due 04/30/2031 ~ |  | 1100 |  | 1183 |
|  BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico |
|  7.625% due 02/11/2035 •(k) |  | 4000 |  | 4140 |
|  8.125% due 01/08/2039 •(k) |  | 10000 |  | 10538 |
|  8.450% due 06/29/2038 •(k) |  | 14600 |  | 15709 |
|  BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. |
|  6.150% due 04/02/2030 |  | 8600 |  | 8752 |
|  8.000% due 05/25/2028 |  | 5000 |  | 5273 |
|  Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC |
|  1.500% due 04/10/2029 |  | 12000 |  | 12989 |
|  2.000% due 01/30/2032 | $— | 900 |  | 764 |
|  2.800% due 09/30/2050 |  | 5300 |  | 3148 |
|  4.450% due 07/15/2045 |  | 1300 |  | 1077 |
|  5.000% due 06/15/2044 |  | 3900 |  | 3505 |
|  Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund |
|  5.875% due 11/15/2027 |  | 12200 |  | 12245 |
|  Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC |
|  4.125% due 10/07/2051 |  | 5900 |  | 3910 |
|  4.375% due 02/15/2032 |  | 11700 |  | 10431 |

---

---

| | | |
|:---|:---|:---|
| **82** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.250% due 04/18/2034 | $— | 4200 | $— | 4040 |
|  Blue Ridge Re Ltd. | Blue Ridge Re Ltd. | Blue Ridge Re Ltd. | Blue Ridge Re Ltd. | Blue Ridge Re Ltd. |
|  7.010% (FHMMUSTF + 3.500%) due 01/08/2029 ~ |  | 250 |  | 252 |
|  9.510% (FHMMUSTF + 6.000%) due 01/08/2029 ~ |  | 250 |  | 247 |
|  11.510% (FHMMUSTF + 8.000%) due 01/08/2029 ~ |  | 250 |  | 246 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  4.400% due 08/14/2028 |  | 4800 |  | 4781 |
|  7.375% due 09/10/2034 •(j)(k) |  | 25900 |  | 25982 |
|  8.500% due 08/14/2028 •(j)(k) |  | 5500 |  | 5734 |
|  Boston Properties LP | Boston Properties LP | Boston Properties LP | Boston Properties LP | Boston Properties LP |
|  5.750% due 01/15/2035 |  | 1364 |  | 1357 |
|  BPCE SA | BPCE SA | BPCE SA | BPCE SA | BPCE SA |
|  5.716% due 01/18/2030 •  |  | 5250 |  | 5383 |
|  5.936% due 05/30/2035 •  |  | 7600 |  | 7777 |
|  6.612% due 10/19/2027 •  |  | 13000 |  | 13146 |
|  7.003% due 10/19/2034 •  |  | 6006 |  | 6567 |
|  Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC |
|  2.600% due 09/15/2031 |  | 2900 |  | 2549 |
|  5.000% due 11/01/2032 |  | 1000 |  | 984 |
|  Brookfield Capital Finance LLC | Brookfield Capital Finance LLC | Brookfield Capital Finance LLC | Brookfield Capital Finance LLC | Brookfield Capital Finance LLC |
|  6.087% due 06/14/2033 |  | 6300 |  | 6574 |
|  Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. |
|  3.500% due 03/30/2051 |  | 1400 |  | 936 |
|  3.900% due 01/25/2028 |  | 5600 |  | 5542 |
|  4.850% due 03/29/2029 |  | 4825 |  | 4849 |
|  5.330% due 01/15/2036 |  | 23000 |  | 22531 |
|  Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. |
|  4.700% due 06/23/2028 |  | 4780 |  | 4795 |
|  5.650% due 06/11/2034 |  | 4800 |  | 4849 |
|  Camden Property Trust | Camden Property Trust | Camden Property Trust | Camden Property Trust | Camden Property Trust |
|  3.150% due 07/01/2029 |  | 1600 |  | 1536 |
|  Canary Wharf Group Investment Holdings PLC | Canary Wharf Group Investment Holdings PLC | Canary Wharf Group Investment Holdings PLC | Canary Wharf Group Investment Holdings PLC | Canary Wharf Group Investment Holdings PLC |
|  1.750% due 04/07/2026 |  | 3800 |  | 4396 |
|  Cantor Fitzgerald LP | Cantor Fitzgerald LP | Cantor Fitzgerald LP | Cantor Fitzgerald LP | Cantor Fitzgerald LP |
|  4.500% due 04/14/2027 | $— | 300 |  | 299 |
|  7.200% due 12/12/2028 |  | 16300 |  | 16941 |
|  Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. |
|  8.760% (FHMMUSTF + 5.250%) due 03/21/2033 ~ |  | 400 |  | 400 |
|  9.510% (FHMMUSTF + 6.000%) due 03/21/2033 ~ |  | 400 |  | 400 |
|  10.410% (FHMMUSTF + 6.900%) due 03/13/2032 ~ |  | 1200 |  | 1253 |
|  12.239% (GSMMUSTF + 8.702%) due 04/05/2027 ~ |  | 12000 |  | 12188 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  4.722% due 01/30/2032 •  |  | 10000 |  | 9851 |
|  6.312% due 06/08/2029 •  |  | 4700 |  | 4863 |
|  Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC |
|  3.500% due 09/19/2029 |  | 3000 |  | 2892 |
|  CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. |
|  5.950% due 08/15/2034 |  | 7600 |  | 7915 |
|  Charles River Re Ltd. | Charles River Re Ltd. | Charles River Re Ltd. | Charles River Re Ltd. | Charles River Re Ltd. |
|  11.172% (BNMMDTSC + 7.632%) due 05/10/2031 ~ |  | 300 |  | 309 |
|  CI Financial Corp. | CI Financial Corp. | CI Financial Corp. | CI Financial Corp. | CI Financial Corp. |
|  3.200% due 12/17/2030 |  | 4300 |  | 3829 |
|  4.625% due 12/12/2031 |  | 8300 |  | 9609 |
|  7.500% due 05/30/2029 | $— | 1700 |  | 1785 |
|  Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC |
|  4.750% due 02/14/2029 |  | 10500 |  | 10296 |
|  5.900% due 02/10/2030 |  | 13400 |  | 13471 |
|  Citadel LP | Citadel LP | Citadel LP | Citadel LP | Citadel LP |
|  6.000% due 01/23/2030 |  | 2100 |  | 2164 |
|  Citibank NA | Citibank NA | Citibank NA | Citibank NA | Citibank NA |
|  5.488% due 12/04/2026 |  | 9000 |  | 9072 |
|  5.570% due 04/30/2034 |  | 1000 |  | 1037 |
|  Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
|  3.200% due 10/21/2026 |  | 15990 |  | 15904 |
|  3.668% due 07/24/2028 •  |  | 2200 |  | 2177 |
|  3.785% due 03/17/2033 •  |  | 2038 |  | 1912 |
|  3.887% due 01/10/2028 •  |  | 6000 |  | 5972 |
|  4.075% due 04/23/2029 •  |  | 1260 |  | 1251 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.174% due 02/13/2030 •  | $— | 5600 | 5687 |
|  5.449% due 06/11/2035 •  |  | 11913 | 12083 |
|  Citizens Bank NA | Citizens Bank NA | Citizens Bank NA | Citizens Bank NA |
|  4.192% due 01/29/2029 •  |  | 1000 | 994 |
|  Citrus Re Ltd. | Citrus Re Ltd. | Citrus Re Ltd. | Citrus Re Ltd. |
|  8.922% (T-BILL 3MO + 5.250%) due 06/07/2033 ~ |  | 250 | 250 |
|  9.910% (T-BILL 3MO + 6.250%) due 06/07/2033 ~ |  | 250 | 250 |
|  CNA Financial Corp. | CNA Financial Corp. | CNA Financial Corp. | CNA Financial Corp. |
|  5.500% due 06/15/2033 |  | 5000 | 5080 |
|  Constellation Global Funding | Constellation Global Funding | Constellation Global Funding | Constellation Global Funding |
|  4.850% due 10/22/2030 |  | 3200 | 3140 |
|  Consumers Securitization Funding LLC | Consumers Securitization Funding LLC | Consumers Securitization Funding LLC | Consumers Securitization Funding LLC |
|  5.210% due 09/01/2031 |  | 200 | 204 |
|  5.550% due 03/01/2028 |  | 102 | 102 |
|  Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |
|  3.750% due 07/21/2026 |  | 510 | 509 |
|  4.375% due 06/29/2027 •(j)(k) |  | 6000 | 6967 |
|  4.655% due 08/22/2028 •  | $— | 600 | 601 |
|  Corebridge Financial, Inc. | Corebridge Financial, Inc. | Corebridge Financial, Inc. | Corebridge Financial, Inc. |
|  3.650% due 04/05/2027 |  | 6200 | 6145 |
|  3.850% due 04/05/2029 |  | 4300 | 4200 |
|  6.875% due 12/15/2052 •  |  | 500 | 504 |
|  Corebridge Global Funding | Corebridge Global Funding | Corebridge Global Funding | Corebridge Global Funding |
|  4.900% due 01/07/2028 |  | 2305 | 2321 |
|  Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) | Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) | Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) | Corestate Capital Holding SA (8.000% Cash or 9.000% PIK) |
|  8.000% due 12/31/2028 (c) |  | 229 | 138 |
|  CoStar Group, Inc. | CoStar Group, Inc. | CoStar Group, Inc. | CoStar Group, Inc. |
|  2.800% due 07/15/2030 | $— | 12400 | 11218 |
|  Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA |
|  10.100% due 12/15/2043 |  | 6000 | 1871 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  4.656% due 01/12/2032 •  | $— | 7200 | 7104 |
|  5.261% due 01/12/2037 •  |  | 4200 | 4111 |
|  7.250% due 09/23/2028 •(j)(k) |  | 12100 | 14674 |
|  Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC | Credit Opportunities Partners LLC |
|  6.520% due 03/20/2028 «(m) | $— | 3200 | 3174 |
|  6.740% due 03/20/2030 «(m) |  | 3800 | 3742 |
|  Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
|  3.650% due 09/01/2027 |  | 2443 | 2415 |
|  3.700% due 06/15/2026 |  | 4230 | 4224 |
|  3.800% due 02/15/2028 |  | 14727 | 14521 |
|  4.000% due 03/01/2027 |  | 3100 | 3087 |
|  CubeSmart LP | CubeSmart LP | CubeSmart LP | CubeSmart LP |
|  2.250% due 12/15/2028 |  | 2700 | 2549 |
|  4.375% due 02/15/2029 |  | 3625 | 3603 |
|  Danske Bank AS | Danske Bank AS | Danske Bank AS | Danske Bank AS |
|  4.999% due 03/27/2032 •  |  | 8400 | 8425 |
|  5.427% due 03/01/2028 •  |  | 3000 | 3029 |
|  Depository Trust Co. | Depository Trust Co. | Depository Trust Co. | Depository Trust Co. |
|  4.300% due 03/27/2029 |  | 6900 | 6907 |
|  4.550% due 03/27/2031 |  | 4000 | 4010 |
|  Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG |
|  2.552% due 01/07/2028 •  |  | 1300 | 1280 |
|  3.547% due 09/18/2031 •  |  | 800 | 752 |
|  4.999% due 09/11/2030 •  |  | 300 | 301 |
|  5.373% due 01/10/2029 •  |  | 965 | 976 |
|  Digital Dutch Finco BV | Digital Dutch Finco BV | Digital Dutch Finco BV | Digital Dutch Finco BV |
|  1.500% due 03/15/2030 |  | 11100 | 11757 |
|  Digital Stout Holding LLC | Digital Stout Holding LLC | Digital Stout Holding LLC | Digital Stout Holding LLC |
|  3.750% due 10/17/2030 |  | 1100 | 1354 |
|  DOC Dr. LLC | DOC Dr. LLC | DOC Dr. LLC | DOC Dr. LLC |
|  3.950% due 01/15/2028 | $— | 5400 | 5344 |
|  Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange |
|  4.500% due 01/18/2032 |  | 7900 | 7200 |
|  East Lane Re VII Ltd. | East Lane Re VII Ltd. | East Lane Re VII Ltd. | East Lane Re VII Ltd. |
|  12.160% (BRMMUSDF + 8.500%) due 03/31/2032 ~ |  | 500 | 501 |
|  Encore Capital Group, Inc. | Encore Capital Group, Inc. | Encore Capital Group, Inc. | Encore Capital Group, Inc. |
|  8.500% due 05/15/2030 |  | 3700 | 3914 |
|  EPR Properties | EPR Properties | EPR Properties | EPR Properties |
|  3.600% due 11/15/2031 |  | 4600 | 4178 |
|  4.500% due 06/01/2027 |  | 9400 | 9363 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.750% due 12/15/2026 | $— | 8000 | $— | 7997 |
|  4.750% due 11/15/2030 |  | 1500 |  | 1465 |
|  4.950% due 04/15/2028 |  | 2600 |  | 2597 |
|  Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. |
|  4.400% due 03/15/2031 |  | 5000 |  | 4897 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.000% due 05/19/2034 |  | 7100 |  | 8033 |
|  Equinix, Inc. | Equinix, Inc. | Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
|  2.150% due 07/15/2030 | $— | 4000 |  | 3596 |
|  Equitable Financial Life Global Funding | Equitable Financial Life Global Funding | Equitable Financial Life Global Funding | Equitable Financial Life Global Funding | Equitable Financial Life Global Funding |
|  4.875% due 11/19/2027 |  | 2000 |  | 2013 |
|  Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. |
|  6.700% due 03/28/2055 •  |  | 7600 |  | 7693 |
|  Erste Group Bank AG | Erste Group Bank AG | Erste Group Bank AG | Erste Group Bank AG | Erste Group Bank AG |
|  4.250% due 10/15/2027 •(j)(k) |  | 200 |  | 228 |
|  8.500% due 10/15/2028 •(j)(k) |  | 5800 |  | 7245 |
|  Essex Portfolio LP | Essex Portfolio LP | Essex Portfolio LP | Essex Portfolio LP | Essex Portfolio LP |
|  2.550% due 06/15/2031 | $— | 2381 |  | 2138 |
|  2.650% due 03/15/2032 |  | 2282 |  | 2010 |
|  5.500% due 04/01/2034 |  | 4032 |  | 4090 |
|  Everglades Re II Ltd. | Everglades Re II Ltd. | Everglades Re II Ltd. | Everglades Re II Ltd. | Everglades Re II Ltd. |
|  14.041% (GSMMUSTI + 10.500%) due 05/13/2027 ~ |  | 300 |  | 304 |
|  15.041% (GSMMUSTI + 11.500%) due 05/13/2031 ~ |  | 300 |  | 305 |
|  16.291% (GSMMUSTI + 12.750%) due 05/13/2027 ~ |  | 300 |  | 305 |
|  Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP |
|  3.875% due 12/15/2027 |  | 3987 |  | 3951 |
|  4.950% due 01/15/2033 |  | 6400 |  | 6329 |
|  F&G Global Funding | F&G Global Funding | F&G Global Funding | F&G Global Funding | F&G Global Funding |
|  4.975% (SOFRRATE + 1.325%) due 09/08/2028 ~ |  | 11300 |  | 11334 |
|  5.875% due 06/10/2027 |  | 4000 |  | 4048 |
|  5.875% due 01/16/2030 |  | 5600 |  | 5677 |
|  Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. |
|  2.750% due 03/29/2028 |  | 16400 |  | 18590 |
|  4.625% due 04/29/2030 | $— | 7700 |  | 7672 |
|  6.000% due 12/07/2033 |  | 6300 |  | 6585 |
|  Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. |
|  7.580% (BRMMUSDF + 4.020%) due 01/08/2027 ~ |  | 4000 |  | 4058 |
|  Flourish Century Holdings Ltd. | Flourish Century Holdings Ltd. | Flourish Century Holdings Ltd. | Flourish Century Holdings Ltd. | Flourish Century Holdings Ltd. |
|  6.600% due 02/04/2049 ^«(d)(m) |  | 4500 |  | 0 |
|  FMR LLC | FMR LLC | FMR LLC | FMR LLC | FMR LLC |
|  6.500% due 12/14/2040 |  | 1000 |  | 1086 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  2.700% due 08/10/2026 |  | 2700 |  | 2680 |
|  2.900% due 02/16/2028 |  | 1394 |  | 1337 |
|  3.815% due 11/02/2027 |  | 1947 |  | 1909 |
|  4.125% due 08/17/2027 |  | 4372 |  | 4317 |
|  4.950% due 05/28/2027 |  | 10360 |  | 10360 |
|  4.970% due 04/06/2029 |  | 30000 |  | 29640 |
|  5.113% due 05/03/2029 |  | 200 |  | 198 |
|  5.125% due 11/05/2026 |  | 3500 |  | 3508 |
|  5.420% due 04/09/2031 |  | 10000 |  | 9824 |
|  5.800% due 03/05/2027 |  | 7800 |  | 7845 |
|  5.800% due 03/08/2029 |  | 11214 |  | 11343 |
|  5.850% due 05/17/2027 |  | 9620 |  | 9693 |
|  5.918% due 03/20/2028 |  | 7682 |  | 7782 |
|  6.054% due 11/05/2031 |  | 2401 |  | 2413 |
|  6.798% due 11/07/2028 |  | 522 |  | 540 |
|  6.950% due 06/10/2026 |  | 3985 |  | 3995 |
|  7.350% due 11/04/2027 |  | 13513 |  | 13951 |
|  7.350% due 03/06/2030 |  | 2800 |  | 2955 |
|  Fortitude Group Holdings LLC | Fortitude Group Holdings LLC | Fortitude Group Holdings LLC | Fortitude Group Holdings LLC | Fortitude Group Holdings LLC |
|  6.250% due 04/01/2030 |  | 5400 |  | 5502 |
|  Franklin Resources, Inc. | Franklin Resources, Inc. | Franklin Resources, Inc. | Franklin Resources, Inc. | Franklin Resources, Inc. |
|  2.950% due 08/12/2051 |  | 3700 |  | 2294 |
|  FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. |
|  6.125% due 01/15/2030 |  | 8200 |  | 7811 |
|  6.875% due 08/15/2029 |  | 9600 |  | 9440 |
|  7.875% due 01/15/2029 |  | 6400 |  | 6475 |
|  GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust |
|  4.500% due 09/18/2030 |  | 16712 |  | 16102 |
|  5.200% due 12/09/2031 |  | 3000 |  | 2941 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **83** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.500% due 01/08/2029 | $— | 5000 | $— | 5063 |
|  5.900% due 01/13/2035 |  | 6800 |  | 6752 |
|  Gateway Re Ltd. | Gateway Re Ltd. | Gateway Re Ltd. | Gateway Re Ltd. | Gateway Re Ltd. |
|  5.560% (BRMMUSDF + 2.000%) due 07/06/2029 ~ |  | 750 |  | 750 |
|  General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. |
|  2.350% due 02/26/2027 |  | 2144 |  | 2103 |
|  Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. |
|  4.400% due 10/15/2029 |  | 15170 |  | 14681 |
|  GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. |
|  3.250% due 01/15/2032 |  | 12000 |  | 10709 |
|  4.000% due 01/15/2030 |  | 3200 |  | 3073 |
|  4.000% due 01/15/2031 |  | 3300 |  | 3131 |
|  5.250% due 02/15/2033 |  | 1200 |  | 1177 |
|  5.300% due 01/15/2029 |  | 17292 |  | 17494 |
|  5.625% due 09/15/2034 |  | 10000 |  | 9853 |
|  5.750% due 06/01/2028 |  | 6300 |  | 6400 |
|  5.750% due 11/01/2037 |  | 9300 |  | 9010 |
|  6.250% due 09/15/2054 |  | 1300 |  | 1263 |
|  6.750% due 12/01/2033 |  | 4740 |  | 4997 |
|  Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. |
|  13.162% (T-BILL 1MO + 9.500%) due 03/08/2032 ~ |  | 600 |  | 600 |
|  13.412% (JMMMUSTF + 9.750%) due 01/08/2029 ~ |  | 1200 |  | 1222 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  2.383% due 07/21/2032 •  |  | 4200 |  | 3709 |
|  2.615% due 04/22/2032 •  |  | 7000 |  | 6290 |
|  3.615% due 03/15/2028 •  |  | 1000 |  | 992 |
|  3.691% due 06/05/2028 •  |  | 26100 |  | 25874 |
|  4.223% due 05/01/2029 •  |  | 27247 |  | 27097 |
|  5.016% due 10/23/2035 •  |  | 17300 |  | 16986 |
|  5.049% due 07/23/2030 •  |  | 17900 |  | 18119 |
|  5.536% due 01/28/2036 •  |  | 4500 |  | 4576 |
|  5.734% due 01/28/2056 •  |  | 5000 |  | 4885 |
|  6.484% due 10/24/2029 •  |  | 17000 |  | 17787 |
|  Goldman Sachs Private Credit Corp. | Goldman Sachs Private Credit Corp. | Goldman Sachs Private Credit Corp. | Goldman Sachs Private Credit Corp. | Goldman Sachs Private Credit Corp. |
|  5.050% due 02/23/2028 |  | 13500 |  | 13300 |
|  Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC |
|  4.500% due 10/15/2037 |  | 4100 |  | 3768 |
|  Goodman U.S. Finance Six LLC | Goodman U.S. Finance Six LLC | Goodman U.S. Finance Six LLC | Goodman U.S. Finance Six LLC | Goodman U.S. Finance Six LLC |
|  5.125% due 10/07/2034 |  | 1400 |  | 1395 |
|  Goodman U.S. Finance Three LLC | Goodman U.S. Finance Three LLC | Goodman U.S. Finance Three LLC | Goodman U.S. Finance Three LLC | Goodman U.S. Finance Three LLC |
|  3.700% due 03/15/2028 |  | 21100 |  | 20771 |
|  Greengrove RE Ltd. | Greengrove RE Ltd. | Greengrove RE Ltd. | Greengrove RE Ltd. | Greengrove RE Ltd. |
|  11.290% (BNMMDTSC + 7.750%) due 04/08/2032 ~ |  | 500 |  | 518 |
|  GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. |
|  4.700% due 06/15/2031 |  | 11400 |  | 13071 |
|  HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
|  6.150% due 01/15/2031 | $— | 18800 |  | 19157 |
|  6.375% due 07/01/2034 |  | 3100 |  | 3123 |
|  Handshake Re Ltd. | Handshake Re Ltd. | Handshake Re Ltd. | Handshake Re Ltd. | Handshake Re Ltd. |
|  8.060% (JMMMUSTF + 4.500%) due 01/08/2030 ~ |  | 250 |  | 249 |
|  Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. |
|  2.500% due 09/01/2030 |  | 4800 |  | 4358 |
|  Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC |
|  4.840% due 06/07/2028 «(m) |  | 3900 |  | 3905 |
|  4.980% due 06/07/2030 «(m) |  | 3900 |  | 3911 |
|  5.160% due 06/07/2032 «(m) |  | 3900 |  | 3925 |
|  HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC |
|  3.750% due 09/15/2030 |  | 400 |  | 368 |
|  Herbie Re Ltd. | Herbie Re Ltd. | Herbie Re Ltd. | Herbie Re Ltd. | Herbie Re Ltd. |
|  7.780% (MSMMUSTF + 4.250%) due 01/07/2030 ~ |  | 250 |  | 250 |
|  Highwoods Realty LP | Highwoods Realty LP | Highwoods Realty LP | Highwoods Realty LP | Highwoods Realty LP |
|  3.050% due 02/15/2030 |  | 5600 |  | 5168 |
|  4.125% due 03/15/2028 |  | 2200 |  | 2170 |
|  4.200% due 04/15/2029 |  | 3868 |  | 3762 |
|  Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP |
|  2.900% due 12/15/2031 |  | 1750 |  | 1557 |
|  3.375% due 12/15/2029 |  | 3150 |  | 2995 |
|  3.500% due 09/15/2030 |  | 4900 |  | 4608 |
|  5.500% due 04/15/2035 |  | 100 |  | 99 |
|  5.700% due 06/15/2032 |  | 1000 |  | 1024 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
|  5.950% due 04/14/2032 | $| 4000 | 3867 |
|  HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
|  4.041% due 03/13/2028 •  |  | 7500 | 7466 |
|  4.398% due 03/10/2030 •  |  | 20100 | 19955 |
|  5.130% due 03/03/2031 •  |  | 6500 | 6575 |
|  5.875% due 09/28/2026 •(j)(k) | GBP | 14400 | 19024 |
|  6.161% due 03/09/2029 •  | $| 1500 | 1544 |
|  Hudson Pacific Properties LP | Hudson Pacific Properties LP | Hudson Pacific Properties LP | Hudson Pacific Properties LP |
|  3.250% due 01/15/2030 |  | 10000 | 8093 |
|  Indian Railway Finance Corp. Ltd. | Indian Railway Finance Corp. Ltd. | Indian Railway Finance Corp. Ltd. | Indian Railway Finance Corp. Ltd. |
|  2.800% due 02/10/2031 |  | 3000 | 2744 |
|  ING Groep NV | ING Groep NV | ING Groep NV | ING Groep NV |
|  4.250% due 05/16/2031 •(j)(k) |  | 2900 | 2522 |
|  4.803% due 03/23/2032 •  |  | 10500 | 10440 |
|  5.750% due 11/16/2026 •(j)(k) |  | 1800 | 1799 |
|  Integrity RE III Ltd. | Integrity RE III Ltd. | Integrity RE III Ltd. | Integrity RE III Ltd. |
|  6.010% (FHMMUSTF + 2.500%) due 06/07/2029 ~ |  | 500 | 500 |
|  Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. |
|  1.850% due 09/15/2032 |  | 12800 | 10799 |
|  4.350% due 06/15/2029 |  | 3300 | 3295 |
|  Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |
|  4.950% due 06/01/2042 •  |  | 5900 | 4945 |
|  6.625% due 06/20/2033 |  | 7416 | 8047 |
|  7.200% due 11/28/2033 |  | 3469 | 3889 |
|  7.778% due 06/20/2054 •  |  | 6300 | 7190 |
|  8.248% due 11/21/2033 •  |  | 17000 | 19598 |
|  Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP |
|  2.000% due 08/15/2031 |  | 2000 | 1713 |
|  2.700% due 01/15/2034 |  | 15300 | 12783 |
|  4.150% due 04/15/2032 |  | 2000 | 1879 |
|  5.450% due 08/15/2030 |  | 5048 | 5129 |
|  5.500% due 08/15/2033 |  | 8750 | 8765 |
|  Itau Unibanco Holding SA | Itau Unibanco Holding SA | Itau Unibanco Holding SA | Itau Unibanco Holding SA |
|  6.000% due 02/27/2030 (o) |  | 23700 | 24333 |
|  JAB Holdings BV | JAB Holdings BV | JAB Holdings BV | JAB Holdings BV |
|  2.200% due 11/23/2030 |  | 7153 | 6389 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  2.069% due 06/01/2029 •  |  | 4400 | 4187 |
|  2.182% due 06/01/2028 •  |  | 11900 | 11602 |
|  2.545% due 11/08/2032 •  |  | 10000 | 8893 |
|  2.580% due 04/22/2032 •  |  | 9600 | 8679 |
|  2.739% due 10/15/2030 •  |  | 22000 | 20725 |
|  2.947% due 02/24/2028 •  |  | 1000 | 988 |
|  3.540% due 05/01/2028 •  |  | 10100 | 10008 |
|  3.702% due 05/06/2030 •  |  | 16000 | 15608 |
|  3.782% due 02/01/2028 •  |  | 7900 | 7862 |
|  4.005% due 04/23/2029 •  |  | 21000 | 20837 |
|  4.203% due 07/23/2029 •  |  | 300 | 298 |
|  4.603% due 10/22/2030 •  |  | 6100 | 6114 |
|  4.810% due 10/22/2036 •  |  | 1600 | 1554 |
|  4.912% due 07/25/2033 •(o) |  | 33672 | 33707 |
|  4.946% due 10/22/2035 •(o) |  | 8000 | 7915 |
|  5.140% due 01/24/2031 •  |  | 4300 | 4380 |
|  5.294% due 07/22/2035 •  |  | 11900 | 12051 |
|  5.299% due 07/24/2029 •  |  | 2300 | 2343 |
|  5.350% due 06/01/2034 •  |  | 46600 | 47568 |
|  5.534% due 11/29/2045 •  |  | 18000 | 17691 |
|  6.087% due 10/23/2029 •  |  | 14800 | 15381 |
|  JPMorgan Chase Bank NA | JPMorgan Chase Bank NA | JPMorgan Chase Bank NA | JPMorgan Chase Bank NA |
|  5.110% due 12/08/2026 |  | 10000 | 10057 |
|  Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. |
|  5.000% due 11/30/2027 |  | 407 | 35 |
|  Kaisa Group Holdings Ltd. (5.250% Cash or 6.250% PIK) | Kaisa Group Holdings Ltd. (5.250% Cash or 6.250% PIK) | Kaisa Group Holdings Ltd. (5.250% Cash or 6.250% PIK) | Kaisa Group Holdings Ltd. (5.250% Cash or 6.250% PIK) |
|  5.250% due 12/28/2028 (c) |  | 1357 | 12 |
|  Kaisa Group Holdings Ltd. (5.500% Cash or 6.500% PIK) | Kaisa Group Holdings Ltd. (5.500% Cash or 6.500% PIK) | Kaisa Group Holdings Ltd. (5.500% Cash or 6.500% PIK) | Kaisa Group Holdings Ltd. (5.500% Cash or 6.500% PIK) |
|  5.500% due 12/28/2029 (c) |  | 2272 | 7 |
|  Kaisa Group Holdings Ltd. (5.750% Cash or 6.750% PIK) | Kaisa Group Holdings Ltd. (5.750% Cash or 6.750% PIK) | Kaisa Group Holdings Ltd. (5.750% Cash or 6.750% PIK) | Kaisa Group Holdings Ltd. (5.750% Cash or 6.750% PIK) |
|  5.750% due 12/28/2030 (c) |  | 2738 | 7 |
|  Kaisa Group Holdings Ltd. (6.000% Cash or 7.000% PIK) | Kaisa Group Holdings Ltd. (6.000% Cash or 7.000% PIK) | Kaisa Group Holdings Ltd. (6.000% Cash or 7.000% PIK) | Kaisa Group Holdings Ltd. (6.000% Cash or 7.000% PIK) |
|  6.000% due 12/28/2031 (c) |  | 4126 | 18 |
|  Kaisa Group Holdings Ltd. (6.250% Cash or 7.250% PIK) | Kaisa Group Holdings Ltd. (6.250% Cash or 7.250% PIK) | Kaisa Group Holdings Ltd. (6.250% Cash or 7.250% PIK) | Kaisa Group Holdings Ltd. (6.250% Cash or 7.250% PIK) |
|  |  | 3880 | 63 |
|  Kaisa Group Holdings Ltd. (6.721% Cash or 7.721% PIK) | Kaisa Group Holdings Ltd. (6.721% Cash or 7.721% PIK) | Kaisa Group Holdings Ltd. (6.721% Cash or 7.721% PIK) | Kaisa Group Holdings Ltd. (6.721% Cash or 7.721% PIK) |
|  6.721% due 12/28/2027 (c) |  | 928 | 9 |
|  KBC Group NV | KBC Group NV | KBC Group NV | KBC Group NV |
|  6.250% due 09/17/2031 •(j)(k) | EUR | 3600 | 4229 |
|  8.000% due 09/05/2028 •(j)(k) |  | 600 | 741 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  2.500% due 11/15/2032 | 7800 | 6355 |
|  2.650% due 11/15/2033 | 2472 | 1967 |
|  3.050% due 02/15/2030 | 6595 | 6015 |
|  6.250% due 01/15/2036 | 3500 | 3471 |
|  Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. |
|  6.412% (T-BILL 3MO + 2.750%) due 04/09/2029 ~ | 1046 | 1064 |
|  KKR Financial Holdings LLC | KKR Financial Holdings LLC | KKR Financial Holdings LLC |
|  5.400% due 05/23/2033 | 10000 | 9450 |
|  Lazard Group LLC | Lazard Group LLC | Lazard Group LLC |
|  4.375% due 03/11/2029 | 3046 | 3012 |
|  4.500% due 09/19/2028 | 3500 | 3485 |
|  6.000% due 03/15/2031 | 8700 | 9042 |
|  Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. |
|  4.800% due 09/17/2049 ^(d) | 300 | 0 |
|  Lloyds Bank PLC | Lloyds Bank PLC | Lloyds Bank PLC |
|  0.000% due 04/02/2032 þ | 6200 | 4658 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  3.750% due 01/11/2027 | 2600 | 2590 |
|  3.750% due 03/18/2028 •  | 6100 | 6061 |
|  4.375% due 03/22/2028 | 500 | 499 |
|  5.985% due 08/07/2027 •  | 1800 | 1809 |
|  6.068% due 06/13/2036 •  | 13100 | 13321 |
|  8.500% due 09/27/2027 •(j)(k) | 19500 | 26638 |
|  Locke Tavern Re Ltd. | Locke Tavern Re Ltd. | Locke Tavern Re Ltd. |
|  4.060% (JMMMUSTF + 3.250%) due 04/11/2033 ~ | 300 | 300 |
|  4.060% (JMMMUSTF + 4.250%) due 04/11/2033 ~ | 250 | 250 |
|  Logicor Financing SARL | Logicor Financing SARL | Logicor Financing SARL |
|  1.625% due 07/15/2027 | 4000 | 4534 |
|  Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. |
|  21.473% (GSMMUSTI + 17.932%) due 05/27/2031 ~ | 3200 | 3388 |
|  LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
|  5.650% due 03/15/2035 | 8000 | 7943 |
|  Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. |
|  4.250% due 03/23/2029 | 3800 | 3773 |
|  Luca RE Ltd. | Luca RE Ltd. | Luca RE Ltd. |
|  10.810% (JMMMUSTF + 7.250%) due 07/22/2031 ~ | 1000 | 1031 |
|  Marex Group PLC | Marex Group PLC | Marex Group PLC |
|  5.829% due 05/08/2028 | 2900 | 2932 |
|  Marsh & McLennan Cos., Inc. | Marsh & McLennan Cos., Inc. | Marsh & McLennan Cos., Inc. |
|  5.000% due 03/15/2035 | 16600 | 16538 |
|  5.350% due 11/15/2044 | 1263 | 1197 |
|  5.400% due 03/15/2055 (o) | 4000 | 3754 |
|  Meiji Yasuda Life Insurance Co. | Meiji Yasuda Life Insurance Co. | Meiji Yasuda Life Insurance Co. |
|  6.100% due 06/11/2055 •  | 7100 | 7131 |
|  Mercury General Corp. | Mercury General Corp. | Mercury General Corp. |
|  4.400% due 03/15/2027 | 2313 | 2298 |
|  Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. |
|  1.538% due 07/20/2027 •  | 4200 | 4162 |
|  2.048% due 07/17/2030 | 3200 | 2880 |
|  4.505% due 01/14/2032 •  | 10500 | 10352 |
|  5.133% due 07/20/2033 •  | 29400 | 29696 |
|  5.188% due 09/12/2036 •  | 5000 | 4967 |
|  5.354% due 09/13/2028 •  | 5200 | 5264 |
|  5.426% due 04/17/2035 •  | 2000 | 2036 |
|  5.574% due 01/16/2036 •  | 5900 | 6040 |
|  Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. |
|  1.979% due 09/08/2031 •  | 17200 | 15273 |
|  2.869% due 09/13/2030 •  | 7800 | 7359 |
|  5.594% due 07/10/2035 •  | 2000 | 2052 |
|  MMIFS Re Ltd. | MMIFS Re Ltd. | MMIFS Re Ltd. |
|  5.151% (CAONINDX + 2.900%) due 01/10/2033 ~ | 300 | 216 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  0.000% due 04/02/2032 þ(m) | 15800 | 11774 |
|  1.593% due 05/04/2027 •  | 9600 | 9574 |
|  1.794% due 02/13/2032 •  | 36100 | 31269 |
|  2.239% due 07/21/2032 •  | 20000 | 17517 |
|  2.475% due 01/21/2028 •  | 1900 | 1870 |
|  3.383% due 01/23/2032 •  | 5200 | 5904 |
|  3.622% due 04/01/2031 •  | 3600 | 3453 |

---

---

| | | |
|:---|:---|:---|
| **84** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.772% due 01/24/2029 •  | $— | 2504 | $— | 2471 |
|  4.238% due 01/09/2030 •  |  | 3200 |  | 3168 |
|  4.356% due 10/22/2031 •  |  | 7300 |  | 7156 |
|  4.431% due 01/23/2030 •  |  | 2500 |  | 2489 |
|  4.654% due 10/18/2030 •  |  | 14600 |  | 14597 |
|  4.708% due 03/12/2032 •  |  | 8900 |  | 8842 |
|  5.042% due 07/19/2030 •  |  | 9400 |  | 9511 |
|  5.123% due 02/01/2029 •  |  | 11600 |  | 11731 |
|  5.173% due 01/16/2030 •  |  | 17400 |  | 17648 |
|  5.230% due 01/15/2031 •  |  | 12100 |  | 12289 |
|  5.250% due 04/21/2034 •  |  | 1700 |  | 1706 |
|  5.424% due 07/21/2034 •  |  | 13800 |  | 14008 |
|  5.466% due 01/18/2035 •  |  | 5000 |  | 5084 |
|  5.587% due 01/18/2036 •  |  | 6758 |  | 6892 |
|  6.250% due 08/09/2026 |  | 269 |  | 271 |
|  6.407% due 11/01/2029 •  |  | 12000 |  | 12526 |
|  Morgan Stanley Bank NA | Morgan Stanley Bank NA | Morgan Stanley Bank NA | Morgan Stanley Bank NA | Morgan Stanley Bank NA |
|  5.882% due 10/30/2026 |  | 27000 |  | 27254 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |
|  4.204% due 11/17/2028 •  |  | 17000 |  | 16947 |
|  4.734% due 07/18/2031 •  |  | 6000 |  | 5983 |
|  Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding |
|  5.350% due 04/09/2027 |  | 14709 |  | 14845 |
|  5.450% due 12/12/2028 |  | 3000 |  | 3066 |
|  National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. |
|  3.000% due 02/01/2031 |  | 1500 |  | 1350 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  3.960% due 07/18/2030 •  |  | 3725 |  | 3642 |
|  7.875% due 12/20/2031 •(j)(k) |  | 2300 |  | 3063 |
|  Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. |
|  3.900% due 11/30/2049 | $— | 5200 |  | 3868 |
|  Nature Coast Re Ltd. | Nature Coast Re Ltd. | Nature Coast Re Ltd. | Nature Coast Re Ltd. | Nature Coast Re Ltd. |
|  11.661% (T-BILL 3MO + 8.000%) due 02/26/2030 ~ |  | 500 |  | 499 |
|  NatWest Group PLC | NatWest Group PLC | NatWest Group PLC | NatWest Group PLC | NatWest Group PLC |
|  4.905% (SOFRRATE + 1.250%) due 03/01/2028 ~ |  | 2900 |  | 2913 |
|  5.125% due 05/12/2027 •(j)(k) |  | 30060 |  | 39187 |
|  5.583% due 03/01/2028 •  | $— | 1000 |  | 1010 |
|  7.300% due 11/19/2034 •(j)(k) |  | 3500 |  | 3557 |
|  7.625% due 09/30/2035 •(j)(k)(o) |  | 8000 |  | 10487 |
|  Neuberger Berman Group LLC/Neuberger Berman Finance Corp. | Neuberger Berman Group LLC/Neuberger Berman Finance Corp. | Neuberger Berman Group LLC/Neuberger Berman Finance Corp. | Neuberger Berman Group LLC/Neuberger Berman Finance Corp. | Neuberger Berman Group LLC/Neuberger Berman Finance Corp. |
|  4.500% due 03/15/2027 | $— | 7800 |  | 7780 |
|  New Immo Holding SA | New Immo Holding SA | New Immo Holding SA | New Immo Holding SA | New Immo Holding SA |
|  2.750% due 11/26/2026 |  | 4500 |  | 5148 |
|  4.875% due 12/08/2028 |  | 6000 |  | 6782 |
|  Newmark Group, Inc. | Newmark Group, Inc. | Newmark Group, Inc. | Newmark Group, Inc. | Newmark Group, Inc. |
|  7.500% due 01/12/2029 | $— | 8200 |  | 8601 |
|  Nippon Life Insurance Co. | Nippon Life Insurance Co. | Nippon Life Insurance Co. | Nippon Life Insurance Co. | Nippon Life Insurance Co. |
|  6.250% due 09/13/2053 •  |  | 3000 |  | 3066 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |
|  2.750% due 03/09/2028 |  | 7400 |  | 6923 |
|  NLG Global Funding | NLG Global Funding | NLG Global Funding | NLG Global Funding | NLG Global Funding |
|  5.400% due 01/23/2030 |  | 12100 |  | 12389 |
|  Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. |
|  2.172% due 07/14/2028 |  | 4600 |  | 4359 |
|  2.329% due 01/22/2027 |  | 1000 |  | 983 |
|  4.936% (SOFRRATE + 1.250%) due 07/02/2027 ~ |  | 12500 |  | 12578 |
|  5.594% due 07/02/2027 |  | 3500 |  | 3544 |
|  5.842% due 01/18/2028 |  | 15000 |  | 15331 |
|  7.000% due 07/15/2030 •(j)(k) |  | 7800 |  | 7859 |
|  Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp |
|  3.750% due 03/01/2029 •(j)(k) |  | 1100 |  | 1021 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  5.094% due 10/16/2029 |  | 517 |  | 523 |
|  Nykredit Realkredit AS | Nykredit Realkredit AS | Nykredit Realkredit AS | Nykredit Realkredit AS | Nykredit Realkredit AS |
|  1.000% due 10/01/2050 |  | 58579 |  | 7008 |
|  1.000% due 10/01/2053 |  | 1868 |  | 210 |
|  1.500% due 10/01/2052 |  | 28971 |  | 3482 |
|  1.500% due 10/01/2053 |  | 72596 |  | 8948 |
|  Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. |
|  3.250% due 04/15/2033 | $— | 5274 |  | 4644 |
|  4.750% due 01/15/2028 |  | 700 |  | 700 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
|  5.375% due 11/15/2029 | 4500 | 4343 |
|  7.875% due 03/15/2030 | 3200 | 3304 |
|  Orange Capital RE DAC | Orange Capital RE DAC | Orange Capital RE DAC |
|  8.026% (EUR003M + 6.000%) due 01/17/2029 ~ | 250 | 304 |
|  Pacific Life Global Funding II | Pacific Life Global Funding II | Pacific Life Global Funding II |
|  4.266% (SOFRRATE + 0.600%) due 01/27/2028 ~ | 21000 | 21002 |
|  4.850% due 02/10/2030 | 1100 | 1110 |
|  Palm RE Ltd. | Palm RE Ltd. | Palm RE Ltd. |
|  13.240% (BNMMDTSC + 9.700%) due 06/09/2031 ~ | 300 | 314 |
|  Panama Infrastructure Receivable Purchaser PLC | Panama Infrastructure Receivable Purchaser PLC | Panama Infrastructure Receivable Purchaser PLC |
|  0.000% due 04/05/2032 (g) | 8600 | 6734 |
|  Phillips Edison Grocery Center Operating Partnership I LP | Phillips Edison Grocery Center Operating Partnership I LP | Phillips Edison Grocery Center Operating Partnership I LP |
|  5.750% due 07/15/2034 | 2800 | 2878 |
|  Piedmont Operating Partnership LP | Piedmont Operating Partnership LP | Piedmont Operating Partnership LP |
|  6.875% due 07/15/2029 | 4800 | 5030 |
|  Pinnacol Assurance | Pinnacol Assurance | Pinnacol Assurance |
|  8.625% due 06/25/2034 «(m) | 6000 | 6371 |
|  Polestar Re Ltd. | Polestar Re Ltd. | Polestar Re Ltd. |
|  10.661% (BRMMUSDF + 7.000%) due 01/08/2029 ~ | 250 | 251 |
|  12.661% (BRMMUSDF + 9.000%) due 01/08/2029 ~ | 250 | 250 |
|  14.150% (BRMMUSDF + 10.590%) due 01/07/2028 ~ | 1000 | 1048 |
|  14.161% (BRMMUSDF + 10.500%) due 01/08/2029 ~ | 250 | 251 |
|  16.810% (BRMMUSDF + 13.250%) due 01/07/2027 ~ | 4000 | 4136 |
|  Popular, Inc. | Popular, Inc. | Popular, Inc. |
|  7.250% due 03/13/2028 | 3400 | 3525 |
|  Principal Financial Group, Inc. | Principal Financial Group, Inc. | Principal Financial Group, Inc. |
|  4.111% due 02/15/2028 | 3500 | 3470 |
|  Principal Life Global Funding II | Principal Life Global Funding II | Principal Life Global Funding II |
|  3.000% due 04/18/2026 | 1800 | 1799 |
|  Prologis LP | Prologis LP | Prologis LP |
|  4.200% due 02/15/2033 | 9500 | 6808 |
|  Protective Life Corp. | Protective Life Corp. | Protective Life Corp. |
|  3.400% due 01/15/2030 | 6088 | 5810 |
|  4.300% due 09/30/2028 | 10900 | 10842 |
|  Protective Life Global Funding | Protective Life Global Funding | Protective Life Global Funding |
|  5.432% due 01/14/2032 | 5000 | 5130 |
|  Public Storage Operating Co. | Public Storage Operating Co. | Public Storage Operating Co. |
|  0.500% due 09/09/2030 | 2200 | 2217 |
|  Purple Re Ltd. | Purple Re Ltd. | Purple Re Ltd. |
|  6.060% (JMMMUSTF + 2.500%) due 06/07/2033 ~ | 300 | 300 |
|  12.686% (JMMMUSTF + 9.126%) due 06/07/2027 ~ | 3400 | 3507 |
|  Quercus II Re DAC | Quercus II Re DAC | Quercus II Re DAC |
|  13.079% (EUR003M + 11.000%) due 01/07/2031 ~ | 400 | 462 |
|  Quercus Re DAC | Quercus Re DAC | Quercus Re DAC |
|  10.020% (EUR003M + 8.000%) due 07/08/2027 ~ | 300 | 358 |
|  Radian Group, Inc. | Radian Group, Inc. | Radian Group, Inc. |
|  6.200% due 05/15/2029 | 1055 | 1091 |
|  Realty Income Corp. | Realty Income Corp. | Realty Income Corp. |
|  3.200% due 01/15/2027 | 5100 | 5057 |
|  4.450% due 09/15/2026 | 4100 | 4101 |
|  4.750% due 04/15/2033 (b) | 6400 | 6315 |
|  4.875% due 06/01/2026 | 4670 | 4671 |
|  Regency Centers LP | Regency Centers LP | Regency Centers LP |
|  3.600% due 02/01/2027 | 880 | 875 |
|  Reliance Standard Life Global Funding II | Reliance Standard Life Global Funding II | Reliance Standard Life Global Funding II |
|  2.750% due 01/21/2027 | 160 | 158 |
|  Rexford Industrial Realty LP | Rexford Industrial Realty LP | Rexford Industrial Realty LP |
|  2.125% due 12/01/2030 | 6300 | 5582 |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |
|  2.700% due 01/18/2029 | 4300 | 4087 |
|  5.250% due 01/09/2030 | 8000 | 8141 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.500% due 01/11/2031 | $— | 6100 | $— | 6274 |
|  6.000% due 11/21/2028 |  | 3696 |  | 3823 |
|  Royal Bank of Canada | Royal Bank of Canada | Royal Bank of Canada | Royal Bank of Canada | Royal Bank of Canada |
|  4.456% (SOFRINDX + 0.790%) due 07/23/2027 ~ |  | 600 |  | 601 |
|  Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. | Royal Bank of Scotland International Ltd. |
|  4.660% due 12/16/2028 «(m) |  | 10000 |  | 9872 |
|  Sabra Health Care LP | Sabra Health Care LP | Sabra Health Care LP | Sabra Health Care LP | Sabra Health Care LP |
|  3.900% due 10/15/2029 |  | 3213 |  | 3121 |
|  Sammons Financial Group Global Funding | Sammons Financial Group Global Funding | Sammons Financial Group Global Funding | Sammons Financial Group Global Funding | Sammons Financial Group Global Funding |
|  5.050% due 01/10/2028 |  | 1000 |  | 1009 |
|  Sammons Financial Group, Inc. | Sammons Financial Group, Inc. | Sammons Financial Group, Inc. | Sammons Financial Group, Inc. | Sammons Financial Group, Inc. |
|  3.350% due 04/16/2031 |  | 3050 |  | 2802 |
|  6.875% due 04/15/2034 |  | 18968 |  | 20112 |
|  Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. |
|  3.244% due 10/05/2026 |  | 15533 |  | 15446 |
|  5.353% due 09/06/2030 •  |  | 7821 |  | 7908 |
|  5.473% due 03/20/2029 •  |  | 10800 |  | 10953 |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  2.469% due 01/11/2028 •  |  | 1100 |  | 1082 |
|  4.320% due 09/22/2029 •  |  | 10000 |  | 9908 |
|  SBA Tower Trust | SBA Tower Trust | SBA Tower Trust | SBA Tower Trust | SBA Tower Trust |
|  1.631% due 05/15/2051 |  | 3800 |  | 3738 |
|  SBL Holdings, Inc. | SBL Holdings, Inc. | SBL Holdings, Inc. | SBL Holdings, Inc. | SBL Holdings, Inc. |
|  5.900% due 09/26/2028 |  | 2700 |  | 2549 |
|  7.200% due 10/30/2034 |  | 1500 |  | 1313 |
|  Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |
|  5.750% due 01/15/2030 |  | 200 |  | 197 |
|  6.125% due 07/15/2030 |  | 6600 |  | 6566 |
|  6.500% due 03/11/2029 |  | 8600 |  | 8721 |
|  Societe Generale SA | Societe Generale SA | Societe Generale SA | Societe Generale SA | Societe Generale SA |
|  5.250% due 02/19/2027 |  | 600 |  | 604 |
|  Standard Chartered Bank | Standard Chartered Bank | Standard Chartered Bank | Standard Chartered Bank | Standard Chartered Bank |
|  4.853% due 12/03/2027 |  | 5000 |  | 5056 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |
|  3.603% due 01/12/2033 •  |  | 8100 |  | 7352 |
|  Stifel Financial Corp. | Stifel Financial Corp. | Stifel Financial Corp. | Stifel Financial Corp. | Stifel Financial Corp. |
|  4.000% due 05/15/2030 |  | 9800 |  | 9527 |
|  Store Capital LLC | Store Capital LLC | Store Capital LLC | Store Capital LLC | Store Capital LLC |
|  2.700% due 12/01/2031 |  | 3800 |  | 3309 |
|  2.750% due 11/18/2030 |  | 3200 |  | 2883 |
|  5.400% due 04/30/2030 |  | 5300 |  | 5327 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  2.130% due 07/08/2030 |  | 2300 |  | 2069 |
|  2.750% due 01/15/2030 |  | 4700 |  | 4389 |
|  4.108% due 01/15/2029 |  | 13200 |  | 13087 |
|  4.494% due 01/15/2032 •  |  | 24400 |  | 24035 |
|  5.424% due 07/09/2031 |  | 6500 |  | 6657 |
|  5.558% due 07/09/2034 |  | 9400 |  | 9638 |
|  5.632% due 01/15/2035 |  | 36000 |  | 37172 |
|  Sun Communities Operating LP | Sun Communities Operating LP | Sun Communities Operating LP | Sun Communities Operating LP | Sun Communities Operating LP |
|  2.700% due 07/15/2031 |  | 5800 |  | 5190 |
|  4.200% due 04/15/2032 |  | 7765 |  | 7397 |
|  Synchrony Financial | Synchrony Financial | Synchrony Financial | Synchrony Financial | Synchrony Financial |
|  3.700% due 08/04/2026 |  | 4100 |  | 4088 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.400% due 03/24/2028 |  | 16000 |  | 15920 |
|  4.500% due 03/24/2029 |  | 6000 |  | 5963 |
|  Tesco Property Finance 4 PLC | Tesco Property Finance 4 PLC | Tesco Property Finance 4 PLC | Tesco Property Finance 4 PLC | Tesco Property Finance 4 PLC |
|  5.801% due 10/13/2040 |  | 5536 |  | 7182 |
|  Tesco Property Finance 5 PLC | Tesco Property Finance 5 PLC | Tesco Property Finance 5 PLC | Tesco Property Finance 5 PLC | Tesco Property Finance 5 PLC |
|  5.661% due 10/13/2041 |  | 3040 |  | 3914 |
|  Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm |
|  9.750% due 10/10/2027 |  | 604 |  | 767 |
|  Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. |
|  9.596% (JMMMUSTF + 6.036%) due 06/07/2027 ~ | $— | 1000 |  | 1034 |
|  10.666% (JMMMUSTF + 7.106%) due 06/07/2027 ~ |  | 500 |  | 518 |
|  12.938% (BRMMUSDF + 9.378%) due 06/05/2026 ~ |  | 300 |  | 303 |
|  Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. |
|  7.661% (T-BILL 1MO + 4.000%) due 03/22/2033 ~ |  | 250 |  | 250 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **85** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Truist Financial Corp. | Truist Financial Corp. | Truist Financial Corp. |
|  7.161% due 10/30/2029 •  | 5800 | 6167 |
|  Trust 2401 | Trust 2401 | Trust 2401 |
|  4.869% due 01/15/2030 (o) | 1407 | 1356 |
|  6.390% due 01/15/2050 | 1127 | 1029 |
|  6.950% due 01/30/2044 | 1663 | 1616 |
|  Trust Fibra Uno | Trust Fibra Uno | Trust Fibra Uno |
|  4.869% due 01/15/2030 (o) | 643 | 617 |
|  6.390% due 01/15/2050 | 573 | 516 |
|  6.950% due 01/30/2044 | 320 | 315 |
|  U.S. Bancorp | U.S. Bancorp | U.S. Bancorp |
|  6.787% due 10/26/2027 •  | 32650 | 33088 |
|  UBS AG | UBS AG | UBS AG |
|  1.250% due 08/07/2026 | 2700 | 2672 |
|  4.302% due 03/16/2029 •  | 8800 | 8791 |
|  UBS Group AG | UBS Group AG | UBS Group AG |
|  1.494% due 08/10/2027 •  | 11100 | 10981 |
|  2.095% due 02/11/2032 •  | 7600 | 6698 |
|  2.746% due 02/11/2033 •  | 4500 | 3981 |
|  4.151% due 12/23/2029 •  | 20000 | 19774 |
|  4.194% due 04/01/2031 •  | 14600 | 14289 |
|  4.214% due 04/10/2030 •  | 20000 | 19750 |
|  5.428% due 02/08/2030 •  | 12000 | 12261 |
|  5.617% due 09/13/2030 •  | 15100 | 15571 |
|  6.246% due 09/22/2029 •  | 12800 | 13305 |
|  7.000% due 02/05/2035 •(j)(k) | 7000 | 6808 |
|  9.250% due 11/13/2028 •(j)(k) | 7000 | 7465 |
|  UDR, Inc. | UDR, Inc. | UDR, Inc. |
|  3.500% due 01/15/2028 | 7425 | 7306 |
|  UniCredit SpA | UniCredit SpA | UniCredit SpA |
|  7.296% due 04/02/2034 •  | 5200 | 5474 |
|  7.500% due 06/03/2026 •(j)(k) | 11000 | 12777 |
|  Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) | Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) | Unigel Netherlands Holding Corp. BV (15.000% Cash or 15.000% PIK) |
|  15.000% due 12/31/2044 ^(c)(d) | 2562 | 51 |
|  Ursa Re II Ltd. | Ursa Re II Ltd. | Ursa Re II Ltd. |
|  8.661% (MSMMUSTF + 5.000%) due 12/07/2029 ~ | 250 | 248 |
|  11.411% (MSMMUSTF + 7.750%) due 06/07/2028 ~ | 250 | 252 |
|  Ursa Re Ltd. | Ursa Re Ltd. | Ursa Re Ltd. |
|  11.041% (GSMMUSTI + 7.500%) due 02/22/2028 ~ | 1450 | 1483 |
|  Veraison Re Ltd. | Veraison Re Ltd. | Veraison Re Ltd. |
|  6.441% (GSMMUSTI + 2.900%) due 03/08/2029 ~ | 400 | 400 |
|  7.691% (GSMMUSTI + 4.150%) due 03/08/2029 ~ | 250 | 250 |
|  8.541% (GSMMUSTI + 5.000%) due 03/08/2033 ~ | 250 | 254 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP |
|  4.750% due 02/15/2028 | 1000 | 1001 |
|  5.125% due 11/15/2031 | 4100 | 4072 |
|  5.125% due 05/15/2032 | 12600 | 12423 |
|  5.625% due 04/01/2035 | 2000 | 1992 |
|  5.750% due 04/01/2034 | 7700 | 7774 |
|  6.125% due 04/01/2054 | 3000 | 2861 |
|  VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. |
|  3.875% due 02/15/2029 | 18650 | 18130 |
|  4.125% due 08/15/2030 | 12531 | 12005 |
|  4.500% due 01/15/2028 | 1400 | 1392 |
|  4.625% due 12/01/2029 | 2400 | 2360 |
|  5.750% due 02/01/2027 | 1650 | 1660 |
|  Vitality Re XVII Ltd. | Vitality Re XVII Ltd. | Vitality Re XVII Ltd. |
|  5.541% (GSMMUSTI + 2.000%) due 01/08/2031 ~ | 800 | 800 |
|  5.941% (GSMMUSTI + 2.400%) due 01/08/2031 ~ | 300 | 300 |
|  7.541% (GSMMUSTI + 4.000%) due 01/08/2031 ~ | 250 | 250 |
|  Voya Financial, Inc. | Voya Financial, Inc. | Voya Financial, Inc. |
|  5.000% due 09/20/2034 | 14800 | 14414 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  2.393% due 06/02/2028 •  | 31810 | 31054 |
|  3.000% due 04/22/2026 | 21809 | 21780 |
|  3.196% due 06/17/2027 •  | 10670 | 10640 |
|  3.526% due 03/24/2028 •  | 23800 | 23609 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.584% due 05/22/2028 •  | $— | 38906 | 38545 |
|  4.182% due 01/23/2030 •  |  | 5700 | 5650 |
|  4.736% (SOFRRATE + 1.070%) due 04/22/2028 ~ |  | 11400 | 11443 |
|  4.892% due 09/15/2036 •  |  | 14900 | 14502 |
|  5.198% due 01/23/2030 •  |  | 14400 | 14628 |
|  5.244% due 01/24/2031 •  |  | 7300 | 7443 |
|  5.557% due 07/25/2034 •  |  | 14300 | 14660 |
|  5.574% due 07/25/2029 •  |  | 17400 | 17802 |
|  Western-Southern Global Funding | Western-Southern Global Funding | Western-Southern Global Funding | Western-Southern Global Funding |
|  4.500% due 07/16/2028 |  | 4300 | 4301 |
|  Weyerhaeuser Co. | Weyerhaeuser Co. | Weyerhaeuser Co. | Weyerhaeuser Co. |
|  4.000% due 04/15/2030 |  | 8056 | 7849 |
|  4.750% due 05/15/2026 |  | 7734 | 7737 |
|  7.350% due 07/01/2026 |  | 2000 | 2012 |
|  7.375% due 03/15/2032 |  | 5657 | 6309 |
|  Windmill III Re DAC | Windmill III Re DAC | Windmill III Re DAC | Windmill III Re DAC |
|  7.236% (EUR003M + 5.210%) due 07/05/2028 ~ |  | 250 | 299 |
|  Windrose Re Ltd. | Windrose Re Ltd. | Windrose Re Ltd. | Windrose Re Ltd. |
|  8.790% (HSMMUSTF + 5.250%) due 02/11/2033 ~ | $— | 250 | 249 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  4.250% due 10/01/2026 |  | 6446 | 6435 |
|  |  |  | 4212406 |
| INDUSTRIALS 27.4% | INDUSTRIALS 27.4% | INDUSTRIALS 27.4% | INDUSTRIALS 27.4% |
|  7-Eleven, Inc. | 7-Eleven, Inc. | 7-Eleven, Inc. | 7-Eleven, Inc. |
|  1.800% due 02/10/2031 |  | 26000 | 22516 |
|  AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
|  4.250% due 11/21/2049 |  | 6700 | 5442 |
|  5.050% due 03/15/2034 |  | 8000 | 8122 |
|  5.200% due 03/15/2035 |  | 4757 | 4843 |
|  5.350% due 03/15/2044 |  | 10000 | 9752 |
|  Adani Transmission Step-One Ltd. | Adani Transmission Step-One Ltd. | Adani Transmission Step-One Ltd. | Adani Transmission Step-One Ltd. |
|  4.000% due 08/03/2026 |  | 3075 | 3073 |
|  Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. |
|  4.250% due 09/11/2029 |  | 11900 | 11727 |
|  4.500% due 09/11/2034 |  | 5000 | 4741 |
|  Adventist Health System | Adventist Health System | Adventist Health System | Adventist Health System |
|  2.952% due 03/01/2029 |  | 3000 | 2856 |
|  AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC |
|  2.750% due 08/15/2051 |  | 4800 | 2894 |
|  5.375% due 06/15/2035 |  | 555 | 564 |
|  Aeroporti di Roma SpA | Aeroporti di Roma SpA | Aeroporti di Roma SpA | Aeroporti di Roma SpA |
|  1.750% due 07/30/2031 |  | 3000 | 3134 |
|  Air Canada Pass-Through Trust | Air Canada Pass-Through Trust | Air Canada Pass-Through Trust | Air Canada Pass-Through Trust |
|  3.300% due 07/15/2031 | $— | 3326 | 3186 |
|  3.600% due 09/15/2028 |  | 2351 | 2320 |
|  5.250% due 10/01/2030 |  | 2320 | 2353 |
|  Aker BP ASA | Aker BP ASA | Aker BP ASA | Aker BP ASA |
|  3.100% due 07/15/2031 |  | 10893 | 9955 |
|  3.750% due 01/15/2030 |  | 4100 | 3941 |
|  Alaska Airlines Pass-Through Trust | Alaska Airlines Pass-Through Trust | Alaska Airlines Pass-Through Trust | Alaska Airlines Pass-Through Trust |
|  4.800% due 02/15/2029 |  | 6371 | 6377 |
|  Alcon Finance Corp. | Alcon Finance Corp. | Alcon Finance Corp. | Alcon Finance Corp. |
|  3.000% due 09/23/2029 |  | 4900 | 4658 |
|  Allegion U.S. Holding Co., Inc. | Allegion U.S. Holding Co., Inc. | Allegion U.S. Holding Co., Inc. | Allegion U.S. Holding Co., Inc. |
|  3.550% due 10/01/2027 |  | 400 | 394 |
|  Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. |
|  5.100% due 03/17/2030 |  | 2761 | 2788 |
|  Amdocs Ltd. | Amdocs Ltd. | Amdocs Ltd. | Amdocs Ltd. |
|  2.538% due 06/15/2030 |  | 14850 | 13445 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.000% due 04/15/2030 |  | 2565 | 2488 |
|  3.150% due 08/15/2033 |  | 16641 | 15531 |
|  3.200% due 12/15/2029 |  | 5820 | 5676 |
|  3.350% due 04/15/2031 |  | 11228 | 10868 |
|  3.375% due 11/01/2028 |  | 1280 | 1265 |
|  3.575% due 07/15/2029 |  | 2012 | 1985 |
|  3.650% due 02/15/2029 |  | 2894 | 2818 |
|  3.700% due 04/01/2028 |  | 4238 | 4224 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  4.663% due 06/15/2051 |  | 2254 | 1892 |
|  5.150% due 03/02/2028 |  | 5500 | 5583 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.250% due 03/02/2030 | $— | 9929 | $— | 10198 |
|  5.250% due 03/02/2033 (o) |  | 21900 |  | 22482 |
|  5.600% due 03/02/2043 |  | 33650 |  | 33220 |
|  5.750% due 03/02/2063 (o) |  | 20100 |  | 19349 |
|  Apple, Inc. | Apple, Inc. | Apple, Inc. | Apple, Inc. | Apple, Inc. |
|  4.850% due 05/10/2053 |  | 2000 |  | 1842 |
|  Ashtead Capital, Inc. | Ashtead Capital, Inc. | Ashtead Capital, Inc. | Ashtead Capital, Inc. | Ashtead Capital, Inc. |
|  4.000% due 05/01/2028 |  | 9445 |  | 9319 |
|  4.250% due 11/01/2029 |  | 3300 |  | 3236 |
|  5.800% due 04/15/2034 |  | 1383 |  | 1411 |
|  Astrazeneca Finance LLC | Astrazeneca Finance LLC | Astrazeneca Finance LLC | Astrazeneca Finance LLC | Astrazeneca Finance LLC |
|  4.900% due 02/26/2031 |  | 11600 |  | 11852 |
|  AutoZone, Inc. | AutoZone, Inc. | AutoZone, Inc. | AutoZone, Inc. | AutoZone, Inc. |
|  5.100% due 07/15/2029 |  | 1025 |  | 1043 |
|  5.125% due 06/15/2030 |  | 900 |  | 916 |
|  Bacardi Ltd. | Bacardi Ltd. | Bacardi Ltd. | Bacardi Ltd. | Bacardi Ltd. |
|  5.150% due 05/15/2038 |  | 10500 |  | 9737 |
|  Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |
|  3.226% due 03/11/2030 |  | 7000 |  | 8016 |
|  Baptist Healthcare System Obligated Group | Baptist Healthcare System Obligated Group | Baptist Healthcare System Obligated Group | Baptist Healthcare System Obligated Group | Baptist Healthcare System Obligated Group |
|  3.540% due 08/15/2050 | $— | 3200 |  | 2300 |
|  BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. |
|  5.625% due 08/15/2035 |  | 1400 |  | 1440 |
|  Baxter International, Inc. | Baxter International, Inc. | Baxter International, Inc. | Baxter International, Inc. | Baxter International, Inc. |
|  4.450% due 02/15/2029 |  | 1700 |  | 1679 |
|  4.900% due 12/15/2030 |  | 4500 |  | 4443 |
|  Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC |
|  4.375% due 12/15/2028 |  | 54800 |  | 54260 |
|  Bayer U.S. Finance LLC | Bayer U.S. Finance LLC | Bayer U.S. Finance LLC | Bayer U.S. Finance LLC | Bayer U.S. Finance LLC |
|  6.375% due 11/21/2030 |  | 7700 |  | 8100 |
|  6.500% due 11/21/2033 |  | 700 |  | 745 |
|  BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC | BCP V Modular Services Finance II PLC |
|  6.500% due 07/10/2031 |  | 3000 |  | 2968 |
|  Becton Dickinson & Co. | Becton Dickinson & Co. | Becton Dickinson & Co. | Becton Dickinson & Co. | Becton Dickinson & Co. |
|  4.693% due 02/13/2028 | $— | 379 |  | 381 |
|  Becton Dickinson Euro Finance SARL | Becton Dickinson Euro Finance SARL | Becton Dickinson Euro Finance SARL | Becton Dickinson Euro Finance SARL | Becton Dickinson Euro Finance SARL |
|  4.029% due 06/07/2036 |  | 7000 |  | 7997 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | $— | 112737 |  | 115999 |
|  Berry Global, Inc. | Berry Global, Inc. | Berry Global, Inc. | Berry Global, Inc. | Berry Global, Inc. |
|  4.875% due 07/15/2026 |  | 1722 |  | 1722 |
|  Block, Inc. | Block, Inc. | Block, Inc. | Block, Inc. | Block, Inc. |
|  3.500% due 06/01/2031 |  | 1300 |  | 1183 |
|  5.625% due 08/15/2030 |  | 1100 |  | 1095 |
|  6.500% due 05/15/2032 |  | 13329 |  | 13459 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  4.300% due 03/17/2028 |  | 17800 |  | 17790 |
|  4.500% due 08/11/2030 |  | 7600 |  | 7517 |
|  4.566% (SOFRINDX + 0.920%) due 03/21/2028 ~ |  | 10000 |  | 10032 |
|  4.650% due 03/19/2027 |  | 2000 |  | 2009 |
|  Boeing Co. | Boeing Co. | Boeing Co. | Boeing Co. | Boeing Co. |
|  2.950% due 02/01/2030 |  | 375 |  | 353 |
|  3.200% due 03/01/2029 |  | 185 |  | 178 |
|  3.250% due 02/01/2028 |  | 365 |  | 358 |
|  3.625% due 02/01/2031 |  | 4000 |  | 3806 |
|  5.150% due 05/01/2030 |  | 8000 |  | 8137 |
|  5.705% due 05/01/2040 |  | 16085 |  | 16118 |
|  5.805% due 05/01/2050 |  | 41001 |  | 39662 |
|  5.930% due 05/01/2060 |  | 25000 |  | 24018 |
|  6.298% due 05/01/2029 |  | 24823 |  | 26067 |
|  Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. |
|  3.875% due 09/01/2028 |  | 600 |  | 585 |
|  5.950% due 08/04/2033 |  | 7606 |  | 7774 |
|  Boston Scientific Corp. | Boston Scientific Corp. | Boston Scientific Corp. | Boston Scientific Corp. | Boston Scientific Corp. |
|  2.650% due 06/01/2030 |  | 4000 |  | 3728 |
|  British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust |
|  3.300% due 06/15/2034 |  | 7228 |  | 6850 |
|  Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
|  2.450% due 02/15/2031 |  | 21400 |  | 19440 |
|  2.600% due 02/15/2033 |  | 3800 |  | 3324 |
|  3.137% due 11/15/2035 |  | 22839 |  | 19414 |
|  3.187% due 11/15/2036 |  | 24922 |  | 20839 |
|  3.469% due 04/15/2034 |  | 4000 |  | 3604 |

---

---

| | | |
|:---|:---|:---|
| **86** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.926% due 05/15/2037 | $— | 37864 | $— | 36750 |
|  5.050% due 04/15/2030 |  | 800 |  | 816 |
|  Burberry Group PLC | Burberry Group PLC | Burberry Group PLC | Burberry Group PLC | Burberry Group PLC |
|  5.750% due 06/20/2030 |  | 6296 |  | 8344 |
|  CAB SELAS | CAB SELAS | CAB SELAS | CAB SELAS | CAB SELAS |
|  3.375% due 02/01/2028 (o) |  | 1102 |  | 1238 |
|  Cameron LNG LLC | Cameron LNG LLC | Cameron LNG LLC | Cameron LNG LLC | Cameron LNG LLC |
|  3.302% due 01/15/2035 | $— | 4300 |  | 3742 |
|  3.402% due 01/15/2038 |  | 10600 |  | 9240 |
|  Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. |
|  5.000% due 12/15/2029 |  | 578 |  | 587 |
|  5.400% due 12/15/2034 |  | 8000 |  | 8096 |
|  5.850% due 02/01/2035 |  | 6419 |  | 6716 |
|  6.250% due 03/15/2038 |  | 6997 |  | 7364 |
|  6.450% due 06/30/2033 |  | 2101 |  | 2260 |
|  Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. |
|  2.450% due 12/02/2031 |  | 5562 |  | 4944 |
|  4.950% due 08/15/2045 |  | 1631 |  | 1492 |
|  6.125% due 09/15/2115 |  | 10000 |  | 10114 |
|  Carnival Corp. | Carnival Corp. | Carnival Corp. | Carnival Corp. | Carnival Corp. |
|  4.000% due 08/01/2028 |  | 12200 |  | 11918 |
|  5.750% due 03/15/2030 |  | 9350 |  | 9429 |
|  5.750% due 08/01/2032 |  | 4400 |  | 4404 |
|  CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. |
|  2.670% due 12/01/2026 |  | 10100 |  | 9984 |
|  5.100% due 03/01/2030 |  | 6000 |  | 5993 |
|  Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
|  2.450% due 07/15/2028 |  | 3500 |  | 3262 |
|  2.500% due 03/01/2031 |  | 13801 |  | 11589 |
|  2.625% due 08/01/2031 |  | 16653 |  | 13934 |
|  3.000% due 10/15/2030 |  | 13019 |  | 11417 |
|  3.375% due 02/15/2030 |  | 900 |  | 814 |
|  4.625% due 12/15/2029 |  | 13602 |  | 12921 |
|  CGI, Inc. | CGI, Inc. | CGI, Inc. | CGI, Inc. | CGI, Inc. |
|  4.950% due 03/14/2030 |  | 4450 |  | 4474 |
|  Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital |
|  2.300% due 02/01/2032 |  | 7662 |  | 6573 |
|  3.700% due 04/01/2051 |  | 5000 |  | 3098 |
|  3.850% due 04/01/2061 |  | 23000 |  | 13445 |
|  3.900% due 06/01/2052 |  | 13500 |  | 8602 |
|  3.950% due 06/30/2062 |  | 2200 |  | 1294 |
|  4.800% due 03/01/2050 |  | 5400 |  | 3995 |
|  5.125% due 07/01/2049 |  | 17200 |  | 13217 |
|  5.375% due 05/01/2047 |  | 6985 |  | 5626 |
|  5.750% due 04/01/2048 |  | 15890 |  | 13262 |
|  5.850% due 12/01/2035 (o) |  | 7500 |  | 7381 |
|  6.100% due 06/01/2029 |  | 129 |  | 134 |
|  Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC | Cheniere Corpus Christi Holdings LLC |
|  2.742% due 12/31/2039 |  | 5200 |  | 4400 |
|  3.700% due 11/15/2029 |  | 47030 |  | 45707 |
|  5.125% due 06/30/2027 |  | 15000 |  | 15081 |
|  Cheniere Energy Partners LP | Cheniere Energy Partners LP | Cheniere Energy Partners LP | Cheniere Energy Partners LP | Cheniere Energy Partners LP |
|  5.550% due 10/30/2035 |  | 5000 |  | 5094 |
|  5.750% due 08/15/2034 |  | 6200 |  | 6391 |
|  Choice Hotels International, Inc. | Choice Hotels International, Inc. | Choice Hotels International, Inc. | Choice Hotels International, Inc. | Choice Hotels International, Inc. |
|  3.700% due 12/01/2029 |  | 2537 |  | 2434 |
|  5.850% due 08/01/2034 |  | 2350 |  | 2374 |
|  Chord Energy Corp. | Chord Energy Corp. | Chord Energy Corp. | Chord Energy Corp. | Chord Energy Corp. |
|  6.750% due 03/15/2033 |  | 1200 |  | 1240 |
|  CHS/Community Health Systems, Inc. | CHS/Community Health Systems, Inc. | CHS/Community Health Systems, Inc. | CHS/Community Health Systems, Inc. | CHS/Community Health Systems, Inc. |
|  4.750% due 02/15/2031 |  | 4900 |  | 4520 |
|  6.000% due 01/15/2029 |  | 1200 |  | 1188 |
|  Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. |
|  2.800% due 01/15/2051 |  | 22300 |  | 12771 |
|  CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
|  4.352% due 09/01/2030 |  | 6400 |  | 6308 |
|  4.975% due 09/01/2035 |  | 1600 |  | 1562 |
|  Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
|  1.375% due 11/01/2027 |  | 400 |  | 380 |
|  4.850% due 11/01/2028 |  | 9545 |  | 9556 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  3.700% due 12/06/2026 |  | 1008 |  | 1004 |
|  4.800% due 01/15/2029 |  | 1098 |  | 1105 |
|  Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. | Constellation Pharmaceutical, Inc. |
|  5.550% due 07/01/2033 «(m) |  | 4762 |  | 4879 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Coterra Energy, Inc. | Coterra Energy, Inc. | Coterra Energy, Inc. |
|  5.600% due 03/15/2034 | 2315 | 2370 |
|  Crowdstrike Holdings, Inc. | Crowdstrike Holdings, Inc. | Crowdstrike Holdings, Inc. |
|  3.000% due 02/15/2029 | 9400 | 8948 |
|  Crown Castle Towers LLC | Crown Castle Towers LLC | Crown Castle Towers LLC |
|  4.241% due 07/15/2048 | 11900 | 11829 |
|  CSL Finance PLC | CSL Finance PLC | CSL Finance PLC |
|  4.050% due 04/27/2029 | 4500 | 4442 |
|  CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
|  3.000% due 08/15/2026 | 375 | 373 |
|  4.780% due 03/25/2038 | 3850 | 3550 |
|  5.000% due 01/30/2029 | 18400 | 18643 |
|  5.050% due 03/25/2048 | 18900 | 16227 |
|  5.450% due 09/15/2035 | 9300 | 9339 |
|  5.700% due 06/01/2034 | 5300 | 5448 |
|  5.875% due 06/01/2053 | 15090 | 14302 |
|  6.000% due 06/01/2044 | 1724 | 1698 |
|  6.050% due 06/01/2054 | 3200 | 3107 |
|  CVS Pass-Through Trust | CVS Pass-Through Trust | CVS Pass-Through Trust |
|  4.163% due 08/11/2036 | 249 | 233 |
|  5.926% due 01/10/2034 | 254 | 259 |
|  6.036% due 12/10/2028 | 1766 | 1783 |
|  8.353% due 07/10/2031 | 211 | 229 |
|  DAE Funding LLC | DAE Funding LLC | DAE Funding LLC |
|  3.375% due 03/20/2028 | 6300 | 6068 |
|  Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. |
|  4.900% due 10/01/2026 | 6050 | 6059 |
|  Delta Air Lines, Inc. | Delta Air Lines, Inc. | Delta Air Lines, Inc. |
|  3.750% due 10/28/2029 | 2500 | 2408 |
|  Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. |
|  5.400% due 04/18/2034 | 7412 | 7527 |
|  5.750% due 04/18/2054 | 7077 | 6697 |
|  5.900% due 04/18/2064 | 800 | 758 |
|  Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. |
|  5.141% due 03/15/2052 | 392 | 239 |
|  DISH DBS Corp. | DISH DBS Corp. | DISH DBS Corp. |
|  5.250% due 12/01/2026 | 750 | 744 |
|  DT Midstream, Inc. | DT Midstream, Inc. | DT Midstream, Inc. |
|  5.800% due 12/15/2034 | 2400 | 2466 |
|  Eastern Gas Transmission & Storage, Inc. | Eastern Gas Transmission & Storage, Inc. | Eastern Gas Transmission & Storage, Inc. |
|  3.000% due 11/15/2029 | 3250 | 3079 |
|  3.900% due 11/15/2049 | 3700 | 2710 |
|  eBay, Inc. | eBay, Inc. | eBay, Inc. |
|  3.600% due 06/05/2027 | 1640 | 1626 |
|  Edwards Lifesciences Corp. | Edwards Lifesciences Corp. | Edwards Lifesciences Corp. |
|  4.300% due 06/15/2028 | 4700 | 4696 |
|  Elevance Health, Inc. | Elevance Health, Inc. | Elevance Health, Inc. |
|  3.650% due 12/01/2027 | 5900 | 5834 |
|  5.200% due 02/15/2035 | 1700 | 1698 |
|  Eli Lilly & Co. | Eli Lilly & Co. | Eli Lilly & Co. |
|  4.600% due 08/14/2034 | 7400 | 7328 |
|  Embraer Netherlands Finance BV | Embraer Netherlands Finance BV | Embraer Netherlands Finance BV |
|  5.980% due 02/11/2035 | 1000 | 1033 |
|  Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
|  2.500% due 08/01/2033 | 14800 | 12581 |
|  3.125% due 11/15/2029 | 1622 | 1546 |
|  4.200% due 11/20/2028 | 553 | 549 |
|  4.250% due 12/01/2026 | 3300 | 3299 |
|  5.200% due 11/20/2035 | 1199 | 1196 |
|  5.625% due 04/05/2034 | 4666 | 4815 |
|  5.700% due 03/08/2033 | 9600 | 9948 |
|  Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
|  3.900% due 07/15/2026 | 5861 | 5855 |
|  4.550% due 01/15/2031 | 10000 | 9913 |
|  4.950% due 06/15/2028 | 6200 | 6265 |
|  5.000% due 05/15/2050 | 1000 | 830 |
|  5.350% due 05/15/2045 | 2600 | 2327 |
|  5.550% due 02/15/2028 | 300 | 306 |
|  5.600% due 09/01/2034 | 10298 | 10499 |
|  5.700% due 04/01/2035 | 7900 | 8117 |
|  5.750% due 02/15/2033 | 4600 | 4786 |
|  5.800% due 06/15/2038 | 6230 | 6317 |
|  5.950% due 05/15/2054 | 9000 | 8447 |
|  6.050% due 09/01/2054 | 19625 | 18703 |
|  6.500% due 02/01/2042 | 3600 | 3756 |
|  6.625% due 10/15/2036 | 206 | 223 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  7.500% due 07/01/2038 | $— | 4302 | $— | 4946 |
|  Eni SpA | Eni SpA | Eni SpA | Eni SpA | Eni SpA |
|  5.950% due 05/15/2054 |  | 9200 |  | 9160 |
|  Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
|  3.050% due 06/01/2031 |  | 4000 |  | 3729 |
|  3.120% due 09/01/2027 |  | 4300 |  | 4239 |
|  5.150% due 09/15/2034 |  | 9100 |  | 9171 |
|  5.350% due 03/15/2034 |  | 3267 |  | 3360 |
|  Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC |
|  4.450% due 02/15/2043 |  | 5000 |  | 4325 |
|  4.950% due 02/15/2035 |  | 7900 |  | 7880 |
|  5.200% due 01/15/2036 |  | 18600 |  | 18709 |
|  5.700% due 02/15/2042 |  | 2002 |  | 2006 |
|  6.900% (TSFR3M + 3.248%) due 08/16/2077 ~ |  | 7651 |  | 7648 |
|  EQT Corp. | EQT Corp. | EQT Corp. | EQT Corp. | EQT Corp. |
|  4.500% due 01/15/2029 |  | 1239 |  | 1236 |
|  4.750% due 01/15/2031 |  | 6300 |  | 6270 |
|  5.750% due 02/01/2034 |  | 3100 |  | 3197 |
|  Essent Group Ltd. | Essent Group Ltd. | Essent Group Ltd. | Essent Group Ltd. | Essent Group Ltd. |
|  6.250% due 07/01/2029 |  | 6282 |  | 6502 |
|  Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. |
|  5.700% due 01/15/2035 |  | 16900 |  | 17172 |
|  6.750% due 04/15/2029 |  | 1261 |  | 1262 |
|  FactSet Research Systems, Inc. | FactSet Research Systems, Inc. | FactSet Research Systems, Inc. | FactSet Research Systems, Inc. | FactSet Research Systems, Inc. |
|  2.900% due 03/01/2027 |  | 10000 |  | 9832 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 |  | 2000 |  | 1967 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.450% due 03/10/2028 |  | 9700 |  | 9676 |
|  4.550% due 03/10/2029 |  | 13500 |  | 13440 |
|  FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. |
|  3.600% due 06/01/2029 |  | 1020 |  | 991 |
|  6.150% due 10/01/2038 |  | 1600 |  | 1681 |
|  Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. |
|  3.500% due 07/01/2029 |  | 3000 |  | 2875 |
|  4.200% due 10/01/2028 |  | 4905 |  | 4850 |
|  5.250% due 08/11/2035 |  | 31000 |  | 30161 |
|  Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC |
|  3.363% due 06/30/2031 |  | 36900 |  | 33615 |
|  Flex Ltd. | Flex Ltd. | Flex Ltd. | Flex Ltd. | Flex Ltd. |
|  4.875% due 06/15/2029 |  | 8100 |  | 8136 |
|  5.250% due 01/15/2032 |  | 3400 |  | 3415 |
|  Fox Corp. | Fox Corp. | Fox Corp. | Fox Corp. | Fox Corp. |
|  4.709% due 01/25/2029 |  | 4895 |  | 4908 |
|  6.500% due 10/13/2033 |  | 2145 |  | 2303 |
|  Freeport Minerals Corp. | Freeport Minerals Corp. | Freeport Minerals Corp. | Freeport Minerals Corp. | Freeport Minerals Corp. |
|  9.500% due 06/01/2031 |  | 200 |  | 238 |
|  Gartner, Inc. | Gartner, Inc. | Gartner, Inc. | Gartner, Inc. | Gartner, Inc. |
|  3.625% due 06/15/2029 |  | 3700 |  | 3482 |
|  4.950% due 03/20/2031 |  | 6450 |  | 6295 |
|  5.600% due 11/20/2035 |  | 8000 |  | 7594 |
|  GC Treasury Center Co. Ltd. | GC Treasury Center Co. Ltd. | GC Treasury Center Co. Ltd. | GC Treasury Center Co. Ltd. | GC Treasury Center Co. Ltd. |
|  6.500% due 09/10/2030 •(j) |  | 2800 |  | 2724 |
|  7.125% due 03/10/2035 •(j) |  | 1300 |  | 1265 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  3.200% due 08/15/2029 |  | 6072 |  | 5729 |
|  4.550% due 03/15/2028 |  | 2900 |  | 2888 |
|  4.875% due 11/15/2030 |  | 8500 |  | 8352 |
|  4.875% due 03/17/2031 |  | 1300 |  | 1531 |
|  5.200% due 11/15/2032 | $— | 18300 |  | 17774 |
|  Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL |
|  5.853% due 02/23/2036 |  | 1200 |  | 1206 |
|  6.103% due 08/23/2042 |  | 8000 |  | 7970 |
|  6.129% due 02/23/2038 |  | 1700 |  | 1723 |
|  Grifols SA | Grifols SA | Grifols SA | Grifols SA | Grifols SA |
|  7.500% due 05/01/2030 (m) |  | 8000 |  | 9590 |
|  GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. |
|  5.375% due 06/15/2036 |  | 12300 |  | 14119 |
|  Haleon U.S. Capital LLC | Haleon U.S. Capital LLC | Haleon U.S. Capital LLC | Haleon U.S. Capital LLC | Haleon U.S. Capital LLC |
|  3.375% due 03/24/2027 | $— | 4802 |  | 4757 |
|  3.375% due 03/24/2029 |  | 1700 |  | 1655 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  3.500% due 09/01/2030 |  | 7400 |  | 7030 |
|  3.500% due 07/15/2051 |  | 4500 |  | 2981 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **87** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.625% due 03/15/2032 | $— | 2700 | $— | 2510 |
|  4.125% due 06/15/2029 |  | 6800 |  | 6707 |
|  4.300% due 11/15/2030 |  | 700 |  | 689 |
|  5.250% due 03/01/2030 |  | 2925 |  | 2987 |
|  5.450% due 09/15/2034 |  | 1100 |  | 1111 |
|  5.500% due 06/01/2033 |  | 19000 |  | 19387 |
|  5.625% due 09/01/2028 |  | 9912 |  | 10112 |
|  5.750% due 03/01/2035 |  | 16406 |  | 16874 |
|  5.875% due 02/01/2029 |  | 1500 |  | 1544 |
|  5.900% due 06/01/2053 |  | 200 |  | 191 |
|  5.950% due 09/15/2054 |  | 3000 |  | 2888 |
|  Heathrow Finance PLC | Heathrow Finance PLC | Heathrow Finance PLC | Heathrow Finance PLC | Heathrow Finance PLC |
|  4.125% due 09/01/2029 þ |  | 3200 |  | 3959 |
|  Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. |
|  6.450% due 12/10/2033 |  | 2100 |  | 2902 |
|  HEICO Corp. | HEICO Corp. | HEICO Corp. | HEICO Corp. | HEICO Corp. |
|  5.250% due 08/01/2028 | $— | 2000 |  | 2039 |
|  5.350% due 08/01/2033 |  | 1900 |  | 1936 |
|  Hess Corp. | Hess Corp. | Hess Corp. | Hess Corp. | Hess Corp. |
|  7.875% due 10/01/2029 |  | 3600 |  | 4025 |
|  Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. |
|  4.500% due 03/23/2028 |  | 7350 |  | 7352 |
|  4.600% due 03/23/2029 |  | 7350 |  | 7345 |
|  Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. |
|  5.750% due 09/15/2033 |  | 2400 |  | 2391 |
|  Howard Midstream Energy Partners LLC | Howard Midstream Energy Partners LLC | Howard Midstream Energy Partners LLC | Howard Midstream Energy Partners LLC | Howard Midstream Energy Partners LLC |
|  6.625% due 01/15/2034 |  | 400 |  | 402 |
|  Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries, Inc. |
|  5.353% due 01/15/2030 |  | 500 |  | 510 |
|  Hyatt Hotels Corp. | Hyatt Hotels Corp. | Hyatt Hotels Corp. | Hyatt Hotels Corp. | Hyatt Hotels Corp. |
|  5.050% due 03/30/2028 |  | 3000 |  | 3026 |
|  5.375% due 12/15/2031 |  | 4700 |  | 4759 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  1.500% due 06/15/2026 |  | 11500 |  | 11431 |
|  4.250% due 01/08/2029 |  | 9300 |  | 9200 |
|  4.590% (SOFRRATE + 0.920%) due 01/07/2028 ~ |  | 1000 |  | 995 |
|  4.600% due 04/06/2028 (b) |  | 26100 |  | 26101 |
|  4.850% due 03/25/2027 |  | 4000 |  | 4015 |
|  Illumina, Inc. | Illumina, Inc. | Illumina, Inc. | Illumina, Inc. | Illumina, Inc. |
|  4.650% due 09/09/2026 |  | 1300 |  | 1300 |
|  Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV |
|  5.250% due 02/15/2031 |  | 1000 |  | 1220 |
|  Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC |
|  6.125% due 07/27/2027 | $— | 6000 |  | 6123 |
|  Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. |
|  3.875% due 08/15/2050 |  | 6500 |  | 4732 |
|  IQVIA, Inc. | IQVIA, Inc. | IQVIA, Inc. | IQVIA, Inc. | IQVIA, Inc. |
|  5.700% due 05/15/2028 |  | 1988 |  | 2028 |
|  IRB Infrastructure Developers Ltd. | IRB Infrastructure Developers Ltd. | IRB Infrastructure Developers Ltd. | IRB Infrastructure Developers Ltd. | IRB Infrastructure Developers Ltd. |
|  7.110% due 03/11/2032 |  | 3000 |  | 3014 |
|  Jabil, Inc. | Jabil, Inc. | Jabil, Inc. | Jabil, Inc. | Jabil, Inc. |
|  5.450% due 02/01/2029 |  | 2200 |  | 2244 |
|  JDE Peet's NV | JDE Peet's NV | JDE Peet's NV | JDE Peet's NV | JDE Peet's NV |
|  4.500% due 01/23/2034 |  | 3700 |  | 4283 |
|  JetBlue Airways Corp./JetBlue Loyalty LP | JetBlue Airways Corp./JetBlue Loyalty LP | JetBlue Airways Corp./JetBlue Loyalty LP | JetBlue Airways Corp./JetBlue Loyalty LP | JetBlue Airways Corp./JetBlue Loyalty LP |
|  9.875% due 09/20/2031 | $— | 19000 |  | 17982 |
|  JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust |
|  2.750% due 11/15/2033 |  | 5874 |  | 5218 |
|  Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. |
|  5.100% due 03/15/2027 |  | 2200 |  | 2209 |
|  Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP |
|  7.300% due 08/15/2033 |  | 5726 |  | 6467 |
|  7.400% due 03/15/2031 |  | 500 |  | 560 |
|  7.500% due 11/15/2040 |  | 5500 |  | 6403 |
|  Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. |
|  3.600% due 02/15/2051 |  | 2000 |  | 1386 |
|  5.200% due 06/01/2033 |  | 6706 |  | 6820 |
|  5.300% due 12/01/2034 |  | 1000 |  | 1008 |
|  7.750% due 01/15/2032 |  | 14439 |  | 16562 |
|  Kodiak Gas Services LLC | Kodiak Gas Services LLC | Kodiak Gas Services LLC | Kodiak Gas Services LLC | Kodiak Gas Services LLC |
|  7.250% due 02/15/2029 |  | 800 |  | 829 |
|  Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
|  5.000% due 06/04/2042 |  | 2400 |  | 2112 |
|  6.500% due 02/09/2040 |  | 1258 |  | 1318 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.875% due 01/26/2039 | $— | 13500 | $— | 14607 |
|  7.125% due 08/01/2039 |  | 7120 |  | 7784 |
|  L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
|  5.050% due 06/01/2029 |  | 300 |  | 305 |
|  Laboratory Corp. of America Holdings | Laboratory Corp. of America Holdings | Laboratory Corp. of America Holdings | Laboratory Corp. of America Holdings | Laboratory Corp. of America Holdings |
|  4.350% due 04/01/2030 |  | 1389 |  | 1377 |
|  Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. |
|  3.900% due 08/08/2029 |  | 4050 |  | 3905 |
|  5.625% due 06/15/2028 |  | 8600 |  | 8714 |
|  6.000% due 08/15/2029 |  | 57275 |  | 58882 |
|  6.000% due 06/14/2030 |  | 5646 |  | 5810 |
|  6.200% due 08/15/2034 |  | 30485 |  | 31254 |
|  Leidos, Inc. | Leidos, Inc. | Leidos, Inc. | Leidos, Inc. | Leidos, Inc. |
|  2.300% due 02/15/2031 |  | 16623 |  | 14799 |
|  4.375% due 05/15/2030 |  | 3295 |  | 3243 |
|  Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 |
|  2.050% due 09/15/2030 |  | 2500 |  | 2247 |
|  Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. |
|  3.750% due 01/15/2028 |  | 15841 |  | 15462 |
|  Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. |
|  4.300% due 06/15/2062 |  | 9400 |  | 7334 |
|  4.800% due 08/15/2034 |  | 4516 |  | 4514 |
|  Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. |
|  4.750% due 03/26/2029 |  | 4200 |  | 4200 |
|  Marathon Petroleum Corp. | Marathon Petroleum Corp. | Marathon Petroleum Corp. | Marathon Petroleum Corp. | Marathon Petroleum Corp. |
|  5.150% due 03/01/2030 |  | 3100 |  | 3163 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  3.500% due 10/15/2032 |  | 9700 |  | 8925 |
|  4.200% due 07/15/2027 |  | 1239 |  | 1238 |
|  4.500% due 10/01/2034 |  | 6099 |  | 5745 |
|  4.625% due 06/15/2030 |  | 4984 |  | 4986 |
|  5.250% due 10/15/2035 |  | 1700 |  | 1692 |
|  Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. |
|  5.200% due 03/01/2035 |  | 4300 |  | 4342 |
|  5.650% due 05/01/2045 |  | 8300 |  | 8201 |
|  Marvell Technology, Inc. | Marvell Technology, Inc. | Marvell Technology, Inc. | Marvell Technology, Inc. | Marvell Technology, Inc. |
|  1.650% due 04/15/2026 |  | 7676 |  | 7668 |
|  Massachusetts Institute of Technology | Massachusetts Institute of Technology | Massachusetts Institute of Technology | Massachusetts Institute of Technology | Massachusetts Institute of Technology |
|  4.678% due 07/01/2114 |  | 150 |  | 123 |
|  McCormick & Co., Inc. | McCormick & Co., Inc. | McCormick & Co., Inc. | McCormick & Co., Inc. | McCormick & Co., Inc. |
|  4.150% due 02/15/2029 |  | 7400 |  | 7330 |
|  McDonald's Corp. | McDonald's Corp. | McDonald's Corp. | McDonald's Corp. | McDonald's Corp. |
|  2.625% due 09/01/2029 |  | 4350 |  | 4125 |
|  4.600% due 05/15/2030 |  | 1070 |  | 1080 |
|  5.000% due 05/17/2029 |  | 4519 |  | 4623 |
|  Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
|  3.850% due 08/15/2032 |  | 1788 |  | 1707 |
|  4.600% due 11/15/2032 |  | 1769 |  | 1752 |
|  4.750% due 08/15/2034 |  | 2100 |  | 2078 |
|  5.500% due 11/15/2045 |  | 720 |  | 682 |
|  5.550% due 08/15/2064 |  | 3500 |  | 3149 |
|  Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. |
|  5.050% due 02/15/2030 |  | 3200 |  | 3229 |
|  Micron Technology, Inc. | Micron Technology, Inc. | Micron Technology, Inc. | Micron Technology, Inc. | Micron Technology, Inc. |
|  5.300% due 01/15/2031 |  | 2100 |  | 2199 |
|  Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC |
|  4.315% (SONIO/N + 0.569%) due 12/15/2030 ~ |  | 308 |  | 399 |
|  Motorola Solutions, Inc. | Motorola Solutions, Inc. | Motorola Solutions, Inc. | Motorola Solutions, Inc. | Motorola Solutions, Inc. |
|  2.300% due 11/15/2030 | $— | 300 |  | 271 |
|  4.600% due 05/23/2029 |  | 888 |  | 889 |
|  MPLX LP | MPLX LP | MPLX LP | MPLX LP | MPLX LP |
|  4.125% due 03/01/2027 |  | 1000 |  | 998 |
|  4.900% due 04/15/2058 |  | 2600 |  | 2114 |
|  4.950% due 03/14/2052 |  | 4100 |  | 3407 |
|  5.400% due 04/01/2035 |  | 21500 |  | 21489 |
|  MSCI, Inc. | MSCI, Inc. | MSCI, Inc. | MSCI, Inc. | MSCI, Inc. |
|  3.250% due 08/15/2033 |  | 10400 |  | 9065 |
|  3.875% due 02/15/2031 |  | 1500 |  | 1419 |
|  National Football League | National Football League | National Football League | National Football League | National Football League |
|  5.250% due 10/05/2034 «(m) |  | 19400 |  | 19343 |
|  5.420% due 10/05/2037 «(m) |  | 6900 |  | 6882 |
|  National Grid Electricity Transmission PLC | National Grid Electricity Transmission PLC | National Grid Electricity Transmission PLC | National Grid Electricity Transmission PLC | National Grid Electricity Transmission PLC |
|  2.000% due 04/17/2040 |  | 1400 |  | 1126 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Netflix, Inc. | Netflix, Inc. | Netflix, Inc. |
|  3.875% due 11/15/2029 | 11800 | 13864 |
|  4.875% due 06/15/2030 | 900 | 913 |
|  Newcastle Coal Infrastructure Group Pty. Ltd. | Newcastle Coal Infrastructure Group Pty. Ltd. | Newcastle Coal Infrastructure Group Pty. Ltd. |
|  4.400% due 09/29/2027 | 2022 | 2009 |
|  Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. |
|  4.345% due 09/17/2027 | 12810 | 12471 |
|  Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
|  4.100% due 05/15/2121 | 4200 | 2842 |
|  NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. |
|  5.171% due 07/16/2032 | 15300 | 15416 |
|  NVR, Inc. | NVR, Inc. | NVR, Inc. |
|  3.000% due 05/15/2030 | 35314 | 33262 |
|  NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. |
|  3.875% due 06/18/2026 | 6700 | 6691 |
|  4.300% due 08/19/2028 | 300 | 299 |
|  Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
|  6.200% due 03/15/2040 | 3460 | 3536 |
|  6.625% due 09/01/2030 | 7111 | 7650 |
|  8.875% due 07/15/2030 | 17067 | 19436 |
|  ONEOK Partners LP | ONEOK Partners LP | ONEOK Partners LP |
|  6.125% due 02/01/2041 | 373 | 379 |
|  6.200% due 09/15/2043 | 3450 | 3457 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  2.300% due 03/25/2028 | 3200 | 3049 |
|  2.875% due 03/25/2031 | 13900 | 12349 |
|  3.950% due 03/25/2051 | 5300 | 3361 |
|  4.000% due 07/15/2046 | 11000 | 7416 |
|  4.000% due 11/15/2047 | 3700 | 2451 |
|  4.100% due 03/25/2061 | 16600 | 10215 |
|  4.900% due 02/06/2033 | 4300 | 4077 |
|  5.200% due 09/26/2035 (o) | 10000 | 9385 |
|  5.500% due 08/03/2035 | 24100 | 23019 |
|  5.500% due 09/27/2064 | 21900 | 16787 |
|  6.000% due 08/03/2055 | 7300 | 6126 |
|  Paramount Global | Paramount Global | Paramount Global |
|  3.700% due 06/01/2028 | 4100 | 3967 |
|  6.875% due 04/30/2036 | 9000 | 7899 |
|  Pennsylvania-American Water Co. | Pennsylvania-American Water Co. | Pennsylvania-American Water Co. |
|  7.800% due 09/01/2026 | 600 | 608 |
|  Permian Resources Operating LLC | Permian Resources Operating LLC | Permian Resources Operating LLC |
|  6.250% due 02/01/2033 | 5600 | 5708 |
|  Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
|  6.700% due 02/16/2032 | 15851 | 15526 |
|  Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. |
|  3.375% due 08/15/2029 | 6100 | 5913 |
|  4.375% due 04/30/2030 | 1860 | 1851 |
|  5.250% due 09/07/2028 | 358 | 367 |
|  5.250% due 02/13/2034 | 7900 | 8048 |
|  5.375% due 02/15/2033 | 6000 | 6170 |
|  5.625% due 11/17/2029 | 14714 | 15298 |
|  5.750% due 11/17/2032 | 11500 | 12111 |
|  Phillips 66 Co. | Phillips 66 Co. | Phillips 66 Co. |
|  4.680% due 02/15/2045 | 841 | 711 |
|  Pioneer Natural Resources Co. | Pioneer Natural Resources Co. | Pioneer Natural Resources Co. |
|  7.200% due 01/15/2028 | 4497 | 4705 |
|  Plains All American Pipeline LP | Plains All American Pipeline LP | Plains All American Pipeline LP |
|  5.950% due 06/15/2035 | 4200 | 4339 |
|  Qatarenergy LNG S3 | Qatarenergy LNG S3 | Qatarenergy LNG S3 |
|  5.838% due 09/30/2027 | 237 | 237 |
|  Quanta Services, Inc. | Quanta Services, Inc. | Quanta Services, Inc. |
|  2.350% due 01/15/2032 | 6000 | 5229 |
|  RELX Capital, Inc. | RELX Capital, Inc. | RELX Capital, Inc. |
|  3.000% due 05/22/2030 | 3000 | 2826 |
|  4.000% due 03/18/2029 | 300 | 297 |
|  Renesas Electronics Corp. | Renesas Electronics Corp. | Renesas Electronics Corp. |
|  2.170% due 11/25/2026 | 3200 | 3151 |
|  Republic Services, Inc. | Republic Services, Inc. | Republic Services, Inc. |
|  5.000% due 04/01/2034 | 275 | 278 |
|  Roche Holdings, Inc. | Roche Holdings, Inc. | Roche Holdings, Inc. |
|  4.075% due 12/02/2030 | 500 | 494 |
|  Rogers Communications, Inc. | Rogers Communications, Inc. | Rogers Communications, Inc. |
|  3.200% due 03/15/2027 | 2000 | 1976 |
|  4.500% due 03/15/2042 | 628 | 530 |
|  5.000% due 02/15/2029 | 605 | 611 |

---

---

| | | |
|:---|:---|:---|
| **88** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Roper Technologies, Inc. | Roper Technologies, Inc. | Roper Technologies, Inc. |
|  4.250% due 09/15/2028 | 190 | 189 |
|  Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. |
|  3.700% due 03/15/2028 | 6700 | 6595 |
|  5.375% due 01/15/2036 | 7500 | 7371 |
|  5.500% due 04/01/2028 | 15200 | 15377 |
|  5.625% due 09/30/2031 | 3700 | 3737 |
|  Royalty Pharma PLC | Royalty Pharma PLC | Royalty Pharma PLC |
|  1.750% due 09/02/2027 | 5000 | 4821 |
|  2.200% due 09/02/2030 | 1150 | 1036 |
|  RTX Corp. | RTX Corp. | RTX Corp. |
|  5.375% due 02/27/2053 | 8300 | 7800 |
|  6.100% due 03/15/2034 | 15900 | 17128 |
|  7.200% due 08/15/2027 | 125 | 130 |
|  S&P Global, Inc. | S&P Global, Inc. | S&P Global, Inc. |
|  4.250% due 05/01/2029 | 5542 | 5531 |
|  Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC |
|  4.500% due 05/15/2030 | 6500 | 6455 |
|  5.000% due 03/15/2027 | 1000 | 1002 |
|  Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. |
|  3.649% due 04/29/2031 | 23300 | 21821 |
|  5.250% due 03/13/2029 | 5000 | 5042 |
|  6.875% due 09/19/2033 | 17900 | 19505 |
|  Saudi Arabian Oil Co. | Saudi Arabian Oil Co. | Saudi Arabian Oil Co. |
|  2.250% due 11/24/2030 | 1000 | 883 |
|  5.250% due 07/17/2034 (o) | 2400 | 2394 |
|  Schlumberger Holdings Corp. | Schlumberger Holdings Corp. | Schlumberger Holdings Corp. |
|  5.000% due 06/01/2034 | 6900 | 6903 |
|  Seadrill Finance Ltd. | Seadrill Finance Ltd. | Seadrill Finance Ltd. |
|  8.375% due 08/01/2030 | 400 | 414 |
|  Sekisui House U.S., Inc. | Sekisui House U.S., Inc. | Sekisui House U.S., Inc. |
|  3.966% due 08/06/2061 | 200 | 132 |
|  Smith & Nephew PLC | Smith & Nephew PLC | Smith & Nephew PLC |
|  5.150% due 03/20/2027 | 1500 | 1508 |
|  Smithfield Foods, Inc. | Smithfield Foods, Inc. | Smithfield Foods, Inc. |
|  4.250% due 02/01/2027 | 1000 | 995 |
|  South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC |
|  5.584% due 10/01/2034 | 5057 | 5025 |
|  South West Water Finance PLC | South West Water Finance PLC | South West Water Finance PLC |
|  5.750% due 12/11/2032 | 6650 | 8802 |
|  Southern Co. | Southern Co. | Southern Co. |
|  4.850% due 03/15/2035 | 13400 | 13041 |
|  Spirit AeroSystems, Inc. | Spirit AeroSystems, Inc. | Spirit AeroSystems, Inc. |
|  3.850% due 06/15/2026 | 3800 | 3792 |
|  4.600% due 06/15/2028 | 16831 | 16848 |
|  Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust |
|  3.375% due 08/15/2031 | 230 | 216 |
|  3.650% due 08/15/2031 | 749 | 686 |
|  4.100% due 10/01/2029 | 1931 | 1897 |
|  Starbucks Corp. | Starbucks Corp. | Starbucks Corp. |
|  4.500% due 05/15/2028 | 2345 | 2350 |
|  4.800% due 05/15/2030 | 1700 | 1722 |
|  Stonepeak Nile Parent LLC | Stonepeak Nile Parent LLC | Stonepeak Nile Parent LLC |
|  7.250% due 03/15/2032 | 100 | 104 |
|  Stryker Corp. | Stryker Corp. | Stryker Corp. |
|  1.950% due 06/15/2030 | 21099 | 19047 |
|  4.250% due 09/11/2029 | 630 | 628 |
|  4.625% due 09/11/2034 | 6300 | 6153 |
|  4.850% due 12/08/2028 | 8000 | 8122 |
|  4.850% due 02/10/2030 | 8500 | 8618 |
|  5.200% due 02/10/2035 | 1600 | 1621 |
|  Synopsys, Inc. | Synopsys, Inc. | Synopsys, Inc. |
|  4.550% due 04/01/2027 | 7500 | 7507 |
|  4.850% due 04/01/2030 | 1400 | 1411 |
|  5.150% due 04/01/2035 | 10000 | 10023 |
|  Synthos SA | Synthos SA | Synthos SA |
|  2.500% due 06/07/2028 (o) | 5760 | 6151 |
|  Sysco Corp. | Sysco Corp. | Sysco Corp. |
|  5.100% due 09/23/2030 | 2169 | 2187 |
|  5.950% due 04/01/2030 | 4400 | 4571 |
|  T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
|  2.050% due 02/15/2028 | 10500 | 10075 |
|  2.550% due 02/15/2031 (o) | 16800 | 15271 |
|  2.625% due 02/15/2029 | 600 | 571 |
|  3.000% due 02/15/2041 | 32700 | 23924 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.300% due 02/15/2051 | $— | 40000 | 26203 |
|  3.600% due 11/15/2060 |  | 700 | 455 |
|  3.875% due 04/15/2030 |  | 18637 | 18155 |
|  5.050% due 07/15/2033 |  | 2000 | 2014 |
|  5.250% due 06/15/2055 |  | 20500 | 18248 |
|  5.700% due 01/15/2056 |  | 5000 | 4760 |
|  5.750% due 01/15/2054 |  | 200 | 192 |
|  Tapestry, Inc. | Tapestry, Inc. | Tapestry, Inc. | Tapestry, Inc. |
|  5.100% due 03/11/2030 |  | 6500 | 6570 |
|  5.500% due 03/11/2035 |  | 7100 | 7116 |
|  Targa Resources Corp. | Targa Resources Corp. | Targa Resources Corp. | Targa Resources Corp. |
|  4.200% due 02/01/2033 |  | 4000 | 3789 |
|  4.950% due 04/15/2052 |  | 3000 | 2514 |
|  6.150% due 03/01/2029 |  | 7704 | 8028 |
|  TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. |
|  2.375% due 08/09/2028 |  | 14300 | 13579 |
|  2.650% due 08/09/2031 |  | 8700 | 7734 |
|  TDF Infrastructure SAS | TDF Infrastructure SAS | TDF Infrastructure SAS | TDF Infrastructure SAS |
|  1.750% due 12/01/2029 |  | 1100 | 1176 |
|  Telefonica Emisiones SA | Telefonica Emisiones SA | Telefonica Emisiones SA | Telefonica Emisiones SA |
|  4.103% due 03/08/2027 | $— | 4800 | 4781 |
|  Teva Pharmaceutical Finance Netherlands III BV | Teva Pharmaceutical Finance Netherlands III BV | Teva Pharmaceutical Finance Netherlands III BV | Teva Pharmaceutical Finance Netherlands III BV |
|  8.125% due 09/15/2031 |  | 575 | 643 |
|  Textron, Inc. | Textron, Inc. | Textron, Inc. | Textron, Inc. |
|  3.650% due 03/15/2027 |  | 2500 | 2483 |
|  Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC |
|  9.750% due 10/10/2027 |  | 2604 | 3767 |
|  Time Warner Cable LLC | Time Warner Cable LLC | Time Warner Cable LLC | Time Warner Cable LLC |
|  4.500% due 09/15/2042 | $— | 4000 | 3017 |
|  Times Square Hotel Trust | Times Square Hotel Trust | Times Square Hotel Trust | Times Square Hotel Trust |
|  8.528% due 08/01/2026 |  | 39 | 40 |
|  Transcontinental Gas Pipe Line Co. LLC | Transcontinental Gas Pipe Line Co. LLC | Transcontinental Gas Pipe Line Co. LLC | Transcontinental Gas Pipe Line Co. LLC |
|  3.250% due 05/15/2030 |  | 2900 | 2758 |
|  5.100% due 03/15/2036 |  | 800 | 793 |
|  Transurban Finance Co. Pty. Ltd. | Transurban Finance Co. Pty. Ltd. | Transurban Finance Co. Pty. Ltd. | Transurban Finance Co. Pty. Ltd. |
|  2.450% due 03/16/2031 |  | 2850 | 2576 |
|  Turkish Airlines Pass-Through Trust | Turkish Airlines Pass-Through Trust | Turkish Airlines Pass-Through Trust | Turkish Airlines Pass-Through Trust |
|  4.200% due 09/15/2028 |  | 643 | 635 |
|  Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. |
|  5.400% due 03/15/2029 |  | 500 | 513 |
|  Ubisoft Entertainment SA | Ubisoft Entertainment SA | Ubisoft Entertainment SA | Ubisoft Entertainment SA |
|  0.878% due 11/24/2027 |  | 600 | 560 |
|  Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) | Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) | Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) | Unigel Luxembourg SA (11.000% Cash or 12.000% PIK) |
|  11.000% due 12/31/2028 (c) | $— | 3152 | 95 |
|  Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) | Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) | Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) | Unigel Luxembourg SA (13.500% Cash or 15.000% PIK) |
|  13.500% due 12/31/2027 ^(c)(d) |  | 1449 | 87 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 |  | 731 | 674 |
|  2.875% due 04/07/2030 |  | 13152 | 12700 |
|  3.100% due 01/07/2030 |  | 802 | 782 |
|  3.100% due 04/07/2030 |  | 3071 | 2945 |
|  3.450% due 01/07/2030 |  | 2316 | 2252 |
|  3.500% due 09/01/2031 |  | 1049 | 1021 |
|  3.700% due 09/01/2031 |  | 2297 | 2211 |
|  4.150% due 02/25/2033 |  | 7336 | 7191 |
|  5.450% due 08/15/2038 |  | 9585 | 9799 |
|  5.875% due 04/15/2029 |  | 10452 | 10634 |
|  UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
|  2.900% due 05/15/2050 |  | 5500 | 3427 |
|  4.950% due 01/15/2032 |  | 10093 | 10209 |
|  5.150% due 07/15/2034 (o) |  | 14700 | 14831 |
|  5.200% due 04/15/2063 |  | 23860 | 20850 |
|  5.500% due 07/15/2044 |  | 10800 | 10429 |
|  Vale Overseas Ltd. | Vale Overseas Ltd. | Vale Overseas Ltd. | Vale Overseas Ltd. |
|  6.400% due 06/28/2054 |  | 4100 | 4156 |
|  Var Energi ASA | Var Energi ASA | Var Energi ASA | Var Energi ASA |
|  5.875% due 05/22/2030 |  | 600 | 620 |
|  8.000% due 11/15/2032 |  | 6200 | 7067 |
|  Venture Global Calcasieu Pass LLC | Venture Global Calcasieu Pass LLC | Venture Global Calcasieu Pass LLC | Venture Global Calcasieu Pass LLC |
|  3.875% due 08/15/2029 |  | 17500 | 16642 |
|  3.875% due 11/01/2033 |  | 11000 | 9753 |
|  4.125% due 08/15/2031 |  | 13000 | 12065 |
|  6.250% due 01/15/2030 |  | 8950 | 9159 |
|  Venture Global LNG, Inc. | Venture Global LNG, Inc. | Venture Global LNG, Inc. | Venture Global LNG, Inc. |
|  7.000% due 01/15/2030 |  | 11825 | 12080 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  8.375% due 06/01/2031 | $| 2500 | 2601 |
|  Viking Cruises Ltd. | Viking Cruises Ltd. | Viking Cruises Ltd. | Viking Cruises Ltd. |
|  5.875% due 10/15/2033 |  | 5511 | 5445 |
|  Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC |
|  5.700% due 08/01/2035 |  | 6300 | 6353 |
|  Virgin Media Secured Finance PLC | Virgin Media Secured Finance PLC | Virgin Media Secured Finance PLC | Virgin Media Secured Finance PLC |
|  4.250% due 01/15/2030 | GBP | 9900 | 11612 |
|  5.250% due 05/15/2029 |  | 1000 | 1268 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  4.250% due 01/31/2031 | $| 6200 | 5330 |
|  5.625% due 04/15/2032 | EUR | 14000 | 14914 |
|  VMware LLC | VMware LLC | VMware LLC | VMware LLC |
|  2.200% due 08/15/2031 | $| 3300 | 2898 |
|  4.700% due 05/15/2030 |  | 24482 | 24640 |
|  VOC Escrow Ltd. | VOC Escrow Ltd. | VOC Escrow Ltd. | VOC Escrow Ltd. |
|  5.000% due 02/15/2028 |  | 6000 | 5978 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.750% due 11/13/2028 |  | 4900 | 4899 |
|  Waste Connections, Inc. | Waste Connections, Inc. | Waste Connections, Inc. | Waste Connections, Inc. |
|  4.200% due 01/15/2033 |  | 796 | 771 |
|  Weatherford International Ltd. | Weatherford International Ltd. | Weatherford International Ltd. | Weatherford International Ltd. |
|  6.750% due 10/15/2033 |  | 3100 | 3169 |
|  Weir Group, Inc. | Weir Group, Inc. | Weir Group, Inc. | Weir Group, Inc. |
|  5.350% due 05/06/2030 |  | 5300 | 5374 |
|  Wessex Water Services Finance PLC | Wessex Water Services Finance PLC | Wessex Water Services Finance PLC | Wessex Water Services Finance PLC |
|  1.500% due 09/17/2029 | GBP | 4750 | 5500 |
|  Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP |
|  5.450% due 11/15/2034 | $| 9900 | 9808 |
|  6.150% due 04/01/2033 |  | 500 | 522 |
|  Westinghouse Air Brake Technologies Corp. | Westinghouse Air Brake Technologies Corp. | Westinghouse Air Brake Technologies Corp. | Westinghouse Air Brake Technologies Corp. |
|  4.700% due 09/15/2028 |  | 15933 | 15982 |
|  Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. |
|  5.150% due 03/15/2034 |  | 1400 | 1402 |
|  5.600% due 03/15/2035 |  | 19624 | 20062 |
|  5.650% due 03/15/2033 |  | 4200 | 4339 |
|  Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
|  3.700% due 09/15/2026 |  | 11375 | 11335 |
|  3.700% due 03/15/2028 |  | 6100 | 6012 |
|  4.500% due 03/04/2029 |  | 2300 | 2291 |
|  5.100% due 09/12/2034 |  | 5400 | 5317 |
|  5.400% due 05/19/2030 |  | 9700 | 9908 |
|  Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. |
|  5.250% due 05/15/2027 |  | 7300 | 7278 |
|  Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |
|  6.250% due 03/15/2033 |  | 9400 | 9312 |
|  Xylem, Inc. | Xylem, Inc. | Xylem, Inc. | Xylem, Inc. |
|  2.250% due 01/30/2031 |  | 300 | 270 |
|  Yellowstone Energy LP | Yellowstone Energy LP | Yellowstone Energy LP | Yellowstone Energy LP |
|  5.750% due 12/31/2026 |  | 586 | 580 |
|  Yorkshire Water Finance PLC | Yorkshire Water Finance PLC | Yorkshire Water Finance PLC | Yorkshire Water Finance PLC |
|  1.750% due 10/27/2032 | GBP | 12200 | 12516 |
|  6.375% due 08/19/2039 |  | 5000 | 6391 |
|  Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. |
|  5.350% due 12/01/2028 | $| 1626 | 1664 |
|  Zoetis, Inc. | Zoetis, Inc. | Zoetis, Inc. | Zoetis, Inc. |
|  2.000% due 05/15/2030 |  | 7000 | 6360 |
|  |  |  | 3593865 |
| UTILITIES 9.0% | UTILITIES 9.0% | UTILITIES 9.0% | UTILITIES 9.0% |
|  AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
|  5.200% due 04/15/2036 |  | 4500 | 4427 |
|  5.700% due 05/15/2034 |  | 1000 | 1030 |
|  6.650% due 02/15/2033 |  | 2425 | 2636 |
|  AES Corp. | AES Corp. | AES Corp. | AES Corp. |
|  3.950% due 07/15/2030 |  | 5200 | 4974 |
|  5.450% due 06/01/2028 |  | 2400 | 2423 |
|  5.800% due 03/15/2032 |  | 7700 | 7747 |
|  6.950% due 07/15/2055 •  |  | 2700 | 2522 |
|  7.600% due 01/15/2055 •  |  | 7550 | 7493 |
|  Alliant Energy Finance LLC | Alliant Energy Finance LLC | Alliant Energy Finance LLC | Alliant Energy Finance LLC |
|  3.600% due 03/01/2032 |  | 1500 | 1388 |
|  Ameren Corp. | Ameren Corp. | Ameren Corp. | Ameren Corp. |
|  5.700% due 12/01/2026 |  | 600 | 604 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **89** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  American Electric Power Co., Inc. | American Electric Power Co., Inc. | American Electric Power Co., Inc. |
|  3.875% due 02/15/2062 •  | 1200 | 1177 |
|  Anglian Water Services Financing PLC | Anglian Water Services Financing PLC | Anglian Water Services Financing PLC |
|  5.750% due 06/07/2043 | 9000 | 10370 |
|  6.000% due 06/20/2039 | 1400 | 1732 |
|  Appalachian Power Co. | Appalachian Power Co. | Appalachian Power Co. |
|  2.700% due 04/01/2031 | 6895 | 6273 |
|  3.700% due 05/01/2050 | 3000 | 2142 |
|  Arizona Public Service Co. | Arizona Public Service Co. | Arizona Public Service Co. |
|  2.650% due 09/15/2050 | 8900 | 5282 |
|  3.350% due 05/15/2050 | 3750 | 2494 |
|  5.500% due 09/01/2035 | 4300 | 4336 |
|  AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
|  2.550% due 12/01/2033 | 409 | 346 |
|  2.750% due 06/01/2031 | 16200 | 14819 |
|  3.500% due 06/01/2041 | 36300 | 28177 |
|  3.550% due 09/15/2055 | 23160 | 15074 |
|  3.650% due 06/01/2051 | 20800 | 14294 |
|  3.650% due 09/15/2059 | 33150 | 21497 |
|  3.850% due 06/01/2060 | 20750 | 13975 |
|  4.350% due 06/15/2045 | 300 | 243 |
|  4.400% due 04/30/2031 | 19200 | 19011 |
|  4.750% due 04/30/2033 | 5900 | 5846 |
|  Atlantic City Electric Co. | Atlantic City Electric Co. | Atlantic City Electric Co. |
|  4.000% due 10/15/2028 | 4600 | 4571 |
|  Berkshire Hathaway Energy Co. | Berkshire Hathaway Energy Co. | Berkshire Hathaway Energy Co. |
|  4.450% due 01/15/2049 | 1850 | 1502 |
|  Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
|  2.500% due 06/15/2030 | 10400 | 9506 |
|  3.875% due 10/15/2049 | 5500 | 4014 |
|  6.000% due 01/15/2035 | 11850 | 12307 |
|  6.150% due 05/15/2034 | 4200 | 4427 |
|  Capital Power U.S. Holdings, Inc. | Capital Power U.S. Holdings, Inc. | Capital Power U.S. Holdings, Inc. |
|  6.189% due 06/01/2035 | 200 | 205 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  5.050% due 03/01/2035 | 2600 | 2592 |
|  Clearway Energy Operating LLC | Clearway Energy Operating LLC | Clearway Energy Operating LLC |
|  3.750% due 02/15/2031 | 3500 | 3243 |
|  Cleveland Electric Illuminating Co. | Cleveland Electric Illuminating Co. | Cleveland Electric Illuminating Co. |
|  3.500% due 04/01/2028 | 4200 | 4115 |
|  Columbia Pipelines Holding Co. LLC | Columbia Pipelines Holding Co. LLC | Columbia Pipelines Holding Co. LLC |
|  6.042% due 08/15/2028 | 4000 | 4131 |
|  6.055% due 08/15/2026 | 2000 | 2009 |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  3.900% due 01/08/2028 | 9800 | 9726 |
|  4.400% due 01/15/2031 | 5100 | 5036 |
|  5.750% due 10/01/2041 | 2579 | 2593 |
|  6.500% due 10/01/2053 | 10000 | 10621 |
|  Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
|  2.250% due 08/15/2031 | 3500 | 3089 |
|  DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
|  2.950% due 03/01/2030 | 2441 | 2300 |
|  3.400% due 06/15/2029 | 2387 | 2311 |
|  5.100% due 03/01/2029 | 2599 | 2643 |
|  Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
|  2.450% due 08/15/2029 | 12300 | 11590 |
|  6.050% due 04/15/2038 | 1227 | 1309 |
|  Duke Energy Progress LLC | Duke Energy Progress LLC | Duke Energy Progress LLC |
|  5.050% due 03/15/2035 | 7600 | 7619 |
|  Duquesne Light Holdings, Inc. | Duquesne Light Holdings, Inc. | Duquesne Light Holdings, Inc. |
|  3.616% due 08/01/2027 | 14700 | 14527 |
|  DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC |
|  2.500% due 03/31/2036 | 7930 | 7635 |
|  Edison International | Edison International | Edison International |
|  5.450% due 06/15/2029 | 1700 | 1717 |
|  5.750% due 06/15/2027 | 10020 | 10098 |
|  6.250% due 03/15/2030 | 3100 | 3214 |
|  8.125% due 06/15/2053 •(o) | 4400 | 4482 |
|  Emera U.S. Finance LP | Emera U.S. Finance LP | Emera U.S. Finance LP |
|  4.750% due 06/15/2046 | 6300 | 5203 |
|  Empresa Electrica Cochrane SpA | Empresa Electrica Cochrane SpA | Empresa Electrica Cochrane SpA |
|  5.500% due 05/14/2027 | 534 | 534 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  2.125% due 07/12/2028 | 8276 | 7858 |
|  2.500% due 07/12/2031 | 5922 | 5262 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Entergy Arkansas LLC | Entergy Arkansas LLC | Entergy Arkansas LLC | Entergy Arkansas LLC |
|  4.950% due 01/15/2036 | $| 14000 | 13738 |
|  Entergy Corp. | Entergy Corp. | Entergy Corp. | Entergy Corp. |
|  1.900% due 06/15/2028 |  | 5900 | 5598 |
|  3.750% due 06/15/2050 |  | 1000 | 708 |
|  Entergy Texas, Inc. | Entergy Texas, Inc. | Entergy Texas, Inc. | Entergy Texas, Inc. |
|  5.250% due 04/15/2035 |  | 4200 | 4243 |
|  5.800% due 09/01/2053 |  | 800 | 792 |
|  EPH Financing International AS | EPH Financing International AS | EPH Financing International AS | EPH Financing International AS |
|  5.875% due 11/30/2029 | EUR | 4900 | 5969 |
|  6.651% due 11/13/2028 |  | 3900 | 4771 |
|  Evergy Metro, Inc. | Evergy Metro, Inc. | Evergy Metro, Inc. | Evergy Metro, Inc. |
|  2.250% due 06/01/2030 | $| 280 | 256 |
|  Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
|  4.450% due 12/15/2030 |  | 7100 | 7006 |
|  5.500% due 01/01/2034 |  | 1100 | 1116 |
|  Fells Point Funding Trust | Fells Point Funding Trust | Fells Point Funding Trust | Fells Point Funding Trust |
|  3.046% due 01/31/2027 |  | 11500 | 11373 |
|  FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC |
|  5.000% due 01/15/2035 |  | 5500 | 5424 |
|  FORESEA Holding SA | FORESEA Holding SA | FORESEA Holding SA | FORESEA Holding SA |
|  7.500% due 06/15/2030 |  | 1905 | 1872 |
|  Gazprom PJSC via Gaz Finance PLC | Gazprom PJSC via Gaz Finance PLC | Gazprom PJSC via Gaz Finance PLC | Gazprom PJSC via Gaz Finance PLC |
|  2.950% due 01/27/2029 |  | 18600 | 14043 |
|  Georgia Power Co. | Georgia Power Co. | Georgia Power Co. | Georgia Power Co. |
|  3.250% due 03/15/2051 |  | 3200 | 2143 |
|  3.700% due 01/30/2050 |  | 4200 | 3088 |
|  Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. |
|  4.950% due 09/30/2034 |  | 2500 | 2464 |
|  5.600% due 06/29/2035 |  | 3900 | 3997 |
|  IPALCO Enterprises, Inc. | IPALCO Enterprises, Inc. | IPALCO Enterprises, Inc. | IPALCO Enterprises, Inc. |
|  4.250% due 05/01/2030 |  | 1379 | 1329 |
|  5.750% due 04/01/2034 |  | 5700 | 5676 |
|  Jersey Central Power & Light Co. | Jersey Central Power & Light Co. | Jersey Central Power & Light Co. | Jersey Central Power & Light Co. |
|  4.400% due 01/15/2031 |  | 4700 | 4634 |
|  Mid-Atlantic Interstate Transmission LLC | Mid-Atlantic Interstate Transmission LLC | Mid-Atlantic Interstate Transmission LLC | Mid-Atlantic Interstate Transmission LLC |
|  4.100% due 05/15/2028 |  | 2500 | 2487 |
|  MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. |
|  3.150% due 04/15/2050 |  | 500 | 331 |
|  4.250% due 05/01/2046 |  | 1800 | 1482 |
|  5.350% due 01/15/2034 |  | 2100 | 2157 |
|  Midwest Connector Capital Co. LLC | Midwest Connector Capital Co. LLC | Midwest Connector Capital Co. LLC | Midwest Connector Capital Co. LLC |
|  4.625% due 04/01/2029 |  | 3155 | 3139 |
|  Mississippi Power Co. | Mississippi Power Co. | Mississippi Power Co. | Mississippi Power Co. |
|  3.950% due 03/30/2028 |  | 14645 | 14572 |
|  National Grid PLC | National Grid PLC | National Grid PLC | National Grid PLC |
|  5.602% due 06/12/2028 |  | 6000 | 6146 |
|  5.809% due 06/12/2033 |  | 5500 | 5740 |
|  Nevada Power Co. | Nevada Power Co. | Nevada Power Co. | Nevada Power Co. |
|  5.450% due 05/15/2041 |  | 4059 | 3980 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  3.830% due 06/12/2030 | CAD | 10200 | 7332 |
|  4.400% due 03/01/2031 | $| 10000 | 9915 |
|  4.670% due 06/12/2035 | CAD | 16700 | 12076 |
|  4.800% due 12/01/2077 •  | $| 4300 | 4202 |
|  6.750% due 06/15/2054 •  |  | 8000 | 8286 |
|  Northumbrian Water Finance PLC | Northumbrian Water Finance PLC | Northumbrian Water Finance PLC | Northumbrian Water Finance PLC |
|  5.625% due 04/29/2033 (o) | GBP | 1800 | 2336 |
|  NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. |
|  2.450% due 12/02/2027 | $| 1000 | 964 |
|  NSTAR Electric Co. | NSTAR Electric Co. | NSTAR Electric Co. | NSTAR Electric Co. |
|  5.200% due 03/01/2035 |  | 3500 | 3528 |
|  OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) | OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) | OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) | OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK) |
|  10.000% due 06/30/2027 ^(c)(d) |  | 2416 | 1172 |
|  OI SA (8.500% PIK) | OI SA (8.500% PIK) | OI SA (8.500% PIK) | OI SA (8.500% PIK) |
|  8.500% due 12/31/2028 ^(c)(d) |  | 5022 | 53 |
|  ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. |
|  4.550% due 07/15/2028 |  | 5671 | 5679 |
|  4.950% due 07/13/2047 |  | 9972 | 8513 |
|  5.050% due 11/01/2034 |  | 61400 | 59744 |
|  5.200% due 07/15/2048 |  | 2585 | 2274 |
|  5.550% due 11/01/2026 |  | 600 | 604 |
|  6.625% due 09/01/2053 |  | 1414 | 1452 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Orange SA | Orange SA | Orange SA |
|  4.000% due 01/13/2029 | 5000 | 4951 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  2.500% due 02/01/2031 | 15600 | 13985 |
|  3.000% due 06/15/2028 | 5400 | 5227 |
|  3.250% due 06/01/2031 | 1600 | 1476 |
|  3.300% due 03/15/2027 | 2229 | 2203 |
|  3.300% due 12/01/2027 | 22816 | 22350 |
|  3.300% due 08/01/2040 | 3424 | 2563 |
|  3.500% due 08/01/2050 | 13050 | 8636 |
|  3.750% due 07/01/2028 | 15079 | 14818 |
|  3.750% due 08/15/2042 | 2600 | 1949 |
|  4.250% due 03/15/2046 | 2100 | 1597 |
|  4.300% due 03/15/2045 | 1932 | 1511 |
|  4.500% due 07/01/2040 | 2800 | 2391 |
|  4.500% due 12/15/2041 | 4300 | 3592 |
|  4.600% due 06/15/2043 | 4900 | 4051 |
|  4.650% due 08/01/2028 | 17000 | 17028 |
|  4.750% due 02/15/2044 | 5700 | 4768 |
|  4.950% due 07/01/2050 | 7865 | 6520 |
|  5.250% due 03/01/2052 | 13600 | 11584 |
|  5.700% due 03/01/2035 | 1856 | 1882 |
|  5.900% due 10/01/2054 | 1883 | 1756 |
|  6.000% due 08/15/2035 | 5000 | 5168 |
|  6.100% due 10/15/2055 | 9200 | 8844 |
|  6.150% due 01/15/2033 | 869 | 909 |
|  PacifiCorp | PacifiCorp | PacifiCorp |
|  2.700% due 09/15/2030 | 1500 | 1368 |
|  2.900% due 06/15/2052 | 6900 | 3934 |
|  4.250% due 03/15/2029 | 18000 | 17801 |
|  5.300% due 02/15/2031 | 6200 | 6287 |
|  5.350% due 12/01/2053 | 5450 | 4679 |
|  5.750% due 04/01/2037 | 8278 | 8201 |
|  5.800% due 01/15/2055 | 5000 | 4571 |
|  7.375% due 09/15/2055 •  | 4000 | 3825 |
|  Petrobras Global Finance BV | Petrobras Global Finance BV | Petrobras Global Finance BV |
|  5.125% due 09/10/2030 | 34400 | 33750 |
|  6.250% due 01/10/2036 | 3400 | 3326 |
|  Piedmont Natural Gas Co., Inc. | Piedmont Natural Gas Co., Inc. | Piedmont Natural Gas Co., Inc. |
|  3.350% due 06/01/2050 | 4300 | 2917 |
|  3.500% due 06/01/2029 | 2100 | 2042 |
|  3.640% due 11/01/2046 | 1500 | 1101 |
|  5.100% due 02/15/2035 | 5000 | 4991 |
|  Pinnacle West Capital Corp. | Pinnacle West Capital Corp. | Pinnacle West Capital Corp. |
|  4.469% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 12700 | 12710 |
|  Plains All American Pipeline LP/PAA Finance Corp. | Plains All American Pipeline LP/PAA Finance Corp. | Plains All American Pipeline LP/PAA Finance Corp. |
|  5.700% due 09/15/2034 | 400 | 409 |
|  Public Service Co. of Oklahoma | Public Service Co. of Oklahoma | Public Service Co. of Oklahoma |
|  3.150% due 08/15/2051 | 701 | 450 |
|  Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. |
|  6.500% due 02/02/2031 | 6900 | 6707 |
|  Rio Oil Finance Trust | Rio Oil Finance Trust | Rio Oil Finance Trust |
|  9.750% due 01/06/2027 | 2013 | 2058 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  1.700% due 10/01/2030 | 7689 | 6805 |
|  2.950% due 08/15/2051 | 1128 | 709 |
|  3.000% due 03/15/2032 | 4599 | 4187 |
|  4.100% due 06/15/2049 | 9500 | 7294 |
|  5.400% due 04/15/2035 | 5000 | 5087 |
|  SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC |
|  5.112% due 12/14/2049 | 3700 | 3474 |
|  Sempra | Sempra | Sempra |
|  3.400% due 02/01/2028 | 440 | 432 |
|  6.375% due 04/01/2056 •  | 9800 | 9847 |
|  6.400% due 10/01/2054 •  | 1500 | 1496 |
|  6.875% due 10/01/2054 •  | 1100 | 1112 |
|  Severn Trent Utilities Finance PLC | Severn Trent Utilities Finance PLC | Severn Trent Utilities Finance PLC |
|  4.000% due 03/05/2034 | 7050 | 8133 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.500% due 06/01/2031 | 2600 | 2323 |
|  2.750% due 02/01/2032 | 10500 | 9369 |
|  2.950% due 02/01/2051 | 7600 | 4578 |
|  3.450% due 02/01/2052 | 8200 | 5373 |
|  3.650% due 02/01/2050 | 2000 | 1373 |
|  3.900% due 12/01/2041 | 1100 | 857 |
|  3.900% due 03/15/2043 | 6100 | 4625 |

---

---

| | | |
|:---|:---|:---|
| **90** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.000% due 04/01/2047 | $| 14900 | 11083 |
|  4.400% due 09/06/2026 |  | 1500 | 1500 |
|  4.650% due 10/01/2043 |  | 600 | 504 |
|  4.875% due 02/01/2027 |  | 2200 | 2206 |
|  4.875% due 03/01/2049 |  | 8468 | 7086 |
|  5.250% due 03/15/2030 |  | 3900 | 3962 |
|  5.300% due 03/01/2028 |  | 8300 | 8419 |
|  5.450% due 06/01/2031 |  | 435 | 445 |
|  5.450% due 03/01/2035 |  | 20900 | 20987 |
|  5.850% due 11/01/2027 |  | 5400 | 5502 |
|  6.650% due 04/01/2029 |  | 8039 | 8372 |
|  Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
|  2.550% due 02/01/2030 |  | 2200 | 2061 |
|  5.200% due 06/01/2033 |  | 8300 | 8462 |
|  Southern Co. Gas Capital Corp. | Southern Co. Gas Capital Corp. | Southern Co. Gas Capital Corp. | Southern Co. Gas Capital Corp. |
|  1.750% due 01/15/2031 |  | 9423 | 8270 |
|  3.250% due 06/15/2026 |  | 4217 | 4209 |
|  Southern Power Co. | Southern Power Co. | Southern Power Co. | Southern Power Co. |
|  5.250% due 07/15/2043 |  | 1000 | 939 |
|  Southwest Gas Corp. | Southwest Gas Corp. | Southwest Gas Corp. | Southwest Gas Corp. |
|  4.050% due 03/15/2032 |  | 1575 | 1506 |
|  Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. |
|  3.250% due 11/01/2051 |  | 115 | 74 |
|  Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. |
|  3.150% due 05/01/2050 |  | 8200 | 5319 |
|  SPP-Distribucia AS | SPP-Distribucia AS | SPP-Distribucia AS | SPP-Distribucia AS |
|  1.000% due 06/09/2031 | EUR | 3600 | 3592 |
|  SW Finance I PLC | SW Finance I PLC | SW Finance I PLC | SW Finance I PLC |
|  7.000% due 04/16/2040 | GBP | 12600 | 16196 |
|  7.375% due 12/12/2041 (o) |  | 4800 | 6299 |
|  7.750% due 10/31/2031 |  | 5600 | 7751 |
|  System Energy Resources, Inc. | System Energy Resources, Inc. | System Energy Resources, Inc. | System Energy Resources, Inc. |
|  5.300% due 12/15/2034 | $| 10700 | 10677 |
|  Toledo Edison Co. | Toledo Edison Co. | Toledo Edison Co. | Toledo Edison Co. |
|  2.650% due 05/01/2028 |  | 11334 | 10768 |
|  United Utilities Water Finance PLC | United Utilities Water Finance PLC | United Utilities Water Finance PLC | United Utilities Water Finance PLC |
|  3.500% due 02/27/2033 | EUR | 2100 | 2360 |
|  Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
|  1.750% due 01/20/2031 | $| 400 | 351 |
|  4.016% due 12/03/2029 |  | 200 | 197 |
|  4.750% due 01/15/2033 |  | 6935 | 6852 |
|  4.780% due 02/15/2035 |  | 2812 | 2723 |
|  5.000% due 01/15/2036 |  | 4100 | 4017 |
|  6.000% due 11/30/2065 |  | 1400 | 1358 |
|  Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC |
|  4.700% due 01/31/2031 |  | 5000 | 4922 |
|  6.000% due 04/15/2034 |  | 5200 | 5349 |
|  Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC |
|  5.125% due 06/04/2081 •  |  | 11100 | 8633 |
|  Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. |
|  1.750% due 03/15/2027 |  | 1800 | 1755 |
|  3.400% due 06/01/2030 |  | 240 | 228 |
|  |  |  | 1185619 |
|  Total Corporate Bonds & Notes<br>(Cost $9,323,167) | Total Corporate Bonds & Notes<br>(Cost $9,323,167) | Total Corporate Bonds & Notes<br>(Cost $9,323,167) | 8991890 |
| CONVERTIBLE BONDS & NOTES 0.0% | CONVERTIBLE BONDS & NOTES 0.0% | CONVERTIBLE BONDS & NOTES 0.0% | CONVERTIBLE BONDS & NOTES 0.0% |
| BANKING & FINANCE 0.0% | BANKING & FINANCE 0.0% | BANKING & FINANCE 0.0% | BANKING & FINANCE 0.0% |
|  Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. | Kaisa Group Holdings Ltd. |
|  0.000% due 12/31/2026 (g) |  | 807 | 3 |
|  0.000% due 12/31/2027 (g) |  | 1009 | 2 |
|  0.000% due 12/31/2028 (g) |  | 1614 | 2 |
|  0.000% due 12/31/2029 (g) |  | 1614 | 2 |
|  0.000% due 12/31/2030 (g) |  | 2017 | 3 |
|  0.000% due 12/31/2031 (g) |  | 2017 | 2 |
|  0.000% due 12/31/2032 (g) |  | 3803 | 4 |
|  Total Convertible Bonds & Notes<br>(Cost $693) | Total Convertible Bonds & Notes<br>(Cost $693) | Total Convertible Bonds & Notes<br>(Cost $693) | 18 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| MUNICIPAL BONDS & NOTES 0.2% | MUNICIPAL BONDS & NOTES 0.2% | MUNICIPAL BONDS & NOTES 0.2% |
| ARIZONA 0.1% | ARIZONA 0.1% | ARIZONA 0.1% |
|  Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 | Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 | Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 |
|  7.375% due 10/01/2029 | 8000 | 8437 |
| CALIFORNIA 0.0% | CALIFORNIA 0.0% | CALIFORNIA 0.0% |
|  Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 |
|  4.214% due 06/01/2050 | 1000 | 758 |
| FLORIDA 0.0% | FLORIDA 0.0% | FLORIDA 0.0% |
|  State Board of Administration Finance Corp. Florida Revenue Notes, Series 2024 | State Board of Administration Finance Corp. Florida Revenue Notes, Series 2024 | State Board of Administration Finance Corp. Florida Revenue Notes, Series 2024 |
|  5.526% due 07/01/2034 | 2891 | 3032 |
| TEXAS 0.1% | TEXAS 0.1% | TEXAS 0.1% |
|  Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 | Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 | Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 |
|  5.102% due 04/01/2035 | 9462 | 9696 |
|  5.169% due 04/01/2041 | 7600 | 7705 |
|  |  | 17401 |
|  Total Municipal Bonds & Notes (Cost $28,725) | Total Municipal Bonds & Notes (Cost $28,725) | 29628 |
| U.S. GOVERNMENT AGENCIES 14.2% | U.S. GOVERNMENT AGENCIES 14.2% | U.S. GOVERNMENT AGENCIES 14.2% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  4.500% due 06/01/2053 - 12/01/2053 | 4012 | 3878 |
|  5.000% due 01/01/2055 | 946 | 944 |
|  5.500% due 08/01/2054 - 01/01/2055 | 20401 | 20516 |
|  6.500% due 06/01/2054 | 1162 | 1202 |
|  Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates |
|  6.153% due 11/25/2055 «~ | 3120 | 2032 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.532% due 12/25/2055 •  | 2923 | 2923 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  3.000% due 01/01/2045 | 107 | 98 |
|  3.500% due 07/01/2046 | 1367 | 1279 |
|  4.000% due 08/01/2049 | 167 | 160 |
|  4.500% due 11/01/2048 - 07/01/2053 | 30103 | 29350 |
|  5.000% due 02/01/2054 - 02/01/2055 | 2811 | 2804 |
|  6.500% due 07/01/2054 - 10/01/2054 | 1162 | 1203 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.323% due 02/20/2074 •  | 2110 | 2113 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 05/01/2056 | 93600 | 87634 |
|  4.500% due 04/01/2056 | 55900 | 54011 |
|  5.000% due 04/01/2056 - 05/01/2056 | 59300 | 58623 |
|  6.000% due 05/01/2056 | 22700 | 23058 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 06/01/2056 | 90 | 85 |
|  4.500% due 05/01/2056 - 06/01/2056 | 823495 | 793600 |
|  5.000% due 04/01/2056 - 06/01/2056 | 785600 | 773880 |
|  Total U.S. Government Agencies<br>(Cost $1,859,088) | Total U.S. Government Agencies<br>(Cost $1,859,088) | 1859393 |
| U.S. TREASURY OBLIGATIONS 16.0% | U.S. TREASURY OBLIGATIONS 16.0% | U.S. TREASURY OBLIGATIONS 16.0% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.750% due 08/15/2041 | 76400 | 51103 |
|  1.875% due 11/15/2051 (q) | 204438 | 112369 |
|  2.000% due 11/15/2041 | 18400 | 12731 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.000% due 02/15/2050 | 15500 | 9027 |
|  2.250% due 05/15/2041 | 137298 | 100107 |
|  2.250% due 08/15/2049 (q) | 74500 | 46356 |
|  2.250% due 02/15/2052 (q) | 12600 | 7598 |
|  2.375% due 11/15/2049 | 150000 | 95607 |
|  2.500% due 02/15/2046 | 76025 | 52469 |
|  2.500% due 05/15/2046 (q) | 91308 | 62760 |
|  2.750% due 08/15/2047 (q) | 115600 | 81837 |
|  3.000% due 08/15/2048 (q) | 4700 | 3451 |
|  3.125% due 05/15/2048 | 106300 | 80028 |
|  3.250% due 05/15/2042 | 4200 | 3462 |
|  3.375% due 08/15/2042 | 131635 | 110003 |
|  3.375% due 11/15/2048 (q) | 153500 | 120335 |
|  3.750% due 08/15/2041 | 168700 | 150512 |
|  4.000% due 11/15/2042 | 20500 | 18556 |
|  4.375% due 05/15/2041 | 230738 | 222311 |
|  4.375% due 08/15/2043 | 137351 | 129687 |
|  4.625% due 02/15/2046 (o) | 3000 | 2892 |
|  4.625% due 11/15/2055 | 46600 | 44532 |
|  4.750% due 08/15/2055 (o) | 226950 | 221205 |
|  4.750% due 02/15/2056 | 8075 | 7877 |
|  4.875% due 08/15/2045 | 18023 | 17968 |
|  U.S. Treasury Inflation Protected Securities (i) | U.S. Treasury Inflation Protected Securities (i) | U.S. Treasury Inflation Protected Securities (i) |
|  1.000% due 02/15/2046 | 7206 | 5350 |
|  2.125% due 02/15/2054 | 24838 | 21924 |
|  2.375% due 02/15/2055 | 24313 | 22621 |
|  2.375% due 02/15/2056 | 27297 | 25379 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  1.875% due 02/15/2032 (q)(s) | 52941 | 46958 |
|  2.750% due 08/15/2032 (q)(s) | 87293 | 80756 |
|  3.875% due 06/30/2030 (q) | 70000 | 69900 |
|  4.125% due 02/15/2036 (o)(q) | 23360 | 22997 |
|  4.250% due 05/15/2035 (q)(s) | 23700 | 23641 |
|  U.S. Treasury STRIPS (g) | U.S. Treasury STRIPS (g) | U.S. Treasury STRIPS (g) |
|  0.000% due 05/15/2042 (a) | 19400 | 8696 |
|  Total U.S. Treasury Obligations (Cost $2,214,392) | Total U.S. Treasury Obligations (Cost $2,214,392) | 2093005 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 2.8% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.8% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.8% |
|  245 Park Avenue Trust | 245 Park Avenue Trust | 245 Park Avenue Trust |
|  3.508% due 06/05/2037 | 3622 | 3564 |
|  American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust |
|  4.799% due 10/25/2046 •  | 1360 | 907 |
|  American Home Mortgage Investment Trust | American Home Mortgage Investment Trust | American Home Mortgage Investment Trust |
|  5.799% due 11/25/2045 •  | 445 | 172 |
|  BAMLL Commercial Mortgage Pass-Through Certificates | BAMLL Commercial Mortgage Pass-Through Certificates | BAMLL Commercial Mortgage Pass-Through Certificates |
|  3.110% due 04/25/2050 « | 28245 | 27567 |
|  3.110% due 08/25/2052 « | 10000 | 8962 |
|  Banc of America Alternative Loan Trust | Banc of America Alternative Loan Trust | Banc of America Alternative Loan Trust |
|  5.750% due 11/25/2035 | 149 | 132 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  3.923% due 01/25/2037 •  | 4163 | 3660 |
|  4.170% due 10/20/2036 •  | 871 | 687 |
|  4.350% due 06/20/2047 •  | 528 | 442 |
|  4.593% due 05/25/2037 •  | 235 | 215 |
|  4.976% due 06/20/2037 ~ | 1802 | 1618 |
|  5.750% due 01/25/2037 | 1923 | 1647 |
|  6.000% due 03/25/2037 | 868 | 666 |
|  21.566% due 07/25/2047 •  | 697 | 1035 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  3.958% due 10/25/2035 ~ | 332 | 270 |
|  BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust |
|  3.784% due 07/26/2036 ~ | 92 | 83 |
|  4.233% due 05/25/2047 •  | 371 | 340 |
|  6.000% due 07/26/2037 ~ | 71 | 66 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  3.946% due 03/25/2036 ~ | 113 | 94 |
|  4.113% due 08/25/2036 •  | 334 | 303 |
|  4.132% due 08/25/2036 ~ | 808 | 362 |
|  4.901% due 04/25/2035 ~ | 5039 | 4606 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  4.242% due 06/25/2047 ~ | 1352 | 1225 |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  2.640% due 09/15/2048 | 1167 | 1151 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  6.000% due 06/25/2037 | 2826 | 1039 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **91** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates |
|  4.473% due 08/25/2037 •  | 233 | 212 |
|  Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates |
|  4.073% due 01/25/2035 •  | 104 | 104 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.495% due 03/25/2037 ~ | 192 | 178 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  4.003% due 04/25/2047 •  | 783 | 700 |
|  4.143% due 05/25/2037 •  | 620 | 191 |
|  4.170% due 09/20/2046 •  | 343 | 361 |
|  4.173% due 09/25/2046 •  | 964 | 955 |
|  4.210% due 09/20/2046 •  | 1086 | 1053 |
|  5.209% due 08/25/2035 •  | 1128 | 984 |
|  5.500% due 07/25/2035 | 722 | 564 |
|  5.500% due 01/25/2036 | 683 | 432 |
|  6.000% due 03/25/2036 | 761 | 332 |
|  6.000% due 05/25/2036 | 80 | 37 |
|  6.000% due 06/25/2037 | 1391 | 610 |
|  6.500% due 12/25/2036 | 350 | 141 |
|  Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization |
|  6.000% due 08/25/2037 ~ | 743 | 362 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  5.250% due 09/25/2035 | 4691 | 3590 |
|  CSMC Trust | CSMC Trust | CSMC Trust |
|  3.817% due 05/27/2037 ~ | 2533 | 1659 |
|  3.839% due 04/28/2037 ~ | 521 | 496 |
|  3.850% due 09/25/2057 ~ | 406 | 390 |
|  3.868% due 06/26/2037 ~ | 719 | 702 |
|  CSWF Corp. | CSWF Corp. | CSWF Corp. |
|  4.854% due 06/15/2034 •  | 463 | 455 |
|  DC Commercial Mortgage Trust | DC Commercial Mortgage Trust | DC Commercial Mortgage Trust |
|  6.314% due 09/12/2040 | 1200 | 1224 |
|  DROP Mortgage Trust | DROP Mortgage Trust | DROP Mortgage Trust |
|  4.937% due 10/15/2043 •  | 5000 | 4988 |
|  GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
|  0.000% due 11/25/2055 «~ | 2 | 2 |
|  0.000% due 11/25/2055 «(g) | 2 | 2 |
|  0.000% due 11/25/2055 ~ | 12 | 12 |
|  5.226% due 11/25/2055 ~ | 15900 | 15943 |
|  5.547% due 11/25/2055 «~ | 23400 | 23801 |
|  5.616% due 11/25/2055 « | 15500 | 15402 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  4.233% due 08/25/2046 •  | 19296 | 3815 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  4.201% due 12/19/2036 •  | 2083 | 1753 |
|  4.291% due 01/19/2036 •  | 1523 | 974 |
|  4.299% due 06/19/2036 ~ | 553 | 222 |
|  HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust |
|  6.000% due 09/25/2037 | 81 | 56 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  4.273% due 07/25/2035 •  | 4560 | 4308 |
|  JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust |
|  4.667% due 05/25/2037 ~ | 483 | 424 |
|  6.810% due 08/25/2036 þ | 424 | 419 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  4.519% due 04/15/2037 •  | 2818 | 2791 |
|  Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust |
|  6.000% due 07/25/2037 | 10 | 9 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  7.000% due 05/25/2033 ~ | 2 | 2 |
|  Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
|  4.737% due 12/15/2036 •  | 2341 | 1805 |
|  4.956% due 12/15/2038 •  | 6700 | 6493 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  5.962% due 06/25/2036 ~ | 340 | 89 |
|  Morgan Stanley Re-REMICS Trust | Morgan Stanley Re-REMICS Trust | Morgan Stanley Re-REMICS Trust |
|  5.500% due 01/26/2037 ~ | 2 | 2 |
|  MortgageIT Mortgage Loan Trust | MortgageIT Mortgage Loan Trust | MortgageIT Mortgage Loan Trust |
|  4.193% due 04/25/2036 •  | 2726 | 2004 |
|  New Century Alternative Mortgage Loan Trust | New Century Alternative Mortgage Loan Trust | New Century Alternative Mortgage Loan Trust |
|  6.667% due 07/25/2036 þ | 832 | 155 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.750% due 07/25/2059 ~ | 15879 | 15406 |
|  2.750% due 11/25/2059 ~ | 11077 | 10648 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.500% due 05/25/2058 ~ | $| 4475 | 4363 |
|  One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust |
|  4.737% due 01/15/2036 •  |  | 2265 | 2188 |
|  PMT Loan Trust | PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
|  5.012% due 08/25/2056 •  |  | 749 | 752 |
|  Project Cashmere | Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(b) | AUD | 185600 | 128055 |
|  5.713% due 12/30/2057 «(b) |  | 6200 | 4278 |
|  5.863% due 12/30/2057 «(b) |  | 4300 | 2967 |
|  6.163% due 12/30/2057 «(b) |  | 2300 | 1587 |
|  6.563% due 12/30/2057 «(b) |  | 1700 | 1173 |
|  RALI Trust | RALI Trust | RALI Trust | RALI Trust |
|  4.153% due 05/25/2036 •  | $| 623 | 576 |
|  4.173% due 08/25/2036 •  |  | 353 | 366 |
|  4.213% due 04/25/2046 •  |  | 6124 | 1496 |
|  4.788% due 10/25/2037 ~ |  | 3093 | 2468 |
|  4.973% due 01/25/2036 ~ |  | 873 | 585 |
|  5.271% due 07/25/2035 ~ |  | 82 | 75 |
|  Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. |
|  1.000% due 03/26/2029 «(m) |  | 13000 | 12802 |
|  Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. | Stripe Global Holdings, Inc. |
|  5.170% due 03/26/2031 «(m) |  | 13000 | 12702 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  3.849% due 05/25/2036 ~ |  | 767 | 423 |
|  4.093% due 08/25/2036 •  |  | 462 | 368 |
|  TBW Mortgage-Backed Trust | TBW Mortgage-Backed Trust | TBW Mortgage-Backed Trust | TBW Mortgage-Backed Trust |
|  6.280% due 01/25/2037 þ |  | 6514 | 1148 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  2.750% due 06/25/2057 ~ |  | 1401 | 1380 |
|  4.793% due 05/25/2058 •  |  | 410 | 417 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.647% due 07/25/2037 ~ |  | 233 | 215 |
|  Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust |
|  4.699% due 11/25/2046 •  |  | 739 | 647 |
|  6.000% due 07/25/2036 |  | 162 | 115 |
|  Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust |
|  5.750% due 07/25/2037 | 5.750% due 07/25/2037 | 83 | 73 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $375,118) | Total Non-Agency Mortgage-Backed Securities (Cost $375,118) | Total Non-Agency Mortgage-Backed Securities (Cost $375,118) | 369289 |
| ASSET-BACKED SECURITIES 3.5% | ASSET-BACKED SECURITIES 3.5% | ASSET-BACKED SECURITIES 3.5% | ASSET-BACKED SECURITIES 3.5% |
| CMBS OTHER 0.2% | CMBS OTHER 0.2% | CMBS OTHER 0.2% | CMBS OTHER 0.2% |
|  ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC |
|  0.000% due 08/18/2044 • | 0.000% due 08/18/2044 • | 7700 | 7695 |
|  BRSP Ltd. | BRSP Ltd. | BRSP Ltd. |  |
|  5.127% due 08/19/2043 • | 5.127% due 08/19/2043 • | 8300 | 8285 |
|  FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC |  |
|  0.000% due 01/19/2044 • | 0.000% due 01/19/2044 • | 9600 | 9602 |
|  MF1 LLC | MF1 LLC | MF1 LLC |  |
|  5.410% due 03/19/2039 • | 5.410% due 03/19/2039 • | 1000 | 1000 |
|  MF1 Ltd. | MF1 Ltd. | MF1 Ltd. |  |
|  5.027% due 02/19/2037 • | 5.027% due 02/19/2037 • | 4874 | 4879 |
|  |  |  | 31461 |
| HOME EQUITY OTHER 1.3% | HOME EQUITY OTHER 1.3% | HOME EQUITY OTHER 1.3% | HOME EQUITY OTHER 1.3% |
|  ABFC Trust | ABFC Trust | ABFC Trust | ABFC Trust |
|  4.053% due 01/25/2037 • | 4.053% due 01/25/2037 • | 3200 | 2304 |
|  Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust |
|  4.053% due 09/25/2036 • | 4.053% due 09/25/2036 • | 194 | 194 |
|  ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust |
|  4.113% due 08/25/2036 • | 4.113% due 08/25/2036 • | 1492 | 338 |
|  4.193% due 12/25/2036 • | 4.193% due 12/25/2036 • | 4770 | 1190 |
|  4.738% due 05/25/2035 • | 4.738% due 05/25/2035 • | 5500 | 5158 |
|  Argent Securities Trust | Argent Securities Trust | Argent Securities Trust | Argent Securities Trust |
|  3.903% due 09/25/2036 • | 3.903% due 09/25/2036 • | 1545 | 500 |
|  4.333% due 05/25/2036 • | 4.333% due 05/25/2036 • | 1223 | 289 |
|  4.353% due 04/25/2036 • | 4.353% due 04/25/2036 • | 6039 | 1840 |
|  Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.553% due 02/25/2036 • | 4.553% due 02/25/2036 • | 1860 | 1527 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.253% due 11/25/2036 •  | 6743 | 6423 |
|  C-BASS Trust | C-BASS Trust | C-BASS Trust |
|  4.093% due 11/25/2036 •  | 1009 | 467 |
|  Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust |
|  4.043% due 10/25/2036 •  | 1775 | 1450 |
|  CIT Mortgage Loan Trust | CIT Mortgage Loan Trust | CIT Mortgage Loan Trust |
|  5.293% due 10/25/2037 •  | 2106 | 2137 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.193% due 01/25/2037 •  | 8220 | 3464 |
|  4.313% due 03/25/2036 •  | 835 | 772 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.233% due 09/25/2047 •  | 167 | 174 |
|  4.253% due 05/25/2037 •  | 1853 | 1741 |
|  4.273% due 03/25/2036 •  | 822 | 762 |
|  4.533% due 08/25/2047 •  | 1413 | 1391 |
|  Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust |
|  4.893% due 05/25/2037 •  | 1885 | 1853 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  4.093% due 01/25/2037 •  | 1287 | 590 |
|  4.133% due 02/25/2037 •  | 1652 | 490 |
|  GSAA Home Equity Trust | GSAA Home Equity Trust | GSAA Home Equity Trust |
|  4.093% due 07/25/2036 •  | 49449 | 9019 |
|  4.113% due 05/25/2036 •  | 32606 | 6932 |
|  4.194% due 03/25/2036 ~ | 1026 | 398 |
|  4.303% due 01/25/2036 •  | 5785 | 5153 |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  3.953% due 01/25/2037 •  | 2426 | 1494 |
|  4.073% due 09/25/2036 •  | 65312 | 21955 |
|  4.133% due 01/25/2037 •  | 3158 | 3121 |
|  Home Equity Loan Trust | Home Equity Loan Trust | Home Equity Loan Trust |
|  4.133% due 04/25/2037 •  | 3100 | 2789 |
|  Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust |
|  4.543% due 10/25/2035 •  | 864 | 860 |
|  JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust |
|  4.243% due 07/25/2036 •  | 8826 | 8557 |
|  6.080% due 08/25/2036 þ | 1173 | 683 |
|  Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust |
|  4.113% due 09/25/2036 •  | 12410 | 3087 |
|  4.153% due 03/25/2046 •  | 3629 | 3202 |
|  4.273% due 09/25/2036 •  | 3925 | 979 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  4.273% due 03/25/2036 •  | 1963 | 1165 |
|  4.513% due 12/25/2034 •  | 5982 | 5667 |
|  4.543% due 10/25/2035 •  | 864 | 859 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.076% due 02/25/2037 þ | 10176 | 1041 |
|  4.313% due 03/25/2037 •  | 4374 | 4159 |
|  4.543% due 09/25/2035 •  | 603 | 596 |
|  4.693% due 02/25/2047 •  | 4129 | 2384 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  3.933% due 10/25/2036 •  | 889 | 388 |
|  3.943% due 11/25/2036 •  | 1236 | 729 |
|  3.943% due 12/25/2036 •  | 602 | 303 |
|  3.943% due 02/25/2037 •  | 3343 | 1463 |
|  3.973% due 02/25/2037 •  | 10573 | 3308 |
|  3.993% due 02/25/2037 •  | 438 | 192 |
|  4.013% due 10/25/2036 •  | 972 | 424 |
|  4.023% due 02/25/2037 •  | 4029 | 1260 |
|  4.293% due 08/25/2036 •  | 5293 | 2631 |
|  4.413% due 12/25/2035 •  | 138 | 137 |
|  5.043% due 07/25/2037 •  | 2100 | 1878 |
|  Morgan Stanley Home Equity Loan Trust | Morgan Stanley Home Equity Loan Trust | Morgan Stanley Home Equity Loan Trust |
|  3.893% due 04/25/2037 •  | 189 | 97 |
|  4.143% due 04/25/2037 •  | 903 | 462 |
|  New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |
|  4.113% due 08/25/2036 •  | 3285 | 3263 |
|  4.498% due 02/25/2036 •  | 6100 | 5511 |
|  NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust |
|  4.093% due 03/25/2037 •  | 979 | 305 |
|  4.213% due 01/25/2037 •  | 3986 | 1309 |
|  4.293% due 10/25/2036 •  | 1011 | 463 |
|  Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |
|  4.073% due 01/25/2037 •  | 3317 | 1930 |

---

---

| | | |
|:---|:---|:---|
| **92** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.528% due 08/25/2035 •  | 1712 | 1734 |
|  Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust |
|  7.238% due 09/25/2037 þ | 10100 | 3843 |
|  Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust |
|  4.248% due 12/25/2035 • | 6144 | 5134 |
|  Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust |
|  4.293% due 11/25/2037 • | 8000 | 7506 |
|  |  | 163424 |
| WHOLE LOAN COLLATERAL 0.0% | WHOLE LOAN COLLATERAL 0.0% | WHOLE LOAN COLLATERAL 0.0% |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.143% due 12/25/2035 • | 209 | 97 |
|  4.793% due 08/25/2035 • | 75 | 43 |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.153% due 06/25/2036 • | 32 | 39 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  4.293% due 03/25/2036 • | 1092 | 693 |
|  Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust |
|  4.046% due 02/25/2037 þ | 1319 | 419 |
|  4.093% due 06/25/2037 •  | 462 | 283 |
|  4.333% due 04/25/2037 •  | 680 | 505 |
|  |  | 2079 |
| OTHER ABS 2.0% | OTHER ABS 2.0% | OTHER ABS 2.0% |
|  37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. |
|  4.952% due 10/15/2034 •  | 5400 | 5407 |
|  522 Funding CLO Ltd. | 522 Funding CLO Ltd. | 522 Funding CLO Ltd. |
|  4.969% due 10/20/2031 •  | 95 | 95 |
|  AIM Aviation Finance Ltd. | AIM Aviation Finance Ltd. | AIM Aviation Finance Ltd. |
|  6.213% due 02/15/2040 þ | 1164 | 1143 |
|  AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. |
|  4.868% due 01/20/2035 •  | 1000 | 1000 |
|  Apidos CLO XI | Apidos CLO XI | Apidos CLO XI |
|  4.908% due 04/17/2034 •  | 3400 | 3404 |
|  Apidos CLO XXXV | Apidos CLO XXXV | Apidos CLO XXXV |
|  4.979% due 04/20/2034 •  | 3000 | 3003 |
|  ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. |
|  4.821% due 10/28/2034 •  | 4100 | 4105 |
|  Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. |
|  4.768% due 01/20/2034 •  | 1900 | 1901 |
|  Atlas Senior Loan Fund XVIII Ltd. | Atlas Senior Loan Fund XVIII Ltd. | Atlas Senior Loan Fund XVIII Ltd. |
|  4.778% due 01/18/2035 •  | 3100 | 3096 |
|  BlueMountain CLO XXXIV Ltd. | BlueMountain CLO XXXIV Ltd. | BlueMountain CLO XXXIV Ltd. |
|  4.818% due 04/20/2035 •  | 1500 | 1500 |
|  Capital Four U.S. CLO II Ltd. | Capital Four U.S. CLO II Ltd. | Capital Four U.S. CLO II Ltd. |
|  5.568% due 01/20/2037 •  | 12000 | 12039 |
|  Castlelake Aircraft Structured Trust | Castlelake Aircraft Structured Trust | Castlelake Aircraft Structured Trust |
|  5.073% due 03/15/2051 | 6000 | 5902 |
|  CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. |
|  4.868% due 01/20/2035 •  | 1800 | 1801 |
|  Dryden 86 CLO Ltd. | Dryden 86 CLO Ltd. | Dryden 86 CLO Ltd. |
|  4.798% due 07/17/2034 •  | 500 | 501 |
|  Dryden 95 CLO Ltd. | Dryden 95 CLO Ltd. | Dryden 95 CLO Ltd. |
|  4.696% due 08/20/2034 •  | 4300 | 4301 |
|  ECAF I Ltd. | ECAF I Ltd. | ECAF I Ltd. |
|  3.473% due 06/15/2040 | 82 | 74 |
|  4.947% due 06/15/2040 | 1798 | 1674 |
|  Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. |
|  4.798% due 07/25/2034 •  | 2900 | 2903 |
|  4.968% due 01/25/2035 •  | 3200 | 3202 |
|  Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. |
|  4.768% due 04/20/2033 •  | 1280 | 1281 |
|  GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. |
|  4.818% due 10/20/2034 •  | 1000 | 1001 |
|  Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. |
|  4.778% due 04/20/2035 •  | 3600 | 3601 |
|  Greywolf CLO III Ltd. | Greywolf CLO III Ltd. | Greywolf CLO III Ltd. |
|  4.899% due 04/22/2033 •  | 3737 | 3741 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. |
|  4.661% due 01/16/2033 •  | 490 | 490 |
|  4.818% due 10/20/2034 •  | 3000 | 3004 |
|  Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. |
|  4.788% due 07/25/2034 •  | 3300 | 3303 |
|  Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. |
|  4.938% due 07/25/2035 •  | 10500 | 10514 |
|  Labrador Aviation Finance Ltd. | Labrador Aviation Finance Ltd. | Labrador Aviation Finance Ltd. |
|  4.300% due 01/15/2042 | 3262 | 3347 |
|  Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. |
|  4.919% due 10/22/2034 •  | 4000 | 4006 |
|  MAST Ltd. | MAST Ltd. | MAST Ltd. |
|  5.134% due 02/15/2051 | 5964 | 5875 |
|  METAL LLC | METAL LLC | METAL LLC |
|  4.581% due 10/15/2042 | 5838 | 4086 |
|  Northwoods Capital 25 Ltd. | Northwoods Capital 25 Ltd. | Northwoods Capital 25 Ltd. |
|  4.788% due 07/20/2034 •  | 1100 | 1101 |
|  Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. |
|  4.864% due 06/15/2031 •  | 1653 | 1655 |
|  Octagon Investment Partners 40 Ltd. | Octagon Investment Partners 40 Ltd. | Octagon Investment Partners 40 Ltd. |
|  4.708% due 01/20/2035 •  | 3000 | 3001 |
|  Pikes Peak CLO 2 | Pikes Peak CLO 2 | Pikes Peak CLO 2 |
|  4.888% due 10/11/2034 •  | 3215 | 3219 |
|  Pikes Peak CLO 4 | Pikes Peak CLO 4 | Pikes Peak CLO 4 |
|  4.882% due 07/15/2034 •  | 2000 | 2003 |
|  Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. |
|  4.868% due 07/20/2035 •  | 1800 | 1801 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  0.000% due 03/15/2055 «(g) | 3 | 41 |
|  0.010% due 11/16/2054 | 3 | 15 |
|  4.780% due 03/15/2055 | 2400 | 2377 |
|  4.849% due 11/16/2054 « | 6710 | 6710 |
|  4.872% due 03/15/2055 •  | 5122 | 5132 |
|  4.960% due 03/15/2055 | 46472 | 46839 |
|  5.100% due 03/15/2055 | 2400 | 2418 |
|  5.190% due 11/16/2054 « | 49206 | 48909 |
|  5.260% due 03/15/2055 | 4700 | 4546 |
|  5.71% due 11/16/2054 « | 2959 | 2936 |
|  6.14% due 11/16/2054 « | 592 | 587 |
|  6.93% due 11/16/2054 « | 4733 | 4694 |
|  Sound Point CLO XXIII | Sound Point CLO XXIII | Sound Point CLO XXIII |
|  5.104% due 07/15/2034 •  | 4000 | 4005 |
|  Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. |
|  4.948% due 01/25/2032 •  | 3166 | 3164 |
|  Start II Ltd. | Start II Ltd. | Start II Ltd. |
|  4.089% due 03/15/2044 | 1076 | 1076 |
|  Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC |
|  2.790% due 02/22/2049 | 3874 | 3253 |
|  Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. |
|  4.848% due 04/18/2033 •  | 2900 | 2903 |
|  Trysail CLO Ltd. | Trysail CLO Ltd. | Trysail CLO Ltd. |
|  4.907% due 10/20/2033 •  | 1000 | 1001 |
|  Venture 36 CLO Ltd. | Venture 36 CLO Ltd. | Venture 36 CLO Ltd. |
|  5.059% due 04/20/2032 •  | 1341 | 1343 |
|  Verdelite Static CLO Ltd. | Verdelite Static CLO Ltd. | Verdelite Static CLO Ltd. |
|  4.798% due 07/20/2032 •  | 5411 | 5417 |
|  Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. |
|  4.818% due 04/20/2034 •  | 1500 | 1502 |
|  Wind River CLO Ltd. | Wind River CLO Ltd. | Wind River CLO Ltd. |
|  4.778% due 07/20/2034 •  | 3500 | 3502 |
|  |  | 266450 |
|  Total Asset-Backed Securities<br>(Cost $533,135) | Total Asset-Backed Securities<br>(Cost $533,135) | 463414 |
| SOVEREIGN ISSUES 6.1% | SOVEREIGN ISSUES 6.1% | SOVEREIGN ISSUES 6.1% |
|  Abu Dhabi Government International Bonds | Abu Dhabi Government International Bonds | Abu Dhabi Government International Bonds |
|  3.125% due 04/16/2030 | 12600 | 11995 |
|  Australia Government Bonds | Australia Government Bonds | Australia Government Bonds |
|  1.000% due 11/21/2031 | 7850 | 4426 |
|  Brazil Government International Bonds | Brazil Government International Bonds | Brazil Government International Bonds |
|  7.125% due 05/13/2054 | 3800 | 3741 |
|  7.250% due 01/12/2056 | 5492 | 5399 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional |
|  0.000% due 07/01/2026 (g) | 17500 | 3272 |
|  0.000% due 10/01/2026 (g) | 28400 | 5136 |
|  Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional |
|  6.000% due 08/15/2060 (i) | 63236 | 10422 |
|  Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA |
|  5.875% due 04/30/2029 | 11700 | 12212 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  5.375% due 01/21/2029 | 7600 | 7539 |
|  Eagle Funding Luxco SARL | Eagle Funding Luxco SARL | Eagle Funding Luxco SARL |
|  5.500% due 08/17/2030 | 32700 | 32913 |
|  Export-Import Bank of India | Export-Import Bank of India | Export-Import Bank of India |
|  3.250% due 01/15/2030 | 6000 | 5716 |
|  Indonesia Government International Bonds | Indonesia Government International Bonds | Indonesia Government International Bonds |
|  4.100% due 03/04/2034 | 5900 | 6575 |
|  Israel Government International Bonds | Israel Government International Bonds | Israel Government International Bonds |
|  5.375% due 02/19/2030 | 12600 | 12802 |
|  5.500% due 03/12/2034 | 21100 | 21399 |
|  5.750% due 03/12/2054 | 8000 | 7452 |
|  Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro |
|  1.100% due 08/15/2031 (i) | 4803 | 5619 |
|  1.250% due 09/15/2032 (i) | 4983 | 5837 |
|  2.850% due 02/01/2031 | 11500 | 13049 |
|  Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds |
|  2.200% due 03/20/2064 | 2391000 | 10442 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.100% due 09/20/2054 | 364700 | 1667 |
|  2.300% due 12/20/2054 | 156300 | 748 |
|  2.400% due 03/20/2055 | 1103000 | 5393 |
|  3.200% due 09/20/2055 | 8260000 | 47838 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | 5480000 | 28687 |
|  2.400% due 03/20/2045 | 2867300 | 15965 |
|  2.700% due 09/20/2045 | 286550 | 1662 |
|  Kuwait International Government Bonds | Kuwait International Government Bonds | Kuwait International Government Bonds |
|  3.500% due 03/20/2027 | 14500 | 14376 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  3.771% due 05/24/2061 | 3350 | 2012 |
|  4.500% due 03/19/2034 | 2000 | 2252 |
|  4.750% due 03/22/2031 | 10700 | 10470 |
|  5.625% due 02/09/2034 | 4000 | 3917 |
|  5.625% due 09/22/2035 | 13300 | 12888 |
|  6.625% due 01/29/2038 | 4718 | 4819 |
|  New South Wales Treasury Corp. | New South Wales Treasury Corp. | New South Wales Treasury Corp. |
|  1.750% due 03/20/2034 | 6300 | 3324 |
|  2.000% due 03/08/2033 | 2700 | 1512 |
|  3.500% due 11/20/2037 | 11900 | 6639 |
|  4.750% due 02/20/2037 | 3000 | 1915 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 | 110200 | 30087 |
|  6.150% due 08/12/2032 | 82504 | 24794 |
|  6.900% due 08/12/2037 | 3700 | 1057 |
|  6.950% due 08/12/2031 | 83280 | 25956 |
|  7.300% due 08/12/2033 | 51600 | 16219 |
|  Qatar Government International Bonds | Qatar Government International Bonds | Qatar Government International Bonds |
|  4.400% due 04/16/2050 | 5300 | 4399 |
|  Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. |
|  1.500% due 08/20/2032 | 21000 | 11576 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  8.500% due 01/31/2037 | 51200 | 2828 |
|  8.875% due 02/28/2035 (o) | 1974210 | 114664 |
|  9.000% due 01/31/2040 | 12200 | 679 |
|  Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds |
|  7.100% due 11/19/2036 | 2800 | 2863 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  1.750% due 07/13/2030 | 5700 | 5805 |
|  2.125% due 03/07/2028 | 5000 | 5607 |
|  2.875% due 04/13/2042 | 2300 | 1667 |
|  3.750% due 02/07/2034 | 500 | 500 |
|  5.250% due 03/10/2030 | 140 | 164 |
|  5.250% due 05/30/2032 | 9200 | 10504 |
|  5.375% due 03/22/2031 | 7450 | 8683 |
|  Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds |
|  2.250% due 02/02/2033 | 14100 | 11868 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **93** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** |  | **MARKET<br>VALUE<br>(000S)** |
|  4.125% due 01/12/2029 | $| 45000 | $| 44425 |
|  4.750% due 01/16/2030 |  | 21700 |  | 21704 |
|  5.000% due 01/18/2053 |  | 13700 |  | 11610 |
|  5.125% due 01/13/2028 |  | 26600 |  | 26889 |
|  5.375% due 01/13/2031 |  | 6000 |  | 6135 |
|  Treasury Corp. of Victoria |  |  |  |  |
|  2.000% due 11/20/2037 | AUD | 30600 |  | 14275 |
|  U.K. Gilts |  |  |  |  |
|  4.375% due 07/31/2054 | GBP | 38978 |  | 42959 |
|  Ukraine Government International Bonds | Ukraine Government International Bonds | Ukraine Government International Bonds | Ukraine Government International Bonds | Ukraine Government International Bonds |
|  0.000% due 02/01/2030 þ(h) | $| 165 |  | 97 |
|  0.000% due 02/01/2034 þ(h) |  | 618 |  | 266 |
|  0.000% due 02/01/2035 þ(h) |  | 522 |  | 242 |
|  0.000% due 02/01/2036 þ(h) |  | 435 |  | 202 |
|  4.500% due 02/01/2029 þ |  | 2120 |  | 1495 |
|  4.500% due 02/01/2034 þ |  | 909 |  | 487 |
|  Total Sovereign Issues (Cost $810,055) | Total Sovereign Issues (Cost $810,055) | Total Sovereign Issues (Cost $810,055) | Total Sovereign Issues (Cost $810,055) | 802736 |
|  |  | **SHARES** |  |  |
| COMMON STOCKS 0.0% | COMMON STOCKS 0.0% | COMMON STOCKS 0.0% | COMMON STOCKS 0.0% | COMMON STOCKS 0.0% |
| CONSUMER DISCRETIONARY 0.0% | CONSUMER DISCRETIONARY 0.0% | CONSUMER DISCRETIONARY 0.0% | CONSUMER DISCRETIONARY 0.0% | CONSUMER DISCRETIONARY 0.0% |
|  Desarrolladora Homex SAB de CV «(e) |  | 441790 |  | 0 |
| FINANCIALS 0.0% |  |  |  |  |
|  Stichting Administratiekantoor «(e) | Stichting Administratiekantoor «(e) | 11933 |  | 0 |
| INDUSTRIALS 0.0% |  |  |  |  |
|  Drillco Holdings Luxembourg SA «(m) |  | 184946 |  | 4254 |
|  Foresea Holdings SA « |  | 97 | 2 | 2 |
|  Westmoreland Mining Holdings «(e)(m) |  | 47724 | 28 | 28 |
|  Westmoreland Mining LLC «(e)(m) |  | 48144 | 205 | 205 |
|  |  |  | 4489 | 4489 |
| MATERIALS 0.0% | MATERIALS 0.0% | MATERIALS 0.0% | MATERIALS 0.0% | MATERIALS 0.0% |
|  Petra Diamonds Ltd. |  | 1042150 | 229 | 229 |
| REAL ESTATE 0.0% | REAL ESTATE 0.0% | REAL ESTATE 0.0% | REAL ESTATE 0.0% | REAL ESTATE 0.0% |
|  Kaisa Group Holdings Ltd. (e) |  | 28186051 | 320 | 320 |
|  MNSN Holdings, Inc. «(e)(m) |  | 9896 | 613 | 613 |
|  |  |  | 933 | 933 |
|  Total Common Stocks (Cost $9,499) | Total Common Stocks (Cost $9,499) | Total Common Stocks (Cost $9,499) | 5651 | 5651 |
| WARRANTS 0.0% | WARRANTS 0.0% | WARRANTS 0.0% | WARRANTS 0.0% | WARRANTS 0.0% |
| ENERGY 0.0% | ENERGY 0.0% | ENERGY 0.0% | ENERGY 0.0% | ENERGY 0.0% |
|  Constellation Oil Services Holding SA - Exp. 06/10/2071 «(m) |  | 3 | 0 | 0 |
|  Total Warrants (Cost $0) | Total Warrants (Cost $0) | Total Warrants (Cost $0) | 0 | 0 |
| CONVERTIBLE PREFERRED SECURITIES 0.1% | CONVERTIBLE PREFERRED SECURITIES 0.1% | CONVERTIBLE PREFERRED SECURITIES 0.1% | CONVERTIBLE PREFERRED SECURITIES 0.1% | CONVERTIBLE PREFERRED SECURITIES 0.1% |
| BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  7.500% (j) |  | 7750 | 8951 | 8951 |
|  Total Convertible Preferred Securities<br>(Cost $5,523) | Total Convertible Preferred Securities<br>(Cost $5,523) | Total Convertible Preferred Securities<br>(Cost $5,523) | Total Convertible Preferred Securities<br>(Cost $5,523) | 8951 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| PREFERRED SECURITIES 3.3% | PREFERRED SECURITIES 3.3% | PREFERRED SECURITIES 3.3% |
| BANKING & FINANCE 3.2% | BANKING & FINANCE 3.2% | BANKING & FINANCE 3.2% |
|  American AgCredit Corp. | American AgCredit Corp. | American AgCredit Corp. |
|  5.250% due 06/15/2026 •(j) | 14000000 | 14078 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  8.000% due 02/01/2034 •(j)(k) | 7800000 | 8229 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  5.875% due 03/15/2028 •(j) | 58483000 | 58656 |
|  Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. |
|  4.625% due 09/20/2026 •(j) | 775000 | 772 |
|  Brighthouse Holdings LLC | Brighthouse Holdings LLC | Brighthouse Holdings LLC |
|  6.500% due 07/27/2037 þ(j) | 8000000 | 6810 |
|  CaixaBank SA | CaixaBank SA | CaixaBank SA |
|  5.875% due 10/09/2027 •(j)(k) | 2000000 | 2347 |
|  8.250% due 03/13/2029 •(j)(k) | 3000000 | 3738 |
|  Capital Farm Credit ACA | Capital Farm Credit ACA | Capital Farm Credit ACA |
|  8.393% due 06/15/2026 •(j) | 35500000 | 35400 |
|  Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. |
|  4.000% due 12/01/2030 •(j) | 21000000 | 19451 |
|  Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
|  6.875% due 12/31/2099 | 11950000 | 12040 |
|  6.950% due 02/15/2030 •(j) | 23625000 | 23820 |
|  CoBank ACB | CoBank ACB | CoBank ACB |
|  4.250% due 01/01/2027 •(j) | 7900000 | 7775 |
|  6.250% due 10/01/2026 •(j) | 9300000 | 9326 |
|  6.450% due 10/01/2027 •(j) | 5000000 | 5040 |
|  7.125% due 01/01/2030 •(j) | 5000000 | 5153 |
|  Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |
|  6.500% due 12/31/2099 þ(j) | 12627500 | 16173 |
|  Encina Private Credit LLC « | 3793 | 0 |
|  Farm Credit Bank of Texas | Farm Credit Bank of Texas | Farm Credit Bank of Texas |
|  6.200% due 06/15/2028 •(j) | 3000000 | 2984 |
|  7.000% due 09/15/2030 •(j) | 5000000 | 5140 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  3.650% due 08/10/2026 •(j) | 9000000 | 8922 |
|  6.850% due 02/10/2030 •(j) | 19600000 | 19978 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  3.650% due 06/01/2026 •(j) | 14000000 | 13946 |
|  4.625% due 06/01/2026 (j) | 327000 | 6252 |
|  6.437% (TSFR3M + 2.745%) due 07/01/2026 ~(j) | 32000000 | 32053 |
|  6.500% due 04/01/2030 •(j) | 20000000 | 20536 |
|  6.875% due 06/01/2029 •(j) | 2000000 | 2082 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  5.875% due 09/15/2026 ~(j) | 3000000 | 2984 |
|  6.500% due 10/15/2027 (j) | 389400 | 9684 |
|  6.625% due 10/15/2029 (j) | 92000 | 2322 |
|  7.096% (TSFR3M + 3.422%) due 06/15/2026 ~(j)(o) | 10280000 | 10386 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  10.250% ~ | 8561 | 1450 |
|  PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc. |
|  3.400% due 09/15/2026 •(j) | 5300000 | 5222 |
|  6.250% due 03/15/2030 •(j) | 2900000 | 2933 |
|  State Street Corp. | State Street Corp. | State Street Corp. |
|  6.700% due 03/15/2029 •(j) | 8500000 | 8662 |
|  U.S. Bancorp | U.S. Bancorp | U.S. Bancorp |
|  5.300% due 04/15/2027 •(j) | 5045000 | 5021 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  4.250% due 09/15/2026 (j) | 678800 | 11709 |
|  6.850% due 09/15/2029 •(j) | 12000000 | 12435 |
|  7.625% due 09/15/2028 •(j) | 5800000 | 6108 |
|  |  | 419617 |
| INDUSTRIALS 0.1% | INDUSTRIALS 0.1% | INDUSTRIALS 0.1% |
|  Land O' Lakes, Inc. | Land O' Lakes, Inc. | Land O' Lakes, Inc. |
|  7.000% due 09/18/2028 (j) | 4600000 | 3941 |
|  SVB Financial Trust | SVB Financial Trust | SVB Financial Trust |
|  0.000% due 11/07/2032 (g) | 400000 | 26 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  11.000% due 11/07/2032 | $— | 11280 | $— | 5330 |
|  |  |  |  | 9297 |
|  Total Preferred Securities (Cost $451,493) | Total Preferred Securities (Cost $451,493) | Total Preferred Securities (Cost $451,493) |  | 428914 |
|  | **SHARES** | **SHARES** |  |  |
| SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% |
| MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (l) |  | 11367114 |  | 11367 |
|  | **PRINCIPAL<br>AMOUNT<br>(000s)** | **PRINCIPAL<br>AMOUNT<br>(000s)** |  |  |
| REPURCHASE AGREEMENTS (n) 0.3% | REPURCHASE AGREEMENTS (n) 0.3% | REPURCHASE AGREEMENTS (n) 0.3% | REPURCHASE AGREEMENTS (n) 0.3% | REPURCHASE AGREEMENTS (n) 0.3% |
|  |  |  |  | 35026 |
| U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% |
|  3.666% due 04/07/2026 - 05/26/2026 (f)(g)(s) | $— | 759 |  | 756 |
| Total Short-Term Instruments<br> (Cost $46,720) | Total Short-Term Instruments<br> (Cost $46,720) | Total Short-Term Instruments<br> (Cost $46,720) | 47149 | 47149 |
| Total Investments in Securities<br> (Cost $15,782,301) | Total Investments in Securities<br> (Cost $15,782,301) | Total Investments in Securities<br> (Cost $15,782,301) | 15224135 | 15224135 |
|  | **SHARES** | **SHARES** |  |  |
| INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III |  | 413123 |  | 4023 |
| Total Short-Term Instruments<br>(Cost $4,023) | Total Short-Term Instruments<br>(Cost $4,023) | Total Short-Term Instruments<br>(Cost $4,023) |  | 4023 |
| Total Investments in Affiliates<br>(Cost $4,023) | Total Investments in Affiliates<br>(Cost $4,023) | Total Investments in Affiliates<br>(Cost $4,023) |  | 4023 |
| Total Investments 116.1%<br>(Cost $15,786,324) | Total Investments 116.1%<br>(Cost $15,786,324) | Total Investments 116.1%<br>(Cost $15,786,324) | $— | 15228158 |
|  Financial Derivative<br>Instruments (p)(r) 0.6%<br> (Cost or Premiums, net $153,810) | Financial Derivative<br>Instruments (p)(r) 0.6%<br> (Cost or Premiums, net $153,810) | Financial Derivative<br>Instruments (p)(r) 0.6%<br> (Cost or Premiums, net $153,810) |  | 83080 |
| Other Assets and Liabilities, net (16.7)% | Other Assets and Liabilities, net (16.7)% | Other Assets and Liabilities, net (16.7)% |  | (2192361) |
| Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $— | 13118877 |

---

---

| | | |
|:---|:---|:---|
| **94** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

^ Security is in default.

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Payment in-kind security.

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

(e) Security did not produce income within the last twelve months.

(f) Coupon represents a weighted average yield to maturity.

(g) Zero coupon security.

(h) Security becomes interest bearing at a future date.

(i) Principal amount of security is adjusted for inflation.

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

(k) Contingent convertible security.

(l) Coupon represents a 7-Day Yield.

&nbsp;&nbsp;&nbsp;&nbsp;(m) RESTRICTED SECURITIES:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Issuer Description | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  MNSN Holdings, Inc. | 04/19/2022 - 04/26/2022 | $192 | $614 | 0.00% |
|  Pinnacol Assurance 8.625% 06/25/2034 | 06/23/2014 | 6000 | 6371 | 0.05 |
|  Royal Bank of Scotland International Ltd. 4.660% 12/16/2028 | 11/18/2025 | 10000 | 9872 | 0.08 |
|  Westmoreland Mining Holdings | 12/08/2014 | 1393 | 28 | 0.00 |
|  Constellation Oil Services Holding SA - Exp.06/10/2071 | 06/10/2022 | 0 | 0 | 0.00 |
|  Constellation Pharmaceutical, Inc.5.550% 07/01/2033 | 01/16/2025 | 4762 | 4879 | 0.04 |
|  Westmoreland Mining LLC | 06/30/2023 | 319 | 205 | 0.00 |
|  Hardwood Funding LLC4. 980% 06/07/2030 | 03/11/2025 | 3900 | 3911 | 0.03 |
|  Hardwood Funding LLC5.160% 06/07/2032 | 03/11/2025 | 3900 | 3925 | 0.03 |
|  Hardwood Funding LLC4. 840% 06/07/2028 | 03/11/2025 | 3900 | 3905 | 0.03 |
|  Credit Opportunities Partners LLC 6.740% 03/20/2030 | 02/20/2025 | 3800 | 3742 | 0.03 |
|  Credit Opportunities Partners LLC 6.520% 03/20/2028 | 02/20/2025 | 3200 | 3174 | 0.02 |
|  National Football League 5.250% 10/05/2034 | 06/27/2025 | 6800 | 6785 | 0.05 |
|  National Football League 5.420% 10/05/2037 | 06/27/2025 | 2300 | 2295 | 0.02 |
|  National Football League 5.250% 10/05/2034 | 06/27/2025 | 12600 | 12558 | 0.10 |
|  National Football League 5.420% 10/05/2037 | 06/27/2025 | 4600 | 4587 | 0.03 |
|  Flourish Century Holdings Ltd. 6.600% 02/04/2049 | 02/03/2026 | 0 | 0 | 0.00 |
|  Grifols SA 7.500% 05/01/2030 | 06/25/2025 - 08/20/2025 | 9709 | 9590 | 0.07 |
|  Alfa-Bank CJSC 5.860% 10/21/2026 | 10/27/2025 | 2912 | 2912 | 0.02 |
|  Dorchester LLC 4.610% 01/04/2027 (m) | 12/10/2025 | 6198 | 6126 | 0.05 |
|  Drillco Holdings Luxembourg SA | 06/08/2023 | 3699 | 4252 | 0.03 |
|  Morgan Stanley 0.000% 04/02/2032 | 05/06/2020 | 14283 | 11773 | 0.09 |
|  Stripe Global Holdings, Inc. 1.000% 03/26/2029 | 02/25/2026 | 13000 | 12802 | 0.10 |
|  Stripe Global Holdings, Inc. 5.170% 03/26/2031 | 02/25/2026 | 13000 | 12702 | 0.10 |
|  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130467 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127008 | 0.97% |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(n) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BRC | 6.800% | 03/30/2026 | TBD<sup>(2)</sup> | ZAR 592,684 | Republic of South Africa Government Bonds 8.750% due 02/28/2048 | $(39332) | $35026 | $35039 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39332) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35039 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 95

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(3)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(3)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOS | 2.500% | 03/25/2026 | 04/01/2026 | $(2887) | $(2889) |
|  | 3.500 | 03/25/2026 | 06/12/2026 | (8251) | (8256) |
|  | 3.500 | 03/27/2026 | 06/12/2026 | (27003) | (27016) |
|  BRC | 1.500 | 11/14/2025 | TBD<sup>(4)</sup> | (2154) | (2504) |
|  | 1.650 | 09/17/2025 | TBD<sup>(4)</sup> | (1047) | (1221) |
|  | 2.500 | 03/13/2026 | TBD<sup>(4)</sup> | (1131) | (1499) |
|  | 3.000 | 02/04/2026 | TBD<sup>(4)</sup> | $(1230) | (1236) |
|  | 3.250 | 03/27/2026 | TBD<sup>(4)</sup> | (1858) | (2460) |
|  | 3.550 | 12/12/2025 | TBD<sup>(4)</sup> | $(9880) | (9987) |
|  | 6.700 | 03/30/2026 | TBD<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(592684) | (35039) |
|  JML | 1.450 | 03/26/2026 | TBD<sup>(4)</sup> | (1204) | (1393) |
|  | 2.500 | 03/13/2026 | TBD<sup>(4)</sup> | (2675) | (3545) |
|  | 2.750 | 03/06/2026 | TBD<sup>(4)</sup> | (3353) | (4447) |
|  | 2.750 | 03/26/2026 | TBD<sup>(4)</sup> | (296) | (392) |
|  JPS | 3.510 | 04/01/2026 | 04/02/2026 | $(8916) | (8916) |
|  | 3.660 | 04/01/2026 | 04/07/2026 | (2906) | (2906) |
|  | 3.680 | 03/25/2026 | 04/01/2026 | (1147) | (1147) |
|  | 3.700 | 03/26/2026 | 04/01/2026 | (7322) | (7326) |
|  | 3.760 | 04/01/2026 | 04/02/2026 | (2254) | (2254) |
|  | 3.770 | 03/31/2026 | 04/01/2026 | (3743) | (3743) |
|  MEI | 2.000 | 03/25/2026 | 06/12/2026 | (4358) | (4359) |
|  NOM | 2.500 | 12/12/2025 | TBD<sup>(4)</sup> | (2174) | (2191) |
|  | 3.500 | 12/12/2025 | TBD<sup>(4)</sup> | (10106) | (10214) |
|  SAL | 2.250 | 03/20/2026 | 05/01/2026 | (3126) | (3129) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148069) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(5)</sup> |
|  Global/Master Repurchase Agreement |  |  |  |  |  |  |
|  BOS | $0 | $(38161) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38161) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40174 | $2013 |
|  BRC | 35039 | (53946) | 0 | (18907) | 14999 | (3908) |
|  JML | 0 | (9777) | 0 | (9777) | 9385 | (392) |
|  JPS | 0 | (26292) | 0 | (26292) | 12140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14152) |
|  MEI | 0 | (4359) | 0 | (4359) | 4482 | 123 |
|  NOM | 0 | (12405) | 0 | (12405) | 12821 | 416 |
|  SAL | 0 | (3129) | 0 | (3129) | 3284 | 155 |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35039 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148069) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  Corporate Bonds & Notes | $0 | $0 | $(39632) | $(41088) | $(80720) |
|  U.S. Treasury Obligations | (15105) | 0 | 0 | 0 | (15105) |
|  Sovereign Issues | 0 | 0 | 0 | (35039) | (35039) |
|  Preferred Securities | 0 | 0 | (3129) | 0 | (3129) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15105) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42761) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76127) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133993) |
|  Payable for reverse repurchase agreements<sup>(6)</sup> | Payable for reverse repurchase agreements<sup>(6)</sup> | Payable for reverse repurchase agreements<sup>(6)</sup> | Payable for reverse repurchase agreements<sup>(6)</sup> | Payable for reverse repurchase agreements<sup>(6)</sup> | $(133993) |

---

(o) Securities with an aggregate market value of $136,374 and cash of $242 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> Open maturity repurchase agreement.

---

| | | |
|:---|:---|:---|
| **96** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

<sup>(3)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(98561) at a weighted average interest rate of 3.959%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(4)</sup> Open maturity reverse repurchase agreement.

<sup>(5)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(6)</sup> Unsettled reverse repurchase agreements liability of $(14076) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(p) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### PURCHASED OPTIONS:

#### FUTURE STYLED OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS<sup>(1)</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Cost | Market<br>Value |
|  Call - CME 3-Month SOFR Active Contract June 2026 Futures | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.500 | 06/12/2026 | 3167 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7918 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479 | $102 |
|  Call - CME 3-Month SOFR Active Contract June 2026 Futures | 98.000 | 06/12/2026 | 3302 | 8255 | 1609 | 64 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $4088 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |

---

#### WRITTEN OPTIONS:

#### FUTURE STYLED OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS<sup>(1)</sup>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - Eurex Euro-Bund 10-Year Bond April Futures | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125.500 | 04/24/2026 | 80 | $80 | $(33) | $(84) |
|  Call - Eurex Euro-Bund 10-Year Bond April Futures |  | 128.000 | 04/24/2026 | 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | (28) | (10) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94) |

---

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110.000 | 04/24/2026 | 167 | $167 | $(57) | $(62) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 167 | 167 | (39) | (22) |
|  Call - CME 3-Month SOFR Active Contract June 2026 Futures | 98.500 | 06/12/2026 | 3167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7918 | (866) | (21) |
|  |  |  |  |  | $(962) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105) |
|  Total Written Options |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1023) | $(199) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract December Futures  | 03/2027 | 2619 | $630950 | $2250 | $229 | $0 |
|  3-Month SOFR Active Contract December Futures  | 03/2028 | 2407 | 581260 | (1234) | 120 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 574 | 138528 | (452) | 29 | 0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 1001 | 74419 | (216) | 700 | 0 |
|  Euro-Bobl June Futures  | 06/2026 | 63 | 8405 | (132) | 34 | 0 |
|  Euro-Bund June Futures  | 06/2026 | 228 | 33045 | (826) | 240 | 0 |
|  Long Guilt June Futures  | 06/2026 | 1668 | 193820 | (9665) | 1457 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 12416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575641 | (18378) | 970 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 8115 | 901145 | (13982) | 1902 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 1859 | 211026 | (4687) | 552 | 0 |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 6290 | 733178 | (22922) | 1376 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70244) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Canada Government 10-Year Bond June Futures  | 06/2026 | 109 | $(9403) | $173 | $0 | $(38) |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 4360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(471663) | 6535 | 0 | (613) |
|  |  |  |  | $6708 | $0 | $(651) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63536) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(651) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 97

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>(Pay) Rate | **Payment<br>Frequency** | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>(Pay) Rate | **Payment<br>Frequency** | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  Ford Motor Co. | (5.000)% | Quarterly | 06/20/2030 | 1.559% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18100 | $(2698) | $303 | $(2395) | $0 | $(44) |
|  General Motors Co. | (5.000) | Quarterly | 06/20/2030 | 1.057 | 26100 | (4468) | 455 | (4013) | 0 | (81) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7166) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6408) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(125) |

---

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(3)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup> | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  AES Corp. | 5.000% | Quarterly | 06/20/2026 | 0.179% | $2100 | $70 | $(44) | $26 | $0 | $0 |
|  AES Corp. | 5.000 | Quarterly | 12/20/2028 | 0.658 | 5000 | 644 | (73) | 571 | 1 | 0 |
|  American International Group, Inc. | 1.000 | Quarterly | 12/20/2026 | 0.185 | 3900 | 38 | (14) | 24 | 0 | 0 |
|  American International Group, Inc. | 1.000 | Quarterly | 12/20/2027 | 0.271 | 10500 | 169 | (37) | 132 | 0 | (1) |
|  AT&T, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.234 | 32200 | 172 | (106) | 66 | 2 | 0 |
|  AT&T, Inc. | 1.000 | Quarterly | 06/20/2028 | 0.395 | 15000 | 234 | (34) | 200 | 5 | 0 |
|  Bank of America Corp. | 1.000 | Quarterly | 12/20/2026 | 0.317 | 24400 | 316 | (188) | 128 | 3 | 0 |
|  Barclays PLC | 1.000 | Quarterly | 12/20/2030 | 0.807 | 6400 | 123 | (58) | 65 | 4 | 0 |
|  Expedia Group, Inc. | 1.000 | Quarterly | 12/20/2026 | 0.144 | $2200 | 23 | (9) | 14 | 0 | 0 |
|  General Electric Co. | 1.000 | Quarterly | 06/20/2026 | 0.051 | 8500 | 55 | (34) | 21 | 0 | 0 |
|  Glencore Finance | 5.000 | Quarterly | 06/20/2031 | 1.059 | 14000 | 3519 | (435) | 3084 | 6 | 0 |
|  Goldman Sachs Group, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.312 | $2400 | 12 | (8) | 4 | 0 | 0 |
|  Hess Corp. | 1.000 | Quarterly | 06/20/2026 | 0.076 | 6900 | 44 | (28) | 16 | 0 | 0 |
|  Hess Corp. | 1.000 | Quarterly | 12/20/2026 | 0.080 | 4800 | 51 | (18) | 33 | 0 | 0 |
|  Lennar Corp. | 5.000 | Quarterly | 12/20/2026 | 0.293 | 2900 | 163 | (60) | 103 | 0 | 0 |
|  Lloyds Banking Group PLC | 1.000 | Quarterly | 12/20/2030 | 0.760 | 11400 | 269 | (125) | 144 | 3 | 0 |
|  MGM Resorts International | 5.000 | Quarterly | 12/20/2029 | 1.607 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | 1649 | (152) | 1497 | 26 | 0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | 34300 | 167 | (102) | 65 | 1 | 0 |
|  National Rural Utilities Cooperative Finance Corp. | 1.000 | Quarterly | 12/20/2026 | 0.067 | 2200 | 24 | (9) | 15 | 0 | 0 |
|  NextEra Energy Capital Holdings, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.138 | 9800 | 58 | (36) | 22 | 0 | 0 |
|  Oracle Corp. | 1.000 | Quarterly | 06/20/2030 | 1.622 | 17500 | 349 | (756) | (407) | 35 | 0 |
|  T-Mobile USA, Inc. | 5.000 | Quarterly | 06/20/2028 | 0.255 | 3800 | 467 | (73) | 394 | 2 | 0 |
|  Tesco PLC | 1.000 | Quarterly | 12/20/2027 | 0.212 | 5350 | 112 | (27) | 85 | 0 | (1) |
|  Tesco PLC | 1.000 | Quarterly | 06/20/2028 | 0.247 | 4100 | 98 | (19) | 79 | 1 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.221 | $2500 | 14 | (9) | 5 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2026 | 0.240 | 6200 | 53 | (17) | 36 | 1 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2027 | 0.344 | 400 | 6 | (1) | 5 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 06/20/2028 | 0.368 | 8300 | 134 | (19) | 115 | 3 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2028 | 0.423 | 2000 | 36 | (5) | 31 | 0 | 0 |
|  Volkswagen International Finance NV | 1.000 | Quarterly | 06/20/2028 | 0.426 | 8900 | 123 | 9 | 132 | 2 | 0 |
|  Électricité de France SA | 1.000 | Quarterly | 06/20/2030 | 0.631 | 15700 | 272 | 1 | 273 | 0 | (6) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9464 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2486) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6978 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  CDX.HY-44 5-Year Index | (5.000)% | Quarterly | 06/20/2030 | $13563 | $(1096) | $283 | $(813) | $0 | $(115) |
|  CDX.HY-45 5-Year Index | (5.000) | Quarterly | 12/20/2030 | 58014 | (4534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1382 | (3152) | 0 | (521) |
|  CDX.IG-45 5-Year Index | (1.000) | Quarterly | 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280100 | (22234) | (879) | (23113) | 0 | (2506) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27864) | $786 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27078) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3142) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(3)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  CDX.IG-44 5-Year Index | 1.000% | Quarterly | 06/20/2030 | $25400 | $585 | $(122) | $463 | $45 | $0 |
|  CDX.IG-45 5-Year Index | 1.000 | Quarterly | 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3986900 | 88472 | (16486) | 71986 | 7806 | 0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 1907525 | 32071 | 1491 | 33562 | 4085 | 0 |
|  CDX.iTraxx Crossover 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 263778 | 6598 | (2030) | 4568 | 320 | 0 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127726 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17147) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110579 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12256 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

98 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | Floating Rate Index | Fixed Rate | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| **Pay/Receive <br>Floating Rate** | Floating Rate Index | Fixed Rate | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 72580 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1486) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1608) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3094) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | $0 |
| Receive<sup>(7)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/16/2036 | 140100 | 5430 | 1902 | 7332 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(559) |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 03/18/2056 | 11200 | 44 | 694 | 738 | 0 | (55) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505900 | (7618) | 4581 | (3037) | 0 | (476) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 16800 | (322) | 161 | (161) | 0 | (17) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.325 | Annual | 08/31/2030 | 458516 | 1498 | 3050 | 4548 | 0 | (455) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 13300 | 0 | 126 | 126 | 0 | (13) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 16000 | 0 | 132 | 132 | 0 | (16) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.407 | Annual | 08/31/2030 | 6600 | 0 | 45 | 45 | 0 | (7) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.422 | Annual | 08/31/2030 | 7300 | 0 | 46 | 46 | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2031 | 84400 | (257) | 722 | 465 | 0 | (90) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.564 | Annual | 01/31/2033 | 5400 | 0 | 45 | 45 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.994 | Annual | 07/02/2034 | 46300 | (1343) | 679 | (664) | 0 | (47) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.586 | Annual | 08/19/2034 | 13800 | 30 | 207 | 237 | 0 | (13) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.555 | Annual | 08/28/2034 | 15300 | 70 | 228 | 298 | 0 | (15) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.514 | Annual | 09/04/2034 | 17500 | 137 | 259 | 396 | 0 | (17) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 10900 | (286) | 155 | (131) | 0 | (10) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 | 18400 | (415) | 258 | (157) | 0 | (18) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 | 122700 | 245 | 1640 | 1885 | 0 | (106) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 | 122200 | (108) | 1407 | 1299 | 0 | (107) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 | 208501 | 532 | 1438 | 1970 | 0 | (182) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 8600 | 88 | 128 | 216 | 0 | (7) |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.712 | Annual | 11/15/2035 | 6400 | 0 | 69 | 69 | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 | 7300 | 0 | 109 | 109 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.755 | Annual | 02/15/2036 | 15200 | 0 | 131 | 131 | 0 | (12) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 | 17600 | (35) | 202 | 167 | 0 | (14) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 17300 | (36) | 161 | 125 | 0 | (14) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 | 22100 | (656) | 406 | (250) | 0 | (18) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.066 | Annual | 02/15/2046 | 2700 | 0 | 37 | 37 | 5 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.998 | Annual | 11/15/2053 | 6600 | 0 | 174 | 174 | 23 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | 11/15/2053 | 3400 | 0 | 83 | 83 | 12 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | 11/15/2053 | 3400 | 0 | 80 | 80 | 12 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.082 | Annual | 11/15/2053 | 3000 | 0 | 38 | 38 | 11 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 67400 | 5586 | 2039 | 7625 | 240 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 02/15/2055 | 4200 | 235 | 113 | 348 | 16 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 02/15/2055 | 25600 | 758 | 702 | 1460 | 95 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.848 | Annual | 02/15/2055 | 233200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10412 | 1236 | 11648 | 870 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.915 | Annual | 02/15/2055 | 19400 | 208 | 540 | 748 | 73 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.943 | Annual | 02/15/2055 | 18000 | 108 | 503 | 611 | 67 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.945 | Annual | 02/15/2055 | 18800 | 106 | 525 | 631 | 70 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.052 | Annual | 02/15/2056 | 3600 | 0 | 51 | 51 | 14 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.059 | Annual | 02/15/2056 | 3600 | 0 | 46 | 46 | 14 | 0 |
| Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 116800 | 2039 | 700 | 2739 | 445 | 0 |
| Pay | 1-Year BRL-CDI | 12.030 | Maturity | 01/04/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741500 | (3172) | (1335) | (4507) | 199 | 0 |
| Pay | 1-Year BRL-CDI | 13.927 | Maturity | 01/04/2027 | 885800 | (583) | (1006) | (1589) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68) |
| Pay | 1-Year BRL-CDI | 13.359 | Maturity | 01/02/2029 | 461900 | (42) | (1047) | (1089) | 535 | 0 |
| Pay | 1-Year BRL-CDI | 13.402 | Maturity | 01/02/2029 | 649700 | (39) | (1466) | (1505) | 753 | 0 |
| Pay | 1-Year BRL-CDI | 13.657 | Maturity | 01/02/2031 | 200200 | (77) | 71 | (6) | 267 | 0 |
| Pay | 1-Year BRL-CDI | 13.681 | Maturity | 01/02/2031 | 81400 | (65) | 80 | 15 | 115 | 0 |
| Pay | 1-Year BRL-CDI | 13.725 | Maturity | 01/02/2031 | 1850 | 0 | 1 | 1 | 3 | 0 |
| Pay | 1-Year BRL-CDI | 13.899 | Maturity | 01/02/2031 | 15700 | 0 | 17 | 17 | 21 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.250 | Semi-Annual | 03/19/2030 | 444100 | 5186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 12/17/2035 | 114700 | (1846) | (4539) | (6385) | 1018 | 0 |
| Pay | 6-Month EUR-EURIBOR | 0.650 | Annual | 05/11/2027 | 26700 | (719) | (63) | (782) | 13 | 0 |
| Pay | 6-Month EUR-EURIBOR | 1.000 | Annual | 05/13/2027 | 69200 | (1426) | (51) | (1477) | 34 | 0 |
| Pay | 6-Month EUR-EURIBOR | 1.000 | Annual | 05/18/2027 | 31400 | (655) | (22) | (677) | 16 | 0 |
| Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 09/16/2031 | 170940 | (399) | (3619) | (4018) | 855 | 0 |
| Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 | 51200 | (1413) | (450) | (1863) | 452 | 0 |
| Receive | 6-Month EUR-EURIBOR | 0.000 | Annual | 03/17/2053 | 32440 | 3113 | 18378 | 21491 | 0 | (171) |
| Receive<sup>(7)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 112040 | 1732 | 1091 | 2823 | 0 | (1250) |
|  |  |  |  |  |  | $14559 | $17983 | $32542 | $8623 | $(3781) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $116719 | $(106) | $116613 | $20974 | $(7056) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 99

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Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | Total | Market Value | Variation Margin<br>Liability<sup>(8)</sup> | Variation Margin<br>Liability<sup>(8)</sup> | Total |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20974 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28749 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(722) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7056) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7977) |

---

(q) Securities with an aggregate market value of $355,167 and cash of $17,939 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> Future styled option variation margin asset of $78 and liability of $(2) is outstanding at period end. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> 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. 

<sup>(7)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

<sup>(8)</sup> Unsettled variation margin liability of $(71) for closed futures is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(r) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Unrealized Appreciation/<br>(Depreciation) | Unrealized Appreciation/<br>(Depreciation) |
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Asset | Liability |
|  AZD | 04/2026 | 151559 | $110643 | $1689 | $0 |
|  | 04/2026 | 82033 | 49170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 | 0 |
|  | 04/2026 | 74 | 58 | 1 | 0 |
|  BOA | 04/2026 | 49475 | 9468 | 0 | (84) |
|  | 04/2026 | 22799 | 3305 | 0 | (5) |
|  | 04/2026 | 25984 | 30249 | 222 | (7) |
|  | 04/2026 | 568525 | 6055 | 51 | 0 |
|  | 04/2026 | 1720731 | 1176 | 32 | 0 |
|  | 04/2026 | 17968 | 4858 | 18 | 0 |
|  | 04/2026 | 51364 | 40184 | 234 | 0 |
|  | 04/2026 | $9478 | 49475 | 73 | 0 |
|  | 04/2026 | 19 | 27 | 0 | 0 |
|  | 04/2026 | 1159 | 7994 | 1 | 0 |
|  | 04/2026 | 8350 | 781315 | 6 | (59) |
|  | 04/2026 | 924 | 17023 | 26 | 0 |
|  | 04/2026 | 25151 | 92896 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127) |
|  | 05/2026 | 1273 | 1106 | 7 | 0 |
|  | 06/2026 | 21054 | $6815 | 104 | 0 |
|  | 06/2026 | 116914 | 6522 | 39 | 0 |
|  | 06/2026 | 15457 | 4568 | 144 | 0 |
|  | 06/2026 | $5199 | 27579 | 55 | 0 |
|  | 06/2026 | 1635 | 5099 | 0 | (10) |
|  | 10/2026 | 1200 | $220 | 0 | (3) |

---

---

| | | |
|:---|:---|:---|
| **100** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  BPS | 04/2026 | 346388 | $66157 | $0 | $(715) |
|  | 04/2026 | 7730 | 1124 | 2 | 0 |
|  | 04/2026 | 20699 | 6704 | 119 | 0 |
|  | 04/2026 | 3667010 | 38965 | 109 | 0 |
|  | 04/2026 | 12923468 | 8663 | 78 | (10) |
|  | 04/2026 | 6931 | 1862 | 0 | (5) |
|  | 04/2026 | 925607 | 28723 | 637 | (11) |
|  | 04/2026 | $10815 | 15482 | 0 | (133) |
|  | 04/2026 | 65824 | 346388 | 1048 | 0 |
|  | 04/2026 | 46456 | 786278299 | 2 | (138) |
|  | 04/2026 | 4939 | 15643 | 37 | 0 |
|  | 04/2026 | 79075 | 7373122 | 172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(956) |
|  | 04/2026 | 1653 | 263600 | 8 | 0 |
|  | 04/2026 | 4668 | 6972263 | 9 | (41) |
|  | 04/2026 | 16953 | 61101 | 0 | (494) |
|  | 04/2026 | 3181 | 29400 | 0 | (75) |
|  | 04/2026 | 10 | 316 | 0 | 0 |
|  | 04/2026 | 1258 | 57486 | 24 | 0 |
|  | 04/2026 | 21702 | 693630 | 3 | (55) |
|  | 04/2026 | 154186 | $9105 | 5 | 0 |
|  | 05/2026 | 15626 | 4939 | 0 | (37) |
|  | 05/2026 | 1761816 | 18620 | 0 | (76) |
|  | 05/2026 | 404657 | 12558 | 0 | (56) |
|  | 05/2026 | $7280 | 38214 | 53 | 0 |
|  | 05/2026 | 9329 | 158794761 | 23 | 0 |
|  | 05/2026 | 1831 | 558 | 0 | (28) |
|  | 05/2026 | 1860 | 61061 | 0 | (4) |
|  | 06/2026 | 55687 | 295071 | 532 | 0 |
|  | 06/2026 | 2493 | 42008431 | 0 | (23) |
|  | 06/2026 | 1295 | 395 | 0 | (16) |
|  | 07/2026 | 5900 | $1100 | 0 | (16) |
|  | 07/2026 | $344 | 105 | 0 | (4) |
|  | 10/2026 | 7900 | $1441 | 0 | (21) |
|  | 06/2027 | $800 | 243 | 0 | (12) |
|  | 05/2029 | 2919 | $10035 | 480 | 0 |
|  | 07/2029 | 610 | 2098 | 100 | 0 |
|  BRC | 04/2026 | 231 | 167 | 1 | 0 |
|  | 04/2026 | 194715 | 263349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5624 | 0 |
|  | 04/2026 | 778883 | 16865 | 0 | (330) |
|  | 04/2026 | $9702 | 34911 | 0 | (298) |
|  | 04/2026 | 6225 | 56478 | 0 | (259) |
|  | 04/2026 | 52968 | 2385767 | 416 | 0 |
|  | 04/2026 | 175292 | $10712 | 366 | 0 |
|  | 05/2026 | 42211 | 907 | 0 | (4) |
|  | 05/2026 | $167 | 231 | 0 | (1) |
|  | 05/2026 | 35 | 28 | 0 | 0 |
|  | 05/2026 | 340 | 15792 | 0 | 0 |
|  | 06/2026 | 276 | $90 | 2 | 0 |
|  BSH | 04/2026 | 16100 | 2895 | 0 | (213) |
|  | 04/2026 | 1388787 | 8698 | 0 | (52) |
|  | 04/2026 | 43351 | 12448 | 0 | (10) |
|  | 04/2026 | $3100 | 16100 | 8 | 0 |
|  | 04/2026 | 67781 | 117411 | 0 | (311) |
|  | 04/2026 | 12412 | 43351 | 46 | 0 |
|  | 05/2026 | 117411 | $67857 | 316 | 0 |
|  | 05/2026 | 13586 | 4011 | 116 | 0 |
|  | 05/2026 | $8698 | 1384602 | 52 | 0 |
|  | 06/2026 | 25190 | $7473 | 262 | 0 |
|  | 10/2026 | 17100 | 3157 | 0 | (8) |
|  CBK | 04/2026 | 45976 | 32309 | 587 | 0 |
|  | 04/2026 | 7815 | 1132 | 0 | (2) |
|  | 04/2026 | 129883 | 20554 | 465 | 0 |
|  | 04/2026 | 36996 | 42847 | 132 | (47) |
|  | 04/2026 | 27132 | 36377 | 465 | 0 |
|  | 04/2026 | 4339039 | 46427 | 603 | 0 |
|  | 04/2026 | 32780 | 3375 | 2 | (12) |
|  | 04/2026 | 93792 | 27386 | 488 | (31) |
|  | 04/2026 | 25830 | 2770 | 41 | 0 |
|  | 04/2026 | 324 | 10 | 0 | 0 |
|  | 04/2026 | 24661 | 773 | 3 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **101** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $3501 | 24130 | $2 | $0 |
|  | 04/2026 | 23210 | 17346 | 0 | (251) |
|  | 04/2026 | 112795 | 10395927 | 94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2751) |
|  | 04/2026 | 8399 | 29081 | 0 | (42) |
|  | 04/2026 | 13969 | $821 | 0 | (3) |
|  | 05/2026 | 38321 | 10806 | 0 | (183) |
|  | 05/2026 | $1987 | 2899 | 13 | 0 |
|  | 05/2026 | 0 | 35 | 0 | 0 |
|  | 06/2026 | 85425 | $27712 | 486 | 0 |
|  | 06/2026 | 18158 | 5224 | 29 | 0 |
|  | 06/2026 | $1714 | 28803475 | 0 | (21) |
|  | 06/2026 | 105276 | 1855830 | 0 | (2341) |
|  | 08/2026 | 57381 | $16061 | 70 | (384) |
|  | 09/2026 | $1882 | 33668 | 0 | (30) |
|  | 10/2026 | 28065 | $8269 | 283 | 0 |
|  | 12/2026 | 11122 | 3174 | 21 | 0 |
|  DUB | 04/2026 | 235545 | 34379 | 181 | 0 |
|  | 04/2026 | 41762 | 13491 | 204 | 0 |
|  | 04/2026 | 1734368 | 18413 | 122 | (24) |
|  | 04/2026 | $99784 | 145458 | 575 | 0 |
|  | 04/2026 | 16575 | 114628 | 67 | 0 |
|  | 04/2026 | 20194 | 1903331 | 134 | (97) |
|  | 04/2026 | 120263 | 153624 | 0 | (776) |
|  | 04/2026 | 8199 | 267799 | 0 | (70) |
|  | 05/2026 | 145458 | $99746 | 0 | (575) |
|  | 05/2026 | 114350 | 16575 | 0 | (68) |
|  | 05/2026 | 153280 | 120263 | 770 | 0 |
|  | 06/2026 | 267253 | 8199 | 46 | 0 |
|  | 06/2026 | 6103 | 192 | 2 | 0 |
|  | 08/2026 | 14001 | 4143 | 148 | 0 |
|  FAR | 04/2026 | 40139 | 28447 | 753 | 0 |
|  | 04/2026 | 352511 | 67440 | 0 | (614) |
|  | 04/2026 | 11869 | 15379 | 535 | 0 |
|  | 04/2026 | 1544039 | 9674 | 0 | (55) |
|  | 04/2026 | 14292 | 4092 | 0 | (15) |
|  | 04/2026 | 12 | 10 | 0 | 0 |
|  | 04/2026 | $67539 | 352511 | 516 | 0 |
|  | 04/2026 | 293971 | 221295 | 0 | (1065) |
|  | 04/2026 | 1729 | 270120 | 0 | (27) |
|  | 04/2026 | 4246 | 14292 | 0 | (139) |
|  | 04/2026 | 10774 | 38883 | 0 | (300) |
|  | 04/2026 | 649 | 829 | 0 | (4) |
|  | 05/2026 | 217302 | $288636 | 1027 | 0 |
|  | 05/2026 | 25988 | 8212 | 0 | (64) |
|  | 05/2026 | 828 | 649 | 4 | 0 |
|  | 05/2026 | $9674 | 1539375 | 54 | 0 |
|  | 06/2026 | 14986 | $4861 | 85 | 0 |
|  | 06/2026 | $67440 | 357215 | 619 | 0 |
|  | 09/2026 | 14372 | $4246 | 150 | 0 |
|  | 09/2026 | $1528 | 26975 | 0 | (44) |
|  GLM | 04/2026 | 791842 | $150959 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1911) |
|  | 04/2026 | 20318 | 6536 | 70 | 0 |
|  | 04/2026 | 58056 | 637 | 23 | 0 |
|  | 04/2026 | 158263 | 4861 | 55 | 0 |
|  | 04/2026 | $143322 | 791842 | 9548 | 0 |
|  | 04/2026 | 3146 | 21602 | 0 | (10) |
|  | 04/2026 | 1081 | 18259744 | 0 | (5) |
|  | 04/2026 | 7813 | 144079 | 221 | 0 |
|  | 04/2026 | 9433 | 308264 | 0 | (79) |
|  | 05/2026 | 232 | 176 | 0 | 0 |
|  | 06/2026 | 38110131 | $2260 | 20 | 0 |
|  | 06/2026 | 22751 | 1277 | 15 | 0 |
|  | 06/2026 | 149734 | 4571 | 3 | 0 |
|  | 06/2026 | $15556 | 82776 | 215 | 0 |
|  | 06/2026 | 4008 | 67827004 | 0 | (20) |
|  | 07/2026 | 8400 | $1557 | 0 | (32) |
|  | 07/2026 | $31279 | 168066 | 512 | 0 |
|  IND | 04/2026 | 374697 | $442436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9343 | 0 |
|  JPM | 04/2026 | 5200 | 996 | 0 | (8) |
|  | 04/2026 | 36407 | 26679 | 506 | 0 |

---

---

| | | |
|:---|:---|:---|
| **102** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | 15117 | $2189 | $0 | $(6) |
|  | 04/2026 | 899607 | 9568 | 68 | 0 |
|  | 04/2026 | 6703176 | 4431 | 0 | (27) |
|  | 04/2026 | 35233 | 9569 | 95 | (17) |
|  | 04/2026 | 102996 | 81727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1618 | 0 |
|  | 04/2026 | 527261 | 11709 | 0 | (155) |
|  | 04/2026 | $984 | 5200 | 19 | 0 |
|  | 04/2026 | 17430 | 120611 | 81 | 0 |
|  | 04/2026 | 19745 | 16822 | 0 | (301) |
|  | 04/2026 | 9568 | 901147 | 21 | 0 |
|  | 04/2026 | 4431 | 6704150 | 27 | 0 |
|  | 04/2026 | 2910 | 53605 | 80 | 0 |
|  | 04/2026 | 1979 | 18960 | 0 | (21) |
|  | 04/2026 | 4094 | 6996 | 0 | (73) |
|  | 04/2026 | 11709 | 527737 | 153 | 0 |
|  | 04/2026 | 820165 | $48802 | 462 | (64) |
|  | 05/2026 | 5072 | 3476 | 0 | (22) |
|  | 05/2026 | 120316 | 17430 | 0 | (82) |
|  | 05/2026 | 129130 | 19920 | 0 | (84) |
|  | 05/2026 | 0 | 25 | 0 | 0 |
|  | 05/2026 | $115 | 18221 | 0 | 0 |
|  | 06/2026 | 13301 | $4305 | 66 | 0 |
|  | 06/2026 | 129060 | 7194 | 38 | 0 |
|  | 06/2026 | $38 | 646948 | 0 | 0 |
|  | 06/2026 | 1546 | 4803 | 0 | (16) |
|  | 07/2026 | 3200 | $592 | 0 | (14) |
|  | 10/2026 | 2200 | 401 | 0 | (7) |
|  MBC | 04/2026 | 17732 | 12436 | 202 | 0 |
|  | 04/2026 | 7910 | 10093 | 200 | 0 |
|  | 04/2026 | 1846 | 340563 | 12 | 0 |
|  | 04/2026 | 5643 | $6484 | 0 | (39) |
|  | 04/2026 | 21215 | 28598 | 517 | 0 |
|  | 04/2026 | 108374416 | 6376 | 0 | (10) |
|  | 04/2026 | 921672 | 5766 | 0 | (41) |
|  | 04/2026 | 5740 | 591 | 0 | (2) |
|  | 04/2026 | 42374 | 24920 | 569 | 0 |
|  | 04/2026 | 62025 | 6637 | 85 | 0 |
|  | 04/2026 | 217099 | 6833 | 241 | 0 |
|  | 04/2026 | $5294 | 7639 | 0 | (24) |
|  | 04/2026 | 7372 | 5798 | 0 | (121) |
|  | 04/2026 | 1274 | 1106 | 5 | 0 |
|  | 04/2026 | 7297 | 5463 | 0 | (66) |
|  | 04/2026 | 9098 | 1440886 | 20 | (39) |
|  | 04/2026 | 9523 | 13936476 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(256) |
|  | 04/2026 | 2339 | 43164 | 68 | 0 |
|  | 04/2026 | 2049 | 19559 | 1 | (30) |
|  | 05/2026 | 340115 | 1846 | 0 | (12) |
|  | 05/2026 | 710 | $73 | 0 | (1) |
|  | 05/2026 | $2392 | 1810 | 5 | 0 |
|  | 05/2026 | 5766 | 918891 | 41 | 0 |
|  | 06/2026 | 14922 | $826 | 0 | (1) |
|  | 06/2026 | $6376 | 108630666 | 11 | 0 |
|  MYI | 04/2026 | 1590 | $17 | 0 | 0 |
|  | 04/2026 | 2550 | 721 | 34 | 0 |
|  | 04/2026 | $17 | 1582 | 0 | 0 |
|  | 06/2026 | 558882 | $33 | 0 | 0 |
|  NGF | 04/2026 | $33786 | 1553684 | 390 | 0 |
|  | 05/2026 | 12152 | 561081 | 0 | (27) |
|  SCX | 04/2026 | 257 | 47160 | 0 | 0 |
|  | 04/2026 | 8 | $6 | 0 | 0 |
|  | 04/2026 | 22745 | 714 | 24 | 0 |
|  | 04/2026 | $135912 | 188170 | 0 | (639) |
|  | 04/2026 | 11511 | 1048265 | 0 | (440) |
|  | 04/2026 | 4597 | 725139 | 0 | (28) |
|  | 04/2026 | 2791 | 10097 | 0 | (71) |
|  | 05/2026 | 187911 | $135912 | 635 | 0 |
|  | 05/2026 | 47160 | 258 | 0 | 0 |
|  | 06/2026 | $6736 | 113569680 | 0 | (59) |
|  | 07/2026 | 16496 | 23594396 | 0 | (763) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **103** |

---

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  SOG | 04/2026 | 23796 | $28155 | $651 | $0 |
|  | 04/2026 | $17551 | 14009 | 39 | (69) |
|  | 04/2026 | 518362 | 449188 | 831 | 0 |
|  | 04/2026 | 7531 | 1171734 | 0 | (147) |
|  | 04/2026 | 207 | 1981 | 2 | 0 |
|  | 05/2026 | 12410 | $15536 | 0 | (39) |
|  | 05/2026 | 449188 | 519173 | 0 | (811) |
|  | 05/2026 | 1978 | 207 | 0 | (2) |
|  | 06/2026 | 10756 | 3486 | 57 | 0 |
|  | 06/2026 | 52745 | 15655 | 556 | 0 |
|  SSB | 04/2026 | 64731 | 46064 | 1403 | 0 |
|  | 04/2026 | $9 | 1374 | 0 | 0 |
|  UAG | 04/2026 | 387733 | 2103 | 0 | (12) |
|  | 04/2026 | 17810 | $4840 | 43 | 0 |
|  | 04/2026 | $13221 | 47887 | 0 | (321) |
|  | 06/2026 | 17355 | $5615 | 84 | 0 |
|  | 06/2026 | 19030 | 1060 | 5 | 0 |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55147 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21766) |

---

#### PURCHASED OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BPS Call - OTC 2-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500% | 04/29/2026 | 499300 | $2352 | $24 |
| FAR Call - OTC 2-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.000 | 04/29/2026 | 583000 | 1603 | 5 |
|  Total Purchased Options |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3955 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |

---

#### WRITTEN OPTIONS:

#### CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Buy/Sell<br>Protection | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC iTraxx Europe 44 5-Year | Sell | 1.050% | 05/20/2026 | 17500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21) |
| GST | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.850 | 05/20/2026 | 36800 | (43) | (30) |
|  | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.800 | 06/17/2026 | 62600 | (69) | (85) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136) |

---

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW | 1350.000 | 07/09/2026 | 10721 | $(38) | $(8) |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/13/2026 | 19032 | (42) | (17) |
| MBC | Put - OTC USD versus KRW |  | 1350.000 | 07/09/2026 | 27616 | (87) | (22) |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/10/2026 | 27566 | (71) | (23) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.620% | 04/20/2026 | 8400 | $(28) | $(10) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/20/2026 | 8400 | (28) | (48) |
| BPS Call - OTC 2-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 1.500 | 04/29/2026 | 499300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(749) | (1) |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600 | 04/16/2026 | 15700 | (50) | (14) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 15700 | (51) | (82) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 16100 | (57) | (46) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 16100 | (57) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.669 | 04/30/2026 | 29700 | (107) | (85) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.069 | 04/30/2026 | 29700 | (107) | (89) |

---

---

| | | |
|:---|:---|:---|
| **104** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Floating Rate Index** | **Pay/Receive<br>Floating Rate** | **Exercise<br>Rate** | **Expiration<br>Date** | **Notional<br>Amount<sup>(1)</sup>** | **Premiums<br>(Received)** | **Market<br>Value** |
| MYC Call - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Receive | 2.540% | 04/16/2026 | 6400 | $(13) | $(1) |
| Put - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Pay | 2.920 | 04/16/2026 | 6400 | (13) | (24) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1260) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(445) |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94.375 | 06/04/2026 | 10400 | $(68) | $(40) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 97.375 | 06/04/2026 | 10400 | (60) | (50) |
|  |  |  |  |  | $(128) | $(90) |
|  Total Written Options | Total Written Options |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1768) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(741) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| Counterparty | Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| CBK | Brazil Government International Bonds | 1.000% | Quarterly | 06/20/2026 | 0.485 | % | $800 | $(31) | $32 | $1 | $0 |
| DUB | Petroleos Mexicanos « | 4.750 | Monthly | 07/06/2026 |  | <sup>¨</sup> | 1600 | 0 | 9 | 9 | 0 |
| GST | Equinix, Inc. | 5.000 | Quarterly | 06/20/2027 | 0.478 |  | 5800 | 811 | (486) | 325 | 0 |
|  | Mexico Government International Bonds | 1.000 | Quarterly | 06/20/2027 | 0.445 |  | 2600 | (11) | 29 | 18 | 0 |
|  | Soft Bank Group,Inc. | 1.000 | Quarterly | 06/20/2026 | 1.662 |  | 3500 | (30) | 26 | 0 | (4) |
| JPM | Mexico Government International Bonds | 1.000 | Quarterly | 06/20/2026 | 0.329 |  | 3800 | (30) | 37 | 7 | 0 |
| MYC | Brazil Government International Bonds | 1.000 | Quarterly | 06/20/2027 | 0.610 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(749) | 810 | 61 | 0 |
|  | Mexico Government International Bonds | 1.000 | Quarterly | 12/20/2026 | 0.369 |  | 9700 | 27 | 20 | 47 | 0 |
|  |  |  |  |  |  |  |  | $(13) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| Counterparty | Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BOA | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | Quarterly | 12/20/2030 | 24570 | $5617 | $(700) | $4917 | $0 |
| BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41970 | 9225 | (826) | 8399 | 0 |
| CBK | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 3750 | 849 | (98) | 751 | 0 |
| GST | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 17000 | 3589 | (187) | 3402 | 0 |
|  | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | $1175 | (35) | 37 | 2 | 0 |
| JPM | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 58320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12744 | (1073) | 11671 | 0 |
| MYI | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | $4113 | 0 | 6 | 6 | 0 |
| SAL | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 2742 | (78) | 82 | 4 | 0 |
|  | CMBX.NA.AAA.12 Index | 0.500 | Monthly | 08/17/2061 | 6600 | (8) | 29 | 21 | 0 |
| UAG | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 1762 | (51) | 53 | 2 | 0 |
|  |  |  |  |  |  | $31852 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2677) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29175 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### TOTAL RETURN SWAPS ON INDEXES

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Pay/Receive<sup>(6)</sup> | Underlying Reference | # of Units | Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value | Swap Agreements,<br>at Value |
| Counterparty | Pay/Receive<sup>(6)</sup> | Underlying Reference | # of Units | Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  JPM | Pay | iShares iBoxx $ Investment Grade Corporate Bond ETF  | 542784 | 2.500% (SOFR less a specified spread) | Monthly | 09/23/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59158 | $0 | $0 | $0 | $0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31839 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2200) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29643 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 105

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(7)</sup> |
|  AZD | $3719 | $0 | $0 | $3719 | $0 | $0 | $0 | $0 | $3719 | $(3600) | $119 |
|  BOA | 1012 | 0 | 4917 | 5929 | (295) | (104) | 0 | (399) | 5530 | (6002) | (472) |
|  BPS | 3441 | 24 | 8399 | 11864 | (2926) | (1) | 0 | (2927) | 8937 | (6770) | 2167 |
|  BRC | 6409 | 0 | 0 | 6409 | (892) | 0 | 0 | (892) | 5517 | (6206) | (689) |
|  BSH | 800 | 0 | 0 | 800 | (594) | 0 | 0 | (594) | 206 | 0 | 206 |
|  CBK | 3784 | 0 | 752 | 4536 | (6098) | 0 | 0 | (6098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1562) | 2329 | 767 |
|  DUB | 2249 | 0 | 9 | 2258 | (1610) | 0 | 0 | (1610) | 648 | (710) | (62) |
|  FAR | 3743 | 5 | 0 | 3748 | (2327) | 0 | 0 | (2327) | 1421 | (900) | 521 |
|  GLM | 10682 | 0 | 0 | 10682 | (2057) | (361) | 0 | (2418) | 8264 | (7370) | 894 |
|  GSC | 0 | 0 | 0 | 0 | 0 | (90) | 0 | (90) | (90) | 0 | (90) |
|  GST | 0 | 0 | 3747 | 3747 | 0 | (115) | (4) | (119) | 3628 | (3700) | (72) |
|  IND | 9343 | 0 | 0 | 9343 | 0 | 0 | 0 | 0 | 9343 | (12790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3447) |
|  JPM | 3234 | 0 | 11678 | 14912 | (897) | 0 | 0 | (897) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15712) | (1697) |
|  MBC | 1977 | 0 | 0 | 1977 | (642) | (45) | 0 | (687) | 1290 | (1560) | (270) |
|  MYC | 0 | 0 | 108 | 108 | 0 | (25) | 0 | (25) | 83 | (60) | 23 |
|  MYI | 34 | 0 | 6 | 40 | 0 | 0 | 0 | 0 | 40 | 109 | 149 |
|  NGF | 390 | 0 | 0 | 390 | (27) | 0 | 0 | (27) | 363 | (310) | 53 |
|  SAL | 0 | 0 | 25 | 25 | 0 | 0 | 0 | 0 | 25 | 0 | 25 |
|  SCX | 659 | 0 | 0 | 659 | (2000) | 0 | 0 | (2000) | (1341) | 1593 | 252 |
|  SOG | 2136 | 0 | 0 | 2136 | (1068) | 0 | 0 | (1068) | 1068 | (1330) | (262) |
|  SSB | 1403 | 0 | 0 | 1403 | 0 | 0 | 0 | 0 | 1403 | (1710) | (307) |
|  UAG | 132 | 0 | 2 | 134 | (333) | 0 | 0 | (333) | (199) | 298 | 99 |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55147 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29643 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84819 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21766) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(741) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22511) |  |  |  |

---

(s) Securities with an aggregate market value of $4,329 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

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

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> 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. 

<sup>(7)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | |
|:---|:---|:---|
| **106** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets |  |  |  |  |  |  |
|  Exchange-traded or centrally cleared |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $0 | $0 | $0 | $0 | $166 | $166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 7609 | 7609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 12351 | 0 | 0 | 8623 | 20974 |
|  | $0 | $12351 | $0 | $0 | $16398 | $28749 |
|  Over the counter |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $55147 | $0 | $55147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | 29 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 29643 | 0 | 0 | 0 | 29643 |
|  | $0 | $29643 | $0 | $55147 | $29 | $84819 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41994 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55147 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113568 |
|  Financial Derivative Instruments - Liabilities |  |  |  |  |  |  |
|  Exchange-traded or centrally cleared |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $199 | $199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 722 | 722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 3275 | 0 | 0 | 3781 | 7056 |
|  | $0 | $3275 | $0 | $0 | $4702 | $7977 |
|  Over the counter |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $21766 | $0 | $21766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 136 | 0 | 70 | 535 | 741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 4 | 0 | 0 | 0 | 4 |
|  | $0 | $140 | $0 | $21836 | $535 | $22511 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $3415 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21836 | $5237 | $30488 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |  |  |
|  Exchange-traded or centrally cleared |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $7358 | $7358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 36642 | 36642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 47297 | 0 | 0 | 26822 | 74119 |
|  | $0 | $47297 | $0 | $0 | $70822 | $118119 |
|  Over the counter |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(76293) | $0 | $(76293) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | (6165) | 0 | (838) | (66) | (7069) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 411 | 0 | 560 | 11616 | 12587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 3355 | (800) | 0 | 905 | 3460 |
|  | $0 | $(2399) | $(800) | $(76571) | $12455 | $(67315) |
|  | $0 | $44898 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(800) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76571) | $83277 | $50804 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |  |  |  |
|  Exchange-traded or centrally cleared |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | $0 | $0 | $0 | $0 | $(3922) | $(3922) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 0 | 832 | 832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (101164) | (101164) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (13906) | 0 | 0 | (2164) | (16070) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13906) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106418) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120324) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 107

------

Schedule of Investments PIMCO Investment Grade Credit Bond Fund (Cont.)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Over the counter |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45962 | $0 | $45962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 396 | (3926) | (3530) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | (26) | 0 | 45 | 549 | 568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (3598) | (138) | 0 | (923) | (4659) |
|  | $0 | $(3624) | $(138) | $46403 | $(4300) | $38341 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17530) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) | $46403 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110718) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81983) |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $13750 | $110347 | $124097 |
|  Corporate Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 0 | 4177320 | 35086 | 4212406 |
| &nbsp;&nbsp; Industrials | 0 | 3562761 | 31104 | 3593865 |
| &nbsp;&nbsp; Utilities | 0 | 1185619 | 0 | 1185619 |
|  Convertible Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 0 | 18 | 0 | 18 |
|  Municipal Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp; Arizona | 0 | 8437 | 0 | 8437 |
| &nbsp;&nbsp; California | 0 | 758 | 0 | 758 |
| &nbsp;&nbsp; Florida | 0 | 3032 | 0 | 3032 |
| &nbsp;&nbsp; Texas | 0 | 17401 | 0 | 17401 |
|  U.S. Government Agencies | 0 | 1857361 | 2032 | 1859393 |
|  U.S. Treasury Obligations | 0 | 2093005 | 0 | 2093005 |
|  Non-Agency Mortgage-Backed Securities | 0 | 129989 | 239300 | 369289 |
|  Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp; CMBS Other | 0 | 31461 | 0 | 31461 |
| &nbsp;&nbsp; Home Equity Other | 0 | 163424 | 0 | 163424 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 2079 | 0 | 2079 |
| &nbsp;&nbsp; Other ABS | 0 | 202573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63877 | 266450 |
|  Sovereign Issues | 0 | 802736 | 0 | 802736 |
|  Common Stocks |  |  |  |  |
| &nbsp;&nbsp; Industrials | 0 | 0 | 4489 | 4489 |
| &nbsp;&nbsp; Materials | 229 | 0 | 0 | 229 |
| &nbsp;&nbsp; Real Estate | 320 | 0 | 613 | 933 |
|  Convertible Preferred Securities |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 8951 | 0 | 0 | 8951 |
|  Preferred Securities |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 31417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388200 | 0 | 419617 |
| &nbsp;&nbsp; Industrials | 0 | 9297 | 0 | 9297 |
|  Asset-Backed Securities | 0 | 0 | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  Corporate Bonds & Notes | $0 | $0 | $0 | $0 |
|  Short-Term Instruments |  |  |  |  |
| &nbsp;&nbsp; Mutual Funds | 11367 | 0 | 0 | 11367 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 35026 | 0 | 35026 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 756 | 0 | 756 |
|  | $52284 | $14685002 | $486848 | $15224135 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments |  |  |  |  |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $4023 | $0 | $0 | $4023 |
|  Total Investments | $56307 | $14685002 | $486848 | $15228158 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 2431 | 26318 | 0 | 28749 |
|  Over the counter | 0 | 84810 | 9 | 84819 |
|  | $2431 | $111128 | $9 | $113568 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (132) | (7774) | 0 | (7906) |
|  Over the counter | 0 | (22511) | 0 | (22511) |
|  | $(132) | $(30285) | $0 | $(30417) |
|  Total Financial Derivative Instruments | $2299 | $80843 | $9 | $83151 |
|  Totals | $58606 | $14765846 | $486857 | $15311309 |

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases<sup>(1)</sup> | Net<br>Sales/<br>Settlements<sup>(1)</sup> | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(2)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $66400 | $67635 | $(25394) | $29 | $328 | $1349 | $0 | $0 | $110347 | $1210 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 25667 | 10000 | 0 | (2) | 0 | (579) | 0 | 0 | 35086 | (581) |
| &nbsp;&nbsp; Industrials | 6203 | 26300 | (859) | 0 | 0 | 40 | 0 | (580) | 31104 | 34 |
|  U.S. Government Agencies | 2099 | 0 | (61) | 9 | 21 | (36) | 0 | 0 | 2032 | (36) |
|  Non-Agency Mortgage-Backed Securities | 37238 | 196089 | (1700) | 65 | 84 | 7524 | 0 | 0 | 239300 | 7531 |

---

---

| | | |
|:---|:---|:---|
| **108** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Beginning<br>Balance<br>at 03/31/2025** | **Net<br>Purchases<sup>(1)</sup>** | **Net<br>Sales/<br>Settlements<sup>(1)</sup>** | **Accrued<br>Discounts/<br>(Premiums)** | **Realized<br>Gain/(Loss)** | **Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</sup>** | **Transfers into<br>Level 3** | **Transfers out<br>of Level 3** | **Ending<br>Balance<br>at 03/31/2026** | **Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(2)</sup>** |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
|  Other ABS | $0 | $64214 | $— | $0 | $0 | $(337) | $0 | $0 | $63877 | $(338) |
|  Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| &nbsp;&nbsp; Financials | 57 | 0 | 0 | 0 | 0 | (57) | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp; Industrials | 4869 | 1 | 0 | 0 | 0 | (381) | 0 | 0 | 4489 | (381) |
| &nbsp;&nbsp; Real Estate | 0 | 0 | 0 |  |  | 613 |  |  | 613 | 569 |
|  | $142533 | $364239 | $(28014) | $101 | $433 | $8136 | $0 | $(580) | $486848 | $8008 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |  |  |  |  |  |  |  |
|  Over the counter | $161 | $1 | $(18) | $0 | $0 | $(135) | $0 | $0 | $9 | $(2) |
|  Totals | $142694 | $364240 | $(28032) | $101 | $433 | $8001 | $0 | $(580) | $486857 | $8006 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $56100 | Discounted Cash Flow | Discount Rate | 4.270 - 9.004 | 5.437 |
|  | 16362 | Indicative Market Quotation | Broker Quote | 95.500 |  |
|  | 37297 | Recent Transaction | Purchase Price | 96.000 - 100.000 | 99.598 |
|  | 588 | Third Party Vendor | Broker Quote | 43.500 |  |
|  Asset Backed Securities |  |  |  |  |  |
|  Other ABS | 57125 | Proxy pricing | Base Price | 99.939 - 99.988 | 99.960 |
|  | 6710 | Recent transaction | Purchase price | 100.000 |  |
|  | 42 | Discounted Cash Flow | Discount Rate | 25.000 |  |
|  Corporate Bonds & Notes |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance | 34900 | Discounted Cash Flow | Discount Rate | 4.775 - 7.181 | 5.718 |
|  | 186 | Third Party Vendor | Expected Recovery | 6.000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials | 31104 | Discounted Cash Flow | Discount Rate | 4.638 - 5.445 | 5.217 |
|  U.S. Government Agencies | 2032 | Discounted Cash Flow | Discount Rate | 11.670 |  |
|  Non-Agency Mortgage-Backed Securities | 62033 | Discounted Cash Flow | Discount Rate | 5.435 - 7.318 | 5.801 |
|  | 15406 | Proxy pricing | Base Price | 99.668 - 100.000 | 99.668 |
|  | 161861 | Recent Transaction | Purchase Price | 100.000 -<br> 101.713 | 100.252 |
|  Common Stocks |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials | 4489 | Indicative Market Quotation | Broker Quote | $0.594 - 23.000 | 22.004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 613 | Other Valuation Techniques<sup>(3)</sup> |  | $— |  |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |  |  |
|  Over the counter | 9 | Indicative Market Quotation | Broker Quote | 0.191 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486857 |  |  |  |  |

---

<sup>(1)</sup> Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions.

<sup>(2)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

<sup>(3)</sup> Includes valuation techniques not defined in the Notes to Financial Statements as securities valued using such techniques are not considered significant to the Fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **109** |

---

------

---

| | |
|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund |

---

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 174.4% | INVESTMENTS IN SECURITIES 174.4% | INVESTMENTS IN SECURITIES 174.4% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 0.8% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.8% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.8% |
|  Citadel Securities LP | Citadel Securities LP | Citadel Securities LP |
|  5.700% (TSFR3M + 2.000%) due 10/31/2031 ~ | 1858 | 1862 |
|  Databricks, Inc. | Databricks, Inc. | Databricks, Inc. |
|  1.000% due 01/05/2032 ~µ | 412 | 410 |
|  8.171% (TSFR1M + 4.500%) due 01/05/2032 ~ | 1941 | 1931 |
|  Electronic Arts, Inc. | Electronic Arts, Inc. | Electronic Arts, Inc. |
|  TBD% due 03/24/2033 | 2000 | 1990 |
|  Jane Street Group LLC | Jane Street Group LLC | Jane Street Group LLC |
|  5.673% (TSFR3M + 2.000%) due 12/15/2031 ~ | 2764 | 2717 |
|  Quikrete Holdings, Inc. | Quikrete Holdings, Inc. | Quikrete Holdings, Inc. |
|  5.918% (TSFR1M + 2.250%) due 03/19/2029 ~ | 1051 | 1051 |
|  5.918% (TSFR1M + 2.250%) due 02/10/2032 ~ | 1386 | 1385 |
|  Telecom Serbia | Telecom Serbia | Telecom Serbia |
|  3.522% (EUR006M + 1.350%) due 06/11/2029 «~ | 5000 | 5769 |
|  UKG, Inc. | UKG, Inc. | UKG, Inc. |
|  6.167% (TSFR3M + 2.500%) due 02/10/2031 ~ | 591 | 566 |
|  Total Loan Participations and Assignments (Cost $17,310) | Total Loan Participations and Assignments (Cost $17,310) | 17681 |
| CORPORATE BONDS & NOTES 48.7% | CORPORATE BONDS & NOTES 48.7% | CORPORATE BONDS & NOTES 48.7% |
| BANKING & FINANCE 19.0% | BANKING & FINANCE 19.0% | BANKING & FINANCE 19.0% |
|  123 Lights Re Ltd. | 123 Lights Re Ltd. | 123 Lights Re Ltd. |
|  14.510% (FHMMUSTF + 11.000%) due 09/14/2031 ~ | 250 | 258 |
|  Accident Fund Insurance Co. of America | Accident Fund Insurance Co. of America | Accident Fund Insurance Co. of America |
|  8.500% due 08/01/2032 | 2000 | 2002 |
|  AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
|  3.300% due 01/30/2032 | 1000 | 909 |
|  3.850% due 10/29/2041 | 367 | 293 |
|  4.750% due 01/15/2033 | 1750 | 1702 |
|  Aircastle Ltd. | Aircastle Ltd. | Aircastle Ltd. |
|  2.850% due 01/26/2028 | 2010 | 1948 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  5.737% due 05/15/2029 •  | 700 | 711 |
|  American Express Co. | American Express Co. | American Express Co. |
|  3.433% due 05/20/2032 •  | 1600 | 1824 |
|  5.667% due 04/25/2036 •  | 500 | 517 |
|  American Financial Group, Inc. | American Financial Group, Inc. | American Financial Group, Inc. |
|  4.500% due 06/15/2047 | 7400 | 5983 |
|  American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP |
|  3.625% due 04/15/2032 | 1200 | 1108 |
|  American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. |
|  5.250% due 07/07/2026 | 600 | 601 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  2.100% due 06/15/2030 | 1550 | 1395 |
|  2.900% due 01/15/2030 | 300 | 282 |
|  2.950% due 01/15/2051 | 2800 | 1730 |
|  5.550% due 07/15/2033 | 3500 | 3598 |
|  Arch Capital Group Ltd. | Arch Capital Group Ltd. | Arch Capital Group Ltd. |
|  3.635% due 06/30/2050 | 4200 | 3008 |
|  ARES Capital Corp. | ARES Capital Corp. | ARES Capital Corp. |
|  2.150% due 07/15/2026 | 1500 | 1488 |
|  ARES Finance Co. IV LLC | ARES Finance Co. IV LLC | ARES Finance Co. IV LLC |
|  3.650% due 02/01/2052 | 3100 | 2090 |
|  ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund |
|  4.850% due 01/15/2029 | 1100 | 1066 |
|  5.800% due 09/09/2030 | 1600 | 1557 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  5.516% due 03/25/2027 | 1200 | 1210 |
|  5.583% due 01/09/2029 | 3500 | 3533 |
|  Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC |
|  6.375% due 07/15/2030 | 3500 | 3688 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Avilease Capital Ltd. | Avilease Capital Ltd. | Avilease Capital Ltd. |
|  4.750% due 11/12/2030 | 1100 | 1072 |
|  Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
|  4.850% due 04/01/2033 | 1600 | 1534 |
|  4.950% due 10/15/2032 | 2000 | 1949 |
|  Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA |
|  4.150% due 03/03/2029 | 1200 | 1186 |
|  Banco BTG Pactual SA | Banco BTG Pactual SA | Banco BTG Pactual SA |
|  5.500% due 01/27/2031 | 1900 | 1837 |
|  Bank Hapoalim BM | Bank Hapoalim BM | Bank Hapoalim BM |
|  4.722% due 07/14/2029 | 3000 | 2965 |
|  Bank Leumi Le-Israel BM | Bank Leumi Le-Israel BM | Bank Leumi Le-Israel BM |
|  7.129% due 07/18/2033 •(g) | 1000 | 1030 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  5.819% due 09/15/2029 •  | 3300 | 3405 |
|  Bank of Nova Scotia | Bank of Nova Scotia | Bank of Nova Scotia |
|  4.813% due 02/02/2034 •  | 800 | 789 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  2.894% due 11/24/2032 •  | 2300 | 2056 |
|  6.224% due 05/09/2034 •  | 2900 | 3046 |
|  Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC | Blackstone Holdings Finance Co. LLC |
|  2.000% due 01/30/2032 | 2300 | 1952 |
|  2.850% due 08/05/2051 | 2800 | 1667 |
|  Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund |
|  5.250% due 09/04/2029 | 1300 | 1275 |
|  Block Financial LLC | Block Financial LLC | Block Financial LLC |
|  5.375% due 09/15/2032 | 2000 | 1942 |
|  Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC |
|  3.125% due 06/10/2031 | 4408 | 3805 |
|  4.375% due 02/15/2032 | 200 | 178 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  5.283% due 11/19/2030 •  | 1000 | 1016 |
|  BPCE SA | BPCE SA | BPCE SA |
|  7.003% due 10/19/2034 •  | 13450 | 14706 |
|  Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC |
|  5.000% due 11/01/2032 | 300 | 295 |
|  Brookfield Asset Management Ltd. | Brookfield Asset Management Ltd. | Brookfield Asset Management Ltd. |
|  5.795% due 04/24/2035 | 700 | 714 |
|  Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. | Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. | Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. |
|  2.340% due 01/30/2032 | 5190 | 4465 |
|  Brookfield Finance LLC/Brookfield Finance, Inc. | Brookfield Finance LLC/Brookfield Finance, Inc. | Brookfield Finance LLC/Brookfield Finance, Inc. |
|  3.450% due 04/15/2050 | 50 | 33 |
|  Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. |
|  3.500% due 03/30/2051 | 6100 | 4078 |
|  3.625% due 02/15/2052 | 800 | 544 |
|  4.700% due 09/20/2047 | 5500 | 4574 |
|  Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. |
|  5.650% due 06/11/2034 | 1650 | 1667 |
|  CaixaBank SA | CaixaBank SA | CaixaBank SA |
|  6.037% due 06/15/2035 •  | 900 | 938 |
|  6.840% due 09/13/2034 •  | 3900 | 4249 |
|  Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. |
|  12.239% (GSMMUSTF + 8.702%) due 04/05/2027 ~ | 2700 | 2742 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  5.197% due 09/11/2036 •  | 2200 | 2134 |
|  Carlyle Finance LLC | Carlyle Finance LLC | Carlyle Finance LLC |
|  5.650% due 09/15/2048 | 6000 | 5648 |
|  CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. |
|  5.950% due 08/15/2034 | 1900 | 1979 |
|  CFE Fibra E | CFE Fibra E | CFE Fibra E |
|  5.875% due 09/23/2040 | 1084 | 1056 |
|  Charles River Re Ltd. | Charles River Re Ltd. | Charles River Re Ltd. |
|  11.172% (BNMMDTSC + 7.632%) due 05/10/2031 ~ | 250 | 257 |
|  CI Financial Corp. | CI Financial Corp. | CI Financial Corp. |
|  7.500% due 05/30/2029 | 150 | 157 |
|  Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC |
|  5.150% due 02/14/2031 | 800 | 782 |
|  Citizens Financial Group, Inc. | Citizens Financial Group, Inc. | Citizens Financial Group, Inc. |
|  5.718% due 07/23/2032 •  | 3000 | 3085 |
|  Citrus Re Ltd. | Citrus Re Ltd. | Citrus Re Ltd. |
|  8.922% (T-BILL 3MO + 5.250%) due 06/07/2033 ~ | 250 | 250 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  9.910% (T-BILL 3MO + 6.250%) due 06/07/2033 ~ | $— | 250 | $— | 250 |
|  Community Preservation Corp. | Community Preservation Corp. | Community Preservation Corp. | Community Preservation Corp. | Community Preservation Corp. |
|  2.867% due 02/01/2030 |  | 1980 |  | 1842 |
|  COPT Defense Properties LP | COPT Defense Properties LP | COPT Defense Properties LP | COPT Defense Properties LP | COPT Defense Properties LP |
|  4.500% due 10/15/2030 |  | 400 |  | 395 |
|  CoStar Group, Inc. | CoStar Group, Inc. | CoStar Group, Inc. | CoStar Group, Inc. | CoStar Group, Inc. |
|  2.800% due 07/15/2030 |  | 1500 |  | 1357 |
|  Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA |
|  9.700% due 03/05/2045 |  | 2000 |  | 611 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  5.261% due 01/12/2037 •  | $— | 2750 |  | 2692 |
|  7.250% due 09/23/2028 •(f)(g) |  | 400 |  | 485 |
|  CTR Partnership LP/CareTrust Capital Corp. | CTR Partnership LP/CareTrust Capital Corp. | CTR Partnership LP/CareTrust Capital Corp. | CTR Partnership LP/CareTrust Capital Corp. | CTR Partnership LP/CareTrust Capital Corp. |
|  3.875% due 06/30/2028 | $— | 100 |  | 97 |
|  DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. |
|  4.500% due 10/16/2030 |  | 800 |  | 765 |
|  Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. |
|  6.200% due 01/16/2035 •(f) |  | 1200 |  | 1208 |
|  Danske Bank AS | Danske Bank AS | Danske Bank AS | Danske Bank AS | Danske Bank AS |
|  4.375% due 06/12/2028 |  | 6200 |  | 6189 |
|  Depository Trust Co. | Depository Trust Co. | Depository Trust Co. | Depository Trust Co. | Depository Trust Co. |
|  4.550% due 03/27/2031 |  | 600 |  | 601 |
|  DNB Bank ASA | DNB Bank ASA | DNB Bank ASA | DNB Bank ASA | DNB Bank ASA |
|  4.832% due 03/30/2032 •  |  | 1700 |  | 1696 |
|  Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange | Doctors Co. An Interinsurance Exchange |
|  4.500% due 01/18/2032 |  | 5000 |  | 4557 |
|  Encore Capital Group, Inc. | Encore Capital Group, Inc. | Encore Capital Group, Inc. | Encore Capital Group, Inc. | Encore Capital Group, Inc. |
|  6.625% due 04/15/2031 |  | 1300 |  | 1295 |
|  EPR Properties | EPR Properties | EPR Properties | EPR Properties | EPR Properties |
|  3.750% due 08/15/2029 |  | 900 |  | 863 |
|  4.950% due 04/15/2028 |  | 600 |  | 599 |
|  EQT AB | EQT AB | EQT AB | EQT AB | EQT AB |
|  5.850% due 05/08/2035 |  | 2200 |  | 2208 |
|  Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. |
|  4.400% due 03/15/2031 |  | 1700 |  | 1665 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.600% due 11/15/2030 |  | 700 |  | 694 |
|  Equinix, Inc. | Equinix, Inc. | Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
|  3.400% due 02/15/2052 |  | 1900 |  | 1258 |
|  Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. |
|  5.000% due 04/20/2048 |  | 3393 |  | 2939 |
|  Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP |
|  2.350% due 03/15/2032 |  | 400 |  | 343 |
|  5.500% due 07/01/2030 |  | 1100 |  | 1129 |
|  F&G Global Funding | F&G Global Funding | F&G Global Funding | F&G Global Funding | F&G Global Funding |
|  2.000% due 09/20/2028 |  | 1100 |  | 1024 |
|  5.875% due 01/16/2030 |  | 1000 |  | 1014 |
|  Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. | Fairfax Financial Holdings Ltd. |
|  6.100% due 03/15/2055 |  | 2300 |  | 2259 |
|  Farmers Insurance Exchange | Farmers Insurance Exchange | Farmers Insurance Exchange | Farmers Insurance Exchange | Farmers Insurance Exchange |
|  4.747% due 11/01/2057 •  |  | 3300 |  | 2785 |
|  Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. | Fish Pond Re Ltd. |
|  7.580% (BRMMUSDF + 4.020%) due 01/08/2027 ~ |  | 2700 |  | 2739 |
|  FMR LLC | FMR LLC | FMR LLC | FMR LLC | FMR LLC |
|  5.150% due 02/01/2043 |  | 11300 |  | 10601 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  6.800% due 05/12/2028 |  | 5900 |  | 6079 |
|  6.950% due 06/10/2026 |  | 1700 |  | 1704 |
|  Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC |
|  6.875% due 05/01/2031 |  | 600 |  | 561 |
|  FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. |
|  3.125% due 10/12/2028 |  | 1800 |  | 1644 |
|  3.250% due 07/15/2027 |  | 2200 |  | 2114 |
|  GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust |
|  1.950% due 09/15/2028 |  | 1400 |  | 1304 |
|  2.250% due 01/06/2027 |  | 1600 |  | 1574 |
|  2.900% due 01/06/2032 |  | 1600 |  | 1385 |
|  Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. | Global Atlantic Fin Co. |
|  3.125% due 06/15/2031 |  | 1500 |  | 1315 |
|  GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. |
|  5.625% due 03/01/2036 |  | 300 |  | 292 |

---

---

| | | |
|:---|:---|:---|
| **110** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.750% due 11/01/2037 | $— | 2800 | $— | 2713 |
|  6.250% due 09/15/2054 |  | 721 |  | 700 |
|  Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. |
|  13.162% (T-BILL 1MO + 9.500%) due 03/08/2032 ~ |  | 300 |  | 300 |
|  13.412% (JMMMUSTF + 9.750%) due 01/08/2029 ~ |  | 700 |  | 713 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  2.615% due 04/22/2032 •  |  | 6000 |  | 5391 |
|  5.218% due 04/23/2031 •  |  | 2300 |  | 2339 |
|  5.330% due 07/23/2035 •  |  | 2100 |  | 2108 |
|  5.536% due 01/28/2036 •  |  | 2000 |  | 2034 |
|  Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC | Goodman U.S. Finance Four LLC |
|  4.500% due 10/15/2037 |  | 7400 |  | 6802 |
|  Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. |
|  5.500% due 09/01/2035 |  | 1500 |  | 1491 |
|  Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC |
|  5.330% due 06/07/2035 «(j) |  | 900 |  | 908 |
|  HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
|  5.450% due 11/15/2030 |  | 900 |  | 862 |
|  5.850% due 06/05/2030 |  | 2100 |  | 2051 |
|  HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
|  7.390% due 11/03/2028 •  |  | 1596 |  | 1664 |
|  ING Groep NV | ING Groep NV | ING Groep NV | ING Groep NV | ING Groep NV |
|  6.114% due 09/11/2034 •  |  | 6919 |  | 7301 |
|  Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. |
|  3.000% due 09/15/2060 |  | 2100 |  | 1206 |
|  Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |
|  8.248% due 11/21/2033 •  |  | 2289 |  | 2639 |
|  Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP |
|  5.450% due 08/15/2030 |  | 3100 |  | 3150 |
|  JAB Holdings BV | JAB Holdings BV | JAB Holdings BV | JAB Holdings BV | JAB Holdings BV |
|  3.750% due 05/28/2051 |  | 2750 |  | 1876 |
|  4.500% due 04/08/2052 |  | 300 |  | 229 |
|  Jackson National Life Global Funding | Jackson National Life Global Funding | Jackson National Life Global Funding | Jackson National Life Global Funding | Jackson National Life Global Funding |
|  4.600% due 10/01/2029 |  | 1400 |  | 1388 |
|  5.550% due 07/02/2027 |  | 1300 |  | 1312 |
|  Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. |
|  6.875% due 12/01/2028 |  | 2150 |  | 2270 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  5.140% due 01/24/2031 •  |  | 2000 |  | 2037 |
|  5.572% due 04/22/2036 •  |  | 4300 |  | 4433 |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  2.650% due 11/15/2033 |  | 200 |  | 159 |
|  Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. |
|  6.412% (T-BILL 3MO + 2.750%) due 04/09/2029 ~ |  | 490 |  | 499 |
|  KKR Group Finance Co. X LLC | KKR Group Finance Co. X LLC | KKR Group Finance Co. X LLC | KKR Group Finance Co. X LLC | KKR Group Finance Co. X LLC |
|  3.250% due 12/15/2051 |  | 2500 |  | 1564 |
|  Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. |
|  5.500% due 08/01/2030 |  | 300 |  | 301 |
|  Lazard Group LLC | Lazard Group LLC | Lazard Group LLC | Lazard Group LLC | Lazard Group LLC |
|  4.375% due 03/11/2029 |  | 1800 |  | 1780 |
|  Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. | Lehman Brothers Holdings, Inc. |
|  1.000% due 09/27/2027 ^(c) |  | 1200 |  | 0 |
|  Lincoln Financial Global Funding | Lincoln Financial Global Funding | Lincoln Financial Global Funding | Lincoln Financial Global Funding | Lincoln Financial Global Funding |
|  4.625% due 08/18/2030 |  | 300 |  | 297 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  3.750% due 03/18/2028 •  |  | 1000 |  | 993 |
|  5.985% due 08/07/2027 •  |  | 1700 |  | 1708 |
|  Locke Tavern Re Ltd. | Locke Tavern Re Ltd. | Locke Tavern Re Ltd. | Locke Tavern Re Ltd. | Locke Tavern Re Ltd. |
|  4.060% (JMMMUSTF + 3.250%) due 04/11/2033 ~ |  | 250 |  | 250 |
|  4.060% (JMMMUSTF + 4.250%) due 04/11/2033 ~ |  | 250 |  | 250 |
|  Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. | Longleaf Pine Re Ltd. |
|  21.473% (GSMMUSTI + 17.932%) due 05/27/2031 ~ |  | 900 |  | 953 |
|  LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
|  5.150% due 06/15/2030 |  | 1000 |  | 1005 |
|  Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. |
|  4.500% due 03/23/2031 |  | 2200 |  | 2174 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Marex Group PLC | Marex Group PLC | Marex Group PLC |
|  5.829% due 05/08/2028 | 800 | 809 |
|  Meiji Yasuda Life Insurance Co. | Meiji Yasuda Life Insurance Co. | Meiji Yasuda Life Insurance Co. |
|  6.100% due 06/11/2055 •  | 1200 | 1205 |
|  Met Tower Global Funding | Met Tower Global Funding | Met Tower Global Funding |
|  4.200% due 09/16/2030 | 2500 | 2459 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  0.000% due 04/02/2032 þ(i) | 3700 | 2757 |
|  4.654% due 10/18/2030 •  | 3000 | 2999 |
|  5.042% due 07/19/2030 •  | 2300 | 2327 |
|  Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund |
|  4.500% due 02/11/2027 | 800 | 796 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |
|  4.465% due 11/19/2031 •  | 1600 | 1576 |
|  National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. |
|  3.000% due 02/01/2031 | 460 | 414 |
|  National Securities Clearing Corp. | National Securities Clearing Corp. | National Securities Clearing Corp. |
|  4.900% due 06/26/2029 | 4000 | 4072 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  6.557% due 10/18/2027 •  | 6100 | 6169 |
|  Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. | Nationwide Financial Services, Inc. |
|  3.900% due 11/30/2049 | 4000 | 2976 |
|  NatWest Group PLC | NatWest Group PLC | NatWest Group PLC |
|  4.892% due 05/18/2029 •  | 6300 | 6346 |
|  Newmark Group, Inc. | Newmark Group, Inc. | Newmark Group, Inc. |
|  7.500% due 01/12/2029 | 1467 | 1539 |
|  Nippon Life Insurance Co. | Nippon Life Insurance Co. | Nippon Life Insurance Co. |
|  5.046% due 04/02/2033 (b) | 1000 | 1002 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |
|  2.450% due 09/15/2028 | 170 | 155 |
|  Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. |
|  4.904% due 07/01/2030 | 200 | 200 |
|  5.783% due 07/03/2034 | 1000 | 1028 |
|  7.000% due 07/15/2030 •(f)(g) | 2300 | 2317 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  5.356% due 03/10/2036 | 800 | 792 |
|  5.359% due 09/09/2035 (k) | 1400 | 1394 |
|  OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
|  3.500% due 01/15/2027 | 1990 | 1954 |
|  Orange Capital RE DAC | Orange Capital RE DAC | Orange Capital RE DAC |
|  8.026% (EUR003M + 6.000%) due 01/17/2029 ~ | 250 | 304 |
|  Pacific Life Insurance Co. | Pacific Life Insurance Co. | Pacific Life Insurance Co. |
|  5.950% due 09/15/2055 | 4300 | 4227 |
|  Polestar Re Ltd. | Polestar Re Ltd. | Polestar Re Ltd. |
|  16.810% (BRMMUSDF + 13.250%) due 01/07/2027 ~ | 1700 | 1758 |
|  Popular, Inc. | Popular, Inc. | Popular, Inc. |
|  7.250% due 03/13/2028 | 2400 | 2488 |
|  Progressive Corp. | Progressive Corp. | Progressive Corp. |
|  5.150% due 03/26/2036 | 1400 | 1403 |
|  Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP |
|  4.250% due 01/15/2031 | 800 | 783 |
|  4.625% due 03/15/2033 | 700 | 681 |
|  Protective Life Corp. | Protective Life Corp. | Protective Life Corp. |
|  5.350% due 12/15/2035 | 1700 | 1672 |
|  Public Storage Operating Co. | Public Storage Operating Co. | Public Storage Operating Co. |
|  3.500% due 01/20/2034 | 1700 | 1880 |
|  Quercus II Re DAC | Quercus II Re DAC | Quercus II Re DAC |
|  13.079% (EUR003M + 11.000%) due 01/07/2031 ~ | 300 | 347 |
|  Quercus Re DAC | Quercus Re DAC | Quercus Re DAC |
|  10.020% (EUR003M + 8.000%) due 01/06/2031 ~ | 250 | 299 |
|  Regency Centers LP | Regency Centers LP | Regency Centers LP |
|  4.500% due 03/15/2033 | 400 | 390 |
|  Reinsurance Group of America, Inc. | Reinsurance Group of America, Inc. | Reinsurance Group of America, Inc. |
|  6.000% due 09/15/2033 | 2100 | 2182 |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |
|  6.000% due 11/21/2028 | 3500 | 3621 |
|  Sammons Financial Group Global Funding | Sammons Financial Group Global Funding | Sammons Financial Group Global Funding |
|  4.800% due 12/12/2030 | 900 | 893 |
|  4.950% due 06/12/2030 | 2100 | 2103 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  2.896% due 03/15/2032 •  | 200 | 181 |
|  6.534% due 01/10/2029 •  | 900 | 929 |
|  SBA Tower Trust | SBA Tower Trust | SBA Tower Trust |
|  4.831% due 10/15/2029 | 4300 | 4322 |
|  Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |
|  5.750% due 01/15/2030 | 1000 | 985 |
|  Skandinaviska Enskilda Banken AB | Skandinaviska Enskilda Banken AB | Skandinaviska Enskilda Banken AB |
|  4.500% due 09/03/2030 | 1500 | 1491 |
|  Societe Generale SA | Societe Generale SA | Societe Generale SA |
|  4.450% due 04/12/2030 •  | 1600 | 1584 |
|  5.250% due 02/19/2027 | 600 | 604 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |
|  6.750% due 02/08/2028 •  | 1000 | 1018 |
|  Starwood Property Trust, Inc. | Starwood Property Trust, Inc. | Starwood Property Trust, Inc. |
|  6.500% due 07/01/2030 | 1000 | 1022 |
|  Stellantis Financial Services U.S. Corp. | Stellantis Financial Services U.S. Corp. | Stellantis Financial Services U.S. Corp. |
|  5.400% due 09/15/2030 | 800 | 786 |
|  Synchrony Financial | Synchrony Financial | Synchrony Financial |
|  2.875% due 10/28/2031 | 430 | 375 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.850% due 03/24/2031 | 2300 | 2272 |
|  Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. |
|  10.666% (JMMMUSTF + 7.106%) due 06/07/2027 ~ | 250 | 259 |
|  12.938% (BRMMUSDF + 9.378%) due 06/05/2026 ~ | 250 | 252 |
|  Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. |
|  7.661% (T-BILL 1MO + 4.000%) due 03/22/2033 ~ | 250 | 250 |
|  Trust 2401 | Trust 2401 | Trust 2401 |
|  4.869% due 01/15/2030 | 395 | 381 |
|  Trust Fibra Uno | Trust Fibra Uno | Trust Fibra Uno |
|  4.869% due 01/15/2030 | 205 | 197 |
|  U.S. Bancorp | U.S. Bancorp | U.S. Bancorp |
|  5.424% due 02/12/2036 •  | 600 | 613 |
|  UBS Group AG | UBS Group AG | UBS Group AG |
|  1.494% due 08/10/2027 •  | 5600 | 5540 |
|  3.091% due 05/14/2032 •  | 7500 | 6880 |
|  4.703% due 08/05/2027 •  | 2200 | 2201 |
|  4.751% due 05/12/2028 •  | 800 | 802 |
|  4.988% due 08/05/2033 •  | 1700 | 1693 |
|  5.428% due 02/08/2030 •  | 1700 | 1737 |
|  UniCredit SpA | UniCredit SpA | UniCredit SpA |
|  3.127% due 06/03/2032 •  | 5700 | 5240 |
|  Ursa Re II Ltd. | Ursa Re II Ltd. | Ursa Re II Ltd. |
|  11.411% (MSMMUSTF + 7.750%) due 06/07/2028 ~ | 300 | 303 |
|  Ursa Re Ltd. | Ursa Re Ltd. | Ursa Re Ltd. |
|  9.040% (BNMMDTSC + 5.500%) due 12/07/2026 ~ | 2500 | 2537 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP |
|  6.125% due 04/01/2054 | 710 | 677 |
|  VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. |
|  3.875% due 02/15/2029 | 2900 | 2819 |
|  4.250% due 12/01/2026 | 542 | 541 |
|  Vitality Re XVI Ltd. | Vitality Re XVI Ltd. | Vitality Re XVI Ltd. |
|  5.280% (MSMMUSTF + 1.750%) due 01/08/2030 ~ | 250 | 249 |
|  7.280% (MSMMUSTF + 3.750%) due 01/08/2030 ~ | 250 | 249 |
|  Vitality Re XVII Ltd. | Vitality Re XVII Ltd. | Vitality Re XVII Ltd. |
|  5.541% (GSMMUSTI + 2.000%) due 01/08/2031 ~ | 300 | 300 |
|  5.941% (GSMMUSTI + 2.400%) due 01/08/2031 ~ | 250 | 250 |
|  7.541% (GSMMUSTI + 4.000%) due 01/08/2031 ~ | 250 | 250 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  3.068% due 04/30/2041 •  | 400 | 300 |
|  5.150% due 04/23/2031 •  | 4000 | 4069 |
|  5.244% due 01/24/2031 •  | 2000 | 2039 |
|  5.605% due 04/23/2036 •  | 5800 | 5937 |
|  Welltower OP LLC | Welltower OP LLC | Welltower OP LLC |
|  5.125% due 03/15/2043 | 10600 | 9933 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **111** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Windmill III Re DAC | Windmill III Re DAC | Windmill III Re DAC |
|  7.236% (EUR003M + 5.210%) due 07/05/2028 ~ | 250 | 299 |
|  Windrose Re Ltd. | Windrose Re Ltd. | Windrose Re Ltd. |
|  8.790% (HSMMUSTF + 5.250%) due 02/11/2033 ~ | 250 | 249 |
|  Winston RE Ltd. | Winston RE Ltd. | Winston RE Ltd. |
|  15.230% (BNMMDTSC + 11.690%) due 02/26/2031 ~ | 2800 | 2923 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  3.250% due 10/02/2031 | 400 | 447 |
|  4.650% due 07/15/2030 | 700 | 696 |
|  Zions Bancorp NA | Zions Bancorp NA | Zions Bancorp NA |
|  4.483% due 02/09/2029 •  | 1200 | 1191 |
|  |  | 421729 |
| INDUSTRIALS 18.7% | INDUSTRIALS 18.7% | INDUSTRIALS 18.7% |
|  Abbott Laboratories | Abbott Laboratories | Abbott Laboratories |
|  4.650% due 03/15/2036 | 3300 | 3228 |
|  AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
|  4.125% due 03/15/2031 | 4000 | 3943 |
|  4.400% due 03/15/2033 | 4000 | 3928 |
|  AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC |
|  3.650% due 04/01/2050 | 50 | 36 |
|  Air Canada Pass-Through Trust | Air Canada Pass-Through Trust | Air Canada Pass-Through Trust |
|  3.300% due 07/15/2031 | 493 | 472 |
|  3.750% due 06/15/2029 | 217 | 214 |
|  5.250% due 10/01/2030 | 548 | 556 |
|  Aker BP ASA | Aker BP ASA | Aker BP ASA |
|  3.100% due 07/15/2031 | 1600 | 1462 |
|  Alaska Airlines Pass-Through Trust | Alaska Airlines Pass-Through Trust | Alaska Airlines Pass-Through Trust |
|  4.800% due 02/15/2029 | 1308 | 1309 |
|  Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
|  3.500% due 11/06/2038 | 2900 | 3179 |
|  Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
|  5.650% due 03/13/2046 | 5800 | 5783 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  2.875% due 01/11/2036 | 81 | 73 |
|  3.000% due 04/15/2030 | 2868 | 2782 |
|  3.250% due 04/15/2030 | 1949 | 1857 |
|  3.650% due 02/15/2029 | 114 | 110 |
|  3.700% due 04/01/2028 | 1098 | 1094 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  4.400% due 02/22/2062 | 1994 | 1544 |
|  4.663% due 06/15/2051 | 3779 | 3173 |
|  4.850% due 02/19/2036 | 1800 | 1769 |
|  Antofagasta PLC | Antofagasta PLC | Antofagasta PLC |
|  5.625% due 09/09/2035 | 700 | 692 |
|  Ashtead Capital, Inc. | Ashtead Capital, Inc. | Ashtead Capital, Inc. |
|  4.000% due 05/01/2028 | 1200 | 1184 |
|  5.950% due 10/15/2033 | 2400 | 2474 |
|  Bacardi Ltd./Bacardi-Martini BV | Bacardi Ltd./Bacardi-Martini BV | Bacardi Ltd./Bacardi-Martini BV |
|  5.900% due 06/15/2043 | 5073 | 4801 |
|  Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |
|  3.226% due 03/11/2030 | 1100 | 1260 |
|  3.812% due 03/11/2034 | 600 | 686 |
|  4.650% due 06/15/2033 | 2000 | 1969 |
|  Baptist Health South Florida Obligated Group | Baptist Health South Florida Obligated Group | Baptist Health South Florida Obligated Group |
|  3.115% due 11/15/2071 | 3300 | 1862 |
|  Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC |
|  4.375% due 12/15/2028 | 400 | 396 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 32520 | 33461 |
|  Berry Global, Inc. | Berry Global, Inc. | Berry Global, Inc. |
|  5.500% due 04/15/2028 | 2200 | 2245 |
|  Beth Israel Lahey Health, Inc. | Beth Israel Lahey Health, Inc. | Beth Israel Lahey Health, Inc. |
|  3.080% due 07/01/2051 | 1490 | 973 |
|  Block, Inc. | Block, Inc. | Block, Inc. |
|  5.625% due 08/15/2030 | 600 | 597 |
|  Boeing Co. | Boeing Co. | Boeing Co. |
|  6.528% due 05/01/2034 | 2400 | 2615 |
|  6.858% due 05/01/2054 | 1200 | 1322 |
|  7.008% due 05/01/2064 | 674 | 746 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. |
|  3.875% due 09/01/2028 | 1080 | 1053 |
|  Boston Scientific Corp. | Boston Scientific Corp. | Boston Scientific Corp. |
|  7.375% due 01/15/2040 | 12750 | 15146 |
|  Brightstar Lottery Holdings BV | Brightstar Lottery Holdings BV | Brightstar Lottery Holdings BV |
|  4.250% due 03/15/2030 | 2800 | 3182 |
|  British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust |
|  3.300% due 06/15/2034 | 140 | 133 |
|  3.350% due 12/15/2030 | 36 | 35 |
|  Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
|  2.600% due 02/15/2033 | 1300 | 1137 |
|  3.187% due 11/15/2036 | 1899 | 1588 |
|  3.419% due 04/15/2033 | 1400 | 1281 |
|  3.469% due 04/15/2034 | 5150 | 4640 |
|  3.500% due 02/15/2041 | 300 | 239 |
|  4.150% due 04/15/2032 | 2000 | 1936 |
|  Cameron LNG LLC | Cameron LNG LLC | Cameron LNG LLC |
|  3.701% due 01/15/2039 | 1400 | 1188 |
|  Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. |
|  5.400% due 12/15/2034 | 400 | 405 |
|  CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. |
|  2.670% due 12/01/2026 | 3200 | 3163 |
|  3.276% due 12/01/2028 | 500 | 481 |
|  3.569% due 12/01/2031 | 2900 | 2652 |
|  Cencora, Inc. | Cencora, Inc. | Cencora, Inc. |
|  3.625% due 05/22/2032 | 700 | 801 |
|  Cenovus Energy, Inc. | Cenovus Energy, Inc. | Cenovus Energy, Inc. |
|  5.400% due 03/20/2036 | 1800 | 1792 |
|  Centene Corp. | Centene Corp. | Centene Corp. |
|  2.450% due 07/15/2028 | 700 | 652 |
|  CGI, Inc. | CGI, Inc. | CGI, Inc. |
|  2.300% due 09/14/2031 | 1600 | 1400 |
|  Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital |
|  2.300% due 02/01/2032 | 860 | 738 |
|  3.500% due 06/01/2041 | 4000 | 2808 |
|  3.900% due 06/01/2052 | 1770 | 1128 |
|  5.375% due 04/01/2038 | 600 | 538 |
|  5.375% due 05/01/2047 | 2200 | 1772 |
|  Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. |
|  5.200% due 07/30/2036 | 800 | 792 |
|  Cigna Group | Cigna Group | Cigna Group |
|  5.250% due 01/15/2036 | 2000 | 2003 |
|  City of Hope | City of Hope | City of Hope |
|  4.378% due 08/15/2048 | 1010 | 823 |
|  Colorado Interstate Gas Co. LLC | Colorado Interstate Gas Co. LLC | Colorado Interstate Gas Co. LLC |
|  6.850% due 06/15/2037 | 1300 | 1432 |
|  CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
|  4.975% due 09/01/2035 | 3100 | 3027 |
|  Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
|  5.750% due 08/01/2035 (k) | 1100 | 1103 |
|  Continental Wind LLC | Continental Wind LLC | Continental Wind LLC |
|  6.000% due 02/28/2033 | 905 | 925 |
|  Corp. Nacional del Cobre de Chile | Corp. Nacional del Cobre de Chile | Corp. Nacional del Cobre de Chile |
|  6.330% due 01/13/2035 | 3000 | 3134 |
|  Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |
|  5.600% due 01/15/2031 | 800 | 775 |
|  DAE Funding LLC | DAE Funding LLC | DAE Funding LLC |
|  3.375% due 03/20/2028 | 2700 | 2600 |
|  Devon Energy Corp. | Devon Energy Corp. | Devon Energy Corp. |
|  5.750% due 09/15/2054 | 1143 | 1075 |
|  Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. |
|  5.550% due 04/01/2035 | 1500 | 1531 |
|  5.900% due 04/18/2064 | 723 | 685 |
|  Elevance Health, Inc. | Elevance Health, Inc. | Elevance Health, Inc. |
|  5.850% due 11/01/2064 | 4500 | 4307 |
|  Embraer Netherlands Finance BV | Embraer Netherlands Finance BV | Embraer Netherlands Finance BV |
|  5.980% due 02/11/2035 | 1130 | 1167 |
|  Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
|  5.700% due 03/08/2033 | 2150 | 2228 |
|  5.950% due 04/05/2054 | 488 | 486 |
|  Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
|  5.300% due 04/15/2047 | 7400 | 6554 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.050% due 06/01/2041 | $— | 3200 | $— | 3205 |
|  6.250% due 04/15/2049 |  | 100 |  | 98 |
|  6.625% due 10/15/2036 |  | 5200 |  | 5623 |
|  7.500% due 07/01/2038 |  | 4135 |  | 4754 |
|  Eni SpA | Eni SpA | Eni SpA | Eni SpA | Eni SpA |
|  5.750% due 05/19/2035 |  | 1000 |  | 1038 |
|  Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
|  2.900% due 03/15/2051 |  | 2100 |  | 1289 |
|  4.900% due 04/15/2036 |  | 900 |  | 878 |
|  Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC |
|  4.450% due 02/15/2043 |  | 1000 |  | 865 |
|  Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. |
|  5.700% due 01/15/2035 |  | 800 |  | 813 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 |  | 800 |  | 787 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.450% due 03/10/2028 |  | 1000 |  | 997 |
|  FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. |
|  3.600% due 06/01/2029 |  | 3300 |  | 3206 |
|  Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC | Flex Intermediate Holdco LLC |
|  3.363% due 06/30/2031 |  | 5000 |  | 4555 |
|  4.317% due 12/30/2039 |  | 1750 |  | 1473 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  4.875% due 11/15/2030 |  | 1400 |  | 1376 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  3.625% due 03/15/2032 |  | 2500 |  | 2324 |
|  4.625% due 03/15/2052 |  | 1000 |  | 799 |
|  5.125% due 06/15/2039 |  | 2900 |  | 2735 |
|  5.250% due 06/15/2049 |  | 600 |  | 530 |
|  5.500% due 06/15/2047 |  | 450 |  | 413 |
|  6.000% due 04/01/2054 |  | 698 |  | 674 |
|  Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. |
|  6.450% due 12/10/2033 |  | 300 |  | 415 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  5.000% due 04/07/2031 (b) | $— | 1600 |  | 1602 |
|  5.400% due 06/24/2031 |  | 2800 |  | 2850 |
|  Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV |
|  5.250% due 02/15/2031 |  | 2300 |  | 2806 |
|  Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC | Imperial Brands Finance PLC |
|  3.500% due 07/26/2026 | $— | 550 |  | 548 |
|  Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA |
|  6.513% due 10/15/2031 •  |  | 2000 |  | 2215 |
|  JDE Peet's NV | JDE Peet's NV | JDE Peet's NV | JDE Peet's NV | JDE Peet's NV |
|  2.250% due 09/24/2031 | $— | 300 |  | 261 |
|  JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust |
|  4.000% due 05/15/2034 |  | 135 |  | 128 |
|  Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP |
|  6.500% due 09/01/2039 |  | 400 |  | 427 |
|  Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
|  5.200% due 03/15/2032 |  | 2400 |  | 2426 |
|  6.500% due 02/09/2040 |  | 310 |  | 325 |
|  Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. |
|  3.500% due 08/18/2026 |  | 800 |  | 797 |
|  3.900% due 08/08/2029 |  | 1600 |  | 1543 |
|  6.200% due 08/15/2034 |  | 719 |  | 737 |
|  Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. |
|  5.050% due 03/26/2031 |  | 1600 |  | 1594 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  5.500% due 04/15/2037 |  | 1700 |  | 1693 |
|  Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. |
|  4.800% due 03/01/2030 |  | 1200 |  | 1213 |
|  5.200% due 03/01/2035 |  | 2000 |  | 2020 |
|  5.650% due 05/01/2045 |  | 500 |  | 494 |
|  Mattel, Inc. | Mattel, Inc. | Mattel, Inc. | Mattel, Inc. | Mattel, Inc. |
|  5.000% due 11/17/2030 |  | 400 |  | 398 |
|  Medtronic, Inc. | Medtronic, Inc. | Medtronic, Inc. | Medtronic, Inc. | Medtronic, Inc. |
|  4.200% due 10/15/2045 |  | 800 |  | 885 |
|  Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
|  5.400% due 08/15/2054 | $— | 2400 |  | 2176 |
|  MGM China Holdings Ltd. | MGM China Holdings Ltd. | MGM China Holdings Ltd. | MGM China Holdings Ltd. | MGM China Holdings Ltd. |
|  5.875% due 05/15/2026 |  | 1100 |  | 1096 |
|  Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. |
|  5.050% due 02/15/2030 |  | 1100 |  | 1110 |

---

---

| | | |
|:---|:---|:---|
| **112** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Micron Technology, Inc. | Micron Technology, Inc. | Micron Technology, Inc. |
|  3.366% due 11/01/2041 | 300 | 233 |
|  Miller Homes Group Finco PLC | Miller Homes Group Finco PLC | Miller Homes Group Finco PLC |
|  6.234% due 10/15/2030 •  | 1000 | 1144 |
|  Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. |
|  4.625% due 07/03/2031 | 7600 | 5624 |
|  MPLX LP | MPLX LP | MPLX LP |
|  4.500% due 04/15/2038 | 805 | 724 |
|  4.700% due 04/15/2048 | 1500 | 1220 |
|  4.900% due 04/15/2058 | 75 | 61 |
|  4.950% due 03/14/2052 | 1400 | 1163 |
|  5.000% due 03/01/2033 | 988 | 983 |
|  5.400% due 04/01/2035 | 600 | 600 |
|  5.500% due 02/15/2049 | 1060 | 959 |
|  National Football League | National Football League | National Football League |
|  4.780% due 10/05/2030 «(i) | 2700 | 2687 |
|  5.250% due 10/05/2034 «(i) | 2300 | 2294 |
|  National Fuel Gas Co. | National Fuel Gas Co. | National Fuel Gas Co. |
|  2.950% due 03/01/2031 | 2700 | 2456 |
|  Newmont Corp./Newcrest Finance Pty. Ltd. | Newmont Corp./Newcrest Finance Pty. Ltd. | Newmont Corp./Newcrest Finance Pty. Ltd. |
|  4.200% due 05/13/2050 | 20 | 16 |
|  Northern Natural Gas Co. | Northern Natural Gas Co. | Northern Natural Gas Co. |
|  4.300% due 01/15/2049 | 6100 | 4855 |
|  Northern Star Resources Ltd. | Northern Star Resources Ltd. | Northern Star Resources Ltd. |
|  6.125% due 04/11/2033 | 3600 | 3724 |
|  Northwell Healthcare, Inc. | Northwell Healthcare, Inc. | Northwell Healthcare, Inc. |
|  4.260% due 11/01/2047 | 1800 | 1465 |
|  Novartis Capital Corp. | Novartis Capital Corp. | Novartis Capital Corp. |
|  5.600% due 03/18/2046 | 2800 | 2806 |
|  O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. |
|  5.100% due 03/12/2036 | 500 | 494 |
|  OAK-Eagle Acquireco, Inc. | OAK-Eagle Acquireco, Inc. | OAK-Eagle Acquireco, Inc. |
|  7.250% due 07/01/2033 (b) | 900 | 933 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  3.600% due 04/01/2040 | 100 | 73 |
|  3.600% due 04/01/2050 | 1120 | 677 |
|  3.650% due 03/25/2041 | 1900 | 1353 |
|  3.800% due 11/15/2037 | 2800 | 2225 |
|  3.850% due 04/01/2060 | 8005 | 4716 |
|  4.100% due 03/25/2061 | 3800 | 2338 |
|  4.500% due 07/08/2044 | 900 | 667 |
|  5.375% due 09/27/2054 | 700 | 543 |
|  5.500% due 09/27/2064 | 1300 | 997 |
|  PeaceHealth Obligated Group | PeaceHealth Obligated Group | PeaceHealth Obligated Group |
|  3.218% due 11/15/2050 | 1260 | 830 |
|  Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
|  10.000% due 02/07/2033 | 4271 | 4869 |
|  Pfizer Netherlands International Finance BV | Pfizer Netherlands International Finance BV | Pfizer Netherlands International Finance BV |
|  2.875% due 05/19/2029 | 600 | 685 |
|  Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. |
|  3.250% due 06/06/2032 | 600 | 674 |
|  3.875% due 08/21/2042 | 880 | 708 |
|  4.250% due 10/29/2032 | 2900 | 2810 |
|  Piedmont Healthcare, Inc. | Piedmont Healthcare, Inc. | Piedmont Healthcare, Inc. |
|  2.719% due 01/01/2042 | 500 | 351 |
|  2.864% due 01/01/2052 | 500 | 310 |
|  Post Holdings, Inc. | Post Holdings, Inc. | Post Holdings, Inc. |
|  6.500% due 03/15/2036 | 1500 | 1470 |
|  Renesas Electronics Corp. | Renesas Electronics Corp. | Renesas Electronics Corp. |
|  2.170% due 11/25/2026 | 4900 | 4825 |
|  Rogers Communications, Inc. | Rogers Communications, Inc. | Rogers Communications, Inc. |
|  3.200% due 03/15/2027 | 1000 | 988 |
|  Royalty Pharma PLC | Royalty Pharma PLC | Royalty Pharma PLC |
|  5.950% due 09/25/2055 | 1400 | 1363 |
|  Sands China Ltd. | Sands China Ltd. | Sands China Ltd. |
|  2.300% due 03/08/2027 | 2100 | 2051 |
|  3.250% due 08/08/2031 | 1300 | 1178 |
|  Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. |
|  5.750% due 11/13/2035 | 700 | 702 |
|  Saudi Arabian Oil Co. | Saudi Arabian Oil Co. | Saudi Arabian Oil Co. |
|  5.875% due 07/17/2064 | 2800 | 2553 |
|  6.375% due 06/02/2055 | 1000 | 996 |
|  Sealed Air Corp. | Sealed Air Corp. | Sealed Air Corp. |
|  1.573% due 10/15/2026 | 1921 | 1918 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Skyworks Solutions, Inc. | Skyworks Solutions, Inc. | Skyworks Solutions, Inc. |
|  3.000% due 06/01/2031 | 600 | 535 |
|  Smithfield Foods, Inc. | Smithfield Foods, Inc. | Smithfield Foods, Inc. |
|  4.250% due 02/01/2027 | 1000 | 995 |
|  Snam SpA | Snam SpA | Snam SpA |
|  5.750% due 05/28/2035 | 2000 | 2040 |
|  Spirit AeroSystems, Inc. | Spirit AeroSystems, Inc. | Spirit AeroSystems, Inc. |
|  3.850% due 06/15/2026 | 1300 | 1297 |
|  4.600% due 06/15/2028 | 1000 | 1001 |
|  Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust |
|  3.650% due 08/15/2031 | 288 | 264 |
|  T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
|  3.300% due 02/15/2051 | 1900 | 1245 |
|  3.400% due 10/15/2052 | 3500 | 2295 |
|  3.600% due 11/15/2060 | 5401 | 3509 |
|  Targa Resources Corp. | Targa Resources Corp. | Targa Resources Corp. |
|  6.125% due 03/15/2033 | 2100 | 2222 |
|  6.250% due 07/01/2052 | 702 | 702 |
|  6.500% due 02/15/2053 | 3400 | 3491 |
|  TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. |
|  1.750% due 08/09/2026 | 4200 | 4158 |
|  2.375% due 08/09/2028 | 3400 | 3229 |
|  2.650% due 08/09/2031 | 2340 | 2080 |
|  Tennessee Gas Pipeline Co. LLC | Tennessee Gas Pipeline Co. LLC | Tennessee Gas Pipeline Co. LLC |
|  2.900% due 03/01/2030 | 2660 | 2493 |
|  7.625% due 04/01/2037 | 4720 | 5564 |
|  8.375% due 06/15/2032 | 3600 | 4228 |
|  Teva Pharmaceutical Finance Netherlands II BV | Teva Pharmaceutical Finance Netherlands II BV | Teva Pharmaceutical Finance Netherlands II BV |
|  4.125% due 06/01/2031 | 2000 | 2284 |
|  Time Warner Cable LLC | Time Warner Cable LLC | Time Warner Cable LLC |
|  5.875% due 11/15/2040 | 500 | 454 |
|  6.750% due 06/15/2039 | 1300 | 1291 |
|  7.300% due 07/01/2038 | 1225 | 1283 |
|  Topaz Solar Farms LLC | Topaz Solar Farms LLC | Topaz Solar Farms LLC |
|  4.875% due 09/30/2039 | 3134 | 2837 |
|  Transcontinental Gas Pipe Line Co. LLC | Transcontinental Gas Pipe Line Co. LLC | Transcontinental Gas Pipe Line Co. LLC |
|  4.600% due 03/15/2048 | 1168 | 978 |
|  Transocean International Ltd. | Transocean International Ltd. | Transocean International Ltd. |
|  7.875% due 10/15/2032 | 225 | 241 |
|  Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. |
|  5.400% due 03/15/2029 | 1700 | 1745 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 | 439 | 404 |
|  2.875% due 04/07/2030 | 422 | 407 |
|  3.100% due 04/07/2030 | 361 | 346 |
|  3.450% due 01/07/2030 | 221 | 214 |
|  4.550% due 08/25/2031 | 1593 | 1538 |
|  5.875% due 04/15/2029 | 1701 | 1731 |
|  UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
|  5.050% due 04/15/2053 | 4600 | 4051 |
|  5.200% due 04/15/2063 | 5000 | 4369 |
|  5.750% due 07/15/2064 | 287 | 273 |
|  Vale Overseas Ltd. | Vale Overseas Ltd. | Vale Overseas Ltd. |
|  6.400% due 06/28/2054 | 3900 | 3953 |
|  Valley Children's Hospital | Valley Children's Hospital | Valley Children's Hospital |
|  4.399% due 03/15/2048 | 2000 | 1670 |
|  Var Energi ASA | Var Energi ASA | Var Energi ASA |
|  6.500% due 05/22/2035 | 1800 | 1896 |
|  Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC |
|  6.500% due 01/15/2034 | 100 | 104 |
|  6.750% due 01/15/2036 | 500 | 530 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  6.750% due 01/15/2033 | 1600 | 1432 |
|  VMware LLC | VMware LLC | VMware LLC |
|  2.200% due 08/15/2031 | 350 | 307 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.950% due 03/25/2027 | 2400 | 2410 |
|  Weir Group, Inc. | Weir Group, Inc. | Weir Group, Inc. |
|  5.350% due 05/06/2030 | 1300 | 1318 |
|  WESCO Distribution, Inc. | WESCO Distribution, Inc. | WESCO Distribution, Inc. |
|  5.250% due 04/15/2031 | 400 | 399 |
|  Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. |
|  4.800% due 11/15/2029 | 1200 | 1211 |
|  5.150% due 03/15/2034 | 2400 | 2404 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
|  5.100% due 09/12/2034 | 3250 | 3200 |
|  5.400% due 05/19/2030 | 3200 | 3269 |
|  Wynn Macau Ltd. | Wynn Macau Ltd. | Wynn Macau Ltd. |
|  5.625% due 08/26/2028 | 3300 | 3244 |
|  |  | 416973 |
| UTILITIES 11.0% | UTILITIES 11.0% | UTILITIES 11.0% |
|  AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
|  5.400% due 06/01/2033 | 3300 | 3346 |
|  AES Corp. | AES Corp. | AES Corp. |
|  5.450% due 06/01/2028 | 900 | 908 |
|  Alabama Power Co. | Alabama Power Co. | Alabama Power Co. |
|  4.300% due 01/02/2046 | 700 | 577 |
|  4.300% due 07/15/2048 | 2000 | 1621 |
|  Alliant Energy Finance LLC | Alliant Energy Finance LLC | Alliant Energy Finance LLC |
|  3.600% due 03/01/2032 | 1700 | 1573 |
|  Ameren Corp. | Ameren Corp. | Ameren Corp. |
|  5.700% due 12/01/2026 | 600 | 604 |
|  American Transmission Systems, Inc. | American Transmission Systems, Inc. | American Transmission Systems, Inc. |
|  5.000% due 09/01/2044 | 200 | 182 |
|  Arizona Public Service Co. | Arizona Public Service Co. | Arizona Public Service Co. |
|  2.650% due 09/15/2050 | 20 | 12 |
|  AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
|  3.500% due 09/15/2053 | 1883 | 1236 |
|  3.650% due 09/15/2059 | 6731 | 4365 |
|  Baltimore Gas & Electric Co. | Baltimore Gas & Electric Co. | Baltimore Gas & Electric Co. |
|  5.400% due 06/01/2053 | 3400 | 3207 |
|  Berkshire Hathaway Energy Co. | Berkshire Hathaway Energy Co. | Berkshire Hathaway Energy Co. |
|  4.250% due 10/15/2050 | 200 | 156 |
|  4.600% due 05/01/2053 | 400 | 327 |
|  6.125% due 04/01/2036 | 500 | 534 |
|  Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
|  6.000% due 01/15/2035 | 704 | 731 |
|  6.150% due 05/15/2034 | 4200 | 4427 |
|  Boston Gas Co. | Boston Gas Co. | Boston Gas Co. |
|  6.119% due 07/20/2053 | 4560 | 4521 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  4.800% due 03/15/2030 | 1000 | 1013 |
|  4.850% due 04/01/2036 | 400 | 392 |
|  Chile Electricity Lux MPC II SARL | Chile Electricity Lux MPC II SARL | Chile Electricity Lux MPC II SARL |
|  5.580% due 10/20/2035 | 4790 | 4818 |
|  Cleco Power LLC | Cleco Power LLC | Cleco Power LLC |
|  5.300% due 01/15/2036 | 800 | 794 |
|  Cleveland Electric Illuminating Co. | Cleveland Electric Illuminating Co. | Cleveland Electric Illuminating Co. |
|  4.550% due 11/15/2030 | 3500 | 3461 |
|  Commonwealth Edison Co. | Commonwealth Edison Co. | Commonwealth Edison Co. |
|  3.850% due 03/15/2052 | 100 | 74 |
|  Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. |
|  4.300% due 12/01/2056 | 100 | 78 |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  5.800% due 03/01/2033 | 4900 | 5135 |
|  Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
|  5.450% due 03/15/2035 | 2500 | 2520 |
|  DTE Electric Co. | DTE Electric Co. | DTE Electric Co. |
|  4.850% due 03/01/2036 | 2000 | 1963 |
|  Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
|  3.750% due 06/01/2045 | 270 | 207 |
|  4.000% due 09/30/2042 | 400 | 328 |
|  Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
|  5.800% due 06/15/2054 | 900 | 862 |
|  Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC |
|  3.000% due 12/15/2051 | 1496 | 947 |
|  3.850% due 11/15/2042 | 4600 | 3692 |
|  6.350% due 09/15/2037 | 200 | 216 |
|  Duke Energy Ohio, Inc. | Duke Energy Ohio, Inc. | Duke Energy Ohio, Inc. |
|  5.400% due 06/15/2033 | 110 | 112 |
|  Duke Energy Progress LLC | Duke Energy Progress LLC | Duke Energy Progress LLC |
|  2.500% due 08/15/2050 | 2390 | 1378 |
|  5.250% due 03/15/2033 | 4100 | 4222 |
|  Edison International | Edison International | Edison International |
|  5.750% due 06/15/2027 | 330 | 333 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **113** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Emera U.S. Finance LLC | Emera U.S. Finance LLC | Emera U.S. Finance LLC |
|  4.500% due 04/01/2029 | 1400 | 1399 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  7.500% due 10/14/2032 | 2768 | 3118 |
|  Entergy Arkansas LLC | Entergy Arkansas LLC | Entergy Arkansas LLC |
|  2.650% due 06/15/2051 | 60 | 35 |
|  3.350% due 06/15/2052 | 270 | 180 |
|  Entergy Corp. | Entergy Corp. | Entergy Corp. |
|  2.400% due 06/15/2031 | 2390 | 2124 |
|  Entergy Mississippi LLC | Entergy Mississippi LLC | Entergy Mississippi LLC |
|  5.050% due 04/15/2036 | 600 | 591 |
|  Entergy Texas, Inc. | Entergy Texas, Inc. | Entergy Texas, Inc. |
|  1.750% due 03/15/2031 | 3200 | 2798 |
|  5.800% due 09/01/2053 | 600 | 594 |
|  Evergy Kansas Central, Inc. | Evergy Kansas Central, Inc. | Evergy Kansas Central, Inc. |
|  5.250% due 03/15/2035 | 2100 | 2118 |
|  Eversource Energy | Eversource Energy | Eversource Energy |
|  5.125% due 05/15/2033 | 1500 | 1496 |
|  Gazprom PJSC via Gaz Finance PLC | Gazprom PJSC via Gaz Finance PLC | Gazprom PJSC via Gaz Finance PLC |
|  3.500% due 07/14/2031 | 8000 | 5200 |
|  Genesis Energy LP/Genesis Energy Finance Corp. | Genesis Energy LP/Genesis Energy Finance Corp. | Genesis Energy LP/Genesis Energy Finance Corp. |
|  6.750% due 03/15/2034 | 600 | 598 |
|  Georgia Power Co. | Georgia Power Co. | Georgia Power Co. |
|  3.250% due 03/15/2051 | 5300 | 3549 |
|  3.700% due 01/30/2050 | 1000 | 735 |
|  4.300% due 03/15/2042 | 3752 | 3240 |
|  5.125% due 05/15/2052 | 2400 | 2182 |
|  Greenko Power II Ltd. | Greenko Power II Ltd. | Greenko Power II Ltd. |
|  4.300% due 12/13/2028 | 312 | 293 |
|  Indiana Michigan Power Co. | Indiana Michigan Power Co. | Indiana Michigan Power Co. |
|  3.250% due 05/01/2051 | 1780 | 1168 |
|  6.050% due 03/15/2037 | 800 | 847 |
|  IPALCO Enterprises, Inc. | IPALCO Enterprises, Inc. | IPALCO Enterprises, Inc. |
|  4.250% due 05/01/2030 | 2800 | 2699 |
|  Israel Electric Corp. Ltd. | Israel Electric Corp. Ltd. | Israel Electric Corp. Ltd. |
|  3.750% due 02/22/2032 | 2400 | 2218 |
|  ITC Holdings Corp. | ITC Holdings Corp. | ITC Holdings Corp. |
|  4.875% due 04/15/2031 (b) | 1500 | 1501 |
|  Kentucky Utilities Co. | Kentucky Utilities Co. | Kentucky Utilities Co. |
|  3.300% due 06/01/2050 | 70 | 47 |
|  5.450% due 04/15/2033 | 2000 | 2068 |
|  Louisville Gas & Electric Co. | Louisville Gas & Electric Co. | Louisville Gas & Electric Co. |
|  5.450% due 04/15/2033 | 2000 | 2069 |
|  MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. |
|  2.700% due 08/01/2052 | 2300 | 1389 |
|  Narragansett Electric Co. | Narragansett Electric Co. | Narragansett Electric Co. |
|  5.350% due 05/01/2034 | 1400 | 1423 |
|  National Grid USA | National Grid USA | National Grid USA |
|  5.803% due 04/01/2035 | 120 | 125 |
|  New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. |
|  1.950% due 10/01/2030 | 480 | 421 |
|  2.150% due 10/01/2031 | 2000 | 1749 |
|  5.850% due 08/15/2033 | 700 | 731 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  3.830% due 06/12/2030 | 3600 | 2588 |
|  4.670% due 06/12/2035 | 3600 | 2603 |
|  Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. |
|  4.119% due 11/28/2042 | 3500 | 2826 |
|  Northern States Power Co. | Northern States Power Co. | Northern States Power Co. |
|  3.600% due 09/15/2047 | 6300 | 4660 |
|  Nova Securitisation SARL | Nova Securitisation SARL | Nova Securitisation SARL |
|  5.750% due 02/03/2031 | 2400 | 2325 |
|  6.500% due 02/03/2036 | 3000 | 2858 |
|  NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. |
|  2.450% due 12/02/2027 | 362 | 349 |
|  4.734% due 10/15/2030 | 2400 | 2379 |
|  Oglethorpe Power Corp. | Oglethorpe Power Corp. | Oglethorpe Power Corp. |
|  5.050% due 10/01/2048 | 1358 | 1186 |
|  Ohio Power Co. | Ohio Power Co. | Ohio Power Co. |
|  2.900% due 10/01/2051 | 1100 | 662 |
|  5.850% due 10/01/2035 | 100 | 104 |
|  ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. |
|  5.850% due 11/01/2064 | 2900 | 2645 |
|  7.150% due 01/15/2051 | 100 | 108 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Orange SA | Orange SA | Orange SA |
|  4.750% due 01/13/2033 | 1200 | 1187 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  2.500% due 02/01/2031 | 2100 | 1883 |
|  3.000% due 06/15/2028 | 3200 | 3098 |
|  3.250% due 06/01/2031 | 1700 | 1569 |
|  3.500% due 08/01/2050 | 7250 | 4798 |
|  3.750% due 08/15/2042 | 2790 | 2091 |
|  3.950% due 12/01/2047 | 1000 | 729 |
|  4.200% due 03/01/2029 | 2000 | 1977 |
|  4.250% due 03/15/2046 | 300 | 228 |
|  4.300% due 03/15/2045 | 500 | 391 |
|  4.400% due 03/01/2032 | 2000 | 1929 |
|  4.500% due 07/01/2040 | 6100 | 5208 |
|  4.550% due 07/01/2030 | 750 | 740 |
|  4.600% due 06/15/2043 | 900 | 744 |
|  4.750% due 02/15/2044 | 100 | 84 |
|  4.950% due 07/01/2050 | 370 | 307 |
|  5.250% due 03/01/2052 | 300 | 256 |
|  6.150% due 01/15/2033 | 1200 | 1255 |
|  PacifiCorp | PacifiCorp | PacifiCorp |
|  4.125% due 01/15/2049 | 8300 | 6091 |
|  4.150% due 02/15/2050 | 300 | 219 |
|  5.750% due 04/01/2037 | 60 | 59 |
|  6.000% due 01/15/2039 | 2040 | 2028 |
|  6.100% due 08/01/2036 | 60 | 61 |
|  6.250% due 10/15/2037 | 3300 | 3419 |
|  Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |
|  5.450% due 02/03/2036 | 800 | 766 |
|  Progress Energy, Inc. | Progress Energy, Inc. | Progress Energy, Inc. |
|  7.750% due 03/01/2031 | 3500 | 3948 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  5.150% due 09/15/2035 | 900 | 898 |
|  Public Service Electric & Gas Co. | Public Service Electric & Gas Co. | Public Service Electric & Gas Co. |
|  4.000% due 06/01/2044 | 5700 | 4516 |
|  Puget Energy, Inc. | Puget Energy, Inc. | Puget Energy, Inc. |
|  7.000% due 09/15/2056 •  | 2000 | 1985 |
|  RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC |
|  5.125% due 09/18/2035 | 400 | 389 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  4.100% due 06/15/2049 | 2970 | 2280 |
|  4.150% due 05/15/2048 | 9400 | 7394 |
|  Shell Finance U.S., Inc. | Shell Finance U.S., Inc. | Shell Finance U.S., Inc. |
|  5.125% due 10/15/2041 | 4300 | 4115 |
|  Sierra Pacific Power Co. | Sierra Pacific Power Co. | Sierra Pacific Power Co. |
|  6.750% due 07/01/2037 | 3600 | 3949 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.250% due 06/01/2030 | 800 | 724 |
|  2.500% due 06/01/2031 | 4700 | 4200 |
|  2.750% due 02/01/2032 | 2400 | 2142 |
|  2.950% due 02/01/2051 | 3000 | 1807 |
|  3.450% due 02/01/2052 | 2300 | 1507 |
|  3.650% due 03/01/2028 | 200 | 197 |
|  3.650% due 02/01/2050 | 1100 | 755 |
|  3.650% due 06/01/2051 | 2020 | 1386 |
|  3.900% due 12/01/2041 | 500 | 390 |
|  3.900% due 03/15/2043 | 3600 | 2730 |
|  4.650% due 10/01/2043 | 1850 | 1553 |
|  6.000% due 01/15/2034 | 3600 | 3755 |
|  Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
|  3.950% due 02/15/2050 | 1600 | 1197 |
|  4.125% due 06/01/2048 | 4417 | 3432 |
|  Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. |
|  6.200% due 03/15/2040 | 2200 | 2291 |
|  TXNM Energy, Inc. | TXNM Energy, Inc. | TXNM Energy, Inc. |
|  7.000% due 07/31/2056 •  | 800 | 798 |
|  Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
|  5.000% due 01/15/2036 | 3000 | 2939 |
|  5.875% due 11/30/2055 | 3100 | 3017 |
|  Virginia Electric & Power Co. | Virginia Electric & Power Co. | Virginia Electric & Power Co. |
|  4.900% due 09/15/2035 | 800 | 783 |
|  4.950% due 03/15/2036 | 900 | 878 |
|  Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC |
|  5.750% due 02/10/2063 | 800 | 745 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.875% due 06/28/2064 | 1729 | 1643 |
|  |  | 244330 |
|  Total Corporate Bonds & Notes (Cost $1,164,176) | Total Corporate Bonds & Notes (Cost $1,164,176) | 1083032 |
| MUNICIPAL BONDS & NOTES 1.4% | MUNICIPAL BONDS & NOTES 1.4% | MUNICIPAL BONDS & NOTES 1.4% |
| CALIFORNIA 0.4% | CALIFORNIA 0.4% | CALIFORNIA 0.4% |
|  Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 |
|  2.746% due 06/01/2034 | 200 | 177 |
|  3.000% due 06/01/2046 | 1540 | 1409 |
|  4.214% due 06/01/2050 | 2600 | 1972 |
|  Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 |
|  3.037% due 06/01/2032 | 4200 | 3788 |
|  Napa Valley Unified School District, California General Obligation Bonds, (BABs), Series 2010 | Napa Valley Unified School District, California General Obligation Bonds, (BABs), Series 2010 | Napa Valley Unified School District, California General Obligation Bonds, (BABs), Series 2010 |
|  6.507% due 08/01/2043 | 900 | 964 |
|  |  | 8310 |
| GEORGIA 0.4% | GEORGIA 0.4% | GEORGIA 0.4% |
|  Municipal Electric Authority of Georgia Revenue Bonds, (BABs), Series 2010 | Municipal Electric Authority of Georgia Revenue Bonds, (BABs), Series 2010 | Municipal Electric Authority of Georgia Revenue Bonds, (BABs), Series 2010 |
|  6.637% due 04/01/2057 | 7413 | 7956 |
| ILLINOIS 0.3% | ILLINOIS 0.3% | ILLINOIS 0.3% |
|  Illinois State General Obligation Bonds, (BABs), Series 2010 | Illinois State General Obligation Bonds, (BABs), Series 2010 | Illinois State General Obligation Bonds, (BABs), Series 2010 |
|  6.725% due 04/01/2035 | 77 | 80 |
|  Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 | Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 | Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 |
|  3.007% due 01/01/2033 | 5030 | 4565 |
|  Wheaton College, Illinois Revenue Bonds, Series 2004 | Wheaton College, Illinois Revenue Bonds, Series 2004 | Wheaton College, Illinois Revenue Bonds, Series 2004 |
|  6.090% due 10/01/2034 | 900 | 962 |
|  |  | 5607 |
| NEVADA 0.0% | NEVADA 0.0% | NEVADA 0.0% |
|  Reno, Nevada Revenue Bonds, (NPFGC Insured), Series 2005 | Reno, Nevada Revenue Bonds, (NPFGC Insured), Series 2005 | Reno, Nevada Revenue Bonds, (NPFGC Insured), Series 2005 |
|  0.000% due 06/01/2034 (d) | 700 | 469 |
| NEW MEXICO 0.0% | NEW MEXICO 0.0% | NEW MEXICO 0.0% |
|  New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017 | New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017 | New Mexico Hospital Equipment Loan Council Revenue Bonds, Series 2017 |
|  4.406% due 08/01/2046 | 1000 | 861 |
| NEW YORK 0.1% | NEW YORK 0.1% | NEW YORK 0.1% |
|  New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024 | New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024 | New York City, New York Transitional Finance Authority Revenue Bonds, Series 2024 |
|  4.375% due 05/01/2037 | 2890 | 2785 |
| OHIO 0.0% | OHIO 0.0% | OHIO 0.0% |
|  American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010 | American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010 | American Municipal Power, Inc., Ohio Revenue Bonds, Series 2010 |
|  7.834% due 02/15/2041 | 800 | 967 |
| PENNSYLVANIA 0.1% | PENNSYLVANIA 0.1% | PENNSYLVANIA 0.1% |
|  Commonwealth Financing Authority, Pennsylvania Revenue Bonds, Series 2021 | Commonwealth Financing Authority, Pennsylvania Revenue Bonds, Series 2021 | Commonwealth Financing Authority, Pennsylvania Revenue Bonds, Series 2021 |
|  2.991% due 06/01/2042 | 3770 | 2893 |
| TEXAS 0.1% | TEXAS 0.1% | TEXAS 0.1% |
|  Dallas, Texas General Obligation Bonds, Series 2005 | Dallas, Texas General Obligation Bonds, Series 2005 | Dallas, Texas General Obligation Bonds, Series 2005 |
|  0.000% due 02/15/2033 (d) | 2900 | 2110 |
|  Total Municipal Bonds & Notes (Cost $36,531) | Total Municipal Bonds & Notes (Cost $36,531) | 31958 |

---

114 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| U.S. GOVERNMENT AGENCIES 25.8% | U.S. GOVERNMENT AGENCIES 25.8% | U.S. GOVERNMENT AGENCIES 25.8% |
|  Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. |
|  5.125% due 07/09/2029 | 500 | 518 |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  5.000% due 03/01/2038 - 12/01/2038 | 8 | 7 |
|  6.000% due 04/01/2036 - 10/01/2037 | 18 | 19 |
|  6.375% due 10/01/2035 •  | 3 | 3 |
|  6.725% due 04/01/2035 •  | 7 | 7 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ | 4380 | 4256 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.187% due 01/15/2033 •  | 1 | 1 |
|  5.000% due 04/15/2038 | 167 | 170 |
|  6.000% due 06/15/2035 | 503 | 522 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  5.059% due 10/25/2044 - 02/25/2045 •  | 37 | 35 |
|  6.500% due 10/25/2043 | 29 | 29 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  5.113% due 06/01/2043 •  | 19 | 19 |
|  5.561% due 12/01/2034 •  | 89 | 91 |
|  5.634% due 10/01/2035 •  | 73 | 74 |
|  5.734% due 06/01/2035 •  | 235 | 239 |
|  5.810% due 06/01/2031 | 2000 | 2034 |
|  5.842% due 12/01/2033 •  | 8 | 8 |
|  5.876% due 06/01/2035 •  | 169 | 171 |
|  6.080% due 04/01/2035 •  | 63 | 64 |
|  6.155% due 11/01/2035 •  | 2 | 2 |
|  6.232% due 11/01/2034 •  | 108 | 113 |
|  6.275% due 09/01/2035 •  | 3 | 3 |
|  6.472% due 08/01/2035 •  | 11 | 11 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.000% due 12/25/2046 | 1526 | 1063 |
|  3.842% due 07/25/2037 •  | 3 | 3 |
|  3.912% due 03/25/2036 •  | 1 | 1 |
|  4.426% due 08/25/2040 •  | 168 | 168 |
|  5.000% due 08/25/2033 | 13 | 13 |
|  5.500% due 04/25/2033 - 08/25/2035 | 17 | 17 |
|  6.000% due 07/25/2031 - 03/25/2036 | 1114 | 1155 |
|  6.125% due 05/25/2035 ~ | 69 | 71 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  5.900% due 07/25/2042 | 3 | 3 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) | 15872 | 724 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  4.000% due 08/20/2055 - 12/20/2055 | 598 | 561 |
|  5.625% due 05/20/2030 •  | 11 | 11 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  3.250% due 02/20/2049 | 2769 | 2451 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 04/01/2056 - 05/01/2056 | 50998 | 47755 |
|  4.500% due 06/01/2040 - 04/01/2056 | 20300 | 19613 |
|  Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS |
|  0.000% due 01/15/2029 (a) | 1000 | 898 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  4.875% due 05/15/2035 | 4800 | 4938 |
|  U.S. Small Business Administration | U.S. Small Business Administration | U.S. Small Business Administration |
|  5.290% due 12/01/2027 | 27 | 27 |
|  5.510% due 11/01/2027 | 6 | 6 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 05/01/2056 - 06/01/2056 | 113837 | 107304 |
|  5.000% due 05/01/2056 | 131000 | 129044 |
|  6.000% due 05/01/2056 - 07/01/2056 | 237800 | 242026 |
|  6.500% due 05/01/2056 | 7800 | 8063 |
|  Total U.S. Government Agencies (Cost $574,434) | Total U.S. Government Agencies (Cost $574,434) | 574311 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. TREASURY OBLIGATIONS 74.8% | U.S. TREASURY OBLIGATIONS 74.8% | U.S. TREASURY OBLIGATIONS 74.8% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.125% due 05/15/2040 (k) | 44275 | 27905 |
|  1.125% due 08/15/2040 (k) | 95010 | 59263 |
|  1.375% due 11/15/2040 (k) | 55540 | 35794 |
|  1.625% due 11/15/2050 (k) | 14500 | 7568 |
|  1.750% due 08/15/2041 (k) | 80600 | 53912 |
|  1.875% due 02/15/2041 (k) | 427700 | 296458 |
|  1.875% due 02/15/2051 (k) | 52395 | 29104 |
|  2.000% due 11/15/2041 (k)(o) | 10500 | 7265 |
|  2.000% due 02/15/2050 | 22030 | 12831 |
|  2.250% due 08/15/2049 | 32576 | 20270 |
|  2.375% due 11/15/2049 (m) | 875 | 558 |
|  2.500% due 02/15/2045 | 15520 | 10889 |
|  2.750% due 11/15/2042 (k)(m) | 1000 | 761 |
|  2.750% due 08/15/2047 | 12900 | 9132 |
|  2.750% due 11/15/2047 (k) | 38200 | 26956 |
|  2.875% due 05/15/2049 (k) | 405 | 288 |
|  3.000% due 11/15/2044 | 14350 | 10992 |
|  3.000% due 05/15/2045 | 12360 | 9410 |
|  3.000% due 02/15/2047 | 18800 | 14013 |
|  3.000% due 02/15/2048 | 12900 | 9516 |
|  3.000% due 08/15/2048 (k)(m) | 141390 | 103806 |
|  3.000% due 02/15/2049 (k) | 89030 | 65051 |
|  3.125% due 02/15/2043 | 24610 | 19713 |
|  3.125% due 08/15/2044 (m) | 14310 | 11223 |
|  3.375% due 08/15/2042 (k) | 61350 | 51268 |
|  3.375% due 11/15/2048 (k) | 345100 | 270540 |
|  3.625% due 08/15/2043 (k) | 3200 | 2734 |
|  3.875% due 02/15/2043 | 12700 | 11289 |
|  3.875% due 05/15/2043 | 9100 | 8068 |
|  4.125% due 08/15/2044 (k) | 77000 | 69879 |
|  4.500% due 11/15/2054 (k) | 2700 | 2523 |
|  4.625% due 05/15/2044 (k) | 4900 | 4754 |
|  4.625% due 11/15/2044 (k) | 28200 | 27293 |
|  4.625% due 11/15/2045 (k) | 4100 | 3955 |
|  4.750% due 02/15/2045 (k) | 82400 | 80987 |
|  4.875% due 08/15/2045 (k) | 1500 | 1495 |
|  5.000% due 05/15/2045 (k) | 11100 | 11247 |
|  U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) |
|  0.625% due 07/15/2032 | 33915 | 32010 |
|  1.125% due 01/15/2033 (m) | 45931 | 44253 |
|  1.750% due 01/15/2034 | 47503 | 47321 |
|  1.875% due 07/15/2034 (k) | 3109 | 3126 |
|  2.125% due 01/15/2035 (k)(m) | 5874 | 5975 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  3.875% due 04/30/2030 (k)(m)(o) | 14300 | 14286 |
|  4.125% due 10/31/2029 (k)(m)(o) | 1520 | 1533 |
|  U.S. Treasury STRIPS | U.S. Treasury STRIPS | U.S. Treasury STRIPS |
|  0.000% due 05/15/2034 (a)(m) | 71900 | 50927 |
|  0.000% due 08/15/2034 (a) | 32970 | 23061 |
|  0.000% due 05/15/2035 (a)(m) | 32500 | 21900 |
|  0.000% due 11/15/2036 (a) | 37600 | 23383 |
|  0.000% due 08/15/2037 (a)(m) | 8900 | 5304 |
|  0.000% due 05/15/2041 (a) | 450 | 214 |
|  0.000% due 08/15/2041 (a) | 350 | 164 |
|  0.000% due 11/15/2041 (a) | 170 | 79 |
|  0.000% due 02/15/2042 (a) | 1850 | 841 |
|  0.000% due 05/15/2042 (a) | 1240 | 556 |
|  0.000% due 08/15/2042 (a) | 1890 | 834 |
|  0.000% due 11/15/2042 (a) | 810 | 352 |
|  Total U.S. Treasury Obligations (Cost $1,927,187) | Total U.S. Treasury Obligations (Cost $1,927,187) | 1664829 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 5.0% | NON-AGENCY MORTGAGE-BACKED SECURITIES 5.0% | NON-AGENCY MORTGAGE-BACKED SECURITIES 5.0% |
|  Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust |
|  4.604% due 10/25/2035 ~ | 397 | 353 |
|  American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust |
|  3.913% due 10/25/2046 •  | 46 | 43 |
|  4.779% due 11/25/2046 •  | 1466 | 344 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  5.710% due 02/20/2036 ~ | 74 | 72 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  5.270% due 08/25/2035 ~ | 221 | 214 |
|  Bank5 | Bank5 | Bank5 |
|  4.793% due 12/15/2058 | 7100 | 7135 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  4.534% due 09/15/2058 | 1000 | 995 |
|  5.015% due 09/15/2058 | 5000 | 5063 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.113% due 08/25/2036 •  | 1968 | 1796 |
|  4.330% due 11/25/2036 ~ | 94 | 52 |
|  4.718% due 09/25/2035 ~ | 1768 | 926 |
|  4.902% due 10/25/2035 ~ | 124 | 104 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  4.065% due 05/25/2047 ~ | 340 | 309 |
|  4.690% due 11/25/2030 ~ | 13 | 13 |
|  5.619% due 11/25/2034 ~ | 7 | 7 |
|  6.420% due 10/25/2035 •  | 15 | 14 |
|  Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust |
|  4.153% due 10/25/2036 •  | 1341 | 1201 |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  4.016% due 03/15/2052 | 4500 | 4404 |
|  4.767% due 01/15/2058 | 2900 | 2906 |
|  5.439% due 08/15/2058 ~ | 3200 | 3287 |
|  BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
|  5.187% due 07/15/2058 | 5000 | 5083 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  4.531% due 03/25/2037 ~ | 123 | 115 |
|  5.500% due 11/25/2035 | 1290 | 892 |
|  ChaseFlex Trust | ChaseFlex Trust | ChaseFlex Trust |
|  4.353% due 05/25/2037 •  | 1901 | 1833 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.253% due 05/25/2035 •  | 34 | 30 |
|  4.336% due 11/25/2037 ~ | 278 | 265 |
|  4.433% due 03/25/2035 •  | 86 | 75 |
|  4.787% due 11/25/2034 ~ | 26 | 25 |
|  5.023% due 02/20/2035 ~ | 1 | 1 |
|  5.236% due 11/20/2034 ~ | 5 | 5 |
|  5.250% due 05/25/2035 | 68 | 48 |
|  6.148% due 02/20/2036 •  | 68 | 64 |
|  6.224% due 02/20/2036 •  | 12 | 10 |
|  CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust |
|  4.213% due 07/25/2036 •  | 868 | 824 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  3.863% due 01/25/2037 •  | 14 | 13 |
|  4.593% due 08/25/2035 •  | 19 | 18 |
|  6.480% due 10/25/2035 •  | 10 | 10 |
|  COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
|  3.140% due 10/10/2036 | 4300 | 4169 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  3.985% due 12/20/2046 •  | 361 | 326 |
|  4.173% due 09/25/2046 •  | 349 | 346 |
|  4.210% due 03/20/2046 •  | 89 | 85 |
|  4.213% due 05/25/2036 •  | 1776 | 1694 |
|  4.353% due 02/25/2037 •  | 36 | 30 |
|  4.430% due 11/20/2035 •  | 1501 | 1438 |
|  4.430% due 12/20/2035 •  | 368 | 352 |
|  5.500% due 09/25/2035 | 950 | 655 |
|  5.500% due 10/25/2035 | 2107 | 1045 |
|  5.500% due 11/25/2035 | 431 | 228 |
|  5.500% due 03/25/2036 | 60 | 24 |
|  6.000% due 03/25/2036 | 2722 | 1189 |
|  6.250% due 08/25/2037 | 99 | 43 |
|  DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust | DSLA Mortgage Loan Trust |
|  4.311% due 08/19/2045 •  | 43 | 38 |
|  First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust |
|  4.333% due 12/25/2034 ~ | 1 | 1 |
|  GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
|  3.602% due 10/10/2049 ~ | 5225 | 4893 |
|  GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust |
|  4.143% due 01/25/2036 •  | 289 | 233 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  4.111% due 11/25/2035 ~ | 2 | 2 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  4.171% due 01/19/2038 •  | 980 | 879 |
|  4.201% due 12/19/2036 •  | 2338 | 1968 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  3.536% due 04/25/2037 ~ | 65 | 59 |
|  3.654% due 04/25/2037 ~ | 104 | 93 |
|  4.193% due 06/25/2046 •  | 267 | 243 |
|  4.313% due 07/25/2035 •  | 1997 | 1332 |
|  4.368% due 12/25/2034 ~ | 6 | 6 |

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| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **115** |

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| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

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---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  4.391% due 01/25/2037 ~ | 11 | 9 |
|  4.693% due 11/25/2049 •  | 177 | 175 |
|  4.693% due 12/25/2049 •  | 82 | 80 |
|  5.132% due 02/25/2035 ~ | 1 | 1 |
|  5.818% due 07/25/2035 ~ | 323 | 324 |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.153% due 12/25/2036 •  | 532 | 540 |
|  MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust |
|  4.003% due 04/25/2046 •  | 216 | 204 |
|  5.598% due 11/21/2034 ~ | 21 | 21 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates |
|  4.487% due 11/15/2031 •  | 6 | 5 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  5.449% due 05/25/2033 ~ | 4 | 4 |
|  5.844% due 02/25/2034 ~ | 2 | 2 |
|  6.595% due 07/25/2034 ~ | 30 | 30 |
|  7.000% due 05/25/2033 ~ | 2 | 2 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  4.093% due 08/25/2036 •  | 2513 | 522 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.750% due 11/25/2059 ~ | 2160 | 2076 |
|  4.500% due 05/25/2058 ~ | 1179 | 1150 |
|  Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust |
|  6.159% due 05/25/2036 ~ | 12561 | 2195 |
|  Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(b) | 36200 | 24976 |
|  RALI Trust | RALI Trust | RALI Trust |
|  4.213% due 04/25/2046 •  | 175 | 43 |
|  6.000% due 06/25/2036 | 3258 | 2601 |
|  6.000% due 08/25/2036 | 459 | 387 |
|  6.500% due 08/25/2036 | 823 | 735 |
|  Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust |
|  4.193% due 01/25/2046 •  | 183 | 49 |
|  4.243% due 04/25/2035 •  | 39 | 19 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.113% due 10/25/2035 •  | 20 | 19 |
|  4.233% due 05/25/2037 •  | 73 | 69 |
|  5.259% due 01/25/2035 •  | 30 | 28 |
|  5.628% due 12/25/2034 ~ | 5 | 5 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.213% due 04/25/2036 •  | 164 | 151 |
|  4.233% due 05/25/2036 •  | 91 | 77 |
|  4.413% due 12/25/2035 •  | 2 | 2 |
|  4.451% due 10/19/2034 •  | 5 | 4 |
|  Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates |
|  5.798% due 12/25/2033 ~ | 4 | 4 |
|  TBW Mortgage-Backed Trust | TBW Mortgage-Backed Trust | TBW Mortgage-Backed Trust |
|  6.000% due 07/25/2036 | 4569 | 1691 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  3.697% due 05/25/2046 •  | 17 | 14 |
|  4.163% due 05/25/2034 •  | 231 | 216 |
|  4.205% due 02/25/2037 ~ | 130 | 122 |
|  4.260% due 12/25/2036 ~ | 128 | 118 |
|  4.333% due 12/25/2045 •  | 16 | 16 |
|  4.373% due 10/25/2045 •  | 204 | 199 |
|  4.559% due 02/25/2047 •  | 248 | 233 |
|  4.559% due 03/25/2047 •  | 122 | 110 |
|  4.589% due 01/25/2047 •  | 1 | 1 |
|  4.619% due 04/25/2047 •  | 426 | 395 |
|  4.647% due 07/25/2037 ~ | 13 | 12 |
|  4.859% due 08/25/2046 •  | 501 | 473 |
|  4.907% due 08/25/2046 •  | 5088 | 4486 |
|  5.359% due 10/25/2046 •  | 2 | 2 |
|  5.359% due 11/25/2046 •  | 37 | 31 |
|  Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust |
|  4.829% due 05/25/2046 •  | 222 | 200 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  5.266% due 10/15/2042 •  | 1600 | 1599 |
|  5.315% due 07/15/2037 •  | 1500 | 1499 |
|  Worldwide Plaza Trust | Worldwide Plaza Trust | Worldwide Plaza Trust |
|  3.526% due 11/10/2036 | 3300 | 2638 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $120,658) | Total Non-Agency Mortgage-Backed Securities (Cost $120,658) | 110484 |

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| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| ASSET-BACKED SECURITIES 10.0% | ASSET-BACKED SECURITIES 10.0% | ASSET-BACKED SECURITIES 10.0% |
| AUTOMOBILE ABS OTHER 0.2% | AUTOMOBILE ABS OTHER 0.2% | AUTOMOBILE ABS OTHER 0.2% |
|  Ford Credit Floorplan Master Owner Trust A | Ford Credit Floorplan Master Owner Trust A | Ford Credit Floorplan Master Owner Trust A |
|  4.442% due 09/15/2029 •  | 5000 | 5029 |
| AUTOMOBILE SEQUENTIAL 0.5% | AUTOMOBILE SEQUENTIAL 0.5% | AUTOMOBILE SEQUENTIAL 0.5% |
|  Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
|  6.020% due 02/20/2030 | 7300 | 7579 |
|  FCCU Auto Receivables Trust | FCCU Auto Receivables Trust | FCCU Auto Receivables Trust |
|  5.540% due 04/16/2029 | 858 | 864 |
|  Ford Auto Securitization Trust | Ford Auto Securitization Trust | Ford Auto Securitization Trust |
|  5.053% due 07/15/2028 | 2862 | 2077 |
|  |  | 10520 |
| CASINO SERVICES 0.1% | CASINO SERVICES 0.1% | CASINO SERVICES 0.1% |
|  Gateway Casinos & Entertainment Ltd. | Gateway Casinos & Entertainment Ltd. | Gateway Casinos & Entertainment Ltd. |
|  5.000% due 03/12/2038 « | 3418 | 2290 |
| CMBS OTHER 0.6% | CMBS OTHER 0.6% | CMBS OTHER 0.6% |
|  ACREC LLC | ACREC LLC | ACREC LLC |
|  5.130% due 01/18/2043 •  | 3500 | 3498 |
|  AREIT Trust | AREIT Trust | AREIT Trust |
|  4.922% due 01/20/2037 •  | 1514 | 1514 |
|  FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC |
|  0.000% due 01/19/2044 •  | 1000 | 1000 |
|  KREF Ltd. | KREF Ltd. | KREF Ltd. |
|  5.127% due 02/17/2039 •  | 1580 | 1581 |
|  LMNT CRE LLC | LMNT CRE LLC | LMNT CRE LLC |
|  5.225% due 07/21/2043 •  | 2100 | 2101 |
|  LRECS LLC | LRECS LLC | LRECS LLC |
|  5.177% due 08/19/2043 •  | 2800 | 2795 |
|  PFP Ltd. | PFP Ltd. | PFP Ltd. |
|  5.180% due 08/18/2043 •  | 500 | 501 |
|  |  | 12990 |
| CREDIT CARD OTHER 0.3% | CREDIT CARD OTHER 0.3% | CREDIT CARD OTHER 0.3% |
|  Synchrony Card Funding LLC | Synchrony Card Funding LLC | Synchrony Card Funding LLC |
|  5.740% due 10/15/2029 | 5500 | 5549 |
| HOME EQUITY OTHER 1.9% | HOME EQUITY OTHER 1.9% | HOME EQUITY OTHER 1.9% |
|  ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust |
|  4.768% due 05/25/2034 •  | 569 | 604 |
|  Argent Securities Trust | Argent Securities Trust | Argent Securities Trust |
|  4.093% due 06/25/2036 •  | 4755 | 3160 |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.303% due 12/25/2036 •  | 53 | 52 |
|  C-BASS Trust | C-BASS Trust | C-BASS Trust |
|  3.304% due 01/25/2037 •  | 24 | 7 |
|  3.402% due 04/25/2037 þ | 47 | 47 |
|  CIT Mortgage Loan Trust | CIT Mortgage Loan Trust | CIT Mortgage Loan Trust |
|  5.293% due 10/25/2037 •  | 301 | 305 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  3.853% due 07/25/2045 •  | 6 | 4 |
|  4.143% due 03/25/2037 •  | 473 | 415 |
|  Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates |
|  4.273% due 04/25/2037 •  | 318 | 286 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.273% due 03/25/2036 •  | 777 | 721 |
|  4.433% due 09/25/2047 •  | 6614 | 5886 |
|  5.668% due 07/25/2035 •  | 75 | 75 |
|  Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC |
|  3.672% due 12/25/2035 •  | 681 | 663 |
|  3.908% due 07/25/2037 •  | 13 | 9 |
|  4.693% due 07/25/2035 •  | 252 | 244 |
|  First NLC Trust | First NLC Trust | First NLC Trust |
|  3.863% due 08/25/2037 •  | 13 | 6 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  4.858% due 06/25/2035 •  | 1473 | 1473 |

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| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  3.933% due 12/25/2036 •  | $| 5 | 2 |
|  4.053% due 12/25/2046 •  |  | 1162 | 615 |
|  4.073% due 12/25/2036 •  |  | 1435 | 766 |
|  4.113% due 04/25/2036 •  |  | 182 | 119 |
|  4.193% due 11/25/2036 •  |  | 167 | 77 |
|  4.193% due 01/25/2047 •  |  | 4769 | 2340 |
|  4.333% due 03/25/2047 •  |  | 630 | 467 |
|  Lehman ABS Mortgage Loan Trust | Lehman ABS Mortgage Loan Trust | Lehman ABS Mortgage Loan Trust | Lehman ABS Mortgage Loan Trust |
|  3.883% due 06/25/2037 •  |  | 10 | 7 |
|  Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust |
|  4.093% due 06/25/2036 •  |  | 14630 | 6872 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  4.153% due 02/25/2036 •  |  | 1671 | 595 |
|  4.618% due 10/25/2034 •  |  | 1943 | 1915 |
|  MASTR Specialized Loan Trust | MASTR Specialized Loan Trust | MASTR Specialized Loan Trust | MASTR Specialized Loan Trust |
|  4.313% due 02/25/2036 •  |  | 877 | 868 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.723% due 07/25/2035 •  |  | 484 | 489 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  3.993% due 02/25/2037 •  |  | 1895 | 830 |
|  4.013% due 10/25/2036 •  |  | 2429 | 1060 |
|  4.123% due 02/25/2037 •  |  | 3896 | 1705 |
|  4.253% due 09/25/2036 •  |  | 3044 | 1277 |
|  New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |
|  4.533% due 08/25/2034 •  |  | 7 | 7 |
|  4.873% due 01/25/2034 •  |  | 57 | 58 |
|  NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust |
|  4.133% due 01/25/2037 •  |  | 5835 | 1916 |
|  Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |
|  4.033% due 04/25/2037 •  |  | 2872 | 1425 |
|  4.528% due 05/25/2035 •  |  | 450 | 441 |
|  SASCO Mortgage Loan Trust | SASCO Mortgage Loan Trust | SASCO Mortgage Loan Trust | SASCO Mortgage Loan Trust |
|  4.918% due 04/25/2035 •  |  | 335 | 358 |
|  Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust |
|  3.873% due 06/25/2037 •  |  | 7 | 5 |
|  3.963% due 07/25/2037 •  |  | 234 | 210 |
|  4.013% due 01/25/2037 •  |  | 2849 | 2082 |
|  Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust |
|  5.518% due 11/25/2034 •  |  | 2253 | 2476 |
|  Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust |
|  4.253% due 04/25/2037 •  |  | 312 | 310 |
|  |  |  | 43249 |
| WHOLE LOAN COLLATERAL 0.1% | WHOLE LOAN COLLATERAL 0.1% | WHOLE LOAN COLLATERAL 0.1% | WHOLE LOAN COLLATERAL 0.1% |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  5.833% due 10/25/2036 ~ |  | 6 | 6 |
|  First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust |
|  4.013% due 12/25/2037 •  |  | 814 | 792 |
|  4.843% due 09/25/2033 •  |  | 1734 | 1748 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  4.373% due 12/25/2035 •  |  | 482 | 476 |
|  |  |  | 3022 |
| OTHER ABS 6.3% | OTHER ABS 6.3% | OTHER ABS 6.3% | OTHER ABS 6.3% |
|  37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. |
|  4.952% due 10/15/2034 •  |  | 1000 | 1001 |
|  37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. |
|  4.762% due 04/15/2035 •  |  | 1600 | 1601 |
|  37 Capital CLO II Ltd. | 37 Capital CLO II Ltd. | 37 Capital CLO II Ltd. | 37 Capital CLO II Ltd. |
|  4.962% due 07/15/2034 •  |  | 1000 | 1001 |
|  AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. |
|  4.868% due 01/20/2035 •  |  | 1000 | 1000 |
|  AMMC CLO 27 Ltd. | AMMC CLO 27 Ltd. | AMMC CLO 27 Ltd. | AMMC CLO 27 Ltd. |
|  4.748% due 01/20/2037 •  |  | 600 | 600 |
|  Anchorage Capital CLO 21 Ltd. | Anchorage Capital CLO 21 Ltd. | Anchorage Capital CLO 21 Ltd. | Anchorage Capital CLO 21 Ltd. |
|  4.718% due 10/20/2034 •  |  | 600 | 600 |
|  Arbour CLO DAC | Arbour CLO DAC | Arbour CLO DAC | Arbour CLO DAC |
|  3.314% due 05/15/2038 •  | EUR | 2000 | 2313 |
|  Arbour CLO XIII DAC | Arbour CLO XIII DAC | Arbour CLO XIII DAC | Arbour CLO XIII DAC |
|  3.154% due 08/15/2038 •  |  | 1100 | 1268 |

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| | | |
|:---|:---|:---|
| **116** | **PIMCO BOND FUNDS** | See Accompanying Notes |

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March 31, 2026

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| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Atlas Senior Loan Fund XV Ltd. | Atlas Senior Loan Fund XV Ltd. | Atlas Senior Loan Fund XV Ltd. |
|  4.891% due 10/23/2032 •  | 720 | 721 |
|  Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. | Atlas Senior Loan Fund XVI Ltd. |
|  4.768% due 01/20/2034 •  | 1100 | 1101 |
|  Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |
|  4.830% due 07/17/2035 •  | 900 | 900 |
|  Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC |
|  3.277% due 01/22/2038 •  | 1900 | 2195 |
|  Barings Euro CLO DAC | Barings Euro CLO DAC | Barings Euro CLO DAC |
|  3.269% due 10/21/2038 •  | 2200 | 2541 |
|  3.426% due 08/15/2039 •  | 1000 | 1154 |
|  Bayfront Iabs VII Pte. Ltd. | Bayfront Iabs VII Pte. Ltd. | Bayfront Iabs VII Pte. Ltd. |
|  0.000% due 04/11/2048 «•  | 3000 | 3000 |
|  Birch Grove CLO Ltd. | Birch Grove CLO Ltd. | Birch Grove CLO Ltd. |
|  5.258% due 07/17/2037 •  | 3300 | 3309 |
|  Bosphorus CLO IX DAC | Bosphorus CLO IX DAC | Bosphorus CLO IX DAC |
|  0.000% due 04/15/2038 •(b) | 1300 | 1503 |
|  Boyce Park CLO Ltd. | Boyce Park CLO Ltd. | Boyce Park CLO Ltd. |
|  4.668% due 04/21/2035 •  | 1800 | 1801 |
|  Cairn CLO XI DAC | Cairn CLO XI DAC | Cairn CLO XI DAC |
|  3.187% due 01/15/2040 •  | 1500 | 1733 |
|  Capital Four CLO IV DAC | Capital Four CLO IV DAC | Capital Four CLO IV DAC |
|  3.175% due 04/15/2038 •  | 1000 | 1152 |
|  Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC |
|  3.279% due 10/25/2038 •  | 900 | 1038 |
|  Capital Four U.S. CLO I Ltd. | Capital Four U.S. CLO I Ltd. | Capital Four U.S. CLO I Ltd. |
|  4.805% due 01/18/2035 •  | 1000 | 999 |
|  Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust |
|  4.772% due 08/16/2029 •  | 1000 | 999 |
|  5.022% due 10/16/2028 •  | 3000 | 3002 |
|  Carlyle U.S. CLO Ltd. | Carlyle U.S. CLO Ltd. | Carlyle U.S. CLO Ltd. |
|  4.748% due 01/25/2035 •  | 900 | 898 |
|  CarVal CLO I Ltd. | CarVal CLO I Ltd. | CarVal CLO I Ltd. |
|  4.901% due 07/16/2031 •  | 582 | 583 |
|  CBAMR Ltd. | CBAMR Ltd. | CBAMR Ltd. |
|  5.302% due 07/15/2037 •  | 2400 | 2406 |
|  Cumulus Static CLO DAC | Cumulus Static CLO DAC | Cumulus Static CLO DAC |
|  3.184% due 11/15/2033 •  | 1918 | 2220 |
|  CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC |
|  3.285% due 01/23/2039 •  | 1500 | 1731 |
|  CVC Cordatus Loan Fund XXX DAC | CVC Cordatus Loan Fund XXX DAC | CVC Cordatus Loan Fund XXX DAC |
|  3.229% due 05/15/2037 •  | 2000 | 2310 |
|  CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC |
|  2.824% due 08/15/2033 •  | 3721 | 4296 |
|  ECMC Group Student Loan Trust | ECMC Group Student Loan Trust | ECMC Group Student Loan Trust |
|  4.526% due 02/27/2068 •  | 809 | 805 |
|  Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. |
|  4.798% due 07/25/2034 •  | 1000 | 1001 |
|  Fair Oaks Loan Funding V DAC | Fair Oaks Loan Funding V DAC | Fair Oaks Loan Funding V DAC |
|  3.251% due 10/15/2036 •  | 1000 | 1155 |
|  Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. |
|  4.761% due 07/23/2032 •  | 198 | 199 |
|  GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. |
|  4.818% due 10/20/2034 •  | 1000 | 1001 |
|  Greywolf CLO IV Ltd. | Greywolf CLO IV Ltd. | Greywolf CLO IV Ltd. |
|  4.908% due 04/17/2034 •  | 550 | 551 |
|  Grosvenor Place CLO DAC | Grosvenor Place CLO DAC | Grosvenor Place CLO DAC |
|  3.256% due 01/15/2039 •  | 1700 | 1966 |
|  3.383% due 08/15/2039 •  | 1300 | 1503 |
|  Harvest CLO XVI DAC | Harvest CLO XVI DAC | Harvest CLO XVI DAC |
|  3.336% due 10/15/2038 •  | 2200 | 2541 |
|  Horizon Aircraft Finance I Ltd. | Horizon Aircraft Finance I Ltd. | Horizon Aircraft Finance I Ltd. |
|  4.458% due 12/15/2038 | 784 | 780 |
|  ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. |
|  4.661% due 01/16/2033 •  | 245 | 245 |
|  Indigo Credit Management I DAC | Indigo Credit Management I DAC | Indigo Credit Management I DAC |
|  3.276% due 10/15/2037 •  | 1000 | 1155 |
|  Indigo Credit Management II DAC | Indigo Credit Management II DAC | Indigo Credit Management II DAC |
|  3.216% due 07/15/2038 •  | 1250 | 1445 |
|  Invesco Euro CLO V DAC | Invesco Euro CLO V DAC | Invesco Euro CLO V DAC |
|  3.036% due 01/15/2034 •  | 1550 | 1794 |
|  Invesco Euro CLO XI DAC | Invesco Euro CLO XI DAC | Invesco Euro CLO XI DAC |
|  3.287% due 10/22/2036 •  | 1900 | 2195 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Invitation Homes Trust | Invitation Homes Trust | Invitation Homes Trust |
|  4.000% due 09/17/2041 | 7381 | 7196 |
|  Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. |
|  4.938% due 07/25/2035 •  | 1200 | 1202 |
|  KKR CLO 27 Ltd. | KKR CLO 27 Ltd. | KKR CLO 27 Ltd. |
|  4.782% due 01/15/2035 •  | 500 | 500 |
|  KKR CLO 33 Ltd. | KKR CLO 33 Ltd. | KKR CLO 33 Ltd. |
|  4.748% due 07/20/2034 •  | 400 | 400 |
|  Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. |
|  4.919% due 10/22/2034 •  | 1000 | 1001 |
|  Margay CLO II DAC | Margay CLO II DAC | Margay CLO II DAC |
|  3.244% due 07/15/2037 •  | 1000 | 1153 |
|  Mountain View CLO LLC | Mountain View CLO LLC | Mountain View CLO LLC |
|  4.547% due 04/14/2033 •  | 1000 | 999 |
|  MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC | MV Credit Euro CLO III DAC |
|  3.284% due 02/15/2038 •  | 1400 | 1618 |
|  Navesink CLO 2 Ltd. | Navesink CLO 2 Ltd. | Navesink CLO 2 Ltd. |
|  4.862% due 01/15/2036 •  | 800 | 800 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.610% due 02/21/2061 | 6809 | 6727 |
|  Neuberger Berman Loan Advisers CLO 45 Ltd. | Neuberger Berman Loan Advisers CLO 45 Ltd. | Neuberger Berman Loan Advisers CLO 45 Ltd. |
|  4.727% due 10/14/2036 •  | 1000 | 1001 |
|  Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. |
|  4.864% due 06/15/2031 •  | 267 | 267 |
|  Northwoods Capital XIV-B Ltd. | Northwoods Capital XIV-B Ltd. | Northwoods Capital XIV-B Ltd. |
|  4.883% due 11/13/2031 •  | 434 | 434 |
|  Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC |
|  0.000% due 10/15/2035 «•(b) | 1900 | 2196 |
|  3.047% due 07/15/2035 •  | 1200 | 1387 |
|  3.684% due 08/15/2033 •  | 2000 | 2315 |
|  Penta CLO 9 DAC | Penta CLO 9 DAC | Penta CLO 9 DAC |
|  2.880% due 07/25/2036 •  | 1500 | 1729 |
|  Pikes Peak CLO 4 | Pikes Peak CLO 4 | Pikes Peak CLO 4 |
|  4.882% due 07/15/2034 •  | 1000 | 1001 |
|  Providus CLO VII DAC | Providus CLO VII DAC | Providus CLO VII DAC |
|  3.181% due 07/15/2038 •  | 1000 | 1152 |
|  Romark CLO V Ltd. | Romark CLO V Ltd. | Romark CLO V Ltd. |
|  4.862% due 01/15/2035 •  | 1200 | 1199 |
|  Romark Credit Funding Ltd. | Romark Credit Funding Ltd. | Romark Credit Funding Ltd. |
|  5.423% due 07/29/2043 | 2900 | 2916 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.030% due 03/15/2056 (b) | 7800 | 7809 |
|  Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. |
|  4.948% due 01/25/2032 •  | 1672 | 1672 |
|  Switch ABS Issuer LLC | Switch ABS Issuer LLC | Switch ABS Issuer LLC |
|  5.121% due 10/25/2055 | 10350 | 10126 |
|  Symphony CLO 52 Ltd. | Symphony CLO 52 Ltd. | Symphony CLO 52 Ltd. |
|  4.815% due 01/20/2036 •  | 1100 | 1100 |
|  TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. |
|  4.864% due 07/15/2030 •  | 100 | 100 |
|  TCW CLO AMR Ltd. | TCW CLO AMR Ltd. | TCW CLO AMR Ltd. |
|  4.954% due 08/16/2034 •  | 1300 | 1302 |
|  Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust |
|  5.080% due 06/21/2050 | 361 | 361 |
|  Thayer Park CLO Ltd. | Thayer Park CLO Ltd. | Thayer Park CLO Ltd. |
|  4.668% due 04/20/2034 •  | 600 | 600 |
|  THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. |
|  4.872% due 04/15/2035 •  | 1100 | 1101 |
|  Toro European CLO 2 DAC | Toro European CLO 2 DAC | Toro European CLO 2 DAC |
|  3.020% due 07/25/2034 •  | 1300 | 1502 |
|  Unity-Peace Park CLO Ltd. | Unity-Peace Park CLO Ltd. | Unity-Peace Park CLO Ltd. |
|  4.723% due 04/20/2035 •  | 1800 | 1801 |
|  UPX HIL Issuer Trust | UPX HIL Issuer Trust | UPX HIL Issuer Trust |
|  5.160% due 01/25/2047 | 780 | 778 |
|  Venture 44 CLO Ltd. | Venture 44 CLO Ltd. | Venture 44 CLO Ltd. |
|  4.808% due 10/20/2034 •  | 1000 | 1001 |
|  Verdelite Static CLO Ltd. | Verdelite Static CLO Ltd. | Verdelite Static CLO Ltd. |
|  4.798% due 07/20/2032 •  | 481 | 482 |
|  Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. |
|  4.818% due 04/20/2034 •  | 2000 | 2002 |
|  Voya CLO Ltd. | Voya CLO Ltd. | Voya CLO Ltd. |
|  4.868% due 07/20/2032 •  | 1154 | 1154 |
|  5.029% due 07/14/2031 •  | 81 | 81 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Wellfleet CLO Ltd. | Wellfleet CLO Ltd. | Wellfleet CLO Ltd. |
|  4.822% due 07/15/2034 •  | 800 | 801 |
|  4.848% due 04/20/2034 •  | 600 | 601 |
|  |  | 140879 |
|  Total Asset-Backed Securities (Cost $233,668) | Total Asset-Backed Securities (Cost $233,668) | 223528 |
| SOVEREIGN ISSUES 7.0% | SOVEREIGN ISSUES 7.0% | SOVEREIGN ISSUES 7.0% |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.000% due 06/01/2034 | 3400 | 2383 |
|  Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA |
|  4.375% due 10/01/2030 | 2500 | 2482 |
|  5.750% due 05/05/2026 | 3000 | 3004 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  6.125% due 01/21/2031 | 400 | 394 |
|  7.375% due 09/18/2037 | 720 | 719 |
|  CPPIB Capital, Inc. | CPPIB Capital, Inc. | CPPIB Capital, Inc. |
|  4.300% due 06/02/2034 | 2400 | 1791 |
|  Eagle Funding Luxco SARL | Eagle Funding Luxco SARL | Eagle Funding Luxco SARL |
|  5.500% due 08/17/2030 | 7500 | 7549 |
|  Israel Government International Bonds | Israel Government International Bonds | Israel Government International Bonds |
|  5.500% due 03/12/2034 | 6200 | 6288 |
|  Ivory Coast Government International Bonds | Ivory Coast Government International Bonds | Ivory Coast Government International Bonds |
|  4.875% due 01/30/2032 | 6400 | 6900 |
|  5.250% due 03/22/2030 | 3400 | 3882 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.300% due 12/20/2054 | 1760000 | 8418 |
|  2.400% due 03/20/2055 | 265000 | 1295 |
|  2.800% due 06/20/2055 | 710000 | 3791 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | 2280000 | 11935 |
|  2.400% due 03/20/2045 | 424000 | 2361 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 | 2200 | 601 |
|  6.150% due 08/12/2032 | 86600 | 26025 |
|  6.950% due 08/12/2031 | 10800 | 3366 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  8.250% due 03/31/2032 | 17600 | 1016 |
|  8.500% due 01/31/2037 | 70800 | 3911 |
|  8.875% due 02/28/2035 | 633200 | 36777 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  2.875% due 04/13/2042 | 1690 | 1225 |
|  5.500% due 09/18/2028 | 2650 | 3164 |
|  6.750% due 07/11/2039 | 700 | 809 |
|  Spain Government Bonds | Spain Government Bonds | Spain Government Bonds |
|  5.150% due 10/31/2044 | 8800 | 11785 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  4.375% due 07/31/2054 | 3300 | 3637 |
|  Total Sovereign Issues (Cost $158,692) | Total Sovereign Issues (Cost $158,692) | 155508 |
|  | **SHARES** |  |
| PREFERRED SECURITIES 0.3% | PREFERRED SECURITIES 0.3% | PREFERRED SECURITIES 0.3% |
| BANKING & FINANCE 0.3% | BANKING & FINANCE 0.3% | BANKING & FINANCE 0.3% |
|  Brighthouse Holdings LLC | Brighthouse Holdings LLC | Brighthouse Holdings LLC |
|  6.500% due 07/27/2037 þ(f) | 1100000 | 937 |
|  Capital Farm Credit ACA | Capital Farm Credit ACA | Capital Farm Credit ACA |
|  8.393% due 06/15/2026 •(f) | 2700000 | 2692 |
|  CoBank ACB | CoBank ACB | CoBank ACB |
|  4.250% due 01/01/2027 •(f) | 2400000 | 2362 |
|  Farm Credit Bank of Texas | Farm Credit Bank of Texas | Farm Credit Bank of Texas |
|  7.750% due 06/15/2029 •(f) | 500000 | 523 |
|  Total Preferred Securities (Cost $6,700) | Total Preferred Securities (Cost $6,700) | 6514 |
| SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% |
| MUTUAL FUNDS 0.3% | MUTUAL FUNDS 0.3% | MUTUAL FUNDS 0.3% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (h) | 7078191 | 7078 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **117** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| REPURCHASE AGREEMENTS (j) 0.3% | REPURCHASE AGREEMENTS (j) 0.3% | REPURCHASE AGREEMENTS (j) 0.3% | REPURCHASE AGREEMENTS (j) 0.3% |
|  |  | $— | 6300 |
| Total Short-Term Instruments (Cost $13,378) | Total Short-Term Instruments (Cost $13,378) |  | 13378 |
| Total Investments in Securities (Cost $4,252,734) | Total Investments in Securities (Cost $4,252,734) |  | 3881223 |
| INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 68443 |  | 667 |
| Total Short-Term Instruments<br>(Cost $667) | Total Short-Term Instruments<br>(Cost $667) |  | 667 |

---

---

| | | |
|:---|:---|:---|
|  | MARKET<br>VALUE<br>(000S) | MARKET<br>VALUE<br>(000S) |
| Total Investments in Affiliates<br>(Cost $667) | $— | 667 |
| Total Investments 174.4%<br> (Cost $4,253,401) | $— | 3881890 |
|  Financial Derivative<br>Instruments (l)(n) 0.4%<br> (Cost or Premiums, net $13,274) |  | 7831 |
| Other Assets and Liabilities, net (74.8)% |  | (1664439) |
| Net Assets 100.0% | $— | 2225282 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

^ Security is in default.

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

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

(d) Zero coupon security.

(e) Principal amount of security is adjusted for inflation.

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

(g) Contingent convertible security.

(h) Coupon represents a 7-Day Yield.

&nbsp;&nbsp;&nbsp;&nbsp;(i) RESTRICTED SECURITIES:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Issuer Description | Coupon | Maturity<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  Hardwood Funding LLC | 5.330% | 06/07/2035 | 03/11/2025 | $900 | $908 | 0.04% |
|  Morgan Stanley | 0.000 | 04/02/2032 | 05/06/2020 | 3326 | 2757 | 0.13 |
|  National Football League | 4.780 | 10/05/2030 | 06/27/2025 | 2700 | 2687 | 0.12 |
|  National Football League | 5.250 | 10/05/2034 | 06/27/2025 | 2300 | 2294 | 0.10 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9226 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8646 | 0.39% |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(j) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| WAN | 3.710% | 03/31/2026 | 04/01/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | U.S. Treasury Notes 3.500% due 10/31/2027 | $(6432) | $6300 | $6301 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6432) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6301 |

---

118 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(2)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOS | 3.750% | 03/30/2026 | 04/06/2026 | $(2336) | $(2336) |
|  BRC | 3.250 | 03/20/2026 | 05/01/2026 | (1062) | (1063) |
|  | 3.500 | 02/17/2026 | TBD<sup>(3)</sup> | (421) | (422) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | (54629) | (54778) |
|  CIB | 3.780 | 03/11/2026 | 04/09/2026 | (12147) | (12173) |
|  DEU | 3.750 | 03/31/2026 | 04/07/2026 | (5022) | (5023) |
|  | 3.760 | 03/30/2026 | 04/06/2026 | (625) | (625) |
|  | 3.770 | 03/03/2026 | 04/07/2026 | (4999) | (5015) |
|  | 3.770 | 03/24/2026 | 04/07/2026 | (5938) | (5943) |
|  IND | 3.760 | 03/31/2026 | 04/07/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147659) | (147675) |
|  JPS | 3.760 | 03/12/2026 | 04/23/2026 | (6017) | (6030) |
|  | 3.760 | 03/13/2026 | 04/17/2026 | (6993) | (7007) |
|  | 3.760 | 03/23/2026 | 04/06/2026 | (5386) | (5392) |
|  NOM | 3.750 | 04/02/2026 | 04/16/2026 | (9558) | (9558) |
|  | 3.760 | 02/19/2026 | 04/02/2026 | (5625) | (5649) |
|  NXN | 3.750 | 04/01/2026 | 04/20/2026 | (236701) | (236701) |
|  | 3.770 | 03/18/2026 | 04/01/2026 | (238435) | (238784) |
|  RCY | 3.770 | 02/06/2026 | 04/20/2026 | (192967) | (194058) |
|  | 3.770 | 02/24/2026 | 04/20/2026 | (72284) | (72556) |
|  STR | 3.730 | 04/01/2026 | 04/02/2026 | (255207) | (255207) |
|  | 3.760 | 03/31/2026 | 04/01/2026 | (252455) | (252455) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1518450) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(2)</sup> | Borrowing<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(4)</sup> |
|  BCY | 3.740% | 04/01/2026 | 04/08/2026 | $(1625) | $(1624) |
|  | 3.770 | 03/27/2026 | 04/06/2026 | (2754) | (2756) |
|  TDM | 3.770 | 03/12/2026 | 04/23/2026 | (6086) | (6099) |
|  UBS | 3.770 | 02/24/2026 | 04/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64478) | (64721) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75200) |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (0.5)% |  |  |  |  |  |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.000% | 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10749 | $(10247) | $(10135) |
|  Total Short Sales (0.5)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10247) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10135) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(4)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(5)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOS | $0 | $(2336) | $0 | $(2336) | $2332 | $(4) |
|  BRC | 0 | (1485) | 0 | (1485) | 1501 | 16 |
|  BSN | 0 | (54778) | 0 | (54778) | 54547 | (231) |
|  CIB | 0 | (12173) | 0 | (12173) | 12117 | (56) |
|  DEU | 0 | (16606) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | (16606) | 16269 | (337) |
|  IND | 0 | (147675) | 0 | (147675) | 147258 | (417) |
|  JPS | 0 | (18429) | 0 | (18429) | 18555 | 126 |
|  NOM | 0 | (15207) | 0 | (15207) | 5370 | (9837) |
|  NXN | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(475485) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(475485) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(238785) |
|  RCY | 0 | (266614) | 0 | (266614) | 263721 | (2893) |
|  STR | 0 | (507662) | 0 | (507662) | 257066 | (250596) |
|  WAN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6301 | 0 | 0 | 6301 | (6432) | (131) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **119** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** | **Payable for<br>Reverse<br>Repurchase<br>Agreements** | **Payable for<br>Sale-Buyback<br>Transactions<sup>(4)</sup>** | **Total<br>Borrowings and<br>Other Financing<br>Transactions** | **Collateral<br>Pledged/(Received)** | **Net Exposure<sup>(5)</sup>** |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  BCY | $0 | $0 | $(4380) | $(4380) | $4388 | $8 |
|  TDM | 0 | 0 | (6099) | (6099) | 5994 | (105) |
|  UBS | 0 | 0 | (64721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(304) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1518450) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75200) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  Corporate Bonds & Notes | $0 | $0 | $(1063) | $(422) | $(1485) |
|  U.S. Treasury Obligations | (491239) | (524260) | 0 | 0 | (1015499) |
|  Total | $(491239) | $(524260) | $(1063) | $(422) | $(1016984) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (75200) | 0 | 0 | (75200) |
|  Total | $0 | $(75200) | $0 | $0 | $(75200) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(491239) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599460) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1063) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(422) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1092184) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions <sup>(6)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions <sup>(6)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions <sup>(6)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions <sup>(6)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions <sup>(6)</sup> | $(1092184) |

---

(k) Securities with an aggregate market value of $1,090,403 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(894088) at a weighted average interest rate of 4.147%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(3)</sup> Open maturity reverse repurchase agreement.

<sup>(4)</sup> Payable for sale-buyback transactions includes $(172) of deferred price drop. 

<sup>(5)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(6)</sup> Unsettled reverse repurchase agreements liability of $(501466) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(l) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract June Futures  | 09/2027 | 668 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161063 | $(785) | $33 | $0 |
|  3-Month SOFR Active Contract March Futures  | 06/2027 | 650 | 156626 | (875) | 49 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 650 | 156869 | (537) | 32 | 0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 406 | 30184 | (188) | 284 | 0 |
|  Long Guilt June Futures  | 06/2026 | 690 | 80177 | (4283) | 603 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 1756 | 364274 | (1528) | 137 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 1241 | 137809 | (2338) | 291 | 0 |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 2887 | 336516 | (10668) | 632 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21202) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Oat June Futures  | 06/2026 | 214 | $(29358) | $932 | $0 | $(272) |
|  Japan Government 10-Year Bond June Futures  | 06/2026 | 78 | (64044) | 762 | 15 | (138) |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 2146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232154) | 2336 | 0 | (302) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 5097 | (578589) | 12897 | 0 | (1513) |
|  |  |  |  | $16927 | $15 | $(2225) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4275) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2225) |

---

120 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(4)</sup>** | Variation Margin | Variation Margin |
| **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(4)</sup>** | Asset | Liability |
| AT&T, Inc. | 1.000% | Quarterly | 06/20/2028 | 0.395% | $23500 | $(128) | $441 | $313 | $8 | $0 |
| Barclays PLC | 1.000 | Quarterly | 12/20/2030 | 0.807 | 1000 | 16 | (6) | 10 | 1 | 0 |
| Glencore Finance | 5.000 | Quarterly | 12/20/2029 | 0.735 | 1600 | 338 | (56) | 282 | 0 | (1) |
| Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | $800 | 3 | (2) | 1 | 0 | 0 |
| T-Mobile USA, Inc. | 5.000 | Quarterly | 06/20/2028 | 0.255 | 2400 | 413 | (164) | 249 | 1 | 0 |
| Verizon Communications, Inc. | 1.000 | Quarterly | 06/20/2028 | 0.368 | 3000 | (9) | 51 | 42 | 1 | 0 |
| Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2028 | 0.423 | 800 | (2) | 14 | 12 | 0 | 0 |
| Volkswagen International<br>Finance NV | 1.000 | Quarterly | 06/20/2028 | 0.426 | 200 | 2 | 1 | 3 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(4)</sup>** | Variation Margin | Variation Margin |
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(4)</sup>** | Asset | Liability |
|  CDX.IG-44 5-Year Index | 1.000% | Quarterly | 06/20/2030 | $1100 | $24 | $(4) | $20 | $2 | $0 |
|  CDX.IG-45 5-Year Index | 1.000 | Quarterly | 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245310 | 5435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1006) | 4429 | 480 | 0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 152000 | 2573 | 102 | 2675 | 329 | 0 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8032 | $(908) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7124 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/ (Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/ (Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
|  Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 69740 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1482) | $(1491) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2973) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | $0 |
|  Receive | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 03/18/2036 | 26870 | 83 | 1203 | 1286 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(114) |
|  Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/16/2036 | 56300 | 2309 | 637 | 2946 | 0 | (225) |
|  Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 03/18/2028 | 9140000 | 260 | 128 | 388 | 0 | (33) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.638 | Annual | 05/31/2028 | $7400 | 0 | 25 | 25 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 05/31/2028 | 14900 | 0 | 43 | 43 | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.662 | Annual | 05/31/2028 | 72000 | 0 | 193 | 193 | 0 | (32) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 05/31/2028 | 134400 | 0 | 295 | 295 | 0 | (60) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 05/31/2028 | 72000 | 0 | 132 | 132 | 0 | (32) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 05/31/2028 | 71700 | 0 | 126 | 126 | 0 | (32) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 05/31/2028 | 5100 | 0 | (8) | (8) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 68400 | 109 | (288) | (179) | 0 | (55) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 1700 | (3) | (13) | (16) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 02/28/2031 | 30590 | 180 | (434) | (254) | 0 | (33) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.328 | Annual | 04/30/2031 | 16300 | 0 | 349 | 349 | 0 | (18) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.431 | Annual | 04/30/2031 | 25900 | 0 | 402 | 402 | 0 | (27) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 06/30/2031 | 48400 | 5 | 1057 | 1062 | 0 | (54) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.441 | Semi-Annual | 07/21/2031 | 55500 | (189) | 7046 | 6857 | 0 | (49) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 105223 | (105) | (202) | (307) | 0 | (124) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | 36800 | 284 | 237 | 521 | 0 | (41) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.950 | Annual | 09/13/2033 | 18300 | (65) | 312 | 247 | 20 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.650 | Annual | 03/05/2034 | 13200 | (56) | (51) | (107) | 13 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.465 | Annual | 10/30/2034 | 10200 | (33) | (232) | (265) | 10 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 11/01/2034 | 1500 | (5) | (33) | (38) | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 | 4800 | (10) | 55 | 45 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 4500 | (9) | 41 | 32 | 0 | (4) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | 27300 | 334 | (41) | 293 | 0 | (20) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.368 | Annual | 11/15/2049 | 100 | 0 | 13 | 13 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.464 | Annual | 11/15/2049 | 300 | 0 | 33 | 33 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.527 | Annual | 11/15/2049 | 100 | 0 | 10 | 10 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/15/2051 | 23200 | (989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10048 | 9059 | 62 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 2.330 | Semi-Annual | 10/25/2053 | 41590 | 2597 | 11730 | 14327 | 131 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 11/15/2053 | 200 | (2) | 31 | 29 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 11/15/2053 | 100 | 2 | 1 | 3 | 0 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.992 | Annual | 11/15/2053 | 1400 | 0 | (37) | (37) | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.085 | Annual | 11/15/2053 | 396 | 1 | 4 | 5 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.809 | Annual | 02/15/2055 | 7400 | 0 | 431 | 431 | 27 | 0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 13200 | 253 | 56 | 309 | 52 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **121** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/ (Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/ (Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Pay<sup>(5)</sup> | 6-Month AUD-BBR-BBSW | 4.750% | Semi-Annual | 12/20/2033 | AUD | 76600 | $(159) | $(428) | $(587) | $340 | $0 |
|  Pay | 6-Month EUR-EURIBOR | 2.770 | Annual | 04/16/2029 | EUR | 1200 | (2) | 22 | 20 | 3 | 0 |
|  Pay | 6-Month EUR-EURIBOR | 2.770 | Annual | 04/29/2034 |  | 4400 | (12) | 13 | 1 | 32 | 0 |
|  Pay | 6-Month EUR-EURIBOR | 2.420 | Annual | 03/07/2035 |  | 3200 | (8) | (164) | (172) | 25 | 0 |
|  Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 |  | 35460 | (517) | (773) | (1290) | 313 | 0 |
|  Receive<sup>(5)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 |  | 24000 | 306 | 299 | 605 | 0 | (268) |
|  Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 | CAD | 5500 | 12 | 9 | 21 | 0 | (10) |
|  |  |  |  |  |  |  | $3089 | $30786 | $33875 | $1254 | $(1254) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11754 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30157 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41911 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1255) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | **Total** | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | **Total** | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4152 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2225) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1255) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3480) |

---

(m) Securities with an aggregate market value of $60,966 and cash of $5,576 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> 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. 

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(n) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | Currency to<br>be Received | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | Currency to<br>be Received | Asset | Liability |
|  AZD | 04/2026 | 52264 | $38154 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | $0 |
|  | 04/2026 | 26 | 20 | 0 | 0 |
|  BOA | 04/2026 | 12520 | 2397 | 0 | (20) |
|  | 04/2026 | 5959 | 864 | 0 | (1) |
|  | 04/2026 | 3071 | 3572 | 22 | 0 |
|  | 04/2026 | 197128 | 2099 | 18 | 0 |
|  | 04/2026 | 1284993 | 879 | 28 | 0 |
|  | 04/2026 | 4727 | 1278 | 5 | 0 |
|  | 04/2026 | $2399 | 12520 | 18 | 0 |
|  | 04/2026 | 310 | 2136 | 0 | 0 |
|  | 04/2026 | 94264 | 82019 | 537 | 0 |
|  | 04/2026 | 1062 | 3277 | 0 | (20) |
|  | 04/2026 | 2099 | 197481 | 2 | 0 |
|  | 04/2026 | 336 | 6195 | 9 | 0 |
|  | 05/2026 | 82019 | $94410 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(536) |
|  | 06/2026 | 9734 | 3153 | 50 | 0 |
|  | 06/2026 | 30723 | 1714 | 10 | 0 |

---

---

| | | |
|:---|:---|:---|
| **122** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 06/2026 | $909 | 4821 | $10 | $0 |
|  | 06/2026 | 439 | 1368 | 0 | (3) |
|  BPS | 04/2026 | 916 | $652 | 20 | 0 |
|  | 04/2026 | 12860 | 2463 | 0 | (19) |
|  | 04/2026 | 2001 | 291 | 0 | 0 |
|  | 04/2026 | 2319 | 2742 | 61 | 0 |
|  | 04/2026 | 7707 | 2496 | 44 | 0 |
|  | 04/2026 | 2308476 | 1538 | 5 | (3) |
|  | 04/2026 | 3192 | 870 | 11 | (1) |
|  | 04/2026 | 210401 | 6509 | 124 | (3) |
|  | 04/2026 | $3921 | 5588 | 0 | (65) |
|  | 04/2026 | 2464 | 12860 | 19 | 0 |
|  | 04/2026 | 10510 | 177843874 | 1 | (34) |
|  | 04/2026 | 1450 | 4593 | 11 | 0 |
|  | 04/2026 | 1693 | 2531243 | 3 | (16) |
|  | 04/2026 | 2500 | 9016 | 0 | (71) |
|  | 04/2026 | 3 | 83 | 0 | 0 |
|  | 04/2026 | 5771 | 184447 | 1 | (14) |
|  | 04/2026 | 26875 | $1587 | 1 | 0 |
|  | 05/2026 | 4588 | 1450 | 0 | (11) |
|  | 05/2026 | 457847 | 4839 | 0 | (20) |
|  | 05/2026 | 105176 | 3264 | 0 | (15) |
|  | 05/2026 | $1890 | 9921 | 14 | 0 |
|  | 05/2026 | 2424 | 41266416 | 6 | 0 |
|  | 05/2026 | 480 | 15758 | 0 | (1) |
|  | 06/2026 | 1654 | 27859621 | 0 | (16) |
|  BRC | 04/2026 | 68 | $49 | 0 | 0 |
|  | 04/2026 | 1336 | 371 | 11 | 0 |
|  | 04/2026 | 16399 | 520 | 23 | 0 |
|  | 04/2026 | 1288664 | 28384 | 0 | (213) |
|  | 04/2026 | $2030 | 18416 | 0 | (84) |
|  | 04/2026 | 15413 | 704920 | 153 | 0 |
|  | 04/2026 | 66467 | $4062 | 139 | 0 |
|  | 05/2026 | 6106 | 7661 | 0 | (3) |
|  | 05/2026 | 116448 | 2497 | 0 | (17) |
|  | 05/2026 | $49 | 68 | 0 | 0 |
|  | 06/2026 | 2028 | $659 | 13 | 0 |
|  BSH | 04/2026 | 950 | 1265 | 7 | 0 |
|  | 04/2026 | $2952 | 471281 | 17 | 0 |
|  | 04/2026 | 23214 | 40211 | 0 | (107) |
|  | 04/2026 | 10178 | 36814 | 0 | (261) |
|  | 05/2026 | 469861 | $2952 | 0 | (17) |
|  | 05/2026 | 40211 | 23240 | 108 | 0 |
|  | 05/2026 | 42454 | 12162 | 120 | (130) |
|  | 05/2026 | $1265 | 950 | 0 | (7) |
|  | 07/2026 | 25527 | $7576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | 0 |
|  CBK | 04/2026 | 4311 | 3036 | 62 | 0 |
|  | 04/2026 | 2972 | 2180 | 43 | 0 |
|  | 04/2026 | 2032 | 294 | 0 | (1) |
|  | 04/2026 | 1822 | 2436 | 24 | 0 |
|  | 04/2026 | 11299464 | 669 | 4 | 0 |
|  | 04/2026 | 1504503 | 16098 | 209 | 0 |
|  | 04/2026 | 8610 | 886 | 0 | (3) |
|  | 04/2026 | 26647 | 7685 | 30 | 0 |
|  | 04/2026 | 6765 | 725 | 11 | 0 |
|  | 04/2026 | 142 | 5 | 0 | 0 |
|  | 04/2026 | 8741 | 274 | 1 | 0 |
|  | 04/2026 | $1186 | 1675 | 0 | (31) |
|  | 04/2026 | 920 | 6342 | 1 | 0 |
|  | 04/2026 | 1272 | 944 | 0 | (23) |
|  | 04/2026 | 39754 | 3663326 | 32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978) |
|  | 05/2026 | 10 | $0 | 0 | 0 |
|  | 05/2026 | 11962 | 3507 | 79 | 0 |
|  | 06/2026 | 19268296 | 1144 | 12 | 0 |
|  | 06/2026 | 1878 | 609 | 11 | 0 |
|  | 06/2026 | $1271 | 21433304 | 0 | (10) |
|  | 06/2026 | 2935 | 51884 | 0 | (57) |
|  | 09/2026 | 686 | 12279 | 0 | (11) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **123** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  DUB | 04/2026 | 5944 | $859 | $0 | $(3) |
|  | 04/2026 | 15550 | 5024 | 76 | 0 |
|  | 04/2026 | 602184 | 6394 | 42 | (8) |
|  | 04/2026 | $14148 | 20624 | 81 | 0 |
|  | 04/2026 | 1741 | 11928 | 0 | (9) |
|  | 04/2026 | 7032 | 662756 | 46 | (34) |
|  | 04/2026 | 32097 | 41000 | 0 | (207) |
|  | 04/2026 | 2156 | 70401 | 0 | (19) |
|  | 05/2026 | 20624 | $14143 | 0 | (82) |
|  | 05/2026 | 40909 | 32097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | 0 |
|  | 05/2026 | $859 | 5930 | 4 | 0 |
|  | 06/2026 | 70258 | $2156 | 12 | 0 |
|  FAR | 04/2026 | 9454 | 6700 | 177 | 0 |
|  | 04/2026 | 6939 | 8991 | 313 | 0 |
|  | 04/2026 | 4408 | 5906 | 71 | 0 |
|  | 04/2026 | 613173 | 3924 | 61 | 0 |
|  | 04/2026 | 1488 | 412 | 11 | 0 |
|  | 04/2026 | 4 | 3 | 0 | 0 |
|  | 04/2026 | $5099 | 3790 | 0 | (82) |
|  | 04/2026 | 3677 | 586788 | 21 | 0 |
|  | 04/2026 | 173 | 221 | 0 | (1) |
|  | 05/2026 | 7630 | $2411 | 0 | (19) |
|  | 05/2026 | 585016 | 3677 | 0 | (21) |
|  | 05/2026 | 221 | 173 | 1 | 0 |
|  | 05/2026 | $5906 | 4408 | 0 | (72) |
|  | 06/2026 | 6730 | $2184 | 39 | 0 |
|  | 06/2026 | $2629 | 45805 | 0 | (89) |
|  | 09/2026 | 557 | 9838 | 0 | (16) |
|  GLM | 04/2026 | 158260 | $30030 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(523) |
|  | 04/2026 | 8342 | 2683 | 29 | 0 |
|  | 04/2026 | 19957 | 219 | 8 | 0 |
|  | 04/2026 | $29431 | 158260 | 1122 | 0 |
|  | 04/2026 | 833 | 5720 | 0 | (3) |
|  | 04/2026 | 956 | 16148769 | 0 | (5) |
|  | 04/2026 | 2841 | 52389 | 80 | 0 |
|  | 04/2026 | 1207 | 39607 | 0 | (5) |
|  | 06/2026 | 13598768 | $807 | 7 | 0 |
|  | 06/2026 | 39537 | 1207 | 1 | 0 |
|  | 06/2026 | $2720 | 14472 | 38 | 0 |
|  | 06/2026 | 1405 | 23781913 | 0 | (7) |
|  | 06/2026 | 8834 | 155539 | 0 | (209) |
|  | 07/2026 | 26939 | 144963 | 482 | 0 |
|  IND | 04/2026 | 76629 | $90482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 | 0 |
|  JPM | 04/2026 | 10188 | 1473 | 0 | (6) |
|  | 04/2026 | 311926 | 3318 | 24 | 0 |
|  | 04/2026 | 9980 | 2716 | 32 | (5) |
|  | 04/2026 | 35821 | 28424 | 563 | 0 |
|  | 04/2026 | $3318 | 312461 | 7 | 0 |
|  | 04/2026 | 12118 | 217537 | 29 | (23) |
|  | 04/2026 | 1076 | 1851 | 0 | (13) |
|  | 04/2026 | 241614 | $14413 | 163 | (10) |
|  | 05/2026 | 958 | 657 | 0 | (4) |
|  | 05/2026 | 5170 | 33 | 0 | 0 |
|  | 05/2026 | $904 | 6239 | 4 | 0 |
|  | 06/2026 | 4756 | $1540 | 24 | 0 |
|  | 06/2026 | 34064 | 1899 | 10 | 0 |
|  | 06/2026 | $13 | 225919 | 0 | 0 |
|  | 06/2026 | 407 | 1264 | 0 | (4) |
|  MBC | 04/2026 | 101 | $128 | 1 | 0 |
|  | 04/2026 | 7 | 9 | 0 | 0 |
|  | 04/2026 | 389382 | 4114 | 8 | 0 |
|  | 04/2026 | 677156 | 4355 | 88 | 0 |
|  | 04/2026 | 5708548 | 3901 | 105 | 0 |
|  | 04/2026 | 3082 | 316 | 0 | (2) |
|  | 04/2026 | 8970 | 955 | 8 | 0 |
|  | 04/2026 | 67491 | 2121 | 72 | 0 |
|  | 04/2026 | $1414 | 2040 | 0 | (6) |
|  | 04/2026 | 1161 | 913 | 0 | (19) |
|  | 04/2026 | 1230 | 921 | 0 | (11) |

---

---

| | | |
|:---|:---|:---|
| **124** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $4210 | 389382 | $0 | $(105) |
|  | 04/2026 | 3336 | 531605 | 14 | 0 |
|  | 04/2026 | 849 | 15670 | 25 | 0 |
|  | 04/2026 | 1075 | 10256 | 0 | (16) |
|  | 04/2026 | 2635 | 9694 | 0 | (24) |
|  | 05/2026 | 260716 | $1636 | 0 | (12) |
|  | 05/2026 | $9 | 7 | 0 | 0 |
|  | 05/2026 | 156 | 1522 | 2 | 0 |
|  | 06/2026 | 3926 | $217 | 0 | 0 |
|  MYI | 04/2026 | 885 | 250 | 12 | 0 |
|  | 06/2026 | 199426 | 12 | 0 | 0 |
|  | 06/2026 | 8396 | 2734 | 59 | 0 |
|  NGF | 04/2026 | $150 | 1437 | 0 | (1) |
|  | 04/2026 | 11280 | 515934 | 135 | 0 |
|  | 05/2026 | 237 | 10937 | 0 | (1) |
|  RBC | 04/2026 | 5371 | $4216 | 38 | 0 |
|  SCX | 04/2026 | 482236 | 3091 | 53 | 0 |
|  | 04/2026 | 37642 | 22505 | 874 | 0 |
|  | 04/2026 | 6029 | 189 | 6 | 0 |
|  | 04/2026 | $39945 | 55304 | 0 | (188) |
|  | 04/2026 | 2045 | 1532 | 0 | (17) |
|  | 04/2026 | 4129 | 376062 | 0 | (158) |
|  | 04/2026 | 1141 | 180800 | 0 | (2) |
|  | 04/2026 | 1009 | 3649 | 0 | (26) |
|  | 04/2026 | 965 | 30808 | 0 | (3) |
|  | 05/2026 | 55227 | $39945 | 187 | 0 |
|  | 06/2026 | $2442 | 41170412 | 0 | (21) |
|  SSB | 04/2026 | 15246 | $10850 | 330 | 0 |
|  | 04/2026 | 3118 | 20 | 0 | 0 |
|  | 04/2026 | 4420 | 2604 | 64 | 0 |
|  | 04/2026 | $3850 | 20243 | 58 | 0 |
|  UAG | 04/2026 | 389827 | $4147 | 38 | 0 |
|  | 04/2026 | 6484 | 1770 | 23 | 0 |
|  | 04/2026 | 16399 | 504 | 6 | 0 |
|  | 04/2026 | $8266 | 780397 | 9 | (8) |
|  | 04/2026 | 5897 | 21299 | 0 | (160) |
|  | 04/2026 | 504 | 16399 | 0 | (7) |
|  | 06/2026 | 8353 | $2706 | 43 | 0 |
|  | 06/2026 | 5008 | 279 | 1 | 0 |
|  | 06/2026 | $3687 | 64351 | 0 | (119) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10959 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5207) |

---

#### PURCHASED OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW 1,400.000 | 07/09/2026 | 12000 | $120 | $36 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 |

---

#### WRITTEN OPTIONS:

#### CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Buy/Sell<br>Protection | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
|  GST | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.850% | 05/20/2026 | 26800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |

---

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW 1,350.000 | 07/09/2026 | 12000 | $(43) | $(9) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 125

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Entity** | **Fixed Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup>** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Reference Entity** | **Fixed Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup>** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Asset | Liability |
| GST | Equinix, Inc. | 5.000% | Quarterly | 06/20/2027 | 0.478% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | $126 | $(76) | $50 | $0 |
|  | Soft Bank Group,Inc. | 1.000 | Quarterly | 06/20/2026 | 1.662 | 500 | (4) | 3 | 0 | (1) |
|  |  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Asset | Liability |
| BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | Quarterly | 12/20/2030 | EUR 6,760 | $1352 | $1 | $1353 | $0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value<br>of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(6)</sup> |
|  AZD | $583 | $0 | $0 | $583 | $0 | $0 | $0 | $0 | $583 | $(330) | $253 |
|  BOA | 709 | 36 | 0 | 745 | (580) | (9) | 0 | (589) | 156 | 0 | 156 |
|  BPS | 321 | 0 | 1353 | 1674 | (289) | 0 | 0 | (289) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1080) | 305 |
|  BRC | 339 | 0 | 0 | 339 | (317) | 0 | 0 | (317) | 22 | (70) | (48) |
|  BSH | 534 | 0 | 0 | 534 | (522) | 0 | 0 | (522) | 12 | 179 | 191 |
|  CBK | 519 | 0 | 0 | 519 | (1114) | 0 | 0 | (1114) | (595) | 697 | 102 |
|  DUB | 467 | 0 | 0 | 467 | (362) | 0 | 0 | (362) | 105 | 0 | 105 |
|  FAR | 694 | 0 | 0 | 694 | (300) | 0 | 0 | (300) | 394 | (300) | 94 |
|  GLM | 1767 | 0 | 0 | 1767 | (752) | 0 | 0 | (752) | 1015 | (499) | 516 |
|  GST | 0 | 0 | 50 | 50 | 0 | (22) | (1) | (23) | 27 | 0 | 27 |
|  IND | 1911 | 0 | 0 | 1911 | 0 | 0 | 0 | 0 | 1911 | (2620) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(709) |
|  JPM | 856 | 0 | 0 | 856 | (65) | 0 | 0 | (65) | 791 | (780) | 11 |
|  MBC | 323 | 0 | 0 | 323 | (195) | 0 | 0 | (195) | 128 | 0 | 128 |
|  MYI | 71 | 0 | 0 | 71 | 0 | 0 | 0 | 0 | 71 | (39) | 32 |
|  NGF | 135 | 0 | 0 | 135 | (2) | 0 | 0 | (2) | 133 | 0 | 133 |
|  RBC | 38 | 0 | 0 | 38 | 0 | 0 | 0 | 0 | 38 | 0 | 38 |
|  SCX | 1120 | 0 | 0 | 1120 | (415) | 0 | 0 | (415) | 705 | (620) | 85 |
|  SSB | 452 | 0 | 0 | 452 | 0 | 0 | 0 | 0 | 452 | (260) | 192 |
|  UAG | 120 | 0 | 0 | 120 | (294) | 0 | 0 | (294) | (174) | 289 | 115 |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10959 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12398 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5207) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5239) |  |  |  |

---

(o) Securities with an aggregate market value of $1,165 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

---

| | | |
|:---|:---|:---|
| **126** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

<sup>(6)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $2076 | $2076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 822 | 0 | 0 | 1254 | 2076 |
|  | $0 | $822 | $0 | $0 | $3330 | $4152 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $10959 | $0 | $10959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 36 | 0 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1403 | 0 | 0 | 0 | 1403 |
|  | $0 | $1403 | $0 | $10995 | $0 | $12398 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10995 | $3330 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16550 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $2225 | $2225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1 | 0 | 0 | 1254 | 1255 |
|  | $0 | $1 | $0 | $0 | $3479 | $3480 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $5207 | $0 | $5207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 22 | 0 | 9 | 0 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1 | 0 | 0 | 0 | 1 |
|  | $0 | $23 | $0 | $5216 | $0 | $5239 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $24 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $5216 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479 | $8719 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $281 | $281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12450) | (12450) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1801 | 0 | 0 | 7089 | 8890 |
|  | $0 | $1801 | $0 | $0 | $(5080) | $(3279) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(13947) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13947) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (63) | 0 | (63) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 97 | 0 | 0 | 786 | 883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 47 | 0 | 0 | 0 | 47 |
|  | $0 | $144 | $0 | $(14010) | $786 | $(13080) |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1945 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14010) | $(4294) | $(16359) |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $(7428) | $(7428) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (781) | 0 | 0 | 3215 | 2434 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(781) | $0 | $0 | $(4213) | $(4994) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 127

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Long Duration Total Return Fund | (Cont.) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $7883 | $0 | $7883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (26) | 0 | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 10 | 0 | 33 | (29) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (30) | 0 | 0 | 0 | (30) |
|  | $0 | $(20) | $0 | $7890 | $(29) | $7841 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(801) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7890 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4242) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2847 |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $11912 | $5769 | $17681 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | 420821 | 908 | 421729 |
| &nbsp;&nbsp; Industrials | 0 | 411992 | 4981 | 416973 |
| &nbsp;&nbsp; Utilities | 0 | 244330 | 0 | 244330 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; California | 0 | 8310 | 0 | 8310 |
| &nbsp;&nbsp; Georgia | 0 | 7956 | 0 | 7956 |
| &nbsp;&nbsp; Illinois | 0 | 5607 | 0 | 5607 |
| &nbsp;&nbsp; Nevada | 0 | 469 | 0 | 469 |
| &nbsp;&nbsp; New Mexico | 0 | 861 | 0 | 861 |
| &nbsp;&nbsp; New York | 0 | 2785 | 0 | 2785 |
| &nbsp;&nbsp; Ohio | 0 | 967 | 0 | 967 |
| &nbsp;&nbsp; Pennsylvania | 0 | 2893 | 0 | 2893 |
| &nbsp;&nbsp; Texas | 0 | 2110 | 0 | 2110 |
|  U.S. Government Agencies | 0 | 574311 | 0 | 574311 |
|  U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664829 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664829 |
|  Non-Agency Mortgage-Backed Securities | 0 | 85508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24976 | 110484 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile ABS Other | 0 | 5029 | 0 | 5029 |
| &nbsp;&nbsp; Automobile Sequential | 0 | 10520 | 0 | 10520 |
| &nbsp;&nbsp; Casino Services | 0 | 0 | 2290 | 2290 |
| &nbsp;&nbsp; CMBS Other | 0 | 12990 | 0 | 12990 |
| &nbsp;&nbsp; Credit Card Other | 0 | 5549 | 0 | 5549 |
| &nbsp;&nbsp; Home Equity Other | 0 | 43249 | 0 | 43249 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 3022 | 0 | 3022 |
| &nbsp;&nbsp; Other ABS | 0 | 135683 | 5196 | 140879 |
|  Sovereign Issues | 0 | 155508 | 0 | 155508 |
|  Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| &nbsp;&nbsp; Banking & Finance | 0 | 6514 | 0 | 6514 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Mutual Funds | $7078 | $0 | $0 | $7078 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 6300 | 0 | 6300 |
|  | $7078 | $3830025 | $44120 | $3881223 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $667 | $0 | $0 | $667 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7745 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830025 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44120 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3881890 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(10135) | $0 | $(10135) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 902 | 3250 | 0 | 4152 |
|  Over the counter | 0 | 12398 | 0 | 12398 |
|  | $902 | $15648 | $0 | $16550 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (410) | (3070) | 0 | (3480) |
|  Over the counter | 0 | (5239) | 0 | (5239) |
|  | $(410) | $(8309) | $0 | $(8719) |
|  Total Financial Derivative Instruments | $492 | $7339 | $0 | $7831 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8237 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3827229 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44120 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3879586 |

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/<br>Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8547 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3061) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) | $280 | $0 | $0 | $5769 | $308 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 905 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 908 | 8 |
| &nbsp;&nbsp; Industrials | 0 | 5000 | 0 | 0 | 0 | (19) | 0 | 0 | 4981 | (19) |
|  Non-Agency Mortgage-Backed Securities | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23669 | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 |

---

---

| | | |
|:---|:---|:---|
| **128** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Beginning<br>Balance<br>at 03/31/2025** | **Net<br>Purchases** | **Net<br>Sales/<br>Settlements** | **Accrued<br>Discounts/<br>(Premiums)** | **Realized<br>Gain/(Loss)** | **Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup>** | **Transfers into<br>Level 3** | **Transfers out<br>of Level 3** | **Ending<br>Balance<br>at 03/31/2026** | **Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup>** |
|  Asset-Backed Securities |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Casino Services | $2277 | $0 | $(123) | $0 | $(9) | $145 | $0 | $0 | $2290 | $122 |
| &nbsp;&nbsp; Other ABS | 8975 | 5188 | (1199) | 0 | 83 | 554 | 0 | (8405) | 5196 | 8 |
| &nbsp;&nbsp; Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20704 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33857 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4383 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8405) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44120 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | **Valuation<br>Technique** | **Unobservable<br>Inputs** | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | **Valuation<br>Technique** | **Unobservable<br>Inputs** | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $5769 | Discounted Cash Flow | Discount Rate | 4.220 |  |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance | 908 | Discounted Cash Flow | Discount Rate | 5.200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials | 4981 | Discounted Cash Flow | Discount Rate | 4.871-5.288 | 5.067 |
|  Non-Agency Mortgage-Backed Securities | 24976 | Recent Transaction | Purchase Price | 100.000 |  |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp;&nbsp;&nbsp; Casino Services | 2290 | Discounted Cash Flow | Discount Rate | 6.260 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other ABS | 3000 | Discounted Cash Flow | Discount Rate | 5.328 |  |
|  | 2196 | Recent Transaction | Purchase Price | 100.000 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44120 |  |  |  |  |

---

<sup>(1)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **129** |

---

------

Schedule of Investments PIMCO Long-Term U.S. Government Fund

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 203.8% | INVESTMENTS IN SECURITIES 203.8% | INVESTMENTS IN SECURITIES 203.8% |
| CORPORATE BONDS & NOTES 1.5% | CORPORATE BONDS & NOTES 1.5% | CORPORATE BONDS & NOTES 1.5% |
| INDUSTRIALS 1.5% | INDUSTRIALS 1.5% | INDUSTRIALS 1.5% |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 7970 | 8200 |
|  Vessel Management Services, Inc. | Vessel Management Services, Inc. | Vessel Management Services, Inc. |
|  3.432% due 08/15/2036 | 2886 | 2627 |
|  Total Corporate Bonds & Notes (Cost $10,856) | Total Corporate Bonds & Notes (Cost $10,856) | 10827 |
| U.S. GOVERNMENT AGENCIES 27.3% | U.S. GOVERNMENT AGENCIES 27.3% | U.S. GOVERNMENT AGENCIES 27.3% |
|  Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. |
|  5.125% due 07/09/2029 | 675 | 699 |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  5.762% due 01/01/2028 •  | 1 | 1 |
|  5.771% due 01/01/2028 •  | 2 | 2 |
|  6.500% due 01/01/2035 | 1 | 1 |
|  Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates | Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates |
|  4.303% due 10/25/2052 ~ | 6260 | 5374 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ | 2050 | 1992 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  1.912% due 12/15/2042 •  | 1671 | 1441 |
|  3.500% due 05/15/2042 -<br>01/15/2048 | 16460 | 15042 |
|  3.977% due 10/15/2043 •  | 1033 | 1013 |
|  4.000% due 07/15/2042 | 5015 | 4837 |
|  4.187% due 01/15/2033 •  | 8 | 8 |
|  4.287% due 04/15/2029 -<br>12/15/2032 •  | 7 | 7 |
|  4.337% due 06/15/2031 •  | 3 | 3 |
|  4.500% due 02/15/2035 -<br>07/15/2035 | 328 | 327 |
|  5.500% due 06/15/2035 | 7432 | 7636 |
|  6.000% due 05/15/2028 | 3 | 3 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  5.059% due 10/25/2044 •  | 579 | 535 |
|  5.259% due 07/25/2044 •  | 144 | 140 |
|  6.500% due 10/25/2043 | 24 | 25 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  2.500% due 11/01/2046 | 99 | 85 |
|  5.113% due 06/01/2043 •  | 31 | 31 |
|  5.114% due 03/01/2044 •  | 38 | 38 |
|  6.223% due 12/01/2027 •  | 4 | 4 |
|  6.305% due 07/01/2035 •  | 6 | 6 |
|  6.348% due 11/01/2034 •  | 14 | 15 |
|  6.395% due 04/01/2028 •  | 1 | 1 |
|  6.500% due 01/01/2032 -<br>08/01/2037 | 18 | 19 |
|  7.000% due 02/01/2038 | 5 | 5 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.500% due 06/25/2044 | 3597 | 3307 |
|  3.842% due 07/25/2037 •  | 28 | 28 |
|  4.000% due 09/25/2044 -<br>10/25/2044 | 5517 | 5294 |
|  4.226% due 10/25/2030 •  | 0 | 1 |
|  4.250% due 04/25/2037 | 84 | 83 |
|  4.676% due 04/25/2032 •  | 0 | 1 |
|  6.500% due 07/25/2031 | 71 | 73 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  6.750% due 06/25/2032 | 221 | 230 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  5.125% due 10/20/2026 - 11/20/2027 •  | 3 | 3 |
|  5.375% (H15T1Y + 1.500%) due 08/20/2026 - 09/20/2026 ~ | 1 | 1 |
|  5.625% due 01/20/2027 -<br>05/20/2030 •  | 21 | 21 |
|  6.500% due 08/20/2034 -<br>09/20/2034 | 3 | 3 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.000% due 08/20/2044 -<br>09/20/2044 | 5824 | 5486 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.000% due 08/20/2033 | 383 | 382 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 04/01/2056 | 8000 | 7495 |
|  4.500% due 06/01/2040 -<br>05/01/2056 | 2500 | 2412 |
|  Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS | Resolution Funding Corp. Interest STRIPS |
|  0.000% due 10/15/2028 (a) | 6371 | 5782 |
|  Tennessee Valley Authority Principal STRIPS | Tennessee Valley Authority Principal STRIPS | Tennessee Valley Authority Principal STRIPS |
|  0.000% due 05/01/2030 (c) | 7400 | 6257 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  3.500% due 04/01/2056 | 700 | 642 |
|  4.000% due 04/01/2056 -<br>05/01/2056 | 26200 | 24721 |
|  5.000% due 04/01/2056 -<br>05/01/2056 | 34200 | 33699 |
|  5.500% due 06/01/2056 | 700 | 702 |
|  6.000% due 05/01/2056 -<br>07/01/2056 | 60800 | 61884 |
|  Total U.S. Government Agencies<br>(Cost $201,096) | Total U.S. Government Agencies<br>(Cost $201,096) | 197797 |
| U.S. TREASURY OBLIGATIONS 169.2% | U.S. TREASURY OBLIGATIONS 169.2% | U.S. TREASURY OBLIGATIONS 169.2% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.125% due 05/15/2040 | 10470 | 6599 |
|  1.125% due 08/15/2040 (f) | 99760 | 62225 |
|  1.375% due 11/15/2040 (h) | 9060 | 5839 |
|  1.750% due 08/15/2041 (f) | 60400 | 40401 |
|  1.875% due 02/15/2051 | 19100 | 10609 |
|  2.000% due 11/15/2041 (f) | 45200 | 31274 |
|  2.000% due 02/15/2050 | 310 | 181 |
|  2.250% due 08/15/2049 (f) | 55590 | 34590 |
|  2.250% due 02/15/2052 | 4500 | 2713 |
|  2.375% due 02/15/2042 | 28000 | 20415 |
|  2.375% due 05/15/2051 | 2400 | 1502 |
|  2.500% due 05/15/2046 (f) | 2028 | 1394 |
|  2.750% due 08/15/2047 | 150 | 106 |
|  2.750% due 11/15/2047 | 22600 | 15948 |
|  2.875% due 05/15/2052 | 20400 | 14152 |
|  3.000% due 11/15/2045 (f) | 680 | 514 |
|  3.000% due 02/15/2047 | 11100 | 8274 |
|  3.000% due 05/15/2047 | 17300 | 12863 |
|  3.000% due 02/15/2048 | 150 | 111 |
|  3.000% due 08/15/2048 (f) | 47000 | 34506 |
|  3.000% due 02/15/2049 (f) | 64144 | 46868 |
|  3.000% due 08/15/2052 (f) | 60000 | 42667 |
|  3.125% due 02/15/2043 (f) | 59600 | 47741 |
|  3.250% due 05/15/2042 | 22800 | 18793 |
|  3.375% due 11/15/2048 (f) | 111700 | 87567 |
|  3.625% due 08/15/2043 | 15300 | 13071 |
|  3.625% due 02/15/2053 (f) | 51800 | 41586 |
|  3.625% due 05/15/2053 | 19400 | 15560 |
|  3.875% due 02/15/2043 (f) | 33100 | 29421 |
|  3.875% due 05/15/2043 (f) | 60400 | 53551 |
|  4.000% due 11/15/2042 (f) | 65000 | 58836 |
|  4.000% due 11/15/2052 (f) | 51650 | 44389 |
|  4.125% due 08/15/2053 | 13000 | 11404 |
|  4.375% due 05/15/2041 | 29580 | 28500 |
|  4.375% due 08/15/2043 (f) | 39300 | 37107 |
|  4.500% due 02/15/2044 (f) | 13100 | 12532 |
|  4.500% due 11/15/2054 | 5800 | 5420 |
|  4.625% due 05/15/2044 | 2800 | 2716 |
|  4.625% due 11/15/2044 (f) | 10500 | 10162 |
|  4.625% due 11/15/2045 (f) | 2400 | 2315 |
|  4.625% due 02/15/2046 (f) | 8100 | 7810 |
|  4.625% due 05/15/2054 | 4600 | 4387 |
|  4.750% due 02/15/2041 | 10750 | 10813 |
|  4.750% due 02/15/2045 (f) | 18500 | 18183 |
|  4.750% due 08/15/2055 (f) | 3200 | 3119 |
|  4.875% due 08/15/2045 (f) | 3040 | 3031 |
|  5.000% due 05/15/2045 (f) | 3900 | 3952 |
|  U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) |
|  0.625% due 07/15/2032 (f) | 1567 | 1479 |
|  1.125% due 01/15/2033 | 23211 | 22363 |
|  1.750% due 01/15/2034 | 20419 | 20341 |
|  1.875% due 07/15/2034 (f) | 1036 | 1042 |
|  2.125% due 01/15/2035 | 1855 | 1887 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  1.500% due 11/30/2028 | 20700 | 19495 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.375% due 03/31/2029 | 24500 | 23500 |
|  2.625% due 05/31/2027 (h) | 2200 | 2171 |
|  3.250% due 06/30/2029 | 20800 | 20426 |
|  3.625% due 03/31/2030 (h) | 3900 | 3860 |
|  3.750% due 05/31/2030 (h) | 3900 | 3877 |
|  3.750% due 06/30/2030 (h) | 6600 | 6559 |
|  3.875% due 09/30/2029 (f) | 53200 | 53213 |
|  4.000% due 06/30/2032 | 26200 | 26085 |
|  4.000% due 02/15/2034 (f) | 38100 | 37588 |
|  4.125% due 11/15/2027 | 200 | 201 |
|  4.125% due 10/31/2029 | 500 | 504 |
|  4.125% due 08/31/2030 (h) | 6200 | 6249 |
|  4.250% due 08/15/2035 (f) | 5100 | 5082 |
|  4.375% due 11/30/2030 | 400 | 407 |
|  4.625% due 09/30/2030 (h) | 2700 | 2777 |
|  4.875% due 10/31/2030 | 2700 | 2805 |
|  Total U.S. Treasury Obligations<br>(Cost $1,386,973) | Total U.S. Treasury Obligations<br>(Cost $1,386,973) | 1227628 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 3.4% | NON-AGENCY MORTGAGE-BACKED SECURITIES 3.4% | NON-AGENCY MORTGAGE-BACKED SECURITIES 3.4% |
|  Ashford Hospitality Trust | Ashford Hospitality Trust | Ashford Hospitality Trust |
|  4.745% due 04/15/2035 •  | 68 | 68 |
|  Atrium Hotel Portfolio Trust | Atrium Hotel Portfolio Trust | Atrium Hotel Portfolio Trust |
|  4.900% due 12/15/2036 •  | 578 | 571 |
|  Bank | Bank | Bank |
|  4.046% due 03/15/2061 ~ | 800 | 793 |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  5.015% due 09/15/2058 | 1800 | 1823 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.718% due 09/25/2035 ~ | 152 | 79 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  6.125% due 04/25/2033 ~ | 2 | 2 |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  4.016% due 03/15/2052 | 3700 | 3621 |
|  5.926% due 03/15/2057 | 2000 | 2065 |
|  BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
|  7.055% due 11/15/2056 ~ | 1800 | 1899 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.373% due 04/25/2035 •  | 4 | 4 |
|  4.433% due 03/25/2035 •  | 220 | 205 |
|  COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
|  3.140% due 10/10/2036 | 2800 | 2715 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  4.213% due 05/25/2035 •  | 116 | 113 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  4.231% due 05/19/2035 •  | 113 | 110 |
|  Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
|  3.719% due 11/05/2038 | 2130 | 2119 |
|  Impac CMB Trust | Impac CMB Trust | Impac CMB Trust |
|  4.293% due 10/25/2035 •  | 577 | 540 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  5.818% due 07/25/2035 ~ | 19 | 19 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.750% due 07/25/2059 ~ | 76 | 74 |
|  2.750% due 11/25/2059 ~ | 526 | 506 |
|  Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust | Nomura Asset Acceptance Corp. Alternative Loan Trust |
|  4.155% due 10/25/2035 ~ | 402 | 363 |
|  PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
|  5.021% due 02/25/2057 •  | 1500 | 1504 |
|  RALI Trust | RALI Trust | RALI Trust |
|  4.093% due 08/25/2035 •  | 126 | 86 |
|  6.000% due 06/25/2036 | 247 | 197 |
|  Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
|  4.490% due 07/20/2033 •  | 40 | 40 |
|  4.491% due 10/19/2026 •  | 2 | 1 |
|  5.172% due 04/25/2056 •  | 2200 | 2205 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.233% due 05/25/2037 •  | 328 | 309 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.233% due 05/25/2036 •  | 51 | 43 |
|  Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust |
|  4.451% due 09/19/2032 •  | 1 | 1 |
|  4.631% due 10/19/2033 •  | 29 | 27 |

---

---

| | | |
|:---|:---|:---|
| **130** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  3.100% due 01/25/2060 ~ | 900 | 829 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.313% due 11/25/2045 •  | 9 | 8 |
|  4.859% due 02/25/2046 •  | 275 | 256 |
|  4.907% due 08/25/2046 •  | 153 | 135 |
|  5.259% due 06/25/2042 •  | 3 | 3 |
|  Worldwide Plaza Trust | Worldwide Plaza Trust | Worldwide Plaza Trust |
|  3.526% due 11/10/2036 | 1600 | 1279 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $25,670) | Total Non-Agency Mortgage-Backed Securities (Cost $25,670) | 24612 |
| ASSET-BACKED SECURITIES 2.0% | ASSET-BACKED SECURITIES 2.0% | ASSET-BACKED SECURITIES 2.0% |
| AUTOMOBILE SEQUENTIAL 0.4% | AUTOMOBILE SEQUENTIAL 0.4% | AUTOMOBILE SEQUENTIAL 0.4% |
|  Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
|  6.020% due 02/20/2030 | 1700 | 1765 |
|  Hertz Vehicle Financing LLC | Hertz Vehicle Financing LLC | Hertz Vehicle Financing LLC |
|  2.330% due 06/26/2028 | 1200 | 1174 |
|  |  | 2939 |
| HOME EQUITY OTHER 0.3% | HOME EQUITY OTHER 0.3% | HOME EQUITY OTHER 0.3% |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  4.793% due 11/25/2042 •  | 66 | 66 |
|  C-BASS Trust | C-BASS Trust | C-BASS Trust |
|  3.913% due 11/25/2036 •  | 9 | 4 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  4.618% due 10/25/2034 •  | 546 | 538 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.723% due 07/25/2035 •  | 357 | 360 |
|  Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust |
|  3.913% due 11/25/2036 •  | 125 | 33 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  5.348% due 07/25/2065 þ | 1152 | 1153 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Washington Mutual Asset-Backed Certificates Trust | Washington Mutual Asset-Backed Certificates Trust | Washington Mutual Asset-Backed Certificates Trust |
|  3.913% due 10/25/2036 •  | 68 | 24 |
|  |  | 2178 |
| OTHER ABS 1.3% | OTHER ABS 1.3% | OTHER ABS 1.3% |
|  ECMC Group Student Loan Trust | ECMC Group Student Loan Trust | ECMC Group Student Loan Trust |
|  4.526% due 02/27/2068 •  | 387 | 385 |
|  Invitation Homes Trust | Invitation Homes Trust | Invitation Homes Trust |
|  4.000% due 09/17/2041 | 3192 | 3112 |
|  Massachusetts Educational Financing Authority | Massachusetts Educational Financing Authority | Massachusetts Educational Financing Authority |
|  5.099% due 04/25/2038 •  | 27 | 27 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.610% due 02/21/2061 | 2398 | 2369 |
|  Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
|  6.258% due 10/15/2031 | 274 | 274 |
|  Slam Ltd. | Slam Ltd. | Slam Ltd. |
|  5.807% due 05/15/2050 | 950 | 963 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.030% due 03/15/2056 (b) | 2200 | 2203 |
|  |  | 9333 |
|  Total Asset-Backed Securities<br>(Cost $14,526) | Total Asset-Backed Securities<br>(Cost $14,526) | 14450 |
|  | **SHARES** |  |
| SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% | SHORT-TERM INSTRUMENTS 0.4% |
| MUTUAL FUNDS 0.4% | MUTUAL FUNDS 0.4% | MUTUAL FUNDS 0.4% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (e) | 2812265 | 2812 |
| Total Short-Term Instruments<br>(Cost $2,812) | Total Short-Term Instruments<br>(Cost $2,812) | 2812 |
| Total Investments in Securities<br>(Cost $1,641,933) | Total Investments in Securities<br>(Cost $1,641,933) | 1478126 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SHARES | MARKET<br>VALUE<br>(000S) | MARKET<br>VALUE<br>(000S) |
| INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% | INVESTMENTS IN AFFILIATES 0.0% |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 8732 | $— | 85 |
| Total Short-Term Instruments<br>(Cost $85) | Total Short-Term Instruments<br>(Cost $85) |  | 85 |
| Total Investments in Affiliates<br>(Cost $85) | Total Investments in Affiliates<br>(Cost $85) |  | 85 |
| Total Investments 203.8%<br>(Cost $1,642,018) | Total Investments 203.8%<br>(Cost $1,642,018) | $— | 1478211 |
|  Financial Derivative Instruments (g)(i) (0.1)%<br> (Cost or Premiums, net $62) |  |  | (577) |
| Other Assets and Liabilities, net (103.7)% | Other Assets and Liabilities, net (103.7)% |  | (752206) |
| Net Assets 100.0% |  | $— | 725428 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Zero coupon security.

(d) Principal amount of security is adjusted for inflation.

(e) Coupon represents a 7-Day Yield.

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOM | 3.780% | 03/11/2026 | 04/06/2026 | $(5604) | $(5616) |
|  BOO | 3.720 | 04/01/2026 | 04/02/2026 | (43750) | (43750) |
|  | 3.750 | 03/31/2026 | 04/01/2026 | (43875) | (43875) |
|  | 3.770 | 02/25/2026 | 04/01/2026 | (8042) | (8071) |
|  BOS | 3.750 | 03/30/2026 | 04/06/2026 | (13419) | (13422) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86117) |
|  CIB | 3.780 | 03/11/2026 | 04/09/2026 | (25822) | (25879) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **131** |

---

------

Schedule of Investments PIMCO Long-Term U.S. Government Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Borrowing<br>Rate<sup>(1)</sup>** | **Settlement<br>Date** | **Maturity<br>Date** | **Amount<br>Borrowed<sup>(1)</sup>** | **Payable for<br>Reverse<br>Repurchase<br>Agreements** |
|  DEU | 3.750% | 03/19/2026 | 04/09/2026 | $(3766) | $(3771) |
|  | 3.750 | 03/31/2026 | 04/07/2026 | (5851) | (5851) |
|  | 3.760 | 03/25/2026 | 04/01/2026 | (1091) | (1092) |
|  | 3.770 | 03/04/2026 | 04/08/2026 | (3936) | (3947) |
|  | 3.770 | 03/24/2026 | 04/07/2026 | (5321) | (5326) |
|  | 3.780 | 03/26/2026 | 04/02/2026 | (74) | (74) |
|  IND | 3.760 | 03/31/2026 | 04/07/2026 | (7091) | (7092) |
|  JPS | 1.250 | 03/26/2026 | 04/01/2026 | (7857) | (7859) |
|  | 3.660 | 04/01/2026 | 04/07/2026 | (7847) | (7847) |
|  | 3.760 | 03/09/2026 | 04/20/2026 | (5176) | (5189) |
|  NOM | 3.750 | 04/02/2026 | 04/16/2026 | (2420) | (2420) |
|  NXN | 3.750 | 04/01/2026 | 04/20/2026 | (60388) | (60388) |
|  | 3.770 | 03/18/2026 | 04/01/2026 | (66521) | (66618) |
|  RCY | 3.770 | 02/06/2026 | 04/20/2026 | (45312) | (45569) |
|  STR | 3.730 | 04/01/2026 | 04/02/2026 | (291064) | (291064) |
|  | 3.760 | 03/31/2026 | 04/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(273533) | (273533) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1014370) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Borrowing<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> |
|  BCY | 3.770% | 03/27/2026 | 04/06/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15697) | $(15706) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15706) |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies 0.0% | U.S. Government Agencies 0.0% | U.S. Government Agencies 0.0% | U.S. Government Agencies 0.0% | U.S. Government Agencies 0.0% | U.S. Government Agencies 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.500% | 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | $(84) | $(84) |
|  Total Short Sales 0.0% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(3)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOM | $0 | $(5616) | $0 | $(5616) | $5397 | $(219) |
|  BOO | 0 | (95696) | 0 | (95696) | 51097 | (44599) |
|  BOS | 0 | (13422) | 0 | (13422) | 13408 | (14) |
|  BSN | 0 | (86117) | 0 | (86117) | 85146 | (971) |
|  CIB | 0 | (25879) | 0 | (25879) | 26009 | 130 |
|  DEU | 0 | (20061) | 0 | (20061) | 19854 | (207) |
|  IND | 0 | (7092) | 0 | (7092) | 7040 | (52) |
|  JPS | 0 | (20895) | 0 | (20895) | 12891 | (8004) |
|  NOM | 0 | (2420) | 0 | (2420) | 0 | (2420) |
|  NXN | 0 | (127006) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127006) | 66219 | (60787) |
|  RCY | 0 | (45569) | 0 | (45569) | 44876 | (693) |
|  STR | 0 | (564597) | 0 | (564597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(287723) |
|  Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement | Master Securities Forward Transaction Agreement |
|  BCY | 0 | 0 | (15706) | (15706) | 15742 | 36 |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1014370) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15706) |  |  |  |

---

132 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  U.S. Treasury Obligations | $(401048) | $(207853) | $0 | $0 | $(608901) |
|  Total | $(401048) | $(207853) | $0 | $0 | $(608901) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (15706) | 0 | 0 | (15706) |
|  Total | $0 | $(15706) | $0 | $0 | $(15706) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(401048) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223559) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(624607) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | $(624607) |

---

(f) Securities with an aggregate market value of $624,188 and cash of $365 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(599180) at a weighted average interest rate of 4.168%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(2)</sup> Payable for sale-buyback transactions includes $(8) of deferred price drop. 

<sup>(3)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(4)</sup> Unsettled reverse repurchase agreements liability of $(405469) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(g) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract June Futures  | 09/2027 | 214 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51598 | $(248) | $15 | $0 |
|  3-Month SOFR Active Contract March Futures  | 06/2027 | 214 | 51566 | (285) | 19 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 214 | 51646 | (175) | 12 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 259 | 53728 | (1) | 29 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 300 | 33314 | (332) | 54 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1041) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 1540 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166597) | $1416 | $0 | $(211) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 1487 | (168798) | 3890 | 0 | (314) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 900 | (102488) | 3388 | 0 | (70) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 519 | (60496) | 2182 | 40 | 0 |
|  |  |  |  | $10876 | $40 | $(595) |
|  Total Futures Contracts |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9835 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595) |

---

#### SWAP AGREEMENTS:

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive<br>Floating Rate |  | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| Pay/Receive<br>Floating Rate | Floating Rate Index | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.638% | Annual | 05/31/2028 | $2900 | $(15) | $25 | $10 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 05/31/2028 | 5900 | (32) | 49 | 17 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.662 | Annual | 05/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163) | 240 | 77 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 05/31/2028 | 54100 | (326) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | 0 | (24) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 05/31/2028 | 28800 | (182) | 235 | 53 | 0 | (13) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 05/31/2028 | 28800 | (183) | 233 | 50 | 0 | (13) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 05/31/2028 | 2300 | (20) | 16 | (4) | 0 | (1) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **133** |

---

------

Schedule of Investments PIMCO Long-Term U.S. Government Fund (Cont.)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** |  | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 2.395% | Semi-Annual | 10/25/2028 | $15300 | $(514) | $10 | $(504) | $8 | $0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 13600 | (131) | 49 | (82) | 0 | (13) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 1900 | (25) | 7 | (18) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 02/28/2031 | 22340 | (247) | 62 | (185) | 0 | (24) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 03/30/2031 | 9590 | 52 | 1381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 | 0 | (8) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.431 | Annual | 04/30/2031 | 1600 | 11 | 14 | 25 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.441 | Semi-Annual | 07/21/2031 | 6800 | (16) | 856 | 840 | 0 | (6) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 8295 | (48) | 24 | (24) | 0 | (10) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.610 | Annual | 12/12/2032 | 2500 | 12 | 3 | 15 | 0 | (3) |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | 93 | 78 | 171 | 0 | (13) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 12/26/2033 | 400 | (2) | 0 | (2) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.854 | Annual | 12/29/2033 | 1200 | (8) | 0 | (8) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 01/17/2034 | 500 | 5 | 0 | 5 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/07/2034 | 790 | 4 | 2 | 6 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 1100 | 21 | 2 | 23 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.599 | Annual | 08/28/2034 | 1200 | 17 | 2 | 19 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.605 | Annual | 08/28/2034 | 300 | 4 | 1 | 5 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.643 | Annual | 08/28/2034 | 400 | 5 | 0 | 5 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 09/10/2034 | 1400 | 58 | 4 | 62 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.240 | Annual | 09/16/2034 | 500 | 21 | 1 | 22 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.278 | Annual | 09/16/2034 | 1100 | 42 | 3 | 45 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.280 | Annual | 09/16/2034 | 1200 | 46 | 3 | 49 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 02/26/2035 | 100 | (1) | 0 | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 1200 | (6) | (1) | (7) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 500 | (3) | (1) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 800 | (3) | (1) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 1100 | (7) | (1) | (8) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 700 | 17 | 1 | 18 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 2400 | (5) | 22 | 17 | 0 | (2) |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | 97 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.368 | Annual | 11/15/2049 | 1800 | 242 | (17) | 225 | 4 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.464 | Annual | 11/15/2049 | 4100 | 491 | (39) | 452 | 9 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.527 | Annual | 11/15/2049 | 900 | 99 | (9) | 90 | 2 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 10/23/2053 | 5700 | (95) | 2413 | 2318 | 17 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 11/15/2053 | 4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671 | (51) | 620 | 14 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 11/15/2053 | 2600 | 115 | (34) | 81 | 9 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.992 | Annual | 11/15/2053 | 6200 | (248) | 85 | (163) | 0 | (22) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.085 | Annual | 11/15/2053 | 7355 | 194 | (98) | 96 | 25 | 0 |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 4400 | 84 | 19 | 103 | 17 | 0 |
|  Total Swap Agreements |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6020 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6154 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(193) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(193) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(788) |

---

(h) Securities with an aggregate market value of $15,885 and cash of $3,925 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### WRITTEN OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600% | 04/16/2026 | 6000 | $(19) | $(5) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 6000 | (19) | (31) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 4700 | (17) | (14) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 4700 | (17) | (13) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) |

---

134 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(2)</sup> |
|  GLM | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) |

---

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $169 | $169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 105 | 105 |
|  | $0 | $0 | $0 | $0 | $274 | $274 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $595 | $595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 193 | 193 |
|  | $0 | $0 | $0 | $0 | $788 | $788 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $63 | $63 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $670 | $670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (8573) | (8573) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 822 | 822 |
|  | $0 | $0 | $0 | $0 | $(7081) | $(7081) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $1058 | $1058 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6023) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6023) |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $13625 | $13625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 2115 | 2115 |
|  | $0 | $0 | $0 | $0 | $15740 | $15740 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $4 | $4 |
|  | $0 | $0 | $0 | $0 | $15744 | $15744 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 135

------

Schedule of Investments PIMCO Long-Term U.S. Government Fund (Cont.) March 31, 2026

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Industrials | $0 | $10827 | $0 | $10827 |
|  U.S. Government Agencies | 0 | 197797 | 0 | 197797 |
|  U.S. Treasury Obligations | 0 | 1227628 | 0 | 1227628 |
|  Non-Agency Mortgage-Backed Securities | 0 | 24612 | 0 | 24612 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 2939 | 0 | 2939 |
| &nbsp;&nbsp; Home Equity Other | 0 | 2178 | 0 | 2178 |
| &nbsp;&nbsp; Other ABS | 0 | 9333 | 0 | 9333 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Mutual Funds | 2812 | 0 | 0 | 2812 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2812 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475314 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478126 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $85 | $0 | $0 | $85 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2897 | $1475314 | $0 | $1478211 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(84) | $0 | $(84) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | $0 | $274 | $0 | $274 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | 0 | (788) | 0 | (788) |
|  Over the counter | 0 | (63) | 0 | (63) |
|  | $0 | $(851) | $0 | $(851) |
|  Total Financial Derivative Instruments | $0 | $(577) | $0 | $(577) |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2897 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474653 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477550 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | |
|:---|:---|:---|
| **136** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund March 31, 2026

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 125.0% | INVESTMENTS IN SECURITIES 125.0% | INVESTMENTS IN SECURITIES 125.0% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% |
|  Ineos U.S. Finance LLC | Ineos U.S. Finance LLC | Ineos U.S. Finance LLC |
|  6.918% (TSFR1M + 3.250%) due 02/18/2030 ~ | 199 | 175 |
|  IRB Holding Corp. | IRB Holding Corp. | IRB Holding Corp. |
|  6.176% (TSFR1M + 2.500%) due 12/16/2030 ~ | 190 | 189 |
|  LifePoint Health, Inc. | LifePoint Health, Inc. | LifePoint Health, Inc. |
|  7.152% (TSFR3M + 3.500%) due 05/19/2031 ~ | 99 | 99 |
|  Total Loan Participations and Assignments (Cost $450) | Total Loan Participations and Assignments (Cost $450) | 463 |
| CORPORATE BONDS & NOTES 21.2% | CORPORATE BONDS & NOTES 21.2% | CORPORATE BONDS & NOTES 21.2% |
| BANKING & FINANCE 11.4% | BANKING & FINANCE 11.4% | BANKING & FINANCE 11.4% |
|  AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
|  2.450% due 10/29/2026 | 200 | 198 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  5.737% due 05/15/2029 •  | 100 | 102 |
|  American Assets Trust LP | American Assets Trust LP | American Assets Trust LP |
|  3.375% due 02/01/2031 | 200 | 180 |
|  American Express Co. | American Express Co. | American Express Co. |
|  3.433% due 05/20/2032 •  | 100 | 114 |
|  American Honda Finance Corp. | American Honda Finance Corp. | American Honda Finance Corp. |
|  4.390% due 08/13/2027 •  | 200 | 200 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  2.300% due 09/15/2031 | 200 | 176 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  3.024% (EUR003M + 1.000%) due 02/23/2027 ~ | 100 | 116 |
|  Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
|  2.528% due 11/18/2027 | 3 | 3 |
|  4.950% due 01/15/2028 | 100 | 100 |
|  5.375% due 05/30/2030 | 100 | 101 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.456% due 02/06/2032 •  | 200 | 198 |
|  4.623% due 05/09/2029 •  | 200 | 201 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  4.972% due 05/16/2029 •  | 700 | 704 |
|  BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. |
|  6.150% due 04/02/2030 | 100 | 102 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  1.904% due 09/30/2028 •  | 300 | 288 |
|  7.000% due 08/16/2028 •(e)(f) | 300 | 304 |
|  BPCE SA | BPCE SA | BPCE SA |
|  6.612% due 10/19/2027 •  | 550 | 556 |
|  Brixmor Operating Partnership LP | Brixmor Operating Partnership LP | Brixmor Operating Partnership LP |
|  2.250% due 04/01/2028 | 200 | 192 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  4.722% due 01/30/2032 •  | 200 | 197 |
|  CI Financial Corp. | CI Financial Corp. | CI Financial Corp. |
|  4.625% due 12/12/2031 | 100 | 116 |
|  CIMA Finance DAC | CIMA Finance DAC | CIMA Finance DAC |
|  2.950% due 09/05/2029 | 127 | 118 |
|  Corebridge Financial, Inc. | Corebridge Financial, Inc. | Corebridge Financial, Inc. |
|  3.900% due 04/05/2032 | 200 | 188 |
|  Credit Suisse AG AT1 Claim | 500 | 175 |
|  Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
|  3.100% due 11/15/2029 | 200 | 189 |
|  Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG |
|  3.729% due 01/14/2032 •  | 200 | 186 |
|  Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
|  3.900% due 04/15/2032 | 200 | 189 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  5.420% due 04/09/2031 | 300 | 295 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  3.615% due 03/15/2028 •  | 300 | 298 |
|  4.369% due 10/21/2031 •  | 200 | 196 |
|  4.516% due 01/21/2032 •  | 300 | 295 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. |
|  4.700% due 06/15/2031 | 100 | 115 |
|  HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
|  5.210% due 08/11/2028 •  | 100 | 101 |
|  ING Groep NV | ING Groep NV | ING Groep NV |
|  4.017% due 03/28/2028 •  | 200 | 199 |
|  Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |
|  7.750% due 01/11/2027 •(e)(f) | 200 | 236 |
|  Jane Street Group/JSG Finance, Inc. | Jane Street Group/JSG Finance, Inc. | Jane Street Group/JSG Finance, Inc. |
|  6.750% due 05/01/2033 | 100 | 101 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  2.947% due 02/24/2028 •  | 200 | 197 |
|  2.963% due 01/25/2033 •  | 200 | 181 |
|  6.070% due 10/22/2027 •  | 200 | 202 |
|  Lazard Group LLC | Lazard Group LLC | Lazard Group LLC |
|  4.500% due 09/19/2028 | 800 | 797 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  3.750% due 03/18/2028 •  | 200 | 199 |
|  5.462% due 01/05/2028 •  | 300 | 302 |
|  LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
|  5.200% due 03/15/2030 | 100 | 101 |
|  Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. |
|  3.261% due 05/22/2030 •  | 200 | 193 |
|  5.098% due 05/13/2031 •  | 200 | 203 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  4.238% due 01/09/2030 •  | 300 | 297 |
|  National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. |
|  3.000% due 02/01/2031 | 200 | 180 |
|  NatWest Group PLC | NatWest Group PLC | NatWest Group PLC |
|  4.800% due 04/05/2026 | 500 | 500 |
|  Prologis Euro Finance LLC | Prologis Euro Finance LLC | Prologis Euro Finance LLC |
|  3.250% due 09/22/2032 | 100 | 111 |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  3.823% due 11/03/2028 •  | 650 | 642 |
|  Starwood Property Trust, Inc. | Starwood Property Trust, Inc. | Starwood Property Trust, Inc. |
|  6.500% due 10/15/2030 | 50 | 51 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  2.222% due 09/17/2031 | 200 | 175 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.850% due 03/24/2031 | 100 | 99 |
|  UBS Group AG | UBS Group AG | UBS Group AG |
|  4.550% due 04/17/2026 | 500 | 500 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP |
|  4.750% due 04/01/2028 | 100 | 100 |
|  5.125% due 11/15/2031 | 100 | 99 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  3.526% due 03/24/2028 •  | 400 | 397 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  3.250% due 10/02/2031 | 100 | 112 |
|  |  | 12667 |
| INDUSTRIALS 6.9% | INDUSTRIALS 6.9% | INDUSTRIALS 6.9% |
|  AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
|  4.800% due 03/15/2029 | 200 | 203 |
|  Air Canada | Air Canada | Air Canada |
|  4.625% due 08/15/2029 | 200 | 142 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.250% due 04/15/2030 | 57 | 55 |
|  3.375% due 11/01/2028 | 142 | 141 |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd. | American Airlines, Inc./AAdvantage Loyalty IP Ltd. | American Airlines, Inc./AAdvantage Loyalty IP Ltd. |
|  5.500% due 04/20/2026 | 17 | 17 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  2.450% due 02/21/2030 | 200 | 186 |
|  Ashtead Capital, Inc. | Ashtead Capital, Inc. | Ashtead Capital, Inc. |
|  5.950% due 10/15/2033 | 200 | 206 |
|  Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |
|  5.000% due 06/15/2036 | 250 | 246 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 950 | 978 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  4.750% due 03/21/2028 | 100 | 101 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Centene Corp. | Centene Corp. | Centene Corp. |
|  3.000% due 10/15/2030 | 200 | 175 |
|  Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital |
|  3.500% due 06/01/2041 | 100 | 70 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  4.750% due 05/09/2032 | 300 | 298 |
|  Embraer Netherlands Finance BV | Embraer Netherlands Finance BV | Embraer Netherlands Finance BV |
|  5.980% due 02/11/2035 | 100 | 103 |
|  Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
|  4.550% due 01/15/2031 | 200 | 198 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 | 250 | 246 |
|  Flora Food Management BV | Flora Food Management BV | Flora Food Management BV |
|  6.875% due 07/02/2029 | 200 | 217 |
|  Flutter Treasury DAC | Flutter Treasury DAC | Flutter Treasury DAC |
|  4.000% due 06/04/2031 | 100 | 112 |
|  Frontier Communications Holdings LLC | Frontier Communications Holdings LLC | Frontier Communications Holdings LLC |
|  8.750% due 05/15/2030 | 200 | 205 |
|  Grifols SA | Grifols SA | Grifols SA |
|  3.875% due 10/15/2028 | 200 | 226 |
|  GSG Bidco Ltd. | GSG Bidco Ltd. | GSG Bidco Ltd. |
|  5.375% due 06/15/2036 | 100 | 115 |
|  Haleon U.S. Capital LLC | Haleon U.S. Capital LLC | Haleon U.S. Capital LLC |
|  3.375% due 03/24/2027 | 250 | 248 |
|  Harbour Energy PLC | Harbour Energy PLC | Harbour Energy PLC |
|  6.327% due 04/01/2035 | 100 | 103 |
|  Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. | Hilton Domestic Operating Co., Inc. |
|  3.625% due 02/15/2032 | 100 | 91 |
|  3.750% due 05/01/2029 | 200 | 192 |
|  Hyatt Hotels Corp. | Hyatt Hotels Corp. | Hyatt Hotels Corp. |
|  5.050% due 03/30/2028 | 150 | 151 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  4.900% due 06/23/2028 | 200 | 201 |
|  Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. |
|  5.625% due 06/15/2028 | 100 | 101 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  2.850% due 04/15/2031 | 200 | 183 |
|  Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC | Mitchells & Butlers Finance PLC |
|  6.013% due 12/15/2030 | 80 | 106 |
|  National Fuel Gas Co. | National Fuel Gas Co. | National Fuel Gas Co. |
|  5.500% due 03/15/2030 | 100 | 102 |
|  Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. |
|  4.810% due 09/17/2030 | 200 | 182 |
|  Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
|  6.700% due 02/16/2032 | 199 | 195 |
|  Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. |
|  4.750% due 05/15/2033 | 200 | 193 |
|  Sands China Ltd. | Sands China Ltd. | Sands China Ltd. |
|  4.375% due 06/18/2030 | 200 | 193 |
|  T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
|  3.875% due 04/15/2030 | 100 | 97 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  5.875% due 04/15/2029 | 65 | 66 |
|  Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC |
|  4.900% due 08/01/2030 | 100 | 100 |
|  5.700% due 08/01/2035 | 100 | 101 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  6.750% due 01/15/2033 | 200 | 179 |
|  7.750% due 04/15/2032 | 200 | 192 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  5.650% due 03/25/2032 | 200 | 203 |
|  Yorkshire Water Finance PLC | Yorkshire Water Finance PLC | Yorkshire Water Finance PLC |
|  5.250% due 04/28/2030 | 200 | 261 |
|  |  | 7680 |
| UTILITIES 2.9% | UTILITIES 2.9% | UTILITIES 2.9% |
|  AES Corp. | AES Corp. | AES Corp. |
|  2.450% due 01/15/2031 | 100 | 89 |
|  Anglian Water Osprey Financing PLC | Anglian Water Osprey Financing PLC | Anglian Water Osprey Financing PLC |
|  6.750% due 08/27/2031 | 100 | 134 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **137** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Boston Gas Co. | Boston Gas Co. | Boston Gas Co. | Boston Gas Co. |
|  3.757% due 03/16/2032 | $| 100 | 94 |
|  Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
|  3.375% due 04/01/2030 |  | 200 | 191 |
|  DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC | DWR Cymru Financing U.K. PLC |
|  2.375% due 03/31/2034 | GBP | 200 | 197 |
|  Edison International | Edison International | Edison International | Edison International |
|  6.250% due 03/15/2030 | $| 100 | 104 |
|  Emera U.S. Finance LLC | Emera U.S. Finance LLC | Emera U.S. Finance LLC | Emera U.S. Finance LLC |
|  4.500% due 04/01/2029 |  | 50 | 50 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  5.125% due 06/26/2029 |  | 300 | 304 |
|  EPH Financing International AS | EPH Financing International AS | EPH Financing International AS | EPH Financing International AS |
|  6.651% due 11/13/2028 | EUR | 100 | 122 |
|  Evergy, Inc. | Evergy, Inc. | Evergy, Inc. | Evergy, Inc. |
|  4.250% due 03/15/2029 | $| 200 | 199 |
|  Georgia Power Co. | Georgia Power Co. | Georgia Power Co. | Georgia Power Co. |
|  4.700% due 05/15/2032 |  | 300 | 300 |
|  Northumbrian Water Finance PLC | Northumbrian Water Finance PLC | Northumbrian Water Finance PLC | Northumbrian Water Finance PLC |
|  1.625% due 10/11/2026 | GBP | 100 | 130 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  3.250% due 06/01/2031 | $| 200 | 185 |
|  4.400% due 03/01/2032 |  | 200 | 193 |
|  PacifiCorp | PacifiCorp | PacifiCorp | PacifiCorp |
|  5.450% due 04/15/2033 |  | 50 | 50 |
|  Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. |
|  4.900% due 03/15/2030 |  | 100 | 101 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  5.150% due 06/01/2029 |  | 150 | 152 |
|  Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
|  2.950% due 04/15/2027 |  | 200 | 197 |
|  SW Finance I PLC | SW Finance I PLC | SW Finance I PLC | SW Finance I PLC |
|  2.375% due 05/28/2028 | GBP | 100 | 123 |
|  5.750% due 11/19/2030 |  | 100 | 130 |
|  Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC |
|  4.700% due 01/31/2031 | $| 100 | 98 |
|  |  |  | 3143 |
|  Total Corporate Bonds & Notes (Cost $23,672) | Total Corporate Bonds & Notes (Cost $23,672) | Total Corporate Bonds & Notes (Cost $23,672) | 23490 |
| MUNICIPAL BONDS & NOTES 0.2% | MUNICIPAL BONDS & NOTES 0.2% | MUNICIPAL BONDS & NOTES 0.2% | MUNICIPAL BONDS & NOTES 0.2% |
| CALIFORNIA 0.2% | CALIFORNIA 0.2% | CALIFORNIA 0.2% | CALIFORNIA 0.2% |
|  Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Notes, Series 2021 |
|  2.587% due 06/01/2029 |  | 200 | 189 |
|  Total Municipal Bonds & Notes (Cost $200) | Total Municipal Bonds & Notes (Cost $200) | Total Municipal Bonds & Notes (Cost $200) | 189 |
| U.S. GOVERNMENT AGENCIES 44.6% | U.S. GOVERNMENT AGENCIES 44.6% | U.S. GOVERNMENT AGENCIES 44.6% | U.S. GOVERNMENT AGENCIES 44.6% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  6.000% due 04/01/2055 |  | 580 | 603 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  4.000% due 04/01/2048 |  | 322 | 308 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.902% due 03/25/2034 •  |  | 1 | 1 |
|  4.676% due 04/25/2032 •  |  | 0 | 1 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  5.000% due 05/01/2056 |  | 3800 | 3756 |
|  6.000% due 05/01/2056 |  | 4000 | 4063 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  2.500% due 04/01/2056 |  | 100 | 84 |
|  3.000% due 06/01/2040 |  | 4300 | 3771 |
|  3.500% due 06/01/2056 |  | 5900 | 5397 |
|  4.000% due 06/01/2056 |  | 600 | 565 |
|  4.500% due 05/01/2056 |  | 2900 | 2796 |
|  5.000% due 05/01/2056 |  | 12800 | 12609 |
|  5.500% due 05/01/2056 |  | 3900 | 3913 |
|  6.000% due 06/01/2056 |  | 11400 | 11604 |
|  Total U.S. Government Agencies (Cost $49,504) | Total U.S. Government Agencies (Cost $49,504) | Total U.S. Government Agencies (Cost $49,504) | 49471 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. TREASURY OBLIGATIONS 9.7% | U.S. TREASURY OBLIGATIONS 9.7% | U.S. TREASURY OBLIGATIONS 9.7% |
|  U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) |
|  0.625% due 07/15/2032 | 2686 | 2536 |
|  1.125% due 01/15/2033 (k) | 1856 | 1788 |
|  1.750% due 01/15/2034 (k) | 106 | 105 |
|  1.875% due 07/15/2034 | 2125 | 2136 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  4.125% due 02/15/2036 | 40 | 39 |
|  4.250% due 11/15/2034 | 3600 | 3600 |
|  4.875% due 04/30/2026 (k) | 600 | 601 |
|  Total U.S. Treasury Obligations (Cost $10,674) | Total U.S. Treasury Obligations (Cost $10,674) | 10805 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 2.1% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.1% | NON-AGENCY MORTGAGE-BACKED SECURITIES 2.1% |
|  American Home Mortgage Investment Trust | American Home Mortgage Investment Trust | American Home Mortgage Investment Trust |
|  6.500% due 03/25/2047 þ | 84 | 49 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  6.277% due 06/20/2032 ~ | 8 | 8 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.539% due 05/25/2036 ~ | 495 | 235 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  5.561% due 02/25/2034 ~ | 12 | 11 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  6.000% due 01/25/2036 | 247 | 164 |
|  CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust |
|  3.933% due 11/25/2036 •  | 825 | 101 |
|  CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust |
|  6.421% due 10/25/2037 ~ | 188 | 106 |
|  EMF-NL Prime BV | EMF-NL Prime BV | EMF-NL Prime BV |
|  2.833% due 04/17/2041 •  | 3 | 3 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  4.394% due 06/25/2034 ~ | 6 | 6 |
|  5.750% due 01/25/2037 | 9 | 5 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  4.299% due 06/19/2036 ~ | 98 | 39 |
|  MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust |
|  6.266% due 05/25/2034 ~ | 21 | 21 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust |
|  4.647% due 08/15/2032 •  | 23 | 23 |
|  Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(a) | 1500 | 1035 |
|  RALI Trust | RALI Trust | RALI Trust |
|  6.160% due 09/25/2037 ~ | 321 | 212 |
|  Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust |
|  6.000% due 07/25/2037 | 193 | 69 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.291% due 07/19/2035 •  | 12 | 11 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  3.799% due 03/25/2037 ~ | 268 | 235 |
|  5.259% due 08/25/2042 •  | 4 | 4 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $3,136) | Total Non-Agency Mortgage-Backed Securities (Cost $3,136) | 2337 |
| ASSET-BACKED SECURITIES 8.8% | ASSET-BACKED SECURITIES 8.8% | ASSET-BACKED SECURITIES 8.8% |
| CMBS OTHER 0.5% | CMBS OTHER 0.5% | CMBS OTHER 0.5% |
|  AREIT Trust | AREIT Trust | AREIT Trust |
|  5.920% due 06/17/2039 •  | 257 | 257 |
|  TRTX Issuer Ltd. | TRTX Issuer Ltd. | TRTX Issuer Ltd. |
|  5.328% due 02/15/2039 •  | 255 | 256 |
|  |  | 513 |
| HOME EQUITY OTHER 3.8% | HOME EQUITY OTHER 3.8% | HOME EQUITY OTHER 3.8% |
|  Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.498% due 11/25/2035 •  | 49 | 49 |
|  4.813% due 09/25/2034 •  | 12 | 12 |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.253% due 02/25/2037 •  | 493 | 482 |
|  CIT Mortgage Loan Trust | CIT Mortgage Loan Trust | CIT Mortgage Loan Trust |
|  5.293% due 10/25/2037 •  | 241 | 244 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  3.993% due 06/25/2047 •  | 320 | 288 |
|  4.533% due 08/25/2047 •  | 75 | 74 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  4.073% due 01/25/2037 •  | 443 | 229 |
|  HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust |
|  4.573% due 01/25/2036 •  | 400 | 356 |
|  IXIS Real Estate Capital Trust | IXIS Real Estate Capital Trust | IXIS Real Estate Capital Trust |
|  4.253% due 01/25/2037 •  | 108 | 35 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  4.093% due 09/25/2036 •  | 614 | 211 |
|  4.333% due 12/25/2034 •  | 231 | 222 |
|  Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust |
|  4.313% due 07/25/2036 •  | 866 | 789 |
|  Saxon Asset Securities Trust | Saxon Asset Securities Trust | Saxon Asset Securities Trust |
|  4.103% due 09/25/2037 •  | 141 | 137 |
|  SG Mortgage Securities Trust | SG Mortgage Securities Trust | SG Mortgage Securities Trust |
|  4.213% due 10/25/2036 •  | 700 | 567 |
|  Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust |
|  3.993% due 06/25/2037 •  | 436 | 302 |
|  WaMu Asset-Backed Certificates Trust | WaMu Asset-Backed Certificates Trust | WaMu Asset-Backed Certificates Trust |
|  4.018% due 05/25/2037 •  | 240 | 229 |
|  |  | 4226 |
| OTHER ABS 4.5% | OTHER ABS 4.5% | OTHER ABS 4.5% |
|  Aurium CLO IV DAC | Aurium CLO IV DAC | Aurium CLO IV DAC |
|  2.746% due 01/16/2031 •  | 185 | 215 |
|  Benefit Street Partners CLO XXII Ltd. | Benefit Street Partners CLO XXII Ltd. | Benefit Street Partners CLO XXII Ltd. |
|  4.818% due 04/20/2035 •  | 500 | 500 |
|  BlackRock European CLO VII DAC | BlackRock European CLO VII DAC | BlackRock European CLO VII DAC |
|  2.636% due 10/15/2031 •  | 84 | 97 |
|  Carlyle Euro CLO DAC | Carlyle Euro CLO DAC | Carlyle Euro CLO DAC |
|  3.194% due 08/15/2038 •  | 500 | 578 |
|  CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC |
|  3.285% due 01/23/2039 •  | 500 | 577 |
|  Harvest CLO XXII DAC | Harvest CLO XXII DAC | Harvest CLO XXII DAC |
|  2.866% due 01/15/2032 •  | 323 | 373 |
|  Jubilee CLO DAC | Jubilee CLO DAC | Jubilee CLO DAC |
|  2.666% due 04/15/2031 •  | 210 | 243 |
|  Northwoods Capital 25 Ltd. | Northwoods Capital 25 Ltd. | Northwoods Capital 25 Ltd. |
|  4.788% due 07/20/2034 •  | 500 | 500 |
|  Romark CLO - IV Ltd. | Romark CLO - IV Ltd. | Romark CLO - IV Ltd. |
|  4.790% due 07/10/2034 •  | 500 | 500 |
|  Shackleton CLO Ltd. | Shackleton CLO Ltd. | Shackleton CLO Ltd. |
|  4.868% due 07/20/2034 •  | 500 | 501 |
|  Sierra Madre Funding Ltd. | Sierra Madre Funding Ltd. | Sierra Madre Funding Ltd. |
|  4.184% due 09/07/2039 •  | 584 | 313 |
|  Toro European CLO 3 DAC | Toro European CLO 3 DAC | Toro European CLO 3 DAC |
|  3.006% due 07/15/2034 •  | 500 | 578 |
|  |  | 4975 |
|  Total Asset-Backed Securities (Cost $9,823) | Total Asset-Backed Securities (Cost $9,823) | 9714 |
| SOVEREIGN ISSUES 14.0% | SOVEREIGN ISSUES 14.0% | SOVEREIGN ISSUES 14.0% |
|  Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional |
|  0.000% due 07/01/2026 (b) | 3100 | 580 |
|  0.000% due 10/01/2026 (b) | 16200 | 2930 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  1.000% due 01/24/2035 | 2570300 | 637 |
|  Colombia TES | Colombia TES | Colombia TES |
|  1.000% due 09/18/2030 | 2292600 | 502 |
|  6.500% due 01/22/2031 (d) | 2553206 | 666 |
|  11.000% due 08/22/2029 | 718000 | 181 |
|  11.500% due 07/25/2046 | 265500 | 64 |
|  11.750% due 01/24/2035 | 2823800 | 700 |
|  12.750% due 11/28/2040 | 724000 | 192 |
|  13.250% due 02/09/2033 | 626000 | 168 |
|  Israel Government International Bonds | Israel Government International Bonds | Israel Government International Bonds |
|  5.375% due 03/12/2029 | 200 | 203 |
|  5.625% due 02/19/2035 | 200 | 204 |
|  Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds |
|  2.200% due 03/20/2064 | 49000 | 214 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.300% due 12/20/2054 | 80000 | 383 |

---

---

| | | |
|:---|:---|:---|
| **138** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | JPY | 110000 | 576 |
|  Korea Housing Finance Corp. | Korea Housing Finance Corp. | Korea Housing Finance Corp. | Korea Housing Finance Corp. |
|  4.344% (SONIO/N + 0.600%) due 10/14/2028 ~ | GBP | 100 | 133 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  5.400% due 02/09/2028 | $| 200 | 203 |
|  Peru Government Bonds | Peru Government Bonds | Peru Government Bonds | Peru Government Bonds |
|  5.940% due 02/12/2029 | PEN | 300 | 90 |
|  6.850% due 08/12/2035 |  | 400 | 117 |
|  7.300% due 08/12/2033 |  | 2600 | 819 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 |  | 1100 | 300 |
|  6.150% due 08/12/2032 |  | 2600 | 781 |
|  6.900% due 08/12/2037 |  | 500 | 143 |
|  6.950% due 08/12/2031 |  | 2481 | 773 |
|  Republic of Poland Government International Bonds | Republic of Poland Government International Bonds | Republic of Poland Government International Bonds | Republic of Poland Government International Bonds |
|  4.625% due 03/18/2029 | $| 200 | 202 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  7.000% due 02/28/2031 | ZAR | 29400 | 1628 |
|  8.000% due 01/31/2030 |  | 10100 | 590 |
|  8.250% due 03/31/2032 |  | 2200 | 127 |
|  8.500% due 01/31/2037 |  | 7900 | 436 |
|  8.875% due 02/28/2035 |  | 4200 | 244 |
|  9.000% due 01/31/2040 |  | 2600 | 145 |
|  Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds |
|  4.850% due 09/30/2029 | $| 400 | 393 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  1.750% due 07/13/2030 | EUR | 200 | 204 |
|  Total Sovereign Issues (Cost $15,137) | Total Sovereign Issues (Cost $15,137) | Total Sovereign Issues (Cost $15,137) | 15528 |
|  |  | **SHARES** |  |
| PREFERRED SECURITIES 0.1% | PREFERRED SECURITIES 0.1% | PREFERRED SECURITIES 0.1% | PREFERRED SECURITIES 0.1% |
| BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% |
|  AGFC Capital Trust I | AGFC Capital Trust I | AGFC Capital Trust I | AGFC Capital Trust I |
|  5.684% (US0003M + 1.750%) due 01/15/2067 ~ |  | 100000 | 63 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  10.250% due 12/31/2049 ~(e) |  | 250 | 42 |
|  Total Preferred Securities (Cost $107) | Total Preferred Securities (Cost $107) | Total Preferred Securities (Cost $107) | 105 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| SHORT-TERM INSTRUMENTS 23.9% | SHORT-TERM INSTRUMENTS 23.9% | SHORT-TERM INSTRUMENTS 23.9% |
| COMMERCIAL PAPER 3.0% | COMMERCIAL PAPER 3.0% | COMMERCIAL PAPER 3.0% |
|  Air Lease Corp. | Air Lease Corp. | Air Lease Corp. |
|  4.400% due 04/14/2026 | 250 | 250 |
|  Alimentation Couche-Tard, Inc. | Alimentation Couche-Tard, Inc. | Alimentation Couche-Tard, Inc. |
|  4.100% due 04/21/2026 | 250 | 249 |
|  AMETEK, Inc. | AMETEK, Inc. | AMETEK, Inc. |
|  4.150% due 04/20/2026 | 250 | 249 |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  3.900% due 04/06/2026 | 250 | 250 |
|  Electricite de France SA | Electricite de France SA | Electricite de France SA |
|  3.900% due 04/01/2026 | 250 | 250 |
|  Elevance Health, Inc. | Elevance Health, Inc. | Elevance Health, Inc. |
|  4.050% due 04/13/2026 | 150 | 150 |
|  ERAC USA Finance LLC | ERAC USA Finance LLC | ERAC USA Finance LLC |
|  4.170% due 04/20/2026 | 250 | 249 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  4.200% due 05/11/2026 | 250 | 249 |
|  Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV | Jones Lang LaSalle Finance BV |
|  4.250% due 04/09/2026 | 250 | 250 |
|  Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. |
|  3.920% due 04/27/2026 | 450 | 449 |
|  Phillips 66 | Phillips 66 | Phillips 66 |
|  4.370% due 05/01/2026 | 250 | 249 |
|  4.400% due 05/29/2026 | 250 | 248 |
|  Targa Resources Corp. | Targa Resources Corp. | Targa Resources Corp. |
|  3.950% due 05/01/2026 | 250 | 249 |
|  |  | 3341 |
|  | SHARES |  |
| MUTUAL FUNDS 0.3% | MUTUAL FUNDS 0.3% | MUTUAL FUNDS 0.3% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (g) | 312496 | 312 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) | MARKET<br>VALUE<br>(000S) |
| REPURCHASE AGREEMENTS (h) 20.6% | REPURCHASE AGREEMENTS (h) 20.6% | REPURCHASE AGREEMENTS (h) 20.6% | REPURCHASE AGREEMENTS (h) 20.6% | REPURCHASE AGREEMENTS (h) 20.6% |
|  |  |  | $— | 22800 |
| TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% | TURKEY TREASURY BILLS 0.0% |
|  38.754% due 04/07/2026 (b)(c) | TRY | 1000 |  | 22 |
| Total Short-Term Instruments (Cost $26,476) | Total Short-Term Instruments (Cost $26,476) | Total Short-Term Instruments (Cost $26,476) |  | 26475 |
| Total Investments in Securities (Cost $139,179) | Total Investments in Securities (Cost $139,179) | Total Investments in Securities (Cost $139,179) |  | 138577 |
|  |  | SHARES |  |  |
| INVESTMENTS IN AFFILIATES 24.3% | INVESTMENTS IN AFFILIATES 24.3% | INVESTMENTS IN AFFILIATES 24.3% | INVESTMENTS IN AFFILIATES 24.3% | INVESTMENTS IN AFFILIATES 24.3% |
| SHORT-TERM INSTRUMENTS 24.3% | SHORT-TERM INSTRUMENTS 24.3% | SHORT-TERM INSTRUMENTS 24.3% | SHORT-TERM INSTRUMENTS 24.3% | SHORT-TERM INSTRUMENTS 24.3% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 24.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 24.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 24.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 24.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 24.3% |
|  PIMCO Short Asset Portfolio | PIMCO Short Asset Portfolio | 468446 |  | 4598 |
|  PIMCO Short-Term Floating NAV Portfolio III |  | 2296914 |  | 22369 |
| Total Short-Term Instruments (Cost $26,948) | Total Short-Term Instruments (Cost $26,948) | Total Short-Term Instruments (Cost $26,948) |  | 26967 |
| Total Investments in Affiliates (Cost $26,948) | Total Investments in Affiliates (Cost $26,948) | Total Investments in Affiliates (Cost $26,948) |  | 26967 |
| Total Investments 149.3%<br> (Cost $166,127) | Total Investments 149.3%<br> (Cost $166,127) | Total Investments 149.3%<br> (Cost $166,127) | $— | 165544 |
|  Financial Derivative<br>Instruments (i)(j) 0.0%<br> (Cost or Premiums, net $(24)) | Financial Derivative<br>Instruments (i)(j) 0.0%<br> (Cost or Premiums, net $(24)) | Financial Derivative<br>Instruments (i)(j) 0.0%<br> (Cost or Premiums, net $(24)) |  | 15 |
| Other Assets and Liabilities, net (49.3)% | Other Assets and Liabilities, net (49.3)% | Other Assets and Liabilities, net (49.3)% |  | (54653) |
| Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $— | 110906 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| ~ | 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) Zero coupon security.

(c) Coupon represents a yield to maturity.

(d) Principal amount of security is adjusted for inflation.

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

(f) Contingent convertible security.

(g) Coupon represents a 7-Day Yield.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **139** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(h) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| FICC STR | 3.660% | 03/31/2026 | 04/01/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22800 | U.S. Treasury Bonds 4.625% due 05/15/2054 | $(23256) | $22800 | $22802 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23256) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22802 |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (3.2)% | U.S. Government Agencies (3.2)% | U.S. Government Agencies (3.2)% | U.S. Government Agencies (3.2)% | U.S. Government Agencies (3.2)% | U.S. Government Agencies (3.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000% | 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | $(3525) | $(3543) |
|  Total Short Sales (3.2)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3525) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3543) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(2)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  FICC STR | $22802 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22802 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23256) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22802 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |  |  |

---

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### WRITTEN OPTIONS:

#### FUTURE STYLED OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS<sup>(1)</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - Eurex Euro-Bund 10-Year Bond April Futures | EUR 125.500 | 04/24/2026 | 1 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | $(0) | $(1) |
|  Call - Eurex Euro-Bund 10-Year Bond April Futures | 128.000 | 04/24/2026 | 1 | 1 | (0) | (0) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $110.000 | 04/24/2026 | 2 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | $(1) | $(1) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 2 | 2 | (1) | 0 |
|  |  |  |  |  | (2) | (1) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month EURIBOR December Futures  | 12/2026 | 38 | $10671 | $(35) | $0 | $0 |
|  3-Month SOFR Active Contract June Futures  | 09/2026 | 11 | 2649 | (11) | 1 | 0 |
|  3-Month SOFR Active Contract March Futures  | 06/2026 | 11 | 2649 | (11) | 0 | 0 |
|  3-Month SONIA March Futures  | 06/2027 | 22 | 6962 | 10 | 9 | 0 |
|  Long Guilt June Futures  | 06/2026 | 7 | 813 | (48) | 6 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24064 | (170) | 9 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 69 | 7662 | (132) | 16 | 0 |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 8 | 933 | (29) | 2 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(426) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

140 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Bobl June Futures  | 06/2026 | 3 | $(400) | $6 | $0 | $(2) |
|  Euro-Bund June Futures  | 06/2026 | 23 | (3333) | 85 | 0 | (24) |
|  Euro-Schatz June Futures  | 06/2026 | 7 | (856) | 8 | 0 | (1) |
|  Japan Government 10-Year Bond June Futures  | 06/2026 | 5 | (4105) | 47 | 1 | (9) |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 47 | (5084) | 74 | 0 | (7) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13508) | 309 | 0 | (35) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 9 | (1025) | 33 | 0 | (3) |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | $1 | $(81) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $136 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity** | Fixed<br>Receive Rate | Payment<br>Frequency | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup>** | **Notional<br>Amount<sup>(5)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(6)</sup>** | Variation Margin | Variation Margin |
| **Reference Entity** | Fixed<br>Receive Rate | Payment<br>Frequency | **Maturity<br>Date** | **Implied<br>Credit Spread at<br>March 31, 2026<sup>(4)</sup>** | **Notional<br>Amount<sup>(5)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(6)</sup>** | Asset | Liability |
|  Boeing Co. | 1.000% | Quarterly | 12/20/2026 | 0.255% | $300 | $(1) | $3 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | $0 | $0 |
|  Deutsche Bank | 1.000 | Quarterly | 12/20/2030 | 0.947 | 300 | 4 | (3) | 1 | 0 | 0 |
|  Discovery Global Holdings, Inc. | 1.000 | Quarterly | 12/20/2026 | 0.970 | $50 | 0 | 0 | 0 | 0 | 0 |
|  Goldman Sachs Group, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.312 | 50 | 0 | 0 | 0 | 0 | 0 |
|  Oracle Corp. | 1.000 | Quarterly | 06/20/2030 | 1.622 | 100 | 2 | (5) | (3) | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION<sup>(3)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>(Pay) Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(5)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(6)</sup>** | Variation Margin | Variation Margin |
| **Index/Tranches** | **Fixed<br>(Pay) Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(5)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(6)</sup>** | Asset | Liability |
|  CDX.HY-41 5-Year Index | (5.000)% | Quarterly | 12/20/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Variation Margin | Variation Margin |
| **Index/Tranches** | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(5)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(6)</sup> | Asset | Liability |
|  CDX.EM-40 5-Year Index | 1.000% | Quarterly | 12/20/2028 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | $(5) | $5 | $0 | $1 | $0 |
|  CDX.EM-45 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 200 | (8) | 0 | (8) | 1 | 0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | 2 | 0 |
|  |  |  |  |  | $(1) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
|  Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | 1300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  Receive | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 03/18/2036 | 190 | 1 | 8 | 9 | 0 | (1) |
|  Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 03/18/2028 | 1670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | 5 | 71 | 0 | (6) |
|  Receive<sup>(7)</sup> | 1-Day JPY-MUTKCALM Compounded-OIS | 1.500 | Annual | 09/16/2028 | 975000 | 13 | (4) | 9 | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | $3200 | 7 | (26) | (19) | 0 | (3) |
|  Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 100 | 0 | 1 | 1 | 0 | 0 |
|  Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 100 | 0 | 1 | 1 | 0 | 0 |
|  Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.422 | Annual | 08/31/2030 | 100 | 0 | 1 | 1 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.545 | Annual | 10/31/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.582 | Annual | 10/31/2030 | 1200 | 0 | 2 | 2 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 10/31/2030 | 800 | 0 | 1 | 1 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.601 | Annual | 10/31/2030 | 700 | 0 | 1 | 1 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.623 | Annual | 10/31/2030 | 200 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.664 | Annual | 10/31/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.677 | Annual | 10/31/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.689 | Annual | 10/31/2030 | 500 | 0 | (1) | (1) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 200 | 0 | (1) | (1) | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **141** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.722% | Annual | 10/31/2030 |  | $500 | $0 | $(2) | $(2) | $0 | $(1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.735 | Annual | 10/31/2030 |  | 300 | 0 | (2) | (2) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 |  | 200 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 03/30/2031 |  | 1260 | 9 | 179 | 188 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 |  | 1600 | (2) | (5) | (7) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 |  | 4200 | (1) | (11) | (12) | 0 | (5) |
|  Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.564 | Annual | 01/31/2033 |  | 100 | 0 | 1 | 1 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 |  | 2030 | 35 | (24) | 11 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 |  | 3900 | (58) | 76 | 18 | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 |  | 50 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 |  | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 |  | 100 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 |  | 40 | 0 | 1 | 1 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 |  | 100 | 0 | 1 | 1 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 |  | 200 | 0 | 1 | 1 | 0 | 0 |
|  Receive<sup>(7)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 07/14/2044 |  | 110 | 0 | 5 | 5 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2045 |  | 300 | 10 | 7 | 17 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/21/2052 |  | 2900 | 605 | 547 | 1152 | 8 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.999 | Annual | 07/03/2053 |  | 580 | 31 | 183 | 214 | 2 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.842 | Annual | 09/19/2053 |  | 500 | 165 | 31 | 196 | 2 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.874 | Annual | 09/19/2053 |  | 300 | 97 | 19 | 116 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 2.060 | Semi-Annual | 10/27/2053 |  | 300 | 17 | 100 | 117 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 |  | 600 | 85 | 11 | 96 | 2 | 0 |
|  Pay | 1-Year BRL-CDI | 11.566 | Maturity | 01/04/2027 |  | 8700 | 0 | (69) | (69) | 2 | 0 |
|  Pay | 1-Year BRL-CDI | 13.175 | Maturity | 01/02/2029 |  | 3200 | 0 | (10) | (10) | 4 | 0 |
|  Pay | 1-Year BRL-CDI | 13.268 | Maturity | 01/02/2029 |  | 5800 | 0 | (11) | (11) | 7 | 0 |
|  Pay | 1-Year BRL-CDI | 13.354 | Maturity | 01/02/2029 |  | 18100 | 4 | (52) | (48) | 21 | 0 |
|  Receive | 3-Month COP-IBR Compounded-OIS | 8.500 | Quarterly | 04/28/2028 |  | 2833600 | 0 | 52 | 52 | 0 | (1) |
|  Receive | 3-Month COP-IBR Compounded-OIS | 8.750 | Quarterly | 09/18/2030 |  | 1788200 | 0 | 48 | 48 | 0 | (1) |
|  Pay | 3-Month COP-IBR Compounded-OIS | 9.655 | Quarterly | 01/24/2035 |  | 90000 | 0 | (2) | (2) | 0 | 0 |
|  Pay | 3-Month COP-IBR Compounded-OIS | 9.820 | Quarterly | 01/24/2035 |  | 426700 | 0 | (8) | (8) | 1 | 0 |
|  Receive<sup>(7)</sup> | 3-Month PLN-WIBOR | 4.723 | Annual | 12/01/2035 |  | 470 | 0 | 2 | 2 | 1 | 0 |
|  Receive<sup>(7)</sup> | 3-Month PLN-WIBOR | 4.685 | Annual | 12/02/2035 |  | 100 | 0 | 0 | 0 | 0 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 |  | 4400 | 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110) | (108) | 36 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 |  | 3900 | 67 | (169) | (102) | 34 | 0 |
|  Pay<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.523 | Annual | 12/01/2035 |  | 2620 | 0 | (1) | (1) | 0 | 0 |
|  Pay<sup>(7)</sup> | 6-Month CZK-PRIBOR | 4.485 | Annual | 12/02/2035 |  | 500 | 0 | 0 | 0 | 0 | 0 |
|  Pay | 6-Month EUR-EURIBOR | 2.950 | Annual | 06/12/2029 |  | 160 | 0 | 4 | 4 | 0 | 0 |
|  Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 09/16/2031 |  | 400 | 0 | (9) | (9) | 2 | 0 |
|  Pay | 6-Month EUR-EURIBOR | 2.415 | Annual | 07/09/2035 |  | 1800 | 0 | (62) | (62) | 16 | 0 |
|  Pay<sup>(7)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 |  | 3130 | (55) | (59) | (114) | 28 | 0 |
|  Receive<sup>(7)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 |  | 1080 | 2 | 25 | 27 | 0 | (12) |
|  |  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094 | $621 | $1715 | $172 | $(50) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 | $626 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset<sup>(8)</sup> | Variation Margin<br>Asset<sup>(8)</sup> | | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) |

---

**Cash of $1,905 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.** 

<sup>(1)</sup> Future styled option variation margin asset of $1 is outstanding at period end. 

<sup>(2)</sup> 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. 

---

| | | |
|:---|:---|:---|
| **142** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

<sup>(3)</sup> 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. 

<sup>(4)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> 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. 

<sup>(7)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

<sup>(8)</sup> Unsettled variation margin asset of $10 for closed futures is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(j) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | Unrealized Appreciation/<br>(Depreciation) | Unrealized Appreciation/<br>(Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | Asset | Liability |
|  AZD | 04/2026 | 1534 | $1120 | $17 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  | 04/2026 | 115 | 91 | 2 | 0 |
|  BOA | 04/2026 | 10922 | 2093 | 0 | (16) |
|  | 04/2026 | 331 | 48 | 0 | 0 |
|  | 04/2026 | 8101 | 86 | 1 | 0 |
|  | 04/2026 | 29165 | 20 | 1 | 0 |
|  | 04/2026 | 272 | 74 | 0 | 0 |
|  | 04/2026 | 32 | 25 | 0 | 0 |
|  | 04/2026 | $2094 | 10922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | 0 |
|  | 04/2026 | 20 | 138 | 0 | 0 |
|  | 04/2026 | 86 | 8115 | 0 | 0 |
|  | 06/2026 | 370 | $120 | 2 | 0 |
|  | 06/2026 | 1726 | 96 | 1 | 0 |
|  | 06/2026 | $10 | 31 | 0 | 0 |
|  | 08/2026 | 41 | 744 | 2 | 0 |
|  | 10/2026 | 500 | $92 | 0 | (1) |
|  BPS | 04/2026 | 4203 | 758 | 0 | (53) |
|  | 04/2026 | 138 | 20 | 0 | 0 |
|  | 04/2026 | 368 | 119 | 2 | 0 |
|  | 04/2026 | 9070 | 97 | 1 | 0 |
|  | 04/2026 | 639559 | 430 | 4 | 0 |
|  | 04/2026 | 83 | 22 | 0 | 0 |
|  | 04/2026 | 12581 | 388 | 7 | 0 |
|  | 04/2026 | 2323 | 51 | 0 | (1) |
|  | 04/2026 | $149 | 214 | 0 | (1) |
|  | 04/2026 | 800 | 4203 | 12 | 0 |
|  | 04/2026 | 560 | 9473676 | 0 | (2) |
|  | 04/2026 | 88 | 278 | 1 | 0 |
|  | 04/2026 | 59 | 87856 | 0 | (1) |
|  | 04/2026 | 189 | 680 | 0 | (5) |
|  | 04/2026 | 0 | 3 | 0 | 0 |
|  | 04/2026 | 51 | 2325 | 1 | 0 |
|  | 04/2026 | 309 | 9862 | 0 | (1) |
|  | 04/2026 | 1370 | $81 | 0 | 0 |
|  | 05/2026 | 278 | 88 | 0 | (1) |
|  | 05/2026 | 24686 | 261 | 0 | (1) |
|  | 05/2026 | 5800 | 180 | 0 | (1) |
|  | 05/2026 | $100 | 525 | 1 | 0 |
|  | 05/2026 | 131 | 2225142 | 0 | 0 |
|  | 05/2026 | 24 | 788 | 0 | 0 |
|  | 06/2026 | 10 | $0 | 0 | 0 |
|  | 06/2026 | $49 | 827615 | 0 | 0 |
|  | 07/2026 | 500 | $92 | 0 | (2) |
|  | 10/2026 | 3400 | 620 | 0 | (9) |
|  BRC | 04/2026 | 28312 | 619 | 0 | (9) |
|  | 04/2026 | $48 | 174 | 0 | (2) |
|  | 04/2026 | 156 | 1412 | 0 | (7) |
|  | 04/2026 | 1199 | 54482 | 7 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **143** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | 8663 | $529 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | $0 |
|  | 05/2026 | 6188 | 133 | 0 | (1) |
|  | 05/2026 | $534 | 24755 | 0 | 0 |
|  | 07/2026 | 4814871 | $1268 | 0 | (9) |
|  | 08/2026 | $20 | 352 | 1 | 0 |
|  BSH | 04/2026 | 6700 | $1205 | 0 | (89) |
|  | 04/2026 | 14013 | 88 | 0 | (1) |
|  | 04/2026 | $1290 | 6700 | 3 | 0 |
|  | 04/2026 | 1128 | 847 | 0 | (6) |
|  | 04/2026 | 941 | 1629 | 0 | (4) |
|  | 04/2026 | 391 | 1415 | 0 | (10) |
|  | 05/2026 | 847 | $1128 | 6 | 0 |
|  | 05/2026 | 1629 | 942 | 4 | 0 |
|  | 05/2026 | $88 | 13971 | 1 | 0 |
|  | 10/2026 | 7100 | $1311 | 0 | (4) |
|  | 12/2026 | 650 | 192 | 8 | 0 |
|  CBK | 04/2026 | 104 | 15 | 0 | 0 |
|  | 04/2026 | 502470 | 132 | 0 | (5) |
|  | 04/2026 | 292 | 338 | 1 | 0 |
|  | 04/2026 | 41 | 55 | 1 | 0 |
|  | 04/2026 | 74857 | 802 | 11 | 0 |
|  | 04/2026 | 215 | 22 | 0 | 0 |
|  | 04/2026 | 280 | 30 | 1 | 0 |
|  | 04/2026 | 3 | 0 | 0 | 0 |
|  | 04/2026 | 624 | 20 | 0 | 0 |
|  | 04/2026 | $66 | 454 | 0 | 0 |
|  | 04/2026 | 111 | 83 | 0 | (1) |
|  | 04/2026 | 2123 | 195388 | 1 | (55) |
|  | 04/2026 | 599 | $35 | 0 | 0 |
|  | 05/2026 | 637 | 180 | 0 | (3) |
|  | 06/2026 | 255292 | 67 | 0 | (2) |
|  | 06/2026 | 115 | 37 | 1 | 0 |
|  | 06/2026 | 1794 | 100 | 0 | 0 |
|  | 06/2026 | $30 | 505324 | 0 | 0 |
|  | 09/2026 | 1214 | $351 | 5 | 0 |
|  DUB | 04/2026 | 742 | 240 | 4 | 0 |
|  | 04/2026 | 25731 | 274 | 2 | 0 |
|  | 04/2026 | $357 | 520 | 2 | 0 |
|  | 04/2026 | 302 | 28470 | 2 | (2) |
|  | 04/2026 | 1614 | 2061 | 0 | (10) |
|  | 04/2026 | 114 | 3721 | 0 | (1) |
|  | 05/2026 | 520 | $357 | 0 | (2) |
|  | 05/2026 | 2057 | 1614 | 10 | 0 |
|  | 06/2026 | 228948 | 61 | 0 | 0 |
|  | 06/2026 | 3713 | 114 | 1 | 0 |
|  | 07/2026 | 791 | 234 | 8 | 0 |
|  | 08/2026 | 1611 | 477 | 17 | 0 |
|  FAR | 04/2026 | 281 | 199 | 5 | 0 |
|  | 04/2026 | 268 | 348 | 12 | 0 |
|  | 04/2026 | 889 | 1201 | 25 | 0 |
|  | 04/2026 | 17447 | 109 | 0 | (1) |
|  | 04/2026 | 547 | 58 | 0 | 0 |
|  | 04/2026 | 19 | 15 | 0 | 0 |
|  | 04/2026 | $236 | 188 | 0 | (1) |
|  | 04/2026 | 15 | 2274 | 0 | 0 |
|  | 04/2026 | 54 | 193 | 0 | (2) |
|  | 05/2026 | 188 | $236 | 1 | 0 |
|  | 05/2026 | 462 | 146 | 0 | (1) |
|  | 05/2026 | $109 | 17395 | 1 | 0 |
|  | 05/2026 | 58 | 546 | 0 | 0 |
|  | 06/2026 | 264 | $85 | 1 | 0 |
|  | 06/2026 | 2199 | 643 | 14 | 0 |
|  | 06/2026 | $131 | 2284 | 0 | (4) |
|  | 07/2026 | 207 | $61 | 2 | 0 |
|  GLM | 04/2026 | 20840 | 3796 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(227) |
|  | 04/2026 | 49342 | 13 | 0 | 0 |
|  | 04/2026 | 357 | 115 | 1 | 0 |
|  | 04/2026 | $3979 | 20840 | 45 | 0 |
|  | 04/2026 | 44 | 302 | 0 | 0 |

---

---

| | | |
|:---|:---|:---|
| **144** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $15 | 256838 | $0 | $0 |
|  | 04/2026 | 299 | 5489 | 7 | 0 |
|  | 04/2026 | 62 | 2043 | 0 | 0 |
|  | 05/2026 | 12952 | $393 | 0 | (1) |
|  | 06/2026 | 839423 | 50 | 0 | 0 |
|  | 06/2026 | 366 | 21 | 0 | 0 |
|  | 06/2026 | 374 | 107 | 0 | 0 |
|  | 06/2026 | 2040 | 62 | 0 | 0 |
|  | 06/2026 | $1946 | 10478 | 50 | 0 |
|  | 06/2026 | 76 | 1279078 | 0 | 0 |
|  | 06/2026 | 24 | 76 | 0 | 0 |
|  | 06/2026 | 231 | 4034 | 0 | (8) |
|  | 07/2026 | 2600 | $481 | 0 | (11) |
|  IND | 04/2026 | 3593 | 4242 | 90 | 0 |
|  JPM | 04/2026 | 4900 | 939 | 0 | (7) |
|  | 04/2026 | 265 | 38 | 0 | 0 |
|  | 04/2026 | 12818 | 136 | 1 | 0 |
|  | 04/2026 | 570 | 155 | 2 | 0 |
|  | 04/2026 | 1895 | 1504 | 30 | 0 |
|  | 04/2026 | $932 | 4900 | 14 | 0 |
|  | 04/2026 | 235 | 200 | 0 | (4) |
|  | 04/2026 | 136 | 12840 | 0 | 0 |
|  | 04/2026 | 1288 | 23109 | 3 | (3) |
|  | 04/2026 | 109 | 187 | 0 | (2) |
|  | 04/2026 | 26611 | $1591 | 21 | (1) |
|  | 05/2026 | $8 | 58 | 0 | 0 |
|  | 06/2026 | 264 | $86 | 1 | 0 |
|  | 06/2026 | 1778 | 99 | 1 | 0 |
|  | 10/2026 | 5200 | 947 | 0 | (16) |
|  MBC | 04/2026 | 16 | 20 | 0 | 0 |
|  | 04/2026 | 130 | 6 | 0 | 0 |
|  | 04/2026 | 296 | 342 | 1 | 0 |
|  | 04/2026 | 7776 | 49 | 0 | 0 |
|  | 04/2026 | 360 | 37 | 0 | 0 |
|  | 04/2026 | 585 | 62 | 1 | 0 |
|  | 04/2026 | 3563 | 112 | 4 | 0 |
|  | 04/2026 | $122 | 96 | 0 | (2) |
|  | 04/2026 | 161 | 25462 | 0 | 0 |
|  | 04/2026 | 337 | 492998 | 0 | (9) |
|  | 04/2026 | 74 | 1358 | 2 | 0 |
|  | 04/2026 | 60 | 575 | 0 | (1) |
|  | 05/2026 | 49 | 7752 | 0 | 0 |
|  | 05/2026 | 37 | 360 | 0 | 0 |
|  | 06/2026 | 236 | $13 | 0 | 0 |
|  MYI | 04/2026 | 35 | 10 | 0 | 0 |
|  | 04/2026 | $74 | 1340 | 1 | 0 |
|  NGF | 04/2026 | 13 | 592 | 0 | 0 |
|  SCX | 04/2026 | 16201 | $173 | 2 | 0 |
|  | 04/2026 | 1816 | 1086 | 42 | 0 |
|  | 04/2026 | 12 | 10 | 0 | 0 |
|  | 04/2026 | 314 | 10 | 0 | 0 |
|  | 04/2026 | $1109 | 1536 | 0 | (5) |
|  | 04/2026 | 229 | 20890 | 0 | (9) |
|  | 04/2026 | 11 | 1789 | 0 | 0 |
|  | 04/2026 | 60 | 216 | 0 | (2) |
|  | 04/2026 | 14 | 455 | 0 | 0 |
|  | 05/2026 | 1534 | $1110 | 5 | 0 |
|  | 05/2026 | 7 | 0 | 0 | 0 |
|  | 06/2026 | $129 | 2170236 | 0 | (1) |
|  SOG | 04/2026 | 203 | $240 | 6 | 0 |
|  | 04/2026 | $4828 | 4184 | 8 | 0 |
|  | 04/2026 | 63 | 9865 | 0 | (1) |
|  | 05/2026 | 4184 | $4836 | 0 | (8) |
|  | 06/2026 | 174 | 56 | 1 | 0 |
|  | 06/2026 | 3355 | 996 | 35 | 0 |
|  SSB | 04/2026 | 453 | 323 | 10 | 0 |
|  | 08/2026 | 497008 | 130 | 0 | (1) |
|  UAG | 04/2026 | 243 | 66 | 1 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **145** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $72 | 268079 | $1 | $0 |
|  | 04/2026 | 292 | 1057 | 0 | (8) |
|  | 05/2026 | 23 | $1 | 0 | 0 |
|  | 06/2026 | 476538 | 126 | 0 | (1) |
|  | 06/2026 | 290 | 94 | 1 | 0 |
|  | 06/2026 | 300 | 17 | 0 | 0 |
|  | 06/2026 | $191 | 3338 | 0 | (6) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(661) |

---

#### PURCHASED OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC USD versus BRL | BRL | 5.320 | 04/23/2026 | 320 | $4 | $10 |
|  | Put - OTC USD versus KRW | KRW | 1400.000 | 07/09/2026 | 164 | 2 | 1 |
|  | Put - OTC USD versus KRW |  | 1400.000 | 07/13/2026 | 136 | 1 | 0 |
|  | Put - OTC USD versus ZAR | ZAR | 18.000 | 08/19/2026 | 410 | 19 | 29 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.470% | 06/04/2035 | 300 | $27 | $23 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.470 | 06/04/2035 | 300 | 27 | 26 |
| DUB Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.757 | 09/18/2026 | 6600 | 5 | 15 |
| JPM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.808 | 07/31/2034 | 500 | 44 | 28 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.808 | 07/31/2034 | 500 | 44 | 51 |
| MYC Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.757 | 09/18/2026 | 10300 | 8 | 23 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.800 | 07/12/2034 | 1100 | 95 | 62 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.800 | 07/12/2034 | 1100 | 95 | 113 |
| NGF Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.757 | 09/18/2026 | 100 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | $341 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 |

---

#### WRITTEN OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | **Strike<br>Price** | **Strike<br>Price** | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus BRL | BRL | 5.120 | 04/23/2026 | 320 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
|  | Call - OTC USD versus BRL |  | 5.700 | 04/23/2026 | 320 | (3) | (1) |
|  | Put - OTC USD versus KRW | KRW | 1350.000 | 07/09/2026 | 164 | (1) | 0 |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/13/2026 | 136 | 0 | 0 |
|  | Put - OTC USD versus ZAR | ZAR | 17.000 | 08/19/2026 | 820 | (19) | (26) |
| MYI | Call - OTC USD versus JPY | JPY | 157.700 | 04/24/2026 | 521 | (3) | (6) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695% | 04/27/2026 | 300 | $(1) | $(1) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 300 | (1) | (1) |
| MYC Call - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Receive | 2.540 | 04/16/2026 | 100 | (1) | 0 |
| Put - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Pay | 2.920 | 04/16/2026 | 100 | 0 | 0 |
|  |  |  |  |  |  | $(3) | $(2) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) |

---

146 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - BUY PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| Counterparty | Index/Tranches | Fixed<br>(Pay) Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BRC | ABX.HE.AAA.7-1 Index « | (0.090)% | Monthly | 08/25/2037 | $42 | $31 | $(27) | $4 | $0 |
| GST | ABX.HE.AAA.7-1 Index « | (0.090) | Monthly | 08/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | 92 | (80) | 12 | 0 |
| MYI | ABX.HE.AAA.7-1 Index « | (0.090) | Monthly | 08/25/2037 | 207 | 0 | 19 | 19 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(3)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | Asset | Liability |
| JPM | ABX.HE.AAA.6-2 Index « | 0.110% | Monthly | 05/25/2046 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5378 | $(1512) | $1081 | $0 | $(430) |
| MYI | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 587 | 0 | 1 | 1 | 0 |
| SAL | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 392 | (11) | 12 | 1 | 0 |
| UAG | CMBX.NA.AAA.10 Index | 0.500 | Monthly | 11/17/2059 | 392 | (14) | 15 | 0 | 0 |
|  |  |  |  |  |  | $(1537) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109 | $2 | $(430) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1414) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(6)</sup> |
|  AZD | $19 | $0 | $0 | $19 | $0 | $0 | $0 | $0 | $19 | $0 | $19 |
|  BOA | 22 | 89 | 0 | 111 | (17) | (29) | 0 | (46) | 65 | 0 | 65 |
|  BPS | 29 | 0 | 0 | 29 | (78) | 0 | 0 | (78) | (49) | 0 | (49) |
|  BRC | 26 | 0 | 4 | 30 | (28) | 0 | 0 | (28) | 2 | (30) | (28) |
|  BSH | 22 | 0 | 0 | 22 | (114) | 0 | 0 | (114) | (92) | 0 | (92) |
|  CBK | 21 | 0 | 0 | 21 | (66) | 0 | 0 | (66) | (45) | 0 | (45) |
|  DUB | 46 | 15 | 0 | 61 | (15) | 0 | 0 | (15) | 46 | 0 | 46 |
|  FAR | 61 | 0 | 0 | 61 | (9) | 0 | 0 | (9) | 52 | 0 | 52 |
|  GLM | 103 | 0 | 0 | 103 | (247) | (2) | 0 | (249) | (146) | 0 | (146) |
|  GST | 0 | 0 | 12 | 12 | 0 | 0 | 0 | 0 | 12 | 0 | 12 |
|  IND | 90 | 0 | 0 | 90 | 0 | 0 | 0 | 0 | 90 | 0 | 90 |
|  JPM | 73 | 79 | 0 | 152 | (33) | 0 | (430) | (463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
|  MBC | 8 | 0 | 0 | 8 | (12) | 0 | 0 | (12) | (4) | 0 | (4) |
|  MYC | 0 | 198 | 0 | 198 | 0 | 0 | 0 | 0 | 198 | 0 | 198 |
|  MYI | 1 | 0 | 20 | 21 | 0 | (6) | 0 | (6) | 15 | 0 | 15 |
|  SAL | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
|  SCX | 49 | 0 | 0 | 49 | (17) | 0 | 0 | (17) | 32 | 0 | 32 |
|  SOG | 50 | 0 | 0 | 50 | (9) | 0 | 0 | (9) | 41 | 0 | 41 |
|  SSB | 10 | 0 | 0 | 10 | (1) | 0 | 0 | (1) | 9 | 0 | 9 |
|  UAG | 3 | 0 | 0 | 3 | (15) | 0 | 0 | (15) | (12) | 0 | (12) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(661) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1128) |  |  |  |

---

(k) Securities with an aggregate market value of $565 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **147** |

---

------

Schedule of Investments PIMCO Low Duration Opportunities Fund (Cont.)

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $54 | $54 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 4 | 0 | 0 | 172 | 176 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $4 | $0 | $0 | $226 | $230 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $633 | $0 | $633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 40 | 341 | 381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 37 | 0 | 0 | 0 | 37 |
|  | $0 | $37 | $0 | $673 | $341 | $1051 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $2 | $2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 81 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 5 | 0 | 0 | 50 | 55 |
|  | $0 | $5 | $0 | $0 | $133 | $138 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $661 | $0 | $661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 35 | 2 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 430 | 0 | 0 | 0 | 430 |
|  | $0 | $430 | $0 | $696 | $2 | $1128 |
|  | $0 | $435 | $0 | $696 | $135 | $1266 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $0 | $0 | $0 | $56 | $56 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (426) | (426) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (42) | 0 | 0 | 110 | 68 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $0 | $(260) | $(302) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1280) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130) | (127) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 1 | 0 | 8 | 258 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 43 | 0 | 0 | 0 | 43 |
|  | $0 | $44 | $0 | $(1269) | $128 | $(1097) |
|  | $0 | $2 | $0 | $(1269) | $(132) | $(1399) |

---

148 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $398 | $398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 54 | 0 | 0 | (77) | (23) |
|  | $0 | $54 | $0 | $0 | $321 | $375 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(19) | $0 | $(19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 13 | 83 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(119) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 21 | 0 | 0 | 0 | 21 |
|  | $0 | $21 | $0 | $(13) | $(29) | $(21) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | $292 | $354 |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at<br>03/31/2026** |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $463 | $0 | $463 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | 12667 | 0 | 12667 |
| &nbsp;&nbsp; Industrials | 0 | 7680 | 0 | 7680 |
| &nbsp;&nbsp; Utilities | 0 | 3143 | 0 | 3143 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; California | 0 | 189 | 0 | 189 |
|  U.S. Government Agencies | 0 | 49471 | 0 | 49471 |
|  U.S. Treasury Obligations | 0 | 10805 | 0 | 10805 |
|  Non-Agency Mortgage-Backed Securities | 0 | 1302 | 1035 | 2337 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; CMBS Other | 0 | 513 | 0 | 513 |
| &nbsp;&nbsp; Home Equity Other | 0 | 4226 | 0 | 4226 |
| &nbsp;&nbsp; Other ABS | 0 | 4975 | 0 | 4975 |
|  Sovereign Issues | 0 | 15528 | 0 | 15528 |
|  Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| &nbsp;&nbsp; Banking & Finance | 42 | 63 | 0 | 105 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Commercial Paper | 0 | 3341 | 0 | 3341 |
| &nbsp;&nbsp; Mutual Funds | 312 | 0 | 0 | 312 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 22800 | 0 | 22800 |
| &nbsp;&nbsp; Turkey Treasury Bills | 0 | 22 | 0 | 22 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137188 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138577 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at<br>03/31/2026** |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $26967 | $0 | $0 | $26967 |
|  Total Investments | $27321 | $137188 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165544 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(3543) | $0 | $(3543) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 16 | 204 | 0 | 220 |
|  Over the counter | 0 | 1016 | 35 | 1051 |
|  | $16 | $1220 | $35 | $1271 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (37) | (101) | 0 | (138) |
|  Over the counter | 0 | (698) | (430) | (1128) |
|  | $(37) | $(799) | $(430) | $(1266) |
|  Total Financial Derivative Instruments | $(21) | $421 | $(395) | $5 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134066 | $640 | $162006 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **149** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 116.9% | INVESTMENTS IN SECURITIES 116.9% | INVESTMENTS IN SECURITIES 116.9% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.4% |
|  Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC |
|  5.860% due 10/21/2026 «~(j) | 324 | 324 |
|  Databricks, Inc. | Databricks, Inc. | Databricks, Inc. |
|  1.000% due 01/05/2032 ~µ | 312 | 311 |
|  8.171% (TSFR1M + 4.500%) due 01/05/2032 ~ | 1334 | 1327 |
|  Electronic Arts, Inc. | Electronic Arts, Inc. | Electronic Arts, Inc. |
|  TBD% due 03/24/2033 | 1200 | 1194 |
|  Jane Street Group LLC | Jane Street Group LLC | Jane Street Group LLC |
|  5.673% (TSFR3M + 2.000%) due 12/15/2031 ~ | 1683 | 1654 |
|  Project Hudson II | Project Hudson II | Project Hudson II |
|  7.730% due 05/29/2026 «~ | 700 | 702 |
|  Quikrete Holdings, Inc. | Quikrete Holdings, Inc. | Quikrete Holdings, Inc. |
|  5.918% (TSFR1M + 2.250%) due 02/10/2032 ~ | 990 | 989 |
|  Total Loan Participations and Assignments (Cost $6,506) | Total Loan Participations and Assignments (Cost $6,506) | 6501 |
| CORPORATE BONDS & NOTES 18.9% | CORPORATE BONDS & NOTES 18.9% | CORPORATE BONDS & NOTES 18.9% |
| BANKING & FINANCE 9.8% | BANKING & FINANCE 9.8% | BANKING & FINANCE 9.8% |
|  123 Lights Re Ltd. | 123 Lights Re Ltd. | 123 Lights Re Ltd. |
|  14.510% (FHMMUSTF + 11.000%) due 09/14/2031 ~ | 250 | 258 |
|  AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
|  4.375% due 11/15/2030 | 3000 | 2949 |
|  4.750% due 01/15/2033 | 1000 | 972 |
|  Aircastle Ltd./Aircastle Ireland DAC | Aircastle Ltd./Aircastle Ireland DAC | Aircastle Ltd./Aircastle Ireland DAC |
|  5.000% due 09/15/2030 | 800 | 799 |
|  American Express Co. | American Express Co. | American Express Co. |
|  3.433% due 05/20/2032 •  | 1200 | 1368 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  5.800% due 11/15/2028 | 4300 | 4435 |
|  ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund |
|  4.850% due 01/15/2029 | 900 | 872 |
|  5.450% due 09/09/2028 | 1600 | 1584 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  3.024% (EUR003M + 1.000%) due 02/23/2027 ~ | 2600 | 3009 |
|  Avilease Capital Ltd. | Avilease Capital Ltd. | Avilease Capital Ltd. |
|  4.750% due 11/12/2030 | 600 | 584 |
|  Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
|  4.200% due 04/15/2029 | 900 | 883 |
|  4.950% due 10/15/2032 | 1500 | 1462 |
|  Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA | Banco Bilbao Vizcaya Argentaria SA |
|  5.127% due 03/03/2036 | 1400 | 1362 |
|  Banco BTG Pactual SA | Banco BTG Pactual SA | Banco BTG Pactual SA |
|  5.500% due 01/27/2031 | 1300 | 1257 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  5.552% due 03/14/2028 •  | 500 | 504 |
|  Bank Hapoalim BM | Bank Hapoalim BM | Bank Hapoalim BM |
|  4.722% due 07/14/2029 | 2400 | 2372 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.948% due 07/22/2028 •  | 700 | 705 |
|  5.162% due 01/24/2031 •  | 1400 | 1427 |
|  5.819% due 09/15/2029 •  | 2400 | 2476 |
|  Bank of Nova Scotia | Bank of Nova Scotia | Bank of Nova Scotia |
|  4.813% due 02/02/2034 •  | 2100 | 2071 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  4.521% due 02/24/2032 •  | 4500 | 4404 |
|  5.207% due 02/24/2037 •  | 1400 | 1355 |
|  Blackstone Reg Finance Co. LLC | Blackstone Reg Finance Co. LLC | Blackstone Reg Finance Co. LLC |
|  4.300% due 11/03/2030 | 1900 | 1871 |
|  Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund |
|  5.250% due 09/04/2029 | 1300 | 1275 |
|  BPCE SA | BPCE SA | BPCE SA |
|  4.760% due 01/13/2032 •  | 1900 | 1875 |
|  Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC |
|  5.000% due 11/01/2032 | 300 | 295 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Cape Lookout Re Ltd. | Cape Lookout Re Ltd. | Cape Lookout Re Ltd. |
|  10.410% (FHMMUSTF + 6.900%) due 03/13/2032 ~ | 850 | 887 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  4.722% due 01/30/2032 •  | 4200 | 4137 |
|  CFE Fibra E | CFE Fibra E | CFE Fibra E |
|  5.875% due 09/23/2040 | 887 | 864 |
|  Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC |
|  4.750% due 02/14/2029 | 1000 | 981 |
|  COPT Defense Properties LP | COPT Defense Properties LP | COPT Defense Properties LP |
|  4.500% due 10/15/2030 | 400 | 395 |
|  Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA | Credicorp Capital Sociedad Titulizadora SA |
|  9.700% due 03/05/2045 | 1100 | 336 |
|  10.100% due 12/15/2043 | 4900 | 1528 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  5.261% due 01/12/2037 •  | 1700 | 1664 |
|  7.250% due 09/23/2028 •(f)(h) | 800 | 970 |
|  DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. | DAE Sukuk Difc Ltd. |
|  4.500% due 10/16/2030 | 1800 | 1721 |
|  Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. | Dai-ichi Life Insurance Co. Ltd. |
|  6.200% due 01/16/2035 •(f) | 1800 | 1811 |
|  Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. | Equinix Asia Financing Corp. Pte. Ltd. |
|  4.400% due 03/15/2031 | 2200 | 2155 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.600% due 11/15/2030 | 2200 | 2180 |
|  F&G Global Funding | F&G Global Funding | F&G Global Funding |
|  5.875% due 01/16/2030 | 1000 | 1014 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  2.900% due 02/16/2028 | 400 | 384 |
|  2.900% due 02/10/2029 | 500 | 468 |
|  3.815% due 11/02/2027 | 900 | 882 |
|  4.125% due 08/17/2027 | 1800 | 1777 |
|  4.271% due 01/09/2027 | 600 | 597 |
|  4.950% due 05/28/2027 | 400 | 400 |
|  5.420% due 04/09/2031 | 1750 | 1719 |
|  5.800% due 03/08/2029 | 1000 | 1012 |
|  5.918% due 03/20/2028 | 900 | 912 |
|  6.800% due 05/12/2028 | 2600 | 2679 |
|  GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust |
|  4.500% due 09/18/2030 | 2250 | 2168 |
|  5.200% due 12/09/2031 | 1250 | 1225 |
|  5.500% due 04/01/2032 | 550 | 543 |
|  GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. |
|  5.625% due 03/01/2036 | 2700 | 2629 |
|  Golden Bear Re Ltd. | Golden Bear Re Ltd. | Golden Bear Re Ltd. |
|  13.162% (T-BILL 1MO + 9.500%) due 03/08/2032 ~ | 250 | 250 |
|  13.412% (JMMMUSTF + 9.750%) due 01/08/2029 ~ | 500 | 509 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  5.218% due 04/23/2031 •  | 1000 | 1017 |
|  Grand River Funding Trust II | Grand River Funding Trust II | Grand River Funding Trust II |
|  7.280% due 02/15/2056 | 1300 | 1361 |
|  HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
|  6.000% due 03/15/2036 | 400 | 388 |
|  Hardwood Funding LLC | Hardwood Funding LLC | Hardwood Funding LLC |
|  5.330% due 06/07/2035 «(j) | 600 | 606 |
|  HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
|  4.900% due 09/11/2028 | 200 | 195 |
|  5.300% due 06/05/2027 | 2100 | 2090 |
|  Integrity RE III Ltd. | Integrity RE III Ltd. | Integrity RE III Ltd. |
|  13.260% (FHMMUSTF + 9.750%) due 06/06/2027 ~ | 250 | 256 |
|  15.760% (FHMMUSTF + 12.250%) due 06/06/2028 ~ | 250 | 260 |
|  29.010% (FHMMUSTF + 25.500%) due 06/06/2027 ~ | 250 | 275 |
|  Intesa Sanpaolo SpA | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |
|  6.375% due 03/30/2028 •(f)(h) | 1800 | 2123 |
|  Jackson National Life Global Funding | Jackson National Life Global Funding | Jackson National Life Global Funding |
|  4.638% (SOFRRATE + 0.970%) due 01/14/2028 ~ | 500 | 499 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  5.103% due 04/22/2031 •  | 5950 | 6059 |
|  5.140% due 01/24/2031 •  | 2000 | 2037 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. | Kizuna RE III Pte. Ltd. |
|  6.412% (T-BILL 3MO + 2.750%) due 04/09/2029 ~ | 250 | 254 |
|  Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. |
|  5.500% due 08/01/2030 | 200 | 201 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  4.425% due 11/04/2031 •  | 900 | 888 |
|  4.716% (SOFRINDX + 1.060%) due 11/26/2028 ~ | 800 | 804 |
|  Locke Tavern Re Ltd. | Locke Tavern Re Ltd. | Locke Tavern Re Ltd. |
|  4.060% (JMMMUSTF + 3.250%) due 04/11/2033 ~ | 250 | 250 |
|  4.060% (JMMMUSTF + 4.250%) due 04/11/2033 ~ | 250 | 250 |
|  Met Tower Global Funding | Met Tower Global Funding | Met Tower Global Funding |
|  4.200% due 09/16/2030 | 1200 | 1180 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  4.210% due 04/20/2028 •  | 941 | 939 |
|  4.708% due 03/12/2032 •  | 3200 | 3179 |
|  5.123% due 02/01/2029 •  | 2648 | 2678 |
|  5.664% due 04/17/2036 •  | 1580 | 1619 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |
|  4.465% due 11/19/2031 •  | 5000 | 4924 |
|  4.734% due 07/18/2031 •  | 2000 | 1994 |
|  National Health Investors, Inc. | National Health Investors, Inc. | National Health Investors, Inc. |
|  5.350% due 02/01/2033 | 300 | 295 |
|  NatWest Group PLC | NatWest Group PLC | NatWest Group PLC |
|  3.073% due 05/22/2028 •  | 200 | 197 |
|  NatWest Markets PLC | NatWest Markets PLC | NatWest Markets PLC |
|  4.789% due 03/21/2028 | 1800 | 1813 |
|  4.836% (SOFRRATE + 1.190%) due 03/21/2030 ~ | 500 | 505 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |
|  1.850% due 09/16/2026 | 3800 | 3737 |
|  Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. |
|  4.904% due 07/01/2030 | 400 | 400 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  4.674% due 09/09/2030 | 500 | 496 |
|  4.683% due 03/10/2031 | 800 | 791 |
|  5.359% due 09/09/2035 (k) | 400 | 398 |
|  OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
|  6.750% due 09/15/2033 | 700 | 672 |
|  Orange Capital RE DAC | Orange Capital RE DAC | Orange Capital RE DAC |
|  8.026% (EUR003M + 6.000%) due 01/17/2029 ~ | 250 | 304 |
|  Polestar Re Ltd. | Polestar Re Ltd. | Polestar Re Ltd. |
|  14.150% (BRMMUSDF + 10.590%) due 01/07/2028 ~ | 400 | 419 |
|  16.810% (BRMMUSDF + 13.250%) due 01/07/2027 ~ | 900 | 931 |
|  Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP |
|  4.250% due 01/15/2031 | 700 | 685 |
|  4.625% due 03/15/2033 | 600 | 584 |
|  Protective Life Corp. | Protective Life Corp. | Protective Life Corp. |
|  4.700% due 01/15/2031 | 300 | 297 |
|  Quercus II Re DAC | Quercus II Re DAC | Quercus II Re DAC |
|  13.079% (EUR003M + 11.000%) due 01/07/2031 ~ | 250 | 289 |
|  Quercus Re DAC | Quercus Re DAC | Quercus Re DAC |
|  10.020% (EUR003M + 8.000%) due 07/08/2027 ~ | 250 | 299 |
|  Regency Centers LP | Regency Centers LP | Regency Centers LP |
|  4.500% due 03/15/2033 | 400 | 390 |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |
|  4.600% due 11/25/2030 | 1300 | 1287 |
|  Sammons Financial Group Global Funding | Sammons Financial Group Global Funding | Sammons Financial Group Global Funding |
|  4.800% due 12/12/2030 | 2400 | 2382 |
|  Sanders Re III Ltd. | Sanders Re III Ltd. | Sanders Re III Ltd. |
|  15.880% (BRMMUSDF + 12.320%) due 04/09/2029 ~ | 2600 | 1690 |
|  Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. |
|  5.353% due 09/06/2030 •  | 300 | 303 |
|  5.473% due 03/20/2029 •  | 2600 | 2637 |

---

---

| | | |
|:---|:---|:---|
| **150** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  4.320% due 09/22/2029 •  | $| 2000 | 1982 |
|  6.534% due 01/10/2029 •  |  | 400 | 413 |
|  Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |
|  6.500% due 03/11/2029 |  | 600 | 608 |
|  Societe Generale SA | Societe Generale SA | Societe Generale SA | Societe Generale SA |
|  4.450% due 04/12/2030 •  |  | 1200 | 1188 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |
|  6.750% due 02/08/2028 •  |  | 500 | 509 |
|  State Street Corp. | State Street Corp. | State Street Corp. | State Street Corp. |
|  4.784% due 10/23/2036 •  |  | 1600 | 1556 |
|  Store Capital LLC | Store Capital LLC | Store Capital LLC | Store Capital LLC |
|  4.950% due 02/11/2031 |  | 400 | 397 |
|  Synchrony Financial | Synchrony Financial | Synchrony Financial | Synchrony Financial |
|  4.947% due 02/25/2032 •  |  | 1200 | 1165 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.500% due 03/24/2029 |  | 2600 | 2584 |
|  Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. | Torrey Pines Re Ltd. |
|  9.596% (JMMMUSTF + 6.036%) due 06/07/2027 ~ |  | 300 | 310 |
|  Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. | Tremont Re Ltd. |
|  7.661% (T-BILL 1MO + 4.000%) due 03/22/2033 ~ |  | 250 | 250 |
|  U.S. Bancorp | U.S. Bancorp | U.S. Bancorp | U.S. Bancorp |
|  5.046% due 02/12/2031 •  |  | 3000 | 3045 |
|  UBS Group AG | UBS Group AG | UBS Group AG | UBS Group AG |
|  3.126% due 08/13/2030 •  |  | 400 | 381 |
|  3.869% due 01/12/2029 •  |  | 1600 | 1582 |
|  4.214% due 04/10/2030 •  |  | 3800 | 3753 |
|  5.428% due 02/08/2030 •  |  | 700 | 715 |
|  5.617% due 09/13/2030 •  |  | 1100 | 1134 |
|  Ursa Re Ltd. | Ursa Re Ltd. | Ursa Re Ltd. | Ursa Re Ltd. |
|  9.040% (BNMMDTSC + 5.500%) due 12/07/2026 ~ |  | 1100 | 1116 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP | VICI Properties LP |
|  5.125% due 11/15/2031 |  | 900 | 894 |
|  5.625% due 04/01/2035 |  | 1100 | 1095 |
|  Vitality Re XVI Ltd. | Vitality Re XVI Ltd. | Vitality Re XVI Ltd. | Vitality Re XVI Ltd. |
|  5.280% (MSMMUSTF + 1.750%) due 01/08/2030 ~ |  | 250 | 249 |
|  7.280% (MSMMUSTF + 3.750%) due 01/08/2030 ~ |  | 250 | 249 |
|  Vitality Re XVII Ltd. | Vitality Re XVII Ltd. | Vitality Re XVII Ltd. | Vitality Re XVII Ltd. |
|  5.541% (GSMMUSTI + 2.000%) due 01/08/2031 ~ |  | 450 | 450 |
|  5.941% (GSMMUSTI + 2.400%) due 01/08/2031 ~ |  | 250 | 250 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  3.526% due 03/24/2028 •  |  | 3500 | 3472 |
|  Windmill III Re DAC | Windmill III Re DAC | Windmill III Re DAC | Windmill III Re DAC |
|  7.236% (EUR003M + 5.210%) due 07/05/2028 ~ | EUR | 250 | 299 |
|  Windrose Re Ltd. | Windrose Re Ltd. | Windrose Re Ltd. | Windrose Re Ltd. |
|  8.790% (HSMMUSTF + 5.250%) due 02/11/2033 ~ | $| 250 | 249 |
|  Winston RE Ltd. | Winston RE Ltd. | Winston RE Ltd. | Winston RE Ltd. |
|  15.230% (BNMMDTSC + 11.690%) due 02/26/2031 ~ |  | 700 | 731 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  3.250% due 10/02/2031 | EUR | 500 | 558 |
|  Zions Bancorp NA | Zions Bancorp NA | Zions Bancorp NA | Zions Bancorp NA |
|  4.483% due 02/09/2029 •  | $| 1100 | 1092 |
|  |  |  | 171624 |
| INDUSTRIALS 5.6% | INDUSTRIALS 5.6% | INDUSTRIALS 5.6% | INDUSTRIALS 5.6% |
|  Abbott Laboratories | Abbott Laboratories | Abbott Laboratories | Abbott Laboratories |
|  4.650% due 03/15/2036 |  | 400 | 391 |
|  AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
|  4.125% due 03/15/2031 |  | 1000 | 986 |
|  Air Canada Pass-Through Trust | Air Canada Pass-Through Trust | Air Canada Pass-Through Trust | Air Canada Pass-Through Trust |
|  3.300% due 07/15/2031 |  | 185 | 177 |
|  Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
|  3.500% due 11/06/2038 | EUR | 500 | 548 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
|  4.550% due 03/13/2033 | 3200 | 3170 |
|  Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. |
|  4.800% due 03/17/2028 | 1600 | 1611 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.375% due 11/01/2028 | 190 | 187 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  4.850% due 02/19/2036 | 1800 | 1769 |
|  Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |
|  3.226% due 03/11/2030 | 500 | 573 |
|  3.812% due 03/11/2034 | 500 | 572 |
|  4.650% due 06/15/2033 | 1100 | 1083 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 17850 | 18366 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  4.650% due 03/19/2027 | 2000 | 2009 |
|  Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
|  2.450% due 02/15/2031 | 1368 | 1243 |
|  3.137% due 11/15/2035 | 831 | 706 |
|  3.419% due 04/15/2033 | 3759 | 3439 |
|  Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. |
|  5.000% due 12/15/2029 | 800 | 813 |
|  Carnival Corp. | Carnival Corp. | Carnival Corp. |
|  5.125% due 05/01/2029 | 800 | 795 |
|  Cencora, Inc. | Cencora, Inc. | Cencora, Inc. |
|  3.625% due 05/22/2032 | 700 | 801 |
|  Cenovus Energy, Inc. | Cenovus Energy, Inc. | Cenovus Energy, Inc. |
|  4.650% due 03/20/2031 | 700 | 695 |
|  Centene Corp. | Centene Corp. | Centene Corp. |
|  2.450% due 07/15/2028 | 1800 | 1677 |
|  2.625% due 08/01/2031 | 100 | 84 |
|  Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. |
|  5.200% due 07/30/2036 | 1800 | 1782 |
|  Clydesdale Acquisition Holdings, Inc. | Clydesdale Acquisition Holdings, Inc. | Clydesdale Acquisition Holdings, Inc. |
|  6.750% due 04/15/2032 | 550 | 521 |
|  CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
|  4.352% due 09/01/2030 | 1500 | 1479 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  4.800% due 05/01/2030 | 1000 | 1006 |
|  Corp. Nacional del Cobre de Chile | Corp. Nacional del Cobre de Chile | Corp. Nacional del Cobre de Chile |
|  6.330% due 01/13/2035 | 500 | 522 |
|  Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |
|  5.600% due 01/15/2031 | 700 | 678 |
|  Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC |
|  4.500% due 04/12/2031 | 700 | 687 |
|  Eastman Chemical Co. | Eastman Chemical Co. | Eastman Chemical Co. |
|  4.500% due 02/20/2031 | 700 | 685 |
|  Embraer Netherlands Finance BV | Embraer Netherlands Finance BV | Embraer Netherlands Finance BV |
|  5.980% due 02/11/2035 | 750 | 775 |
|  Eni SpA | Eni SpA | Eni SpA |
|  5.750% due 05/19/2035 | 800 | 830 |
|  Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
|  4.900% due 04/15/2036 | 1600 | 1561 |
|  5.650% due 04/15/2056 | 2400 | 2307 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 | 1300 | 1278 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.450% due 03/10/2028 | 900 | 898 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  4.500% due 11/15/2028 | 1200 | 1189 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  4.600% due 11/15/2032 | 2400 | 2335 |
|  5.450% due 04/01/2031 | 1400 | 1435 |
|  5.450% due 09/15/2034 | 800 | 808 |
|  Heathrow Funding Ltd. | Heathrow Funding Ltd. | Heathrow Funding Ltd. |
|  6.450% due 12/10/2033 | 100 | 138 |
|  Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV | Imperial Brands Finance Netherlands BV |
|  5.250% due 02/15/2031 | 2400 | 2928 |
|  Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA | Intralot Capital Luxembourg SA |
|  6.513% due 10/15/2031 •  | 1300 | 1439 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. |
|  5.850% due 06/01/2035 | $| 2800 | 2935 |
|  Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. |
|  5.625% due 06/15/2028 |  | 5900 | 5978 |
|  Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. |
|  4.750% due 03/26/2029 |  | 1400 | 1400 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  4.500% due 05/01/2033 |  | 700 | 677 |
|  Mattel, Inc. | Mattel, Inc. | Mattel, Inc. | Mattel, Inc. |
|  5.000% due 11/17/2030 |  | 350 | 348 |
|  Medtronic, Inc. | Medtronic, Inc. | Medtronic, Inc. | Medtronic, Inc. |
|  2.950% due 10/15/2030 | EUR | 200 | 227 |
|  4.200% due 10/15/2045 |  | 300 | 332 |
|  Miller Homes Group Finco PLC | Miller Homes Group Finco PLC | Miller Homes Group Finco PLC | Miller Homes Group Finco PLC |
|  6.234% due 10/15/2030 •  |  | 1000 | 1144 |
|  National Football League | National Football League | National Football League | National Football League |
|  4.780% due 10/05/2030 «(j) | $| 2000 | 1991 |
|  5.250% due 10/05/2034 «(j) |  | 1700 | 1696 |
|  O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. |
|  5.100% due 03/12/2036 |  | 300 | 296 |
|  PeaceHealth Obligated Group | PeaceHealth Obligated Group | PeaceHealth Obligated Group | PeaceHealth Obligated Group |
|  4.335% due 11/15/2028 |  | 700 | 697 |
|  Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. |
|  3.250% due 06/06/2032 | EUR | 1700 | 1911 |
|  4.250% due 10/29/2032 | $| 300 | 291 |
|  Post Holdings, Inc. | Post Holdings, Inc. | Post Holdings, Inc. | Post Holdings, Inc. |
|  6.500% due 03/15/2036 |  | 1200 | 1176 |
|  Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. |
|  5.750% due 11/13/2035 |  | 500 | 502 |
|  TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. |
|  4.300% due 01/17/2029 |  | 1100 | 1088 |
|  Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV |
|  5.750% due 12/01/2030 |  | 640 | 649 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 |  | 293 | 269 |
|  3.500% due 09/01/2031 |  | 124 | 121 |
|  Var Energi ASA | Var Energi ASA | Var Energi ASA | Var Energi ASA |
|  5.875% due 05/22/2030 |  | 1900 | 1962 |
|  Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC | Venture Global Plaquemines LNG LLC |
|  6.750% due 01/15/2036 |  | 500 | 530 |
|  Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC |
|  5.700% due 08/01/2035 |  | 1000 | 1008 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  6.750% due 01/15/2033 (k) |  | 1000 | 895 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.450% due 09/11/2027 |  | 700 | 698 |
|  5.050% due 03/27/2028 |  | 300 | 302 |
|  WESCO Distribution, Inc. | WESCO Distribution, Inc. | WESCO Distribution, Inc. | WESCO Distribution, Inc. |
|  5.250% due 04/15/2031 |  | 300 | 299 |
|  Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
|  5.100% due 09/12/2034 |  | 1000 | 985 |
|  5.700% due 05/19/2032 |  | 900 | 934 |
|  |  |  | 98317 |
| UTILITIES 3.5% | UTILITIES 3.5% | UTILITIES 3.5% | UTILITIES 3.5% |
|  AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
|  3.950% due 06/01/2028 |  | 1800 | 1783 |
|  5.200% due 04/15/2036 |  | 400 | 394 |
|  AES Corp. | AES Corp. | AES Corp. | AES Corp. |
|  5.450% due 06/01/2028 |  | 1250 | 1262 |
|  AT&T, Inc. | AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
|  4.750% due 04/30/2033 |  | 900 | 892 |
|  Black Hills Corp. | Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
|  4.550% due 01/31/2031 |  | 700 | 693 |
|  Brooklyn Union Gas Co. | Brooklyn Union Gas Co. | Brooklyn Union Gas Co. | Brooklyn Union Gas Co. |
|  6.415% due 07/18/2054 |  | 1200 | 1221 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  4.850% due 04/01/2036 |  | 800 | 784 |
|  Chile Electricity Lux MPC II SARL | Chile Electricity Lux MPC II SARL | Chile Electricity Lux MPC II SARL | Chile Electricity Lux MPC II SARL |
|  5.672% due 10/20/2035 |  | 1068 | 1079 |
|  Cleco Power LLC | Cleco Power LLC | Cleco Power LLC | Cleco Power LLC |
|  5.300% due 01/15/2036 |  | 500 | 496 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **151** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  5.875% due 01/15/2066 | $| 1000 | 961 |
|  DTE Electric Co. | DTE Electric Co. | DTE Electric Co. | DTE Electric Co. |
|  4.850% due 03/01/2036 |  | 1100 | 1080 |
|  Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC |
|  2.400% due 12/15/2031 |  | 530 | 474 |
|  Edison International | Edison International | Edison International | Edison International |
|  5.250% due 03/15/2032 |  | 300 | 297 |
|  6.250% due 03/15/2030 |  | 4600 | 4769 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  1.625% due 07/12/2026 |  | 1506 | 1495 |
|  Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
|  4.450% due 12/15/2030 |  | 800 | 789 |
|  Genesis Energy LP/Genesis Energy Finance Corp. | Genesis Energy LP/Genesis Energy Finance Corp. | Genesis Energy LP/Genesis Energy Finance Corp. | Genesis Energy LP/Genesis Energy Finance Corp. |
|  6.750% due 03/15/2034 |  | 400 | 398 |
|  NBN Co. Ltd. | NBN Co. Ltd. | NBN Co. Ltd. | NBN Co. Ltd. |
|  4.150% due 09/16/2030 |  | 600 | 593 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  3.830% due 06/12/2030 | CAD | 2000 | 1438 |
|  4.670% due 06/12/2035 |  | 2000 | 1446 |
|  Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. |
|  5.112% due 01/12/2036 | $| 2400 | 2361 |
|  Nova Securitisation SARL | Nova Securitisation SARL | Nova Securitisation SARL | Nova Securitisation SARL |
|  5.750% due 02/03/2031 |  | 2400 | 2325 |
|  6.500% due 02/03/2036 |  | 1700 | 1619 |
|  NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. |
|  4.734% due 10/15/2030 |  | 1900 | 1883 |
|  Orange SA | Orange SA | Orange SA | Orange SA |
|  4.250% due 01/13/2031 |  | 2100 | 2061 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  5.200% due 05/01/2036 |  | 3250 | 3169 |
|  6.000% due 08/15/2035 |  | 500 | 517 |
|  6.100% due 01/15/2029 |  | 1350 | 1397 |
|  6.400% due 06/15/2033 |  | 5900 | 6265 |
|  PacifiCorp | PacifiCorp | PacifiCorp | PacifiCorp |
|  7.375% due 09/15/2055 •  |  | 900 | 861 |
|  Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |
|  5.450% due 02/03/2036 |  | 700 | 670 |
|  Pinnacle West Capital Corp. | Pinnacle West Capital Corp. | Pinnacle West Capital Corp. | Pinnacle West Capital Corp. |
|  4.900% due 05/15/2028 |  | 1000 | 1008 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  5.150% due 09/15/2035 |  | 3700 | 3690 |
|  RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC |
|  5.125% due 09/18/2035 |  | 300 | 292 |
|  SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC |
|  5.341% due 03/15/2047 |  | 1600 | 1590 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  4.900% due 06/01/2026 |  | 1200 | 1198 |
|  5.150% due 06/01/2029 |  | 1300 | 1319 |
|  5.250% due 03/15/2030 |  | 1200 | 1219 |
|  Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. |
|  5.200% due 04/01/2036 |  | 900 | 885 |
|  Trans-Allegheny Interstate Line Co. | Trans-Allegheny Interstate Line Co. | Trans-Allegheny Interstate Line Co. | Trans-Allegheny Interstate Line Co. |
|  5.000% due 01/15/2031 |  | 2000 | 2033 |
|  Virginia Electric & Power Co. | Virginia Electric & Power Co. | Virginia Electric & Power Co. | Virginia Electric & Power Co. |
|  4.950% due 03/15/2036 |  | 2700 | 2633 |
|  Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC |
|  4.700% due 01/31/2031 |  | 800 | 788 |
|  |  |  | 62127 |
|  Total Corporate Bonds & Notes<br>(Cost $332,875) | Total Corporate Bonds & Notes<br>(Cost $332,875) | Total Corporate Bonds & Notes<br>(Cost $332,875) | 332068 |
| MUNICIPAL BONDS & NOTES 0.0% | MUNICIPAL BONDS & NOTES 0.0% | MUNICIPAL BONDS & NOTES 0.0% | MUNICIPAL BONDS & NOTES 0.0% |
| CALIFORNIA 0.0% | CALIFORNIA 0.0% | CALIFORNIA 0.0% | CALIFORNIA 0.0% |
|  Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 | Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021 |
|  4.214% due 06/01/2050 |  | 200 | 152 |
|  Total Municipal Bonds & Notes<br>(Cost $149) | Total Municipal Bonds & Notes<br>(Cost $149) | Total Municipal Bonds & Notes<br>(Cost $149) | 152 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. GOVERNMENT AGENCIES 21.5% | U.S. GOVERNMENT AGENCIES 21.5% | U.S. GOVERNMENT AGENCIES 21.5% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  3.500% due 08/01/2049 | 278 | 257 |
|  4.000% due 10/01/2047 - 04/01/2053 | 4358 | 4131 |
|  4.500% due 11/01/2029 - 07/01/2033 | 314 | 314 |
|  5.000% due 10/01/2033 - 06/01/2053 | 11172 | 11074 |
|  5.500% due 12/01/2033 - 12/01/2053 | 15649 | 15763 |
|  6.000% due 02/01/2033 - 11/01/2037 | 31 | 32 |
|  6.494% due 05/01/2035 •  | 3 | 3 |
|  6.500% due 10/01/2036 - 02/01/2054 | 1145 | 1184 |
|  6.835% due 05/01/2037 •  | 3 | 3 |
|  7.000% due 01/01/2033 | 1 | 1 |
|  Federal Home Loan Mortgage Corp. Multiclass Certificates | Federal Home Loan Mortgage Corp. Multiclass Certificates | Federal Home Loan Mortgage Corp. Multiclass Certificates |
|  4.616% due 09/25/2033 ~ | 2600 | 2616 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ | 2982 | 2898 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.287% due 10/15/2040 •  | 583 | 579 |
|  4.387% due 12/15/2037 •  | 26 | 26 |
|  4.612% due 04/25/2055 •  | 1733 | 1745 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  6.500% due 07/25/2043 | 1 | 1 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  3.500% due 05/01/2049 - 07/01/2053 | 706 | 652 |
|  4.000% due 03/01/2029 - 04/01/2053 | 9366 | 8889 |
|  4.500% due 01/01/2027 - 01/01/2053 | 1731 | 1680 |
|  5.000% due 07/01/2029 - 05/01/2053 | 17154 | 17009 |
|  5.114% due 10/01/2044 •  | 6 | 6 |
|  5.383% due 03/01/2034 •  | 2 | 3 |
|  5.500% due 12/01/2032 - 10/01/2053 | 2955 | 3016 |
|  5.950% due 02/01/2037 •  | 2 | 2 |
|  5.954% due 02/01/2035 •  | 2 | 2 |
|  6.000% due 12/01/2028 - 10/01/2040 | 109 | 115 |
|  6.190% due 10/01/2037 •  | 1 | 1 |
|  6.265% due 05/01/2037 •  | 4 | 4 |
|  6.383% due 05/01/2038 •  | 306 | 318 |
|  6.405% due 06/01/2035 •  | 134 | 138 |
|  6.500% due 03/01/2029 - 02/01/2054 | 1412 | 1462 |
|  6.618% due 06/01/2036 •  | 3 | 3 |
|  7.000% due 09/01/2031 | 1 | 1 |
|  7.500% due 01/01/2031 - 08/01/2032 | 1 | 0 |
|  8.000% due 08/01/2031 | 0 | 1 |
|  Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust |
|  7.500% due 07/25/2041 | 1 | 2 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.842% due 07/25/2037 •  | 48 | 47 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  4.668% due 12/25/2042 ~ | 42 | 41 |
|  6.500% due 07/25/2034 | 6351 | 6656 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  6.500% due 06/25/2044 | 10 | 10 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) | 20222 | 923 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  3.000% due 10/20/2055 | 498 | 445 |
|  3.500% due 10/15/2047 | 396 | 366 |
|  4.000% due 06/20/2048 | 1229 | 1158 |
|  4.500% due 08/20/2048 - 12/20/2053 | 10374 | 10076 |
|  5.000% due 11/20/2049 | 222 | 224 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.375% due 07/20/2034 •  | 5 | 5 |
|  5.625% due 03/20/2028 - 11/20/2034 •  | 6 | 7 |
|  6.500% due 01/20/2034 - 08/20/2034 | 4 | 3 |
|  7.000% due 07/15/2031 - 12/15/2032 | 3 | 2 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.247% due 04/20/2065 •  | 201 | 201 |
|  4.383% due 08/20/2065 •  | 494 | 495 |
|  5.227% due 06/20/2067 •  | 381 | 387 |
|  5.750% due 08/20/2037 | 11 | 10 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  3.000% due 04/01/2056 | 30000 | 26787 |
|  4.000% due 04/01/2056 - 05/01/2056 | 39000 | 36516 |
|  5.000% due 05/01/2056 | 4300 | 4250 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  4.375% due 08/01/2034 | 5400 | 5429 |
|  4.875% due 05/15/2035 | 9900 | 10185 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  3.000% due 04/01/2056 | 100 | 88 |
|  3.500% due 04/01/2056 | 6600 | 6051 |
|  4.000% due 04/01/2056 - 06/01/2056 | 49800 | 46981 |
|  4.500% due 05/01/2056 | 7300 | 7039 |
|  5.000% due 04/01/2056 - 05/01/2056 | 62800 | 61886 |
|  6.000% due 06/01/2056 - 07/01/2056 | 77000 | 78368 |
|  Total U.S. Government Agencies<br>(Cost $376,679) | Total U.S. Government Agencies<br>(Cost $376,679) | 378567 |
| U.S. TREASURY OBLIGATIONS 54.2% | U.S. TREASURY OBLIGATIONS 54.2% | U.S. TREASURY OBLIGATIONS 54.2% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.375% due 11/15/2040 | 14600 | 9409 |
|  1.875% due 02/15/2041 (k) | 4000 | 2773 |
|  2.250% due 08/15/2049 | 56700 | 35280 |
|  2.750% due 11/15/2047 | 18100 | 12772 |
|  3.000% due 02/15/2047 | 8900 | 6634 |
|  3.000% due 05/15/2047 | 27200 | 20224 |
|  3.000% due 08/15/2048 | 14600 | 10719 |
|  3.250% due 05/15/2042 | 12000 | 9891 |
|  3.375% due 08/15/2042 (k) | 78200 | 65349 |
|  3.375% due 11/15/2048 (k) | 73700 | 57777 |
|  4.000% due 11/15/2042 | 4900 | 4435 |
|  4.125% due 08/15/2044 | 32300 | 29313 |
|  4.375% due 08/15/2043 | 22700 | 21433 |
|  4.500% due 02/15/2044 | 5100 | 4879 |
|  4.625% due 05/15/2044 | 31700 | 30753 |
|  4.625% due 11/15/2044 (k) | 23200 | 22454 |
|  4.625% due 02/15/2055 (k) | 31700 | 30243 |
|  4.875% due 08/15/2045 (k) | 3400 | 3390 |
|  U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) |
|  0.125% due 01/15/2032 (m) | 15956 | 14689 |
|  0.625% due 07/15/2032 | 19364 | 18276 |
|  1.125% due 01/15/2033 | 21410 | 20628 |
|  1.750% due 01/15/2034 | 35231 | 35095 |
|  1.875% due 07/15/2034 (k) | 2280 | 2292 |
|  2.125% due 01/15/2035 (k) | 4122 | 4193 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  1.250% due 04/30/2028 | 19200 | 18223 |
|  1.250% due 09/30/2028 | 19200 | 18034 |
|  1.500% due 11/30/2028 | 31400 | 29572 |
|  2.375% due 03/31/2029 | 37200 | 35682 |
|  2.875% due 08/15/2028 | 19700 | 19288 |
|  3.250% due 06/30/2029 | 31400 | 30835 |
|  3.500% due 04/30/2028 | 32700 | 32497 |
|  3.625% due 03/31/2030 (m)(o) | 10400 | 10294 |
|  3.750% due 05/31/2030 | 10400 | 10338 |
|  3.750% due 06/30/2030 | 23100 | 22955 |
|  3.875% due 09/30/2029 (k) | 81000 | 81021 |
|  4.000% due 06/30/2028 | 13300 | 13358 |
|  4.000% due 02/15/2034 (o) | 7800 | 7695 |
|  4.125% due 07/31/2028 (m)(o) | 13900 | 13997 |
|  4.125% due 08/31/2030 | 24300 | 24491 |
|  4.375% due 11/30/2030 | 29600 | 30140 |
|  4.625% due 09/30/2028 | 32600 | 33228 |

---

---

| | | |
|:---|:---|:---|
| **152** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.625% due 09/30/2030 | $— | 14700 | 15120 |
|  4.875% due 10/31/2028 |  | 18600 | 19077 |
|  4.875% due 10/31/2030 (o) |  | 14700 | 15275 |
|  Total U.S. Treasury Obligations (Cost $971,002) | Total U.S. Treasury Obligations (Cost $971,002) | Total U.S. Treasury Obligations (Cost $971,002) | 954021 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 4.6% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.6% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.6% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.6% |
|  Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust |
|  4.760% due 10/25/2035 ~ |  | 2 | 2 |
|  Angel Oak Mortgage Trust | Angel Oak Mortgage Trust | Angel Oak Mortgage Trust | Angel Oak Mortgage Trust |
|  1.820% due 11/25/2066 ~ |  | 2020 | 1810 |
|  BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust |
|  2.627% due 01/15/2032 |  | 1600 | 1460 |
|  2.848% due 08/14/2034 |  | 2000 | 1677 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  5.243% due 05/25/2035 ~ |  | 483 | 465 |
|  5.710% due 02/20/2036 ~ |  | 31 | 30 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  5.281% due 02/25/2034 ~ |  | 9 | 9 |
|  Bank | Bank | Bank | Bank |
|  3.071% due 08/15/2061 |  | 2028 | 1990 |
|  5.635% due 03/15/2058 |  | 763 | 795 |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  4.534% due 09/15/2058 |  | 5000 | 4976 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.718% due 09/25/2035 ~ |  | 141 | 74 |
|  4.902% due 10/25/2035 ~ |  | 539 | 449 |
|  5.158% due 05/25/2035 ~ |  | 185 | 179 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  4.819% due 07/25/2034 ~ |  | 8 | 8 |
|  4.991% due 01/25/2035 ~ |  | 8 | 7 |
|  5.561% due 02/25/2034 ~ |  | 7 | 7 |
|  6.000% due 04/25/2033 ~ |  | 2 | 2 |
|  6.122% due 10/25/2036 ~ |  | 36 | 36 |
|  BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
|  5.187% due 07/15/2058 |  | 3600 | 3660 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  4.531% due 03/25/2037 ~ |  | 171 | 160 |
|  6.000% due 02/25/2037 ~ |  | 39 | 38 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.373% due 04/25/2035 •  |  | 3 | 3 |
|  4.787% due 11/25/2034 ~ |  | 106 | 103 |
|  5.023% due 02/20/2035 ~ |  | 10 | 10 |
|  6.116% due 03/25/2034 ~ |  | 226 | 227 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  5.750% due 09/25/2035 •  |  | 207 | 212 |
|  6.033% due 03/25/2034 ~ |  | 7 | 7 |
|  CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust | CitiMortgage Alternative Loan Trust |
|  4.443% due 12/25/2036 •  |  | 748 | 615 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  4.333% due 08/25/2035 •  |  | 1735 | 887 |
|  4.859% due 12/25/2035 •  |  | 15 | 14 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  4.459% due 03/25/2032 ~ |  | 4 | 4 |
|  Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust |
|  4.193% due 06/25/2037 •  |  | 2444 | 2203 |
|  Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC |
|  4.015% due 06/15/2044 •  |  | 41 | 55 |
|  GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust |
|  2.500% due 09/25/2052 ~ | $— | 2791 | 2328 |
|  GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
|  3.000% due 09/25/2052 ~ |  | 3163 | 2747 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  4.860% due 09/25/2035 ~ |  | 111 | 107 |
|  IndyMac ARM Trust | IndyMac ARM Trust | IndyMac ARM Trust | IndyMac ARM Trust |
|  5.717% due 01/25/2032 ~ |  | 8 | 8 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  4.293% due 02/25/2037 •  |  | 4105 | 2715 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  3.916% due 06/10/2042 ~ |  | 3500 | 3232 |
|  4.770% due 02/15/2035 •  |  | 2493 | 2463 |
|  5.170% due 12/15/2031 •  |  | 1268 | 1266 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  5.235% due 02/25/2034 ~ | 6 | 6 |
|  MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust |
|  8.000% due 07/25/2035 | 69 | 46 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust | Mellon Residential Funding Corp. Mortgage Pass-Through Trust |
|  4.647% due 08/15/2032 •  | 12 | 12 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  5.634% due 06/25/2036 ~ | 23 | 23 |
|  MortgageIT Trust | MortgageIT Trust | MortgageIT Trust |
|  4.353% due 10/25/2035 •  | 50 | 50 |
|  OBX Trust | OBX Trust | OBX Trust |
|  3.000% due 01/25/2052 ~ | 2958 | 2565 |
|  One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust |
|  4.737% due 01/15/2036 •  | 2832 | 2735 |
|  Prime Mortgage Trust | Prime Mortgage Trust | Prime Mortgage Trust |
|  4.193% due 02/25/2034 •  | 8 | 7 |
|  Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(b) | 26500 | 18284 |
|  Resloc U.K. PLC | Resloc U.K. PLC | Resloc U.K. PLC |
|  4.025% due 12/15/2043 •  | 481 | 622 |
|  RFMSI Trust | RFMSI Trust | RFMSI Trust |
|  4.747% due 09/25/2035 ~ | 203 | 165 |
|  5.398% due 09/25/2035 ~ | 124 | 77 |
|  SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
|  4.937% due 05/15/2038 •  | 4200 | 4196 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.026% due 02/25/2037 ~ | 802 | 524 |
|  5.550% due 07/25/2034 ~ | 32 | 32 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.291% due 07/19/2035 •  | 55 | 54 |
|  5.493% due 05/25/2047 •  | 3774 | 3139 |
|  Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust |
|  4.631% due 10/19/2033 •  | 7 | 7 |
|  UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust |
|  2.500% due 11/25/2051 ~ | 2984 | 2489 |
|  3.000% due 01/25/2052 ~ | 3045 | 2640 |
|  Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
|  5.811% due 05/25/2068 þ | 325 | 324 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.118% due 12/25/2036 ~ | 511 | 457 |
|  4.127% due 02/25/2037 ~ | 533 | 502 |
|  4.373% due 10/25/2045 •  | 56 | 54 |
|  Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust |
|  6.000% due 06/25/2037 | 1294 | 1186 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  3.749% due 06/15/2036 ~ | 3500 | 3303 |
|  5.266% due 10/15/2042 •  | 1100 | 1099 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $83,070) | Total Non-Agency Mortgage-Backed Securities (Cost $83,070) | 81638 |
| ASSET-BACKED SECURITIES 8.6% | ASSET-BACKED SECURITIES 8.6% | ASSET-BACKED SECURITIES 8.6% |
| AUTOMOBILE SEQUENTIAL 1.4% | AUTOMOBILE SEQUENTIAL 1.4% | AUTOMOBILE SEQUENTIAL 1.4% |
|  Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
|  5.440% due 02/22/2028 | 2700 | 2720 |
|  5.780% due 04/20/2028 | 2600 | 2633 |
|  6.020% due 02/20/2030 | 5300 | 5503 |
|  BMW Canada Auto Trust | BMW Canada Auto Trust | BMW Canada Auto Trust |
|  4.844% due 07/20/2027 | 177 | 127 |
|  CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust |
|  4.750% due 10/15/2027 | 131 | 132 |
|  Citizens Auto Receivables Trust | Citizens Auto Receivables Trust | Citizens Auto Receivables Trust |
|  5.830% due 02/15/2028 | 1286 | 1292 |
|  5.840% due 01/18/2028 | 1172 | 1177 |
|  Ent Auto Receivables Trust | Ent Auto Receivables Trust | Ent Auto Receivables Trust |
|  6.240% due 01/16/2029 | 963 | 967 |
|  Ford Auto Securitization Trust II Asset-Backed Notes | Ford Auto Securitization Trust II Asset-Backed Notes | Ford Auto Securitization Trust II Asset-Backed Notes |
|  6.027% due 07/15/2028 | 1397 | 1017 |
|  GM Financial Revolving Receivables Trust | GM Financial Revolving Receivables Trust | GM Financial Revolving Receivables Trust |
|  5.120% due 04/11/2035 | 2600 | 2647 |
|  GMF Floorplan Owner Revolving Trust | GMF Floorplan Owner Revolving Trust | GMF Floorplan Owner Revolving Trust |
|  5.340% due 06/15/2030 | 5100 | 5215 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Honda Auto Receivables Owner Trust | Honda Auto Receivables Owner Trust | Honda Auto Receivables Owner Trust |
|  4.930% due 11/15/2027 | 1083 | 1086 |
|  |  | 24516 |
| CMBS OTHER 1.0% | CMBS OTHER 1.0% | CMBS OTHER 1.0% |
|  Acore Issuer LLC | Acore Issuer LLC | Acore Issuer LLC |
|  5.125% due 08/20/2043 •  | 3800 | 3798 |
|  ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC |
|  0.000% due 08/18/2044 •  | 500 | 500 |
|  Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. |
|  5.137% due 11/15/2036 •  | 1373 | 1377 |
|  AREIT Ltd. | AREIT Ltd. | AREIT Ltd. |
|  5.790% due 08/17/2041 •  | 741 | 742 |
|  BRSP Ltd. | BRSP Ltd. | BRSP Ltd. |
|  5.127% due 08/19/2043 •  | 900 | 898 |
|  FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC |
|  0.000% due 01/19/2044 •  | 1000 | 1000 |
|  GPMT Ltd. | GPMT Ltd. | GPMT Ltd. |
|  5.139% due 12/15/2036 •  | 1973 | 1970 |
|  LRECS LLC | LRECS LLC | LRECS LLC |
|  5.177% due 08/19/2043 •  | 2200 | 2196 |
|  MF1 LLC | MF1 LLC | MF1 LLC |
|  5.827% due 06/19/2037 •  | 2118 | 2118 |
|  MF1 Ltd. | MF1 Ltd. | MF1 Ltd. |
|  4.874% due 10/16/2036 •  | 650 | 650 |
|  PFP Ltd. | PFP Ltd. | PFP Ltd. |
|  5.180% due 08/18/2043 •  | 500 | 501 |
|  5.501% due 09/17/2039 •  | 392 | 393 |
|  Starwood Ltd. | Starwood Ltd. | Starwood Ltd. |
|  5.022% due 11/15/2038 •  | 496 | 495 |
|  |  | 16638 |
| HOME EQUITY OTHER 0.7% | HOME EQUITY OTHER 0.7% | HOME EQUITY OTHER 0.7% |
|  Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates | Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates | Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates |
|  4.738% due 10/25/2034 •  | 550 | 543 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.113% due 12/25/2036 •  | 269 | 151 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.073% due 06/25/2035 •  | 209 | 194 |
|  4.073% due 03/25/2037 •  | 48 | 48 |
|  4.313% due 12/25/2036 •  | 513 | 496 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  4.333% due 02/25/2036 •  | 1000 | 936 |
|  4.583% due 12/25/2029 •  | 15 | 15 |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  5.443% due 10/25/2034 •  | 15 | 15 |
|  MASTR Specialized Loan Trust | MASTR Specialized Loan Trust | MASTR Specialized Loan Trust |
|  4.313% due 02/25/2036 •  | 92 | 91 |
|  4.313% due 06/25/2046 •  | 171 | 166 |
|  4.533% due 01/25/2037 •  | 209 | 81 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  4.723% due 11/25/2034 •  | 22 | 22 |
|  Morgan Stanley Capital I, Inc. Trust | Morgan Stanley Capital I, Inc. Trust | Morgan Stanley Capital I, Inc. Trust |
|  4.153% due 03/25/2036 •  | 26 | 21 |
|  Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust | Ownit Mortgage Loan Trust |
|  4.693% due 10/25/2036 •  | 2299 | 2288 |
|  Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates |
|  5.593% due 12/25/2034 •  | 798 | 801 |
|  Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust |
|  5.612% due 04/25/2037 þ | 927 | 225 |
|  Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust |
|  4.233% due 12/25/2035 •  | 264 | 244 |
|  4.333% due 02/25/2036 •  | 710 | 689 |
|  Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust |
|  4.033% due 10/25/2036 •  | 817 | 805 |
|  4.408% due 03/25/2036 •  | 3900 | 3859 |
|  Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust |
|  4.693% due 05/25/2035 •  | 610 | 604 |
|  Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust |
|  4.213% due 02/25/2037 •  | 549 | 541 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **153** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.798% due 11/25/2035 •  | $— | 163 | 163 |
|  |  |  | 12998 |
| WHOLE LOAN COLLATERAL 0.3% | WHOLE LOAN COLLATERAL 0.3% | WHOLE LOAN COLLATERAL 0.3% | WHOLE LOAN COLLATERAL 0.3% |
|  First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust |
|  4.103% due 10/25/2036 •  |  | 5701 | 4782 |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  4.543% due 01/25/2034 •  |  | 1127 | 1172 |
|  |  |  | 5954 |
| OTHER ABS 5.2% | OTHER ABS 5.2% | OTHER ABS 5.2% | OTHER ABS 5.2% |
|  Anchorage Credit Funding 19 Ltd. | Anchorage Credit Funding 19 Ltd. | Anchorage Credit Funding 19 Ltd. | Anchorage Credit Funding 19 Ltd. |
|  5.036% due 10/25/2040 |  | 1600 | 1586 |
|  Arbour CLO XIII DAC | Arbour CLO XIII DAC | Arbour CLO XIII DAC | Arbour CLO XIII DAC |
|  3.154% due 08/15/2038 •  |  | 1000 | 1152 |
|  Atlas Senior Loan Fund XVIII Ltd. | Atlas Senior Loan Fund XVIII Ltd. | Atlas Senior Loan Fund XVIII Ltd. | Atlas Senior Loan Fund XVIII Ltd. |
|  4.778% due 01/18/2035 •  | $— | 1000 | 999 |
|  Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC |
|  3.277% due 01/22/2038 •  |  | 1700 | 1964 |
|  Barings Euro CLO DAC | Barings Euro CLO DAC | Barings Euro CLO DAC | Barings Euro CLO DAC |
|  3.269% due 10/21/2038 •  |  | 1500 | 1733 |
|  3.426% due 08/15/2039 •  |  | 1000 | 1154 |
|  Bayfront Iabs VII Pte. Ltd. | Bayfront Iabs VII Pte. Ltd. | Bayfront Iabs VII Pte. Ltd. | Bayfront Iabs VII Pte. Ltd. |
|  0.000% due 04/11/2048 «•  | $— | 1500 | 1500 |
|  Bosphorus CLO IX DAC | Bosphorus CLO IX DAC | Bosphorus CLO IX DAC | Bosphorus CLO IX DAC |
|  0.000% due 04/15/2038 •(b) |  | 1000 | 1156 |
|  Cairn CLO XI DAC | Cairn CLO XI DAC | Cairn CLO XI DAC | Cairn CLO XI DAC |
|  3.187% due 01/15/2040 •  |  | 1300 | 1502 |
|  Capital Four CLO IV DAC | Capital Four CLO IV DAC | Capital Four CLO IV DAC | Capital Four CLO IV DAC |
|  3.175% due 04/15/2038 •  |  | 600 | 691 |
|  Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC |
|  3.279% due 10/25/2038 •  |  | 400 | 462 |
|  Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust |
|  4.772% due 08/16/2029 •  | $— | 1000 | 999 |
|  5.022% due 10/16/2028 •  |  | 1600 | 1601 |
|  CBAMR Ltd. | CBAMR Ltd. | CBAMR Ltd. | CBAMR Ltd. |
|  5.302% due 07/15/2037 •  |  | 4000 | 4010 |
|  College Avenue Student Loans LLC | College Avenue Student Loans LLC | College Avenue Student Loans LLC | College Avenue Student Loans LLC |
|  5.312% due 06/25/2054 •  |  | 3053 | 3074 |
|  CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC |
|  2.824% due 08/15/2033 •  |  | 3088 | 3565 |
|  Dryden 95 CLO Ltd. | Dryden 95 CLO Ltd. | Dryden 95 CLO Ltd. | Dryden 95 CLO Ltd. |
|  4.696% due 08/20/2034 •  | $— | 1100 | 1100 |
|  Fair Oaks Loan Funding V DAC | Fair Oaks Loan Funding V DAC | Fair Oaks Loan Funding V DAC | Fair Oaks Loan Funding V DAC |
|  3.251% due 10/15/2036 •  |  | 1000 | 1155 |
|  Galaxy XXII CLO Ltd. | Galaxy XXII CLO Ltd. | Galaxy XXII CLO Ltd. | Galaxy XXII CLO Ltd. |
|  4.683% due 04/16/2034 •  | $— | 700 | 700 |
|  Grosvenor Place CLO DAC | Grosvenor Place CLO DAC | Grosvenor Place CLO DAC | Grosvenor Place CLO DAC |
|  3.383% due 08/15/2039 •  |  | 1700 | 1965 |
|  Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC | Hayfin Emerald CLO VI DAC |
|  3.266% due 10/15/2038 •  |  | 1400 | 1617 |
|  ICG Euro CLO DAC | ICG Euro CLO DAC | ICG Euro CLO DAC | ICG Euro CLO DAC |
|  3.320% (EUR003M + 1.290%) due 01/26/2038 ~ |  | 2100 | 2427 |
|  Invesco Euro CLO XI DAC | Invesco Euro CLO XI DAC | Invesco Euro CLO XI DAC | Invesco Euro CLO XI DAC |
|  3.287% due 10/22/2036 •  |  | 1100 | 1271 |
|  Invesco Euro CLO XII DAC | Invesco Euro CLO XII DAC | Invesco Euro CLO XII DAC | Invesco Euro CLO XII DAC |
|  3.277% due 07/15/2037 •  |  | 2300 | 2651 |
|  Invitation Homes Trust | Invitation Homes Trust | Invitation Homes Trust | Invitation Homes Trust |
|  4.000% due 09/17/2041 | $— | 3990 | 3890 |
|  LCM 35 Ltd. | LCM 35 Ltd. | LCM 35 Ltd. | LCM 35 Ltd. |
|  4.752% due 10/15/2034 •  |  | 1000 | 998 |
|  LCM 39 Ltd. | LCM 39 Ltd. | LCM 39 Ltd. | LCM 39 Ltd. |
|  4.703% due 10/15/2034 •  |  | 1000 | 1000 |
|  Lendmark Funding Trust | Lendmark Funding Trust | Lendmark Funding Trust | Lendmark Funding Trust |
|  1.900% due 11/20/2031 |  | 3800 | 3722 |
|  Madison Park Euro Funding XIV DAC | Madison Park Euro Funding XIV DAC | Madison Park Euro Funding XIV DAC | Madison Park Euro Funding XIV DAC |
|  2.816% due 07/15/2032 •  |  | 1980 | 2286 |
|  Man GLG Euro CLO V DAC | Man GLG Euro CLO V DAC | Man GLG Euro CLO V DAC | Man GLG Euro CLO V DAC |
|  2.840% due 12/15/2031 •  |  | 64 | 75 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Margay CLO II DAC | Margay CLO II DAC | Margay CLO II DAC |
|  3.244% due 07/15/2037 •  | 1000 | 1153 |
|  Mariner Finance Issuance Trust | Mariner Finance Issuance Trust | Mariner Finance Issuance Trust |
|  1.860% due 03/20/2036 | 3920 | 3875 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.973% due 02/21/2061 •  | 5275 | 5303 |
|  Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC |
|  2.954% due 08/15/2033 •  | 858 | 993 |
|  3.047% due 07/15/2035 •  | 1000 | 1156 |
|  Palmer Square Loan Funding Ltd. | Palmer Square Loan Funding Ltd. | Palmer Square Loan Funding Ltd. |
|  4.480% due 10/15/2032 •  | 1000 | 1000 |
|  4.489% due 01/15/2033 •  | 1300 | 1298 |
|  PK ALIFT Loan Funding 6 LP | PK ALIFT Loan Funding 6 LP | PK ALIFT Loan Funding 6 LP |
|  5.365% due 11/15/2042 | 1593 | 1606 |
|  Post CLO Ltd. | Post CLO Ltd. | Post CLO Ltd. |
|  4.762% due 04/20/2035 •  | 1100 | 1100 |
|  Providus CLO V DAC | Providus CLO V DAC | Providus CLO V DAC |
|  3.214% due 11/15/2039 •  | 1100 | 1271 |
|  Providus CLO VII DAC | Providus CLO VII DAC | Providus CLO VII DAC |
|  3.181% due 07/15/2038 •  | 700 | 807 |
|  Rockford Tower Europe CLO DAC | Rockford Tower Europe CLO DAC | Rockford Tower Europe CLO DAC |
|  3.271% due 08/29/2036 •  | 1000 | 1155 |
|  Romark Credit Funding Ltd. | Romark Credit Funding Ltd. | Romark Credit Funding Ltd. |
|  5.423% due 07/29/2043 | 1300 | 1307 |
|  RRE 3 Loan Management DAC | RRE 3 Loan Management DAC | RRE 3 Loan Management DAC |
|  3.306% due 12/15/2039 •  | 1500 | 1730 |
|  Stonepeak ABS | Stonepeak ABS | Stonepeak ABS |
|  2.301% due 02/28/2033 | 1095 | 1072 |
|  Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC |
|  2.270% due 01/30/2057 | 3031 | 2755 |
|  Switch ABS Issuer LLC | Switch ABS Issuer LLC | Switch ABS Issuer LLC |
|  5.121% due 10/25/2055 | 6000 | 5870 |
|  Tralee CLO V Ltd. | Tralee CLO V Ltd. | Tralee CLO V Ltd. |
|  4.748% due 10/20/2034 •  | 1000 | 998 |
|  Trimaran CAVU Ltd. | Trimaran CAVU Ltd. | Trimaran CAVU Ltd. |
|  4.667% due 10/25/2034 •  | 1100 | 1100 |
|  Venture 33 CLO Ltd. | Venture 33 CLO Ltd. | Venture 33 CLO Ltd. |
|  4.994% due 07/15/2031 •  | 464 | 465 |
|  Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. | Vibrant CLO XII Ltd. |
|  4.818% due 04/20/2034 •  | 1400 | 1402 |
|  Voya CLO Ltd. | Voya CLO Ltd. | Voya CLO Ltd. |
|  4.728% due 04/20/2034 •  | 2100 | 2102 |
|  |  | 91523 |
|  Total Asset-Backed Securities<br>(Cost $151,078) | Total Asset-Backed Securities<br>(Cost $151,078) | 151629 |
| SOVEREIGN ISSUES 8.7% | SOVEREIGN ISSUES 8.7% | SOVEREIGN ISSUES 8.7% |
|  Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional | Brazil Letras do Tesouro Nacional |
|  0.000% due 07/01/2026 (d) | 100500 | 18790 |
|  0.000% due 10/01/2026 (d) | 162500 | 29390 |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.250% due 12/01/2034 | 5100 | 3628 |
|  Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA | Cassa Depositi e Prestiti SpA |
|  4.375% due 10/01/2030 | 1900 | 1886 |
|  5.750% due 05/05/2026 | 1600 | 1602 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  6.125% due 01/21/2031 | 300 | 295 |
|  CPPIB Capital, Inc. | CPPIB Capital, Inc. | CPPIB Capital, Inc. |
|  4.300% due 06/02/2034 | 500 | 373 |
|  Eagle Funding Luxco SARL | Eagle Funding Luxco SARL | Eagle Funding Luxco SARL |
|  5.500% due 08/17/2030 | 5700 | 5737 |
|  Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds |
|  4.500% due 06/16/2034 | 2200 | 2521 |
|  Ivory Coast Government International Bonds | Ivory Coast Government International Bonds | Ivory Coast Government International Bonds |
|  4.875% due 01/30/2032 | 4800 | 5175 |
|  5.250% due 03/22/2030 | 2600 | 2969 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.300% due 12/20/2054 | 1040000 | 4974 |
|  2.400% due 03/20/2055 | 204000 | 997 |
|  2.800% due 06/20/2055 | 520000 | 2777 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | 1340000 | 7015 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.400% due 03/20/2045 |  | 326000 | $— | 1815 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 |  | 4500 |  | 1229 |
|  6.150% due 08/12/2032 |  | 56200 |  | 16889 |
|  6.950% due 08/12/2031 |  | 6801 |  | 2120 |
|  Province of Quebec | Province of Quebec | Province of Quebec | Province of Quebec | Province of Quebec |
|  4.450% due 09/01/2034 |  | 10100 |  | 7585 |
|  Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds | Republic of South Africa Government Bonds |
|  8.500% due 01/31/2037 |  | 25900 |  | 1431 |
|  8.875% due 02/28/2035 |  | 450300 |  | 26154 |
|  9.000% due 01/31/2040 |  | 2600 |  | 145 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  5.250% due 03/10/2030 |  | 1300 |  | 1525 |
|  5.375% due 06/07/2033 |  | 1000 |  | 1127 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  4.375% due 07/31/2054 |  | 4000 |  | 4408 |
|  Total Sovereign Issues (Cost $151,901) | Total Sovereign Issues (Cost $151,901) | Total Sovereign Issues (Cost $151,901) |  | 152557 |
|  | **SHARES** | **SHARES** |  |  |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% | MUTUAL FUNDS 0.0% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (i) |  | 107381 |  | 107 |
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** |  |  |
| U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% |
|  3.646% due 04/21/2026 - 05/26/2026 (c)(d)(o) | $— | 290 |  | 289 |
| Total Short-Term Instruments<br>(Cost $396) | Total Short-Term Instruments<br>(Cost $396) | Total Short-Term Instruments<br>(Cost $396) |  | 396 |
| Total Investments in Securities (Cost $2,073,656) | Total Investments in Securities (Cost $2,073,656) | Total Investments in Securities (Cost $2,073,656) |  | 2057529 |
|  | **SHARES** | **SHARES** |  |  |
| INVESTMENTS IN AFFILIATES 5.8% | INVESTMENTS IN AFFILIATES 5.8% | INVESTMENTS IN AFFILIATES 5.8% | INVESTMENTS IN AFFILIATES 5.8% | INVESTMENTS IN AFFILIATES 5.8% |
| MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% |
|  PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund |  | 2074954 |  | 102918 |
| Total Mutual Funds (Cost $102,540) | Total Mutual Funds (Cost $102,540) | Total Mutual Funds (Cost $102,540) |  | 102918 |
| SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% | SHORT-TERM INSTRUMENTS 0.0% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.0% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III |  | 6805 |  | 66 |
| Total Short-Term Instruments<br>(Cost $66) | Total Short-Term Instruments<br>(Cost $66) | Total Short-Term Instruments<br>(Cost $66) |  | 66 |
| Total Investments in Affiliates (Cost $102,606) | Total Investments in Affiliates (Cost $102,606) | Total Investments in Affiliates (Cost $102,606) |  | 102984 |
| Total Investments 122.7% (Cost $2,176,262) | Total Investments 122.7% (Cost $2,176,262) | Total Investments 122.7% (Cost $2,176,262) | $— | 2160513 |
|  Financial Derivative<br>Instruments (l)(n) 0.0%<br> (Cost or Premiums, net $8,819) | Financial Derivative<br>Instruments (l)(n) 0.0%<br> (Cost or Premiums, net $8,819) | Financial Derivative<br>Instruments (l)(n) 0.0%<br> (Cost or Premiums, net $8,819) |  | 857 |
| Other Assets and Liabilities, net (22.7)% | Other Assets and Liabilities, net (22.7)% | Other Assets and Liabilities, net (22.7)% |  | (400287) |
| Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $— | 1761083 |

---

154 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Coupon represents a weighted average yield to maturity.

(d) Zero coupon security.

(e) Principal amount of security is adjusted for inflation.

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

(g) Institutional Class Shares of each Fund

(h) Contingent convertible security.

(i) Coupon represents a 7-Day Yield.

&nbsp;&nbsp;&nbsp;&nbsp;(j) RESTRICTED SECURITIES:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Issuer Description | Coupon | Maturity<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  Alfa-Bank CJSC | 5.860% | 10/21/2026 | 10/27/2025 | $324 | $324 | 0.02% |
|  Hardwood Funding LLC | 5.330 | 06/07/2035 | 03/11/2025 | 600 | 606 | 0.03 |
|  National Football League | 4.780 | 10/05/2030 | 06/27/2025 | 2000 | 1991 | 0.11 |
|  National Football League | 5.250 | 10/05/2034 | 06/27/2025 | 1700 | 1696 | 0.10 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4617 | 0.26% |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOO | 3.770% | 02/25/2026 | 04/01/2026 | $(297) | $(298) |
|  BRC | 3.500 | 02/17/2026 | TBD<sup>(2)</sup> | (210) | (211) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14477) | (14516) |
|  DEU | 3.750 | 03/19/2026 | 04/09/2026 | (7644) | (7654) |
|  | 3.750 | 03/31/2026 | 04/07/2026 | (2073) | (2074) |
|  | 3.760 | 03/02/2026 | 04/06/2026 | (4694) | (4709) |
|  | 3.760 | 03/18/2026 | 04/08/2026 | (580) | (581) |
|  | 3.770 | 03/03/2026 | 04/07/2026 | (4647) | (4661) |
|  | 3.770 | 03/04/2026 | 04/08/2026 | (3654) | (3665) |
|  JPS | 3.760 | 03/09/2026 | 04/20/2026 | (15886) | (15924) |
|  | 3.760 | 03/10/2026 | 04/21/2026 | (5535) | (5548) |
|  | 3.760 | 03/11/2026 | 04/23/2026 | (9724) | (9746) |
|  | 3.770 | 02/27/2026 | 04/06/2026 | (4169) | (4183) |
|  MYI | 3.490 | 03/30/2026 | 04/10/2026 | (148) | (148) |
|  NOM | 3.750 | 04/02/2026 | 04/16/2026 | (3192) | (3192) |
|  | 3.760 | 02/19/2026 | 04/02/2026 | (2126) | (2135) |
|  STR | 3.730 | 04/01/2026 | 04/02/2026 | (65170) | (65170) |
|  | 3.760 | 03/31/2026 | 04/01/2026 | (65480) | (65480) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(209895) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Borrowing<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(3)</sup> |
|  BCY | 3.770% | 03/27/2026 | 04/06/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6823) | $(6826) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6826) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 155

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (2.3)% |  |  |  |  |  |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000% | 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | $(4085) | $(4107) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.500 | 05/01/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43300 | (36264) | (36394) |
|  Total Short Sales (2.3)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40349) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40501) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(3)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(4)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOO | $0 | $(298) | $0 | $(298) | $286 | $(12) |
|  BRC | 0 | (211) | 0 | (211) | 199 | (12) |
|  BSN | 0 | (14516) | 0 | (14516) | 14287 | (229) |
|  DEU | 0 | (23344) | 0 | (23344) | 22713 | (631) |
|  JPS | 0 | (35401) | 0 | (35401) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35143 | (258) |
|  MYI | 0 | (148) | 0 | (148) | 179 | 31 |
|  NOM | 0 | (5327) | 0 | (5327) | 2033 | (3294) |
|  STR | 0 | (130650) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130650) | 66917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63733) |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  BCY | 0 | 0 | (6826) | (6826) | 6824 | (2) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(209895) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6826) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  Corporate Bonds & Notes | $0 | $(148) | $0 | $(211) | $(359) |
|  U.S. Treasury Obligations | (65778) | (75396) | 0 | 0 | (141174) |
|  Total | $(65778) | $(75544) | $0 | $(211) | $(141533) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (6826) | 0 | 0 | (6826) |
|  Total | $0 | $(6826) | $0 | $0 | $(6826) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65778) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82370) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148359) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(5)</sup> | $(148359) |

---

(k) Securities with an aggregate market value of $148,581 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(86543) at a weighted average interest rate of 4.247%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(2)</sup> Open maturity reverse repurchase agreement.

<sup>(3)</sup> Payable for sale-buyback transactions includes $(4) of deferred price drop. 

<sup>(4)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(5)</sup> Unsettled reverse repurchase agreements liability of $(68362) is outstanding at period end. 

---

| | | |
|:---|:---|:---|
| **156** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;(l) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### WRITTEN OPTIONS:

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110.000 | 04/24/2026 | 25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | $(8) | $(9) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 25 | 25 | (6) | (4) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract June Futures  | 09/2027 | 1604 | $386744 | $(2195) | $80 | $0 |
|  3-Month SOFR Active Contract March Futures  | 06/2027 | 469 | 113011 | (632) | 35 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 469 | 113187 | (387) | 23 | 0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 298 | 22155 | (137) | 209 | 0 |
|  Long Guilt June Futures  | 06/2026 | 513 | 59610 | (3185) | 448 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 1162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241051 | (866) | 91 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 1142 | 123541 | (1828) | 161 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 2004 | 222538 | (3645) | 470 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 179 | 20319 | (453) | 53 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13328) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Oat June Futures  | 06/2026 | 156 | $(21401) | $677 | $0 | $(198) |
|  Japan Government 10-Year Bond June Futures  | 06/2026 | 43 | (35307) | 430 | 8 | (76) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102374) | 3117 | 0 | (337) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 1722 | (200721) | 6724 | 0 | (377) |
|  |  |  |  | $10948 | $8 | $(988) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2380) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(988) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Asset | Liability |
|  Boeing Co. | 1.000% | Quarterly | 06/20/2027 | 0.319% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149) | $179 | $30 | $1 | $0 |
|  General Electric Co. | 1.000 | Quarterly | 06/20/2026 | 0.051 | 2700 | 23 | (16) | 7 | 0 | 0 |
|  General Electric Co. | 1.000 | Quarterly | 12/20/2026 | 0.054 | 3200 | 43 | (20) | 23 | 0 | 0 |
|  General Motors Co. | 5.000 | Quarterly | 12/20/2026 | 0.292 | 550 | 105 | (86) | 19 | 0 | 0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | 1000 | 4 | (2) | 2 | 0 | 0 |
|  Oracle Corp. | 1.000 | Quarterly | 06/20/2030 | 1.622 | 3500 | 77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) | 7 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2027 | 0.344 | 200 | (4) | 6 | 2 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 06/20/2028 | 0.368 | 2200 | 1 | 29 | 30 | 1 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2028 | 0.423 | 500 | (1) | 9 | 8 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive<br>Floating Rate | **Floating Rate Index** | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive<br>Floating Rate | **Floating Rate Index** | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 3.500% | Annual | 03/18/2031 | GBP | 45420 | $(963) | $(973) | $(1936) | $145 | $0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 03/18/2036 |  | 19940 | 62 | 892 | 954 | 0 | (85) |
| Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/16/2036 |  | 41700 | 1392 | 790 | 2182 | 0 | (167) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 03/18/2028 | JPY | 6980000 | 242 | 54 | 296 | 0 | (25) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **157** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 0.380% | Semi-Annual | 06/18/2028 | 2460000 | $(350) | $(33) | $(383) | $10 | $0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.750 | Semi-Annual | 03/20/2038 | 85900 | 88 | 4 | 92 | 0 | (2) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.800 | Semi-Annual | 10/22/2038 | 150000 | 159 | 7 | 166 | 0 | (3) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.785 | Semi-Annual | 11/12/2038 | 230000 | 248 | 11 | 259 | 0 | (5) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.750 | Semi-Annual | 12/20/2038 | 80500 | 90 | 4 | 94 | 0 | (2) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.500 | Annual | 03/15/2042 | 312000 | 531 | 12 | 543 | 0 | (5) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.788 | Annual | 05/03/2027 | $12100 | (42) | (465) | (507) | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.150 | Annual | 06/15/2027 | 25300 | (96) | (757) | (853) | 6 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 06/24/2027 | 73900 | 50 | 26 | 76 | 26 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.850 | Annual | 08/29/2027 | 7300 | (38) | (94) | (132) | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 2700 | (5) | (21) | (26) | 0 | (3) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 06/24/2030 | 38300 | 20 | 26 | 46 | 39 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 02/28/2031 | 20260 | 119 | (287) | (168) | 0 | (22) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2032 | 27700 | 1250 | (626) | 624 | 0 | (31) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | 29500 | 228 | 190 | 418 | 0 | (33) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.608 | Annual | 08/15/2033 | 3340 | 0 | 37 | 37 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.609 | Annual | 08/15/2033 | 8200 | 0 | 89 | 89 | 0 | (9) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.619 | Annual | 08/15/2033 | 3800 | 0 | 39 | 39 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 12/26/2033 | 1100 | (5) | (2) | (7) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.854 | Annual | 12/29/2033 | 3400 | (14) | (9) | (23) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.670 | Annual | 01/08/2034 | 3400 | (16) | 37 | 21 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 01/17/2034 | 600 | (3) | 10 | 7 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.080 | Annual | 06/05/2034 | 2400 | (10) | (40) | (50) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.060 | Annual | 07/02/2034 | 6800 | (22) | (111) | (133) | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 07/10/2034 | 3100 | (9) | (8) | (17) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.885 | Annual | 07/12/2034 | 3100 | (11) | (7) | (18) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 08/05/2034 | 1200 | (5) | 1 | (4) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.795 | Annual | 08/06/2034 | 800 | (3) | 4 | 1 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.645 | Annual | 08/07/2034 | 2300 | (8) | 37 | 29 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/07/2034 | 2990 | (13) | 35 | 22 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.569 | Annual | 08/14/2034 | 7300 | (24) | 159 | 135 | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.586 | Annual | 08/19/2034 | 4600 | (16) | 95 | 79 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 2000 | (7) | 50 | 43 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 08/21/2034 | 2000 | (7) | 47 | 40 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.613 | Annual | 08/22/2034 | 3400 | (12) | 63 | 51 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.555 | Annual | 08/28/2034 | 1000 | (4) | 23 | 19 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.565 | Annual | 08/28/2034 | 1000 | (4) | 23 | 19 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.599 | Annual | 08/28/2034 | 2700 | (10) | 53 | 43 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 08/28/2034 | 1000 | (4) | 20 | 16 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.605 | Annual | 08/28/2034 | 500 | (2) | 10 | 8 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.611 | Annual | 08/28/2034 | 2500 | (10) | 48 | 38 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.643 | Annual | 08/28/2034 | 2400 | (9) | 39 | 30 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 09/04/2034 | 2600 | (10) | 78 | 68 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.525 | Annual | 09/04/2034 | 3900 | (15) | 100 | 85 | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.408 | Annual | 09/05/2034 | 2400 | (9) | 83 | 74 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 09/10/2034 | 1000 | (5) | 50 | 45 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.240 | Annual | 09/16/2034 | 1400 | (6) | 67 | 61 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.278 | Annual | 09/16/2034 | 200 | (1) | 9 | 8 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.280 | Annual | 09/16/2034 | 3200 | (14) | 144 | 130 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.231 | Annual | 09/18/2034 | 200 | (1) | 10 | 9 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 100 | (1) | 1 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 1150 | (4) | (3) | (7) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 2400 | (9) | (8) | (17) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 7300 | (25) | (8) | (33) | 0 | (7) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 500 | (1) | (2) | (3) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 6700 | (19) | (62) | (81) | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 | 3200 | (10) | (17) | (27) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 | 3400 | (10) | (7) | (17) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 06/24/2035 | 16800 | 1 | 231 | 232 | 0 | (17) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 4000 | (12) | 112 | 100 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 3100 | (6) | 28 | 22 | 0 | (2) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | 21700 | 266 | (33) | 233 | 0 | (16) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.617 | Annual | 02/15/2048 | 13530 | 0 | 3069 | 3069 | 30 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/21/2052 | 27500 | 5367 | 5559 | 10926 | 79 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.956 | Annual | 11/15/2054 | 10100 | 0 | 319 | 319 | 37 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.803 | Annual | 02/15/2055 | 10900 | 0 | 629 | 629 | 40 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.814 | Annual | 02/15/2055 | 2900 | 0 | 162 | 162 | 11 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.846 | Annual | 02/15/2055 | 2000 | 0 | 101 | 101 | 7 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.872 | Annual | 02/15/2055 | 7400 | 0 | 339 | 339 | 28 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/24/2055 | 9300 | 18 | 1053 | 1071 | 34 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 10400 | 199 | 45 | 244 | 41 | 0 |

---

---

| | | |
|:---|:---|:---|
| **158** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
| Pay<sup>(5)</sup> | 6-Month AUD-BBR-BBSW | 4.750% | Semi-Annual | 12/20/2033 | AUD | 54000 | $239 | $(653) | $(414) | $240 | $0 |
| Receive | 6-Month EUR-EURIBOR | 2.700 | Annual | 08/13/2029 | EUR | 2200 | (3) | (23) | (26) | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.650 | Annual | 08/14/2029 |  | 2100 | (3) | (18) | (21) | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.300 | Annual | 09/25/2029 |  | 1800 | (3) | 18 | 15 | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.050 | Annual | 10/05/2029 |  | 4400 | 0 | 89 | 89 | 0 | (14) |
| Receive | 6-Month EUR-EURIBOR | 2.360 | Annual | 10/07/2029 |  | 2800 | (5) | 55 | 50 | 0 | (9) |
| Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 |  | 27930 | (405) | (611) | (1016) | 247 | 0 |
| Receive<sup>(5)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 |  | 18850 | 249 | 226 | 475 | 0 | (210) |
| Receive | CAONREPO | 2.900 | Semi-Annual | 06/01/2033 | CAD | 300 | 0 | 2 | 2 | 0 | (1) |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2033 |  | 2000 | 7 | (7) | 0 | 0 | (4) |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 |  | 10000 | 8 | 31 | 39 | 0 | (19) |
|  |  |  |  |  |  |  | $8534 | $10660 | $19194 | $1024 | $(808) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $8633 | $10601 | $19234 | $1033 | $(808) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | **Total** | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | **Total** |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | **Total** | Written<br>Options | Futures | Swap<br>Agreements | **Total** |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2611 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(988) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(808) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1809) |

---

(m) Securities with an aggregate market value of $15,671 and cash of $28,517 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> 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. 

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(n) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | Currency to<br>be Received | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | Currency to<br>be Received | Asset | Liability |
|  AZD | 04/2026 | 39212 | $28626 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | $0 |
|  | 04/2026 | 20 | 15 | 0 | 0 |
|  BOA | 04/2026 | 6300 | 1207 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
|  | 04/2026 | 4758 | 690 | 0 | (1) |
|  | 04/2026 | 1001 | 1166 | 9 | 0 |
|  | 04/2026 | 144337 | 1537 | 13 | 0 |
|  | 04/2026 | 992937 | 679 | 21 | 0 |
|  | 04/2026 | 3748 | 1013 | 4 | 0 |
|  | 04/2026 | $1201 | 6300 | 15 | 0 |
|  | 04/2026 | 240 | 1654 | 0 | 0 |
|  | 04/2026 | 1537 | 144595 | 2 | 0 |
|  | 04/2026 | 246 | 4529 | 7 | 0 |
|  | 06/2026 | 5426 | $1756 | 27 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **159** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 06/2026 | 24514 | $1367 | $8 | $0 |
|  | 06/2026 | $100 | 528 | 1 | 0 |
|  | 06/2026 | 347 | 1081 | 0 | (2) |
|  | 10/2026 | 6700 | $1226 | 0 | (14) |
|  BPS | 04/2026 | 669 | 476 | 15 | 0 |
|  | 04/2026 | 86944 | 15993 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(792) |
|  | 04/2026 | 1588 | 231 | 0 | 0 |
|  | 04/2026 | 5356 | 1735 | 31 | 0 |
|  | 04/2026 | 1828215 | 1218 | 4 | (2) |
|  | 04/2026 | 1442 | 387 | 0 | (1) |
|  | 04/2026 | 166190 | 5141 | 98 | (2) |
|  | 04/2026 | $1409 | 2023 | 0 | (13) |
|  | 04/2026 | 16571 | 86944 | 214 | 0 |
|  | 04/2026 | 8383 | 141847698 | 1 | (28) |
|  | 04/2026 | 1278 | 4048 | 10 | 0 |
|  | 04/2026 | 1200 | 191300 | 6 | 0 |
|  | 04/2026 | 1323 | 1977373 | 2 | (13) |
|  | 04/2026 | 2106 | 7593 | 0 | (60) |
|  | 04/2026 | 1 | 36 | 0 | 0 |
|  | 04/2026 | 4583 | 146470 | 1 | (12) |
|  | 04/2026 | 21318 | $1259 | 1 | 0 |
|  | 05/2026 | 4044 | 1278 | 0 | (10) |
|  | 05/2026 | 363589 | 3843 | 0 | (16) |
|  | 05/2026 | 83329 | 2586 | 0 | (12) |
|  | 05/2026 | $1500 | 7874 | 11 | 0 |
|  | 05/2026 | 1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32770388 | 5 | 0 |
|  | 05/2026 | 384 | 12606 | 0 | (1) |
|  | 06/2026 | 5015769 | $298 | 3 | 0 |
|  | 06/2026 | $1785 | 9487 | 22 | 0 |
|  | 06/2026 | 668 | 11255710 | 0 | (6) |
|  | 07/2026 | 18500 | $3437 | 0 | (62) |
|  | 07/2026 | $5832 | 31329 | 94 | 0 |
|  | 10/2026 | 44700 | $8154 | 0 | (119) |
|  BRC | 04/2026 | 51 | 37 | 0 | 0 |
|  | 04/2026 | 152 | 16 | 0 | 0 |
|  | 04/2026 | 12615 | 400 | 17 | 0 |
|  | 04/2026 | 994313 | 21931 | 0 | (153) |
|  | 04/2026 | $214 | 770 | 0 | (7) |
|  | 04/2026 | 1640 | 14880 | 0 | (68) |
|  | 04/2026 | 11052 | 505629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | 0 |
|  | 04/2026 | 53608 | $3276 | 112 | 0 |
|  | 05/2026 | 73190 | 1570 | 0 | (10) |
|  | 05/2026 | $37 | 51 | 0 | 0 |
|  | 06/2026 | 67 | $22 | 0 | 0 |
|  BSH | 04/2026 | 92300 | 16601 | 0 | (1218) |
|  | 04/2026 | 961 | 1279 | 7 | 0 |
|  | 04/2026 | 17992 | 113 | 0 | (1) |
|  | 04/2026 | $17773 | 92300 | 46 | 0 |
|  | 04/2026 | 793 | 126501 | 4 | 0 |
|  | 04/2026 | 16787 | 29079 | 0 | (77) |
|  | 04/2026 | 6450 | 23328 | 0 | (165) |
|  | 05/2026 | 126120 | $793 | 0 | (4) |
|  | 05/2026 | 29079 | 16806 | 78 | 0 |
|  | 05/2026 | 18607 | 5454 | 122 | 0 |
|  | 05/2026 | $1279 | 961 | 0 | (7) |
|  | 05/2026 | 113 | 17938 | 1 | 0 |
|  | 10/2026 | 98400 | $18163 | 0 | (49) |
|  | 10/2026 | 16900 | 4996 | 189 | 0 |
|  CBK | 04/2026 | 1906 | 1342 | 27 | 0 |
|  | 04/2026 | 2625 | 1925 | 38 | 0 |
|  | 04/2026 | 1619 | 235 | 0 | 0 |
|  | 04/2026 | 2538 | 2938 | 4 | 0 |
|  | 04/2026 | 667 | 890 | 8 | 0 |
|  | 04/2026 | 8769733 | 519 | 3 | 0 |
|  | 04/2026 | 1101596 | 11787 | 153 | 0 |
|  | 04/2026 | 1775 | 182 | 0 | (1) |
|  | 04/2026 | 5355 | 574 | 9 | 0 |
|  | 04/2026 | 140 | 4 | 0 | 0 |
|  | 04/2026 | 6555 | 206 | 1 | 0 |
|  | 04/2026 | $733 | 5053 | 0 | 0 |

---

---

| | | |
|:---|:---|:---|
| **160** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $29094 | 2681037 | $24 | $(715) |
|  | 06/2026 | 13767590 | $818 | 8 | 0 |
|  | 06/2026 | 1431 | 464 | 8 | 0 |
|  | 06/2026 | $980 | 16539269 | 0 | (8) |
|  | 06/2026 | 2123 | 37534 | 0 | (41) |
|  | 09/2026 | 499 | 8922 | 0 | (8) |
|  DUB | 04/2026 | 7354 | $1063 | 0 | (4) |
|  | 04/2026 | 10807 | 3491 | 53 | 0 |
|  | 04/2026 | 441459 | 4687 | 31 | (6) |
|  | 04/2026 | $10642 | 15514 | 61 | 0 |
|  | 04/2026 | 2192 | 15016 | 0 | (12) |
|  | 04/2026 | 5171 | 487330 | 34 | (26) |
|  | 04/2026 | 24461 | 31246 | 0 | (158) |
|  | 04/2026 | 1716 | 56037 | 0 | (15) |
|  | 05/2026 | 15514 | $10638 | 0 | (61) |
|  | 05/2026 | 31176 | 24461 | 157 | 0 |
|  | 05/2026 | $1063 | 7337 | 4 | 0 |
|  | 06/2026 | 55923 | $1716 | 10 | 0 |
|  | 06/2026 | 496 | 16 | 0 | 0 |
|  | 07/2026 | 5522 | 1632 | 53 | 0 |
|  FAR | 04/2026 | 7275 | 5156 | 137 | 0 |
|  | 04/2026 | 2984 | 3866 | 135 | 0 |
|  | 04/2026 | 1775 | 2378 | 29 | 0 |
|  | 04/2026 | 102490 | 656 | 10 | 0 |
|  | 04/2026 | $2959 | 2358 | 0 | (10) |
|  | 04/2026 | 1784 | 1326 | 0 | (29) |
|  | 04/2026 | 1526 | 243529 | 9 | 0 |
|  | 04/2026 | 238 | 858 | 0 | (7) |
|  | 04/2026 | 132 | 169 | 0 | (1) |
|  | 05/2026 | 2350 | $2959 | 10 | 0 |
|  | 05/2026 | 6725 | 2125 | 0 | (17) |
|  | 05/2026 | 242793 | 1526 | 0 | (9) |
|  | 05/2026 | 168 | 132 | 1 | 0 |
|  | 05/2026 | $2378 | 1775 | 0 | (29) |
|  | 06/2026 | 3862 | $1253 | 22 | 0 |
|  | 06/2026 | $1788 | 31150 | 0 | (61) |
|  | 07/2026 | 5453 | $1613 | 54 | 0 |
|  | 08/2026 | 16198 | 4791 | 165 | 0 |
|  | 09/2026 | $405 | 7148 | 0 | (12) |
|  GLM | 04/2026 | 217789 | $39313 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2733) |
|  | 04/2026 | 5236 | 1684 | 18 | 0 |
|  | 04/2026 | 15421 | 169 | 6 | 0 |
|  | 04/2026 | $49803 | 260887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | 0 |
|  | 04/2026 | 657 | 4512 | 0 | (2) |
|  | 04/2026 | 745 | 12588092 | 0 | (4) |
|  | 04/2026 | 2074 | 38244 | 59 | 0 |
|  | 04/2026 | 953 | 31284 | 0 | (4) |
|  | 06/2026 | 2 | $0 | 0 | 0 |
|  | 06/2026 | 10241044 | 607 | 5 | 0 |
|  | 06/2026 | 31228 | 953 | 1 | 0 |
|  | 06/2026 | $298 | 1584 | 4 | 0 |
|  | 06/2026 | 1050 | 17765674 | 0 | (5) |
|  | 06/2026 | 6631 | 116776 | 0 | (156) |
|  | 07/2026 | 63600 | $11805 | 0 | (225) |
|  | 07/2026 | $13751 | 74432 | 328 | 0 |
|  IND | 04/2026 | 38769 | $45778 | 967 | 0 |
|  JPM | 04/2026 | 29700 | 5690 | 0 | (43) |
|  | 04/2026 | 10913 | 1578 | 0 | (6) |
|  | 04/2026 | 228392 | 2429 | 17 | 0 |
|  | 04/2026 | 7849 | 2136 | 25 | (4) |
|  | 04/2026 | 27261 | 21632 | 428 | 0 |
|  | 04/2026 | 9271 | 206 | 0 | (3) |
|  | 04/2026 | $5622 | 29700 | 112 | 0 |
|  | 04/2026 | 2429 | 228783 | 5 | 0 |
|  | 04/2026 | 9014 | 161808 | 21 | (17) |
|  | 04/2026 | 206 | 9279 | 3 | 0 |
|  | 04/2026 | 194498 | $11602 | 132 | (8) |
|  | 05/2026 | 688 | 472 | 0 | (3) |
|  | 05/2026 | $1118 | 7719 | 5 | 0 |
|  | 06/2026 | 3607 | $1168 | 18 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **161** |

---

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to be<br>Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 06/2026 | 26878 | $1498 | $8 | $0 |
|  | 06/2026 | $10 | 174580 | 0 | 0 |
|  | 06/2026 | 326 | 1012 | 0 | (3) |
|  | 07/2026 | 18400 | $3401 | 0 | (79) |
|  | 10/2026 | 12700 | 2312 | 0 | (38) |
|  MBC | 04/2026 | 708 | 494 | 5 | 0 |
|  | 04/2026 | 91 | 115 | 1 | 0 |
|  | 04/2026 | 3 | 4 | 0 | 0 |
|  | 04/2026 | 299667 | 3166 | 7 | 0 |
|  | 04/2026 | 141174 | 903 | 15 | (1) |
|  | 04/2026 | 925694 | 633 | 17 | 0 |
|  | 04/2026 | 2060 | 213 | 1 | 0 |
|  | 04/2026 | 7265 | 774 | 6 | 0 |
|  | 04/2026 | 43262 | 1356 | 42 | 0 |
|  | 04/2026 | $3336 | 4753 | 0 | (56) |
|  | 04/2026 | 909 | 715 | 0 | (15) |
|  | 04/2026 | 1267 | 949 | 0 | (11) |
|  | 04/2026 | 3240 | 299667 | 0 | (81) |
|  | 04/2026 | 1421 | 226600 | 7 | 0 |
|  | 04/2026 | 619 | 11432 | 18 | 0 |
|  | 04/2026 | 842 | 8238 | 9 | 0 |
|  | 04/2026 | 2026 | 7454 | 0 | (19) |
|  | 05/2026 | 478 | $633 | 0 | 0 |
|  | 05/2026 | 8239 | 842 | 0 | (9) |
|  | 05/2026 | $4 | 3 | 0 | 0 |
|  | 05/2026 | 177 | 28178 | 1 | 0 |
|  | 06/2026 | 3142 | $174 | 0 | 0 |
|  MYI | 04/2026 | 708 | 200 | 9 | 0 |
|  | 06/2026 | 6458 | 2103 | 45 | 0 |
|  NGF | 04/2026 | 4258 | 443 | 3 | 0 |
|  | 04/2026 | $8756 | 400670 | 114 | 0 |
|  RBC | 04/2026 | 4134 | $3245 | 29 | 0 |
|  SCX | 04/2026 | 80605 | 517 | 9 | 0 |
|  | 04/2026 | 25671 | 15348 | 596 | 0 |
|  | 04/2026 | 4729 | 149 | 5 | 0 |
|  | 04/2026 | $30255 | 41888 | 0 | (142) |
|  | 04/2026 | 1508 | 1130 | 0 | (12) |
|  | 04/2026 | 3029 | 275888 | 0 | (116) |
|  | 04/2026 | 749 | 2709 | 0 | (19) |
|  | 04/2026 | 3485 | 111232 | 0 | (10) |
|  | 05/2026 | 41831 | $30255 | 141 | 0 |
|  | 06/2026 | $1821 | 30695900 | 0 | (16) |
|  SOG | 04/2026 | 1515 | $1793 | 42 | 0 |
|  | 04/2026 | 444584 | 2857 | 56 | 0 |
|  | 04/2026 | 2264 | 237 | 0 | (2) |
|  | 04/2026 | $50571 | 43823 | 81 | 0 |
|  | 05/2026 | 43823 | $50651 | 0 | (79) |
|  | 05/2026 | $237 | 2260 | 2 | 0 |
|  | 06/2026 | 2731 | $885 | 15 | 0 |
|  | 06/2026 | 10572 | 3138 | 111 | 0 |
|  | 07/2026 | 3554 | 1050 | 33 | 0 |
|  SSB | 04/2026 | 11732 | 8349 | 254 | 0 |
|  | 04/2026 | 521 | 3 | 0 | 0 |
|  | 04/2026 | 3408 | 2008 | 50 | 0 |
|  | 04/2026 | $2970 | 15616 | 45 | 0 |
|  UAG | 04/2026 | 300009 | $3192 | 29 | 0 |
|  | 04/2026 | 3722 | 1011 | 9 | 0 |
|  | 04/2026 | 12615 | 388 | 5 | 0 |
|  | 04/2026 | $6361 | 600591 | 7 | (6) |
|  | 04/2026 | 4029 | 14553 | 0 | (109) |
|  | 04/2026 | 388 | 12615 | 0 | (5) |
|  | 06/2026 | 4433 | $1434 | 21 | 0 |
|  | 06/2026 | 4006 | 223 | 1 | 0 |
|  | 06/2026 | $2656 | 46363 | 0 | (85) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7507 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8291) |

---

162 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### PURCHASED OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW | 1400.000 | 07/09/2026 | 8900 | $89 | $27 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |

---

#### WRITTEN OPTIONS:

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW | 1350.000 | 07/09/2026 | 8900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600% | 04/16/2026 | 7600 | $(24) | $(7) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 7600 | (25) | (40) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 7700 | (27) | (22) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 7700 | (27) | (21) |
|  |  |  |  |  |  | $(103) | $(90) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BRC | Turkiye Government International Bonds | 1.000% | Quarterly | 06/20/2030 | 2.716% | $2400 | $(169) | $16 | $0 | $(153) |
| GST | Soft Bank Group,Inc. | 1.000 | Quarterly | 06/20/2026 | 1.662 | 800 | (7) | 6 | 0 | (1) |
| MYC | Colombia Government International Bonds | 1.000 | Quarterly | 06/20/2027 | 1.040 | 2700 | (153) | 153 | 0 | 0 |
|  | Colombia Government International Bonds | 1.000 | Quarterly | 12/20/2027 | 1.208 | 3000 | (267) | 258 | 0 | (9) |
|  | South Africa Government International Bonds | 1.000 | Quarterly | 12/20/2026 | 0.728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | (229) | 241 | 12 | 0 |
|  |  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(825) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(5)</sup> | Swap Agreements,<br>at Value<sup>(5)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | Quarterly | 12/20/2030 | EUR 1,400 | $272 | $8 | $280 | $0 |
| GST | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 3900 | 799 | (19) | 780 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | $(11) | $1060 | $0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $246 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 163

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(6)</sup> |
|  AZD | $437 | $0 | $0 | $437 | $0 | $0 | $0 | $0 | $437 | $(320) | $117 |
|  BOA | 107 | 27 | 0 | 134 | (27) | (7) | 0 | (34) | 100 | 0 | 100 |
|  BPS | 518 | 0 | 280 | 798 | (1149) | 0 | 0 | (1149) | (351) | 453 | 102 |
|  BRC | 237 | 0 | 0 | 237 | (238) | 0 | (153) | (391) | (154) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154) |
|  BSH | 447 | 0 | 0 | 447 | (1521) | 0 | 0 | (1521) | (1074) | 738 | (336) |
|  CBK | 283 | 0 | 0 | 283 | (773) | 0 | 0 | (773) | (490) | 566 | 76 |
|  DUB | 403 | 0 | 0 | 403 | (282) | 0 | 0 | (282) | 121 | 0 | 121 |
|  FAR | 572 | 0 | 0 | 572 | (175) | 0 | 0 | (175) | 397 | (270) | 127 |
|  GLM | 921 | 0 | 0 | 921 | (3129) | (90) | 0 | (3219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2298) | 2336 | 38 |
|  GST | 0 | 0 | 780 | 780 | 0 | 0 | (1) | (1) | 779 | (800) | (21) |
|  IND | 967 | 0 | 0 | 967 | 0 | 0 | 0 | 0 | 967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1330) | (363) |
|  JPM | 774 | 0 | 0 | 774 | (204) | 0 | 0 | (204) | 570 | (800) | (230) |
|  MBC | 129 | 0 | 0 | 129 | (192) | 0 | 0 | (192) | (63) | 0 | (63) |
|  MYC | 0 | 0 | 12 | 12 | 0 | 0 | (9) | (9) | 3 | 0 | 3 |
|  MYI | 54 | 0 | 0 | 54 | 0 | 0 | 0 | 0 | 54 | 22 | 76 |
|  NGF | 117 | 0 | 0 | 117 | 0 | 0 | 0 | 0 | 117 | 0 | 117 |
|  RBC | 29 | 0 | 0 | 29 | 0 | 0 | 0 | 0 | 29 | 0 | 29 |
|  SCX | 751 | 0 | 0 | 751 | (315) | 0 | 0 | (315) | 436 | (400) | 36 |
|  SOG | 340 | 0 | 0 | 340 | (81) | 0 | 0 | (81) | 259 | (280) | (21) |
|  SSB | 349 | 0 | 0 | 349 | 0 | 0 | 0 | 0 | 349 | (320) | 29 |
|  UAG | 72 | 0 | 0 | 72 | (205) | 0 | 0 | (205) | (133) | 0 | (133) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7507 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8606 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8291) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8551) |  |  |  |

---

(o) Securities with an aggregate market value of $4,115 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | |
|:---|:---|:---|
| **164** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578 | $1578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 9 | 0 | 0 | 1024 | 1033 |
|  | $0 | $9 | $0 | $0 | $2602 | $2611 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $7507 | $0 | $7507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 27 | 0 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1072 | 0 | 0 | 0 | 1072 |
|  | $0 | $1072 | $0 | $7534 | $0 | $8606 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | $0 | $7534 | $2602 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11217 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $13 | $13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 988 | 988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 808 | 808 |
|  | $0 | $0 | $0 | $0 | $1809 | $1809 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $8291 | $0 | $8291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 7 | 90 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 163 | 0 | 0 | 0 | 163 |
|  | $0 | $163 | $0 | $8298 | $90 | $8551 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $163 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8298 | $1899 | $10360 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $985 | $985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 4699 | 4699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 200 | 0 | 0 | 708 | 908 |
|  | $0 | $200 | $0 | $0 | $6392 | $6592 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(11249) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11249) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (386) | 0 | (386) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 21 | 0 | 0 | 1722 | 1743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 129 | 0 | 0 | 0 | 129 |
|  | $0 | $150 | $0 | $(11635) | $1722 | $(9763) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11635) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8114 | $(3171) |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $3 | $3 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5151) | (5151) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (248) | 0 | 0 | 8126 | 7878 |
|  | $0 | $(248) | $0 | $0 | $2978 | $2730 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(59) | $0 | $(59) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (25) | 0 | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 25 | (13) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 48 | 0 | 0 | 0 | 48 |
|  | $0 | $48 | $0 | $(59) | $(13) | $(24) |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200) | $0 | $(59) | $2965 | $2706 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 165

------

Schedule of Investments PIMCO Moderate Duration Fund (Cont.)

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $5475 | $1026 | $6501 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | 171018 | 606 | 171624 |
| &nbsp;&nbsp; Industrials | 0 | 94630 | 3687 | 98317 |
| &nbsp;&nbsp; Utilities | 0 | 62127 | 0 | 62127 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; California | 0 | 152 | 0 | 152 |
|  U.S. Government Agencies | 0 | 378567 | 0 | 378567 |
|  U.S. Treasury Obligations | 0 | 954021 | 0 | 954021 |
|  Non-Agency Mortgage-Backed Securities | 0 | 63354 | 18284 | 81638 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 24516 | 0 | 24516 |
| &nbsp;&nbsp; CMBS Other | 0 | 16638 | 0 | 16638 |
| &nbsp;&nbsp; Home Equity Other | 0 | 12998 | 0 | 12998 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 5954 | 0 | 5954 |
| &nbsp;&nbsp; Other ABS | 0 | 90023 | 1500 | 91523 |
|  Sovereign Issues | 0 | 152557 | 0 | 152557 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Mutual Funds | 107 | 0 | 0 | 107 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 289 | 0 | 289 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032319 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25103 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2057529 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102918 | 0 | 0 | 102918 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $66 | $0 | $0 | $66 |
|  | $102984 | $0 | $0 | $102984 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103091 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032319 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25103 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160513 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(40501) | $0 | $(40501) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 665 | 1946 | 0 | 2611 |
|  Over the counter | 0 | 8606 | 0 | 8606 |
|  | $665 | $10552 | $0 | $11217 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (274) | (1535) | 0 | (1809) |
|  Over the counter | 0 | (8551) | 0 | (8551) |
|  | $(274) | $(10086) | $0 | $(10360) |
|  Total Financial Derivative Instruments | $391 | $466 | $0 | $857 |
|  Totals | $103482 | $1992284 | $25103 | $2120869 |

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/<br>Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $3158 | $360 | $(2489) | $1 | $35 | $(39) | $0 | $0 | $1026 | $(7) |
|  Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | 603 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 606 | 6 |
| &nbsp;&nbsp; Industrials | 0 | 3700 | 0 | 0 | 0 | (13) | 0 | 0 | 3687 | (13) |
|  Non-Agency Mortgage-Backed Securities | 0 | 17327 | 0 | 0 | 0 | 957 | 0 | 0 | 18284 | 957 |
|  Asset-Backed Securities |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Other ABS | 6163 | 1500 | (2043) | 0 | 149 | 289 | 0 | (4558) | 1500 | 0 |
|  Totals | $9924 | $22887 | $(4532) | $1 | $184 | $1197 | $0 | $(4558) | $25103 | $943 |

---

166 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $1026 | Discounted Cash Flow | Discount Rate | 4.270-5.770 | 5.297 |
|  Corporate Bonds & Notes |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banking & Finance | 606 | Discounted Cash Flow | Discount Rate | 5.200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials | 3687 | Discounted Cash Flow | Discount Rate | 4.871-5.288 | 5.064 |
|  Non-Agency Mortgage-Backed Securities | 18284 | Recent Transaction | Purchase Price | 100.00 |  |
|  Asset-Backed Securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other ABS | 1500 | Discounted Cash Flow | Discount Rate | 5.328 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25103 |  |  |  |  |

---

<sup>(1)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **167** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 203.8% | INVESTMENTS IN SECURITIES 203.8% | INVESTMENTS IN SECURITIES 203.8% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 0.1% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.1% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.1% |
|  FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC |
|  6.610% due 05/26/2028 «~ | 2800 | 2800 |
|  Project Flash | Project Flash | Project Flash |
|  0.625% - 6.181% (TSFR1M + 2.500%) due 01/09/2028 «~µ | 6870 | 6821 |
|  Total Loan Participations and Assignments (Cost $9,648) | Total Loan Participations and Assignments (Cost $9,648) | 9621 |
| CORPORATE BONDS & NOTES 1.0% | CORPORATE BONDS & NOTES 1.0% | CORPORATE BONDS & NOTES 1.0% |
| BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% | BANKING & FINANCE 0.1% |
|  Preferred Term Securities XVI Ltd./Preferred Term Securities XVI, Inc. | Preferred Term Securities XVI Ltd./Preferred Term Securities XVI, Inc. | Preferred Term Securities XVI Ltd./Preferred Term Securities XVI, Inc. |
|  4.516% (US0003M + 0.580%) due 03/23/2035 ~ | 2488 | 2395 |
|  Preferred Term Securities XXI Ltd./Preferred Term Securities XXI, Inc. | Preferred Term Securities XXI Ltd./Preferred Term Securities XXI, Inc. | Preferred Term Securities XXI Ltd./Preferred Term Securities XXI, Inc. |
|  4.024% (US0003M + 0.350%) due 03/22/2038 ~ | 905 | 873 |
|  Preferred Term Securities XXIV Ltd./Preferred Term Securities XXIV, Inc. | Preferred Term Securities XXIV Ltd./Preferred Term Securities XXIV, Inc. | Preferred Term Securities XXIV Ltd./Preferred Term Securities XXIV, Inc. |
|  4.236% (US0003M + 0.300%) due 03/22/2037 ~ | 192 | 184 |
|  Preferred Term Securities XXVI Ltd./Preferred Term Securities XXVI, Inc. | Preferred Term Securities XXVI Ltd./Preferred Term Securities XXVI, Inc. | Preferred Term Securities XXVI Ltd./Preferred Term Securities XXVI, Inc. |
|  4.236% (US0003M + 0.300%) due 09/22/2037 ~ | 1690 | 1597 |
|  SBA Tower Trust | SBA Tower Trust | SBA Tower Trust |
|  1.840% due 04/15/2027 | 17600 | 17179 |
|  |  | 22228 |
| INDUSTRIALS 0.9% | INDUSTRIALS 0.9% | INDUSTRIALS 0.9% |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 114820 | 118142 |
|  Crown Castle Towers LLC | Crown Castle Towers LLC | Crown Castle Towers LLC |
|  4.241% due 07/15/2048 | 500 | 497 |
|  Times Square Hotel Trust | Times Square Hotel Trust | Times Square Hotel Trust |
|  8.528% due 08/01/2026 | 219 | 219 |
|  |  | 118858 |
|  Total Corporate Bonds & Notes (Cost $136,752) | Total Corporate Bonds & Notes (Cost $136,752) | 141086 |
| MUNICIPAL BONDS & NOTES 0.0% | MUNICIPAL BONDS & NOTES 0.0% | MUNICIPAL BONDS & NOTES 0.0% |
| MICHIGAN 0.0% | MICHIGAN 0.0% | MICHIGAN 0.0% |
|  Detroit, Michigan General Obligation Bonds, Series 2014 | Detroit, Michigan General Obligation Bonds, Series 2014 | Detroit, Michigan General Obligation Bonds, Series 2014 |
|  4.000% due 04/01/2044 | 4574 | 3526 |
|  Total Municipal Bonds & Notes<br>(Cost $3,515) | Total Municipal Bonds & Notes<br>(Cost $3,515) | 3526 |
| U.S. GOVERNMENT AGENCIES 148.1% | U.S. GOVERNMENT AGENCIES 148.1% | U.S. GOVERNMENT AGENCIES 148.1% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  3.000% due 02/01/2040 - 06/01/2050 (g) | 60723 | 55227 |
|  3.000% due 11/01/2049 - 10/01/2051 | 8865 | 7916 |
|  3.500% due 01/01/2038 - 10/01/2049 | 1650 | 1548 |
|  3.500% due 02/01/2047 - 02/01/2051 (g) | 49358 | 45808 |
|  3.610% due 01/01/2038 | 1733 | 1657 |
|  4.000% due 06/01/2039 - 07/01/2049 | 11897 | 11509 |
|  4.000% due 05/01/2045 - 05/01/2049 (g) | 64393 | 61763 |
|  4.010% due 01/01/2040 | 5760 | 5555 |
|  4.190% due 05/01/2030 (g) | 20500 | 20407 |
|  4.200% due 01/01/2037 | 1218 | 1208 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.490% due 09/01/2036 | $— | 523 | $— | 514 |
|  4.500% due 08/01/2030 - 11/01/2054 |  | 2901 |  | 2847 |
|  4.500% due 12/01/2041 - 12/01/2054 (g) |  | 10583 |  | 10330 |
|  4.710% due 07/01/2035 |  | 1510 |  | 1506 |
|  4.790% due 03/01/2036 |  | 996 |  | 1002 |
|  4.840% due 03/01/2035 |  | 1926 |  | 1940 |
|  4.950% due 01/01/2030 (g) |  | 10710 |  | 10812 |
|  5.000% due 03/01/2049 - 12/01/2055 (g) |  | 112558 |  | 112274 |
|  5.000% due 10/01/2052 - 03/01/2056 |  | 52307 |  | 52155 |
|  5.070% due 09/01/2034 |  | 967 |  | 991 |
|  5.500% due 09/01/2035 - 01/01/2056 |  | 98498 |  | 100518 |
|  5.500% due 01/01/2039 - 10/01/2055 (g) |  | 520615 |  | 530097 |
|  5.840% due 05/01/2034 |  | 2822 |  | 2968 |
|  6.000% due 03/01/2045 - 10/01/2055 |  | 73906 |  | 76576 |
|  6.000% due 05/01/2045 - 09/01/2055 (g) |  | 625981 |  | 650028 |
|  6.500% due 05/01/2045 - 09/01/2055 (g) |  | 471133 |  | 492786 |
|  6.500% due 09/01/2053 - 10/01/2055 |  | 29707 |  | 31280 |
|  7.000% due 03/01/2039 - 07/01/2054 |  | 153 |  | 162 |
|  7.000% due 06/01/2054 (g) |  | 1801 |  | 1910 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  0.903% due 04/25/2034 ~(a) |  | 131563 |  | 6366 |
|  2.776% due 06/25/2054 ~ |  | 3888 |  | 3789 |
|  2.937% due 07/25/2054 ~ |  | 31686 |  | 30786 |
|  3.582% due 10/25/2046 ~ |  | 867 |  | 862 |
|  4.228% due 10/25/2034 ~ |  | 69498 |  | 68476 |
|  4.660% due 01/25/2031 |  | 27615 |  | 27926 |
|  5.007% due 09/25/2030 ~ |  | 12779 |  | 13055 |
|  5.430% due 06/25/2031 ~ |  | 9387 |  | 9722 |
|  5.975% due 12/25/2047 ~ |  | 91 |  | 92 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  0.000% due 10/15/2026 - 08/15/2057 (b)(f) |  | 11194 |  | 8575 |
|  0.000% due 01/15/2033 - 12/15/2042 •  |  | 4111 |  | 3560 |
|  0.000% due 03/25/2052 •(a) |  | 14348 |  | 265 |
|  0.163% due 07/15/2047 •(a) |  | 13840 |  | 405 |
|  0.320% due 02/15/2033 - 05/15/2033 •  |  | 3225 |  | 2858 |
|  0.501% due 05/15/2043 •  |  | 497 |  | 377 |
|  0.506% due 07/15/2037 - 08/15/2045 •  |  | 7022 |  | 5066 |
|  0.578% due 11/15/2048 •(a) |  | 101435 |  | 3921 |
|  0.713% due 08/15/2040 •(a) |  | 798 |  | 31 |
|  0.791% due 04/15/2043 •  |  | 361 |  | 245 |
|  0.796% due 10/15/2042 •  |  | 963 |  | 624 |
|  0.856% due 01/15/2043 •  |  | 1889 |  | 1013 |
|  0.860% due 11/15/2042 •  |  | 297 |  | 157 |
|  0.868% due 05/15/2041 •  |  | 782 |  | 757 |
|  1.036% due 03/15/2045 •  |  | 202 |  | 130 |
|  1.073% due 07/15/2043 •  |  | 12 |  | 7 |
|  1.213% due 04/15/2042 •(a) |  | 1189 |  | 61 |
|  1.248% due 12/15/2042 •  |  | 1145 |  | 912 |
|  1.250% due 01/15/2028 |  | 1774 |  | 1739 |
|  1.254% due 01/15/2033 •  |  | 4944 |  | 4587 |
|  1.375% due 12/15/2027 |  | 1120 |  | 1100 |
|  1.500% due 02/15/2028 |  | 3141 |  | 3081 |
|  1.638% due 09/25/2054 •(a) |  | 45216 |  | 3085 |
|  1.665% due 08/15/2048 ~(a) |  | 37151 |  | 1424 |
|  1.731% due 03/15/2050 ~(a) |  | 22621 |  | 991 |
|  1.738% due 11/25/2054 •(a) |  | 68672 |  | 3850 |
|  1.750% due 10/15/2032 |  | 1354 |  | 1272 |
|  1.775% due 12/15/2050 ~(a) |  | 36423 |  | 1573 |
|  1.860% due 10/15/2037 ~(a) |  | 162 |  | 7 |
|  1.919% due 10/15/2037 ~(a) |  | 140 |  | 7 |
|  1.944% due 05/15/2037 ~(a) |  | 105 |  | 6 |
|  2.000% due 04/25/2031 - 04/25/2051 (a) |  | 332679 |  | 39251 |
|  2.000% due 07/15/2041 |  | 508 |  | 483 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.024% due 03/15/2037 ~(a) | $— | 158 | $— | 8 |
|  2.046% due 10/15/2038 ~(a) |  | 1944 |  | 105 |
|  2.134% due 09/15/2041 •  |  | 478 |  | 324 |
|  2.142% due 01/15/2038 ~(a) |  | 1320 |  | 63 |
|  2.156% due 11/15/2036 ~(a) |  | 432 |  | 24 |
|  2.179% due 05/15/2035 •  |  | 187 |  | 188 |
|  2.192% due 11/15/2038 ~(a) |  | 465 |  | 25 |
|  2.213% due 10/15/2036 - 08/15/2042 •(a) |  | 15234 |  | 1580 |
|  2.224% due 04/25/2048 - 11/25/2049 •(a) |  | 19723 |  | 2482 |
|  2.250% due 05/15/2040 |  | 3851 |  | 3754 |
|  2.263% due 08/15/2041 - 11/15/2043 •(a) |  | 3408 |  | 398 |
|  2.267% due 08/15/2041 ~(a) |  | 140 |  | 8 |
|  2.274% due 04/25/2049 - 06/25/2050 •(a) |  | 56654 |  | 6970 |
|  2.288% due 06/15/2038 ~(a) |  | 364 |  | 21 |
|  2.313% due 12/15/2042 - 02/15/2044 •(a) |  | 6596 |  | 902 |
|  2.324% due 06/25/2050 - 08/25/2050 •(a) |  | 32449 |  | 4026 |
|  2.327% due 01/15/2041 •  |  | 495 |  | 454 |
|  2.338% due 10/25/2054 •(a) |  | 82786 |  | 7558 |
|  2.348% due 10/15/2041 ~(a) |  | 299 |  | 17 |
|  2.363% due 11/15/2042 - 10/15/2048 •(a) |  | 20800 |  | 2482 |
|  2.369% due 02/15/2038 ~(a) |  | 265 |  | 14 |
|  2.374% due 05/25/2050 - 06/25/2050 •(a) |  | 19801 |  | 2362 |
|  2.391% due 04/15/2047 •(a) |  | 5446 |  | 473 |
|  2.413% due 01/15/2033 - 06/15/2048 •(a) |  | 13085 |  | 1358 |
|  2.424% due 07/25/2050 •(a) |  | 21747 |  | 2965 |
|  2.436% due 08/15/2047 ~(a) |  | 7317 |  | 770 |
|  2.500% due 09/15/2027 - 12/25/2051 (a) |  | 336394 |  | 48811 |
|  2.513% due 08/15/2036 ~(a) |  | 182 |  | 13 |
|  2.529% due 12/15/2046 ~(a) |  | 32874 |  | 2853 |
|  2.638% due 12/25/2050 •(a) |  | 6450 |  | 949 |
|  2.643% due 02/15/2037 •(a) |  | 250 |  | 21 |
|  2.663% due 04/15/2032 •(a) |  | 492 |  | 21 |
|  2.745% due 10/15/2042 •  |  | 339 |  | 270 |
|  2.813% due 01/15/2041 •(a) |  | 197 |  | 19 |
|  2.863% due 02/15/2032 - 03/15/2035 •(a) |  | 95 |  | 6 |
|  2.913% due 09/15/2035 - 07/15/2042 •(a) |  | 1007 |  | 144 |
|  2.963% due 03/15/2037 •(a) |  | 311 |  | 27 |
|  3.000% due 05/15/2027 - 02/25/2052 (a) |  | 573177 |  | 94559 |
|  3.100% due 02/15/2041 •  |  | 77 |  | 63 |
|  3.500% due 02/15/2041 - 04/15/2054 |  | 10732 |  | 8610 |
|  3.500% due 02/25/2041 - 03/25/2052 (a) |  | 304338 |  | 52711 |
|  4.000% due 02/15/2031 - 08/15/2042 |  | 2176 |  | 2012 |
|  4.000% due 03/15/2042 - 06/25/2051 (a) |  | 99920 |  | 22071 |
|  4.000% due 03/25/2052 •  |  | 6217 |  | 5781 |
|  4.087% due 08/15/2047 •  |  | 1480 |  | 1442 |
|  4.146% due 10/15/2038 •  |  | 1456 |  | 1438 |
|  4.187% due 08/15/2036 - 08/15/2057 •  |  | 23391 |  | 22799 |
|  4.213% due 06/15/2031 •(a) |  | 38 |  | 3 |
|  4.287% due 03/15/2044 •  |  | 1246 |  | 1235 |
|  4.337% due 11/15/2040 •  |  | 1283 |  | 1275 |
|  4.462% due 10/25/2052 •  |  | 56658 |  | 56302 |
|  4.500% due 12/15/2033 - 11/15/2040 |  | 444 |  | 442 |
|  4.500% due 07/15/2042 - 10/25/2051 (a) |  | 144549 |  | 33645 |
|  4.532% due 12/25/2055 •  |  | 10719 |  | 10719 |
|  4.562% due 12/25/2055 •  |  | 432 |  | 433 |
|  4.581% due 04/15/2049 - 12/15/2050 •  |  | 5427 |  | 5419 |
|  4.612% due 10/25/2054 •  |  | 2266 |  | 2282 |
|  4.632% due 08/25/2054 •  |  | 18066 |  | 18190 |
|  4.642% due 02/25/2055 •  |  | 15112 |  | 15220 |

---

---

| | | |
|:---|:---|:---|
| **168** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.662% due 09/25/2054 - 02/25/2055 •  | $— | 64721 | $— | 65253 |
|  4.672% due 03/25/2055 •  |  | 36600 |  | 36414 |
|  4.681% due 08/15/2048 •  |  | 11107 |  | 11205 |
|  4.712% due 08/25/2055 - 11/25/2055 •  |  | 13956 |  | 14025 |
|  4.762% due 10/25/2054 - 11/25/2054 •  |  | 97543 |  | 97878 |
|  4.782% due 08/25/2054 •  |  | 2341 |  | 2357 |
|  4.812% due 10/25/2054 - 08/25/2055 •  |  | 11709 |  | 11804 |
|  4.862% due 12/25/2054 - 08/25/2055 •  |  | 12920 |  | 13050 |
|  4.912% due 11/25/2052 - 09/25/2055 •  |  | 48521 |  | 48681 |
|  4.962% due 11/25/2054 - 12/25/2054 •  |  | 148408 |  | 149167 |
|  5.000% due 05/25/2048 - 10/25/2054 (a) |  | 73631 |  | 15570 |
|  5.012% due 08/25/2054 •  |  | 3703 |  | 3731 |
|  5.062% due 10/25/2054 •  |  | 478 |  | 481 |
|  5.092% due 10/25/2054 •  |  | 145 |  | 147 |
|  5.112% due 02/25/2055 •  |  | 20263 |  | 20467 |
|  5.262% due 02/25/2055 •  |  | 64 |  | 65 |
|  5.427% due 05/15/2033 •  |  | 2 |  | 2 |
|  5.500% due 02/15/2033 - 05/15/2036 |  | 184 |  | 188 |
|  5.500% due 05/15/2041 •  |  | 18 |  | 18 |
|  5.592% due 06/25/2055 •  |  | 140 |  | 142 |
|  5.862% due 05/15/2033 •  |  | 5 |  | 5 |
|  6.000% due 07/15/2035 |  | 689 |  | 734 |
|  6.000% due 03/15/2044 (a) |  | 332 |  | 57 |
|  6.654% due 10/15/2033 •  |  | 86 |  | 90 |
|  7.500% due 06/15/2042 •  |  | 564 |  | 538 |
|  7.687% due 11/15/2034 •  |  | 4 |  | 4 |
|  Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust | Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust | Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust | Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust | Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust |
|  4.250% due 08/25/2059 - 11/25/2059 ~ |  | 10615 |  | 10364 |
|  4.500% due 02/25/2059 ~ |  | 26953 |  | 26219 |
|  Federal Home Loan Mortgage Corp. STACR REMICS Trust | Federal Home Loan Mortgage Corp. STACR REMICS Trust | Federal Home Loan Mortgage Corp. STACR REMICS Trust | Federal Home Loan Mortgage Corp. STACR REMICS Trust | Federal Home Loan Mortgage Corp. STACR REMICS Trust |
|  5.312% due 01/25/2034 •  |  | 432 |  | 432 |
|  6.562% due 04/25/2042 •  |  | 10900 |  | 11100 |
|  Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS | Federal Home Loan Mortgage Corp. STRIPS |
|  0.000% due 06/01/2026 - 12/15/2036 (b)(f) |  | 642 |  | 578 |
|  2.000% due 06/25/2051 - 06/25/2052 (a) |  | 560752 |  | 69352 |
|  2.103% due 09/15/2043 •(a) |  | 6745 |  | 667 |
|  2.263% due 09/15/2044 •(a) |  | 2051 |  | 208 |
|  2.500% due 01/25/2051 - 10/15/2052 (a) |  | 233650 |  | 34426 |
|  3.000% due 12/15/2032 - 10/15/2052 (a) |  | 152172 |  | 24783 |
|  3.000% due 05/15/2034 ~(a) |  | 207 |  | 9 |
|  3.096% due 12/15/2027 ~(a) |  | 59 |  | 1 |
|  3.500% due 01/15/2043 - 10/15/2052 (a) |  | 98443 |  | 17412 |
|  3.500% due 10/15/2047 ~(a) |  | 577 |  | 99 |
|  4.000% due 12/15/2043 - 06/15/2050 (a) |  | 23932 |  | 4224 |
|  4.000% due 05/15/2049 ~(a) |  | 345 |  | 48 |
|  5.000% due 09/15/2046 ~(a) |  | 458 |  | 69 |
|  5.000% due 11/15/2052 - 08/25/2055 (a) |  | 299379 |  | 64639 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  3.083% due 12/25/2036 •  |  | 17229 |  | 13311 |
|  Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust | Federal Home Loan Mortgage Corp. Whole Loan Securities Trust |
|  3.000% due 09/25/2045 - 12/25/2046 |  | 2163 |  | 1876 |
|  3.500% due 12/25/2046 |  | 1620 |  | 1428 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  2.100% due 01/01/2047 •  |  | 98 |  | 99 |
|  2.500% due 01/01/2033 (g) |  | 3494 |  | 3330 |
|  2.500% due 01/01/2033 |  | 742 |  | 707 |
|  3.000% due 01/01/2038 - 07/01/2060 (g) |  | 329592 |  | 292994 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  3.000% due 04/01/2038 - 06/01/2051 | $— | 7182 | $— | 6495 |
|  3.020% due 03/01/2028 (g) |  | 6617 |  | 6496 |
|  3.281% due 05/01/2047 •  |  | 494 |  | 503 |
|  3.290% due 04/01/2027 - 03/01/2028 (g) |  | 70774 |  | 70074 |
|  3.430% due 05/01/2028 (g) |  | 9728 |  | 9619 |
|  3.430% due 03/01/2033 |  | 949 |  | 900 |
|  3.500% due 10/01/2034 - 06/01/2051 (g) |  | 92327 |  | 86652 |
|  3.500% due 03/01/2038 - 04/01/2050 |  | 4203 |  | 3951 |
|  3.725% due 06/01/2048 •  |  | 127 |  | 126 |
|  3.975% due 06/01/2048 •  |  | 107 |  | 106 |
|  4.000% due 06/01/2033 - 07/01/2053 |  | 68374 |  | 65979 |
|  4.000% due 04/01/2037 - 05/01/2049 (g) |  | 150280 |  | 145186 |
|  4.140% due 04/01/2028 (g) |  | 10478 |  | 10484 |
|  4.270% due 11/01/2032 (g) |  | 14270 |  | 14176 |
|  4.280% due 11/01/2032 (g) |  | 11129 |  | 11063 |
|  4.300% due 12/01/2029 - 12/01/2032 (g) |  | 388022 |  | 384993 |
|  4.320% due 06/01/2028 (g) |  | 3139 |  | 3154 |
|  4.320% due 06/01/2028 |  | 2312 |  | 2323 |
|  4.350% due 12/01/2032 (g) |  | 6018 |  | 6001 |
|  4.374% due 02/01/2028 ~(g) |  | 24932 |  | 24884 |
|  4.385% due 07/01/2030 - 04/01/2033 (g) |  | 13948 |  | 13869 |
|  4.440% due 06/01/2033 (g) |  | 12320 |  | 12315 |
|  4.470% due 12/01/2032 (g) |  | 2849 |  | 2854 |
|  4.490% due 10/01/2030 |  | 1740 |  | 1755 |
|  4.490% due 04/01/2033 - 05/01/2033 (g) |  | 11905 |  | 11919 |
|  4.500% due 06/01/2030 - 01/01/2055 |  | 12888 |  | 12719 |
|  4.500% due 12/01/2038 - 04/01/2059 (g) |  | 63314 |  | 62027 |
|  4.530% due 06/01/2033 (g) |  | 3145 |  | 3166 |
|  4.550% due 05/01/2028 |  | 1272 |  | 1282 |
|  4.560% due 12/01/2029 (g) |  | 4973 |  | 5026 |
|  4.580% due 08/01/2033 (g) |  | 7368 |  | 7453 |
|  4.640% due 09/01/2028 (g) |  | 4884 |  | 4935 |
|  4.650% due 03/01/2036 |  | 5134 |  | 5122 |
|  4.700% due 04/01/2033 (g) |  | 17842 |  | 18067 |
|  4.740% due 05/01/2033 |  | 2118 |  | 2155 |
|  4.815% due 09/01/2028 (g) |  | 14232 |  | 14433 |
|  4.840% due 07/01/2033 |  | 1500 |  | 1539 |
|  4.900% due 10/01/2028 (g) |  | 3038 |  | 3086 |
|  4.990% due 03/01/2031 (g) |  | 7823 |  | 7990 |
|  5.000% due 11/01/2033 - 03/01/2056 |  | 73860 |  | 73685 |
|  5.000% due 04/01/2043 - 02/01/2056 (g) |  | 88145 |  | 88044 |
|  5.110% due 08/01/2033 |  | 1066 |  | 1105 |
|  5.170% due 05/01/2031 (g) |  | 2820 |  | 2926 |
|  5.200% due 10/01/2030 (g) |  | 3954 |  | 4095 |
|  5.230% due 10/01/2028 (g) |  | 8806 |  | 9024 |
|  5.500% due 11/01/2036 - 12/01/2055 |  | 42461 |  | 43319 |
|  5.500% due 11/01/2039 - 12/01/2055 (g) |  | 314525 |  | 320911 |
|  5.570% due 10/01/2028 (g) |  | 3683 |  | 3703 |
|  5.590% due 10/01/2031 |  | 2205 |  | 2331 |
|  5.610% due 10/01/2028 |  | 3035 |  | 3051 |
|  5.753% due 12/01/2034 •(g) |  | 88 |  | 90 |
|  5.810% due 06/01/2031 (g) |  | 65600 |  | 66703 |
|  5.818% due 01/01/2035 •(g) |  | 137 |  | 142 |
|  5.910% due 10/01/2028 |  | 904 |  | 939 |
|  6.000% due 04/01/2044 - 01/01/2056 |  | 103100 |  | 106768 |
|  6.000% due 12/01/2052 - 12/01/2055 (g) |  | 596937 |  | 617588 |
|  6.083% due 08/01/2049 •(g) |  | 1336 |  | 1388 |
|  6.140% due 12/01/2048 •(g) |  | 366 |  | 381 |
|  6.175% due 06/01/2035 •  |  | 7 |  | 7 |
|  6.178% due 01/01/2035 •  |  | 74 |  | 76 |
|  6.280% due 09/01/2043 •(g) |  | 495 |  | 514 |
|  6.500% due 05/01/2045 - 09/01/2055 (g) |  | 336201 |  | 352731 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.500% due 09/01/2053 - 10/01/2055 | $— | 29243 | $— | 30702 |
|  7.000% due 06/01/2054 - 07/01/2054 |  | 1641 |  | 1736 |
|  Federal National Mortgage Association Connecticut Avenue Securities Trust | Federal National Mortgage Association Connecticut Avenue Securities Trust | Federal National Mortgage Association Connecticut Avenue Securities Trust | Federal National Mortgage Association Connecticut Avenue Securities Trust | Federal National Mortgage Association Connecticut Avenue Securities Trust |
|  6.762% due 03/25/2042 •  |  | 3750 |  | 3804 |
|  Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust |
|  5.426% due 08/25/2043 ~ |  | 12 |  | 12 |
|  Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS | Federal National Mortgage Association Interest STRIPS |
|  0.000% due 01/25/2033 - 10/25/2040 (b)(f) |  | 577 |  | 488 |
|  1.500% due 04/25/2037 - 01/25/2052 (a) |  | 48629 |  | 2978 |
|  2.000% due 07/25/2037 - 08/25/2052 (a) |  | 381536 |  | 44892 |
|  2.500% due 06/25/2052 - 08/25/2052 (a) |  | 78680 |  | 11976 |
|  3.000% due 02/25/2028 - 08/25/2052 (a) |  | 105433 |  | 16950 |
|  3.500% due 08/25/2043 - 11/25/2048 (a) |  | 39140 |  | 6861 |
|  4.000% due 10/25/2053 (a) |  | 42339 |  | 8901 |
|  5.000% due 08/25/2053 - 05/25/2055 (a) |  | 388776 |  | 82226 |
|  5.500% due 02/25/2029 - 05/25/2055 (a) |  | 86509 |  | 17927 |
|  5.500% due 01/25/2032 ~(a) |  | 48 |  | 4 |
|  6.000% due 04/25/2032 - 05/25/2055 (a) |  | 79700 |  | 17837 |
|  6.500% due 04/25/2038 (a) |  | 149 |  | 33 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  0.000% due 10/25/2033 - 05/25/2048 (b)(f) |  | 10965 |  | 8289 |
|  0.000% due 01/25/2043 - 05/25/2051 •  |  | 8025 |  | 2995 |
|  0.000% due 05/25/2051 - 02/25/2052 •(a) |  | 519546 |  | 1633 |
|  0.174% due 08/25/2047 •(a) |  | 19110 |  | 564 |
|  0.200% due 02/25/2043 •(a) |  | 2772 |  | 15 |
|  0.224% due 01/25/2033 •  |  | 3153 |  | 2849 |
|  0.283% due 01/25/2044 ~(a) |  | 931 |  | 7 |
|  0.289% due 06/25/2043 •(a) |  | 3624 |  | 149 |
|  0.335% due 07/25/2043 •  |  | 347 |  | 210 |
|  0.374% due 02/25/2033 •  |  | 1229 |  | 1075 |
|  0.506% due 11/25/2042 - 10/25/2045 •  |  | 2263 |  | 1809 |
|  0.868% due 03/25/2043 •  |  | 8723 |  | 7314 |
|  1.085% due 01/25/2043 •  |  | 38 |  | 31 |
|  1.168% due 03/25/2033 •  |  | 9170 |  | 8470 |
|  1.217% due 03/25/2047 •  |  | 256 |  | 167 |
|  1.224% due 06/25/2050 •(a) |  | 7730 |  | 600 |
|  1.255% due 12/25/2042 - 10/25/2043 •  |  | 2644 |  | 2096 |
|  1.400% due 06/25/2028 |  | 2662 |  | 2600 |
|  1.500% due 02/25/2028 - 04/25/2028 |  | 4875 |  | 4784 |
|  1.500% due 11/25/2035 - 08/25/2037 (a) |  | 316185 |  | 16069 |
|  1.588% due 09/25/2054 •(a) |  | 82182 |  | 5391 |
|  1.696% due 12/25/2050 ~(a) |  | 43387 |  | 2108 |
|  1.754% due 01/25/2051 ~(a) |  | 82646 |  | 3637 |
|  1.824% due 06/25/2044 •(a) |  | 2107 |  | 106 |
|  1.868% due 10/25/2046 ~(a) |  | 158 |  | 7 |
|  1.875% due 07/25/2044 ~(a) |  | 465 |  | 18 |
|  1.877% due 07/25/2052 ~(a) |  | 462 |  | 21 |
|  1.944% due 04/25/2046 ~(a) |  | 469 |  | 22 |
|  1.979% due 09/25/2045 ~(a) |  | 319 |  | 12 |
|  1.980% due 07/25/2044 ~(a) |  | 658 |  | 42 |
|  2.000% due 07/25/2041 - 12/25/2042 |  | 229 |  | 187 |
|  2.000% due 10/25/2050 - 07/25/2052 (a) |  | 314856 |  | 39856 |
|  2.067% due 07/25/2045 ~(a) |  | 10771 |  | 595 |
|  2.068% due 03/25/2060 ~(a) |  | 9218 |  | 665 |
|  2.070% due 04/25/2055 ~(a) |  | 770 |  | 36 |
|  2.072% due 03/25/2045 ~(a) |  | 1053 |  | 57 |
|  2.130% due 01/25/2045 ~(a) |  | 387 |  | 21 |
|  2.173% due 08/25/2054 ~(a) |  | 334 |  | 17 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **169** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.174% due 10/25/2043 - 01/25/2050 •(a) | $— | 10117 | $— | 1481 |
|  2.184% due 12/25/2036 •(a) |  | 234 |  | 17 |
|  2.220% due 06/25/2052 ~(a) |  | 10243 |  | 706 |
|  2.224% due 05/25/2046 - 11/25/2049 •(a) |  | 63073 |  | 7521 |
|  2.234% due 11/25/2041 •  |  | 751 |  | 522 |
|  2.244% due 09/25/2049 •(a) |  | 3590 |  | 419 |
|  2.274% due 10/25/2042 - 07/25/2059 •(a) |  | 53582 |  | 5848 |
|  2.291% due 08/25/2044 ~(a) |  | 387 |  | 28 |
|  2.324% due 06/25/2037 - 07/25/2050 •(a) |  | 47819 |  | 5874 |
|  2.360% due 02/25/2062 ~(a) |  | 14485 |  | 1211 |
|  2.373% due 09/25/2061 ~(a) |  | 5637 |  | 486 |
|  2.374% due 09/25/2041 - 01/25/2049 •(a) |  | 17272 |  | 1801 |
|  2.398% due 08/25/2055 ~(a) |  | 446 |  | 20 |
|  2.418% due 06/25/2048 ~ |  | 1667 |  | 190 |
|  2.423% due 08/25/2033 •  |  | 253 |  | 239 |
|  2.424% due 11/25/2044 - 05/25/2048 •(a) |  | 21761 |  | 2750 |
|  2.424% due 05/25/2048 •  |  | 4458 |  | 3583 |
|  2.438% due 10/25/2054 •(a) |  | 36510 |  | 3677 |
|  2.474% due 08/25/2041 - 02/25/2043 •(a) |  | 9031 |  | 717 |
|  2.500% due 12/25/2027 - 10/25/2052 (a) |  | 884001 |  | 129776 |
|  2.500% due 01/25/2034 |  | 2004 |  | 1977 |
|  2.547% due 06/25/2043 •  |  | 1953 |  | 1587 |
|  2.654% due 03/25/2042 •(a) |  | 687 |  | 102 |
|  2.824% due 09/25/2040 - 09/25/2042 •(a) |  | 3206 |  | 475 |
|  2.874% due 05/25/2036 •(a) |  | 575 |  | 65 |
|  2.924% due 08/25/2040 •(a) |  | 10 |  | 0 |
|  2.974% due 09/25/2039 •(a) |  | 43 |  | 4 |
|  3.000% due 11/25/2027 - 10/25/2052 (a) |  | 529132 |  | 84027 |
|  3.000% due 06/25/2033 - 05/25/2048 |  | 3820 |  | 3455 |
|  3.024% due 12/25/2032 - 11/25/2036 •(a) |  | 1018 |  | 113 |
|  3.124% due 04/25/2038 •(a) |  | 232 |  | 20 |
|  3.324% due 10/25/2034 •(a) |  | 269 |  | 9 |
|  3.438% due 09/25/2054 •(a) |  | 69714 |  | 5906 |
|  3.500% due 10/25/2027 - 04/25/2053 (a) |  | 251931 |  | 44471 |
|  3.500% due 05/25/2039 - 10/25/2042 |  | 1247 |  | 1175 |
|  3.625% due 05/25/2039 |  | 1670 |  | 1664 |
|  3.750% due 05/25/2033 - 01/25/2044 |  | 17 |  | 16 |
|  3.878% due 01/25/2041 •  |  | 1584 |  | 1608 |
|  3.924% due 08/25/2034 •(a) |  | 88 |  | 5 |
|  3.962% due 11/25/2050 •  |  | 2475 |  | 2385 |
|  4.000% due 01/25/2033 - 03/25/2053 (a) |  | 171761 |  | 34992 |
|  4.000% due 11/25/2040 - 05/25/2050 |  | 9142 |  | 7705 |
|  4.076% due 12/25/2047 - 09/25/2050 •  |  | 36901 |  | 35758 |
|  4.126% due 09/25/2044 •  |  | 3010 |  | 2961 |
|  4.146% due 08/25/2044 •  |  | 1176 |  | 1163 |
|  4.176% due 03/25/2042 - 05/25/2045 •  |  | 2640 |  | 2591 |
|  4.196% due 03/25/2049 •  |  | 376 |  | 373 |
|  4.221% due 02/25/2037 •  |  | 124 |  | 123 |
|  4.226% due 09/25/2049 - 07/25/2059 •  |  | 5100 |  | 5005 |
|  4.236% due 12/25/2046 •  |  | 728 |  | 721 |
|  4.246% due 09/25/2046 - 11/25/2059 •  |  | 5581 |  | 5500 |
|  4.326% due 12/25/2040 •  |  | 498 |  | 496 |
|  4.446% due 05/25/2050 •  |  | 1643 |  | 1637 |
|  4.461% due 12/25/2047 •  |  | 1928 |  | 1930 |
|  4.462% due 06/25/2055 •  |  | 36151 |  | 35888 |
|  4.481% due 01/25/2051 •  |  | 7557 |  | 7588 |
|  4.500% due 03/25/2040 |  | 12 |  | 12 |
|  4.500% due 11/25/2044 - 09/25/2053 (a) |  | 127349 |  | 29107 |
|  4.581% due 12/25/2050 •  |  | 1614 |  | 1608 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.612% due 11/25/2053 •  | $— | 2366 | $— | 2380 |
|  4.616% due 04/25/2048 •  |  | 917 |  | 924 |
|  4.626% due 07/25/2038 •  |  | 70 |  | 71 |
|  4.632% due 08/25/2054 •  |  | 3431 |  | 3450 |
|  4.662% due 01/25/2054 •  |  | 49911 |  | 50244 |
|  4.672% due 03/25/2055 •  |  | 13500 |  | 13462 |
|  4.673% due 07/25/2055 •  |  | 25400 |  | 25326 |
|  4.712% due 12/25/2055 •  |  | 9445 |  | 9469 |
|  4.762% due 05/25/2054 - 07/25/2055 •  |  | 134441 |  | 134909 |
|  4.812% due 08/25/2055 •  |  | 24512 |  | 24705 |
|  4.842% due 08/25/2055 •  |  | 386 |  | 389 |
|  4.862% due 12/25/2054 - 11/25/2055 •  |  | 10878 |  | 10976 |
|  4.912% due 11/25/2052 - 09/25/2055 •  |  | 79929 |  | 80204 |
|  5.000% due 04/25/2035 - 07/25/2040 |  | 129 |  | 126 |
|  5.000% due 10/25/2054 (a) |  | 38612 |  | 8260 |
|  5.062% due 02/25/2055 •  |  | 1885 |  | 1893 |
|  5.107% due 03/25/2040 •  |  | 52 |  | 52 |
|  5.212% due 06/25/2055 •  |  | 14446 |  | 14624 |
|  5.500% due 12/25/2034 - 06/25/2036 |  | 751 |  | 770 |
|  6.000% due 02/25/2034 |  | 43 |  | 45 |
|  7.000% due 11/25/2039 - 03/25/2049 |  | 69 |  | 72 |
|  10.414% due 12/25/2036 •  |  | 22 |  | 24 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  0.037% due 07/25/2044 ~(a) |  | 13986 |  | 111 |
|  2.180% due 10/25/2046 ~(a) |  | 3217 |  | 153 |
|  2.674% due 09/25/2037 •(a) |  | 1310 |  | 78 |
|  5.199% due 05/25/2042 ~ |  | 11 |  | 11 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) |  | 9708 |  | 443 |
|  6.300% due 06/25/2031 ~ |  | 10 |  | 10 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  0.000% due 04/16/2053 ~(a) |  | 200 |  | 0 |
|  0.022% due 08/16/2048 ~(a) |  | 1671 |  | 0 |
|  0.300% due 05/16/2050 ~(a) |  | 607 |  | 1 |
|  1.815% due 05/16/2053 ~(a) |  | 42 |  | 1 |
|  2.000% due 03/20/2052 |  | 7583 |  | 6273 |
|  3.000% due 09/20/2046 - 02/20/2056 |  | 27411 |  | 24524 |
|  3.000% due 11/20/2046 - 02/20/2053 (g) |  | 125106 |  | 112225 |
|  3.500% due 03/20/2042 - 03/20/2056 |  | 195226 |  | 179378 |
|  3.500% due 10/20/2047 - 07/20/2055 (g) |  | 1025751 |  | 943344 |
|  4.000% due 07/20/2039 - 04/20/2055 |  | 3659 |  | 3495 |
|  4.000% due 01/20/2045 - 07/15/2048 (g) |  | 4340 |  | 4198 |
|  4.500% due 09/15/2038 - 09/20/2048 (g) |  | 54850 |  | 54192 |
|  4.500% due 07/20/2039 - 07/20/2048 |  | 3239 |  | 3174 |
|  5.000% due 08/20/2034 - 01/20/2049 |  | 669 |  | 666 |
|  5.000% due 06/20/2049 (g) |  | 6046 |  | 6133 |
|  5.125% due 10/20/2044 •(g) |  | 478 |  | 490 |
|  5.375% due 08/20/2045 •(g) |  | 374 |  | 381 |
|  5.500% due 02/20/2034 - 04/20/2040 |  | 32 |  | 32 |
|  5.500% due 12/20/2038 - 01/20/2039 (g) |  | 51 |  | 50 |
|  6.000% due 07/20/2038 - 06/20/2041 |  | 168 |  | 175 |
|  6.500% due 03/15/2035 (g) |  | 175 |  | 180 |
|  6.500% due 01/20/2055 - 03/20/2055 |  | 495 |  | 515 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  0.000% due 03/20/2035 - 06/16/2043 (b)(f) |  | 3074 |  | 2679 |
|  0.000% due 10/20/2047 - 02/20/2049 •(a) |  | 32574 |  | 494 |
|  0.144% due 12/20/2042 ~ |  | 269 |  | 221 |
|  0.508% due 09/20/2045 •  |  | 323 |  | 210 |
|  1.089% due 06/20/2045 •  |  | 981 |  | 646 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  1.202% due 11/20/2045 ~(a) | $— | 686 | $— | 29 |
|  1.207% due 09/20/2045 ~(a) |  | 987 |  | 42 |
|  1.236% due 12/20/2045 ~(a) |  | 598 |  | 28 |
|  1.244% due 06/20/2046 ~(a) |  | 1640 |  | 76 |
|  1.248% due 08/20/2045 - 11/20/2046 ~(a) |  | 3412 |  | 190 |
|  1.270% due 01/20/2047 ~(a) |  | 3053 |  | 175 |
|  1.277% due 06/20/2043 ~(a) |  | 1875 |  | 92 |
|  1.285% due 08/20/2047 ~(a) |  | 2561 |  | 122 |
|  1.290% due 10/20/2046 ~(a) |  | 2622 |  | 134 |
|  1.294% due 05/20/2047 ~(a) |  | 4415 |  | 225 |
|  1.307% due 08/20/2045 •  |  | 774 |  | 677 |
|  1.315% due 11/20/2046 ~(a) |  | 235 |  | 18 |
|  1.320% due 07/20/2046 ~(a) |  | 2845 |  | 168 |
|  1.388% due 05/20/2040 ~(a) |  | 2742 |  | 124 |
|  1.404% due 07/20/2041 ~(a) |  | 860 |  | 48 |
|  1.405% due 04/20/2043 ~(a) |  | 4300 |  | 257 |
|  1.489% due 06/20/2042 ~(a) |  | 688 |  | 39 |
|  1.539% due 06/20/2042 ~(a) |  | 648 |  | 29 |
|  1.750% due 05/20/2049 •(a) |  | 3737 |  | 299 |
|  1.760% due 09/20/2043 •(a) |  | 668 |  | 13 |
|  1.760% due 01/20/2044 •  |  | 967 |  | 500 |
|  2.000% due 01/20/2051 (a) |  | 18426 |  | 2074 |
|  2.021% due 12/20/2040 •  |  | 749 |  | 709 |
|  2.260% due 04/20/2046 - 09/20/2049 •(a) |  | 32626 |  | 3744 |
|  2.263% due 06/16/2039 •(a) |  | 565 |  | 30 |
|  2.310% due 01/20/2035 - 12/20/2048 •(a) |  | 5147 |  | 381 |
|  2.313% due 11/16/2034 •(a) |  | 178 |  | 1 |
|  2.330% due 12/20/2035 •(a) |  | 7097 |  | 163 |
|  2.410% due 09/20/2048 •(a) |  | 1060 |  | 163 |
|  2.413% due 03/16/2035 •(a) |  | 587 |  | 2 |
|  2.436% due 11/20/2046 •  |  | 25 |  | 23 |
|  2.460% due 04/20/2048 •  |  | 4252 |  | 4092 |
|  2.500% due 09/20/2050 (a) |  | 2948 |  | 80 |
|  2.663% due 02/16/2040 •(a) |  | 1104 |  | 76 |
|  2.910% due 05/20/2041 •(a) |  | 537 |  | 37 |
|  3.000% due 02/20/2043 - 06/20/2046 (a) |  | 1950 |  | 103 |
|  3.000% due 08/20/2051 - 11/20/2067 |  | 11084 |  | 8586 |
|  3.500% due 11/20/2042 - 09/20/2046 (a) |  | 5521 |  | 858 |
|  3.500% due 02/20/2043 - 12/20/2068 |  | 34989 |  | 25298 |
|  3.500% due 01/20/2069 ~ |  | 1068 |  | 1037 |
|  3.973% due 09/20/2073 •  |  | 2315 |  | 2306 |
|  4.000% due 10/16/2044 (a) |  | 645 |  | 73 |
|  4.040% due 03/20/2041 •  |  | 300 |  | 295 |
|  4.083% due 05/20/2068 •  |  | 195 |  | 194 |
|  4.173% due 03/20/2073 •  |  | 32317 |  | 32114 |
|  4.183% due 11/20/2070 •  |  | 4430 |  | 4394 |
|  4.233% due 11/20/2060 - 11/20/2070 •  |  | 12156 |  | 12126 |
|  4.240% due 02/20/2049 •  |  | 1007 |  | 990 |
|  4.246% due 03/20/2068 •  |  | 244 |  | 245 |
|  4.276% due 02/20/2068 •  |  | 503 |  | 504 |
|  4.283% due 03/20/2061 - 07/20/2067 •  |  | 82 |  | 81 |
|  4.298% due 10/20/2062 •  |  | 20 |  | 20 |
|  4.303% due 08/20/2062 •  |  | 61 |  | 61 |
|  4.323% due 07/20/2063 - 05/20/2074 •  |  | 2955 |  | 2959 |
|  4.363% due 02/20/2053 •  |  | 53366 |  | 53241 |
|  4.373% due 02/20/2053 - 02/20/2074 •  |  | 15852 |  | 15817 |
|  4.383% due 08/20/2065 - 10/20/2069 •  |  | 1242 |  | 1244 |
|  4.403% due 01/20/2073 •  |  | 24566 |  | 24620 |
|  4.423% due 02/20/2053 - 01/20/2076 •  |  | 104941 |  | 105556 |
|  4.433% due 11/20/2074 •  |  | 924 |  | 931 |
|  4.443% due 12/20/2065 •  |  | 126 |  | 126 |
|  4.463% due 02/20/2073 - 04/20/2074 •  |  | 23504 |  | 23622 |
|  4.473% due 09/20/2055 - 02/20/2076 •  |  | 115396 |  | 116302 |
|  4.483% due 04/20/2062 •  |  | 447 |  | 449 |
|  4.493% due 12/20/2071 •  |  | 2220 |  | 2231 |
|  4.496% due 03/20/2069 •  |  | 240 |  | 243 |

---

---

| | | |
|:---|:---|:---|
| **170** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.500% due 12/16/2041 - 05/20/2043 (a) | $— | 695 | $— | 97 |
|  4.513% due 04/20/2075 •  |  | 20581 |  | 20737 |
|  4.523% due 12/20/2053 - 07/20/2074 •  |  | 120193 |  | 120566 |
|  4.533% due 11/20/2065 - 03/20/2073 •  |  | 34286 |  | 34670 |
|  4.543% due 01/20/2073 •  |  | 1519 |  | 1538 |
|  4.553% due 02/20/2073 - 03/20/2073 •  |  | 20051 |  | 20233 |
|  4.562% due 02/20/2069 •  |  | 769 |  | 775 |
|  4.573% due 01/20/2073 - 07/20/2074 •  |  | 283947 |  | 288075 |
|  4.583% due 07/20/2066 •  |  | 43 |  | 43 |
|  4.603% due 01/20/2074 - 08/20/2074 •  |  | 34769 |  | 35371 |
|  4.623% due 11/20/2055 - 10/20/2073 •  |  | 52072 |  | 52897 |
|  4.633% due 08/20/2073 •  |  | 13442 |  | 13662 |
|  4.643% due 08/20/2073 •  |  | 22532 |  | 22878 |
|  4.653% due 09/20/2073 •  |  | 10019 |  | 10174 |
|  4.673% due 08/20/2054 - 12/20/2073 •  |  | 131310 |  | 132599 |
|  4.683% due 09/20/2069 •  |  | 479 |  | 482 |
|  4.712% due 10/20/2067 •  |  | 405 |  | 407 |
|  4.773% due 03/20/2073 - 06/20/2073 •  |  | 175174 |  | 178380 |
|  4.793% due 08/20/2073 •  |  | 7106 |  | 7231 |
|  4.823% due 09/20/2054 - 05/20/2073 •  |  | 8344 |  | 8437 |
|  4.827% due 08/20/2067 •  |  | 95 |  | 96 |
|  4.853% due 09/20/2054 •  |  | 2153 |  | 2164 |
|  4.873% due 08/20/2055 •  |  | 292 |  | 293 |
|  4.927% due 08/20/2068 •  |  | 3105 |  | 3130 |
|  4.933% due 05/20/2070 •  |  | 437 |  | 445 |
|  5.000% due 05/16/2043 (a) |  | 393 |  | 51 |
|  5.161% due 07/20/2066 •  |  | 71 |  | 71 |
|  5.173% due 03/20/2071 - 08/20/2071 •  |  | 12963 |  | 13282 |
|  5.592% due 04/20/2067 •  |  | 1363 |  | 1381 |
|  5.761% due 10/20/2045 •  |  | 337 |  | 351 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  2.000% due 05/01/2056 |  | 59425 |  | 49074 |
|  2.500% due 05/01/2056 |  | 116200 |  | 99923 |
|  3.000% due 04/01/2056 |  | 9000 |  | 8036 |
|  3.500% due 03/01/2056 |  | 271000 |  | 248691 |
|  4.500% due 06/01/2040 - 05/01/2056 |  | 753816 |  | 727288 |
|  5.000% due 06/01/2040 - 05/01/2056 |  | 438500 |  | 433106 |
|  5.500% due 06/01/2040 - 05/01/2056 |  | 57000 |  | 57207 |
|  6.000% due 04/01/2056 - 05/01/2056 |  | 38500 |  | 39121 |
|  6.500% due 05/01/2056 |  | 373700 |  | 387295 |
|  Seasoned Loans Structured Transaction Trust | Seasoned Loans Structured Transaction Trust | Seasoned Loans Structured Transaction Trust | Seasoned Loans Structured Transaction Trust | Seasoned Loans Structured Transaction Trust |
|  4.632% due 05/25/2034 •  |  | 38577 |  | 39048 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  1.500% due 05/01/2056 |  | 7800 |  | 6018 |
|  3.000% due 04/01/2056 - 05/01/2056 |  | 128700 |  | 113062 |
|  3.500% due 04/01/2041 |  | 15100 |  | 14538 |
|  4.000% due 04/01/2041 - 06/01/2056 |  | 970200 |  | 916899 |
|  4.500% due 04/01/2041 - 05/01/2056 |  | 932200 |  | 900400 |
|  5.000% due 04/01/2041 - 06/01/2056 |  | 3412080 |  | 3362462 |
|  5.500% due 04/01/2056 - 05/01/2056 |  | 403732 |  | 405597 |
|  6.000% due 05/01/2056 - 07/01/2056 |  | 932736 |  | 949327 |
|  6.500% due 05/01/2056 - 06/01/2056 |  | 559238 |  | 578077 |
|  Total U.S. Government Agencies (Cost $20,386,587) | Total U.S. Government Agencies (Cost $20,386,587) | Total U.S. Government Agencies (Cost $20,386,587) |  | 20146718 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. TREASURY OBLIGATIONS 0.3% | U.S. TREASURY OBLIGATIONS 0.3% | U.S. TREASURY OBLIGATIONS 0.3% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  4.875% due 08/15/2045 | 7037 | 7016 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  2.250% due 08/15/2027 (g)(i)(k) | 21700 | 21245 |
|  4.250% due 08/15/2035 (i)(k) | 11170 | 11130 |
|  Total U.S. Treasury Obligations (Cost $40,692) | Total U.S. Treasury Obligations (Cost $40,692) | 39391 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 26.2% | NON-AGENCY MORTGAGE-BACKED SECURITIES 26.2% | NON-AGENCY MORTGAGE-BACKED SECURITIES 26.2% |
|  ACRA Trust | ACRA Trust | ACRA Trust |
|  5.608% due 10/25/2064 þ | 3238 | 3249 |
|  Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust | Adjustable Rate Mortgage Trust |
|  4.743% due 09/25/2035 •  | 1657 | 1584 |
|  4.943% due 02/25/2035 •  | 5928 | 5831 |
|  American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust |
|  3.219% due 01/25/2036 ~ | 836 | 523 |
|  4.253% due 06/25/2037 •  | 4177 | 4083 |
|  4.373% due 08/25/2037 •  | 4838 | 4433 |
|  4.829% due 10/25/2046 •  | 6357 | 5254 |
|  American Home Mortgage Investment Trust | American Home Mortgage Investment Trust | American Home Mortgage Investment Trust |
|  4.193% due 03/25/2046 •  | 3287 | 2989 |
|  4.643% due 06/25/2045 •  | 5278 | 5038 |
|  Angel Oak Mortgage Trust | Angel Oak Mortgage Trust | Angel Oak Mortgage Trust |
|  3.290% due 11/25/2066 ~ | 15681 | 11752 |
|  4.800% due 11/25/2067 þ | 6590 | 6557 |
|  5.338% due 05/27/2069 þ | 2536 | 2540 |
|  5.985% due 01/25/2069 þ | 671 | 675 |
|  6.197% due 01/25/2069 þ | 6103 | 6152 |
|  6.500% due 12/25/2067 þ | 2499 | 2509 |
|  Anthracite Investments Cayman Ltd. | Anthracite Investments Cayman Ltd. | Anthracite Investments Cayman Ltd. |
|  5.678% due 06/20/2041 | 5912 | 0 |
|  Ashford Hospitality Trust | Ashford Hospitality Trust | Ashford Hospitality Trust |
|  5.095% due 04/15/2035 •  | 8335 | 8310 |
|  5.245% due 04/15/2035 •  | 15035 | 14963 |
|  5.945% due 04/15/2035 •  | 13939 | 13787 |
|  ATLX Trust | ATLX Trust | ATLX Trust |
|  3.850% due 04/25/2063 þ | 3901 | 3791 |
|  3.850% due 04/25/2064 þ | 173 | 169 |
|  Atrium Hotel Portfolio Trust | Atrium Hotel Portfolio Trust | Atrium Hotel Portfolio Trust |
|  5.620% due 12/15/2036 •  | 8800 | 8565 |
|  Avon Finance | Avon Finance | Avon Finance |
|  4.645% due 12/28/2049 •  | 12499 | 16557 |
|  BAMLL Commercial Mortgage Pass-Through Certificates | BAMLL Commercial Mortgage Pass-Through Certificates | BAMLL Commercial Mortgage Pass-Through Certificates |
|  3.110% due 04/25/2050 « | 28245 | 27567 |
|  3.110% due 08/25/2052 « | 10000 | 8962 |
|  BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust |
|  5.787% due 09/15/2038 •  | 4000 | 3802 |
|  6.537% due 09/15/2038 •  | 5000 | 4692 |
|  Banc of America Alternative Loan Trust | Banc of America Alternative Loan Trust | Banc of America Alternative Loan Trust |
|  2.847% due 06/25/2037 •(a) | 241 | 28 |
|  4.153% due 06/25/2037 •  | 224 | 164 |
|  6.000% due 06/25/2046 | 1060 | 834 |
|  Banc of America Commercial Mortgage Trust | Banc of America Commercial Mortgage Trust | Banc of America Commercial Mortgage Trust |
|  5.754% due 07/10/2046 ~ | 209 | 207 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  2.424% due 01/27/2035 •  | 3179 | 641 |
|  4.005% due 05/26/2037 •  | 22258 | 19974 |
|  4.586% due 02/20/2036 ~ | 472 | 429 |
|  4.751% due 01/20/2047 ~ | 98 | 86 |
|  6.000% due 09/25/2036 | 11 | 11 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  4.944% due 11/20/2046 ~ | 41 | 37 |
|  5.788% due 04/25/2035 ~ | 849 | 843 |
|  6.023% due 06/25/2034 ~ | 18 | 18 |
|  6.429% due 05/25/2034 ~ | 11 | 11 |
|  Bayview MSR Opportunity Master Fund Trust | Bayview MSR Opportunity Master Fund Trust | Bayview MSR Opportunity Master Fund Trust |
|  3.000% due 12/25/2051 ~ | 3587 | 3122 |
|  Bayview Opportunity Master Fund VI Trust | Bayview Opportunity Master Fund VI Trust | Bayview Opportunity Master Fund VI Trust |
|  4.562% due 10/25/2051 •  | 1031 | 965 |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  5.161% due 07/15/2037 •  | 3300 | 3133 |
|  5.861% due 07/15/2037 •  | 7000 | 6558 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.361% due 07/15/2037 •  | $— | 9060 | $— | 8173 |
|  BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust |
|  3.032% due 01/26/2037 ~ |  | 1789 |  | 1641 |
|  4.586% due 02/26/2036 ~ |  | 2409 |  | 2242 |
|  5.500% due 04/25/2037 |  | 966 |  | 376 |
|  BCP Trust | BCP Trust | BCP Trust | BCP Trust | BCP Trust |
|  5.383% due 06/15/2038 •  |  | 5000 |  | 1684 |
|  6.279% due 06/15/2038 •  |  | 12750 |  | 1765 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.047% due 08/25/2036 ~ |  | 4599 |  | 3036 |
|  4.113% due 02/25/2034 •  |  | 12 |  | 11 |
|  4.113% due 08/25/2036 •  |  | 3742 |  | 3414 |
|  4.293% due 01/25/2036 •  |  | 440 |  | 431 |
|  4.567% due 11/25/2035 ~ |  | 453 |  | 342 |
|  4.718% due 09/25/2035 ~ |  | 990 |  | 518 |
|  5.140% due 04/25/2035 ~ |  | 9 |  | 9 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  4.064% due 10/25/2036 ~ |  | 112 |  | 95 |
|  4.503% due 03/25/2035 ~ |  | 104 |  | 96 |
|  4.819% due 07/25/2034 ~ |  | 24 |  | 23 |
|  5.456% due 05/25/2037 ~ |  | 1712 |  | 1519 |
|  6.273% due 12/25/2046 •  |  | 236 |  | 199 |
|  6.298% due 12/25/2046 •  |  | 1415 |  | 1271 |
|  Bear Stearns Commercial Mortgage Securities Trust | Bear Stearns Commercial Mortgage Securities Trust | Bear Stearns Commercial Mortgage Securities Trust | Bear Stearns Commercial Mortgage Securities Trust | Bear Stearns Commercial Mortgage Securities Trust |
|  5.657% due 10/12/2041 ~ |  | 41 |  | 41 |
|  Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust | Bear Stearns Mortgage Funding Trust |
|  4.253% due 09/25/2046 •  |  | 74 |  | 71 |
|  Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust |
|  4.788% due 01/26/2036 ~ |  | 1145 |  | 819 |
|  Beast Mortgage Trust | Beast Mortgage Trust | Beast Mortgage Trust | Beast Mortgage Trust | Beast Mortgage Trust |
|  5.237% due 03/15/2036 •  |  | 3000 |  | 1393 |
|  5.737% due 03/15/2036 •  |  | 5590 |  | 1785 |
|  6.287% due 03/15/2036 •  |  | 32020 |  | 6866 |
|  BINOM Securitization Trust | BINOM Securitization Trust | BINOM Securitization Trust | BINOM Securitization Trust | BINOM Securitization Trust |
|  4.441% due 08/25/2057 ~ |  | 19437 |  | 18942 |
|  BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust |
|  5.987% due 09/15/2036 •  |  | 6000 |  | 5651 |
|  6.637% due 09/15/2036 •  |  | 7000 |  | 6385 |
|  BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
|  4.708% due 12/15/2038 •  |  | 12465 |  | 12460 |
|  4.987% due 04/15/2034 •  |  | 2900 |  | 2872 |
|  5.437% due 04/15/2034 •  |  | 11733 |  | 11590 |
|  BX Trust | BX Trust | BX Trust | BX Trust | BX Trust |
|  4.293% due 10/15/2036 •  |  | 5000 |  | 4996 |
|  4.979% due 10/15/2026 •  |  | 1074 |  | 1073 |
|  5.618% due 10/15/2026 •  |  | 2865 |  | 2862 |
|  Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust |
|  3.000% due 03/25/2035 ~ |  | 7951 |  | 7828 |
|  4.000% due 10/25/2054 ~ |  | 12562 |  | 12278 |
|  Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
|  3.250% due 03/25/2064 ~ |  | 12066 |  | 10678 |
|  3.250% due 08/25/2064 ~ |  | 8791 |  | 7819 |
|  3.250% due 09/25/2064 ~ |  | 11250 |  | 10006 |
|  3.375% due 12/25/2064 ~ |  | 7338 |  | 6571 |
|  3.375% due 04/25/2065 ~ |  | 8269 |  | 7435 |
|  4.912% due 05/25/2055 •  |  | 4974 |  | 4987 |
|  4.912% due 09/25/2055 •  |  | 8008 |  | 8028 |
|  4.962% due 06/25/2055 •  |  | 15150 |  | 15248 |
|  5.162% due 04/25/2056 •  |  | 28222 |  | 28329 |
|  Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. |
|  4.862% due 01/25/2057 ~ |  | 58412 |  | 58447 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  6.870% due 02/25/2037 ~ |  | 3 |  | 3 |
|  ChaseFlex Trust | ChaseFlex Trust | ChaseFlex Trust | ChaseFlex Trust | ChaseFlex Trust |
|  4.143% due 02/25/2037 •  |  | 4653 |  | 1011 |
|  4.393% due 05/25/2037 •  |  | 8700 |  | 7878 |
|  4.473% due 05/25/2037 •  |  | 657 |  | 631 |
|  ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates | ChaseFlex Trust Multi-Class Mortgage Pass-Through Certificates |
|  4.093% due 08/25/2037 •  |  | 1798 |  | 1618 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  4.135% due 02/25/2047 ~ |  | 332 |  | 307 |
|  4.147% due 03/25/2037 ~ |  | 233 |  | 202 |
|  4.336% due 11/25/2037 ~ |  | 795 |  | 755 |
|  4.350% due 01/25/2036 ~ |  | 33 |  | 30 |
|  4.453% due 02/25/2035 •  |  | 243 |  | 232 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **171** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.500% due 05/01/2034 | $— | 143 | $— | 139 |
|  4.657% due 01/25/2036 ~ |  | 803 |  | 770 |
|  5.500% due 01/25/2035 |  | 134 |  | 136 |
|  5.750% due 05/25/2037 |  | 23 |  | 8 |
|  5.750% due 06/25/2037 |  | 4081 |  | 1802 |
|  5.750% due 07/25/2037 |  | 1235 |  | 545 |
|  6.000% due 02/25/2037 |  | 5413 |  | 2299 |
|  6.000% due 01/25/2038 |  | 256 |  | 104 |
|  6.250% due 09/25/2037 |  | 57 |  | 33 |
|  6.500% due 10/25/2037 |  | 9616 |  | 2725 |
|  6.500% due 11/25/2037 |  | 4063 |  | 1196 |
|  CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust | CHL Reperforming Loan REMICS Trust |
|  4.133% due 01/25/2036 •  |  | 66 |  | 62 |
|  4.723% due 01/25/2034 ~ |  | 2243 |  | 2036 |
|  7.500% due 06/25/2035 |  | 99 |  | 101 |
|  CIM Trust | CIM Trust | CIM Trust | CIM Trust | CIM Trust |
|  0.500% due 07/01/2051 ~(a) |  | 76870 |  | 2395 |
|  4.750% due 06/25/2064 ~ |  | 5739 |  | 5648 |
|  5.000% due 05/25/2062 ~ |  | 2047 |  | 2035 |
|  5.000% due 02/25/2099 þ |  | 2255 |  | 2233 |
|  6.639% due 12/25/2067 þ |  | 2588 |  | 2592 |
|  Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
|  4.242% due 11/10/2051 |  | 7765 |  | 7753 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  0.000% due 10/25/2054 ~ |  | 70169 |  | 73048 |
|  0.000% due 09/25/2064 ~ |  | 81866 |  | 69101 |
|  0.000% due 02/25/2065 ~ |  | 117980 |  | 102686 |
|  0.250% due 09/25/2051 ~(a) |  | 46163 |  | 679 |
|  4.170% due 06/27/2037 ~ |  | 5659 |  | 5034 |
|  4.651% due 02/20/2036 ~ |  | 2185 |  | 2028 |
|  4.692% due 08/25/2035 ~ |  | 242 |  | 226 |
|  5.012% due 07/25/2054 •  |  | 7064 |  | 7101 |
|  5.162% due 06/25/2055 •  |  | 15087 |  | 15176 |
|  6.000% due 08/25/2037 ~ |  | 1704 |  | 571 |
|  6.050% due 03/25/2036 •  |  | 9 |  | 9 |
|  6.490% due 05/25/2035 •  |  | 1 |  | 1 |
|  CLNY Trust | CLNY Trust | CLNY Trust | CLNY Trust | CLNY Trust |
|  5.512% due 11/15/2038 •  |  | 5000 |  | 4939 |
|  COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
|  6.393% due 06/25/2069 þ |  | 4915 |  | 4965 |
|  Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust | Countrywide Alternative Loan Trust |
|  1.807% due 06/25/2036 •(a) |  | 1330 |  | 143 |
|  3.157% due 10/25/2037 •(a) |  | 5773 |  | 802 |
|  4.033% due 06/25/2036 •  |  | 1354 |  | 1311 |
|  4.073% due 04/25/2047 •  |  | 214 |  | 197 |
|  4.153% due 11/25/2036 •  |  | 670 |  | 980 |
|  4.173% due 09/25/2046 •  |  | 1353 |  | 1340 |
|  4.193% due 06/25/2036 •  |  | 1344 |  | 527 |
|  4.329% due 03/25/2047 •  |  | 45 |  | 36 |
|  4.353% due 08/25/2047 •  |  | 2434 |  | 2074 |
|  4.430% due 11/20/2035 •  |  | 120 |  | 115 |
|  4.430% due 12/20/2035 •  |  | 1611 |  | 1542 |
|  4.493% due 05/25/2036 •  |  | 164 |  | 64 |
|  5.199% due 05/25/2036 ~ |  | 857 |  | 829 |
|  5.259% due 08/25/2035 •  |  | 2049 |  | 1991 |
|  5.359% due 09/25/2035 •  |  | 400 |  | 377 |
|  5.500% due 07/25/2035 |  | 3833 |  | 2703 |
|  5.750% due 03/25/2034 |  | 2319 |  | 2361 |
|  5.909% due 10/20/2035 •  |  | 885 |  | 636 |
|  6.000% due 10/25/2034 |  | 6566 |  | 6655 |
|  6.000% due 12/25/2034 |  | 2416 |  | 2088 |
|  6.000% due 07/25/2036 |  | 15707 |  | 5933 |
|  6.000% due 08/25/2036 |  | 976 |  | 930 |
|  6.000% due 08/25/2036 •  |  | 787 |  | 751 |
|  6.000% due 02/25/2037 |  | 3868 |  | 1432 |
|  6.000% due 04/25/2037 |  | 12184 |  | 5301 |
|  6.000% due 07/25/2037 |  | 12179 |  | 6108 |
|  6.500% due 12/25/2036 |  | 8003 |  | 3300 |
|  Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization | Countrywide Alternative Loan Trust Resecuritization |
|  6.000% due 05/25/2036 |  | 35 |  | 18 |
|  Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
|  5.129% due 09/25/2069 ~ |  | 2973 |  | 2975 |
|  5.549% due 12/25/2069 ~ |  | 4161 |  | 4177 |
|  6.093% due 04/25/2069 þ |  | 4390 |  | 4418 |
|  6.147% due 07/25/2069 þ |  | 4165 |  | 4199 |
|  6.272% due 06/25/2069 þ |  | 6094 |  | 6144 |
|  6.615% due 03/25/2068 þ |  | 3283 |  | 3289 |
|  CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust | CSAB Mortgage-Backed Trust |
|  6.500% due 11/25/2036 þ |  | 57 |  | 7 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust |
|  5.180% due 01/15/2049 ~ | 2500 | 131 |
|  CSMC Trust | CSMC Trust | CSMC Trust |
|  0.938% due 05/25/2066 ~ | 904 | 748 |
|  2.000% due 01/25/2060 | 14315 | 12571 |
|  2.000% due 01/25/2060 ~ | 1131 | 1004 |
|  2.000% due 10/25/2060 ~ | 460 | 416 |
|  2.500% due 07/25/2056 ~ | 1712 | 1427 |
|  2.983% due 07/25/2057 ~ | 6580 | 6179 |
|  3.000% due 11/25/2056 ~ | 5412 | 4707 |
|  3.375% due 01/25/2060 | 1000 | 814 |
|  3.904% due 04/25/2062 ~ | 2617 | 2506 |
|  4.151% due 12/27/2060 ~ | 18018 | 17968 |
|  4.591% due 01/26/2047 ~ | 2505 | 1245 |
|  4.699% due 05/27/2053 ~ | 1950 | 1764 |
|  4.945% due 10/26/2036 ~ | 400 | 361 |
|  5.587% due 07/15/2038 •  | 4000 | 2829 |
|  6.087% due 07/15/2038 •  | 5000 | 1585 |
|  6.250% due 05/26/2048 | 5721 | 4835 |
|  6.611% due 06/01/2050 ~ | 1770 | 1765 |
|  6.687% due 07/15/2038 •  | 10000 | 1596 |
|  DC Commercial Mortgage Trust | DC Commercial Mortgage Trust | DC Commercial Mortgage Trust |
|  6.314% due 09/12/2040 | 4300 | 4387 |
|  Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust |
|  4.093% due 03/25/2037 •  | 762 | 733 |
|  4.093% due 09/25/2047 •  | 12622 | 11117 |
|  4.273% due 01/25/2047 •  | 5340 | 4831 |
|  DOLP Trust | DOLP Trust | DOLP Trust |
|  3.704% due 05/10/2041 ~ | 46540 | 38756 |
|  DROP Mortgage Trust | DROP Mortgage Trust | DROP Mortgage Trust |
|  5.487% due 10/15/2043 •  | 5500 | 5474 |
|  6.037% due 10/15/2043 •  | 7200 | 7141 |
|  Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
|  2.296% due 06/25/2066 ~ | 2200 | 1558 |
|  4.812% due 11/25/2060 •  | 34417 | 34395 |
|  5.522% due 01/26/2060 þ | 1243 | 1247 |
|  5.655% due 02/25/2060 þ | 4299 | 4323 |
|  Eurosail-U.K. PLC | Eurosail-U.K. PLC | Eurosail-U.K. PLC |
|  4.635% due 09/13/2045 •  | 575 | 745 |
|  Finance of America HECM Buyout | Finance of America HECM Buyout | Finance of America HECM Buyout |
|  4.500% due 11/25/2035 ~ | 4598 | 4555 |
|  First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust | First Horizon Alternative Mortgage Securities Trust |
|  3.987% due 07/25/2036 ~ | 72 | 64 |
|  First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust | First Horizon Mortgage Pass-Through Trust |
|  5.495% due 11/25/2035 ~ | 7 | 5 |
|  5.994% due 08/25/2035 ~ | 59 | 39 |
|  GCAT Trust | GCAT Trust | GCAT Trust |
|  2.565% due 05/25/2066 | 9952 | 7461 |
|  4.250% due 05/25/2067 ~ | 3456 | 3265 |
|  5.500% due 08/25/2055 ~ | 40870 | 40926 |
|  6.007% due 01/25/2059 þ | 2300 | 2311 |
|  6.085% due 06/25/2059 þ | 3150 | 3173 |
|  6.500% due 01/25/2054 ~ | 4888 | 5010 |
|  Global Mortgage Securitization Ltd. | Global Mortgage Securitization Ltd. | Global Mortgage Securitization Ltd. |
|  4.063% due 04/25/2032 •  | 301 | 293 |
|  GMACM Mortgage Loan Trust | GMACM Mortgage Loan Trust | GMACM Mortgage Loan Trust |
|  7.500% due 05/25/2035 ~ | 7 | 7 |
|  GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust |
|  4.253% due 02/25/2037 •  | 6618 | 6544 |
|  Grifonas Finance No. 1 PLC | Grifonas Finance No. 1 PLC | Grifonas Finance No. 1 PLC |
|  2.419% due 08/28/2039 •  | 3736 | 4245 |
|  GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust |
|  5.170% due 07/15/2031 •  | 11605 | 3595 |
|  5.420% due 07/15/2031 •  | 3293 | 640 |
|  5.590% due 12/15/2036 •  | 3356 | 3314 |
|  GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust |
|  0.250% due 05/25/2051 ~(a) | 14896 | 197 |
|  2.000% due 12/25/2060 ~ | 2770 | 2388 |
|  2.300% due 07/25/2061 ~ | 17128 | 14518 |
|  3.207% due 07/25/2061 ~ | 5664 | 4676 |
|  4.211% due 07/25/2061 ~ | 2039 | 1710 |
|  GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
|  0.000% due 01/25/2064 (b)(f) | 42 | 41 |
|  0.000% due 07/25/2064 (b)(f) | 150 | 148 |
|  0.000% due 08/25/2065 (b)(f) | 457 | 444 |
|  0.000% due 08/25/2071 ~ | 726 | 612 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  0.500% due 01/25/2053 ~(a) | $— | 32319 | $— | 1051 |
|  3.203% due 01/25/2064 ~ |  | 96126 |  | 81476 |
|  3.625% due 01/25/2059 ~ |  | 18306 |  | 17957 |
|  3.640% due 07/25/2064 ~ |  | 100725 |  | 85243 |
|  3.750% due 10/25/2057 |  | 895 |  | 879 |
|  3.900% due 09/25/2061 þ |  | 6437 |  | 6291 |
|  3.999% due 08/25/2065 ~ |  | 125279 |  | 112213 |
|  4.029% due 07/25/2064 ~ |  | 99463 |  | 88065 |
|  4.100% due 07/25/2065 þ |  | 10237 |  | 9951 |
|  4.638% due 08/25/2071 ~ |  | 84437 |  | 78408 |
|  5.011% due 11/25/2054 •  |  | 3435 |  | 3444 |
|  6.320% due 04/25/2065 ~ |  | 76849 |  | 78156 |
|  GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust |
|  4.143% due 01/25/2036 •  |  | 399 |  | 321 |
|  4.191% due 03/25/2035 ~ |  | 2077 |  | 2033 |
|  4.193% due 04/25/2036 •  |  | 3798 |  | 3277 |
|  4.255% due 01/25/2036 ~ |  | 1734 |  | 1563 |
|  GSMSC Resecuritization Trust | GSMSC Resecuritization Trust | GSMSC Resecuritization Trust | GSMSC Resecuritization Trust | GSMSC Resecuritization Trust |
|  3.866% due 06/26/2037 ~ |  | 2966 |  | 2692 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  6.250% due 08/25/2036 |  | 659 |  | 170 |
|  HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust | HarborView Mortgage Loan Trust |
|  4.171% due 01/19/2038 •  |  | 10127 |  | 9085 |
|  4.201% due 12/19/2036 •  |  | 3670 |  | 3089 |
|  4.211% due 11/19/2036 •  |  | 1519 |  | 1448 |
|  4.411% due 08/19/2045 •  |  | 17 |  | 16 |
|  5.460% due 04/19/2034 ~ |  | 45 |  | 45 |
|  5.759% due 09/19/2035 •  |  | 1940 |  | 1443 |
|  5.859% due 10/19/2035 •  |  | 16710 |  | 7700 |
|  Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
|  2.828% due 11/05/2035 |  | 1000 |  | 857 |
|  Homestar Mortgage Acceptance Corp. | Homestar Mortgage Acceptance Corp. | Homestar Mortgage Acceptance Corp. | Homestar Mortgage Acceptance Corp. | Homestar Mortgage Acceptance Corp. |
|  4.588% due 03/25/2034 •  |  | 773 |  | 793 |
|  HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust |
|  2.837% due 12/25/2036 •(a) |  | 726 |  | 65 |
|  4.163% due 12/25/2036 •  |  | 742 |  | 136 |
|  Hundred Acre Wood Trust | Hundred Acre Wood Trust | Hundred Acre Wood Trust | Hundred Acre Wood Trust | Hundred Acre Wood Trust |
|  4.567% due 12/25/2051 •  |  | 6274 |  | 5891 |
|  Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust | Impac Secured Assets Trust |
|  4.353% due 08/25/2036 •  |  | 1080 |  | 978 |
|  4.493% due 05/25/2036 •  |  | 7 |  | 7 |
|  IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust | IMS Ecuadorian Mortgage Trust |
|  3.400% due 08/18/2043 |  | 930 |  | 909 |
|  IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust | IndyMac IMSC Mortgage Loan Trust |
|  3.715% due 06/25/2037 ~ |  | 9773 |  | 5776 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  3.619% due 09/25/2036 ~ |  | 109 |  | 86 |
|  3.779% due 09/25/2036 ~ |  | 1538 |  | 1358 |
|  4.153% due 02/25/2037 •  |  | 1673 |  | 1533 |
|  4.193% due 10/25/2036 •  |  | 5 |  | 4 |
|  4.271% due 08/25/2035 ~ |  | 22 |  | 20 |
|  4.573% due 12/25/2034 •  |  | 180 |  | 139 |
|  Jefferies Resecuritization Trust | Jefferies Resecuritization Trust | Jefferies Resecuritization Trust | Jefferies Resecuritization Trust | Jefferies Resecuritization Trust |
|  9.298% due 06/25/2047 ~ |  | 415 |  | 349 |
|  JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust | JP Morgan Alternative Loan Trust |
|  4.113% due 11/25/2036 •  |  | 2193 |  | 1925 |
|  4.353% due 04/25/2047 •  |  | 633 |  | 610 |
|  6.000% due 12/27/2036 |  | 2464 |  | 1141 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  2.854% due 09/06/2038 ~ |  | 10000 |  | 9932 |
|  4.797% due 06/15/2038 •  |  | 1520 |  | 1471 |
|  5.270% due 02/15/2035 •  |  | 1021 |  | 986 |
|  5.537% due 03/15/2036 •  |  | 1900 |  | 1590 |
|  6.087% due 03/15/2036 •  |  | 29900 |  | 21946 |
|  6.887% due 03/15/2036 •  |  | 4000 |  | 2180 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  0.000% due 02/25/2055 ~ |  | 78534 |  | 84861 |
|  0.000% due 10/25/2055 ~ |  | 106423 |  | 113613 |
|  0.150% due 03/25/2052 ~(a) |  | 26915 |  | 239 |
|  0.188% due 11/25/2051 ~(a) |  | 39896 |  | 432 |
|  0.450% due 07/25/2052 ~(a) |  | 59568 |  | 1477 |
|  0.484% due 02/25/2052 ~(a) |  | 43004 |  | 1217 |
|  0.500% due 12/25/2051 ~(a) |  | 60100 |  | 1769 |
|  0.500% due 04/25/2052 ~(a) |  | 8372 |  | 151 |
|  0.500% due 05/25/2052 ~(a) |  | 69677 |  | 2077 |
|  0.500% due 06/25/2052 ~(a) |  | 35404 |  | 1056 |

---

---

| | | |
|:---|:---|:---|
| **172** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.500% due 12/25/2051 ~(a) | $— | 9045 | $— | 1223 |
|  2.500% due 04/25/2052 ~(a) |  | 6967 |  | 950 |
|  3.500% due 09/25/2052 ~ |  | 9780 |  | 8857 |
|  4.273% due 06/25/2036 ~ |  | 2538 |  | 1705 |
|  4.391% due 01/25/2037 ~ |  | 1432 |  | 1192 |
|  4.617% due 05/25/2052 •  |  | 19263 |  | 18076 |
|  4.625% due 07/25/2063 ~ |  | 3585 |  | 3491 |
|  4.912% due 11/25/2054 •  |  | 31336 |  | 31415 |
|  4.912% due 12/25/2054 •  |  | 37956 |  | 38052 |
|  4.912% due 03/25/2055 •  |  | 9971 |  | 9997 |
|  4.962% due 03/25/2056 •  |  | 34002 |  | 34092 |
|  5.000% due 12/25/2051 ~ |  | 2425 |  | 2375 |
|  5.012% due 02/25/2055 •  |  | 6255 |  | 6271 |
|  5.198% due 11/25/2035 ~ |  | 1927 |  | 1561 |
|  5.250% due 11/25/2063 ~ |  | 1081 |  | 1073 |
|  5.337% due 04/25/2035 ~ |  | 7 |  | 7 |
|  5.561% due 09/25/2055 þ |  | 7760 |  | 7756 |
|  6.178% due 07/25/2035 ~ |  | 1 |  | 1 |
|  6.222% due 07/25/2035 ~ |  | 2 |  | 2 |
|  7.000% due 08/25/2037 |  | 954 |  | 443 |
|  7.317% due 12/25/2055 ~ |  | 85420 |  | 86194 |
|  JP Morgan Resecuritization Trust | JP Morgan Resecuritization Trust | JP Morgan Resecuritization Trust | JP Morgan Resecuritization Trust | JP Morgan Resecuritization Trust |
|  6.000% due 08/26/2036 ~ |  | 1664 |  | 1574 |
|  6.000% due 09/26/2036 ~ |  | 2843 |  | 2226 |
|  JP Morgan Seasoned Mortgage Trust | JP Morgan Seasoned Mortgage Trust | JP Morgan Seasoned Mortgage Trust | JP Morgan Seasoned Mortgage Trust | JP Morgan Seasoned Mortgage Trust |
|  3.684% due 01/25/2063 ~ |  | 11055 |  | 10334 |
|  4.337% due 01/25/2063 ~ |  | 2619 |  | 2517 |
|  KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust |
|  2.927% due 11/05/2044 ~ |  | 17515 |  | 11788 |
|  La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust | La Hipotecaria El Salvadorian Mortgage Trust |
|  3.358% due 01/15/2046 « |  | 3722 |  | 3450 |
|  4.250% due 09/29/2046 « |  | 20662 |  | 18929 |
|  La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust | La Hipotecaria Panamanian Mortgage Trust |
|  3.508% due 11/24/2042 «•  |  | 6715 |  | 6497 |
|  Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust | Legacy Mortgage Asset Trust |
|  5.650% due 11/25/2060 þ |  | 4414 |  | 4420 |
|  5.750% due 07/25/2061 þ |  | 6102 |  | 6108 |
|  5.892% due 10/25/2066 þ |  | 4247 |  | 4252 |
|  6.250% due 07/25/2067 þ |  | 8838 |  | 8851 |
|  Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust |
|  2.757% due 11/25/2036 •(a) |  | 16527 |  | 1874 |
|  4.113% due 08/25/2036 •  |  | 67 |  | 41 |
|  4.243% due 11/25/2036 •  |  | 25605 |  | 5491 |
|  5.750% due 02/25/2037 |  | 3605 |  | 2322 |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.033% due 08/25/2036 •  |  | 53 |  | 64 |
|  4.153% due 12/25/2036 •  |  | 4610 |  | 4677 |
|  4.293% due 08/25/2037 •  |  | 1146 |  | 1134 |
|  4.693% due 08/25/2047 •  |  | 1546 |  | 1448 |
|  Luminent Mortgage Trust | Luminent Mortgage Trust | Luminent Mortgage Trust | Luminent Mortgage Trust | Luminent Mortgage Trust |
|  4.253% due 05/25/2037 •  |  | 19 |  | 18 |
|  LUX | LUX | LUX | LUX | LUX |
|  6.363% due 08/15/2040 •  |  | 8300 |  | 8351 |
|  MASTR Asset Securitization Trust | MASTR Asset Securitization Trust | MASTR Asset Securitization Trust | MASTR Asset Securitization Trust | MASTR Asset Securitization Trust |
|  6.250% due 01/25/2038 |  | 417 |  | 207 |
|  MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust | MASTR Reperforming Loan Trust |
|  6.000% due 08/25/2034 |  | 718 |  | 426 |
|  7.000% due 07/25/2035 |  | 1895 |  | 1172 |
|  Merrill Lynch Alternative Note Asset Trust | Merrill Lynch Alternative Note Asset Trust | Merrill Lynch Alternative Note Asset Trust | Merrill Lynch Alternative Note Asset Trust | Merrill Lynch Alternative Note Asset Trust |
|  3.298% due 10/25/2047 ~ |  | 4431 |  | 1078 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  5.600% due 02/25/2036 ~ |  | 260 |  | 166 |
|  MF1 Trust | MF1 Trust | MF1 Trust | MF1 Trust | MF1 Trust |
|  4.743% due 12/15/2034 •  |  | 5270 |  | 5251 |
|  MFA Trust | MFA Trust | MFA Trust | MFA Trust | MFA Trust |
|  2.306% due 04/25/2065 ~ |  | 8966 |  | 7961 |
|  2.500% due 10/25/2051 ~(a) |  | 26804 |  | 4182 |
|  2.855% due 07/25/2060 ~ |  | 1372 |  | 1138 |
|  4.250% due 02/25/2066 ~ |  | 826 |  | 789 |
|  6.105% due 12/25/2068 þ |  | 2946 |  | 2962 |
|  6.775% due 10/25/2058 þ |  | 3824 |  | 3849 |
|  Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust |
|  2.750% due 07/25/2059 ~ |  | 886 |  | 873 |
|  2.750% due 08/25/2059 ~ |  | 2635 |  | 2571 |
|  3.000% due 08/25/2059 ~ |  | 5000 |  | 4658 |
|  3.500% due 04/25/2066 ~ |  | 5995 |  | 5896 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
|  2.428% due 04/05/2042 ~ | 10000 | 8864 |
|  4.787% due 05/15/2036 •  | 2671 | 381 |
|  5.370% due 11/15/2034 •  | 1318 | 1303 |
|  5.585% due 12/15/2038 •  | 8896 | 8145 |
|  6.165% due 12/15/2038 •  | 24544 | 22240 |
|  6.864% due 12/15/2038 •  | 8200 | 7233 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  4.212% due 09/25/2035 ~ | 38 | 24 |
|  4.693% due 02/25/2036 •  | 94 | 89 |
|  4.871% due 12/25/2035 ~ | 1469 | 1375 |
|  5.500% due 10/25/2037 | 264 | 258 |
|  6.201% due 02/25/2047 þ | 1904 | 611 |
|  Morgan Stanley Re-REMICS Trust | Morgan Stanley Re-REMICS Trust | Morgan Stanley Re-REMICS Trust |
|  3.629% due 02/26/2037 •  | 8052 | 7714 |
|  Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |
|  4.000% due 06/25/2064 þ | 3434 | 3343 |
|  5.044% due 07/25/2069 ~ | 8734 | 8714 |
|  Mortgage Equity Conversion Asset Trust | Mortgage Equity Conversion Asset Trust | Mortgage Equity Conversion Asset Trust |
|  4.260% due 05/25/2042 •  | 2327 | 2137 |
|  MortgageIT Securities Corp. Mortgage Loan Trust | MortgageIT Securities Corp. Mortgage Loan Trust | MortgageIT Securities Corp. Mortgage Loan Trust |
|  4.253% due 06/25/2047 •  | 1698 | 1484 |
|  MortgageIT Trust | MortgageIT Trust | MortgageIT Trust |
|  4.573% due 11/25/2034 •  | 73 | 71 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  2.000% due 09/25/2051 ~(a) | 9546 | 1025 |
|  2.201% due 10/25/2058 ~ | 10000 | 9242 |
|  2.750% due 07/25/2059 ~ | 16379 | 15891 |
|  2.750% due 11/25/2059 ~ | 111 | 106 |
|  3.000% due 07/25/2059 ~ | 1837 | 1713 |
|  3.008% due 10/25/2058 ~ | 5500 | 5009 |
|  3.500% due 12/25/2058 ~ | 511 | 479 |
|  3.500% due 10/25/2059 ~ | 1540 | 1445 |
|  3.963% due 10/25/2058 ~ | 2500 | 2296 |
|  4.617% due 09/25/2051 •  | 12538 | 11794 |
|  New York Mortgage Trust | New York Mortgage Trust | New York Mortgage Trust |
|  4.453% due 08/25/2035 •  | 1017 | 931 |
|  NLT Trust | NLT Trust | NLT Trust |
|  3.200% due 10/25/2062 ~ | 2816 | 2601 |
|  NYMT Loan Trust | NYMT Loan Trust | NYMT Loan Trust |
|  3.215% due 07/25/2061 | 800 | 696 |
|  3.750% due 02/25/2068 ~ | 1597 | 1480 |
|  3.750% due 11/25/2069 ~ | 7611 | 7335 |
|  5.379% due 06/25/2069 ~ | 4032 | 4044 |
|  OBX Trust | OBX Trust | OBX Trust |
|  3.000% due 01/25/2052 ~ | 4326 | 3751 |
|  3.620% due 03/25/2053 ~ | 8676 | 8690 |
|  3.703% due 04/25/2053 ~ | 13019 | 12968 |
|  4.940% due 09/25/2062 þ | 15260 | 15170 |
|  5.110% due 08/25/2062 þ | 4868 | 4855 |
|  5.610% due 11/25/2064 ~ | 3737 | 3757 |
|  6.030% due 01/25/2064 þ | 5594 | 5639 |
|  6.233% due 05/25/2064 þ | 3985 | 4021 |
|  6.465% due 10/25/2063 þ | 5537 | 5576 |
|  6.520% due 07/25/2063 þ | 8096 | 8110 |
|  6.567% due 06/25/2063 þ | 4259 | 4263 |
|  6.844% due 04/25/2063 þ | 2511 | 2525 |
|  7.045% due 09/25/2063 þ | 4741 | 4771 |
|  7.159% due 10/25/2063 þ | 7272 | 7331 |
|  Oceanview Mortgage Trust | Oceanview Mortgage Trust | Oceanview Mortgage Trust |
|  4.611% due 05/25/2055 •  | 11661 | 11692 |
|  One Bryant Park Trust | One Bryant Park Trust | One Bryant Park Trust |
|  2.516% due 09/15/2054 | 40000 | 36990 |
|  PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
|  5.021% due 02/25/2057 •  | 29700 | 29773 |
|  Preferred Residential Securities PLC | Preferred Residential Securities PLC | Preferred Residential Securities PLC |
|  4.865% due 12/15/2043 •  | 4656 | 6057 |
|  Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC |
|  3.900% due 10/25/2063 ~ | 3402 | 3252 |
|  4.000% due 08/25/2064 þ | 4082 | 3964 |
|  4.000% due 03/25/2065 þ | 26341 | 25526 |
|  4.000% due 07/25/2069 þ | 1792 | 1744 |
|  4.075% due 06/25/2064 ~ | 3308 | 3127 |
|  4.150% due 04/25/2065 þ | 5444 | 5303 |
|  5.249% due 10/25/2055 | 3698 | 3685 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  PRKCM Trust | PRKCM Trust | PRKCM Trust |
|  6.333% due 03/25/2059 þ | 2961 | 2984 |
|  6.431% due 05/25/2059 þ | 593 | 599 |
|  6.584% due 09/25/2058 þ | 4701 | 4714 |
|  7.225% due 11/25/2058 þ | 2875 | 2901 |
|  PRPM LLC | PRPM LLC | PRPM LLC |
|  3.750% due 03/25/2054 þ | 1500 | 1471 |
|  3.750% due 04/25/2055 þ | 1821 | 1774 |
|  4.000% due 11/25/2053 þ | 744 | 734 |
|  4.000% due 01/25/2054 þ | 687 | 679 |
|  4.000% due 05/25/2054 þ | 615 | 606 |
|  4.000% due 07/25/2054 þ | 622 | 613 |
|  4.000% due 08/25/2054 þ | 594 | 584 |
|  4.000% due 11/25/2054 þ | 4873 | 4763 |
|  4.000% due 10/25/2064 þ | 1876 | 1838 |
|  4.200% due 12/25/2064 þ | 1947 | 1920 |
|  4.500% due 02/25/2055 þ | 1520 | 1501 |
|  4.500% due 08/25/2055 þ | 3482 | 3427 |
|  4.500% due 06/25/2065 þ | 23765 | 23273 |
|  4.942% due 12/25/2055 þ | 7783 | 7719 |
|  5.185% due 02/25/2031 þ | 4510 | 4466 |
|  5.250% due 07/25/2055 þ | 2517 | 2514 |
|  5.385% due 10/25/2030 þ | 1465 | 1459 |
|  5.774% due 08/25/2028 þ | 7721 | 7710 |
|  5.870% due 11/25/2029 þ | 3428 | 3432 |
|  5.897% due 12/25/2029 þ | 5129 | 5128 |
|  6.179% due 06/25/2030 þ | 4776 | 4771 |
|  6.469% due 05/25/2030 þ | 2751 | 2747 |
|  PRPM Trust | PRPM Trust | PRPM Trust |
|  4.845% due 01/25/2056 þ | 951 | 947 |
|  5.228% due 08/25/2069 þ | 3234 | 3230 |
|  5.674% due 12/26/2069 þ | 4334 | 4352 |
|  5.802% due 11/25/2069 þ | 8916 | 8970 |
|  6.221% due 11/25/2068 þ | 6404 | 6450 |
|  6.250% due 08/25/2068 þ | 4938 | 4949 |
|  6.255% due 05/25/2030 þ | 1676 | 1673 |
|  6.265% due 12/25/2068 þ | 1482 | 1491 |
|  6.327% due 06/25/2069 þ | 3583 | 3617 |
|  RALI Trust | RALI Trust | RALI Trust |
|  2.807% due 06/25/2037 •(a) | 2040 | 224 |
|  4.093% due 08/25/2035 •  | 98 | 67 |
|  4.143% due 08/25/2035 •  | 435 | 350 |
|  4.173% due 05/25/2037 •  | 2574 | 2428 |
|  4.193% due 06/25/2037 •  | 2040 | 1492 |
|  4.193% due 10/25/2046 •  | 469 | 458 |
|  4.343% due 01/25/2037 •  | 2781 | 2063 |
|  4.593% due 10/25/2045 •  | 82 | 57 |
|  4.788% due 10/25/2037 ~ | 4520 | 3607 |
|  5.219% due 09/25/2045 •  | 1223 | 1061 |
|  5.678% due 12/25/2035 ~ | 3713 | 1368 |
|  6.500% due 02/25/2037 | 2406 | 2028 |
|  6.798% due 05/25/2035 ~ | 51 | 26 |
|  8.000% due 04/25/2036 •  | 105 | 88 |
|  RBSGC Mortgage Loan Trust | RBSGC Mortgage Loan Trust | RBSGC Mortgage Loan Trust |
|  4.093% due 01/25/2037 •  | 20237 | 2990 |
|  RBSSP Resecuritization Trust | RBSSP Resecuritization Trust | RBSSP Resecuritization Trust |
|  4.605% due 12/25/2035 ~ | 1746 | 1669 |
|  6.000% due 06/26/2037 ~ | 75 | 70 |
|  Real Estate Asset Liquidity Trust | Real Estate Asset Liquidity Trust | Real Estate Asset Liquidity Trust |
|  3.650% due 08/12/2053 | 3376 | 2420 |
|  Residential Asset Securitization Trust | Residential Asset Securitization Trust | Residential Asset Securitization Trust |
|  6.250% due 08/25/2036 | 451 | 314 |
|  RFMSI Trust | RFMSI Trust | RFMSI Trust |
|  5.843% due 04/25/2037 ~ | 75 | 65 |
|  RiverView HECM Pass-Through Certificates Trust | RiverView HECM Pass-Through Certificates Trust | RiverView HECM Pass-Through Certificates Trust |
|  4.063% due 05/25/2047 •  | 701 | 627 |
|  Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
|  5.582% due 08/25/2059 þ | 7529 | 7565 |
|  Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust |
|  5.545% due 01/25/2065 þ | 2404 | 2413 |
|  Seasoned Credit Risk Transfer Trust | Seasoned Credit Risk Transfer Trust | Seasoned Credit Risk Transfer Trust |
|  5.000% due 11/25/2064 ~ | 385 | 331 |
|  Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
|  4.170% due 06/20/2036 •  | 31 | 30 |
|  4.217% due 07/20/2037 ~ | 44 | 35 |
|  4.435% due 11/25/2063 ~ | 6324 | 6319 |
|  4.674% due 04/25/2056 ~ | 6900 | 6744 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **173** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.046% due 10/25/2055 ~ | $— | 4247 | $— | 4248 |
|  5.172% due 04/25/2056 •  |  | 73800 |  | 73982 |
|  SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
|  5.287% due 05/15/2038 •  |  | 8750 |  | 8737 |
|  5.587% due 05/15/2038 •  |  | 15140 |  | 15064 |
|  6.187% due 05/15/2038 •  |  | 5500 |  | 5460 |
|  SMRT Commercial Mortgage Trust | SMRT Commercial Mortgage Trust | SMRT Commercial Mortgage Trust | SMRT Commercial Mortgage Trust | SMRT Commercial Mortgage Trust |
|  4.673% due 01/15/2039 •  |  | 30128 |  | 30115 |
|  Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
|  2.175% due 05/25/2065 ~ |  | 6564 |  | 6079 |
|  3.386% due 11/25/2066 ~ |  | 9324 |  | 6901 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.093% due 02/25/2037 •  |  | 1772 |  | 1805 |
|  4.153% due 10/25/2035 •  |  | 2930 |  | 2810 |
|  4.443% due 08/25/2035 ~ |  | 172 |  | 150 |
|  4.672% due 05/25/2035 ~ |  | 709 |  | 590 |
|  4.768% due 08/25/2035 •  |  | 4434 |  | 4021 |
|  6.093% due 12/25/2037 •  |  | 1823 |  | 1589 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.153% due 07/25/2046 •  |  | 31 |  | 29 |
|  4.173% due 07/25/2046 •  |  | 2140 |  | 1772 |
|  4.233% due 05/25/2036 •  |  | 274 |  | 230 |
|  Structured Asset Securities Corp. | Structured Asset Securities Corp. | Structured Asset Securities Corp. | Structured Asset Securities Corp. | Structured Asset Securities Corp. |
|  0.481% due 11/25/2035 ~(a) |  | 4175 |  | 68 |
|  4.043% due 07/25/2035 •  |  | 447 |  | 398 |
|  4.053% due 11/25/2035 •  |  | 4175 |  | 3733 |
|  4.848% due 01/25/2036 ~ |  | 1122 |  | 1015 |
|  Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust |
|  4.083% due 10/25/2036 •  |  | 729 |  | 614 |
|  Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates |
|  5.092% due 09/25/2033 ~ |  | 21 |  | 20 |
|  Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust |
|  5.836% due 03/25/2037 •  |  | 2697 |  | 1916 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  3.000% due 06/25/2058 ~ |  | 1871 |  | 1773 |
|  3.250% due 07/25/2056 ~ |  | 221 |  | 220 |
|  3.750% due 10/25/2056 ~ |  | 6020 |  | 5823 |
|  3.750% due 05/25/2058 ~ |  | 10283 |  | 10105 |
|  4.103% due 01/25/2066 ~ |  | 16047 |  | 15842 |
|  4.546% due 10/27/2064 ~ |  | 18938 |  | 18968 |
|  4.612% due 10/25/2064 ~ |  | 38556 |  | 38250 |
|  4.793% due 05/25/2058 •  |  | 1452 |  | 1479 |
|  4.793% due 10/25/2059 •  |  | 1955 |  | 1956 |
|  5.012% due 07/25/2065 ~ |  | 12523 |  | 12473 |
|  UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust |
|  0.500% due 12/25/2051 ~(a) |  | 19677 |  | 601 |
|  2.500% due 11/25/2051 ~(a) |  | 5806 |  | 790 |
|  4.612% due 12/25/2051 •  |  | 12891 |  | 12034 |
|  4.667% due 09/25/2051 •  |  | 6958 |  | 6538 |
|  Valley Funding PLC | Valley Funding PLC | Valley Funding PLC | Valley Funding PLC | Valley Funding PLC |
|  0.000% due 05/16/2066 (f) |  | 8096 |  | 9838 |
|  4.745% due 05/16/2066 •  |  | 39166 |  | 51752 |
|  5.245% due 05/16/2066 •  |  | 4995 |  | 6604 |
|  5.745% due 05/16/2066 •  |  | 5212 |  | 6882 |
|  6.745% due 05/16/2066 •  |  | 2693 |  | 3557 |
|  7.745% due 05/16/2066 •  |  | 1737 |  | 2296 |
|  9.245% due 05/16/2066 •  |  | 956 |  | 1270 |
|  VASA Trust | VASA Trust | VASA Trust | VASA Trust | VASA Trust |
|  5.037% due 07/15/2039 •  | $— | 14850 |  | 14370 |
|  5.537% due 07/15/2039 •  |  | 16314 |  | 15389 |
|  5.887% due 07/15/2039 •  |  | 11635 |  | 10805 |
|  Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
|  4.260% due 02/25/2067 þ |  | 4315 |  | 4153 |
|  5.218% due 09/25/2069 ~ |  | 7181 |  | 7204 |
|  5.402% due 05/25/2065 þ |  | 7232 |  | 7255 |
|  5.799% due 07/25/2069 þ |  | 7083 |  | 7127 |
|  6.192% due 06/25/2069 þ |  | 5788 |  | 5842 |
|  6.218% due 06/25/2069 þ |  | 5007 |  | 5051 |
|  6.259% due 12/25/2068 þ |  | 2493 |  | 2507 |
|  6.338% due 04/25/2069 þ |  | 4130 |  | 4167 |
|  6.443% due 08/25/2068 þ |  | 3152 |  | 3157 |
|  6.665% due 09/25/2068 þ |  | 8788 |  | 8829 |
|  6.876% due 11/25/2068 ~ |  | 2388 |  | 2408 |
|  7.070% due 10/25/2068 þ |  | 7370 |  | 7426 |
|  Visio Trust | Visio Trust | Visio Trust | Visio Trust | Visio Trust |
|  6.598% due 10/25/2058 þ |  | 3075 |  | 3082 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  WaMu Commercial Mortgage Securities Trust | WaMu Commercial Mortgage Securities Trust | WaMu Commercial Mortgage Securities Trust | WaMu Commercial Mortgage Securities Trust |
|  6.243% due 12/27/2049 ~ | $| 3628 | 3619 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  3.534% due 01/25/2037 ~ |  | 2899 | 2545 |
|  3.817% due 07/25/2037 ~ |  | 48 | 43 |
|  3.878% due 03/25/2037 ~ |  | 2926 | 2634 |
|  4.136% due 12/25/2036 ~ |  | 540 | 492 |
|  4.533% due 11/25/2034 •  |  | 318 | 313 |
|  4.535% due 12/25/2035 ~ |  | 128 | 118 |
|  4.573% due 10/25/2044 •  |  | 1280 | 1268 |
|  4.629% due 04/25/2047 •  |  | 440 | 391 |
|  4.647% due 07/25/2037 ~ |  | 26 | 24 |
|  4.669% due 07/25/2047 •  |  | 369 | 315 |
|  4.923% due 01/25/2035 ~ |  | 2074 | 2020 |
|  5.109% due 01/25/2047 •  |  | 3680 | 3339 |
|  Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC | Warwick Finance Residential Mortgages Number Three PLC |
|  0.000% due 12/21/2049 (f) | GBP | 0 | 1961 |
|  4.695% due 12/21/2049 •  |  | 4288 | 5680 |
|  5.395% due 12/21/2049 •  |  | 2387 | 3163 |
|  5.895% due 12/21/2049 •  |  | 1193 | 1571 |
|  6.395% due 12/21/2049 •  |  | 682 | 896 |
|  6.895% due 12/21/2049 •  |  | 682 | 889 |
|  Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust | Washington Mutual Mortgage Pass-Through Certificates Trust |
|  3.889% due 09/25/2036 þ | $| 4904 | 1271 |
|  4.293% due 02/25/2036 •  |  | 168 | 144 |
|  4.559% due 01/25/2047 •  |  | 1157 | 1023 |
|  5.750% due 11/25/2035 |  | 527 | 500 |
|  6.500% due 03/25/2036 |  | 5806 | 4411 |
|  Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust | Wells Fargo Alternative Loan Trust |
|  4.333% due 03/25/2037 •  |  | 239 | 194 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  5.266% due 10/15/2042 •  |  | 10300 | 10291 |
|  5.315% due 07/15/2037 •  |  | 9100 | 9092 |
|  Wells Fargo Mortgage-Backed Securities Trust | Wells Fargo Mortgage-Backed Securities Trust | Wells Fargo Mortgage-Backed Securities Trust | Wells Fargo Mortgage-Backed Securities Trust |
|  4.293% due 06/25/2037 •  |  | 25 | 22 |
|  5.865% due 11/25/2037 ~ |  | 1770 | 1639 |
|  WSTN Trust | WSTN Trust | WSTN Trust | WSTN Trust |
|  6.297% due 07/05/2037 ~ |  | 16100 | 16274 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $3,772,123) | Total Non-Agency Mortgage-Backed Securities (Cost $3,772,123) | Total Non-Agency Mortgage-Backed Securities (Cost $3,772,123) | 3564342 |
| ASSET-BACKED SECURITIES 27.3% | ASSET-BACKED SECURITIES 27.3% | ASSET-BACKED SECURITIES 27.3% | ASSET-BACKED SECURITIES 27.3% |
| AUTOMOBILE ABS OTHER 1.3% | AUTOMOBILE ABS OTHER 1.3% | AUTOMOBILE ABS OTHER 1.3% | AUTOMOBILE ABS OTHER 1.3% |
|  Ally Bank Auto Credit-Linked Notes | Ally Bank Auto Credit-Linked Notes | Ally Bank Auto Credit-Linked Notes | Ally Bank Auto Credit-Linked Notes |
|  4.648% due 06/15/2033 |  | 9895 | 9918 |
|  5.117% due 09/15/2032 |  | 969 | 976 |
|  5.215% due 09/15/2032 |  | 561 | 565 |
|  5.410% due 09/15/2032 |  | 2679 | 2696 |
|  6.315% due 05/17/2032 |  | 207 | 210 |
|  6.678% due 09/15/2032 |  | 1429 | 1437 |
|  8.036% due 09/15/2032 |  | 612 | 620 |
|  11.395% due 09/15/2032 |  | 2653 | 2704 |
|  CarMax Select Receivables Trust | CarMax Select Receivables Trust | CarMax Select Receivables Trust | CarMax Select Receivables Trust |
|  4.352% due 05/15/2028 •  |  | 4177 | 4181 |
|  4.402% due 09/15/2027 •  |  | 40 | 40 |
|  Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
|  4.670% due 12/10/2030 |  | 19760 | 19812 |
|  4.900% due 12/10/2030 |  | 8558 | 8574 |
|  CPS Auto Receivables Trust | CPS Auto Receivables Trust | CPS Auto Receivables Trust | CPS Auto Receivables Trust |
|  4.650% due 03/15/2029 |  | 6500 | 6509 |
|  4.760% due 01/15/2031 |  | 8700 | 8712 |
|  Drive Auto Receivables Trust | Drive Auto Receivables Trust | Drive Auto Receivables Trust | Drive Auto Receivables Trust |
|  4.520% due 07/16/2029 |  | 20000 | 20043 |
|  4.670% due 05/17/2032 |  | 20000 | 20100 |
|  Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
|  4.480% due 04/16/2029 |  | 9862 | 9874 |
|  4.640% due 01/15/2030 |  | 10000 | 10027 |
|  GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
|  4.890% due 04/16/2029 |  | 6100 | 6129 |
|  5.080% due 01/16/2029 |  | 3200 | 3213 |
|  5.210% due 02/18/2031 |  | 8200 | 8281 |
|  6.440% due 05/15/2029 |  | 3690 | 3771 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
|  5.640% due 08/15/2030 | 500 | 509 |
|  5.920% due 08/15/2030 | 500 | 514 |
|  Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust |
|  4.930% due 09/17/2029 | 9500 | 9558 |
|  SBNA Auto Receivables Trust | SBNA Auto Receivables Trust | SBNA Auto Receivables Trust |
|  5.140% due 04/15/2031 | 6912 | 6928 |
|  5.340% due 09/15/2031 | 7250 | 7267 |
|  |  | 173168 |
| AUTOMOBILE SEQUENTIAL 1.4% | AUTOMOBILE SEQUENTIAL 1.4% | AUTOMOBILE SEQUENTIAL 1.4% |
|  Ally Bank Auto Credit-Linked Notes | Ally Bank Auto Credit-Linked Notes | Ally Bank Auto Credit-Linked Notes |
|  4.452% due 06/15/2033 | 11077 | 11099 |
|  4.970% due 09/15/2032 | 1837 | 1850 |
|  Arivo Acceptance Auto Loan Receivables Trust | Arivo Acceptance Auto Loan Receivables Trust | Arivo Acceptance Auto Loan Receivables Trust |
|  4.920% due 05/15/2029 | 1080 | 1084 |
|  Bridgecrest Lending Auto Securitization Trust | Bridgecrest Lending Auto Securitization Trust | Bridgecrest Lending Auto Securitization Trust |
|  4.720% due 09/15/2028 | 4507 | 4513 |
|  CarMax Select Receivables Trust | CarMax Select Receivables Trust | CarMax Select Receivables Trust |
|  4.760% due 05/15/2028 | 5127 | 5138 |
|  5.400% due 11/15/2028 | 1700 | 1711 |
|  5.780% due 09/15/2027 | 72 | 72 |
|  Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
|  4.310% due 09/10/2030 | 2875 | 2872 |
|  4.500% due 06/12/2028 | 1458 | 1459 |
|  4.530% due 01/10/2029 | 11576 | 11587 |
|  4.640% due 01/10/2030 | 7392 | 7416 |
|  4.740% due 12/10/2030 | 3700 | 3728 |
|  4.850% due 06/12/2028 | 2000 | 2007 |
|  5.710% due 07/10/2028 | 2093 | 2097 |
|  5.710% due 07/10/2029 | 4270 | 4348 |
|  5.820% due 08/10/2028 | 2020 | 2030 |
|  6.160% due 10/10/2028 | 622 | 626 |
|  Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust |
|  5.220% due 07/25/2029 | 11699 | 11801 |
|  CPS Auto Receivables Trust | CPS Auto Receivables Trust | CPS Auto Receivables Trust |
|  4.910% due 06/15/2028 | 520 | 520 |
|  Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC |
|  4.980% due 08/21/2028 | 3500 | 3530 |
|  5.310% due 04/20/2027 | 1150 | 1152 |
|  FCCU Auto Receivables Trust | FCCU Auto Receivables Trust | FCCU Auto Receivables Trust |
|  5.460% due 04/15/2030 | 1200 | 1220 |
|  5.540% due 04/16/2029 | 3347 | 3370 |
|  FHF Issuer Trust | FHF Issuer Trust | FHF Issuer Trust |
|  4.920% due 02/15/2031 | 7699 | 7699 |
|  4.940% due 11/15/2030 | 3875 | 3867 |
|  5.690% due 02/15/2030 | 2748 | 2765 |
|  5.890% due 06/15/2030 | 1967 | 1981 |
|  6.790% due 10/15/2029 | 1644 | 1658 |
|  GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
|  4.750% due 07/17/2028 | 2876 | 2879 |
|  5.020% due 04/17/2028 | 780 | 781 |
|  GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
|  4.430% due 12/17/2029 | 4601 | 4612 |
|  5.240% due 03/15/2030 | 1550 | 1559 |
|  5.590% due 10/15/2029 | 880 | 887 |
|  GMF Canada Leasing Trust | GMF Canada Leasing Trust | GMF Canada Leasing Trust |
|  4.827% due 08/20/2029 | 3329 | 2406 |
|  LAD Auto Receivables Trust | LAD Auto Receivables Trust | LAD Auto Receivables Trust |
|  5.460% due 07/16/2029 | 1200 | 1213 |
|  Lendbuzz Securitization Trust | Lendbuzz Securitization Trust | Lendbuzz Securitization Trust |
|  4.970% due 10/15/2029 | 2722 | 2724 |
|  5.100% due 10/15/2030 | 1996 | 2001 |
|  Octane Receivables Trust | Octane Receivables Trust | Octane Receivables Trust |
|  4.940% due 05/20/2030 | 2742 | 2752 |
|  Oscar U.S. Funding XVII LLC | Oscar U.S. Funding XVII LLC | Oscar U.S. Funding XVII LLC |
|  4.470% due 03/12/2029 | 2200 | 2208 |
|  4.630% due 12/10/2027 | 2431 | 2432 |
|  PenFed Auto Receivables Owner Trust | PenFed Auto Receivables Owner Trust | PenFed Auto Receivables Owner Trust |
|  4.700% due 06/15/2029 | 6303 | 6321 |
|  Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
|  5.124% due 04/25/2034 | 7800 | 7826 |
|  Research-Driven Pagaya Motor Asset Trust IV | Research-Driven Pagaya Motor Asset Trust IV | Research-Driven Pagaya Motor Asset Trust IV |
|  2.650% due 03/25/2030 | 4686 | 4659 |

---

---

| | | |
|:---|:---|:---|
| **174** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Research-Driven Pagaya Motor Asset Trust V | Research-Driven Pagaya Motor Asset Trust V | Research-Driven Pagaya Motor Asset Trust V | Research-Driven Pagaya Motor Asset Trust V |
|  5.320% due 09/25/2030 | $| 2307 | 2319 |
|  Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust |
|  4.620% due 11/15/2028 |  | 2960 | 2963 |
|  4.710% due 06/15/2028 |  | 9622 | 9628 |
|  4.850% due 01/16/2029 |  | 4961 | 4970 |
|  SBNA Auto Lease Trust | SBNA Auto Lease Trust | SBNA Auto Lease Trust | SBNA Auto Lease Trust |
|  6.520% due 04/20/2028 |  | 2088 | 2090 |
|  SCCU Auto Receivables Trust | SCCU Auto Receivables Trust | SCCU Auto Receivables Trust | SCCU Auto Receivables Trust |
|  5.110% due 06/15/2029 |  | 9675 | 9722 |
|  5.160% due 05/15/2030 |  | 9100 | 9217 |
|  5.700% due 10/16/2028 |  | 2419 | 2432 |
|  5.700% due 08/15/2029 |  | 2800 | 2847 |
|  Tricolor Auto Securitization Trust | Tricolor Auto Securitization Trust | Tricolor Auto Securitization Trust | Tricolor Auto Securitization Trust |
|  6.360% due 12/15/2027 |  | 358 | 332 |
|  Veros Auto Receivables Trust | Veros Auto Receivables Trust | Veros Auto Receivables Trust | Veros Auto Receivables Trust |
|  6.280% due 11/15/2027 |  | 117 | 117 |
|  |  |  | 195097 |
| CMBS OTHER 2.2% | CMBS OTHER 2.2% | CMBS OTHER 2.2% | CMBS OTHER 2.2% |
|  Acore Issuer LLC | Acore Issuer LLC | Acore Issuer LLC | Acore Issuer LLC |
|  5.125% due 08/20/2043 •  |  | 29900 | 29882 |
|  ACREC LLC | ACREC LLC | ACREC LLC | ACREC LLC |
|  5.130% due 01/18/2043 •  |  | 19400 | 19390 |
|  ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC |
|  0.000% due 08/18/2044 •  |  | 19800 | 19787 |
|  ACRES LLC | ACRES LLC | ACRES LLC | ACRES LLC |
|  5.299% due 08/18/2040 •  |  | 26900 | 26997 |
|  Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. | Arbor Realty Commercial Real Estate Notes Ltd. |
|  5.137% due 11/15/2036 •  |  | 1129 | 1132 |
|  AREIT Ltd. | AREIT Ltd. | AREIT Ltd. | AREIT Ltd. |
|  5.790% due 08/17/2041 •  |  | 2699 | 2702 |
|  BDS LLC | BDS LLC | BDS LLC | BDS LLC |
|  4.959% due 10/17/2042 •  |  | 500 | 498 |
|  BRSP Ltd. | BRSP Ltd. | BRSP Ltd. | BRSP Ltd. |
|  5.127% due 08/19/2043 •  |  | 20800 | 20762 |
|  FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC | FS Rialto Issuer LLC |
|  0.000% due 01/19/2044 •  |  | 15000 | 15003 |
|  GPMT Ltd. | GPMT Ltd. | GPMT Ltd. | GPMT Ltd. |
|  5.644% due 07/16/2035 •  |  | 7086 | 7086 |
|  6.244% due 07/16/2035 •  |  | 5000 | 5000 |
|  6.694% due 07/16/2035 •  |  | 10000 | 9999 |
|  GS REFT Issuer Ltd. | GS REFT Issuer Ltd. | GS REFT Issuer Ltd. | GS REFT Issuer Ltd. |
|  5.170% due 04/19/2043 •  |  | 25100 | 25163 |
|  LoanCore Issuer Ltd. | LoanCore Issuer Ltd. | LoanCore Issuer Ltd. | LoanCore Issuer Ltd. |
|  5.222% due 01/17/2037 •  |  | 1180 | 1178 |
|  MF1 LLC | MF1 LLC | MF1 LLC | MF1 LLC |
|  5.000% due 02/18/2040 •  |  | 1500 | 1496 |
|  5.130% due 02/18/2043 •  |  | 5900 | 5907 |
|  5.410% due 03/19/2039 •  |  | 9500 | 9505 |
|  MF1 Ltd. | MF1 Ltd. | MF1 Ltd. | MF1 Ltd. |
|  5.544% due 10/16/2036 •  |  | 10000 | 10011 |
|  PFP Ltd. | PFP Ltd. | PFP Ltd. | PFP Ltd. |
|  5.180% due 08/18/2043 •  |  | 19300 | 19322 |
|  5.501% due 09/17/2039 •  |  | 5445 | 5456 |
|  Starwood LLC | Starwood LLC | Starwood LLC | Starwood LLC |
|  5.127% due 11/19/2042 •  |  | 46600 | 46603 |
|  Starwood Ltd. | Starwood Ltd. | Starwood Ltd. | Starwood Ltd. |
|  5.594% due 04/18/2038 •  |  | 5000 | 5035 |
|  5.894% due 04/18/2038 •  |  | 7825 | 7903 |
|  VMC Finance LLC | VMC Finance LLC | VMC Finance LLC | VMC Finance LLC |
|  6.044% due 06/16/2036 •  |  | 2665 | 2639 |
|  |  |  | 298456 |
| FINANCE CONSUMER LOANS 0.0% | FINANCE CONSUMER LOANS 0.0% | FINANCE CONSUMER LOANS 0.0% | FINANCE CONSUMER LOANS 0.0% |
|  SLM Student Loan Trust | SLM Student Loan Trust | SLM Student Loan Trust | SLM Student Loan Trust |
|  2.580% due 07/25/2039 •  | EUR | 558 | 609 |
|  2.700% due 12/15/2033 •  |  | 468 | 511 |
|  |  |  | 1120 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| HOME EQUITY OTHER 6.2% | HOME EQUITY OTHER 6.2% | HOME EQUITY OTHER 6.2% |
|  ABFC Trust | ABFC Trust | ABFC Trust |
|  5.043% due 06/25/2034 •  | 5195 | 5341 |
|  Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust |
|  4.053% due 09/25/2036 •  | 664 | 662 |
|  ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust | ACE Securities Corp. Home Equity Loan Trust |
|  4.033% due 02/25/2037 •  | 2989 | 1232 |
|  4.053% due 10/25/2036 •  | 4956 | 1649 |
|  4.233% due 01/25/2037 •  | 4635 | 976 |
|  4.393% due 02/25/2036 •  | 29 | 29 |
|  4.393% due 12/25/2036 •  | 3307 | 1758 |
|  4.408% due 12/25/2035 •  | 3654 | 3560 |
|  4.473% due 07/25/2033 •  | 3748 | 3653 |
|  4.768% due 11/25/2033 •  | 1569 | 1619 |
|  4.963% due 02/25/2035 •  | 6969 | 6718 |
|  Aegis Asset-Backed Securities Trust | Aegis Asset-Backed Securities Trust | Aegis Asset-Backed Securities Trust |
|  4.738% due 06/25/2035 •  | 15500 | 12518 |
|  Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates | Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates | Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates |
|  5.623% due 12/25/2034 •  | 4286 | 3958 |
|  Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates | Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.363% due 04/25/2036 •  | 12700 | 11933 |
|  4.415% due 06/25/2034 •  | 331 | 314 |
|  4.708% due 01/25/2035 •  | 629 | 659 |
|  4.813% due 01/25/2036 •  | 5000 | 4489 |
|  4.918% due 11/25/2034 •  | 933 | 914 |
|  Argent Securities Trust | Argent Securities Trust | Argent Securities Trust |
|  4.093% due 07/25/2036 •  | 10363 | 9495 |
|  Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates | Argent Securities, Inc. Asset-Backed Pass-Through Certificates |
|  3.642% due 02/25/2034 •  | 237 | 256 |
|  4.553% due 02/25/2036 •  | 5093 | 4182 |
|  Asset-Backed Securities Corp. Home Equity Loan Trust | Asset-Backed Securities Corp. Home Equity Loan Trust | Asset-Backed Securities Corp. Home Equity Loan Trust |
|  3.308% due 03/25/2036 •  | 1414 | 1320 |
|  3.873% due 05/25/2037 •  | 286 | 206 |
|  3.921% due 12/25/2036 •  | 9200 | 8646 |
|  4.753% due 11/25/2033 •  | 2361 | 2430 |
|  Bayview Financial Asset Trust | Bayview Financial Asset Trust | Bayview Financial Asset Trust |
|  4.243% due 03/25/2037 •  | 2850 | 2877 |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.093% due 11/25/2036 •  | 921 | 901 |
|  4.243% due 06/25/2036 •  | 9857 | 9871 |
|  4.873% due 12/25/2035 •  | 5095 | 5138 |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  4.648% due 07/25/2034 •  | 5041 | 5017 |
|  BNC Mortgage Loan Trust | BNC Mortgage Loan Trust | BNC Mortgage Loan Trust |
|  4.013% due 03/25/2037 •  | 29581 | 25415 |
|  4.083% due 05/25/2037 •  | 10000 | 8731 |
|  C-BASS Trust | C-BASS Trust | C-BASS Trust |
|  3.913% due 11/25/2036 •  | 1784 | 827 |
|  Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust | Carrington Mortgage Loan Trust |
|  4.233% due 10/25/2036 •  | 11809 | 10693 |
|  Centex Home Equity Loan Trust | Centex Home Equity Loan Trust | Centex Home Equity Loan Trust |
|  4.753% due 03/25/2035 •  | 1653 | 1649 |
|  CIT Mortgage Loan Trust | CIT Mortgage Loan Trust | CIT Mortgage Loan Trust |
|  5.293% due 10/25/2037 •  | 3479 | 3529 |
|  Citicorp Residential Mortgage Trust | Citicorp Residential Mortgage Trust | Citicorp Residential Mortgage Trust |
|  4.420% due 06/25/2037 þ | 8883 | 7986 |
|  Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates | Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates | Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificates |
|  4.738% due 10/25/2034 •  | 678 | 669 |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  4.053% due 07/25/2045 •  | 4646 | 3285 |
|  4.093% due 12/25/2036 •  | 2681 | 998 |
|  4.113% due 09/25/2036 •  | 1918 | 1486 |
|  4.153% due 01/25/2037 •  | 2158 | 1611 |
|  4.393% due 10/25/2036 •  | 5132 | 2993 |
|  4.468% due 10/25/2035 •  | 467 | 464 |
|  Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates |
|  4.233% due 07/25/2034 •  | 1934 | 1906 |
|  4.493% due 07/25/2034 •  | 5040 | 5003 |
|  4.813% due 10/25/2032 •  | 1253 | 1236 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.043% due 02/25/2036 •  | 704 | 688 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.053% due 12/25/2036 •  | $— | 8801 | $— | 8268 |
|  4.073% due 06/25/2037 •  |  | 5121 |  | 4801 |
|  4.073% due 06/25/2047 •  |  | 16318 |  | 15078 |
|  4.086% due 02/25/2035 ~ |  | 5174 |  | 4445 |
|  4.193% due 09/25/2047 •  |  | 559 |  | 530 |
|  4.228% due 01/25/2037 •  |  | 16600 |  | 15910 |
|  4.233% due 09/25/2037 •  |  | 198 |  | 214 |
|  4.233% due 09/25/2047 •  |  | 679 |  | 707 |
|  4.273% due 03/25/2037 •  |  | 9055 |  | 8749 |
|  4.273% due 10/25/2046 •  |  | 5540 |  | 5472 |
|  4.293% due 04/25/2046 •  |  | 1435 |  | 1407 |
|  4.313% due 09/25/2046 •  |  | 3627 |  | 3506 |
|  4.318% due 07/25/2036 •  |  | 2807 |  | 2799 |
|  4.348% due 07/25/2036 •  |  | 14425 |  | 13843 |
|  4.533% due 08/25/2047 •  |  | 697 |  | 686 |
|  4.693% due 10/25/2034 •  |  | 227 |  | 227 |
|  4.693% due 05/25/2036 •  |  | 354 |  | 351 |
|  4.738% due 11/25/2034 •  |  | 781 |  | 775 |
|  5.293% due 02/25/2035 •  |  | 348 |  | 348 |
|  Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC | Credit-Based Asset Servicing & Securitization LLC |
|  3.185% due 05/25/2036 •  |  | 7450 |  | 5171 |
|  3.672% due 12/25/2035 •  |  | 18 |  | 18 |
|  3.908% due 07/25/2037 •  |  | 84 |  | 56 |
|  Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust | Ellington Loan Acquisition Trust |
|  4.843% due 05/25/2037 •  |  | 1445 |  | 1434 |
|  4.893% due 05/25/2037 •  |  | 2274 |  | 2235 |
|  5.293% due 05/25/2037 •  |  | 3912 |  | 3883 |
|  EMC Mortgage Loan Trust | EMC Mortgage Loan Trust | EMC Mortgage Loan Trust | EMC Mortgage Loan Trust | EMC Mortgage Loan Trust |
|  4.893% due 08/25/2040 •  |  | 487 |  | 494 |
|  Encore Credit Receivables Trust | Encore Credit Receivables Trust | Encore Credit Receivables Trust | Encore Credit Receivables Trust | Encore Credit Receivables Trust |
|  4.828% due 10/25/2035 •  |  | 3552 |  | 3355 |
|  EquiFirst Loan Securitization Trust | EquiFirst Loan Securitization Trust | EquiFirst Loan Securitization Trust | EquiFirst Loan Securitization Trust | EquiFirst Loan Securitization Trust |
|  4.173% due 04/25/2037 •  |  | 18006 |  | 16741 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  3.953% due 08/25/2036 •  |  | 23933 |  | 7380 |
|  4.073% due 01/25/2037 •  |  | 14925 |  | 7705 |
|  4.113% due 05/25/2036 •  |  | 14295 |  | 9416 |
|  4.723% due 04/25/2035 •  |  | 3535 |  | 3507 |
|  GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust | GE-WMC Mortgage Securities Trust |
|  4.093% due 08/25/2036 •  |  | 11970 |  | 5041 |
|  GSAA Home Equity Trust | GSAA Home Equity Trust | GSAA Home Equity Trust | GSAA Home Equity Trust | GSAA Home Equity Trust |
|  4.253% due 04/25/2047 •  |  | 5136 |  | 2228 |
|  4.273% due 12/25/2036 •  |  | 5871 |  | 1980 |
|  4.393% due 05/25/2047 •  |  | 245 |  | 153 |
|  4.513% due 06/25/2035 •  |  | 2299 |  | 2292 |
|  5.668% due 02/25/2035 •  |  | 648 |  | 659 |
|  5.825% due 06/25/2036 ~ |  | 13781 |  | 2979 |
|  5.985% due 06/25/2036 ~ |  | 601 |  | 130 |
|  6.000% due 10/25/2037 |  | 1 |  | 1 |
|  6.032% due 05/25/2037 þ |  | 7245 |  | 3140 |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  4.033% due 12/25/2036 •  |  | 689 |  | 341 |
|  4.073% due 12/25/2036 •  |  | 4873 |  | 2601 |
|  4.093% due 08/25/2036 •  |  | 8904 |  | 7724 |
|  4.678% due 07/25/2045 •  |  | 4400 |  | 4196 |
|  Home Equity Asset Trust | Home Equity Asset Trust | Home Equity Asset Trust | Home Equity Asset Trust | Home Equity Asset Trust |
|  4.498% due 01/25/2036 •  |  | 9788 |  | 9481 |
|  Home Equity Loan Trust | Home Equity Loan Trust | Home Equity Loan Trust | Home Equity Loan Trust | Home Equity Loan Trust |
|  4.133% due 04/25/2037 •  |  | 600 |  | 540 |
|  Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust | Home Equity Mortgage Loan Asset-Backed Trust |
|  4.033% due 04/25/2037 •  |  | 5009 |  | 3412 |
|  4.273% due 08/25/2036 •  |  | 8403 |  | 7809 |
|  HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust | HSI Asset Securitization Corp. Trust |
|  3.943% due 12/25/2036 •  |  | 3183 |  | 2882 |
|  3.993% due 07/25/2036 •  |  | 6388 |  | 2712 |
|  4.173% due 01/25/2037 •  |  | 2075 |  | 1477 |
|  4.573% due 11/25/2035 •  |  | 461 |  | 437 |
|  JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. |
|  4.303% due 02/25/2036 •  |  | 1570 |  | 1561 |
|  4.723% due 12/25/2035 •  |  | 416 |  | 412 |
|  JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust | JP Morgan Mortgage Acquisition Trust |
|  4.213% due 10/25/2036 •  |  | 153 |  | 153 |
|  4.545% due 11/25/2036 •  |  | 2684 |  | 2960 |
|  Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust |
|  4.083% due 07/25/2036 •  |  | 7953 |  | 5690 |
|  4.093% due 05/25/2036 •  |  | 1452 |  | 764 |
|  4.113% due 09/25/2036 •  |  | 22407 |  | 5575 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **175** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.113% due 10/25/2036 •  | $— | 17933 | $— | 5460 |
|  4.233% due 06/25/2034 •  |  | 789 |  | 772 |
|  4.498% due 11/25/2035 •  |  | 6944 |  | 6918 |
|  4.588% due 06/25/2034 •  |  | 20 |  | 20 |
|  4.708% due 08/25/2035 •  |  | 3000 |  | 2789 |
|  5.068% due 02/25/2035 •  |  | 1629 |  | 1614 |
|  MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust | MASTR Asset-Backed Securities Trust |
|  3.328% due 10/25/2036 •  |  | 1902 |  | 908 |
|  4.093% due 06/25/2036 •  |  | 8854 |  | 2913 |
|  4.153% due 02/25/2036 •  |  | 4518 |  | 1609 |
|  4.253% due 01/25/2037 •  |  | 9865 |  | 2717 |
|  4.273% due 10/25/2036 •  |  | 6413 |  | 5853 |
|  4.543% due 10/25/2035 •  |  | 3796 |  | 3777 |
|  4.573% due 02/25/2034 •  |  | 705 |  | 756 |
|  4.843% due 05/25/2035 •  |  | 3080 |  | 3094 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.013% due 08/25/2037 •  |  | 2393 |  | 1169 |
|  4.073% due 04/25/2047 •  |  | 9808 |  | 3716 |
|  4.083% due 08/25/2037 •  |  | 7253 |  | 6724 |
|  4.093% due 08/25/2037 •  |  | 22057 |  | 10777 |
|  4.173% due 04/25/2047 •  |  | 4177 |  | 1583 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  3.853% due 05/25/2037 •  |  | 3250 |  | 2479 |
|  3.893% due 10/25/2036 •  |  | 6105 |  | 2663 |
|  3.895% due 01/25/2035 •  |  | 6397 |  | 5970 |
|  4.003% due 01/25/2037 •  |  | 3546 |  | 1630 |
|  4.253% due 09/25/2036 •  |  | 4643 |  | 1949 |
|  4.678% due 11/25/2034 •  |  | 1524 |  | 1477 |
|  4.723% due 07/25/2034 •  |  | 73 |  | 78 |
|  4.768% due 02/25/2035 •  |  | 6058 |  | 5113 |
|  4.843% due 04/25/2035 •  |  | 122 |  | 116 |
|  7.593% due 02/25/2047 •  |  | 3444 |  | 2843 |
|  Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust |
|  3.863% due 11/25/2036 •  |  | 8925 |  | 2905 |
|  3.943% due 11/25/2036 •  |  | 13713 |  | 4464 |
|  4.093% due 07/25/2036 •  |  | 15374 |  | 5926 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  6.226% due 10/25/2036 þ |  | 2177 |  | 566 |
|  New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |
|  4.738% due 06/25/2035 •  |  | 2112 |  | 2286 |
|  NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust | NovaStar Mortgage Funding Trust |
|  5.893% due 12/25/2034 •  |  | 120 |  | 113 |
|  Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |
|  3.923% due 07/25/2037 •  |  | 1916 |  | 1243 |
|  3.973% due 04/25/2037 •  |  | 148 |  | 85 |
|  4.528% due 05/25/2035 •  |  | 1351 |  | 1322 |
|  Option One Mortgage Loan Trust Asset-Backed Certificates | Option One Mortgage Loan Trust Asset-Backed Certificates | Option One Mortgage Loan Trust Asset-Backed Certificates | Option One Mortgage Loan Trust Asset-Backed Certificates | Option One Mortgage Loan Trust Asset-Backed Certificates |
|  4.483% due 11/25/2035 •  |  | 4573 |  | 4457 |
|  Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates |
|  4.918% due 10/25/2034 •  |  | 8765 |  | 8838 |
|  5.668% due 09/25/2034 •  |  | 128 |  | 126 |
|  5.893% due 09/25/2034 •  |  | 9202 |  | 8280 |
|  People's Choice Home Loan Securities Trust | People's Choice Home Loan Securities Trust | People's Choice Home Loan Securities Trust | People's Choice Home Loan Securities Trust | People's Choice Home Loan Securities Trust |
|  4.678% due 06/25/2034 •  |  | 2013 |  | 1902 |
|  Popular ABS Mortgage Pass-Through Trust | Popular ABS Mortgage Pass-Through Trust | Popular ABS Mortgage Pass-Through Trust | Popular ABS Mortgage Pass-Through Trust | Popular ABS Mortgage Pass-Through Trust |
|  4.288% due 07/25/2036 •  |  | 3447 |  | 3314 |
|  RAAC Trust | RAAC Trust | RAAC Trust | RAAC Trust | RAAC Trust |
|  4.493% due 03/25/2034 •  |  | 27 |  | 27 |
|  RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
|  4.795% due 09/25/2055 þ |  | 20083 |  | 19929 |
|  4.966% due 11/25/2055 þ |  | 13357 |  | 13291 |
|  5.158% due 10/25/2044 þ |  | 6534 |  | 6531 |
|  5.344% due 09/25/2044 þ |  | 4248 |  | 4253 |
|  5.472% due 06/25/2055 þ |  | 15584 |  | 15647 |
|  5.553% due 03/25/2055 þ |  | 7354 |  | 7400 |
|  5.582% due 12/25/2044 þ |  | 8819 |  | 8860 |
|  5.653% due 01/25/2045 þ |  | 6753 |  | 6791 |
|  5.846% due 08/25/2044 þ |  | 8671 |  | 8722 |
|  6.025% due 02/25/2044 ~ |  | 1766 |  | 1775 |
|  6.141% due 04/25/2044 ~ |  | 9282 |  | 9345 |
|  6.147% due 06/25/2044 þ |  | 10234 |  | 10312 |
|  Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust |
|  5.473% due 01/25/2037 þ |  | 9077 |  | 2773 |
|  5.608% due 05/25/2036 þ |  | 6712 |  | 2856 |
|  5.746% due 05/25/2036 þ |  | 2134 |  | 930 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.951% due 05/25/2035 þ | 5227 | 5220 |
|  6.011% due 05/25/2036 þ | 3091 | 1407 |
|  6.166% due 05/25/2036 þ | 3374 | 1575 |
|  Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust |
|  4.473% due 12/25/2035 •  | 5931 | 5395 |
|  Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust | Residential Asset Securities Corporation Trust |
|  4.253% due 06/25/2036 •  | 5848 | 5809 |
|  4.798% due 05/25/2035 •  | 2273 | 2246 |
|  4.828% due 08/25/2035 •  | 11600 | 11447 |
|  Saxon Asset Securities Trust | Saxon Asset Securities Trust | Saxon Asset Securities Trust |
|  4.103% due 09/25/2037 •  | 753 | 733 |
|  4.228% due 09/25/2036 •  | 1914 | 1850 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  3.973% due 07/25/2036 •  | 2955 | 951 |
|  4.173% due 05/25/2037 •  | 6007 | 5382 |
|  4.408% due 01/25/2035 •  | 7108 | 6877 |
|  Soundview Home Loan Trust | Soundview Home Loan Trust | Soundview Home Loan Trust |
|  3.963% due 07/25/2037 •  | 205 | 184 |
|  4.013% due 01/25/2037 •  | 2095 | 1530 |
|  4.293% due 06/25/2036 •  | 616 | 615 |
|  4.353% due 05/25/2036 •  | 5832 | 5739 |
|  4.783% due 06/25/2035 •  | 2983 | 3223 |
|  Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust |
|  4.138% due 07/25/2036 •  | 5622 | 3278 |
|  4.393% due 04/25/2036 •  | 31657 | 15067 |
|  4.558% due 08/25/2035 •  | 2081 | 2047 |
|  4.593% due 04/25/2034 •  | 2316 | 2276 |
|  Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust | Structured Asset Securities Corp. Mortgage Loan Trust |
|  4.063% due 02/25/2037 •  | 8612 | 8395 |
|  4.113% due 12/25/2036 •  | 14850 | 14447 |
|  4.213% due 02/25/2037 •  | 3170 | 3126 |
|  4.798% due 11/25/2035 •  | 163 | 163 |
|  Terwin Mortgage Trust | Terwin Mortgage Trust | Terwin Mortgage Trust |
|  4.293% due 05/25/2038 •  | 4211 | 2196 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  5.091% due 10/25/2065 þ | 13744 | 13684 |
|  5.278% due 08/25/2065 þ | 15897 | 15891 |
|  5.348% due 07/25/2065 þ | 6252 | 6257 |
|  5.725% due 11/25/2064 þ | 7005 | 7035 |
|  6.290% due 05/25/2064 ~ | 8821 | 8899 |
|  Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust |
|  5.893% due 11/25/2035 •  | 12824 | 12783 |
|  |  | 848814 |
| HOME EQUITY SEQUENTIAL 0.1% | HOME EQUITY SEQUENTIAL 0.1% | HOME EQUITY SEQUENTIAL 0.1% |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  4.273% due 04/25/2037 •  | 1377 | 362 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  4.961% due 01/25/2066 þ | 8989 | 8939 |
|  |  | 9301 |
| MANUFACTURING HOUSE SEQUENTIAL 0.0% | MANUFACTURING HOUSE SEQUENTIAL 0.0% | MANUFACTURING HOUSE SEQUENTIAL 0.0% |
|  Cascade MH Asset Trust | Cascade MH Asset Trust | Cascade MH Asset Trust |
|  5.695% due 11/25/2056 ~ | 1325 | 1342 |
|  Conseco Finance Securitizations Corp. | Conseco Finance Securitizations Corp. | Conseco Finance Securitizations Corp. |
|  8.310% due 05/01/2032 ~ | 19650 | 2357 |
|  |  | 3699 |
| WHOLE LOAN COLLATERAL 1.0% | WHOLE LOAN COLLATERAL 1.0% | WHOLE LOAN COLLATERAL 1.0% |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  6.000% due 03/25/2036 | 3470 | 1239 |
|  Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust | Bear Stearns Asset-Backed Securities Trust |
|  4.993% due 06/25/2036 •  | 465 | 466 |
|  6.093% due 09/25/2033 •  | 73 | 44 |
|  6.500% due 09/25/2046 | 16151 | 2579 |
|  Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates | Countrywide Asset-Backed Certificates |
|  4.273% due 04/25/2036 •  | 157 | 146 |
|  First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust |
|  3.953% due 11/25/2036 •  | 69 | 74 |
|  4.013% due 12/25/2037 •  | 804 | 782 |
|  4.113% due 04/25/2036 •  | 1622 | 1606 |
|  4.363% due 02/25/2036 •  | 5204 | 4968 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.543% due 12/25/2035 •  | 6739 | 6629 |
|  4.603% due 10/25/2035 •  | 4988 | 6074 |
|  4.738% due 06/25/2034 •  | 2096 | 2082 |
|  5.443% due 01/25/2035 •  | 5671 | 5638 |
|  IndyMac INDB Mortgage Loan Trust | IndyMac INDB Mortgage Loan Trust | IndyMac INDB Mortgage Loan Trust |
|  3.933% due 07/25/2036 •  | 10211 | 3190 |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.033% due 02/25/2037 •  | 3205 | 3220 |
|  4.113% due 02/25/2037 •  | 1190 | 1177 |
|  Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC |
|  5.180% due 01/25/2056 þ | 5360 | 5321 |
|  5.184% due 11/25/2055 þ | 3384 | 3363 |
|  5.193% due 10/25/2055 þ | 1534 | 1536 |
|  5.265% due 12/25/2055 þ | 5907 | 5872 |
|  5.342% due 12/25/2055 þ | 8208 | 8183 |
|  5.657% due 08/25/2055 þ | 3243 | 3252 |
|  5.732% due 08/25/2055 þ | 938 | 941 |
|  6.244% due 05/25/2055 þ | 10808 | 10833 |
|  6.368% due 04/25/2055 þ | 12285 | 12305 |
|  RAAC Trust | RAAC Trust | RAAC Trust |
|  4.393% due 06/25/2044 •  | 16 | 15 |
|  5.293% due 09/25/2047 •  | 3661 | 3710 |
|  RCO X Mortgage LLC | RCO X Mortgage LLC | RCO X Mortgage LLC |
|  5.418% due 10/25/2030 þ | 4399 | 4391 |
|  Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust | Residential Asset Mortgage Products Trust |
|  4.843% due 07/25/2035 •  | 2500 | 2304 |
|  5.043% due 10/25/2034 •  | 8361 | 7983 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  3.913% due 09/25/2036 •  | 2206 | 1587 |
|  4.113% due 09/25/2036 •  | 19271 | 13866 |
|  4.273% due 09/25/2036 •  | 3525 | 2536 |
|  Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust | Specialty Underwriting & Residential Finance Trust |
|  4.093% due 09/25/2037 •  | 814 | 569 |
|  4.493% due 03/25/2037 •  | 248 | 128 |
|  |  | 128609 |
| OTHER ABS 15.1% | OTHER ABS 15.1% | OTHER ABS 15.1% |
|  37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. | 37 Capital CLO 1 Ltd. |
|  4.952% due 10/15/2034 •  | 9400 | 9413 |
|  37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. | 37 Capital CLO 4 Ltd. |
|  4.762% due 04/15/2035 •  | 2100 | 2101 |
|  522 Funding CLO Ltd. | 522 Funding CLO Ltd. | 522 Funding CLO Ltd. |
|  4.871% due 10/23/2034 •  | 4600 | 4606 |
|  ACHV ABS Trust | ACHV ABS Trust | ACHV ABS Trust |
|  4.760% due 04/26/2032 | 679 | 681 |
|  5.010% due 12/26/2031 | 362 | 364 |
|  5.040% due 04/26/2032 | 975 | 978 |
|  5.070% due 10/27/2031 | 780 | 783 |
|  Affirm Master Trust | Affirm Master Trust | Affirm Master Trust |
|  4.450% due 10/16/2034 | 2600 | 2591 |
|  4.990% due 02/15/2033 | 25800 | 25966 |
|  AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. | AMMC CLO 24 Ltd. |
|  4.868% due 01/20/2035 •  | 5500 | 5502 |
|  AMSR Trust | AMSR Trust | AMSR Trust |
|  1.953% due 06/17/2038 | 4000 | 3779 |
|  Anchorage Capital CLO 21 Ltd. | Anchorage Capital CLO 21 Ltd. | Anchorage Capital CLO 21 Ltd. |
|  4.718% due 10/20/2034 •  | 19500 | 19508 |
|  Anchorage Credit Funding 10 Ltd. | Anchorage Credit Funding 10 Ltd. | Anchorage Credit Funding 10 Ltd. |
|  3.619% due 04/25/2038 | 6256 | 6112 |
|  4.169% due 04/25/2038 | 1000 | 956 |
|  Anchorage Credit Funding 11 Ltd. | Anchorage Credit Funding 11 Ltd. | Anchorage Credit Funding 11 Ltd. |
|  3.400% due 04/25/2038 | 22340 | 21747 |
|  Anchorage Credit Funding 12 Ltd. | Anchorage Credit Funding 12 Ltd. | Anchorage Credit Funding 12 Ltd. |
|  3.177% due 10/25/2038 | 951 | 922 |
|  Anchorage Credit Funding 13 Ltd. | Anchorage Credit Funding 13 Ltd. | Anchorage Credit Funding 13 Ltd. |
|  2.875% due 07/27/2039 | 1000 | 959 |
|  Anchorage Credit Funding 14 Ltd. | Anchorage Credit Funding 14 Ltd. | Anchorage Credit Funding 14 Ltd. |
|  3.000% due 01/21/2040 | 1000 | 956 |
|  Anchorage Credit Funding 18 Ltd. | Anchorage Credit Funding 18 Ltd. | Anchorage Credit Funding 18 Ltd. |
|  5.327% due 10/22/2040 | 25000 | 24792 |
|  5.702% due 10/22/2040 | 5000 | 4967 |
|  Anchorage Credit Funding 20 Ltd. | Anchorage Credit Funding 20 Ltd. | Anchorage Credit Funding 20 Ltd. |
|  4.896% due 04/25/2042 (c) | 31200 | 31200 |
|  5.196% due 04/25/2042 (c) | 5200 | 5200 |

---

---

| | | |
|:---|:---|:---|
| **176** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Anchorage Credit Funding 3 Ltd. | Anchorage Credit Funding 3 Ltd. | Anchorage Credit Funding 3 Ltd. |
|  2.871% due 01/28/2039 | 5300 | 5067 |
|  Anchorage Credit Funding 8 Ltd. | Anchorage Credit Funding 8 Ltd. | Anchorage Credit Funding 8 Ltd. |
|  4.430% due 07/25/2037 | 4288 | 4246 |
|  Anchorage Credit Funding 9 Ltd. | Anchorage Credit Funding 9 Ltd. | Anchorage Credit Funding 9 Ltd. |
|  3.793% due 10/25/2037 | 6216 | 6132 |
|  Apidos CLO XI | Apidos CLO XI | Apidos CLO XI |
|  4.908% due 04/17/2034 •  | 2400 | 2403 |
|  Arbour CLO VI DAC | Arbour CLO VI DAC | Arbour CLO VI DAC |
|  3.134% due 11/15/2037 •  | 2000 | 2312 |
|  ARES LXII CLO Ltd. | ARES LXII CLO Ltd. | ARES LXII CLO Ltd. |
|  4.738% due 01/25/2034 •  | 25200 | 25208 |
|  ARES XLIV CLO Ltd. | ARES XLIV CLO Ltd. | ARES XLIV CLO Ltd. |
|  4.802% due 04/15/2034 •  | 3800 | 3804 |
|  ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. |
|  4.821% due 10/28/2034 •  | 19100 | 19123 |
|  Ascent Education Funding Trust | Ascent Education Funding Trust | Ascent Education Funding Trust |
|  6.140% due 10/25/2050 | 2180 | 2226 |
|  Atlantic Avenue Ltd. | Atlantic Avenue Ltd. | Atlantic Avenue Ltd. |
|  4.928% due 01/20/2035 •  | 21900 | 21912 |
|  Atlas Senior Loan Fund XVII Ltd. | Atlas Senior Loan Fund XVII Ltd. | Atlas Senior Loan Fund XVII Ltd. |
|  4.728% due 10/20/2034 •  | 1000 | 1000 |
|  Ayresome CDO I Ltd. | Ayresome CDO I Ltd. | Ayresome CDO I Ltd. |
|  7.080% due 12/08/2045 •  | 2266 | 545 |
|  Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |
|  4.661% due 04/23/2035 •  | 31000 | 31008 |
|  4.728% due 07/24/2034 •  | 11600 | 11608 |
|  4.821% due 10/23/2034 •  | 1800 | 1802 |
|  BHG Securitization Trust | BHG Securitization Trust | BHG Securitization Trust |
|  4.820% due 04/17/2036 | 3175 | 3184 |
|  4.840% due 09/17/2036 | 9778 | 9809 |
|  5.260% due 04/17/2036 | 5503 | 5538 |
|  BlackRock European CLO VII DAC | BlackRock European CLO VII DAC | BlackRock European CLO VII DAC |
|  2.636% due 10/15/2031 •  | 1162 | 1344 |
|  BNPP AM Euro CLO DAC | BNPP AM Euro CLO DAC | BNPP AM Euro CLO DAC |
|  2.666% due 10/15/2031 •  | 203 | 235 |
|  Bosphorus CLO IX DAC | Bosphorus CLO IX DAC | Bosphorus CLO IX DAC |
|  0.000% due 04/15/2038 •(c) | 2100 | 2427 |
|  C-BASS CBO XII Ltd. | C-BASS CBO XII Ltd. | C-BASS CBO XII Ltd. |
|  7.090% due 12/15/2034 •  | 15662 | 1051 |
|  C-BASS CBO XV Ltd. | C-BASS CBO XV Ltd. | C-BASS CBO XV Ltd. |
|  7.020% due 02/16/2041 ^•(d) | 248640 | 3644 |
|  Canyon CLO Ltd. | Canyon CLO Ltd. | Canyon CLO Ltd. |
|  4.752% due 07/15/2034 •  | 800 | 801 |
|  Capital Four CLO X DAC | Capital Four CLO X DAC | Capital Four CLO X DAC |
|  3.279% due 10/25/2038 •  | 2500 | 2885 |
|  Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust |
|  4.772% due 08/16/2029 •  | 13000 | 12987 |
|  Carlyle Euro CLO DAC | Carlyle Euro CLO DAC | Carlyle Euro CLO DAC |
|  2.716% due 01/15/2031 •  | 818 | 946 |
|  Carlyle Global Market Strategies CLO Ltd. | Carlyle Global Market Strategies CLO Ltd. | Carlyle Global Market Strategies CLO Ltd. |
|  4.758% due 07/20/2034 •  | 28500 | 28518 |
|  CarVal CLO III Ltd. | CarVal CLO III Ltd. | CarVal CLO III Ltd. |
|  4.658% due 07/20/2032 •  | 15618 | 15608 |
|  Centerbridge Credit Funding 1 Ltd. | Centerbridge Credit Funding 1 Ltd. | Centerbridge Credit Funding 1 Ltd. |
|  3.164% due 07/25/2039 | 3800 | 3683 |
|  College Avenue Student Loans LLC | College Avenue Student Loans LLC | College Avenue Student Loans LLC |
|  1.600% due 07/25/2051 | 8079 | 7454 |
|  1.760% due 06/25/2052 | 6535 | 5946 |
|  2.320% due 07/26/2055 | 3664 | 3419 |
|  4.130% due 12/26/2047 | 1006 | 989 |
|  4.993% due 12/26/2047 •  | 733 | 734 |
|  5.443% due 11/26/2046 •  | 1348 | 1361 |
|  Cologix Canadian Issuer LP | Cologix Canadian Issuer LP | Cologix Canadian Issuer LP |
|  4.940% due 01/25/2052 | 30000 | 21446 |
|  Commonbond Student Loan Trust | Commonbond Student Loan Trust | Commonbond Student Loan Trust |
|  1.980% due 08/25/2050 | 3407 | 3063 |
|  Consumer Loan Finance Issuer Trust | Consumer Loan Finance Issuer Trust | Consumer Loan Finance Issuer Trust |
|  0.000% due 11/25/2054 «(f) | 2476 | 1298 |
|  5.150% due 11/25/2054 | 1801 | 1807 |
|  5.350% due 11/25/2054 | 10264 | 10411 |
|  5.450% due 11/25/2054 | 2372 | 2394 |
|  5.750% due 11/25/2054 | 1186 | 1193 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.600% due 11/25/2054 | $— | 1530 | $— | 1533 |
|  8.750% due 11/25/2054 |  | 892 |  | 900 |
|  CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. |
|  4.868% due 01/20/2035 •  |  | 9000 |  | 9003 |
|  Crossroads Asset Trust | Crossroads Asset Trust | Crossroads Asset Trust | Crossroads Asset Trust | Crossroads Asset Trust |
|  4.910% due 02/20/2032 |  | 1804 |  | 1813 |
|  CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC | CVC Cordatus Loan Fund XII DAC |
|  3.285% due 01/23/2039 •  |  | 2500 |  | 2886 |
|  CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC | CVC Cordatus Opportunity Loan Fund-R DAC |
|  3.524% due 08/15/2033 •  |  | 2800 |  | 3234 |
|  Dryden 27 R Euro CLO DAC | Dryden 27 R Euro CLO DAC | Dryden 27 R Euro CLO DAC | Dryden 27 R Euro CLO DAC | Dryden 27 R Euro CLO DAC |
|  1.650% due 04/15/2033 |  | 5600 |  | 6110 |
|  2.676% due 04/15/2033 •  |  | 2310 |  | 2673 |
|  Dryden 43 Senior Loan Fund | Dryden 43 Senior Loan Fund | Dryden 43 Senior Loan Fund | Dryden 43 Senior Loan Fund | Dryden 43 Senior Loan Fund |
|  4.738% due 04/20/2034 •  | $— | 1000 |  | 1001 |
|  Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. |
|  4.798% due 07/25/2034 •  |  | 18700 |  | 18719 |
|  4.968% due 01/25/2035 •  |  | 19700 |  | 19711 |
|  5.268% due 01/25/2035 •  |  | 2200 |  | 2202 |
|  5.518% due 01/25/2035 •  |  | 3500 |  | 3480 |
|  Euro-Galaxy III CLO DAC | Euro-Galaxy III CLO DAC | Euro-Galaxy III CLO DAC | Euro-Galaxy III CLO DAC | Euro-Galaxy III CLO DAC |
|  1.600% due 04/24/2034 |  | 2800 |  | 3029 |
|  2.650% due 04/24/2034 •  |  | 3679 |  | 4258 |
|  3.430% due 04/24/2034 •  |  | 2200 |  | 2528 |
|  Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. | Fortress Credit BSL VII Ltd. |
|  4.761% due 07/23/2032 •  | $— | 2043 |  | 2045 |
|  Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. |
|  4.768% due 04/20/2033 •  |  | 5049 |  | 5052 |
|  Goodgreen Trust | Goodgreen Trust | Goodgreen Trust | Goodgreen Trust | Goodgreen Trust |
|  3.930% due 10/15/2053 ~ |  | 3930 |  | 3684 |
|  GoodLeap Home Improvement Solutions Trust | GoodLeap Home Improvement Solutions Trust | GoodLeap Home Improvement Solutions Trust | GoodLeap Home Improvement Solutions Trust | GoodLeap Home Improvement Solutions Trust |
|  5.320% due 06/20/2049 |  | 7986 |  | 8039 |
|  GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust |
|  4.890% due 06/25/2060 |  | 4464 |  | 4462 |
|  4.930% due 06/25/2060 |  | 2916 |  | 2926 |
|  5.020% due 06/25/2060 |  | 3300 |  | 3339 |
|  5.120% due 03/25/2060 |  | 2346 |  | 2352 |
|  5.150% due 10/27/2059 |  | 2007 |  | 2025 |
|  5.220% due 03/25/2060 |  | 2667 |  | 2684 |
|  5.250% due 10/27/2059 |  | 162 |  | 163 |
|  5.260% due 10/27/2059 |  | 3357 |  | 3370 |
|  5.320% due 03/25/2060 |  | 7100 |  | 7221 |
|  5.550% due 06/25/2059 |  | 1800 |  | 1832 |
|  5.550% due 10/27/2059 |  | 1248 |  | 1255 |
|  5.870% due 06/25/2059 |  | 3732 |  | 3782 |
|  5.880% due 06/25/2059 |  | 524 |  | 525 |
|  6.360% due 06/25/2059 |  | 1120 |  | 1140 |
|  6.430% due 10/27/2059 |  | 560 |  | 566 |
|  7.330% due 06/25/2059 |  | 3732 |  | 3837 |
|  Greywolf CLO III Ltd. | Greywolf CLO III Ltd. | Greywolf CLO III Ltd. | Greywolf CLO III Ltd. | Greywolf CLO III Ltd. |
|  4.899% due 04/22/2033 •  |  | 12392 |  | 12404 |
|  5.519% due 04/22/2033 •  |  | 7700 |  | 7714 |
|  Guggenheim CLO Ltd. | Guggenheim CLO Ltd. | Guggenheim CLO Ltd. | Guggenheim CLO Ltd. | Guggenheim CLO Ltd. |
|  4.822% due 01/15/2035 •  |  | 14000 |  | 14005 |
|  Hildene TruPS Financials Note Securitization Ltd. | Hildene TruPS Financials Note Securitization Ltd. | Hildene TruPS Financials Note Securitization Ltd. | Hildene TruPS Financials Note Securitization Ltd. | Hildene TruPS Financials Note Securitization Ltd. |
|  5.271% due 10/10/2038 •  |  | 13190 |  | 13201 |
|  Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust |
|  1.901% due 12/17/2026 |  | 6320 |  | 6203 |
|  2.200% due 01/17/2041 |  | 2212 |  | 2079 |
|  ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. | ICG U.S. CLO Ltd. |
|  4.661% due 01/16/2033 •  |  | 3786 |  | 3789 |
|  4.818% due 10/20/2034 •  |  | 17300 |  | 17321 |
|  IFC Emerging Markets Securitization Ltd. | IFC Emerging Markets Securitization Ltd. | IFC Emerging Markets Securitization Ltd. | IFC Emerging Markets Securitization Ltd. | IFC Emerging Markets Securitization Ltd. |
|  4.971% due 12/31/2035 •  |  | 25304 |  | 25335 |
|  Indigo Credit Management II DAC | Indigo Credit Management II DAC | Indigo Credit Management II DAC | Indigo Credit Management II DAC | Indigo Credit Management II DAC |
|  4.116% due 07/15/2038 •  |  | 2000 |  | 2316 |
|  Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. |
|  4.788% due 07/25/2034 •  | $— | 21200 |  | 21218 |
|  Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. | Jamestown CLO XVIII Ltd. |
|  4.938% due 07/25/2035 •  |  | 20100 |  | 20127 |
|  Jubilee CLO DAC | Jubilee CLO DAC | Jubilee CLO DAC | Jubilee CLO DAC | Jubilee CLO DAC |
|  1.650% due 04/15/2031 |  | 1700 |  | 1875 |
|  2.666% due 04/15/2031 •  |  | 1932 |  | 2236 |
|  KKR CLO 21 Ltd. | KKR CLO 21 Ltd. | KKR CLO 21 Ltd. | KKR CLO 21 Ltd. | KKR CLO 21 Ltd. |
|  5.334% due 04/15/2031 •  | $— | 11700 |  | 11722 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  LCM 31 Ltd. | LCM 31 Ltd. | LCM 31 Ltd. |
|  4.948% due 07/20/2034 •  | 6750 | 6759 |
|  LCM 36 Ltd. | LCM 36 Ltd. | LCM 36 Ltd. |
|  4.742% due 01/15/2034 •  | 1000 | 1000 |
|  LendingPoint Pass-Through Trust | LendingPoint Pass-Through Trust | LendingPoint Pass-Through Trust |
|  5.700% due 07/15/2029 | 86 | 85 |
|  Lendmark Funding Trust | Lendmark Funding Trust | Lendmark Funding Trust |
|  4.470% due 02/21/2034 | 700 | 699 |
|  5.530% due 06/21/2032 | 5400 | 5444 |
|  Lyra Music Assets Delaware LP | Lyra Music Assets Delaware LP | Lyra Music Assets Delaware LP |
|  5.760% due 12/22/2064 | 25895 | 26060 |
|  Madison Park Funding XLIX Ltd. | Madison Park Funding XLIX Ltd. | Madison Park Funding XLIX Ltd. |
|  4.718% due 10/19/2034 •  | 20000 | 20009 |
|  Madison Park Funding XLVI Ltd. | Madison Park Funding XLVI Ltd. | Madison Park Funding XLVI Ltd. |
|  4.672% due 10/15/2034 •  | 31900 | 31879 |
|  Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. | Madison Park Funding XXXIX Ltd. |
|  4.919% due 10/22/2034 •  | 2600 | 2604 |
|  Madison Park Funding XXXVI Ltd. | Madison Park Funding XXXVI Ltd. | Madison Park Funding XXXVI Ltd. |
|  4.732% due 04/15/2035 •  | 1000 | 1000 |
|  Marlette Funding Trust | Marlette Funding Trust | Marlette Funding Trust |
|  7.130% due 12/15/2033 | 1244 | 1251 |
|  Mountain View CLO XIV Ltd. | Mountain View CLO XIV Ltd. | Mountain View CLO XIV Ltd. |
|  6.813% due 10/15/2034 •  | 17100 | 17121 |
|  Navient Private Education Refi Loan Trust | Navient Private Education Refi Loan Trust | Navient Private Education Refi Loan Trust |
|  1.690% due 05/15/2069 | 3091 | 2954 |
|  4.000% due 12/15/2059 | 1271 | 1265 |
|  4.837% due 12/15/2059 •  | 823 | 824 |
|  Navient Refinance Loan Trust | Navient Refinance Loan Trust | Navient Refinance Loan Trust |
|  5.150% due 02/16/2055 | 4148 | 4171 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.610% due 02/21/2061 | 65063 | 64275 |
|  4.840% due 05/17/2055 | 22027 | 21947 |
|  4.973% due 02/21/2061 •  | 16266 | 16352 |
|  5.022% due 05/17/2055 •  | 22027 | 22169 |
|  5.873% due 02/20/2041 •  | 7542 | 7704 |
|  6.640% due 02/20/2041 | 7044 | 7287 |
|  Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. | Northwoods Capital XII-B Ltd. |
|  4.864% due 06/15/2031 •  | 3386 | 3390 |
|  Ocean Trails CLO X | Ocean Trails CLO X | Ocean Trails CLO X |
|  5.372% due 10/15/2034 •  | 1400 | 1401 |
|  Octagon Investment Partners 40 Ltd. | Octagon Investment Partners 40 Ltd. | Octagon Investment Partners 40 Ltd. |
|  4.708% due 01/20/2035 •  | 26200 | 26208 |
|  OFSI BSL X Ltd. | OFSI BSL X Ltd. | OFSI BSL X Ltd. |
|  4.938% due 04/20/2034 •  | 13000 | 13017 |
|  OneMain Financial Issuance Trust | OneMain Financial Issuance Trust | OneMain Financial Issuance Trust |
|  5.172% due 09/15/2036 •  | 2600 | 2618 |
|  Oportun Funding Trust | Oportun Funding Trust | Oportun Funding Trust |
|  4.960% due 08/16/2032 | 967 | 967 |
|  Oxford Finance Funding LLC | Oxford Finance Funding LLC | Oxford Finance Funding LLC |
|  3.602% due 02/15/2030 | 6791 | 6628 |
|  OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. |
|  5.629% due 07/20/2032 •  | 9750 | 9769 |
|  Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
|  0.000% due 04/15/2032 «~ | 2230 | 880 |
|  5.065% due 03/15/2032 | 1479 | 1482 |
|  5.092% due 07/15/2032 | 1971 | 1978 |
|  5.108% due 03/15/2033 | 2600 | 2606 |
|  5.156% due 07/15/2032 | 2288 | 2292 |
|  5.183% due 06/15/2032 | 2525 | 2533 |
|  5.329% due 10/15/2032 | 18898 | 18913 |
|  5.331% due 01/15/2032 | 1242 | 1246 |
|  5.617% due 04/15/2032 « | 961 | 962 |
|  5.628% due 07/15/2032 | 16029 | 16062 |
|  5.637% due 07/15/2032 | 884 | 889 |
|  5.639% due 10/15/2032 | 6999 | 7014 |
|  5.750% due 06/15/2032 | 1951 | 1959 |
|  5.823% due 04/15/2032 « | 1429 | 1430 |
|  5.871% due 07/15/2032 | 934 | 937 |
|  6.261% due 04/15/2032 « | 1499 | 1499 |
|  6.278% due 10/15/2031 | 851 | 853 |
|  10.273% due 04/15/2032 « | 1849 | 1803 |
|  Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust | Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust | Pagaya AI Debt Grantor Trust & Pagaya AI Debt Trust |
|  6.093% due 11/15/2031 | 830 | 831 |
|  Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust |
|  6.117% due 12/15/2031 | 1059 | 1063 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **177** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
|  5.373% due 01/17/2033 | 5268 | 5292 |
|  6.258% due 10/15/2031 | 2012 | 2013 |
|  6.319% due 08/15/2031 | 859 | 859 |
|  Pagaya Point of Sale Holdings Grantor Trust | Pagaya Point of Sale Holdings Grantor Trust | Pagaya Point of Sale Holdings Grantor Trust |
|  5.715% due 01/20/2034 | 5500 | 5521 |
|  Pikes Peak CLO 2 | Pikes Peak CLO 2 | Pikes Peak CLO 2 |
|  4.888% due 10/11/2034 •  | 7900 | 7911 |
|  Pikes Peak CLO 4 | Pikes Peak CLO 4 | Pikes Peak CLO 4 |
|  4.882% due 07/15/2034 •  | 8300 | 8311 |
|  PK ALIFT Loan Funding 4 LP | PK ALIFT Loan Funding 4 LP | PK ALIFT Loan Funding 4 LP |
|  5.052% due 10/15/2039 | 5467 | 5485 |
|  Providus CLO II DAC | Providus CLO II DAC | Providus CLO II DAC |
|  3.176% due 10/15/2038 •  | 1750 | 2023 |
|  RCKT Trust | RCKT Trust | RCKT Trust |
|  4.900% due 07/25/2034 | 985 | 987 |
|  Reach ABS Trust | Reach ABS Trust | Reach ABS Trust |
|  4.930% due 08/18/2032 | 9195 | 9234 |
|  4.960% due 08/16/2032 | 2326 | 2330 |
|  5.340% due 08/16/2032 | 3400 | 3427 |
|  5.880% due 07/15/2031 | 466 | 467 |
|  5.990% due 08/16/2032 | 800 | 810 |
|  Regional Management Issuance Trust | Regional Management Issuance Trust | Regional Management Issuance Trust |
|  5.110% due 12/15/2033 | 5400 | 5422 |
|  5.830% due 07/15/2036 | 2500 | 2536 |
|  Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. | Rockford Tower CLO Ltd. |
|  4.798% due 07/20/2034 •  | 800 | 801 |
|  Romark Credit Funding II Ltd. | Romark Credit Funding II Ltd. | Romark Credit Funding II Ltd. |
|  2.625% due 10/25/2039 | 2500 | 2380 |
|  Romark Credit Funding III Ltd. | Romark Credit Funding III Ltd. | Romark Credit Funding III Ltd. |
|  5.539% due 09/15/2042 | 7400 | 7410 |
|  Silver Rock CLO II Ltd. | Silver Rock CLO II Ltd. | Silver Rock CLO II Ltd. |
|  4.708% due 01/20/2035 •  | 15300 | 15305 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  0.000% due 03/15/2055 «(f) | 3 | 40 |
|  0.010% due 11/16/2054 | 3 | 15 |
|  1.290% due 07/15/2053 | 1876 | 1793 |
|  2.310% due 01/15/2053 | 1965 | 1921 |
|  4.000% due 09/15/2042 | 8259 | 8211 |
|  4.500% due 10/15/2048 | 2751 | 2744 |
|  4.517% due 01/15/2053 •  | 487 | 483 |
|  4.550% due 02/16/2055 | 19354 | 18871 |
|  4.772% due 06/17/2052 •  | 2260 | 2260 |
|  4.772% due 07/15/2053 •  | 15644 | 15636 |
|  4.780% due 03/15/2055 | 2300 | 2277 |
|  4.849% due 11/16/2054 « | 6992 | 6992 |
|  4.872% due 03/15/2055 •  | 5029 | 5038 |
|  4.950% due 02/16/2055 | 9658 | 9452 |
|  4.960% due 03/15/2055 | 45541 | 45901 |
|  5.020% due 03/17/2053 | 18311 | 18338 |
|  5.022% due 10/16/2056 •  | 2635 | 2660 |
|  5.060% due 03/16/2054 | 8593 | 8657 |
|  5.090% due 10/16/2056 | 1938 | 1954 |
|  5.100% due 03/15/2055 | 2300 | 2317 |
|  5.122% due 03/15/2056 •  | 6678 | 6744 |
|  5.190% due 11/16/2054 « | 51276 | 50966 |
|  5.240% due 03/15/2056 | 2775 | 2802 |
|  5.260% due 03/15/2055 | 4600 | 4450 |
|  5.380% due 07/15/2053 | 22997 | 23354 |
|  5.472% due 10/16/2056 •  | 1317 | 1345 |
|  5.500% due 06/17/2052 | 11227 | 11458 |
|  5.522% due 05/16/2050 •  | 1608 | 1635 |
|  5.710% due 11/16/2054 « | 3083 | 3059 |
|  6.140% due 11/16/2054 « | 617 | 611 |
|  6.930% due 11/16/2054 « | 4933 | 4892 |
|  SoFi Consumer Loan Program LLC | SoFi Consumer Loan Program LLC | SoFi Consumer Loan Program LLC |
|  0.010% due 10/25/2034 « | 5091 | 6727 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.190% due 10/25/2034 | $— | 24634 | $— | 24592 |
|  4.530% due 10/25/2034 |  | 3787 |  | 3769 |
|  4.900% due 10/25/2034 |  | 2942 |  | 2936 |
|  5.200% due 10/25/2034 |  | 2170 |  | 2165 |
|  SoFi Consumer Loan Program Trust | SoFi Consumer Loan Program Trust | SoFi Consumer Loan Program Trust | SoFi Consumer Loan Program Trust | SoFi Consumer Loan Program Trust |
|  0.000% due 03/27/2034 «(f) |  | 4633 |  | 4568 |
|  4.800% due 02/27/2034 |  | 2889 |  | 2896 |
|  4.910% due 03/27/2034 |  | 15894 |  | 15951 |
|  5.250% due 03/27/2034 |  | 3796 |  | 3828 |
|  5.770% due 03/27/2034 |  | 2944 |  | 2993 |
|  6.260% due 03/27/2034 |  | 2177 |  | 2223 |
|  SoFi Professional Loan Program LLC | SoFi Professional Loan Program LLC | SoFi Professional Loan Program LLC | SoFi Professional Loan Program LLC | SoFi Professional Loan Program LLC |
|  1.030% due 08/17/2043 |  | 6584 |  | 5864 |
|  Sound Point CLO XXVII Ltd. | Sound Point CLO XXVII Ltd. | Sound Point CLO XXVII Ltd. | Sound Point CLO XXVII Ltd. | Sound Point CLO XXVII Ltd. |
|  5.110% due 10/25/2034 •  |  | 10400 |  | 10414 |
|  Start II Ltd. | Start II Ltd. | Start II Ltd. | Start II Ltd. | Start II Ltd. |
|  4.089% due 03/15/2044 |  | 1801 |  | 1802 |
|  Store Master Funding I-VII | Store Master Funding I-VII | Store Master Funding I-VII | Store Master Funding I-VII | Store Master Funding I-VII |
|  4.290% due 10/20/2048 |  | 3980 |  | 3940 |
|  Stream Innovations Issuer Trust | Stream Innovations Issuer Trust | Stream Innovations Issuer Trust | Stream Innovations Issuer Trust | Stream Innovations Issuer Trust |
|  6.270% due 07/15/2044 |  | 2246 |  | 2314 |
|  Sunbit Asset Securitization Trust | Sunbit Asset Securitization Trust | Sunbit Asset Securitization Trust | Sunbit Asset Securitization Trust | Sunbit Asset Securitization Trust |
|  5.360% due 07/15/2030 |  | 8400 |  | 8413 |
|  Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. | Symphony CLO XXII Ltd. |
|  4.848% due 04/18/2033 •  |  | 6013 |  | 6018 |
|  T-Mobile U.S. Trust | T-Mobile U.S. Trust | T-Mobile U.S. Trust | T-Mobile U.S. Trust | T-Mobile U.S. Trust |
|  4.250% due 05/21/2029 |  | 7700 |  | 7715 |
|  Taberna Preferred Funding II Ltd. | Taberna Preferred Funding II Ltd. | Taberna Preferred Funding II Ltd. | Taberna Preferred Funding II Ltd. | Taberna Preferred Funding II Ltd. |
|  4.355% due 11/05/2035 •  |  | 1125 |  | 1086 |
|  Taberna Preferred Funding VI Ltd. | Taberna Preferred Funding VI Ltd. | Taberna Preferred Funding VI Ltd. | Taberna Preferred Funding VI Ltd. | Taberna Preferred Funding VI Ltd. |
|  4.285% due 12/05/2036 •  |  | 18786 |  | 17471 |
|  TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. | TCI-Symphony CLO Ltd. |
|  5.463% due 10/13/2032 •  |  | 18530 |  | 18566 |
|  Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust |
|  5.080% due 06/21/2050 |  | 2239 |  | 2240 |
|  5.290% due 06/20/2050 |  | 2100 |  | 2094 |
|  THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. |
|  4.872% due 04/15/2035 •  |  | 4100 |  | 4105 |
|  Thunderbolt II Aircraft Lease Ltd. | Thunderbolt II Aircraft Lease Ltd. | Thunderbolt II Aircraft Lease Ltd. | Thunderbolt II Aircraft Lease Ltd. | Thunderbolt II Aircraft Lease Ltd. |
|  5.960% due 09/15/2038 þ |  | 1650 |  | 1651 |
|  Trinitas CLO VII Ltd. | Trinitas CLO VII Ltd. | Trinitas CLO VII Ltd. | Trinitas CLO VII Ltd. | Trinitas CLO VII Ltd. |
|  4.728% due 01/25/2035 •  |  | 16000 |  | 16005 |
|  Tropic CDO V Ltd. | Tropic CDO V Ltd. | Tropic CDO V Ltd. | Tropic CDO V Ltd. | Tropic CDO V Ltd. |
|  4.254% due 07/15/2036 •  |  | 8599 |  | 8341 |
|  Trysail CLO Ltd. | Trysail CLO Ltd. | Trysail CLO Ltd. | Trysail CLO Ltd. | Trysail CLO Ltd. |
|  4.907% due 10/20/2033 •  |  | 5500 |  | 5508 |
|  U.S. Capital Funding V Ltd. | U.S. Capital Funding V Ltd. | U.S. Capital Funding V Ltd. | U.S. Capital Funding V Ltd. | U.S. Capital Funding V Ltd. |
|  4.191% due 10/10/2040 •  |  | 507 |  | 488 |
|  Upstart Pass-Through Trust | Upstart Pass-Through Trust | Upstart Pass-Through Trust | Upstart Pass-Through Trust | Upstart Pass-Through Trust |
|  4.300% due 05/20/2030 |  | 259 |  | 259 |
|  7.900% due 10/20/2028 |  | 547 |  | 551 |
|  Upstart Personal Consumer Trust | Upstart Personal Consumer Trust | Upstart Personal Consumer Trust | Upstart Personal Consumer Trust | Upstart Personal Consumer Trust |
|  12.410% due 02/20/2032 « |  | 119024 |  | 118721 |
|  Upstart Securitization Trust | Upstart Securitization Trust | Upstart Securitization Trust | Upstart Securitization Trust | Upstart Securitization Trust |
|  4.600% due 09/20/2035 |  | 5819 |  | 5820 |
|  5.020% due 09/20/2035 |  | 1200 |  | 1201 |
|  6.330% due 04/20/2035 |  | 800 |  | 813 |
|  Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust |
|  4.250% due 06/17/2030 |  | 303 |  | 303 |
|  UPX HIL Issuer Trust | UPX HIL Issuer Trust | UPX HIL Issuer Trust | UPX HIL Issuer Trust | UPX HIL Issuer Trust |
|  5.160% due 01/25/2047 |  | 1872 |  | 1866 |
|  VB-S1 Issuer LLC | VB-S1 Issuer LLC | VB-S1 Issuer LLC | VB-S1 Issuer LLC | VB-S1 Issuer LLC |
|  4.693% due 03/15/2056 |  | 41500 |  | 40828 |
|  Venture 33 CLO Ltd. | Venture 33 CLO Ltd. | Venture 33 CLO Ltd. | Venture 33 CLO Ltd. | Venture 33 CLO Ltd. |
|  4.994% due 07/15/2031 •  |  | 602 |  | 602 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Venture 44 CLO Ltd. | Venture 44 CLO Ltd. | Venture 44 CLO Ltd. |
|  4.808% due 10/20/2034 •  | 5575 | 5581 |
|  Voya Ltd. | Voya Ltd. | Voya Ltd. |
|  5.384% due 10/15/2030 •  | 3838 | 3845 |
|  WATR I Issuer Trust | WATR I Issuer Trust | WATR I Issuer Trust |
|  0.010% due 06/17/2050 « | 3516 | 6077 |
|  0.010% due 09/16/2050 « | 4080 | 7215 |
|  0.010% due 02/17/2051 « | 6919 | 6919 |
|  4.790% due 09/16/2050 « | 23236 | 22982 |
|  4.940% due 02/17/2051 « | 23622 | 23622 |
|  5.040% due 09/16/2050 « | 7399 | 7322 |
|  5.230% due 02/17/2051 « | 7855 | 7855 |
|  5.240% due 09/16/2050 « | 4900 | 4848 |
|  5.250% due 06/17/2050 « | 20575 | 20584 |
|  5.480% due 02/17/2051 « | 4457 | 4457 |
|  5.560% due 06/17/2050 « | 5300 | 5318 |
|  5.810% due 06/17/2050 « | 3300 | 3316 |
|  6.160% due 09/16/2050 « | 5100 | 5044 |
|  6.210% due 02/17/2051 « | 7143 | 7143 |
|  6.770% due 06/17/2050 « | 5800 | 5832 |
|  Wellfleet CLO Ltd. | Wellfleet CLO Ltd. | Wellfleet CLO Ltd. |
|  4.822% due 07/15/2034 •  | 5000 | 5005 |
|  Wind River CLO Ltd. | Wind River CLO Ltd. | Wind River CLO Ltd. |
|  4.732% due 10/15/2034 •  | 17008 | 17018 |
|  |  | 2058697 |
|  Total Asset-Backed Securities (Cost $3,824,495) | Total Asset-Backed Securities (Cost $3,824,495) | 3716961 |
| SHORT-TERM INSTRUMENTS 0.8% | SHORT-TERM INSTRUMENTS 0.8% | SHORT-TERM INSTRUMENTS 0.8% |
| U.S. TREASURY BILLS 0.8% | U.S. TREASURY BILLS 0.8% | U.S. TREASURY BILLS 0.8% |
|  3.680% due 04/07/2026 -<br>07/21/2026 (e)(f)(i)(k) | 106666 | 105748 |
| Total Short-Term Instruments<br> (Cost $105,746) | Total Short-Term Instruments<br> (Cost $105,746) | 105748 |
| Total Investments in Securities (Cost $28,279,558) | Total Investments in Securities (Cost $28,279,558) | 27727393 |
|  | **SHARES** |  |
| INVESTMENTS IN AFFILIATES 2.6% | INVESTMENTS IN AFFILIATES 2.6% | INVESTMENTS IN AFFILIATES 2.6% |
| SHORT-TERM INSTRUMENTS 2.6% | SHORT-TERM INSTRUMENTS 2.6% | SHORT-TERM INSTRUMENTS 2.6% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 2.6% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 2.6% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 2.6% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 36045701 | 351049 |
| Total Short-Term Instruments<br> (Cost $351,007) | Total Short-Term Instruments<br> (Cost $351,007) | 351049 |
| Total Investments in Affiliates<br> (Cost $351,007) | Total Investments in Affiliates<br> (Cost $351,007) | 351049 |
| Total Investments 206.4%<br> (Cost $28,630,565) | Total Investments 206.4%<br> (Cost $28,630,565) | 28078442 |
|  Financial Derivative Instruments (h)(j) 1.9%<br> (Cost or Premiums, net $495,689) | Financial Derivative Instruments (h)(j) 1.9%<br> (Cost or Premiums, net $495,689) | 257205 |
| Other Assets and Liabilities, net (108.3)% | Other Assets and Liabilities, net (108.3)% | (14730198) |
| Net Assets 100.0% | Net Assets 100.0% | 13605449 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

^ Security is in default.

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | | |
|:---|:---|:---|
| **178** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) Principal only security.

(c) When-issued security.

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

(e) Coupon represents a weighted average yield to maturity.

(f) Zero coupon security.

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOS | 3.790% | 03/12/2026 | 04/13/2026 | $(43516) | $(43607) |
|  CIB | 3.790 | 03/12/2026 | 04/13/2026 | (27759) | (27818) |
|  DEU | 3.780 | 03/12/2026 | 04/13/2026 | (37892) | (37972) |
|  | 3.780 | 03/19/2026 | 04/21/2026 | (662074) | (662978) |
|  GSC | 3.790 | 03/12/2026 | 04/13/2026 | (665974) | (667376) |
|  | 3.790 | 03/19/2026 | 04/13/2026 | (25632) | (25667) |
|  IND | 3.790 | 03/12/2026 | 04/13/2026 | (308852) | (309503) |
|  | 3.790 | 03/19/2026 | 04/13/2026 | (197907) | (198177) |
|  | 3.790 | 03/30/2026 | 04/13/2026 | (109241) | (109263) |
|  SAL | 3.780 | 03/12/2026 | 04/13/2026 | (35303) | (35377) |
|  SBI | 3.780 | 03/12/2026 | 04/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1896457) | (1900440) |
|  WFS | 3.780 | 03/12/2026 | 04/13/2026 | (1012450) | (1014576) |
|  | 3.790 | 03/20/2026 | 04/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14234) | (14252) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5047006) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Borrowing<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> |
|  UBS | 3.760% | 02/12/2026 | 04/13/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3836) | $(3856) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3856) |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (29.0)% | U.S. Government Agencies (29.0)% | U.S. Government Agencies (29.0)% | U.S. Government Agencies (29.0)% | U.S. Government Agencies (29.0)% | U.S. Government Agencies (29.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA | 3.000% | 04/01/2056 | 17000 | $(15123) | $(15179) |
| &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA | 3.000 | 05/01/2056 | 70000 | (62202) | (62449) |
| &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, TBA | 3.500 | 04/01/2056 | 113000 | (104675) | (103663) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 1.500 | 04/01/2041 | 9500 | (8610) | (8543) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 1.500 | 04/01/2056 | 7800 | (6081) | (6021) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 04/01/2041 | 107900 | (99980) | (99282) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 04/01/2056 | 9898 | (8143) | (7975) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.000 | 05/01/2056 | 60152 | (48187) | (48439) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 2.500 | 05/01/2056 | 476235 | (398847) | (400279) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000 | 06/01/2040 | 885605 | (775043) | (776682) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000 | 04/01/2041 | 26025 | (25139) | (24859) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000 | 04/01/2056 | 16000 | (14171) | (14056) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.500 | 06/01/2056 | 199210 | (181592) | (182231) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.000 | 04/01/2056 | 197000 | (185534) | (185920) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.500 | 04/01/2056 | 250850 | (246473) | (242131) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.500 | 05/01/2056 | 260850 | (253351) | (251508) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 4.500 | 06/01/2056 | 161850 | (155629) | (155959) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.500 | 05/01/2041 | 257100 | (261428) | (261915) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.500 | 04/01/2056 | 351882 | (354824) | (353558) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.500 | 05/01/2056 | 645750 | (650935) | (647892) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 6.000 | 05/13/2056 | 99000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100309) | (100801) |
|  Total Short Sales (29.0)% | Total Short Sales (29.0)% | Total Short Sales (29.0)% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3956276) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3949342) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 179

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(3)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOS | $0 | $(43607) | $0 | $(43607) | $45145 | $1538 |
|  CIB | 0 | (27818) | 0 | (27818) | 28655 | 837 |
|  DEU | 0 | (700950) | 0 | (700950) | 721731 | 20781 |
|  GSC | 0 | (693043) | 0 | (693043) | 721184 | 28141 |
|  IND | 0 | (616943) | 0 | (616943) | 635232 | 18289 |
|  SAL | 0 | (35377) | 0 | (35377) | 36699 | 1322 |
|  SBI | 0 | (1900440) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1900440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56279 |
|  WFS | 0 | (1028828) | 0 | (1028828) | 1068469 | 39641 |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  UBS | 0 | 0 | (3856) | (3856) | 3826 | (30) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5047006) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3856) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  U.S. Government Agencies | $0 | $(5047006) | $0 | $0 | $(5047006) |
|  Total | $0 | $(5047006) | $0 | $0 | $(5047006) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (3856) | 0 | 0 | (3856) |
|  Total | $0 | $(3856) | $0 | $0 | $(3856) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5050862) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(5050862) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5050862) |

---

(g) Securities with an aggregate market value of $5,216,960 and cash of $700 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(4501415) at a weighted average interest rate of 4.190%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(2)</sup> Payable for sale-buyback transactions includes $(5) of deferred price drop. 

<sup>(3)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

&nbsp;&nbsp;&nbsp;&nbsp;(h) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract December Futures  | 03/2027 | 13878 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3343384 | $(14133) | $1214 | $0 |
|  3-Month SOFR Active Contract June Futures  | 09/2026 | 2312 | 556816 | (1977) | 87 | 0 |
|  30-Day Federal Fund May Futures  | 05/2026 | 2398 | 962824 | (3843) | 0 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 1823 | 197212 | (2868) | 256 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 3819 | 424088 | (7587) | 895 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 2242 | 254502 | (5586) | 666 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35994) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

180 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Variation Margin** | **Variation Margin** |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Asset** | **Liability** |
|  3-Month SOFR Active Contract March Futures  | 06/2026 | 11696 | $(2816543) | $12271 | $0 | $(146) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 101 | (11773) | 395 | 0 | 0 |
|  |  |  |  | $12666 | $0 | $(146) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23328) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146) |

---

#### SWAP AGREEMENTS:

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500% | Annual | 06/21/2026 | $126500 | $(93) | $737 | $644 | $0 | $(2) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2026 | 351700 | (71) | (215) | (286) | 23 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 2.500 | Semi-Annual | 12/20/2027 | 7400 | 22 | (157) | (135) | 3 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2028 | 511300 | 2856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.638 | Annual | 05/31/2028 | 2800 | 0 | 9 | 9 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 05/31/2028 | 5500 | 0 | 16 | 16 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 05/31/2028 | 1900 | 0 | (3) | (3) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2028 | 700 | (2) | 2 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.858 | Annual | 03/08/2029 | 41300 | 155 | (480) | (325) | 0 | (30) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2029 | 23800 | 167 | (221) | (54) | 18 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 03/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187800 | (6091) | 2512 | (3579) | 0 | (151) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.080 | Annual | 04/23/2029 | 183400 | 3998 | 487 | 4485 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 2.790 | Annual | 05/07/2029 | 164400 | 3576 | 2211 | 5787 | 0 | (120) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.545 | Annual | 10/31/2030 | 1500 | 0 | 5 | 5 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.547 | Annual | 10/31/2030 | 3700 | 0 | 13 | 13 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 10/31/2030 | 3200 | 0 | 11 | 11 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.572 | Annual | 10/31/2030 | 3200 | 0 | 8 | 8 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.582 | Annual | 10/31/2030 | 5600 | 0 | 11 | 11 | 0 | (6) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 10/31/2030 | 3900 | 0 | 5 | 5 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.601 | Annual | 10/31/2030 | 7100 | 0 | 7 | 7 | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.602 | Annual | 10/31/2030 | 7100 | 0 | 7 | 7 | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.606 | Annual | 10/31/2030 | 3200 | 0 | 2 | 2 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.623 | Annual | 10/31/2030 | 3200 | 0 | 0 | 0 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.664 | Annual | 10/31/2030 | 2100 | 0 | (4) | (4) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.677 | Annual | 10/31/2030 | 1600 | 0 | (4) | (4) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.687 | Annual | 10/31/2030 | 2600 | 0 | (8) | (8) | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.689 | Annual | 10/31/2030 | 4500 | 0 | (14) | (14) | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 3400 | 0 | (11) | (11) | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.721 | Annual | 10/31/2030 | 2100 | 0 | (10) | (10) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 | 2100 | 0 | (10) | (10) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 2100 | 0 | (10) | (10) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 1400 | 0 | (7) | (7) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.735 | Annual | 10/31/2030 | 2100 | 0 | (11) | (11) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 2200 | 0 | (12) | (12) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.749 | Annual | 10/31/2030 | 2100 | 0 | (12) | (12) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.710 | Annual | 03/12/2031 | 71700 | 1506 | (1803) | (297) | 0 | (76) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2031 | 3575400 | 14205 | (34333) | (20128) | 3871 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.013 | Annual | 04/09/2031 | 142000 | 3053 | 2515 | 5568 | 0 | (145) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.170 | Annual | 04/15/2031 | 143500 | 3003 | 1347 | 4350 | 0 | (148) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 04/26/2031 | 112100 | 2479 | 505 | 2984 | 0 | (117) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.170 | Annual | 05/01/2031 | 27100 | 573 | 240 | 813 | 0 | (28) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 679300 | (2657) | 779 | (1878) | 0 | (769) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.480 | Annual | 02/07/2032 | 179200 | 2079 | (297) | 1782 | 0 | (204) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 1496600 | 140696 | 47888 | 188584 | 0 | (1610) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.410 | Annual | 10/16/2032 | 110000 | (587) | 2660 | 2073 | 0 | (127) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.476 | Annual | 10/21/2032 | 115600 | 0 | 1692 | 1692 | 0 | (134) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2032 | 391400 | (8578) | 7722 | (856) | 0 | (491) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2032 | 258700 | 22630 | 4962 | 27592 | 0 | (285) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 03/18/2033 | 1250700 | 16165 | (14370) | 1795 | 1572 | 0 |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | 113100 | 850 | 808 | 1658 | 0 | (138) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 02/07/2034 | 267500 | 1792 | 3088 | 4880 | 0 | (273) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 02/09/2034 | 264500 | 1891 | 2943 | 4834 | 0 | (269) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 02/13/2034 | 91900 | 666 | 1017 | 1683 | 0 | (93) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 02/14/2034 | 46100 | 410 | 433 | 843 | 0 | (47) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 02/22/2034 | 211000 | 1834 | 2043 | 3877 | 0 | (214) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/01/2034 | 122500 | 992 | 1265 | 2257 | 0 | (124) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **181** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500% | Annual | 03/06/2034 |  | $122500 | $894 | $1369 | $2263 | $0 | $(124) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.330 | Annual | 09/30/2034 |  | 99250 | (55) | 3695 | 3640 | 0 | (93) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 |  | 909400 | (10779) | 15073 | 4294 | 0 | (1012) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 03/19/2035 |  | 121100 | 7947 | (2625) | 5322 | 0 | (123) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2035 |  | 281300 | 9682 | 5060 | 14742 | 0 | (271) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 |  | 104260 | (870) | (60) | (930) | 101 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 |  | 341400 | (5850) | 8649 | 2799 | 0 | (294) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.660 | Annual | 09/30/2035 |  | 190000 | 3624 | (627) | 2997 | 0 | (161) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2035 |  | 286600 | (5607) | 8205 | 2598 | 0 | (267) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 |  | 84700 | (2579) | 1686 | (893) | 0 | (78) |
|  Receive<sup>(1)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333600 | 5056 | (1208) | 3848 | 0 | (277) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2055 |  | 35250 | 702 | 1693 | 2395 | 131 | 0 |
|  Receive | 6-Month EUR-EURIBOR | 0.150 | Annual | 03/18/2030 |  | 4900 | 90 | 547 | 637 | 0 | (17) |
|  Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 |  | 19000 | 322 | 369 | 691 | 0 | (168) |
|  Receive | 6-Month EUR-EURIBOR | 0.250 | Annual | 03/18/2050 |  | 2000 | 111 | 1033 | 1144 | 0 | (12) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210207 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74716 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284923 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5984 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8701) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | | Market Value | Variation Margin<br>Liability<sup>(2)</sup> | Variation Margin<br>Liability<sup>(2)</sup> | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5984 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9102 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8701) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8869) |

---

(i) Securities with an aggregate market value of $21,165 and cash of $144,977 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

<sup>(2)</sup> Unsettled variation margin liability of $(22) for closed futures is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(j) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Asset | Liability |
|  AZD | 04/2026 | 38324 | $27978 | $427 | $0 |
|  BOA | 04/2026 | 1490 | 1713 | 0 | (10) |
|  | 04/2026 | $1193 | 1631 | 0 | (20) |
|  | 05/2026 | 1715 | 1490 | 10 | 0 |
|  BRC | 04/2026 | 45 | $33 | 0 | 0 |
|  | 04/2026 | 91269 | 123439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | 0 |
|  | 05/2026 | $33 | 45 | 0 | 0 |
|  BSH | 04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120448 | 90481 | 0 | (687) |
|  | 05/2026 | 90481 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120443 | 688 | 0 |
|  CBK | 04/2026 | $1056 | 788 | 0 | (13) |
|  IND | 04/2026 | 41915 | $49492 | 1045 | 0 |
|  MBC | 04/2026 | $1716 | 1490 | 6 | 0 |
|  SCX | 04/2026 | 26535 | 36738 | 0 | (125) |
|  | 05/2026 | 36687 | $26535 | 124 | 0 |
|  SOG | 04/2026 | $48369 | 41915 | 78 | 0 |
|  | 05/2026 | 41915 | $48445 | 0 | (76) |
|  SSB | 05/2026 | $1123 | 850 | 2 | 0 |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(931) |

---

182 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### PURCHASED OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| BOA Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750% | 04/09/2026 | 58300 | $33 | $0 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.132 | 04/14/2026 | 92400 | 770 | 8 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.500 | 04/17/2026 | 1183100 | 916 | 45 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 05/15/2026 | 1146100 | 791 | 147 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500 | 06/16/2026 | 305000 | 907 | 76 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.600 | 06/17/2026 | 266900 | 881 | 93 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.480 | 07/14/2026 | 296300 | 2406 | 1865 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.095 | 04/06/2026 | 109500 | 328 | 18 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 06/11/2026 | 475200 | 221 | 277 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 06/30/2026 | 124300 | 249 | 112 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 09/04/2026 | 345600 | 268 | 824 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.098 | 02/06/2035 | 35100 | 3117 | 2304 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.098 | 02/06/2035 | 35100 | 3117 | 3340 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.260 | 02/13/2035 | 57700 | 5040 | 4022 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.260 | 02/13/2035 | 57700 | 5040 | 5191 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.245 | 02/20/2035 | 57700 | 4974 | 3981 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.245 | 02/20/2035 | 57700 | 4974 | 5201 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.265 | 05/01/2035 | 32400 | 2869 | 2292 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.265 | 05/01/2035 | 32400 | 2869 | 2943 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.470 | 06/04/2035 | 32600 | 2923 | 2519 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.470 | 06/04/2035 | 32600 | 2923 | 2799 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.400 | 06/25/2035 | 129000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11520 | 9702 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.400 | 06/25/2035 | 64500 | 5827 | 5683 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.640 | 07/23/2035 | 128800 | 11581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10683 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.640 | 07/23/2035 | 64400 | 5791 | 5290 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.427 | 08/06/2035 | 62200 | 5474 | 4722 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.427 | 08/06/2035 | 62200 | 5474 | 5414 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.656 | 08/20/2035 | 68700 | 5946 | 5677 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.656 | 08/20/2035 | 68700 | 5946 | 5566 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 43200 | 3722 | 3618 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 43200 | 3722 | 3460 |
| BPS Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.947 | 04/06/2026 | 200600 | 293 | 280 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.123 | 06/04/2026 | 19500 | 112 | 98 |
| BRC Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 5.000 | 04/06/2026 | 162400 | 491 | 0 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.224 | 05/18/2026 | 104000 | 426 | 129 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.900 | 05/29/2026 | 32500 | 227 | 168 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.055 | 04/07/2026 | 77900 | 199 | 36 |
| CBK Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.400 | 05/19/2027 | 236100 | 1334 | 1528 |
| DUB Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 04/09/2026 | 1135900 | 757 | 0 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.135 | 09/14/2026 | 97400 | 1252 | 396 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.635 | 09/14/2026 | 97400 | 1252 | 1838 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.308 | 05/02/2035 | 24900 | 2215 | 1794 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.308 | 05/02/2035 | 24900 | 2215 | 2235 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.630 | 05/22/2035 | 35800 | 3274 | 2961 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.630 | 05/22/2035 | 35800 | 3274 | 2945 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.520 | 05/29/2035 | 35700 | 3211 | 2815 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.520 | 05/29/2035 | 35700 | 3211 | 3021 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.440 | 06/18/2035 | 50900 | 4553 | 3889 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.440 | 06/18/2035 | 50900 | 4553 | 4414 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.559 | 07/09/2035 | 119800 | 10638 | 9579 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.559 | 07/09/2035 | 59900 | 5319 | 5012 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.460 | 08/06/2035 | 90600 | 7964 | 6964 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.460 | 08/06/2035 | 90600 | 7964 | 7806 |
| FAR Call - OTC 5-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.324 | 07/06/2026 | 181400 | 1296 | 781 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 5.000 | 04/03/2026 | 150100 | 492 | 0 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500 | 05/29/2026 | 192500 | 760 | 27 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500 | 07/26/2027 | 764700 | 1682 | 2906 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.073 | 03/07/2035 | 51300 | 4463 | 3319 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.073 | 03/07/2035 | 51300 | 4463 | 4906 |
| GLM Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.104 | 10/18/2027 | 24500 | 38 | 59 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.075 | 04/06/2026 | 4800 | 12 | 1 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.310 | 04/24/2035 | 34800 | 3080 | 2504 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.310 | 04/24/2035 | 34800 | 3080 | 3114 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.430 | 05/16/2035 | 34900 | 3127 | 2650 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.430 | 05/16/2035 | 34900 | 3127 | 3028 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **183** |

---

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Floating Rate Index** | **Pay/Receive<br>Floating Rate** | **Exercise<br>Rate** | **Expiration<br>Date** | **Notional<br>Amount<sup>(1)</sup>** | **Cost** | **Market<br>Value** |
| JPM Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.750% | 05/05/2026 | 136400 | $68 | $15 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500 | 06/17/2026 | 563000 | 1686 | 146 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.219 | 06/04/2026 | 82500 | 404 | 288 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.285 | 05/07/2035 | 35400 | 3183 | 2540 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.285 | 05/07/2035 | 35400 | 3183 | 3211 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.458 | 08/01/2035 | 121400 | 10586 | 9295 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.458 | 08/01/2035 | 121400 | 10586 | 10436 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.693 | 08/27/2035 | 53400 | 4600 | 4472 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.693 | 08/27/2035 | 53400 | 4600 | 4277 |
| MYC Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.150 | 06/08/2026 | 173000 | 885 | 266 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.313 | 06/08/2026 | 173000 | 3553 | 454 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.313 | 06/08/2026 | 173000 | 3553 | 236 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.750 | 12/07/2026 | 166300 | 445 | 782 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.485 | 08/07/2035 | 57000 | 5022 | 4428 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.485 | 08/07/2035 | 57000 | 5022 | 4878 |
| NGF Put - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.242 | 10/29/2027 | 764700 | 1147 | 1684 |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 2.500 | 07/28/2027 | 900500 | 1792 | 3446 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.400 | 06/25/2035 | 148400 | 13252 | 11161 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.400 | 06/25/2035 | 74200 | 6704 | 6537 |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.520 | 08/13/2035 | 119400 | 10507 | 9404 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 4.520 | 08/13/2035 | 119400 | 10507 | 10115 |
|  |  |  |  |  |  | $302258 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267146 |

---

#### INTEREST RATE-CAPPED OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Exercise<br>Rate | Floating Rate Index | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| DUB Put - OTC 2-Year Interest Rate Floor  | 0.033% | 1-Day USD-SOFR Compounded-OIS | 01/26/2027 | 2092000 | $25104 | $1388 |
| NGF Put - OTC 2-Year Interest Rate Floor  | 0.033 | 1-Day USD-SOFR Compounded-OIS | 10/01/2027 | 880000 | 21120 | 2474 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46224 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96.590 | 05/06/2026 | 313000 | $391 | $2625 |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | 99.098 | 05/06/2026 | 469000 | 147 | 407 |
| JPM | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.469 | 06/04/2026 | 60500 | 265 | 392 |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.469 | 06/04/2026 | 60500 | 246 | 131 |
| SAL | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 05/01/2056 | 99.094 | 05/06/2026 | 78000 | 24 | 67 |
|  |  |  |  |  | $1073 | $3622 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349555 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274630 |

---

#### WRITTEN OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.260% | 04/09/2026 | 4700 | $(33) | $0 |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.632 | 04/14/2026 | 96300 | (770) | (797) |
| Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.110 | 04/17/2026 | 114500 | (916) | (16) |
| Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.780 | 07/14/2026 | 316500 | (2405) | (3470) |
| BPS Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.967 | 05/06/2026 | 156500 | (223) | (927) |
| BRC Put - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.724 | 05/18/2026 | 142100 | (426) | (1228) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.088 | 05/06/2026 | 36800 | (48) | (119) |
| DUB Call - OTC 7-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.260 | 04/09/2026 | 91600 | (757) | (7) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.084 | 05/06/2026 | 117100 | (120) | (387) |
| FAR Put - OTC 5-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.624 | 07/06/2026 | 190500 | (1295) | (1775) |
| MYC Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.450 | 06/05/2026 | 89100 | (446) | (223) |
|  |  |  |  |  |  | $(7439) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8949) |

---

184 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### INTEREST RATE-CAPPED OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Exercise<br>Rate | Floating Rate Index | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| DUB Put - OTC 2-Year Interest Rate Floor  | 0.021% | 1-Day USD-SOFR Compounded-OIS | 01/26/2027 | 2092000 | $(9498) | $(376) |
| Put - OTC 2-Year Interest Rate Floor  | 0.027 | 1-Day USD-SOFR Compounded-OIS | 01/26/2027 | 2092000 | (15481) | (686) |
| NGF Put - OTC 2-Year Interest Rate Floor  | 0.019 | 1-Day USD-SOFR Compounded-OIS | 10/01/2027 | 880000 | (7040) | (683) |
| Put - OTC 2-Year Interest Rate Floor  | 0.026 | 1-Day USD-SOFR Compounded-OIS | 10/01/2027 | 880000 | (14080) | (1271) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46099) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3016) |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102.258 | 05/06/2026 | 217000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(322) | $(63) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 05/06/2026 | 128000 | (230) | (27) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 05/01/2056 | 102.313 | 05/06/2026 | 128000 | (240) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(695) |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.094 | 04/06/2026 | 81500 | (337) | (194) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.273 | 04/06/2026 | 47000 | (125) | (148) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.641 | 04/06/2026 | 92000 | (165) | (153) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 94.375 | 06/04/2026 | 35500 | (233) | (134) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 95.207 | 06/04/2026 | 220500 | (1034) | (1257) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 97.375 | 06/04/2026 | 35500 | (205) | (171) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 98.207 | 06/04/2026 | 220500 | (904) | (583) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 99.891 | 04/06/2026 | 46000 | (76) | (1) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.031 | 06/04/2026 | 46000 | (75) | (56) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.375 | 06/04/2026 | 169000 | (489) | (313) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 102.172 | 06/04/2026 | 186500 | (342) | (1013) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 04/01/2056 | 103.531 | 04/06/2026 | 53500 | (71) | (54) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 05/01/2056 | 103.688 | 05/06/2026 | 215500 | (219) | (11) |
| MSC | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.234 | 04/06/2026 | 47000 | (125) | (157) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.625 | 04/06/2026 | 92000 | (162) | (158) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 97.281 | 06/04/2026 | 109500 | (308) | (375) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.000 | 06/04/2026 | 92500 | (152) | (118) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 100.281 | 06/04/2026 | 109500 | (240) | (97) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.234 | 04/06/2026 | 225500 | (379) | (729) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.328 | 04/06/2026 | 215000 | (386) | (891) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.500% due 04/01/2056 | 103.578 | 04/06/2026 | 390000 | (411) | (558) |
| SAL | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.313 | 04/06/2026 | 32000 | (85) | (95) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.000% due 04/01/2056 | 94.813 | 04/06/2026 | 86000 | (215) | (104) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 04/01/2056 | 96.859 | 04/06/2026 | 122000 | (343) | (3) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.000% due 06/01/2056 | 96.102 | 06/04/2026 | 82500 | (403) | (138) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 5.500% due 04/01/2056 | 101.113 | 04/06/2026 | 29500 | (92) | (201) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 04/01/2056 | 102.234 | 04/06/2026 | 51000 | (86) | (165) |
|  | Put - OTC Uniform Mortgage-Backed Security, TBA 6.000% due 06/01/2056 | 101.977 | 06/04/2026 | 144000 | (281) | (598) |
|  |  |  |  |  | $(8735) | $(9260) |
|  Total Written Options | Total Written Options | Total Written Options |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62273) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21225) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(4)</sup> | Swap Agreements,<br>at Value<sup>(4)</sup> |
| Counterparty | Index/Tranches | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BOA | ABX.HE.AA.6-1 Index « | 0.320% | Monthly | 07/25/2045 | $1271 | $(438) | $331 | $0 | $(107) |
|  | ABX.HE.AAA.6-2 Index « | 0.110 | Monthly | 05/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024 | (833) | 591 | 0 | (242) |
| BRC | ABX.HE.AAA.6-2 Index « | 0.110 | Monthly | 05/25/2046 | 191 | (57) | 41 | 0 | (16) |
| SAL | ABX.HE.AAA.6-2 Index « | 0.110 | Monthly | 05/25/2046 | 1914 | (472) | 319 | 0 | (153) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1800) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(518) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 185

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.)

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(5)</sup> |
|  AZD | $427 | $0 | $0 | $427 | $0 | $0 | $0 | $0 | $427 | $(310) | $117 |
|  BOA | 10 | 97872 | 0 | 97882 | (30) | (5068) | (349) | (5447) | 92435 | 9268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101703 |
|  BPS | 0 | 378 | 0 | 378 | 0 | (927) | 0 | (927) | (549) | 1172 | 623 |
|  BRC | 2636 | 333 | 0 | 2969 | 0 | (1347) | (16) | (1363) | 1606 | (1547) | 59 |
|  BSH | 688 | 0 | 0 | 688 | (687) | 0 | 0 | (687) | 1 | 0 | 1 |
|  CBK | 0 | 1528 | 0 | 1528 | (13) | 0 | 0 | (13) | 1515 | (1786) | (271) |
|  DUB | 0 | 57057 | 0 | 57057 | 0 | (1456) | 0 | (1456) | 55601 | 0 | 55601 |
|  FAR | 0 | 11939 | 0 | 11939 | 0 | (1775) | 0 | (1775) | 10164 | (1250) | 8914 |
|  GLM | 0 | 11356 | 0 | 11356 | 0 | 0 | 0 | 0 | 11356 | 924 | 12280 |
|  GSC | 0 | 3032 | 0 | 3032 | 0 | (4088) | 0 | (4088) | (1056) | 0 | (1056) |
|  IND | 1045 | 0 | 0 | 1045 | 0 | 0 | 0 | 0 | 1045 | (1430) | (385) |
|  JPM | 0 | 35203 | 0 | 35203 | 0 | 0 | 0 | 0 | 35203 | 1227 | 36430 |
|  MBC | 6 | 0 | 0 | 6 | 0 | 0 | 0 | 0 | 6 | 0 | 6 |
|  MSC | 0 | 0 | 0 | 0 | 0 | (3083) | 0 | (3083) | (3083) | 3657 | 574 |
|  MYC | 0 | 11044 | 0 | 11044 | 0 | (223) | 0 | (223) | 10821 | (1420) | 9401 |
|  NGF | 0 | 44821 | 0 | 44821 | 0 | (1954) | 0 | (1954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3470) | 39397 |
|  SAL | 0 | 67 | 0 | 67 | 0 | (1304) | (153) | (1457) | (1390) | 1399 | 9 |
|  SCX | 124 | 0 | 0 | 124 | (125) | 0 | 0 | (125) | (1) | 0 | (1) |
|  SOG | 78 | 0 | 0 | 78 | (76) | 0 | 0 | (76) | 2 | 0 | 2 |
|  SSB | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | 0 | 2 |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274630 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279646 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(931) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21225) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(518) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22674) |  |  |  |

---

(k) Securities with an aggregate market value of $19,070 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $3118 | $3118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 5984 | 5984 |
|  | $0 | $0 | $0 | $0 | $9102 | $9102 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $5016 | $0 | $5016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | 274630 | 274630 |
|  | $0 | $0 | $0 | $5016 | $274630 | $279646 |
|  | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283732 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288748 |

---

186 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate Contracts** | **Total** |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $168 | $168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 8701 | 8701 |
|  | $0 | $0 | $0 | $0 | $8869 | $8869 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $931 | $0 | $931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 0 | 21225 | 21225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 518 | 0 | 0 | 0 | 518 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21225 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22674 |
|  | $0 | $518 | $0 | $931 | $30094 | $31543 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $47402 | $47402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 161047 | 161047 |
|  | $0 | $0 | $0 | $0 | $208449 | $208449 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17407) | $0 | $(17407) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1385) | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76827) | (78212) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 3637 | 0 | 0 | 32095 | 35732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 188 | 0 | 0 | 0 | 188 |
|  | $0 | $2440 | $0 | $(17407) | $(44732) | $(59699) |
|  | $0 | $2440 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(17407) | $163717 | $148750 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $(44417) | $(44417) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | (112834) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112834) |
|  | $0 | $0 | $0 | $0 | $(157251) | $(157251) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $8888 | $0 | $8888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | (5204) | (5204) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 0 | 0 | 0 | 2510 | 2510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (140) | 0 | 0 | 0 | (140) |
|  | $0 | $(140) | $0 | $8888 | $(2694) | $6054 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(140) | $0 | $8888 | $(159945) | $(151197) |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $0 | $9621 | $9621 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | 22228 | 0 | 22228 |
| &nbsp;&nbsp; Industrials | 0 | 118858 | 0 | 118858 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; Michigan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | 3526 | 0 | 3526 |
|  U.S. Government Agencies | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20146718 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20146718 |
|  U.S. Treasury Obligations | 0 | 39391 | 0 | 39391 |
|  Non-Agency Mortgage-Backed Securities | 0 | 3498937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65405 | 3564342 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile ABS Other | 0 | 173168 | 0 | 173168 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
| &nbsp;&nbsp; Automobile Sequential | $0 | $195097 | $0 | $195097 |
| &nbsp;&nbsp; CMBS Other | 0 | 298456 | 0 | 298456 |
| &nbsp;&nbsp; Finance Consumer Loans | 0 | 1120 | 0 | 1120 |
| &nbsp;&nbsp; Home Equity Other | 0 | 848814 | 0 | 848814 |
| &nbsp;&nbsp; Home Equity Sequential | 0 | 9301 | 0 | 9301 |
| &nbsp;&nbsp; Manufacturing House Sequential | 0 | 3699 | 0 | 3699 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 128609 | 0 | 128609 |
| &nbsp;&nbsp; Other ABS | 0 | 1715715 | 342982 | 2058697 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 105748 | 0 | 105748 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27309385 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418008 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27727393 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 187

------

Schedule of Investments PIMCO Mortgage Opportunities and Bond Fund (Cont.) March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>Value at<br>03/31/2026** |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $351049 | $0 | $0 | $351049 |
|  Total Investments | $351049 | $27309385 | $418008 | $28078442 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | 0 | (3949342) | 0 | (3949342) |
|  | $0 | $(3949342) | $0 | $(3949342) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 0 | 9102 | 0 | 9102 |
|  Over the counter | 0 | 279646 | 0 | 279646 |
|  | $0 | $288748 | $0 | $288748 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | $0 | $(8847) | $0 | $(8847) |
|  Over the counter | 0 | (22156) | (518) | (22674) |
|  | $0 | $(31003) | $(518) | $(31521) |
|  Total Financial Derivative Instruments | $0 | $257745 | $(518) | $257227 |
|  Totals | $351049 | $23617788 | $417490 | $24386327 |

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases<sup>(1)</sup> | Net<br>Sales/<br>Settlements<sup>(1)</sup> | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(2)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $6784 | $2821 | $(21) | $13 | $0 | $24 | $0 | $0 | $9621 | $24 |
|  Non-Agency Mortgage-Backed Securities | 294573 | 0 | (135047) | 360 | 687 | (3667) | 0 | (91501) | 65405 | (258) |
|  Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> | Asset-Backed Securities<sup>(3)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Other ABS | 77558 | 353550 | (75260) | 52 | (932) | (1351) | 0 | (10635) | 342982 | (1628) |
|  | $378915 | $356371 | $(210328) | $425 | $(245) | $(4994) | $0 | $(102136) | $418008 | $(1862) |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Over the counter | $(557) | $23 | $(22) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 | $(139) | $0 | $0 | $(518) | $(21) |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378358 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356394 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(210350) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | $(68) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5133) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102136) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417490 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1883) |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation<br>Technique | Unobservable<br>Inputs | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $9621 | Discounted Cash Flow | Discount Rate | 6.771-6.790 | 6.777 |
|  Non-Agency Mortgage-Backed Securities | 65405 | Discounted Cash Flow | Discount Rate | 5.525-7.318 | 5.985 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp;&nbsp;&nbsp; Other ABS | 226465 | Discounted Cash Flow | Discount Rate | 5.327-25.000 | 7.117 |
|  | 109525 | Proxy Pricing | Base Price | 99.939-100.000 | 99.978 |
|  | 6992 | Recent Transaction | Purchase Price | 100.000 |  |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Over the counter | (518) | Indicative Market Quotation | Broker Quote | 91.500-92.000 | 91.897 |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417490 |  |  |  |  |

---

<sup>(1)</sup> Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions.

<sup>(2)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

<sup>(3)</sup> Security type updated from Non-Agency Mortgage-Backed Securities to Asset-Backed Securities since prior fiscal year end.

---

| | | |
|:---|:---|:---|
| **188** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | March 31, 2026 |

---

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 126.2% | INVESTMENTS IN SECURITIES 126.2% | INVESTMENTS IN SECURITIES 126.2% |
| LOAN PARTICIPATIONS AND ASSIGNMENTS 0.2% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.2% | LOAN PARTICIPATIONS AND ASSIGNMENTS 0.2% |
|  Alfa-Bank CJSC | Alfa-Bank CJSC | Alfa-Bank CJSC |
|  5.860% (EUR003M + 2.100%) due 10/21/2026 «~(f) | 431 | 431 |
|  Dorchester LLC | Dorchester LLC | Dorchester LLC |
|  4.610% (EUR003M + 2.300%) due 01/04/2027 «~(f) | 700 | 809 |
|  Fennovoima OYJ | Fennovoima OYJ | Fennovoima OYJ |
|  0.600% - 4.485% (EUR003M + 2.350%) due 07/10/2028 «~µ(f) | 286 | 333 |
|  0.600% - 4.485% (EUR003M + 2.350%) due 07/10/2028 «~(f) | 811 | 943 |
|  FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC | FPS Finance Co. 1 LLC |
|  6.610% (EUR003M + 2.950%) due 05/26/2028 «~ | 400 | 400 |
|  Total Loan Participations and Assignments (Cost $2,923) | Total Loan Participations and Assignments (Cost $2,923) | 2916 |
| CORPORATE BONDS & NOTES 32.3% | CORPORATE BONDS & NOTES 32.3% | CORPORATE BONDS & NOTES 32.3% |
| BANKING & FINANCE 15.5% | BANKING & FINANCE 15.5% | BANKING & FINANCE 15.5% |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.456% due 02/06/2032 •  | 3400 | 3358 |
|  4.948% due 07/22/2028 •  | 3300 | 3322 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  4.521% due 02/24/2032 •  | 3400 | 3328 |
|  BlueHub Loan Fund, Inc. | BlueHub Loan Fund, Inc. | BlueHub Loan Fund, Inc. |
|  2.890% due 01/01/2027 | 1300 | 1274 |
|  3.099% due 01/01/2030 | 3400 | 3142 |
|  Boston Properties LP | Boston Properties LP | Boston Properties LP |
|  2.550% due 04/01/2032 | 1100 | 944 |
|  BPCE SA | BPCE SA | BPCE SA |
|  6.714% due 10/19/2029 •  | 3800 | 3976 |
|  Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. |
|  2.724% due 04/15/2031 | 17900 | 16241 |
|  Citibank NA | Citibank NA | Citibank NA |
|  4.876% due 11/19/2027 •  | 7200 | 7224 |
|  Community Preservation Corp. | Community Preservation Corp. | Community Preservation Corp. |
|  2.867% due 02/01/2030 | 15000 | 13956 |
|  Corp. Inmobiliaria Vesta SAB de CV | Corp. Inmobiliaria Vesta SAB de CV | Corp. Inmobiliaria Vesta SAB de CV |
|  3.625% due 05/13/2031 | 10000 | 9041 |
|  CPI Property Group SA | CPI Property Group SA | CPI Property Group SA |
|  4.000% due 01/22/2028 þ | 3100 | 3953 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  4.656% due 01/12/2032 •  | 1700 | 1677 |
|  CTP NV | CTP NV | CTP NV |
|  0.625% due 09/27/2026 | 6500 | 7427 |
|  Digital Dutch Finco BV | Digital Dutch Finco BV | Digital Dutch Finco BV |
|  1.500% due 03/15/2030 | 4300 | 4555 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.600% due 11/15/2030 | 2100 | 2081 |
|  European Investment Bank | European Investment Bank | European Investment Bank |
|  1.625% due 10/09/2029 | 5650 | 5241 |
|  2.375% due 05/24/2027 | 10000 | 9842 |
|  3.300% due 02/03/2028 | 3400 | 2282 |
|  3.750% due 02/14/2033 | 4000 | 3907 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  4.125% due 08/17/2027 | 6600 | 6517 |
|  5.420% due 04/09/2031 | 1900 | 1866 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  3.691% due 06/05/2028 •  | 3300 | 3271 |
|  4.148% due 01/21/2029 •  | 4200 | 4175 |
|  Golub Capital BDC, Inc. | Golub Capital BDC, Inc. | Golub Capital BDC, Inc. |
|  7.050% due 12/05/2028 | 3900 | 3992 |
|  HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
|  6.000% due 03/15/2036 | 2200 | 2136 |
|  6.150% due 01/15/2031 | 3200 | 3261 |
|  HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC | HAT Holdings I LLC/HAT Holdings II LLC |
|  3.750% due 09/15/2030 | 675 | 622 |
|  Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP |
|  2.900% due 12/15/2031 | 6800 | 6049 |
|  3.500% due 09/15/2030 | 3100 | 2915 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
|  4.398% due 03/10/2030 •  | $| 3000 | 2978 |
|  5.130% due 03/03/2031 •  |  | 3300 | 3338 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  2.069% due 06/01/2029 •  |  | 1783 | 1697 |
|  3.702% due 05/06/2030 •  |  | 1300 | 1268 |
|  4.347% due 01/22/2032 •  |  | 3400 | 3353 |
|  5.299% due 07/24/2029 •  |  | 317 | 323 |
|  6.070% due 10/22/2027 •  |  | 2400 | 2423 |
|  KEB Hana Bank | KEB Hana Bank | KEB Hana Bank | KEB Hana Bank |
|  5.375% due 04/23/2027 |  | 2700 | 2735 |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  2.650% due 11/15/2033 |  | 7900 | 6286 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  4.241% due 02/10/2030 •  |  | 3400 | 3364 |
|  Low Income Investment Fund | Low Income Investment Fund | Low Income Investment Fund | Low Income Investment Fund |
|  3.386% due 07/01/2026 |  | 1700 | 1695 |
|  3.711% due 07/01/2029 |  | 4300 | 4159 |
|  Manulife Financial Corp. | Manulife Financial Corp. | Manulife Financial Corp. | Manulife Financial Corp. |
|  3.703% due 03/16/2032 |  | 7000 | 6632 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  2.734% (EUR003M + 0.700%) due 10/05/2029 ~ | EUR | 2900 | 3351 |
|  4.708% due 03/12/2032 •  | $| 1900 | 1888 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |
|  4.204% due 11/17/2028 •  |  | 3300 | 3290 |
|  4.213% due 02/08/2030 •  |  | 3400 | 3366 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  2.080% due 09/22/2031 |  | 2900 | 2510 |
|  5.094% due 10/16/2029 |  | 3200 | 3237 |
|  5.430% due 03/09/2028 |  | 4400 | 4469 |
|  Piedmont Operating Partnership LP | Piedmont Operating Partnership LP | Piedmont Operating Partnership LP | Piedmont Operating Partnership LP |
|  3.150% due 08/15/2030 |  | 2700 | 2429 |
|  Prologis LP | Prologis LP | Prologis LP | Prologis LP |
|  4.200% due 02/15/2033 | CAD | 4600 | 3296 |
|  Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. |
|  5.741% due 03/20/2031 •  | $| 3200 | 3285 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  2.472% due 01/14/2029 |  | 5000 | 4747 |
|  Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. | Sumitomo Mitsui Trust Bank Ltd. |
|  2.800% due 03/10/2027 |  | 13000 | 12826 |
|  5.500% due 03/09/2028 |  | 3600 | 3675 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.500% due 03/24/2029 |  | 1700 | 1689 |
|  Toronto-Dominion Bank | Toronto-Dominion Bank | Toronto-Dominion Bank | Toronto-Dominion Bank |
|  5.264% due 12/11/2026 |  | 3800 | 3826 |
|  UBS AG | UBS AG | UBS AG | UBS AG |
|  4.302% due 03/16/2029 •  |  | 3400 | 3396 |
|  UBS Group AG | UBS Group AG | UBS Group AG | UBS Group AG |
|  3.126% due 08/13/2030 •  |  | 3900 | 3710 |
|  5.428% due 02/08/2030 •  |  | 5400 | 5518 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  2.450% due 02/01/2032 |  | 7600 | 6622 |
|  |  |  | 258956 |
| INDUSTRIALS 9.9% | INDUSTRIALS 9.9% | INDUSTRIALS 9.9% | INDUSTRIALS 9.9% |
|  Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC |
|  4.750% due 03/09/2037 |  | 3700 | 3491 |
|  AP Moller - Maersk AS | AP Moller - Maersk AS | AP Moller - Maersk AS | AP Moller - Maersk AS |
|  5.875% due 09/14/2033 |  | 2914 | 3048 |
|  Autodesk, Inc. | Autodesk, Inc. | Autodesk, Inc. | Autodesk, Inc. |
|  2.400% due 12/15/2031 |  | 5000 | 4389 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 |  | 17300 | 17801 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  5.050% due 03/21/2030 |  | 3200 | 3237 |
|  California Endowment | California Endowment | California Endowment | California Endowment |
|  2.498% due 04/01/2051 |  | 6900 | 4084 |
|  Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
|  3.000% due 10/15/2030 |  | 2800 | 2455 |
|  Cigna Group | Cigna Group | Cigna Group | Cigna Group |
|  4.500% due 09/15/2030 |  | 2500 | 2492 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
|  4.850% due 11/01/2028 | 2100 | 2103 |
|  Continental Wind LLC | Continental Wind LLC | Continental Wind LLC |
|  6.000% due 02/28/2033 | 3542 | 3619 |
|  Coty, Inc. | Coty, Inc. | Coty, Inc. |
|  4.500% due 05/15/2027 | 2700 | 3125 |
|  Denso Corp. | Denso Corp. | Denso Corp. |
|  4.420% due 09/11/2029 | 6300 | 6293 |
|  Doris Duke Charitable Foundation | Doris Duke Charitable Foundation | Doris Duke Charitable Foundation |
|  2.345% due 07/01/2050 | 12500 | 7003 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  4.550% due 03/15/2028 | 2600 | 2590 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  4.600% due 04/06/2028 (b) | 3300 | 3300 |
|  John D & Catherine T MacArthur Foundation | John D & Catherine T MacArthur Foundation | John D & Catherine T MacArthur Foundation |
|  1.299% due 12/01/2030 | 13400 | 11569 |
|  JSW Hydro Energy Ltd. | JSW Hydro Energy Ltd. | JSW Hydro Energy Ltd. |
|  4.125% due 05/18/2031 | 4657 | 4266 |
|  Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 | Liberty Utilities Finance GP 1 |
|  2.050% due 09/15/2030 | 13600 | 12225 |
|  Local Initiatives Support Corp. | Local Initiatives Support Corp. | Local Initiatives Support Corp. |
|  3.782% due 03/01/2027 | 5000 | 4978 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  4.500% due 10/15/2031 | 3200 | 3164 |
|  Massachusetts Higher Education Assistance Corp. | Massachusetts Higher Education Assistance Corp. | Massachusetts Higher Education Assistance Corp. |
|  2.673% due 07/01/2031 | 4400 | 3861 |
|  Mather Foundation | Mather Foundation | Mather Foundation |
|  2.675% due 10/01/2031 | 9600 | 8574 |
|  Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. |
|  4.625% due 07/03/2031 | 5000 | 3700 |
|  NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. |
|  5.000% due 01/15/2033 | 5000 | 4978 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  4.450% due 09/26/2030 | 4200 | 4049 |
|  4.550% due 02/04/2029 | 3400 | 3358 |
|  Quanta Services, Inc. | Quanta Services, Inc. | Quanta Services, Inc. |
|  4.300% due 08/09/2028 | 3200 | 3196 |
|  ReNew Pvt Ltd. | ReNew Pvt Ltd. | ReNew Pvt Ltd. |
|  5.875% due 03/05/2027 | 3754 | 3716 |
|  S&P Global, Inc. | S&P Global, Inc. | S&P Global, Inc. |
|  2.950% due 03/01/2029 | 2200 | 2120 |
|  Salesforce, Inc. | Salesforce, Inc. | Salesforce, Inc. |
|  4.500% due 03/15/2028 | 1850 | 1851 |
|  4.650% due 03/15/2029 | 1850 | 1854 |
|  Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC |
|  5.200% due 01/15/2030 | 4100 | 4181 |
|  Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC |
|  5.185% due 01/15/2036 | 2200 | 2166 |
|  5.418% due 01/15/2035 | 2100 | 2119 |
|  Snam SpA | Snam SpA | Snam SpA |
|  5.000% due 05/28/2030 | 3500 | 3537 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.550% due 09/11/2028 | 4100 | 4090 |
|  Wabtec Transportation Netherlands BV | Wabtec Transportation Netherlands BV | Wabtec Transportation Netherlands BV |
|  1.250% due 12/03/2027 | 1900 | 2124 |
|  |  | 164706 |
| UTILITIES 6.9% | UTILITIES 6.9% | UTILITIES 6.9% |
|  AES Corp. | AES Corp. | AES Corp. |
|  2.450% due 01/15/2031 | 1600 | 1416 |
|  Ameren Missouri Securitization Funding I LLC | Ameren Missouri Securitization Funding I LLC | Ameren Missouri Securitization Funding I LLC |
|  4.850% due 10/01/2041 | 4721 | 4714 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  5.300% due 04/01/2053 | 2000 | 1883 |
|  Clearway Energy Operating LLC | Clearway Energy Operating LLC | Clearway Energy Operating LLC |
|  4.750% due 03/15/2028 | 2000 | 1974 |
|  Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC |
|  5.794% due 06/30/2053 | 2500 | 2431 |
|  Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
|  3.950% due 11/15/2028 | 4000 | 3970 |
|  Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC |
|  2.500% due 12/01/2029 | 4900 | 4594 |

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| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **189** |

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| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

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---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  EDP Finance BV | EDP Finance BV | EDP Finance BV | EDP Finance BV |
|  1.710% due 01/24/2028 | $| 9000 | 8544 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  2.500% due 07/12/2031 |  | 500 | 444 |
|  4.625% due 06/15/2027 |  | 3452 | 3460 |
|  5.000% due 06/15/2032 |  | 1600 | 1599 |
|  Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
|  4.450% due 12/15/2030 |  | 3400 | 3355 |
|  Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. |
|  4.100% due 09/26/2028 |  | 4300 | 4270 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  1.900% due 06/15/2028 |  | 8100 | 7683 |
|  2.200% due 12/02/2026 | AUD | 10300 | 6979 |
|  Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. |
|  1.960% due 06/27/2030 | $| 4900 | 4410 |
|  Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
|  3.500% due 05/15/2031 | EUR | 2200 | 2529 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  5.050% due 10/15/2032 | $| 3300 | 3280 |
|  6.700% due 04/01/2053 |  | 8600 | 8911 |
|  Pattern Energy Operations LP/Pattern Energy Operations, Inc. | Pattern Energy Operations LP/Pattern Energy Operations, Inc. | Pattern Energy Operations LP/Pattern Energy Operations, Inc. | Pattern Energy Operations LP/Pattern Energy Operations, Inc. |
|  4.500% due 08/15/2028 |  | 3000 | 2931 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  3.700% due 06/15/2028 |  | 3400 | 3356 |
|  ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries | ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries | ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries | ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries |
|  4.500% due 07/14/2028 |  | 5000 | 4720 |
|  RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC |
|  5.125% due 09/18/2035 |  | 4200 | 4085 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  4.950% due 08/15/2028 |  | 4300 | 4370 |
|  SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC |
|  4.697% due 06/15/2042 |  | 1935 | 1869 |
|  Solar Star Funding LLC | Solar Star Funding LLC | Solar Star Funding LLC | Solar Star Funding LLC |
|  5.375% due 06/30/2035 |  | 4344 | 4365 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.750% due 02/01/2032 |  | 5200 | 4640 |
|  3.650% due 06/01/2051 |  | 1900 | 1304 |
|  4.125% due 03/01/2048 |  | 250 | 187 |
|  4.650% due 10/01/2043 |  | 100 | 84 |
|  4.875% due 03/01/2049 |  | 450 | 377 |
|  5.250% due 03/15/2030 |  | 3000 | 3048 |
|  Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
|  2.850% due 09/03/2041 |  | 5800 | 4083 |
|  |  |  | 115865 |
|  Total Corporate Bonds & Notes (Cost $568,832) | Total Corporate Bonds & Notes (Cost $568,832) | Total Corporate Bonds & Notes (Cost $568,832) | 539527 |
| MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% | MUNICIPAL BONDS & NOTES 0.5% |
| CALIFORNIA 0.2% | CALIFORNIA 0.2% | CALIFORNIA 0.2% | CALIFORNIA 0.2% |
|  California Health Facilities Financing Authority Revenue Bonds, Series 2022 | California Health Facilities Financing Authority Revenue Bonds, Series 2022 | California Health Facilities Financing Authority Revenue Bonds, Series 2022 | California Health Facilities Financing Authority Revenue Bonds, Series 2022 |
|  4.190% due 06/01/2037 |  | 2000 | 1875 |
|  California Municipal Finance Authority Revenue Bonds, Series 2020 | California Municipal Finance Authority Revenue Bonds, Series 2020 | California Municipal Finance Authority Revenue Bonds, Series 2020 | California Municipal Finance Authority Revenue Bonds, Series 2020 |
|  2.877% due 11/01/2035 |  | 2100 | 1742 |
|  |  |  | 3617 |
| MICHIGAN 0.2% | MICHIGAN 0.2% | MICHIGAN 0.2% | MICHIGAN 0.2% |
|  University of Michigan Revenue Bonds, Series 2022 | University of Michigan Revenue Bonds, Series 2022 | University of Michigan Revenue Bonds, Series 2022 | University of Michigan Revenue Bonds, Series 2022 |
|  3.504% due 04/01/2052 |  | 3100 | 2251 |
| NEW YORK 0.1% | NEW YORK 0.1% | NEW YORK 0.1% | NEW YORK 0.1% |
|  New York City, New York Housing Development Corp. Revenue Notes, Series 2021 | New York City, New York Housing Development Corp. Revenue Notes, Series 2021 | New York City, New York Housing Development Corp. Revenue Notes, Series 2021 | New York City, New York Housing Development Corp. Revenue Notes, Series 2021 |
|  1.377% due 05/01/2027 |  | 200 | 195 |
|  1.477% due 11/01/2027 |  | 300 | 289 |
|  1.577% due 05/01/2028 |  | 500 | 476 |
|  1.677% due 11/01/2028 |  | 875 | 825 |
|  |  |  | 1785 |
|  Total Municipal Bonds & Notes (Cost $9,075) | Total Municipal Bonds & Notes (Cost $9,075) | Total Municipal Bonds & Notes (Cost $9,075) | 7653 |

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| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| U.S. GOVERNMENT AGENCIES 42.3% | U.S. GOVERNMENT AGENCIES 42.3% | U.S. GOVERNMENT AGENCIES 42.3% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  2.500% due 07/01/2050 | 6799 | 5788 |
|  3.500% due 12/01/2047 - 05/01/2048 | 14807 | 13821 |
|  4.000% due 08/01/2030 - 11/01/2053 | 31975 | 30249 |
|  4.500% due 02/01/2029 - 10/01/2053 | 56753 | 54948 |
|  5.000% due 10/01/2039 - 03/01/2054 | 41745 | 41306 |
|  5.500% due 01/01/2034 - 12/01/2054 | 42049 | 42339 |
|  6.000% due 09/01/2027 - 05/01/2040 | 582 | 611 |
|  6.500% due 02/01/2054 | 176 | 182 |
|  6.534% due 07/01/2030 •  | 1 | 1 |
|  Federal Home Loan Mortgage Corp. Multiclass Certificates | Federal Home Loan Mortgage Corp. Multiclass Certificates | Federal Home Loan Mortgage Corp. Multiclass Certificates |
|  0.826% due 02/25/2031 | 762 | 693 |
|  1.783% due 06/25/2034 | 15000 | 12542 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  1.012% due 08/25/2029 ~(a) | 23966 | 609 |
|  1.133% due 09/25/2030 ~(a) | 59419 | 2357 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.196% due 12/15/2042 •  | 1685 | 1665 |
|  4.497% due 10/15/2037 •  | 4 | 4 |
|  6.500% due 05/15/2032 | 266 | 272 |
|  7.000% due 02/15/2027 | 4 | 4 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  4.562% due 08/15/2032 ~ | 2 | 2 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  2.500% due 02/01/2035 | 1919 | 1855 |
|  3.000% due 05/01/2028 - 07/01/2052 | 26116 | 23260 |
|  3.500% due 03/01/2047 | 744 | 698 |
|  4.000% due 08/01/2029 - 09/01/2053 | 65162 | 61743 |
|  4.010% due 12/01/2028 | 7559 | 7550 |
|  4.500% due 04/01/2031 - 09/01/2053 | 62439 | 60482 |
|  5.000% due 02/01/2038 - 04/01/2054 | 61860 | 61277 |
|  5.114% due 07/01/2044 •  | 13 | 13 |
|  5.460% due 08/01/2035 •  | 104 | 106 |
|  5.500% due 07/01/2029 - 11/01/2053 | 31963 | 32254 |
|  5.643% due 01/01/2035 •  | 25 | 26 |
|  5.749% due 03/01/2033 •  | 1 | 1 |
|  5.943% due 07/01/2035 •  | 23 | 23 |
|  6.000% due 09/01/2028 - 12/01/2054 | 22073 | 22566 |
|  6.235% due 08/01/2035 •  | 43 | 44 |
|  6.290% due 09/01/2035 •  | 3 | 3 |
|  6.344% due 09/01/2034 •  | 10 | 10 |
|  6.546% due 04/01/2038 •  | 13 | 13 |
|  6.594% due 09/01/2037 •  | 4 | 4 |
|  6.777% due 04/01/2038 •  | 4 | 4 |
|  6.857% due 04/01/2038 •  | 6 | 6 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.842% due 07/25/2037 •  | 61 | 60 |
|  4.026% due 05/25/2037 •  | 2 | 2 |
|  4.106% due 06/25/2055 •  | 369 | 365 |
|  4.136% due 03/25/2037 •  | 5 | 5 |
|  6.125% due 05/25/2035 ~ | 10 | 10 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  6.500% due 06/25/2044 | 9 | 9 |
|  Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES | Federal National Mortgage Association-ACES |
|  2.243% due 01/25/2031 ~(a) | 44605 | 2036 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  3.500% due 08/15/2045 - 08/20/2049 | 12426 | 11591 |
|  4.000% due 09/20/2040 - 09/20/2055 | 15229 | 14378 |
|  5.000% due 03/15/2033 - 05/15/2042 | 183 | 187 |

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| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.375% due 07/20/2027 - 08/20/2027 •  | 1 | 1 |
|  5.625% due 02/20/2032 •  | 48 | 48 |
|  6.000% due 04/15/2037 | 26 | 28 |
|  7.000% due 02/20/2032 | 1 | 1 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.082% due 10/20/2043 •  | 743 | 720 |
|  4.132% due 05/20/2047 •  | 235 | 226 |
|  4.363% due 05/20/2066 •  | 4 | 4 |
|  4.383% due 05/20/2065 •  | 134 | 134 |
|  4.503% due 02/20/2066 •  | 28 | 29 |
|  4.583% due 09/20/2066 •  | 814 | 817 |
|  5.077% due 11/20/2067 •  | 742 | 751 |
|  5.227% due 06/20/2067 •  | 1971 | 1998 |
|  5.592% due 04/20/2067 •  | 443 | 448 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  2.000% due 05/01/2056 | 4400 | 3634 |
|  4.000% due 04/01/2056 - 05/01/2056 | 18000 | 16858 |
|  5.000% due 04/01/2056 - 05/01/2056 | 9040 | 8946 |
|  6.000% due 04/01/2056 | 18900 | 19221 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  1.500% due 09/15/2031 | 7800 | 6829 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 04/01/2056 | 18250 | 17224 |
|  4.500% due 04/01/2056 - 06/01/2056 | 30100 | 29026 |
|  5.000% due 04/01/2056 - 05/01/2056 | 34400 | 33905 |
|  5.500% due 05/01/2056 | 4035 | 4048 |
|  6.000% due 06/01/2056 - 07/01/2056 | 44801 | 45594 |
|  6.500% due 05/01/2056 | 9000 | 9304 |
|  Total U.S. Government Agencies (Cost $712,102) | Total U.S. Government Agencies (Cost $712,102) | 707768 |
| U.S. TREASURY OBLIGATIONS 24.9% | U.S. TREASURY OBLIGATIONS 24.9% | U.S. TREASURY OBLIGATIONS 24.9% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.375% due 11/15/2040 (h) | 29100 | 18754 |
|  1.375% due 08/15/2050 | 4000 | 1957 |
|  1.625% due 11/15/2050 (h) | 26500 | 13832 |
|  1.750% due 08/15/2041 (h) | 26800 | 17926 |
|  1.875% due 02/15/2051 (h) | 16325 | 9068 |
|  1.875% due 11/15/2051 | 4300 | 2363 |
|  2.000% due 11/15/2041 (j) | 6400 | 4428 |
|  2.000% due 02/15/2050 (h) | 20000 | 11648 |
|  2.000% due 08/15/2051 (h) | 15425 | 8788 |
|  2.250% due 05/15/2041 | 2200 | 1604 |
|  2.250% due 08/15/2049 (h)(j) | 32572 | 20267 |
|  2.250% due 02/15/2052 (h) | 8000 | 4824 |
|  2.375% due 02/15/2042 (h) | 21900 | 15967 |
|  2.375% due 11/15/2049 (h) | 7756 | 4943 |
|  2.375% due 05/15/2051 (h) | 4100 | 2566 |
|  2.500% due 02/15/2045 (h)(j)(l) | 1900 | 1333 |
|  2.750% due 08/15/2047 (h)(l) | 300 | 212 |
|  2.875% due 05/15/2043 (j) | 3900 | 2997 |
|  2.875% due 05/15/2049 (h) | 18300 | 13016 |
|  3.000% due 05/15/2042 (l) | 400 | 319 |
|  3.000% due 11/15/2044 | 2100 | 1609 |
|  3.000% due 05/15/2045 | 2500 | 1903 |
|  3.000% due 02/15/2048 (h) | 12500 | 9221 |
|  3.000% due 08/15/2048 | 2100 | 1542 |
|  3.000% due 02/15/2049 (h) | 9200 | 6722 |
|  3.125% due 02/15/2043 (h) | 12100 | 9692 |
|  3.125% due 08/15/2044 (l) | 1300 | 1019 |
|  3.125% due 05/15/2048 | 3400 | 2560 |
|  3.250% due 05/15/2042 (h) | 70400 | 58028 |
|  3.375% due 08/15/2042 (h) | 14500 | 12117 |
|  3.375% due 05/15/2044 (j)(l) | 1000 | 818 |
|  3.375% due 11/15/2048 (h) | 9300 | 7291 |
|  3.625% due 08/15/2043 | 5150 | 4400 |
|  3.625% due 02/15/2044 | 2200 | 1869 |
|  3.750% due 11/15/2043 (h)(j)(l) | 7600 | 6588 |
|  3.875% due 05/15/2043 (h) | 8200 | 7270 |
|  4.000% due 11/15/2042 (h) | 14364 | 13002 |
|  4.375% due 05/15/2041 (h) | 7268 | 7003 |
|  4.375% due 08/15/2043 (h) | 11065 | 10448 |
|  4.500% due 11/15/2054 (h) | 2200 | 2056 |
|  4.625% due 05/15/2044 (h) | 2700 | 2619 |

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| | | |
|:---|:---|:---|
| **190** | **PIMCO BOND FUNDS** | See Accompanying Notes |

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March 31, 2026

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| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.625% due 11/15/2045 (h) | $| 2900 | 2798 |
|  4.625% due 05/15/2054 (h) |  | 7700 | 7344 |
|  4.625% due 11/15/2055 |  | 7200 | 6880 |
|  4.750% due 08/15/2055 (h) |  | 18341 | 17877 |
|  4.875% due 08/15/2045 (h) |  | 2109 | 2103 |
|  U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) | U.S. Treasury Inflation Protected Securities (e) |
|  0.125% due 02/15/2051 |  | 23609 | 12572 |
|  0.125% due 02/15/2052 |  | 1519 | 789 |
|  0.250% due 02/15/2050 |  | 5819 | 3298 |
|  0.625% due 02/15/2043 (h) |  | 990 | 730 |
|  0.750% due 02/15/2045 |  | 12430 | 8940 |
|  0.875% due 02/15/2047 |  | 3772 | 2678 |
|  1.000% due 02/15/2046 |  | 137 | 102 |
|  1.000% due 02/15/2049 (h) |  | 1422 | 1007 |
|  1.375% due 02/15/2044 (h) |  | 2930 | 2424 |
|  1.500% due 02/15/2053 |  | 1750 | 1343 |
|  2.125% due 02/15/2054 (h) |  | 5086 | 4490 |
|  2.375% due 02/15/2055 (h) |  | 1134 | 1055 |
|  1.250% due 04/15/2028 |  | 7047 | 7077 |
|  U.S. Treasury STRIPS Coupon | U.S. Treasury STRIPS Coupon | U.S. Treasury STRIPS Coupon | U.S. Treasury STRIPS Coupon |
|  0.000% due 02/15/2040 (a) |  | 1400 | 719 |
|  0.000% due 08/15/2040 (a) |  | 300 | 149 |
|  0.000% due 02/15/2041 (a) |  | 400 | 193 |
|  0.000% due 05/15/2041 (a) |  | 3600 | 1713 |
|  0.000% due 08/15/2041 (a) |  | 5500 | 2579 |
|  0.000% due 11/15/2041 (a) |  | 1700 | 785 |
|  0.000% due 02/15/2042 (a) |  | 2300 | 1046 |
|  0.000% due 08/15/2042 (a) |  | 2900 | 1279 |
|  Total U.S. Treasury Obligations (Cost $478,945) | Total U.S. Treasury Obligations (Cost $478,945) | Total U.S. Treasury Obligations (Cost $478,945) | 416559 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 7.3% | NON-AGENCY MORTGAGE-BACKED SECURITIES 7.3% | NON-AGENCY MORTGAGE-BACKED SECURITIES 7.3% | NON-AGENCY MORTGAGE-BACKED SECURITIES 7.3% |
|  American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust | American Home Mortgage Assets Trust |
|  6.750% due 11/25/2046 þ |  | 530 | 483 |
|  BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust |
|  4.837% due 09/15/2038 •  |  | 6000 | 5781 |
|  Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust | Banc of America Mortgage Trust |
|  6.000% due 05/25/2037 |  | 949 | 754 |
|  BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust | BCAP LLC Trust |
|  4.447% due 03/26/2037 þ |  | 27 | 27 |
|  Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust | Bear Stearns Structured Products, Inc. Trust |
|  3.920% due 12/26/2046 ~ |  | 226 | 175 |
|  BSREP Commercial Mortgage Trust | BSREP Commercial Mortgage Trust | BSREP Commercial Mortgage Trust | BSREP Commercial Mortgage Trust |
|  4.737% due 08/15/2038 •  |  | 8858 | 8428 |
|  CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust | CSMC Mortgage-Backed Trust |
|  4.393% due 04/25/2037 •  |  | 2283 | 569 |
|  DC Office Trust | DC Office Trust | DC Office Trust | DC Office Trust |
|  2.965% due 09/15/2045 |  | 11900 | 10745 |
|  DOLP Trust | DOLP Trust | DOLP Trust | DOLP Trust |
|  2.956% due 05/10/2041 |  | 8600 | 7726 |
|  DROP Mortgage Trust | DROP Mortgage Trust | DROP Mortgage Trust | DROP Mortgage Trust |
|  4.937% due 10/15/2043 •  |  | 6850 | 6834 |
|  GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust |
|  2.856% due 05/10/2034 |  | 4497 | 4071 |
|  GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust | GSMPS Mortgage Loan Trust |
|  4.193% due 04/25/2036 •  |  | 804 | 694 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  3.961% due 03/25/2047 ~ |  | 846 | 444 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  3.468% due 01/25/2036 ~ |  | 366 | 333 |
|  JP Morgan Chase Commercial Mortgage<br> Securities Trust | JP Morgan Chase Commercial Mortgage<br> Securities Trust | JP Morgan Chase Commercial Mortgage<br> Securities Trust | JP Morgan Chase Commercial Mortgage<br> Securities Trust |
|  4.797% due 06/15/2038 •  |  | 8105 | 7845 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  6.500% due 07/25/2036 |  | 1976 | 602 |
|  KREST Commercial Mortgage<br> Securities Trust | KREST Commercial Mortgage<br> Securities Trust | KREST Commercial Mortgage<br> Securities Trust | KREST Commercial Mortgage<br> Securities Trust |
|  2.558% due 11/05/2044 |  | 5800 | 4577 |
|  Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust | Lehman Mortgage Trust |
|  6.000% due 09/25/2037 |  | 324 | 318 |
|  MortgageIT Mortgage Loan Trust | MortgageIT Mortgage Loan Trust | MortgageIT Mortgage Loan Trust | MortgageIT Mortgage Loan Trust |
|  4.253% due 04/25/2036 •  |  | 398 | 386 |
|  One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust |
|  4.737% due 01/15/2036 •  |  | 4720 | 4559 |
|  Project Cashmere | Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(b) | AUD | 28500 | 19664 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  PRPM Trust | PRPM Trust | PRPM Trust |
|  6.250% due 08/25/2068 þ | 1705 | 1708 |
|  RALI Trust | RALI Trust | RALI Trust |
|  4.173% due 07/25/2036 •  | 638 | 600 |
|  SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
|  4.937% due 05/15/2038 •  | 11000 | 10989 |
|  SLG Office Trust | SLG Office Trust | SLG Office Trust |
|  0.258% due 07/15/2041 ~(a) | 156137 | 1687 |
|  Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust | Structured Asset Mortgage Investments II Trust |
|  4.053% due 03/25/2037 •  | 478 | 187 |
|  SUMIT Mortgage Trust | SUMIT Mortgage Trust | SUMIT Mortgage Trust |
|  2.789% due 02/12/2041 | 10200 | 9252 |
|  2.850% due 02/12/2041 | 1700 | 1495 |
|  Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust |
|  5.139% due 10/25/2046 •  | 239 | 230 |
|  VASA Trust | VASA Trust | VASA Trust |
|  4.687% due 07/15/2039 •  | 10730 | 10544 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.136% due 12/25/2036 ~ | 366 | 333 |
|  4.863% due 03/25/2037 ~ | 364 | 339 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $130,260) | Total Non-Agency Mortgage-Backed Securities (Cost $130,260) | 122379 |
| ASSET-BACKED SECURITIES 9.1% | ASSET-BACKED SECURITIES 9.1% | ASSET-BACKED SECURITIES 9.1% |
| AUTOMOBILE SEQUENTIAL 1.0% | AUTOMOBILE SEQUENTIAL 1.0% | AUTOMOBILE SEQUENTIAL 1.0% |
|  BMW Vehicle Lease Trust | BMW Vehicle Lease Trust | BMW Vehicle Lease Trust |
|  4.430% due 06/26/2028 | 3200 | 3212 |
|  4.980% due 03/25/2027 | 853 | 854 |
|  FHF Issuer Trust | FHF Issuer Trust | FHF Issuer Trust |
|  5.690% due 02/15/2030 | 1431 | 1439 |
|  5.890% due 06/15/2030 | 1574 | 1585 |
|  FHF Trust | FHF Trust | FHF Trust |
|  6.570% due 06/15/2028 | 302 | 303 |
|  Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC |
|  5.490% due 06/25/2027 | 2500 | 2505 |
|  5.570% due 09/25/2029 | 3000 | 3068 |
|  Toyota Auto Loan Extended Note Trust | Toyota Auto Loan Extended Note Trust | Toyota Auto Loan Extended Note Trust |
|  4.930% due 06/25/2036 | 2000 | 2032 |
|  Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust |
|  5.330% due 01/16/2029 | 1986 | 2004 |
|  |  | 17002 |
| CMBS OTHER 0.4% | CMBS OTHER 0.4% | CMBS OTHER 0.4% |
|  GS REFT Issuer Ltd. | GS REFT Issuer Ltd. | GS REFT Issuer Ltd. |
|  5.170% due 04/19/2043 •  | 1200 | 1203 |
|  MF1 LLC | MF1 LLC | MF1 LLC |
|  5.000% due 02/18/2040 •  | 3200 | 3192 |
|  MF1 Ltd. | MF1 Ltd. | MF1 Ltd. |
|  5.027% due 02/19/2037 •  | 2898 | 2901 |
|  |  | 7296 |
| HOME EQUITY OTHER 0.6% | HOME EQUITY OTHER 0.6% | HOME EQUITY OTHER 0.6% |
|  Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust | Bear Stearns Asset-Backed Securities I Trust |
|  4.113% due 08/25/2036 •  | 155 | 152 |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.253% due 05/25/2037 •  | 1470 | 1380 |
|  GSAMP Trust | GSAMP Trust | GSAMP Trust |
|  3.933% due 12/25/2036 •  | 222 | 110 |
|  HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust | HSI Asset Loan Obligation Trust |
|  3.913% due 12/25/2036 •  | 188 | 53 |
|  JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. | JP Morgan Mortgage Acquisition Corp. |
|  2.945% due 10/25/2035 •  | 168 | 167 |
|  Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |
|  3.923% due 01/25/2037 •  | 2367 | 1088 |
|  4.093% due 06/25/2036 •  | 451 | 403 |
|  5.043% due 07/25/2037 •  | 400 | 358 |
|  Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust |
|  3.943% due 11/25/2036 •  | 7440 | 2422 |
|  New Century Home Equity Loan Trust | New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |
|  6.793% due 01/25/2033 •  | 466 | 393 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Option One Mortgage Loan Trust | Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |
|  4.233% due 02/25/2037 •  | 3101 | 1528 |
|  Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust | Renaissance Home Equity Loan Trust |
|  5.285% due 01/25/2037 þ | 3359 | 990 |
|  |  | 9044 |
| HOME EQUITY SEQUENTIAL 0.0% | HOME EQUITY SEQUENTIAL 0.0% | HOME EQUITY SEQUENTIAL 0.0% |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  4.513% due 04/25/2037 •  | 248 | 65 |
| WHOLE LOAN COLLATERAL 0.1% | WHOLE LOAN COLLATERAL 0.1% | WHOLE LOAN COLLATERAL 0.1% |
|  Lehman XS Trust | Lehman XS Trust | Lehman XS Trust |
|  4.968% due 01/25/2036 þ | 2215 | 1977 |
| OTHER ABS 7.0% | OTHER ABS 7.0% | OTHER ABS 7.0% |
|  Anchorage Capital CLO 20 Ltd. | Anchorage Capital CLO 20 Ltd. | Anchorage Capital CLO 20 Ltd. |
|  4.768% due 01/20/2035 •  | 2300 | 2301 |
|  ARES European CLO XIV DAC | ARES European CLO XIV DAC | ARES European CLO XIV DAC |
|  3.063% due 10/21/2034 •  | 1532 | 1772 |
|  ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. | ARES XXVII CLO Ltd. |
|  4.821% due 10/28/2034 •  | 4900 | 4906 |
|  Capital Four CLO IV DAC | Capital Four CLO IV DAC | Capital Four CLO IV DAC |
|  3.175% due 04/15/2038 •  | 6000 | 6914 |
|  College Avenue Student Loans LLC | College Avenue Student Loans LLC | College Avenue Student Loans LLC |
|  4.993% due 12/26/2047 •  | 503 | 504 |
|  CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. | CQS U.S. CLO Ltd. |
|  4.868% due 01/20/2035 •  | 4800 | 4802 |
|  Crown Point CLO 7 Ltd. | Crown Point CLO 7 Ltd. | Crown Point CLO 7 Ltd. |
|  4.898% due 10/20/2031 •  | 155 | 155 |
|  Elevation CLO Ltd. | Elevation CLO Ltd. | Elevation CLO Ltd. |
|  4.798% due 07/25/2034 •  | 4700 | 4705 |
|  4.968% due 01/25/2035 •  | 4900 | 4903 |
|  GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. | GoldenTree Loan Management U.S. CLO 8 Ltd. |
|  4.818% due 10/20/2034 •  | 3420 | 3424 |
|  GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust |
|  2.100% due 05/20/2048 | 6957 | 5404 |
|  Greywolf CLO III Ltd. | Greywolf CLO III Ltd. | Greywolf CLO III Ltd. |
|  4.899% due 04/22/2033 •  | 3213 | 3216 |
|  Harvest CLO XVI DAC | Harvest CLO XVI DAC | Harvest CLO XVI DAC |
|  3.336% due 10/15/2038 •  | 6930 | 8005 |
|  Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. |
|  4.788% due 07/25/2034 •  | 2900 | 2902 |
|  Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. |
|  2.220% due 03/20/2048 | 8827 | 6972 |
|  Mosaic Solar Loan Trust | Mosaic Solar Loan Trust | Mosaic Solar Loan Trust |
|  2.640% due 01/20/2053 | 7717 | 6766 |
|  5.910% due 11/20/2053 | 1292 | 1256 |
|  Mountain View CLO LLC | Mountain View CLO LLC | Mountain View CLO LLC |
|  4.547% due 04/14/2033 •  | 4800 | 4795 |
|  Ocean Trails CLO XI | Ocean Trails CLO XI | Ocean Trails CLO XI |
|  4.698% due 07/20/2034 •  | 4700 | 4701 |
|  Pikes Peak CLO 4 | Pikes Peak CLO 4 | Pikes Peak CLO 4 |
|  4.882% due 07/15/2034 •  | 4900 | 4907 |
|  Service Experts Issuer LLC | Service Experts Issuer LLC | Service Experts Issuer LLC |
|  2.670% due 02/02/2032 | 1424 | 1401 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.240% due 03/15/2056 | 2523 | 2548 |
|  Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC |
|  5.750% due 12/20/2050 | 301 | 294 |
|  Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC | Sunnova Sol IV Issuer LLC |
|  2.790% due 02/22/2049 | 10799 | 9069 |
|  Sunnova Sol V Issuer LLC | Sunnova Sol V Issuer LLC | Sunnova Sol V Issuer LLC |
|  5.400% due 04/30/2058 | 1856 | 1810 |
|  Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC |
|  2.270% due 01/30/2057 | 5284 | 4803 |
|  Switch ABS Issuer LLC | Switch ABS Issuer LLC | Switch ABS Issuer LLC |
|  5.121% due 10/25/2055 | 5800 | 5675 |
|  Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust |
|  5.080% due 06/21/2050 | 2528 | 2529 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **191** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Tikehau CLO IX DAC | Tikehau CLO IX DAC | Tikehau CLO IX DAC |
|  3.246% due 01/20/2037 •  | 1500 | 1734 |
|  Trinitas CLO XIX Ltd. | Trinitas CLO XIX Ltd. | Trinitas CLO XIX Ltd. |
|  4.778% due 10/20/2033 •  | 3477 | 3478 |
|  |  | 116651 |
|  Total Asset-Backed Securities (Cost $162,139) | Total Asset-Backed Securities (Cost $162,139) | 152035 |
| SOVEREIGN ISSUES 9.0% | SOVEREIGN ISSUES 9.0% | SOVEREIGN ISSUES 9.0% |
|  Australia Government Bonds | Australia Government Bonds | Australia Government Bonds |
|  2.750% due 06/21/2035 | 6400 | 3702 |
|  BNG Bank NV | BNG Bank NV | BNG Bank NV |
|  3.500% due 05/19/2028 | 4000 | 3970 |
|  4.750% due 02/01/2030 | 3800 | 3906 |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.250% due 12/01/2034 | 2258 | 1606 |
|  Chile Government International Bonds | Chile Government International Bonds | Chile Government International Bonds |
|  4.850% due 01/22/2029 | 6600 | 6687 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  5.375% due 01/21/2029 | 500 | 496 |
|  6.500% due 01/21/2033 | 500 | 490 |
|  Costa Rica Government International Bonds | Costa Rica Government International Bonds | Costa Rica Government International Bonds |
|  6.001% due 01/16/2036 | 1500 | 1787 |
|  CPPIB Capital, Inc. | CPPIB Capital, Inc. | CPPIB Capital, Inc. |
|  4.300% due 06/02/2034 | 700 | 522 |
|  European Union | European Union | European Union |
|  0.400% due 02/04/2037 | 10500 | 8791 |
|  2.875% due 10/05/2029 | 6500 | 7513 |
|  Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro | Italy Buoni Poliennali Del Tesoro |
|  1.300% due 05/15/2028 (e) | 5748 | 6832 |
|  Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds |
|  2.200% due 03/20/2064 | 318000 | 1389 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.100% due 09/20/2054 | 47250 | 216 |
|  2.300% due 12/20/2054 | 580250 | 2775 |
|  2.400% due 03/20/2055 | 746900 | 3652 |
|  2.800% due 06/20/2055 | 440000 | 2350 |
|  3.200% due 09/20/2055 | 531000 | 3075 |
|  3.400% due 12/20/2055 | 140000 | 843 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 | 740000 | 3874 |
|  2.400% due 03/20/2045 | 417400 | 2324 |
|  2.700% due 09/20/2045 | 37150 | 216 |
|  Japan International Cooperation Agency | Japan International Cooperation Agency | Japan International Cooperation Agency |
|  2.750% due 04/27/2027 | 4500 | 4442 |
|  Korea Housing Finance Corp. | Korea Housing Finance Corp. | Korea Housing Finance Corp. |
|  4.625% due 02/24/2028 | 5000 | 5050 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  3.875% due 05/16/2031 | 2700 | 3048 |
|  4.490% due 05/25/2032 | 3500 | 4029 |
|  Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV |
|  4.000% due 06/01/2028 | 3400 | 3408 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 | 6500 | 1775 |
|  6.150% due 08/12/2032 | 25700 | 7723 |
|  6.950% due 08/12/2031 | 7601 | 2369 |
|  Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. |
|  1.500% due 08/20/2032 | 2600 | 1433 |
|  4.500% due 08/22/2035 | 700 | 445 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  5.625% due 02/22/2036 | 4000 | 4442 |
|  Sweden Government International Bonds | Sweden Government International Bonds | Sweden Government International Bonds |
|  0.125% due 09/09/2030 | 155000 | 14789 |
|  Treasury Corp. of Victoria | Treasury Corp. of Victoria | Treasury Corp. of Victoria |
|  2.000% due 11/20/2037 | 1200 | 560 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.250% due 09/15/2033 |  | 1300 | $— | 724 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  0.500% due 10/22/2061 |  | 700 |  | 219 |
|  3.750% due 03/07/2027 |  | 15600 |  | 20532 |
|  4.375% due 07/31/2054 |  | 8134 |  | 8965 |
| Total Sovereign Issues (Cost $160,703) | Total Sovereign Issues (Cost $160,703) | Total Sovereign Issues (Cost $160,703) |  | 150969 |
| SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% |
| REPURCHASE AGREEMENTS (g) 0.6% | REPURCHASE AGREEMENTS (g) 0.6% | REPURCHASE AGREEMENTS (g) 0.6% | REPURCHASE AGREEMENTS (g) 0.6% | REPURCHASE AGREEMENTS (g) 0.6% |
|  |  |  |  | 9400 |
| U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% | U.S. TREASURY BILLS 0.0% |
|  3.598% due 04/28/2026 (c)(d) | $— | 9 |  | 9 |
| Total Short-Term Instruments<br>(Cost $9,409) | Total Short-Term Instruments<br>(Cost $9,409) | Total Short-Term Instruments<br>(Cost $9,409) |  | 9409 |
| Total Investments in Securities (Cost $2,234,388) | Total Investments in Securities (Cost $2,234,388) | Total Investments in Securities (Cost $2,234,388) |  | 2109215 |
| Total Investments 126.2% (Cost $2,234,388) | Total Investments 126.2% (Cost $2,234,388) | Total Investments 126.2% (Cost $2,234,388) | $— | 2109215 |
|  Financial Derivative<br>Instruments (i)(k) 0.7%<br> (Cost or Premiums, net $21,083) | Financial Derivative<br>Instruments (i)(k) 0.7%<br> (Cost or Premiums, net $21,083) | Financial Derivative<br>Instruments (i)(k) 0.7%<br> (Cost or Premiums, net $21,083) |  | 11239 |
| Other Assets and Liabilities, net (26.9)% | Other Assets and Liabilities, net (26.9)% | Other Assets and Liabilities, net (26.9)% |  | (449318) |
| Net Assets 100.0% | Net Assets 100.0% | Net Assets 100.0% | $— | 1671136 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| µ | All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding. See Note 4, Securities and Other Investments, in the Notes to Financial Statements for more information regarding unfunded loan commitments.  |

---

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Zero coupon security.

(d) Coupon represents a weighted average yield to maturity.

(e) Principal amount of security is adjusted for inflation.

&nbsp;&nbsp;&nbsp;&nbsp;(f) RESTRICTED SECURITIES:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Issuer Description** | Coupon | Maturity<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  Alfa-Bank CJSC | 5.860% | 10/21/2026 | 10/27/2025 | $431 | $431 | 0.03% |
|  Dorchester LLC | 4.610 | 01/04/2027 | 12/10/2025 | 819 | 809 | 0.05 |
|  Fennovoima OYJ | 0.600 | 07/10/2028 | 07/16/2025 | 333 | 333 | 0.02 |
|  Fennovoima OYJ | 4.477 | 07/10/2028 | 07/16/2025 | 636 | 639 | 0.04 |
|  Fennovoima OYJ | 4.461 | 07/10/2028 | 07/16/2025 | 304 | 304 | 0.02 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516 | 0.16% |

---

192 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(g) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.690% | 03/31/2026 | 04/01/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | U.S. Treasury Notes 1.125% due 02/15/2031 | $(9600) | $9400 | $9401 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9600) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9401 |

---

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing Rate<sup>(2)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOM | 3.780% | 03/11/2026 | 04/06/2026 | $(3057) | $(3064) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171791) | (172259) |
|  CIB | 3.780 | 03/11/2026 | 04/09/2026 | (16398) | (16434) |
|  DEU | 3.770 | 03/03/2026 | 04/07/2026 | (8754) | (8781) |
|  JPS | 3.760 | 03/13/2026 | 04/17/2026 | (2926) | (2932) |
|  | 3.760 | 03/23/2026 | 04/06/2026 | (583) | (583) |
|  | 3.770 | 03/24/2026 | 04/07/2026 | (8601) | (8608) |
|  NOM | 3.760 | 02/19/2026 | 04/02/2026 | (8131) | (8166) |
|  RCY | 3.770 | 02/06/2026 | 04/20/2026 | (28014) | (28172) |
|  JPS | 3.760 | 03/10/2026 | 04/21/2026 | (1104) | (1107) |
|  | 3.760 | 03/12/2026 | 04/23/2026 | (2239) | (2243) |
|  | 3.770 | 02/27/2026 | 04/06/2026 | (1555) | (1560) |
|  Total Reverse Repurchase Agreements |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253909) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing Rate<sup>(2)</sup> | Borrowing Date | Maturity Date | Amount<br>Borrowed<sup>(2)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(3)</sup> |
|  BCY | 3.780% | 03/16/2026 | 04/06/2026 | $(1165) | $(1167) |
|  UBS | 3.770 | 02/24/2026 | 04/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5300) | (5320) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6487) |

---

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (0.2)% |  |  |  |  |  |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.500% | 06/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | $(1823) | $(1830) |
| &nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.000 | 04/01/2056 | 1900 | (1892) | (1874) |
|  Total Short Sales (0.2)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3715) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3704) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions(3) | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(4)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOM | $0 | $(3064) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(3064) | $2967 | $(97) |
|  BOS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9401 | 0 | 0 | 9401 | (9600) | (199) |
|  BSN | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172259) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172259) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1134) |
|  CIB | 0 | (16434) | 0 | (16434) | 16542 | 108 |
|  DEU | 0 | (8781) | 0 | (8781) | 8389 | (392) |
|  JPS | 0 | (12123) | 0 | (12123) | 16902 | 4779 |
|  NOM | 0 | (8166) | 0 | (8166) | 8110 | (56) |
|  RCY | 0 | (28172) | 0 | (28172) | 27777 | (395) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **193** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup>** | **Payable for<br>Reverse<br>Repurchase<br>Agreements** | **Payable for<br>Sale-Buyback<br>Transactions(3)** | **Total<br>Borrowings and<br>Other Financing<br>Transactions** | **Collateral<br>Pledged/(Received)** | **Net Exposure<sup>(4)</sup>** |
|  UBS | $0 | $(4910) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4910) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4910) |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  BCY | 0 | 0 | (1167) | (1167) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 | (22) |
|  UBS | 0 | 0 | (5320) | (5320) | 5335 | 15 |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9401 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253909) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6487) |  |  |  |

---

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |
|  U.S. Treasury Obligations | $0 | $(253909) | $0 | $0 | $(253909) |
|  Total | $0 | $(253909) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(253909) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (6487) | 0 | 0 | (6487) |
|  Total | $0 | $(6487) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $0 | $(6487) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260396) | $0 | $0 | $(260396) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | Payable for reverse repurchase agreements and sale-buyback financing transactions  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260396) |

---

(h) Securities with an aggregate market value of $258,293 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(295629) at a weighted average interest rate of 4.185%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(3)</sup> Payable for sale-buyback transactions includes $(13) of deferred price drop. 

<sup>(4)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### WRITTEN OPTIONS:

#### FUTURE STYLED OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS<sup>(1)</sup>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - EUREX Euro-Bund 10-Year Bond April Futures | EUR | 125.500 | 04/24/2026 | 10 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | $(4) | $(11) |
|  Call - EUREX Euro-Bund 10-Year Bond April Futures |  | 128.000 | 04/24/2026 | 10 | 10 | (4) | (1) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) |

---

#### OPTIONS ON EXCHANGE-TRADED FUTURE CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $110.000 | 04/24/2026 | 22 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | $(7) | $(8) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | 113.000 | 04/24/2026 | 22 | 22 | (5) | (3) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) |

---

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SONIA March Futures  | 06/2027 | 51 | $16140 | $23 | $21 | $0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 255 | 18958 | (106) | 178 | 0 |
|  Long Guilt June Futures  | 06/2026 | 283 | 32884 | (1645) | 247 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 240 | 49787 | (296) | 19 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 2212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239293 | (3117) | 305 | (3) |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 494 | 54857 | (809) | 116 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5950) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |

---

194 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Bund June Futures  | 06/2026 | 337 | $(48842) | $1306 | $0 | $(354) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34736) | 793 | 0 | (91) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 54 | (6149) | 168 | 0 | (20) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 369 | (43012) | 1442 | 0 | (81) |
|  |  |  |  | $3709 | $0 | $(546) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2241) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(549) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(3)</sup> | **Notional<br>Amount<sup>(4)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(5)</sup> | Asset | Liability |
|  AT&T, Inc. | 1.000% | Quarterly | 06/20/2028 | 0.395% | $8600 | $138 | $(23) | $115 | $3 | $0 |
|  Goldman Sachs Group, Inc. | 1.000 | Quarterly | 06/20/2026 | 0.312 | 3500 | 22 | (15) | 7 | 0 | 0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | 6500 | 35 | (23) | 12 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2029 | 0.517 | 600 | 12 | (2) | 10 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(5)</sup>** | **Variation Margin** | **Variation Margin** |
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(5)</sup>** | Asset | Liability |
|  CDX.IG-45 5-Year Index | 1.000% | Quarterly | 12/20/2030 | $10800 | $203 | $(8) | $195 | $21 | $0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 15225 | 255 | 13 | 268 | 27 | 0 |
|  CDX.iTraxx Crossover 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 6000 | 136 | (32) | 104 | 7 | 0 |
|  CDX.iTraxx Europe Senior 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 27900 | 707 | (271) | 436 | 40 | 0 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(298) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Variation Margin | Variation Margin |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value** | Asset | Liability |
| Receive<sup>(6)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000% | Annual | 09/16/2036 |  | 15700 | $513 | $309 | $822 | $0 | $(63) |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 0.900 | Annual | 03/15/2052 |  | 1800 | 178 | 1211 | 1389 | 0 | (4) |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 03/18/2056 |  | 90 | 0 | 6 | 6 | 0 | 0 |
| Receive<sup>(6)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 09/16/2056 |  | 1740 | 85 | 35 | 120 | 0 | (8) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 06/18/2032 |  | 3440000 | 596 | 55 | 651 | 0 | (52) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 05/31/2028 | $— | 45640 | 0 | 131 | 131 | 0 | (21) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 |  | 30700 | (572) | 388 | (184) | 0 | (29) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 |  | 2200 | (4) | (17) | (21) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 |  | 1800 | 0 | (8) | (8) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 |  | 3700 | 0 | (18) | (18) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 |  | 4000 | 0 | (22) | (22) | 0 | (4) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2031 |  | 5300 | (30) | 59 | 29 | 0 | (6) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 |  | 800 | (3) | 1 | (2) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2032 |  | 29270 | 3017 | 105 | 3122 | 0 | (32) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 |  | 500 | (1) | (5) | (6) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 |  | 2500 | (7) | (14) | (21) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.836 | Annual | 05/02/2035 |  | 5800 | (41) | 52 | 11 | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 |  | 1600 | 3 | 22 | 25 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 |  | 1500 | (1) | 17 | 16 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 |  | 2671 | 7 | 18 | 25 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 |  | 1100 | (3) | 31 | 28 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 |  | 2200 | (4) | 25 | 21 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 |  | 2200 | (5) | 21 | 16 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 |  | 2900 | (86) | 53 | (33) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/21/2052 |  | 42790 | 8299 | 8702 | 17001 | 123 | 0 |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.083 | Annual | 11/15/2053 |  | 700 | 0 | 9 | 9 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 |  | 52175 | 1594 | 4309 | 5903 | 186 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/18/2054 |  | 17100 | 246 | 1625 | 1871 | 62 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **195** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250% | Annual | 06/18/2055 | $— | 5880 | $546 | $383 | $929 | $22 | $0 |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 |  | 10200 | 167 | 72 | 239 | 39 | 0 |
| Pay | 1-Year BRL-CDI | 11.407 | Maturity | 01/04/2027 |  | 108900 | 0 | (945) | (945) | 29 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 |  | 11700 | (142) | (104) | (246) | 88 | 0 |
| Pay<sup>(6)</sup> | 6-Month AUD-BBR-BBSW | 4.750 | Semi-Annual | 12/20/2033 |  | 2800 | (5) | (17) | (22) | 12 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 |  | 8400 | 41 | (248) | (207) | 69 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 03/19/2035 |  | 6200 | (7) | (315) | (322) | 52 | 0 |
| Pay | 6-Month EUR-EURIBOR | 1.000 | Annual | 05/18/2027 |  | 16800 | (63) | (299) | (362) | 9 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.760 | Annual | 01/03/2029 |  | 1300 | (3) | 4 | 1 | 0 | (3) |
| Receive | 6-Month EUR-EURIBOR | 2.300 | Annual | 09/25/2029 |  | 1900 | (3) | 18 | 15 | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.050 | Annual | 10/05/2029 |  | 1300 | 0 | 26 | 26 | 0 | (4) |
| Receive | 6-Month EUR-EURIBOR | 2.056 | Annual | 10/05/2029 |  | 2000 | 0 | 40 | 40 | 0 | (6) |
| Receive | 6-Month EUR-EURIBOR | 2.063 | Annual | 10/05/2029 |  | 3200 | 0 | 63 | 63 | 0 | (10) |
| Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 |  | 1200 | (3) | 9 | 6 | 0 | (5) |
| Pay | 6-Month EUR-EURIBOR | 2.410 | Annual | 11/05/2034 |  | 1000 | (3) | (49) | (52) | 8 | 0 |
| Pay | 6-Month EUR-EURIBOR | 2.610 | Annual | 03/24/2035 |  | 410 | (1) | (15) | (16) | 3 | 0 |
| Pay<sup>(6)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 |  | 50990 | (395) | (1460) | (1855) | 450 | 0 |
| Receive<sup>(6)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 |  | 13900 | 260 | 90 | 350 | 0 | (155) |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2033 |  | 1200 | 4 | (4) | 0 | 0 | (2) |
| Receive | CAONREPO | 3.750 | Semi-Annual | 12/20/2033 |  | 1100 | 0 | (40) | (40) | 0 | (2) |
| Receive | CAONREPO | 2.740 | Semi-Annual | 06/01/2034 |  | 1200 | 0 | 21 | 21 | 0 | (2) |
| Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 |  | 1400 | (2) | 7 | 5 | 0 | (3) |
|  |  |  |  |  |  |  | $14172 | $14337 | $28509 | $1155 | $(445) |
|  Total Swap Agreements | Total Swap Agreements |  |  |  |  |  | $15680 | $13976 | $29656 | $1253 | $(445) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | **Total** | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | **Total** |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | **Total** | Written<br>Options | Futures | Swap<br>Agreements | **Total** |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(549) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(445) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1017) |

---

(j) Securities with an aggregate market value of $12,277 and cash of $19,826 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> Future styled option variation margin asset of $10 and liability of $(0) is outstanding at period end. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> 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. 

<sup>(6)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(k) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Delivered | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Delivered | **Currency to<br>be Received** | Asset | Liability |
|  AZD | 04/2026 | CAD | 28836 | $21051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | $0 |
|  | 04/2026 | SGD | 18 | 14 | 0 | 0 |

---

---

| | | |
|:---|:---|:---|
| **196** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  BOA | 04/2026 | 3534 | $675 | $0 | $(7) |
|  | 04/2026 | 1440 | 1674 | 10 | 0 |
|  | 04/2026 | 86493 | 921 | 8 | 0 |
|  | 04/2026 | 1355 | 366 | 1 | 0 |
|  | 04/2026 | 3944 | 3086 | 18 | 0 |
|  | 04/2026 | $677 | 3534 | 5 | 0 |
|  | 04/2026 | 1180 | 885 | 0 | (8) |
|  | 04/2026 | 1843 | 171688 | 1 | (24) |
|  | 04/2026 | 209 | 306232 | 0 | (6) |
|  | 04/2026 | 119 | 2187 | 3 | 0 |
|  | 04/2026 | 2048 | 7566 | 0 | (10) |
|  | 06/2026 | 14538 | $811 | 5 | 0 |
|  | 06/2026 | $675 | 3581 | 7 | 0 |
|  BPS | 04/2026 | 585 | $416 | 13 | 0 |
|  | 04/2026 | 102539 | 19487 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309) |
|  | 04/2026 | 281585 | 2992 | 8 | 0 |
|  | 04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3399052 | 2280 | 25 | (5) |
|  | 04/2026 | 527 | 142 | 0 | 0 |
|  | 04/2026 | 88726 | 2769 | 76 | 0 |
|  | 04/2026 | $19603 | 102539 | 192 | 0 |
|  | 04/2026 | 5048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85432410 | 0 | (15) |
|  | 04/2026 | 6072 | 566173 | 13 | (73) |
|  | 04/2026 | 3052 | 4558845 | 5 | (25) |
|  | 04/2026 | 499 | 1798 | 0 | (15) |
|  | 04/2026 | 1 | 19 | 0 | 0 |
|  | 04/2026 | 1692 | 54102 | 0 | (4) |
|  | 04/2026 | 18804 | $1110 | 1 | 0 |
|  | 05/2026 | 225182 | 2380 | 0 | (10) |
|  | 05/2026 | 16743 | 510 | 1 | 0 |
|  | 05/2026 | 32481 | 1008 | 0 | (5) |
|  | 05/2026 | $760 | 3989 | 6 | 0 |
|  | 05/2026 | 1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20228634 | 3 | 0 |
|  | 06/2026 | 978 | 16458232 | 0 | (10) |
|  | 07/2026 | 18180 | 97665 | 294 | 0 |
|  BRC | 04/2026 | 39 | $28 | 0 | 0 |
|  | 04/2026 | 117 | 12 | 0 | 0 |
|  | 04/2026 | 132602 | 14615 | 607 | 0 |
|  | 04/2026 | 524319 | 11549 | 0 | (107) |
|  | 04/2026 | $1131 | 20220 | 0 | (4) |
|  | 04/2026 | 372 | 1340 | 0 | (11) |
|  | 04/2026 | 18782 | 862213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | 0 |
|  | 04/2026 | 2172 | 35537 | 0 | (74) |
|  | 05/2026 | 66634 | $1429 | 0 | (10) |
|  | 05/2026 | $28 | 39 | 0 | 0 |
|  BSH | 04/2026 | 42296 | 31773 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241) |
|  | 04/2026 | 725 | 115788 | 4 | 0 |
|  | 04/2026 | 9763 | 16912 | 0 | (45) |
|  | 04/2026 | 4313 | 15600 | 0 | (111) |
|  | 05/2026 | 31773 | $42295 | 242 | 0 |
|  | 05/2026 | 115439 | 725 | 0 | (4) |
|  | 05/2026 | 16912 | 9774 | 46 | 0 |
|  | 01/2027 | 2803 | 826 | 31 | 0 |
|  CBK | 04/2026 | 2908 | 2039 | 33 | 0 |
|  | 04/2026 | 833 | 121 | 0 | 0 |
|  | 04/2026 | 2737 | 3670 | 47 | 0 |
|  | 04/2026 | 660123 | 7063 | 92 | 0 |
|  | 04/2026 | 8 | 0 | 0 | 0 |
|  | 04/2026 | $17295 | 1593889 | 14 | (423) |
|  | 04/2026 | 1261 | 198700 | 0 | (9) |
|  | 04/2026 | 180 | 641 | 0 | (7) |
|  | 04/2026 | 2 | 59 | 0 | 0 |
|  | 05/2026 | 7773 | $2302 | 73 | 0 |
|  | 06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855673 | 170 | 2 | 0 |
|  | 06/2026 | $713 | 11982817 | 0 | (8) |
|  | 06/2026 | 4144 | 74094 | 0 | (33) |
|  | 07/2026 | 14188 | $4122 | 66 | 0 |
|  | 09/2026 | $244 | 4364 | 0 | (4) |
|  | 01/2027 | 7162 | $2101 | 73 | 0 |
|  DUB | 04/2026 | 245204 | 2596 | 11 | (4) |
|  | 04/2026 | 10 | 0 | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **197** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $26830 | 39111 | $154 | $0 |
|  | 04/2026 | 2784 | 263006 | 20 | (7) |
|  | 04/2026 | 22637 | 28916 | 0 | (146) |
|  | 04/2026 | 1059 | 34577 | 0 | (9) |
|  | 05/2026 | 39111 | $26820 | 0 | (155) |
|  | 05/2026 | 28852 | 22637 | 145 | 0 |
|  | 06/2026 | 34507 | 1059 | 6 | 0 |
|  | 06/2026 | 13140 | 413 | 4 | 0 |
|  FAR | 04/2026 | 13412 | 9505 | 252 | 0 |
|  | 04/2026 | 1174 | 1521 | 53 | 0 |
|  | 04/2026 | 29921 | 40435 | 831 | 0 |
|  | 04/2026 | 72491 | 464 | 7 | 0 |
|  | 04/2026 | $1472 | 1173 | 0 | (5) |
|  | 04/2026 | 903 | 144166 | 5 | 0 |
|  | 04/2026 | 414 | 1492 | 0 | (12) |
|  | 04/2026 | 122 | 156 | 0 | (1) |
|  | 05/2026 | 1168 | $1472 | 5 | 0 |
|  | 05/2026 | 143731 | 903 | 0 | (5) |
|  | 05/2026 | 156 | 122 | 1 | 0 |
|  | 06/2026 | $1020 | 17766 | 0 | (35) |
|  | 07/2026 | 3578 | $1058 | 36 | 0 |
|  | 09/2026 | $198 | 3496 | 0 | (6) |
|  GLM | 04/2026 | 107018 | $20476 | 0 | (185) |
|  | 04/2026 | 17235 | 189 | 7 | 0 |
|  | 04/2026 | 16525 | 508 | 6 | 0 |
|  | 04/2026 | $20489 | 107018 | 171 | 0 |
|  | 04/2026 | 97 | 1646181 | 0 | 0 |
|  | 04/2026 | 620 | 11430 | 18 | 0 |
|  | 04/2026 | 1095 | 35798 | 0 | (9) |
|  | 06/2026 | 7705551 | $456 | 2 | 0 |
|  | 06/2026 | 2568 | 144 | 2 | 0 |
|  | 06/2026 | 19238 | 587 | 0 | 0 |
|  | 06/2026 | $2020 | 10750 | 28 | 0 |
|  | 06/2026 | 746 | 12581534 | 0 | (6) |
|  | 06/2026 | 3020 | 52643 | 0 | (101) |
|  | 07/2026 | 1830 | 9836 | 30 | 0 |
|  IND | 04/2026 | 77873 | $91951 | 1942 | 0 |
|  JPM | 04/2026 | 2704 | 1982 | 38 | 0 |
|  | 04/2026 | 136862 | 1456 | 10 | 0 |
|  | 04/2026 | 2999024 | 1991 | 7 | (11) |
|  | 04/2026 | 1897 | 510 | 1 | (1) |
|  | 04/2026 | 25111 | 19925 | 395 | 0 |
|  | 04/2026 | $1456 | 137097 | 3 | 0 |
|  | 04/2026 | 1735 | 2625298 | 11 | 0 |
|  | 04/2026 | 10119 | 181395 | 10 | (20) |
|  | 04/2026 | 5144 | 85898 | 0 | (75) |
|  | 04/2026 | 18462 | $1087 | 1 | (3) |
|  | 06/2026 | 14089 | 785 | 4 | 0 |
|  MBC | 04/2026 | 578 | 407 | 9 | 0 |
|  | 04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10515202 | 619 | 0 | (1) |
|  | 04/2026 | 79861 | 514 | 10 | 0 |
|  | 04/2026 | 5875560 | 4015 | 108 | 0 |
|  | 04/2026 | 5477 | 561 | 1 | (5) |
|  | 04/2026 | 3482 | 2048 | 47 | 0 |
|  | 04/2026 | 5263 | 169 | 9 | 0 |
|  | 04/2026 | $402 | 64249 | 3 | 0 |
|  | 04/2026 | 912 | 8885 | 5 | 0 |
|  | 05/2026 | 64055 | $402 | 0 | (3) |
|  | 05/2026 | 135500 | 14190 | 0 | (147) |
|  | 05/2026 | $660 | 1009041 | 11 | 0 |
|  | 05/2026 | 490 | 4790 | 5 | 0 |
|  | 06/2026 | 1571 | $87 | 0 | 0 |
|  | 06/2026 | $619 | 10540065 | 1 | 0 |
|  MYI | 04/2026 | 638 | $180 | 8 | 0 |
|  | 05/2026 | 1457 | 150 | 0 | (1) |
|  NGF | 04/2026 | 3287 | 342 | 2 | 0 |
|  SCX | 04/2026 | 57011 | 365 | 6 | 0 |
|  | 04/2026 | 13430 | 8029 | 312 | 0 |
|  | 04/2026 | 2915 | 92 | 3 | 0 |

---

---

| | | |
|:---|:---|:---|
| **198** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/**<br> (Depreciation) | **Unrealized Appreciation/**<br> (Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $22809 | 31579 | $0 | $(107) |
|  | 04/2026 | 1221 | 110667 | 0 | (53) |
|  | 05/2026 | 31535 | $22809 | 107 | 0 |
|  | 06/2026 | $639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10743239 | 0 | (7) |
|  | 07/2026 | 2058 | 2943576 | 0 | (95) |
|  SOG | 04/2026 | 6220 | $7363 | 173 | 0 |
|  | 04/2026 | 314451 | 2021 | 40 | 0 |
|  | 04/2026 | $98705 | 85533 | 158 | 0 |
|  | 05/2026 | 85533 | $98859 | 0 | (155) |
|  | 07/2026 | 6417 | 1895 | 60 | 0 |
|  SSB | 04/2026 | 21628 | 15391 | 469 | 0 |
|  | 04/2026 | 369 | 2 | 0 | 0 |
|  UAG | 04/2026 | 1307 | 355 | 3 | 0 |
|  | 04/2026 | $3006 | 10863 | 0 | (80) |
|  | 06/2026 | 2003 | $112 | 1 | 0 |
|  | 06/2026 | $1509 | 26333 | 0 | (49) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8365 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3116) |

---

#### PURCHASED OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| CBK Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.500% | 07/13/2026 | 60700 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | $88 |
| DUB Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.500 | 07/20/2026 | 63100 | 124 | 96 |
| NGF Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.500 | 07/27/2026 | 75000 | 140 | 120 |
|  |  |  |  |  |  | $398 | $304 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 |

---

#### WRITTEN OPTIONS:

#### CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Buy/Sell<br>Protection | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC iTraxx Europe 44 5-Year | Sell | 1.050% | 05/20/2026 | 2200 | $(4) | $(2) |
| GST | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.850 | 05/20/2026 | 4700 | (5) | (4) |
|  | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.800 | 06/17/2026 | 8000 | (9) | (11) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) |

---

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA | Put - OTC USD versus KRW | KRW | 1350.000 | 07/09/2026 | 1338 | $(5) | $(1) |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/13/2026 | 2373 | (5) | (2) |
| MBC | Put - OTC USD versus KRW |  | 1350.000 | 07/09/2026 | 3448 | (11) | (3) |
|  | Put - OTC USD versus KRW |  | 1350.000 | 07/10/2026 | 3439 | (9) | (3) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.620% | 04/20/2026 | 1100 | $(4) | $(1) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/20/2026 | 1100 | (4) | (6) |
| CBK Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.000 | 07/13/2026 | 60700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52) | (32) |
| Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.250 | 07/13/2026 | 60700 | (67) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53) |
| DUB Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.080 | 07/20/2026 | 63100 | (48) | (43) |
| Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.290 | 07/20/2026 | 63100 | (76) | (64) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **199** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Floating Rate Index** | **Pay/Receive<br>Floating Rate** | **Exercise<br>Rate** | **Expiration<br>Date** | **Notional<br>Amount<sup>(1)</sup>** | **Premiums<br>(Received)** | **Market<br>Value** |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600% | 04/16/2026 | 2000 | $(6) | $(2) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 2000 | (6) | (10) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 2100 | (7) | (6) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 2100 | (7) | (6) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.669 | 04/30/2026 | 3800 | (14) | (11) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.069 | 04/30/2026 | 3800 | (14) | (12) |
| MYC Call - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Receive | 2.540 | 04/16/2026 | 800 | (2) | 0 |
| Put - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Pay | 2.920 | 04/16/2026 | 800 | (2) | (3) |
| NGF Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.060 | 07/27/2026 | 75000 | (53) | (53) |
| Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.280 | 07/27/2026 | 75000 | (89) | (79) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(451) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(381) |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | $94.375 | 06/04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | $(8) | $(4) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.375 | 06/04/2026 | 1200 | (7) | (6) |
|  |  |  |  |  | $(15) | $(10) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(514) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(4)</sup> | Swap Agreements,<br>at Value<sup>(4)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BOA | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | Quarterly | 12/20/2030 | EUR 4,700 | $1076 | $(135) | $941 | $0 |
| BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 7730 | 1723 | (176) | 1547 | 0 |
| CBK | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 1700 | 386 | (46) | 340 | 0 |
| GST | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 1100 | 225 | (5) | 220 | 0 |
| JPM | CDX.iTraxx Crossover 42 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2029 | 288 | 61 | (9) | 52 | 0 |
|  | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 9110 | 2001 | (178) | 1823 | 0 |
| MYC | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2030 | 290 | 67 | (9) | 58 | 0 |
|  |  |  |  |  |  | $5539 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558) | $4981 | $0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5539 | $(558) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4981 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(5)</sup> |
|  AZD | $321 | $0 | $0 | $321 | $0 | $0 | $0 | $0 | $321 | $(290) | $31 |
|  BOA | 58 | 0 | 941 | 999 | (55) | (12) | 0 | (67) | 932 | (1050) | (118) |
|  BPS | 637 | 0 | 1547 | 2184 | (471) | 0 | 0 | (471) | 1713 | (1310) | 403 |
|  BRC | 859 | 0 | 0 | 859 | (206) | 0 | 0 | (206) | 653 | (540) | 113 |
|  BSH | 323 | 0 | 0 | 323 | (401) | 0 | 0 | (401) | (78) | 0 | (78) |
|  CBK | 400 | 88 | 340 | 828 | (484) | (85) | 0 | (569) | 259 | (327) | (68) |
|  DUB | 340 | 96 | 0 | 436 | (321) | (107) | 0 | (428) | 8 | 0 | 8 |
|  FAR | 1190 | 0 | 0 | 1190 | (64) | 0 | 0 | (64) | 1126 | (1337) | (211) |
|  GLM | 264 | 0 | 0 | 264 | (301) | (47) | 0 | (348) | (84) | 130 | 46 |
|  GSC | 0 | 0 | 0 | 0 | 0 | (10) | 0 | (10) | (10) | 0 | (10) |
|  GST | 0 | 0 | 220 | 220 | 0 | (15) | 0 | (15) | 205 | 0 | 205 |
|  IND | 1942 | 0 | 0 | 1942 | 0 | 0 | 0 | 0 | 1942 | (2660) | (718) |
|  JPM | 480 | 0 | 1875 | 2355 | (110) | 0 | 0 | (110) | 2245 | (1988) | 257 |
|  MBC | 209 | 0 | 0 | 209 | (156) | (6) | 0 | (162) | 47 | 0 | 47 |
|  MYC | 0 | 0 | 58 | 58 | 0 | (3) | 0 | (3) | 55 | 0 | 55 |
|  MYI | 8 | 0 | 0 | 8 | (1) | 0 | 0 | (1) | 7 | 0 | 7 |
|  NGF | 2 | 120 | 0 | 122 | 0 | (132) | 0 | (132) | (10) | 0 | (10) |
|  SCX | 428 | 0 | 0 | 428 | (262) | 0 | 0 | (262) | 166 | 0 | 166 |
|  SOG | 431 | 0 | 0 | 431 | (155) | 0 | 0 | (155) | 276 | (270) | 6 |
|  SSB | 469 | 0 | 0 | 469 | 0 | 0 | 0 | 0 | 469 | (580) | (111) |
|  UAG | 4 | 0 | 0 | 4 | (129) | 0 | 0 | (129) | (125) | 0 | (125) |
|  Total Over the Counter | $8365 | $304 | $4981 | $13650 | $(3116) | $(417) | $0 | $(3533) |  |  |  |

---

200 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

(l) Securities with an aggregate market value of $130 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of March 31, 2026.

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate<br>Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $886 | $886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 98 | 0 | 0 | 1155 | 1253 |
|  | $0 | $98 | $0 | $0 | $2041 | $2139 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $8365 | $0 | $8365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | 304 | 304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 4981 | 0 | 0 | 0 | 4981 |
|  | $0 | $4981 | $0 | $8365 | $304 | $13650 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5079 | $0 | $8365 | $2345 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15789 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $23 | $23 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 549 | 549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 445 | 445 |
|  | $0 | $0 | $0 | $0 | $1017 | $1017 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $3116 | $0 | $3116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 17 | 0 | 9 | 391 | 417 |
|  | $0 | $17 | $0 | $3125 | $391 | $3533 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $17 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408 | $4550 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate<br>Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $970 | $970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 4392 | 4392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 272 | 0 | 0 | 7267 | 7539 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12629 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12901 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 201

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return ESG Fund | (Cont.) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | **Commodity<br>Contracts** | **Credit<br>Contracts** | **Equity<br>Contracts** | **Foreign<br>Exchange<br>Contracts** | **Interest<br>Rate<br>Contracts** | **Total** |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(11172) | $0 | $(11172) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (384) | (686) | (1070) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 54 | 0 | 54 | 2147 | 2255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | 0 | 0 | 0 | 579 |
|  | $0 | $633 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11502) | $1461 | $(9408) |
|  | $0 | $905 | $0 | $(11502) | $14090 | $3493 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $(2) | $(2) |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (5619) | (5619) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (455) | 0 | 0 | 2146 | 1691 |
|  | $0 | $(455) | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3475) | $(3930) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $6872 | $0 | $6872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | (278) | (278) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | (3) | 0 | 21 | 323 | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (510) | 0 | 0 | 0 | (510) |
|  | $0 | $(513) | $0 | $6893 | $45 | $6425 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(968) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6893 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3430) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495 |

---

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value<br>at 03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $0 | $0 | $2916 | $2916 |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | 0 | 258956 | 0 | 258956 |
| &nbsp;&nbsp; Industrials | 0 | 164706 | 0 | 164706 |
| &nbsp;&nbsp; Utilities | 0 | 115865 | 0 | 115865 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; California | 0 | 3617 | 0 | 3617 |
| &nbsp;&nbsp; Michigan | 0 | 2251 | 0 | 2251 |
| &nbsp;&nbsp; New York | 0 | 1785 | 0 | 1785 |
|  U.S. Government Agencies | 0 | 707768 | 0 | 707768 |
|  U.S. Treasury Obligations | 0 | 416559 | 0 | 416559 |
|  Non-Agency Mortgage-Backed Securities | 0 | 102715 | 19664 | 122379 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 17002 | 0 | 17002 |
| &nbsp;&nbsp; CMBS Other | 0 | 7296 | 0 | 7296 |
| &nbsp;&nbsp; Home Equity Other | 0 | 9044 | 0 | 9044 |
| &nbsp;&nbsp; Home Equity Sequential | 0 | 65 | 0 | 65 |
| &nbsp;&nbsp; Whole Loan Collateral | 0 | 1977 | 0 | 1977 |
| &nbsp;&nbsp; Other ABS | 0 | 116651 | 0 | 116651 |
|  Sovereign Issues | 0 | 150969 | 0 | 150969 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 9400 | 0 | 9400 |
| &nbsp;&nbsp; U.S. Treasury Bills | 0 | 9 | 0 | 9 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086635 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22580 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109215 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value<br>at 03/31/2026 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(3704) | $0 | $(3704) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 446 | 1693 | 0 | 2139 |
|  Over the counter | 0 | 13650 | 0 | 13650 |
|  | $446 | $15343 | $0 | $15789 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (366) | (651) | 0 | (1017) |
|  Over the counter | 0 | (3533) | 0 | (3533) |
|  | $(366) | $(4184) | $0 | $(4550) |
|  Total Financial Derivative Instruments | $80 | $11159 | $0 | $11239 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094090 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22580 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116750 |

---

202 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/<br>Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/<br>(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation) <sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026 <sup>(1)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $408 | $2971 | $(489) | $1 | $49 | $(24) | $0 | $0 | $2916 | $(7) |
| &nbsp;&nbsp; Non-Agency Mortgage-Backed Securities | 0 | 18635 | 0 | 0 | 0 | 1029 | 0 | 0 | 19664 | 1029 |
|  Totals | $408 | $21606 | $(489) | $1 | $49 | $1005 | $0 | $0 | $22580 | $1022 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | **Valuation<br>Technique** | **Unobservable<br>Inputs** | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| **Category and Subcategory** | Ending<br>Balance<br>at 03/31/2026 | **Valuation<br>Technique** | **Unobservable<br>Inputs** | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Loan Participations and Assignments | $2107 | Discounted Cash Flow | Discount Rate | 4.270 - 6.790 | 5.093 |
|  | 809 | Recent Transaction | Purchase Price | 100.000 |  |
|  Non-Agency Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19664 | Recent Transaction | Purchase Price | 100.000 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22580 |  |  |  |  |

---

<sup>(1)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **203** |

---

------

---

| | |
|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund II |

---

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 135.8% | INVESTMENTS IN SECURITIES 135.8% | INVESTMENTS IN SECURITIES 135.8% |
| CORPORATE BONDS & NOTES 25.0% | CORPORATE BONDS & NOTES 25.0% | CORPORATE BONDS & NOTES 25.0% |
| BANKING & FINANCE 9.9% | BANKING & FINANCE 9.9% | BANKING & FINANCE 9.9% |
|  Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. |
|  3.950% due 01/15/2027 | 1500 | 1495 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  6.848% due 01/03/2030 •  | 600 | 626 |
|  American Express Co. | American Express Co. | American Express Co. |
|  4.918% due 07/20/2033 •  | 200 | 200 |
|  5.016% due 04/25/2031 •  | 100 | 102 |
|  5.085% due 01/30/2031 •  | 800 | 814 |
|  5.667% due 04/25/2036 •  | 100 | 103 |
|  American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP |
|  4.950% due 06/15/2030 | 200 | 201 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  3.375% due 10/15/2026 | 800 | 795 |
|  3.950% due 03/15/2029 | 200 | 197 |
|  5.800% due 11/15/2028 | 800 | 825 |
|  ARES Strategic Income Fund | ARES Strategic Income Fund | ARES Strategic Income Fund |
|  4.850% due 01/15/2029 | 400 | 387 |
|  5.450% due 09/09/2028 | 400 | 396 |
|  Arthur J Gallagher & Co. | Arthur J Gallagher & Co. | Arthur J Gallagher & Co. |
|  4.850% due 12/15/2029 | 300 | 303 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  5.516% due 03/25/2027 | 800 | 807 |
|  5.620% due 05/08/2026 | 300 | 300 |
|  Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC |
|  5.125% due 04/10/2030 | 500 | 503 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.948% due 07/22/2028 •  | 800 | 805 |
|  5.933% due 09/15/2027 •  | 300 | 302 |
|  BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. |
|  6.150% due 04/02/2030 | 400 | 407 |
|  Blackstone Reg Finance Co. LLC | Blackstone Reg Finance Co. LLC | Blackstone Reg Finance Co. LLC |
|  4.300% due 11/03/2030 | 600 | 591 |
|  Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund |
|  5.250% due 09/04/2029 | 300 | 294 |
|  Block Financial LLC | Block Financial LLC | Block Financial LLC |
|  5.375% due 09/15/2032 | 900 | 874 |
|  Blue Owl Finance LLC | Blue Owl Finance LLC | Blue Owl Finance LLC |
|  6.250% due 04/18/2034 | 900 | 866 |
|  Brixmor Operating Partnership LP | Brixmor Operating Partnership LP | Brixmor Operating Partnership LP |
|  5.500% due 02/15/2034 | 400 | 407 |
|  Broadstone Net Lease LLC | Broadstone Net Lease LLC | Broadstone Net Lease LLC |
|  5.000% due 11/01/2032 | 100 | 98 |
|  Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. |
|  5.650% due 06/11/2034 | 600 | 606 |
|  Cantor Fitzgerald LP | Cantor Fitzgerald LP | Cantor Fitzgerald LP |
|  7.200% due 12/12/2028 | 500 | 520 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  4.493% due 09/11/2031 •  | 1100 | 1080 |
|  CBRE Services, Inc. | CBRE Services, Inc. | CBRE Services, Inc. |
|  4.800% due 06/15/2030 | 500 | 501 |
|  Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC |
|  4.750% due 02/14/2029 | 300 | 294 |
|  Citadel Securities Global Holdings LLC | Citadel Securities Global Holdings LLC | Citadel Securities Global Holdings LLC |
|  5.125% due 01/27/2032 | 300 | 298 |
|  Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
|  4.412% due 03/31/2031 •  | 300 | 297 |
|  Citizens Financial Group, Inc. | Citizens Financial Group, Inc. | Citizens Financial Group, Inc. |
|  6.645% due 04/25/2035 •  | 1300 | 1394 |
|  CNO Global Funding | CNO Global Funding | CNO Global Funding |
|  5.875% due 06/04/2027 | 1200 | 1217 |
|  COPT Defense Properties LP | COPT Defense Properties LP | COPT Defense Properties LP |
|  4.500% due 10/15/2030 | 100 | 99 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.600% due 11/15/2030 | 200 | 198 |
|  Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
|  2.500% due 05/15/2031 | 500 | 447 |
|  Equitable America Global Funding | Equitable America Global Funding | Equitable America Global Funding |
|  4.700% due 09/15/2032 | 200 | 194 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Equitable Holdings, Inc. | Equitable Holdings, Inc. | Equitable Holdings, Inc. |
|  4.350% due 04/20/2028 | 133 | 133 |
|  Essential Properties LP | Essential Properties LP | Essential Properties LP |
|  5.400% due 12/01/2035 | 200 | 197 |
|  Essex Portfolio LP | Essex Portfolio LP | Essex Portfolio LP |
|  5.375% due 04/01/2035 | 200 | 202 |
|  Extra Space Storage LP | Extra Space Storage LP | Extra Space Storage LP |
|  4.950% due 01/15/2033 | 400 | 396 |
|  F&G Global Funding | F&G Global Funding | F&G Global Funding |
|  5.875% due 06/10/2027 | 600 | 607 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  2.900% due 02/16/2028 | 200 | 192 |
|  3.815% due 11/02/2027 | 200 | 196 |
|  5.420% due 04/09/2031 | 400 | 393 |
|  5.800% due 03/05/2027 | 1700 | 1710 |
|  5.800% due 03/08/2029 | 700 | 708 |
|  GA Global Funding Trust | GA Global Funding Trust | GA Global Funding Trust |
|  4.500% due 09/18/2030 | 350 | 337 |
|  5.200% due 12/09/2031 | 800 | 784 |
|  GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. | GLP Capital LP/GLP Financing II, Inc. |
|  5.625% due 03/01/2036 | 100 | 97 |
|  5.750% due 11/01/2037 | 900 | 872 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  5.727% due 04/25/2030 •  | 4100 | 4231 |
|  Grand River Funding Trust II | Grand River Funding Trust II | Grand River Funding Trust II |
|  7.280% due 02/15/2056 | 200 | 209 |
|  Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. |
|  2.500% due 09/01/2030 | 1600 | 1453 |
|  Healthpeak OP LLC | Healthpeak OP LLC | Healthpeak OP LLC |
|  3.500% due 07/15/2029 | 1300 | 1258 |
|  Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP |
|  5.500% due 04/15/2035 | 300 | 298 |
|  HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
|  4.900% due 09/11/2028 | 200 | 195 |
|  5.300% due 06/05/2027 | 500 | 498 |
|  Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP | Invitation Homes Operating Partnership LP |
|  4.950% due 01/15/2033 | 500 | 489 |
|  Jackson National Life Global Funding | Jackson National Life Global Funding | Jackson National Life Global Funding |
|  4.638% (SOFRRATE + 0.970%) due 01/14/2028 ~ | 100 | 100 |
|  5.350% due 01/13/2030 | 300 | 303 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  5.103% due 04/22/2031 •  | 1800 | 1833 |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  6.250% due 01/15/2036 | 200 | 198 |
|  Lazard Group LLC | Lazard Group LLC | Lazard Group LLC |
|  6.000% due 03/15/2031 | 300 | 312 |
|  Lincoln Financial Global Funding | Lincoln Financial Global Funding | Lincoln Financial Global Funding |
|  4.625% due 08/18/2030 | 700 | 693 |
|  LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
|  4.900% due 04/03/2028 | 200 | 201 |
|  LXP Industrial Trust | LXP Industrial Trust | LXP Industrial Trust |
|  6.750% due 11/15/2028 | 149 | 156 |
|  Met Tower Global Funding | Met Tower Global Funding | Met Tower Global Funding |
|  4.200% due 09/16/2030 | 500 | 492 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  4.708% due 03/12/2032 •  | 600 | 596 |
|  5.123% due 02/01/2029 •  | 1000 | 1011 |
|  5.192% due 04/17/2031 •  | 1100 | 1117 |
|  5.656% due 04/18/2030 •  | 500 | 514 |
|  Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund |
|  4.500% due 02/11/2027 | 1700 | 1692 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |
|  4.734% due 07/18/2031 •  | 300 | 299 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |
|  2.450% due 09/15/2028 | 1700 | 1555 |
|  NLG Global Funding | NLG Global Funding | NLG Global Funding |
|  5.400% due 01/23/2030 | 500 | 512 |
|  Oaktree Specialty Lending Corp. | Oaktree Specialty Lending Corp. | Oaktree Specialty Lending Corp. |
|  6.340% due 02/27/2030 | 200 | 195 |
|  Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. | Omega Healthcare Investors, Inc. |
|  4.750% due 01/15/2028 | 600 | 600 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Progressive Corp. | Progressive Corp. | Progressive Corp. |
|  5.150% due 03/26/2036 | 200 | 200 |
|  Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP | Prologis Targeted U.S. Logistics Fund LP |
|  4.250% due 01/15/2031 | 200 | 196 |
|  4.625% due 03/15/2033 | 200 | 195 |
|  Protective Life Corp. | Protective Life Corp. | Protective Life Corp. |
|  4.700% due 01/15/2031 | 700 | 694 |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |
|  5.050% due 12/06/2031 | 400 | 400 |
|  Sammons Financial Group, Inc. | Sammons Financial Group, Inc. | Sammons Financial Group, Inc. |
|  6.875% due 04/15/2034 | 600 | 636 |
|  SBA Tower Trust | SBA Tower Trust | SBA Tower Trust |
|  2.328% due 07/15/2052 | 1700 | 1639 |
|  Selective Insurance Group, Inc. | Selective Insurance Group, Inc. | Selective Insurance Group, Inc. |
|  5.900% due 04/15/2035 | 200 | 206 |
|  Simon Property Group LP | Simon Property Group LP | Simon Property Group LP |
|  5.125% due 10/01/2035 | 400 | 401 |
|  Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |
|  6.500% due 03/11/2029 | 300 | 304 |
|  State Street Corp. | State Street Corp. | State Street Corp. |
|  4.784% due 10/23/2036 •  | 300 | 292 |
|  4.834% due 04/24/2030 | 100 | 102 |
|  Stellantis Finance U.S., Inc. | Stellantis Finance U.S., Inc. | Stellantis Finance U.S., Inc. |
|  5.750% due 03/18/2030 | 400 | 398 |
|  Synchrony Financial | Synchrony Financial | Synchrony Financial |
|  5.450% due 03/06/2031 •  | 700 | 700 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.500% due 03/24/2029 | 750 | 745 |
|  TPG Operating Group II LP | TPG Operating Group II LP | TPG Operating Group II LP |
|  5.875% due 03/05/2034 | 600 | 609 |
|  U.S. Bancorp | U.S. Bancorp | U.S. Bancorp |
|  5.046% due 02/12/2031 •  | 600 | 609 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP |
|  4.750% due 04/01/2028 | 400 | 401 |
|  5.125% due 11/15/2031 | 200 | 199 |
|  VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. | VICI Properties LP/VICI Note Co., Inc. |
|  4.250% due 12/01/2026 | 300 | 299 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  2.393% due 06/02/2028 •  | 1600 | 1562 |
|  6.303% due 10/23/2029 •  | 1000 | 1042 |
|  WP Carey, Inc. | WP Carey, Inc. | WP Carey, Inc. |
|  4.650% due 07/15/2030 | 200 | 199 |
|  Zions Bancorp NA | Zions Bancorp NA | Zions Bancorp NA |
|  4.483% due 02/09/2029 •  | 300 | 298 |
|  |  | 60003 |
| INDUSTRIALS 8.3% | INDUSTRIALS 8.3% | INDUSTRIALS 8.3% |
|  180 Medical, Inc. | 180 Medical, Inc. | 180 Medical, Inc. |
|  5.300% due 10/08/2035 | 200 | 197 |
|  Abbott Laboratories | Abbott Laboratories | Abbott Laboratories |
|  4.650% due 03/15/2036 | 200 | 196 |
|  AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
|  4.125% due 03/15/2031 | 400 | 394 |
|  Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
|  4.550% due 03/13/2033 | 1000 | 991 |
|  Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. | Amcor Flexibles North America, Inc. |
|  4.800% due 03/17/2028 | 500 | 503 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.000% due 04/15/2030 | 688 | 668 |
|  3.150% due 08/15/2033 | 1416 | 1322 |
|  3.500% due 08/15/2033 | 337 | 312 |
|  Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
|  5.250% due 03/02/2033 | 1000 | 1027 |
|  Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. | Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |
|  4.650% due 06/15/2033 | 300 | 295 |
|  Bayer U.S. Finance LLC | Bayer U.S. Finance LLC | Bayer U.S. Finance LLC |
|  6.125% due 11/21/2026 | 200 | 202 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 6050 | 6225 |
|  Boeing Co. | Boeing Co. | Boeing Co. |
|  6.259% due 05/01/2027 | 300 | 305 |

---

---

| | | |
|:---|:---|:---|
| **204** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  6.298% due 05/01/2029 | $— | 400 | $— | 420 |
|  6.388% due 05/01/2031 |  | 400 |  | 427 |
|  6.528% due 05/01/2034 |  | 200 |  | 218 |
|  6.858% due 05/01/2054 |  | 300 |  | 330 |
|  7.008% due 05/01/2064 |  | 200 |  | 221 |
|  Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. | Booz Allen Hamilton, Inc. |
|  3.875% due 09/01/2028 |  | 200 |  | 195 |
|  British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust | British Airways Pass-Through Trust |
|  2.900% due 09/15/2036 |  | 626 |  | 575 |
|  3.350% due 12/15/2030 |  | 473 |  | 459 |
|  Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
|  3.137% due 11/15/2035 |  | 707 |  | 601 |
|  3.187% due 11/15/2036 |  | 500 |  | 418 |
|  Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
|  2.450% due 07/15/2028 |  | 400 |  | 373 |
|  Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. |
|  5.200% due 07/30/2036 |  | 300 |  | 297 |
|  CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
|  4.352% due 09/01/2030 |  | 600 |  | 591 |
|  Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
|  5.000% due 08/01/2030 |  | 500 |  | 499 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  4.800% due 01/15/2029 |  | 300 |  | 302 |
|  Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |
|  5.600% due 01/15/2031 |  | 300 |  | 291 |
|  Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC |
|  2.000% due 12/14/2026 |  | 1700 |  | 1675 |
|  Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. |
|  4.750% due 04/01/2028 |  | 300 |  | 302 |
|  Eastman Chemical Co. | Eastman Chemical Co. | Eastman Chemical Co. | Eastman Chemical Co. | Eastman Chemical Co. |
|  4.500% due 02/20/2031 |  | 200 |  | 196 |
|  Energy Transfer LP | Energy Transfer LP | Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
|  4.950% due 05/15/2028 |  | 1600 |  | 1615 |
|  6.050% due 12/01/2026 |  | 900 |  | 908 |
|  Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
|  4.900% due 04/15/2036 |  | 100 |  | 98 |
|  Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. | Fedex Freight Holding Co., Inc. |
|  4.650% due 03/15/2031 |  | 500 |  | 492 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.450% due 03/10/2028 |  | 200 |  | 199 |
|  FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. | FirstEnergy Pennsylvania Electric Co. |
|  4.300% due 01/15/2029 |  | 1400 |  | 1392 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  4.500% due 11/15/2028 |  | 300 |  | 297 |
|  GXO Logistics, Inc. | GXO Logistics, Inc. | GXO Logistics, Inc. | GXO Logistics, Inc. | GXO Logistics, Inc. |
|  6.250% due 05/06/2029 |  | 1400 |  | 1452 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  5.750% due 03/01/2035 |  | 1900 |  | 1954 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  4.750% due 04/06/2029 (b) |  | 900 |  | 899 |
|  Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. |
|  3.875% due 08/15/2050 |  | 2100 |  | 1529 |
|  JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust |
|  2.750% due 11/15/2033 |  | 1151 |  | 1023 |
|  Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. |
|  5.100% due 03/15/2027 |  | 100 |  | 100 |
|  Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
|  5.200% due 03/15/2032 |  | 200 |  | 202 |
|  Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. | Las Vegas Sands Corp. |
|  5.625% due 06/15/2028 |  | 400 |  | 405 |
|  5.900% due 06/01/2027 |  | 1500 |  | 1520 |
|  Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. |
|  4.750% due 03/26/2029 |  | 200 |  | 200 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  5.100% due 04/15/2032 |  | 400 |  | 407 |
|  Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. |
|  5.000% due 03/01/2032 |  | 600 |  | 607 |
|  Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
|  5.400% due 08/15/2054 |  | 200 |  | 181 |
|  Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. | Microchip Technology, Inc. |
|  4.900% due 03/15/2028 |  | 200 |  | 201 |
|  MPLX LP | MPLX LP | MPLX LP | MPLX LP | MPLX LP |
|  5.400% due 04/01/2035 |  | 500 |  | 500 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  MSCI, Inc. | MSCI, Inc. | MSCI, Inc. |
|  5.250% due 09/01/2035 | 400 | 392 |
|  Novartis Capital Corp. | Novartis Capital Corp. | Novartis Capital Corp. |
|  4.400% due 03/18/2031 | 400 | 400 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  3.850% due 04/01/2060 | 1300 | 766 |
|  4.800% due 08/03/2028 | 300 | 300 |
|  PayPal Holdings, Inc. | PayPal Holdings, Inc. | PayPal Holdings, Inc. |
|  5.100% due 04/01/2035 | 300 | 298 |
|  Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. |
|  5.125% due 02/13/2031 | 1000 | 1024 |
|  Regeneron Pharmaceuticals, Inc. | Regeneron Pharmaceuticals, Inc. | Regeneron Pharmaceuticals, Inc. |
|  1.750% due 09/15/2030 | 1600 | 1419 |
|  Southern Co. | Southern Co. | Southern Co. |
|  3.700% due 04/30/2030 | 1400 | 1355 |
|  Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust |
|  3.375% due 08/15/2031 | 115 | 108 |
|  Sutter Health | Sutter Health | Sutter Health |
|  5.213% due 08/15/2032 | 800 | 820 |
|  Synopsys, Inc. | Synopsys, Inc. | Synopsys, Inc. |
|  4.850% due 04/01/2030 | 300 | 302 |
|  Sysco Corp. | Sysco Corp. | Sysco Corp. |
|  5.100% due 09/23/2030 | 200 | 202 |
|  TD SYNNEX Corp. | TD SYNNEX Corp. | TD SYNNEX Corp. |
|  6.100% due 04/12/2034 | 500 | 516 |
|  Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. |
|  5.400% due 03/15/2029 | 300 | 308 |
|  5.700% due 03/15/2034 | 300 | 311 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 | 1390 | 1280 |
|  3.100% due 01/07/2030 | 772 | 752 |
|  4.150% due 02/25/2033 | 795 | 779 |
|  Viper Energy Partners LLC | Viper Energy Partners LLC | Viper Energy Partners LLC |
|  4.900% due 08/01/2030 | 200 | 200 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  5.050% due 03/27/2028 | 600 | 604 |
|  Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. |
|  4.800% due 11/15/2029 | 600 | 606 |
|  Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. |
|  5.200% due 09/15/2034 | 200 | 200 |
|  |  | 50150 |
| UTILITIES 6.8% | UTILITIES 6.8% | UTILITIES 6.8% |
|  AES Corp. | AES Corp. | AES Corp. |
|  5.450% due 06/01/2028 | 500 | 505 |
|  Alabama Power Co. | Alabama Power Co. | Alabama Power Co. |
|  1.450% due 09/15/2030 | 1100 | 967 |
|  Ameren Illinois Co. | Ameren Illinois Co. | Ameren Illinois Co. |
|  1.550% due 11/15/2030 | 1500 | 1316 |
|  Appalachian Power Co. | Appalachian Power Co. | Appalachian Power Co. |
|  2.700% due 04/01/2031 | 1600 | 1456 |
|  AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
|  4.750% due 04/30/2033 | 600 | 594 |
|  Avangrid, Inc. | Avangrid, Inc. | Avangrid, Inc. |
|  3.800% due 06/01/2029 | 1100 | 1074 |
|  Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
|  4.550% due 01/31/2031 | 900 | 891 |
|  CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
|  4.800% due 03/15/2030 | 200 | 203 |
|  Cleco Power LLC | Cleco Power LLC | Cleco Power LLC |
|  5.300% due 01/15/2036 | 100 | 99 |
|  Constellation Energy Generation LLC | Constellation Energy Generation LLC | Constellation Energy Generation LLC |
|  4.400% due 01/15/2031 | 500 | 494 |
|  DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
|  5.200% due 04/01/2030 | 500 | 510 |
|  Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
|  2.550% due 04/15/2031 | 1600 | 1464 |
|  Emera U.S. Finance LLC | Emera U.S. Finance LLC | Emera U.S. Finance LLC |
|  4.500% due 04/01/2029 | 200 | 200 |
|  Entergy Mississippi LLC | Entergy Mississippi LLC | Entergy Mississippi LLC |
|  5.000% due 09/01/2033 | 800 | 803 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Evergy Kansas Central, Inc. | Evergy Kansas Central, Inc. | Evergy Kansas Central, Inc. |
|  4.700% due 03/13/2028 | 100 | 101 |
|  5.250% due 03/15/2035 | 300 | 303 |
|  Eversource Energy | Eversource Energy | Eversource Energy |
|  5.450% due 03/01/2028 | 300 | 305 |
|  Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. |
|  3.700% due 12/01/2047 | 1300 | 971 |
|  Georgia Power Co. | Georgia Power Co. | Georgia Power Co. |
|  3.250% due 03/15/2051 | 1500 | 1005 |
|  ITC Holdings Corp. | ITC Holdings Corp. | ITC Holdings Corp. |
|  4.875% due 04/15/2031 (b) | 300 | 300 |
|  Liberty Utilities Co. | Liberty Utilities Co. | Liberty Utilities Co. |
|  5.577% due 01/31/2029 | 2000 | 2041 |
|  Louisville Gas & Electric Co. | Louisville Gas & Electric Co. | Louisville Gas & Electric Co. |
|  5.450% due 04/15/2033 | 200 | 207 |
|  Massachusetts Electric Co. | Massachusetts Electric Co. | Massachusetts Electric Co. |
|  1.729% due 11/24/2030 | 1500 | 1308 |
|  Narragansett Electric Co. | Narragansett Electric Co. | Narragansett Electric Co. |
|  5.350% due 05/01/2034 | 600 | 610 |
|  New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. |
|  2.150% due 10/01/2031 | 1700 | 1486 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  3.550% due 05/01/2027 | 1500 | 1487 |
|  Northern States Power Co. | Northern States Power Co. | Northern States Power Co. |
|  2.250% due 04/01/2031 | 1600 | 1442 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  4.400% due 03/01/2032 | 1700 | 1640 |
|  4.550% due 07/01/2030 | 1500 | 1480 |
|  5.050% due 10/15/2032 | 300 | 298 |
|  5.550% due 05/15/2029 | 500 | 512 |
|  6.100% due 01/15/2029 | 1200 | 1242 |
|  6.950% due 03/15/2034 | 600 | 657 |
|  PacifiCorp | PacifiCorp | PacifiCorp |
|  5.450% due 02/15/2034 | 600 | 598 |
|  7.375% due 09/15/2055 •  | 400 | 383 |
|  Pinnacle West Capital Corp. | Pinnacle West Capital Corp. | Pinnacle West Capital Corp. |
|  4.469% (SOFRRATE + 0.820%) due 06/10/2026 ~ | 700 | 701 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  5.150% due 09/15/2035 | 200 | 199 |
|  Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. |
|  5.450% due 04/01/2034 | 300 | 305 |
|  Puget Energy, Inc. | Puget Energy, Inc. | Puget Energy, Inc. |
|  5.725% due 03/15/2035 | 600 | 605 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  2.950% due 08/15/2051 | 1700 | 1068 |
|  SCE Recovery Funding LLC | SCE Recovery Funding LLC | SCE Recovery Funding LLC |
|  4.453% due 03/15/2036 | 200 | 198 |
|  Sempra | Sempra | Sempra |
|  6.375% due 04/01/2056 •  | 300 | 301 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.250% due 06/01/2030 | 1500 | 1357 |
|  4.700% due 06/01/2027 | 1500 | 1502 |
|  5.150% due 06/01/2029 | 600 | 609 |
|  Southwest Gas Corp. | Southwest Gas Corp. | Southwest Gas Corp. |
|  4.050% due 03/15/2032 | 1800 | 1721 |
|  Southwestern Electric Power Co. | Southwestern Electric Power Co. | Southwestern Electric Power Co. |
|  4.100% due 09/15/2028 | 1400 | 1392 |
|  System Energy Resources, Inc. | System Energy Resources, Inc. | System Energy Resources, Inc. |
|  5.300% due 12/15/2034 | 400 | 399 |
|  Virginia Electric & Power Co. | Virginia Electric & Power Co. | Virginia Electric & Power Co. |
|  3.750% due 05/15/2027 | 1500 | 1491 |
|  |  | 40800 |
|  Total Corporate Bonds & Notes (Cost $155,752) | Total Corporate Bonds & Notes (Cost $155,752) | 150953 |
| MUNICIPAL BONDS & NOTES 0.3% | MUNICIPAL BONDS & NOTES 0.3% | MUNICIPAL BONDS & NOTES 0.3% |
| ILLINOIS 0.2% | ILLINOIS 0.2% | ILLINOIS 0.2% |
|  Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 | Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 | Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2020 |
|  3.057% due 01/01/2034 | 1400 | 1255 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 205

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund II | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| WEST VIRGINIA 0.1% | WEST VIRGINIA 0.1% | WEST VIRGINIA 0.1% |
|  Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 |
|  2.951% due 06/01/2031 | 1000 | 914 |
|  Total Municipal Bonds & Notes (Cost $2,400) | Total Municipal Bonds & Notes (Cost $2,400) | 2169 |
| U.S. GOVERNMENT AGENCIES 39.6% | U.S. GOVERNMENT AGENCIES 39.6% | U.S. GOVERNMENT AGENCIES 39.6% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  2.500% due 12/01/2032 | 520 | 503 |
|  3.000% due 03/01/2052 - 07/01/2052 | 42983 | 37865 |
|  3.500% due 08/01/2027 - 07/01/2034 | 339 | 332 |
|  4.000% due 06/01/2030 - 04/01/2048 | 389 | 378 |
|  4.500% due 02/01/2029 | 15 | 15 |
|  5.000% due 12/01/2039 - 06/01/2053 | 17142 | 16996 |
|  5.500% due 12/01/2036 - 07/01/2039 | 216 | 224 |
|  6.000% due 11/01/2029 - 08/01/2038 | 701 | 734 |
|  6.500% due 04/01/2055 | 398 | 412 |
|  6.534% due 07/01/2030 •  | 3 | 3 |
|  Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
|  2.937% due 07/25/2054 ~ | 1678 | 1630 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.537% due 08/15/2036 •  | 222 | 223 |
|  4.612% due 04/25/2055 •  | 506 | 509 |
|  6.000% due 09/15/2032 | 29 | 29 |
|  8.000% due 06/15/2030 | 44 | 46 |
|  Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates |
|  5.059% due 02/25/2045 •  | 35 | 34 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  3.000% due 03/01/2052 | 3239 | 2853 |
|  3.500% due 09/01/2029 - 05/01/2035 | 3368 | 3302 |
|  4.000% due 10/01/2030 - 06/01/2049 | 602 | 580 |
|  4.500% due 09/01/2030 - 12/01/2040 | 183 | 182 |
|  5.000% due 04/01/2053 | 612 | 606 |
|  5.114% due 07/01/2044 •  | 15 | 16 |
|  5.500% due 11/01/2032 - 02/01/2040 | 539 | 549 |
|  5.731% due 01/01/2035 •  | 25 | 25 |
|  6.000% due 10/01/2032 - 01/01/2039 | 580 | 608 |
|  6.290% due 09/01/2035 •  | 3 | 3 |
|  6.383% due 05/01/2038 •  | 162 | 169 |
|  6.500% due 07/01/2031 - 10/01/2037 | 4 | 3 |
|  6.577% due 04/01/2041 •  | 3 | 4 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  3.842% due 12/25/2036 •  | 29 | 29 |
|  4.461% due 12/25/2047 •  | 964 | 965 |
|  4.632% due 08/25/2054 •  | 825 | 830 |
|  6.125% due 05/25/2035 ~ | 12 | 12 |
|  Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust | Federal National Mortgage Association REMICS Trust |
|  4.668% due 12/25/2042 ~ | 99 | 99 |
|  Federal National Mortgage Association Trust | Federal National Mortgage Association Trust | Federal National Mortgage Association Trust |
|  6.500% due 06/25/2044 | 15 | 15 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  3.000% due 03/20/2052 | 8957 | 8008 |
|  4.000% due 09/15/2049 - 09/20/2055 | 628 | 589 |
|  4.500% due 04/20/2048 - 12/20/2053 | 2308 | 2246 |
|  5.000% due 07/15/2034 - 07/20/2049 | 1484 | 1499 |
|  5.125% due 12/20/2029 •  | 21 | 21 |
|  5.375% due 07/20/2027 - 07/20/2030 •  | 20 | 20 |
|  5.625% due 02/20/2027 - 06/20/2027 •  | 7 | 7 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.243% due 02/20/2067 •  | 90 | 90 |
|  4.257% due 06/20/2065 •  | 168 | 168 |
|  4.298% due 10/20/2062 •  | 477 | 478 |
|  4.345% due 07/20/2062 ~ | 40 | 40 |
|  4.383% due 07/20/2065 -<br>10/20/2065 •  | 525 | 526 |
|  4.433% due 11/20/2065 •  | 17 | 17 |
|  4.533% due 08/20/2066 •  | 258 | 259 |
|  4.583% due 05/20/2066 -<br>07/20/2066 •  | 704 | 706 |
|  4.683% due 04/20/2066 •  | 86 | 86 |
|  4.703% due 07/20/2065 •  | 338 | 340 |
|  5.077% due 11/20/2067 •  | 534 | 541 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 05/01/2056 | 18000 | 16853 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  1.500% due 09/15/2031 | 1700 | 1488 |
|  4.875% due 05/15/2035 | 3500 | 3601 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  3.000% due 06/01/2040 -<br>04/01/2056 | 11700 | 10262 |
|  3.500% due 05/01/2056 -<br>06/01/2056 | 2200 | 2012 |
|  4.000% due 04/01/2056 -<br>06/01/2056 | 30000 | 28299 |
|  4.500% due 05/01/2056 | 32450 | 31288 |
|  5.000% due 04/01/2056 -<br>05/01/2056 | 31300 | 30840 |
|  5.500% due 05/01/2056 | 5700 | 5719 |
|  6.000% due 06/01/2056 | 19700 | 20052 |
|  6.500% due 06/01/2056 | 1400 | 1447 |
|  Total U.S. Government Agencies<br>(Cost $243,561) | Total U.S. Government Agencies<br>(Cost $243,561) | 238285 |
| U.S. TREASURY OBLIGATIONS 57.5% | U.S. TREASURY OBLIGATIONS 57.5% | U.S. TREASURY OBLIGATIONS 57.5% |
|  U.S. Treasury Bonds |  |  |
|  1.375% due 11/15/2040 | 18900 | 12181 |
|  1.875% due 02/15/2041 | 1100 | 762 |
|  2.000% due 11/15/2041 | 700 | 484 |
|  2.250% due 05/15/2041 | 1300 | 948 |
|  2.250% due 08/15/2049 | 6500 | 4044 |
|  2.375% due 02/15/2042 | 1700 | 1239 |
|  2.500% due 02/15/2045 | 880 | 617 |
|  2.750% due 11/15/2042 | 700 | 533 |
|  2.750% due 08/15/2047 | 2600 | 1841 |
|  2.750% due 11/15/2047 | 7300 | 5151 |
|  2.875% due 05/15/2043 (i) | 1800 | 1383 |
|  2.875% due 11/15/2046 | 2400 | 1755 |
|  3.000% due 05/15/2042 | 400 | 319 |
|  3.000% due 05/15/2045 | 12810 | 9753 |
|  3.000% due 02/15/2047 | 3600 | 2683 |
|  3.000% due 02/15/2048 | 2600 | 1918 |
|  3.000% due 08/15/2048 | 6400 | 4699 |
|  3.125% due 02/15/2043 (i) | 2400 | 1922 |
|  3.125% due 08/15/2044 | 2700 | 2118 |
|  3.250% due 05/15/2042 | 7600 | 6264 |
|  3.375% due 08/15/2042 (g) | 26700 | 22312 |
|  3.375% due 05/15/2044 | 500 | 409 |
|  3.375% due 11/15/2048 | 6100 | 4782 |
|  3.625% due 08/15/2043 | 2300 | 1965 |
|  3.625% due 02/15/2044 | 1500 | 1275 |
|  3.750% due 11/15/2043 | 1300 | 1127 |
|  3.875% due 05/15/2043 | 9200 | 8157 |
|  4.000% due 11/15/2042 | 5300 | 4797 |
|  4.125% due 08/15/2044 | 5300 | 4810 |
|  4.375% due 08/15/2043 (g) | 14700 | 13880 |
|  4.500% due 02/15/2044 | 3700 | 3540 |
|  4.500% due 11/15/2054 | 3600 | 3364 |
|  4.625% due 11/15/2044 (g) | 17900 | 17325 |
|  4.625% due 11/15/2045 (g) | 1700 | 1640 |
|  4.625% due 02/15/2046 (g) | 10200 | 9834 |
|  4.625% due 05/15/2054 | 1900 | 1812 |
|  4.625% due 02/15/2055 (g) | 8400 | 8014 |
|  4.750% due 02/15/2041 | 160 | 161 |
|  4.750% due 02/15/2045 (g) | 5300 | 5209 |
|  4.875% due 08/15/2045 (g) | 3280 | 3270 |
|  U.S. Treasury Inflation Protected Securities (c) | U.S. Treasury Inflation Protected Securities (c) | U.S. Treasury Inflation Protected Securities (c) |
|  0.625% due 07/15/2032 (g) | 6492 | 6127 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  1.125% due 01/15/2033 | 10994 | 10593 |
|  1.750% due 01/15/2034 | 17351 | 17284 |
|  1.875% due 07/15/2034 (g) | 726 | 729 |
|  2.125% due 01/15/2035 (g) | 1443 | 1468 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  1.250% due 04/30/2028 (i) | 2700 | 2563 |
|  1.250% due 09/30/2028 | 2600 | 2442 |
|  1.500% due 11/30/2028 | 4800 | 4520 |
|  2.375% due 03/31/2029 | 5800 | 5563 |
|  2.875% due 08/15/2028 | 2600 | 2546 |
|  3.250% due 06/30/2029 | 4900 | 4812 |
|  3.500% due 04/30/2028 | 4500 | 4472 |
|  3.625% due 03/31/2030 | 2600 | 2573 |
|  3.750% due 05/31/2030 | 2600 | 2585 |
|  3.750% due 06/30/2030 | 3100 | 3081 |
|  3.875% due 07/15/2028 | 9000 | 9012 |
|  3.875% due 09/30/2029 (g) | 12600 | 12603 |
|  4.000% due 06/30/2028 (i) | 1900 | 1908 |
|  4.000% due 02/15/2034 (g) | 36500 | 36009 |
|  4.125% due 07/31/2028 (i) | 1900 | 1913 |
|  4.125% due 08/31/2030 | 6100 | 6148 |
|  4.250% due 08/15/2035 (g) | 5100 | 5082 |
|  4.375% due 11/30/2030 | 7200 | 7331 |
|  4.625% due 09/30/2028 | 4600 | 4689 |
|  4.625% due 09/30/2030 | 3600 | 3703 |
|  4.875% due 10/31/2028 | 2600 | 2667 |
|  4.875% due 10/31/2030 | 3600 | 3741 |
|  U.S. Treasury STRIPS |  |  |
|  0.000% due 05/15/2041 (a) | 30 | 14 |
|  0.000% due 08/15/2041 (a) | 370 | 173 |
|  0.000% due 11/15/2041 (a) | 180 | 83 |
|  0.000% due 02/15/2042 (a) | 380 | 173 |
|  0.000% due 05/15/2042 (a) | 270 | 121 |
|  0.000% due 08/15/2042 (a) | 1970 | 869 |
|  0.000% due 11/15/2042 (a) | 450 | 196 |
|  Total U.S. Treasury Obligations<br>(Cost $369,274) | Total U.S. Treasury Obligations<br>(Cost $369,274) | 346090 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 9.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 9.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 9.5% |
|  Angel Oak Mortgage Trust | Angel Oak Mortgage Trust | Angel Oak Mortgage Trust |
|  6.197% due 01/25/2069 þ | 483 | 487 |
|  BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust | BAMLL Commercial Mortgage Securities Trust |
|  4.837% due 09/15/2038 •  | 1800 | 1734 |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  5.243% due 05/25/2035 ~ | 59 | 57 |
|  Bank | Bank | Bank |
|  3.389% due 03/15/2064 ~ | 1500 | 1394 |
|  3.432% due 05/15/2062 | 450 | 444 |
|  Bayview MSR Opportunity Master Fund Trust | Bayview MSR Opportunity Master Fund Trust | Bayview MSR Opportunity Master Fund Trust |
|  3.000% due 11/25/2051 ~ | 1260 | 1096 |
|  BBCCRE Trust | BBCCRE Trust | BBCCRE Trust |
|  3.966% due 08/10/2033 | 2300 | 2150 |
|  BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
|  5.015% due 09/15/2058 | 1400 | 1418 |
|  Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust | Bear Stearns ALT-A Trust |
|  4.718% due 09/25/2035 ~ | 76 | 40 |
|  5.158% due 05/25/2035 ~ | 237 | 230 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  4.512% due 02/25/2036 ~ | 15 | 13 |
|  6.000% due 04/25/2033 ~ | 16 | 17 |
|  6.470% due 01/25/2035 ~ | 156 | 160 |
|  BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
|  6.526% due 05/15/2057 ~ | 1200 | 1258 |
|  BWAY Mortgage Trust | BWAY Mortgage Trust | BWAY Mortgage Trust |
|  5.037% due 09/15/2036 •  | 1800 | 1772 |
|  BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
|  4.517% due 10/15/2036 •  | 506 | 506 |
|  Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
|  3.250% due 09/25/2064 ~ | 1308 | 1163 |
|  4.962% due 06/25/2055 •  | 969 | 975 |
|  Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates | Chevy Chase Funding LLC Mortgage-Backed Certificates |
|  4.023% due 10/25/2035 •  | 115 | 112 |
|  CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |
|  6.224% due 02/20/2036 •  | 27 | 24 |

---

---

| | | |
|:---|:---|:---|
| **206** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
|  6.190% due 09/25/2035 •  | 60 | 60 |
|  6.480% due 10/25/2035 •  | 22 | 22 |
|  CLNY Trust | CLNY Trust | CLNY Trust |
|  5.163% due 11/15/2038 •  | 660 | 653 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  3.856% due 09/25/2033 ~ | 314 | 317 |
|  Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
|  6.272% due 06/25/2069 þ | 1045 | 1053 |
|  CSMC Trust | CSMC Trust | CSMC Trust |
|  3.000% due 11/25/2056 ~ | 1082 | 941 |
|  3.850% due 09/25/2057 ~ | 1271 | 1223 |
|  5.187% due 07/15/2038 •  | 1900 | 1688 |
|  CSWF Corp. | CSWF Corp. | CSWF Corp. |
|  4.854% due 06/15/2034 •  | 130 | 128 |
|  DOLP Trust | DOLP Trust | DOLP Trust |
|  2.956% due 05/10/2041 | 1900 | 1707 |
|  GCAT Trust | GCAT Trust | GCAT Trust |
|  3.000% due 04/25/2052 ~ | 1241 | 1079 |
|  GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust | GS Mortgage-Backed Securities Corp. Trust |
|  2.500% due 09/25/2052 ~ | 1163 | 970 |
|  GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
|  2.500% due 04/25/2052 ~ | 1134 | 946 |
|  3.000% due 08/26/2052 ~ | 1544 | 1342 |
|  HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust |
|  4.293% due 03/25/2035 •  | 644 | 531 |
|  Hundred Acre Wood Trust | Hundred Acre Wood Trust | Hundred Acre Wood Trust |
|  4.517% due 10/25/2051 •  | 1086 | 1016 |
|  IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust | IndyMac INDX Mortgage Loan Trust |
|  3.706% due 11/25/2035 ~ | 427 | 414 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  4.930% due 06/15/2035 •  | 1454 | 967 |
|  5.170% due 12/15/2031 •  | 469 | 468 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  2.500% due 12/25/2051 ~ | 1310 | 1091 |
|  3.000% due 01/25/2052 ~ | 1191 | 1036 |
|  3.000% due 03/25/2052 ~ | 1301 | 1136 |
|  3.500% due 09/25/2052 ~ | 1284 | 1163 |
|  KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust | KREST Commercial Mortgage Securities Trust |
|  2.558% due 11/05/2044 | 1700 | 1341 |
|  Manhattan West Mortgage Trust | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust |
|  2.130% due 09/10/2039 | 1500 | 1446 |
|  MFA Trust | MFA Trust | MFA Trust |
|  2.479% due 03/25/2065 ~ | 146 | 143 |
|  Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
|  3.436% due 12/15/2049 | 472 | 470 |
|  Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |
|  5.634% due 06/25/2036 ~ | 682 | 667 |
|  Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust |
|  4.887% due 08/15/2038 •  | 1578 | 1550 |
|  OBX Trust | OBX Trust | OBX Trust |
|  2.500% due 10/25/2051 ~ | 1273 | 1059 |
|  3.000% due 02/25/2052 ~ | 1196 | 1041 |
|  One New York Plaza Trust | One New York Plaza Trust | One New York Plaza Trust |
|  4.737% due 01/15/2036 •  | 1416 | 1368 |
|  Prime Mortgage Trust | Prime Mortgage Trust | Prime Mortgage Trust |
|  4.193% due 02/25/2034 •  | 13 | 12 |
|  PRPM LLC | PRPM LLC | PRPM LLC |
|  3.750% due 03/25/2054 þ | 715 | 701 |
|  RFMSI Trust | RFMSI Trust | RFMSI Trust |
|  5.941% due 02/25/2036 ~ | 63 | 59 |
|  Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
|  4.431% due 04/19/2027 •  | 24 | 24 |
|  SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
|  4.937% due 05/15/2038 •  | 1000 | 999 |
|  Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
|  1.486% due 04/25/2065 ~ | 75 | 74 |
|  Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust | Structured Asset Mortgage Investments Trust |
|  4.451% due 09/19/2032 •  | 7 | 7 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  2.900% due 10/25/2059 ~ | 976 | 939 |
|  4.612% due 10/25/2064 ~ | 1175 | 1166 |
|  UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust |
|  2.500% due 11/25/2051 ~ | 1716 | 1431 |
|  2.500% due 12/25/2051 ~ | 1199 | 999 |
|  3.000% due 01/25/2052 ~ | 1370 | 1188 |
|  4.617% due 11/25/2051 •  | 1268 | 1190 |
|  4.667% due 09/25/2051 •  | 1245 | 1170 |
|  VASA Trust | VASA Trust | VASA Trust |
|  4.687% due 07/15/2039 •  | 1900 | 1867 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.373% due 10/25/2045 •  | 52 | 51 |
|  Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
|  3.749% due 06/15/2036 ~ | 1500 | 1416 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $61,800) | Total Non-Agency Mortgage-Backed Securities (Cost $61,800) | 57379 |
| ASSET-BACKED SECURITIES 3.4% | ASSET-BACKED SECURITIES 3.4% | ASSET-BACKED SECURITIES 3.4% |
| AUTOMOBILE SEQUENTIAL 0.5% | AUTOMOBILE SEQUENTIAL 0.5% | AUTOMOBILE SEQUENTIAL 0.5% |
|  Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
|  6.020% due 02/20/2030 | 2000 | 2077 |
|  Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC |
|  5.740% due 12/20/2026 | 267 | 267 |
|  FCCU Auto Receivables Trust | FCCU Auto Receivables Trust | FCCU Auto Receivables Trust |
|  5.460% due 04/15/2030 | 500 | 508 |
|  Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust |
|  5.640% due 03/15/2028 | 104 | 104 |
|  GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
|  5.580% due 06/17/2030 | 309 | 312 |
|  |  | 3268 |
| CMBS OTHER 0.9% | CMBS OTHER 0.9% | CMBS OTHER 0.9% |
|  ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC |
|  0.000% due 08/18/2044 •  | 500 | 500 |
|  LRECS LLC | LRECS LLC | LRECS LLC |
|  5.177% due 08/19/2043 •  | 1800 | 1797 |
|  MF1 LLC | MF1 LLC | MF1 LLC |
|  5.410% due 03/19/2039 •  | 1200 | 1200 |
|  5.827% due 06/19/2037 •  | 1755 | 1755 |
|  |  | 5252 |
| CREDIT CARD OTHER 0.2% | CREDIT CARD OTHER 0.2% | CREDIT CARD OTHER 0.2% |
|  Synchrony Card Funding LLC | Synchrony Card Funding LLC | Synchrony Card Funding LLC |
|  5.740% due 10/15/2029 | 1400 | 1412 |
| HOME EQUITY OTHER 0.1% | HOME EQUITY OTHER 0.1% | HOME EQUITY OTHER 0.1% |
|  EMC Mortgage Loan Trust | EMC Mortgage Loan Trust | EMC Mortgage Loan Trust |
|  4.533% due 05/25/2040 •  | 164 | 163 |
|  Fremont Home Loan Trust | Fremont Home Loan Trust | Fremont Home Loan Trust |
|  3.913% due 01/25/2037 •  | 36 | 16 |
|  Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust | Morgan Stanley IXIS Real Estate Capital Trust |
|  3.843% due 11/25/2036 •  | 11 | 4 |
|  Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust | Securitized Asset-Backed Receivables LLC Trust |
|  3.913% due 12/25/2036 •  | 539 | 112 |
|  Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust | Structured Asset Investment Loan Trust |
|  4.693% due 09/25/2034 •  | 89 | 86 |
|  4.918% due 07/25/2033 •  | 407 | 406 |
|  |  | 787 |
| OTHER ABS 1.7% | OTHER ABS 1.7% | OTHER ABS 1.7% |
|  Lendmark Funding Trust | Lendmark Funding Trust | Lendmark Funding Trust |
|  1.900% due 11/20/2031 | 1700 | 1665 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Mariner Finance Issuance Trust | Mariner Finance Issuance Trust | Mariner Finance Issuance Trust |
|  1.860% due 03/20/2036 | 1666 | 1647 |
|  Mosaic Solar Loan Trust | Mosaic Solar Loan Trust | Mosaic Solar Loan Trust |
|  2.640% due 01/20/2053 | 988 | 866 |
|  Navient Private Education Loan Trust | Navient Private Education Loan Trust | Navient Private Education Loan Trust |
|  5.237% due 07/16/2040 •  | 333 | 334 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.610% due 02/21/2061 | 1726 | 1706 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  4.772% due 06/17/2052 •  | 753 | 753 |
|  5.030% due 03/15/2056 (b) | 1800 | 1802 |
|  Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC | Sunrun Demeter Issuer LLC |
|  2.270% due 01/30/2057 | 1321 | 1201 |
|  |  | 9974 |
|  Total Asset-Backed Securities (Cost $21,163) | Total Asset-Backed Securities (Cost $21,163) | 20693 |
|  | **SHARES** |  |
| PREFERRED SECURITIES 0.4% | PREFERRED SECURITIES 0.4% | PREFERRED SECURITIES 0.4% |
| BANKING & FINANCE 0.4% | BANKING & FINANCE 0.4% | BANKING & FINANCE 0.4% |
|  CoBank ACB | CoBank ACB | CoBank ACB |
|  7.250% due 07/01/2029 •(d) | 2200000 | 2250 |
|  Total Preferred Securities (Cost $2,200) | Total Preferred Securities (Cost $2,200) | 2250 |
| SHORT-TERM INSTRUMENTS 0.1% | SHORT-TERM INSTRUMENTS 0.1% | SHORT-TERM INSTRUMENTS 0.1% |
| MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class | State Street Institutional U.S. Government Money Market Fund, Premier Class |
|  3.720% (f) | 442434 | 442 |
| Total Short-Term Instruments<br>(Cost $442) | Total Short-Term Instruments<br>(Cost $442) | 442 |
| Total Investments in Securities (Cost $856,592) | Total Investments in Securities (Cost $856,592) | 818261 |
| INVESTMENTS IN AFFILIATES 5.9% | INVESTMENTS IN AFFILIATES 5.9% | INVESTMENTS IN AFFILIATES 5.9% |
| MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% | MUTUAL FUNDS 5.8% |
|  PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 700428 | 34741 |
| Total Mutual Funds (Cost $34,619) | Total Mutual Funds (Cost $34,619) | 34741 |
| SHORT-TERM INSTRUMENTS 0.1% | SHORT-TERM INSTRUMENTS 0.1% | SHORT-TERM INSTRUMENTS 0.1% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1% |
|  PIMCO Short-Term<br>Floating NAV Portfolio III | 49440 | 482 |
| Total Short-Term Instruments<br>(Cost $481) | Total Short-Term Instruments<br>(Cost $481) | 482 |
| Total Investments in Affiliates<br>(Cost $35,100) | Total Investments in Affiliates<br>(Cost $35,100) | 35223 |
| Total Investments 141.7%<br>(Cost $891,692) | Total Investments 141.7%<br>(Cost $891,692) | 853484 |
|  Financial Derivative<br>Instruments (h)(j) (0.0)%<br> (Cost or Premiums, net $3,025) | Financial Derivative<br>Instruments (h)(j) (0.0)%<br> (Cost or Premiums, net $3,025) | (150) |
| Other Assets and Liabilities, net (41.7)% | Other Assets and Liabilities, net (41.7)% | (251127) |
| Net Assets 100.0% | Net Assets 100.0% | 602207 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 207

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund II | (Cont.) |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

---

| | |
|:---|:---|
| ~ | Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.  |

---

• Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.

þ Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.

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

(b) When-issued security.

(c) Principal amount of security is adjusted for inflation.

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

(e) Institutional Class Shares of each Fund

(f) Coupon represents a 7-Day Yield.

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS

#### REVERSE REPURCHASE AGREEMENTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Settlement<br>Date | Maturity<br>Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements |
|  BOS | 2.500% | 03/25/2026 | 04/01/2026 | $(3080) | $(3081) |
|  BSN | 3.770 | 03/06/2026 | 04/06/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72166) | (72363) |
|  DEU | 3.760 | 03/02/2026 | 04/06/2026 | (5319) | (5336) |
|  | 3.760 | 03/18/2026 | 04/08/2026 | (1610) | (1613) |
|  | 3.770 | 03/24/2026 | 04/07/2026 | (416) | (416) |
|  | 3.780 | 03/26/2026 | 04/02/2026 | (252) | (252) |
|  JPS | 1.250 | 03/26/2026 | 04/01/2026 | (6790) | (6791) |
|  | 3.660 | 04/01/2026 | 04/07/2026 | (9881) | (9881) |
|  | 3.760 | 03/09/2026 | 04/20/2026 | (6883) | (6899) |
|  | 3.760 | 03/10/2026 | 04/21/2026 | (7203) | (7220) |
|  Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements | Total Reverse Repurchase Agreements |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113852) |

---

#### SALE-BUYBACK TRANSACTIONS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Borrowing<br>Rate<sup>(1)</sup> | Borrowing<br>Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> |
|  BCY | 3.740% | 04/01/2026 | 04/08/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100) | $(100) |
|  | 3.770 | 03/27/2026 | 04/06/2026 | (917) | (917) |
|  Total Sale-Buyback Transactions | Total Sale-Buyback Transactions | Total Sale-Buyback Transactions |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1017) |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions<sup>(2)</sup> | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(3)</sup> |
|  Global/Master Repurchase Agreement |  |  |  |  |  |  |
|  BOS | $0 | $(3081) | $0 | $(3081) | $3085 | $4 |
|  BSN | 0 | (72363) | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72363) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71924 | (439) |
|  DEU | 0 | (7617) | 0 | (7617) | 7355 | (262) |
|  JPS | 0 | (30791) | 0 | (30791) | 20809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9982) |
|  Master Securities Forward Transaction Agreement |  |  |  |  |  |  |
|  BCY | 0 | 0 | (1017) | (1017) | 1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113852) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1017) |  |  |  |

---

208 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### CERTAIN TRANSFERS ACCOUNTED FOR AS SECURED BORROWINGS

#### Remaining Contractual Maturity of the Agreements

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Overnight and<br>Continuous | Up to 30 days | 31-90 days | Greater Than 90 days | Total |
|  Reverse Repurchase Agreements | Reverse Repurchase Agreements | Reverse Repurchase Agreements |  |  |  |
|  U.S. Treasury Obligations | $(9872) | $(94099) | $0 | $0 | $(103971) |
|  Total | $(9872) | $(94099) | $0 | $0 | $(103971) |
|  Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions | Sale-Buyback Transactions |
|  U.S. Treasury Obligations | 0 | (1017) | 0 | 0 | (1017) |
|  Total | $0 | $(1017) | $0 | $0 | $(1017) |
|  Total Borrowings | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9872) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95116) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104988) |
|  Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | Payable for reverse repurchase agreements and sale-buyback financing transactions<sup>(4)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104988) |

---

(g) Securities with an aggregate market value of $104,192 have been pledged as collateral under the terms of the above master agreements as of March 31, 2026.

<sup>(1)</sup> The average amount of borrowings outstanding during the period ended March 31, 2026 was $(95763) at a weighted average interest rate of 4.166%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. 

<sup>(2)</sup> Payable for sale-buyback transactions includes $(1) of deferred price drop. 

<sup>(3)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

<sup>(4)</sup> Unsettled reverse repurchase agreements liability of $(9881) is outstanding at period end. 

&nbsp;&nbsp;&nbsp;&nbsp;(h) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### WRITTEN OPTIONS:

#### OPTIONS ON EXCHANGE-TRADED FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Strike<br>Price | Expiration<br>Date | # of<br>Contracts | Notional<br>Amount | Premiums<br>(Received) | Market<br>Value |
|  Put - CBOE U.S. Treasury 10-Year Note May Futures | $110.000 | 04/24/2026 | 17 | $17 | $(6) | $(6) |
|  Call - CBOE U.S. Treasury 10-Year Note May Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113.000 | 04/24/2026 | 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | (4) | (2) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |

---

#### FUTURES CONTRACTS:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS | LONG FUTURES CONTRACTS |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SOFR Active Contract June Futures  | 09/2027 | 161 | $38819 | $(189) | $8 | $0 |
|  3-Month SOFR Active Contract March Futures  | 06/2027 | 161 | 38795 | (217) | 12 | 0 |
|  3-Month SOFR Active Contract September Futures  | 12/2027 | 161 | 38855 | (133) | 8 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 197 | 40867 | 15 | 16 | 0 |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 991 | 110047 | (1510) | 232 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2034) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS | SHORT FUTURES CONTRACTS |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 291 | $(31480) | $242 | $0 | $(41) |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 665 | (75488) | 1725 | 0 | (197) |
|  U.S. Treasury Long-Term Bond June Futures  | 06/2026 | 223 | (25394) | 773 | 0 | (84) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 300 | (34969) | 1172 | 0 | (66) |
|  |  |  |  | $3912 | $0 | $(388) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(388) |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 209

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund II | (Cont.) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Asset | Liability |
|  AES Corp. | 5.000% | Quarterly | 12/20/2028 | 0.658% | $500 | $62 | $(5) | $57 | $0 | $0 |
|  Boeing Co. | 1.000 | Quarterly | 06/20/2026 | 0.213 | 1800 | (9) | 13 | 4 | 0 | 0 |
|  Boeing Co. | 1.000 | Quarterly | 12/20/2026 | 0.255 | 1800 | (12) | 22 | 10 | 0 | 0 |
|  General Electric Co. | 1.000 | Quarterly | 06/20/2026 | 0.051 | 1800 | 12 | (7) | 5 | 0 | 0 |
|  General Electric Co. | 1.000 | Quarterly | 12/20/2026 | 0.054 | 1700 | 23 | (11) | 12 | 0 | 0 |
|  General Motors Co. | 5.000 | Quarterly | 12/20/2026 | 0.292 | 630 | 125 | (103) | 22 | 0 | 0 |
|  Hess Corp. | 1.000 | Quarterly | 12/20/2026 | 0.080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | (17) | 28 | 11 | 0 | 0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | 200 | 1 | (1) | 0 | 0 | 0 |
|  Oracle Corp. | 1.000 | Quarterly | 06/20/2030 | 1.622 | 200 | 4 | (9) | (5) | 1 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2026 | 0.240 | 1700 | 39 | (29) | 10 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 06/20/2028 | 0.368 | 300 | 0 | 4 | 4 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2028 | 0.423 | 100 | 0 | 2 | 2 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 1.788% | Annual | 05/03/2027 | $5200 | $(18) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218) | $1 | $0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 2.150 | Annual | 06/15/2027 | 10900 | (41) | (326) | (367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | 0 |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 2.850 | Annual | 08/29/2027 | 2600 | (13) | (34) | (47) | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149) | 103 | (46) | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 1200 | (2) | (9) | (11) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 02/28/2031 | 6760 | 40 | (96) | (56) | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2032 | 3000 | 310 | 10 | 320 | 0 | (3) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/17/2033 | 10000 | 77 | 65 | 142 | 0 | (11) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.604 | Annual | 08/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300 | 0 | 151 | 151 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.608 | Annual | 08/15/2033 | 7100 | 0 | 78 | 78 | 0 | (8) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.609 | Annual | 08/15/2033 | 3500 | 0 | 38 | 38 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.619 | Annual | 08/15/2033 | 4500 | 0 | 46 | 46 | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 12/26/2033 | 500 | (2) | (1) | (3) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.854 | Annual | 12/29/2033 | 600 | (3) | (1) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.648 | Annual | 01/08/2034 | 1000 | (5) | 13 | 8 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.670 | Annual | 01/08/2034 | 1200 | (6) | 13 | 7 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 01/17/2034 | 900 | (4) | 14 | 10 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.080 | Annual | 06/05/2034 | 1300 | (5) | (22) | (27) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 10200 | 51 | (1) | 50 | 0 | (10) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.994 | Annual | 07/02/2034 | 1200 | (4) | (13) | (17) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 07/10/2034 | 2300 | (7) | (6) | (13) | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 08/05/2034 | 1200 | (5) | 1 | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/07/2034 | 1180 | (23) | 32 | 9 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.569 | Annual | 08/14/2034 | 800 | (3) | 18 | 15 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.595 | Annual | 08/19/2034 | 1700 | (6) | 34 | 28 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 1700 | (6) | 42 | 36 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 08/21/2034 | 1000 | (4) | 24 | 20 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.555 | Annual | 08/28/2034 | 1800 | (7) | 42 | 35 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.565 | Annual | 08/28/2034 | 1800 | (6) | 40 | 34 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.605 | Annual | 08/28/2034 | 300 | (1) | 6 | 5 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 09/04/2034 | 700 | (3) | 21 | 18 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.240 | Annual | 09/16/2034 | 500 | (2) | 24 | 22 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.278 | Annual | 09/16/2034 | 200 | (1) | 9 | 8 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.280 | Annual | 09/16/2034 | 1100 | (5) | 50 | 45 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 650 | (3) | (1) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 800 | (3) | (3) | (6) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 800 | (3) | (1) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 600 | (2) | (2) | (4) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 1500 | (4) | (14) | (18) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 | 1300 | (4) | (7) | (11) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 | 500 | (1) | (1) | (2) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 1300 | (3) | 12 | 9 | 0 | (1) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/17/2036 | 7400 | 91 | (11) | 80 | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 12/21/2052 | 12700 | 2532 | 2514 | 5046 | 36 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.956 | Annual | 11/15/2054 | 3300 | 0 | 104 | 104 | 12 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.814 | Annual | 02/15/2055 | 1000 | 0 | 56 | 56 | 4 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.846 | Annual | 02/15/2055 | 800 | 0 | 40 | 40 | 3 | 0 |

---

---

| | | |
|:---|:---|:---|
| **210** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.872% | Annual | 02/15/2055 | 2300 | $0 | $105 | $105 | $9 | $0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 3600 | 69 | 15 | 84 | 14 | 0 |
|  |  |  |  |  |  | $2816 | $2971 | $5787 | $83 | $(106) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5919 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | **Total** |  | Variation Margin<br>Liability | Variation Margin<br>Liability | **Total** |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | **Total** |  | Futures | Swap<br>Agreements | **Total** |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | $(8) | $(388) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(502) |

---

(i) Securities with an aggregate market value of $6,506 and cash of $5,927 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> 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. 

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(j) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### WRITTEN OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.620% | 04/20/2026 | 500 | $(1) | $(1) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/20/2026 | 500 | (2) | (3) |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 800 | (3) | (2) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 800 | (3) | (2) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $(9) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(2)</sup> |
|  BOA | $0 | $0 | $0 | $0 | $0 | $(4) | $0 | $(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
|  GLM | 0 | 0 | 0 | 0 | 0 | (4) | 0 | (4) | (4) | 0 | (4) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |  |  |  |

---

<sup>(1)</sup> Notional Amount represents the number of contracts. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **211** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund II | (Cont.) |

---

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $276 | $276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1 | 0 | 0 | 83 | 84 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $8 | $8 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 388 | 388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 106 | 106 |
|  | $0 | $0 | $0 | $0 | $502 | $502 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $8 | $8 |
|  | $0 | $0 | $0 | $0 | $510 | $510 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $222 | $222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | (446) | (446) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 180 | 0 | 0 | 1296 | 1476 |
|  | $0 | $180 | $0 | $0 | $1072 | $1252 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $5 | $0 | $0 | $395 | $400 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $185 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $1467 | $1652 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $1 | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 1649 | 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (124) | 0 | 0 | 666 | 542 |
|  | $0 | $(124) | $0 | $0 | $2316 | $2192 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $(4) | $(4) |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124) | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188 |

---

212 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at<br>03/31/2026** |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | $0 | $60003 | $0 | $60003 |
| &nbsp;&nbsp; Industrials | 0 | 50150 | 0 | 50150 |
| &nbsp;&nbsp; Utilities | 0 | 40800 | 0 | 40800 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; Illinois | 0 | 1255 | 0 | 1255 |
| &nbsp;&nbsp; West Virginia | 0 | 914 | 0 | 914 |
|  U.S. Government Agencies | 0 | 238285 | 0 | 238285 |
|  U.S. Treasury Obligations | 0 | 346090 | 0 | 346090 |
|  Non-Agency Mortgage-Backed Securities | 0 | 57379 | 0 | 57379 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 3268 | 0 | 3268 |
| &nbsp;&nbsp; CMBS Other | 0 | 5252 | 0 | 5252 |
| &nbsp;&nbsp; Credit Card Other | 0 | 1412 | 0 | 1412 |
| &nbsp;&nbsp; Home Equity Other | 0 | 787 | 0 | 787 |
| &nbsp;&nbsp; Other ABS | 0 | 9974 | 0 | 9974 |
|  Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| &nbsp;&nbsp; Banking & Finance | 0 | 2250 | 0 | 2250 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Mutual Funds | 442 | 0 | 0 | 442 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817819 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818261 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | **Fair**<br> **Value at<br>03/31/2026** |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Mutual Funds | $34741 | $0 | $0 | $34741 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | 482 | 0 | 0 | 482 |
|  | $35223 | $0 | $0 | $35223 |
|  Total Investments | $35665 | $817819 | $0 | $853484 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | $0 | $360 | $0 | $360 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | 0 | (502) | 0 | (502) |
|  Over the counter | 0 | (8) | 0 | (8) |
|  | $0 | $(510) | $0 | $(510) |
|  Total Financial Derivative Instruments | $0 | $(150) | $0 | $(150) |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35665 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817669 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853334 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **213** |

---

------

---

| | |
|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV |

---

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 123.6% | INVESTMENTS IN SECURITIES 123.6% | INVESTMENTS IN SECURITIES 123.6% |
| CORPORATE BONDS & NOTES 44.5% | CORPORATE BONDS & NOTES 44.5% | CORPORATE BONDS & NOTES 44.5% |
| BANKING & FINANCE 22.1% | BANKING & FINANCE 22.1% | BANKING & FINANCE 22.1% |
|  ABN AMRO Bank NV | ABN AMRO Bank NV | ABN AMRO Bank NV |
|  4.718% due 01/22/2027 | 600 | 603 |
|  Abu Dhabi Developmental Holding Co. PJSC | Abu Dhabi Developmental Holding Co. PJSC | Abu Dhabi Developmental Holding Co. PJSC |
|  4.375% due 10/02/2031 | 600 | 582 |
|  AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust | AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
|  2.450% due 10/29/2026 | 500 | 495 |
|  3.650% due 07/21/2027 | 200 | 198 |
|  6.100% due 01/15/2027 | 300 | 303 |
|  Air Lease Corp. | Air Lease Corp. | Air Lease Corp. |
|  5.300% due 06/25/2026 | 600 | 601 |
|  Aircastle Ltd. | Aircastle Ltd. | Aircastle Ltd. |
|  2.850% due 01/26/2028 | 300 | 291 |
|  6.500% due 07/18/2028 | 200 | 207 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  6.848% due 01/03/2030 •  | 400 | 418 |
|  American Tower Corp. | American Tower Corp. | American Tower Corp. |
|  3.900% due 05/16/2030 | 600 | 699 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  5.339% due 01/15/2027 | 500 | 503 |
|  5.583% due 01/09/2029 | 700 | 707 |
|  Aviation Capital Group LLC | Aviation Capital Group LLC | Aviation Capital Group LLC |
|  5.125% due 04/10/2030 | 600 | 603 |
|  5.375% due 07/15/2029 | 100 | 102 |
|  Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
|  5.750% due 03/01/2029 | 500 | 511 |
|  6.375% due 05/04/2028 | 500 | 515 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  5.552% due 03/14/2028 •  | 400 | 403 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  3.559% due 04/23/2027 •  | 100 | 100 |
|  3.974% due 02/07/2030 •  | 500 | 493 |
|  4.376% due 04/27/2028 •  | 500 | 500 |
|  5.202% due 04/25/2029 •  | 800 | 812 |
|  5.933% due 09/15/2027 •  | 600 | 604 |
|  6.204% due 11/10/2028 •  | 800 | 822 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  5.138% (SOFRRATE + 1.490%) due 03/12/2028 ~ | 500 | 504 |
|  5.528% (SOFRRATE + 1.880%) due 09/13/2027 ~ | 400 | 402 |
|  7.437% due 11/02/2033 •  | 600 | 671 |
|  BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. |
|  6.150% due 04/02/2030 | 600 | 611 |
|  6.600% due 06/10/2029 | 600 | 619 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  5.283% due 11/19/2030 •  | 600 | 609 |
|  5.497% due 05/20/2030 •  | 500 | 512 |
|  BPCE SA | BPCE SA | BPCE SA |
|  5.716% due 01/18/2030 •  | 500 | 513 |
|  5.876% due 01/14/2031 •  | 600 | 618 |
|  6.714% due 10/19/2029 •  | 500 | 523 |
|  Brown & Brown, Inc. | Brown & Brown, Inc. | Brown & Brown, Inc. |
|  4.700% due 06/23/2028 | 600 | 602 |
|  Cantor Fitzgerald LP | Cantor Fitzgerald LP | Cantor Fitzgerald LP |
|  7.200% due 12/12/2028 | 500 | 520 |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
|  5.700% due 02/01/2030 •  | 300 | 308 |
|  Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC | Carlyle Finance Subsidiary LLC |
|  3.500% due 09/19/2029 | 1200 | 1157 |
|  Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. |
|  6.196% due 11/17/2029 •  | 175 | 183 |
|  Citadel Finance LLC | Citadel Finance LLC | Citadel Finance LLC |
|  5.150% due 02/14/2031 | 700 | 684 |
|  Citadel Securities Global Holdings LLC | Citadel Securities Global Holdings LLC | Citadel Securities Global Holdings LLC |
|  5.125% due 01/27/2032 | 300 | 298 |
|  5.500% due 06/18/2030 | 600 | 610 |
|  Citibank NA | Citibank NA | Citibank NA |
|  5.488% due 12/04/2026 | 400 | 403 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Citigroup, Inc. | Citigroup, Inc. |  |  |
|  5.174% due 02/13/2030 •  | 100 | $— | 102 |
|  Constellation Global Funding | Constellation Global Funding |  |  |
|  4.850% due 10/22/2030 | 700 |  | 687 |
|  Consumers Securitization Funding LLC | Consumers Securitization Funding LLC |  |  |
|  5.210% due 09/01/2031 | 500 |  | 509 |
|  Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |  |  |
|  5.447% due 03/05/2030 •  | 500 |  | 511 |
|  5.564% due 02/28/2029 •  | 300 |  | 306 |
|  Corebridge Global Funding | Corebridge Global Funding |  |  |
|  5.750% due 07/02/2026 | 100 |  | 100 |
|  Credit Agricole SA | Credit Agricole SA |  |  |
|  4.519% (SOFRRATE + 0.870%) due 03/11/2027 ~ | 500 |  | 501 |
|  6.316% due 10/03/2029 •  | 300 |  | 312 |
|  Crown Castle, Inc. | Crown Castle, Inc. |  |  |
|  3.800% due 02/15/2028 | 500 |  | 493 |
|  5.600% due 06/01/2029 | 100 |  | 102 |
|  Danske Bank AS | Danske Bank AS |  |  |
|  4.999% due 03/27/2032 •  | 400 |  | 401 |
|  Deutsche Bank AG | Deutsche Bank AG |  |  |
|  6.819% due 11/20/2029 •  | 500 |  | 525 |
|  DNB Bank ASA | DNB Bank ASA |  |  |
|  4.832% due 03/30/2032 •  | 400 |  | 399 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |  |  |
|  4.600% due 11/15/2030 | 400 |  | 396 |
|  Equitable Financial Life Global Funding | Equitable Financial Life Global Funding |  |  |
|  5.000% due 03/27/2030 | 600 |  | 605 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |  |  |
|  5.800% due 03/05/2027 | 200 |  | 201 |
|  5.875% due 11/07/2029 | 600 |  | 608 |
|  7.350% due 11/04/2027 | 300 |  | 310 |
|  FS KKR Capital Corp. | FS KKR Capital Corp. |  |  |
|  6.875% due 08/15/2029 | 700 |  | 688 |
|  General Motors Financial Co., Inc. | General Motors Financial Co., Inc. |  |  |
|  5.011% (SOFRINDX + 1.350%) due 05/08/2027 ~ | 500 |  | 503 |
|  Goldman Sachs Bank USA | Goldman Sachs Bank USA |  |  |
|  4.406% (SOFRRATE + 0.750%) due 05/21/2027 ~ | 600 |  | 600 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |  |  |
|  3.691% due 06/05/2028 •  | 100 |  | 99 |
|  4.692% due 10/23/2030 •  | 600 |  | 601 |
|  5.049% due 07/23/2030 •  | 400 |  | 405 |
|  5.683% (US0003M + 1.750%) due 10/28/2027 ~ | 900 |  | 907 |
|  Goldman Sachs Private Credit Corp. | Goldman Sachs Private Credit Corp. |  |  |
|  5.050% due 02/23/2028 | 300 |  | 296 |
|  Golub Capital BDC, Inc. | Golub Capital BDC, Inc. |  |  |
|  7.050% due 12/05/2028 | 500 |  | 512 |
|  HSBC Holdings PLC | HSBC Holdings PLC |  |  |
|  2.013% due 09/22/2028 •  | 400 |  | 386 |
|  5.130% due 03/03/2031 •  | 600 |  | 607 |
|  7.390% due 11/03/2028 •  | 1000 |  | 1043 |
|  Hudson Pacific Properties LP | Hudson Pacific Properties LP |  |  |
|  4.650% due 04/01/2029 | 500 |  | 427 |
|  ING Groep NV | ING Groep NV | ING Groep NV | ING Groep NV |
|  4.017% due 03/28/2028 •  | 800 |  | 796 |
|  5.066% due 03/25/2031 •  | 800 |  | 807 |
|  Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. |  |  |
|  3.950% due 12/01/2028 | 200 |  | 198 |
|  4.200% due 03/15/2031 | 200 |  | 197 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. |  |  |
|  1.578% due 04/22/2027 •  | 1200 |  | 1198 |
|  4.005% due 04/23/2029 •  | 100 |  | 99 |
|  4.596% (SOFRRATE + 0.930%) due 07/22/2028 ~ | 200 |  | 200 |
|  4.603% due 10/22/2030 •  | 600 |  | 601 |
|  4.866% (SOFRRATE + 1.200%) due 01/23/2028 ~ | 100 |  | 100 |
|  5.299% due 07/24/2029 •  | 500 |  | 509 |
|  6.070% due 10/22/2027 •  | 500 |  | 505 |
|  JPMorgan Chase Bank NA | JPMorgan Chase Bank NA | JPMorgan Chase Bank NA | JPMorgan Chase Bank NA |
|  4.649% (SOFRRATE + 1.000%) due 12/08/2026 ~ | 500 |  | 502 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Kilroy Realty LP | Kilroy Realty LP |  |  |
|  6.250% due 01/15/2036 | 300 | $— | 298 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC |  |  |
|  4.716% (SOFRINDX + 1.060%) due 11/26/2028 ~ | 200 |  | 201 |
|  5.087% due 11/26/2028 •  | 200 |  | 202 |
|  LPL Holdings, Inc. | LPL Holdings, Inc. |  |  |
|  5.200% due 03/15/2030 | 600 |  | 605 |
|  Lseg U.S. Fin Corp. | Lseg U.S. Fin Corp. |  |  |
|  4.250% due 03/23/2029 | 400 |  | 397 |
|  LXP Industrial Trust | LXP Industrial Trust |  |  |
|  2.375% due 10/01/2031 | 300 |  | 261 |
|  Marsh & McLennan Cos., Inc. | Marsh & McLennan Cos., Inc. |  |  |
|  4.361% (SOFRINDX + 0.700%) due 11/08/2027 ~ | 300 |  | 301 |
|  MassMutual Global Funding II | MassMutual Global Funding II |  |  |
|  4.300% due 10/22/2027 | 600 |  | 600 |
|  5.050% due 12/07/2027 | 600 |  | 609 |
|  Mercury General Corp. | Mercury General Corp. |  |  |
|  4.400% due 03/15/2027 | 500 |  | 497 |
|  Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. |  |  |
|  5.197% due 01/16/2031 •  | 600 |  | 610 |
|  Morgan Stanley | Morgan Stanley |  |  |
|  4.654% due 10/18/2030 •  | 600 |  | 600 |
|  4.687% (SOFRRATE + 1.020%) due 04/13/2028 ~ | 900 |  | 903 |
|  5.123% due 02/01/2029 •  | 500 |  | 506 |
|  5.449% due 07/20/2029 •  | 500 |  | 509 |
|  5.652% due 04/13/2028 •  | 300 |  | 304 |
|  5.656% due 04/18/2030 •  | 200 |  | 206 |
|  Morgan Stanley Bank NA | Morgan Stanley Bank NA |  |  |
|  4.747% (SOFRRATE + 1.080%) due 01/14/2028 ~ | 500 |  | 502 |
|  Morgan Stanley Private Bank NA | Morgan Stanley Private Bank NA |  |  |
|  4.439% (SOFRRATE + 0.770%) due 07/06/2028 ~ | 1300 |  | 1298 |
|  Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding |  |  |
|  5.000% due 04/01/2030 | 400 |  | 403 |
|  5.350% due 04/09/2027 | 300 |  | 303 |
|  5.450% due 12/12/2028 | 500 |  | 511 |
|  Nationwide Building Society | Nationwide Building Society |  |  |
|  6.557% due 10/18/2027 •  | 500 |  | 506 |
|  NatWest Group PLC | NatWest Group PLC |  |  |
|  5.583% due 03/01/2028 •  | 500 |  | 505 |
|  NatWest Markets PLC | NatWest Markets PLC |  |  |
|  5.022% due 03/21/2030 | 900 |  | 911 |
|  Newmark Group, Inc. | Newmark Group, Inc. |  |  |
|  7.500% due 01/12/2029 | 500 |  | 524 |
|  Nippon Life Insurance Co. | Nippon Life Insurance Co. |  |  |
|  4.748% due 04/02/2031 (b) | 400 |  | 401 |
|  Nissan Motor Acceptance Co. LLC | Nissan Motor Acceptance Co. LLC |  |  |
|  1.850% due 09/16/2026 | 200 |  | 197 |
|  5.698% (SOFRINDX + 2.050%) due 09/13/2027 ~ | 500 |  | 496 |
|  Nomura Holdings, Inc. | Nomura Holdings, Inc. |  |  |
|  2.172% due 07/14/2028 | 100 |  | 95 |
|  Northwestern Mutual Global Funding | Northwestern Mutual Global Funding |  |  |
|  4.900% due 06/12/2028 | 500 |  | 506 |
|  Nuveen LLC | Nuveen LLC |  |  |
|  5.550% due 01/15/2030 | 500 |  | 513 |
|  Pacific Life Global Funding II | Pacific Life Global Funding II |  |  |
|  4.500% due 08/28/2029 | 600 |  | 600 |
|  Piedmont Operating Partnership LP | Piedmont Operating Partnership LP |  |  |
|  3.150% due 08/15/2030 | 1200 |  | 1080 |
|  Pricoa Global Funding I | Pricoa Global Funding I |  |  |
|  4.650% due 08/27/2031 | 600 |  | 597 |
|  Principal Life Global Funding II | Principal Life Global Funding II |  |  |
|  4.950% due 11/27/2029 | 400 |  | 404 |
|  Prologis LP | Prologis LP |  |  |
|  4.200% due 02/15/2033 | 900 |  | 645 |
|  Protective Life Global Funding | Protective Life Global Funding |  |  |
|  5.467% due 12/08/2028 | 500 |  | 512 |
|  Realty Income Corp. | Realty Income Corp. |  |  |
|  3.375% due 06/20/2031 | 300 |  | 337 |

---

---

| | | |
|:---|:---|:---|
| **214** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  |  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |  |
|  5.448% due 05/24/2029 | $| 100 | 102 |
|  5.500% due 01/11/2031 |  | 500 | 514 |
|  Royal Bank of Canada | Royal Bank of Canada | Royal Bank of Canada |  |
|  4.875% due 01/19/2027 |  | 500 | 503 |
|  4.900% due 01/12/2028 |  | 300 | 304 |
|  Sammons Financial Group, Inc. | Sammons Financial Group, Inc. | Sammons Financial Group, Inc. |  |
|  6.875% due 04/15/2034 |  | 600 | 636 |
|  Santander Holdings USA, Inc. | Santander Holdings USA, Inc. | Santander Holdings USA, Inc. |  |
|  5.741% due 03/20/2031 •  |  | 600 | 616 |
|  6.499% due 03/09/2029 •  |  | 300 | 309 |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |  |
|  4.858% due 09/11/2030 •  |  | 475 | 476 |
|  SBA Tower Trust | SBA Tower Trust | SBA Tower Trust |  |
|  2.328% due 07/15/2052 |  | 900 | 868 |
|  Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |  |
|  6.125% due 07/15/2030 |  | 300 | 298 |
|  Societe Generale SA | Societe Generale SA | Societe Generale SA |  |
|  1.792% due 06/09/2027 •  |  | 1200 | 1194 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |  |
|  6.750% due 02/08/2028 •  |  | 100 | 102 |
|  State Street Bank & Trust Co. | State Street Bank & Trust Co. | State Street Bank & Trust Co. |  |
|  4.782% due 11/23/2029 |  | 250 | 254 |
|  Stifel Financial Corp. | Stifel Financial Corp. | Stifel Financial Corp. |  |
|  4.000% due 05/15/2030 |  | 1300 | 1264 |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |  |
|  1.902% due 09/17/2028 |  | 900 | 845 |
|  5.240% due 04/15/2030 |  | 500 | 511 |
|  5.316% due 07/09/2029 |  | 600 | 613 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |  |
|  4.850% due 03/24/2031 |  | 400 | 395 |
|  Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm | Thames Ssnm Unfunded Comm |  |
|  9.750% due 10/10/2027 (b) | GBP | 3 | 4 |
|  UBS Group AG | UBS Group AG | UBS Group AG |  |
|  0.650% due 09/10/2029 | EUR | 1200 | 1259 |
|  4.194% due 04/01/2031 •  | $| 300 | 294 |
|  4.588% due 08/10/2032 •  |  | 600 | 590 |
|  5.428% due 02/08/2030 •  |  | 700 | 715 |
|  6.246% due 09/22/2029 •  |  | 500 | 520 |
|  VICI Properties LP | VICI Properties LP | VICI Properties LP |  |
|  5.625% due 04/01/2035 |  | 600 | 597 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |  |
|  2.393% due 06/02/2028 •  |  | 500 | 488 |
|  3.526% due 03/24/2028 •  |  | 800 | 794 |
|  5.244% due 01/24/2031 •  |  | 600 | 612 |
|  6.303% due 10/23/2029 •  |  | 500 | 521 |
|  Wells Fargo Bank NA | Wells Fargo Bank NA | Wells Fargo Bank NA |  |
|  4.719% (SOFRRATE + 1.070%) due 12/11/2026 ~ |  | 500 | 501 |
|  |  |  | 77427 |
| INDUSTRIALS 15.3% | INDUSTRIALS 15.3% | INDUSTRIALS 15.3% | INDUSTRIALS 15.3% |
|  Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC |
|  4.375% due 10/09/2031 |  | 600 | 581 |
|  Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. | Adnoc Murban Rsc Ltd. |
|  4.250% due 09/11/2029 |  | 300 | 296 |
|  Airbnb, Inc. | Airbnb, Inc. | Airbnb, Inc. | Airbnb, Inc. |
|  4.400% due 03/16/2029 |  | 400 | 400 |
|  Algonquin Power & Utilities Corp. | Algonquin Power & Utilities Corp. | Algonquin Power & Utilities Corp. | Algonquin Power & Utilities Corp. |
|  5.365% due 06/15/2026 þ |  | 700 | 701 |
|  Altria Group, Inc. | Altria Group, Inc. | Altria Group, Inc. | Altria Group, Inc. |
|  4.875% due 02/04/2028 |  | 600 | 605 |
|  American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |
|  3.200% due 12/15/2029 |  | 701 | 684 |
|  3.500% due 08/15/2033 |  | 877 | 810 |
|  Amrize Finance U.S. LLC | Amrize Finance U.S. LLC | Amrize Finance U.S. LLC | Amrize Finance U.S. LLC |
|  4.950% due 04/07/2030 |  | 400 | 405 |
|  AppLovin Corp. | AppLovin Corp. | AppLovin Corp. | AppLovin Corp. |
|  5.125% due 12/01/2029 |  | 700 | 704 |
|  Arrow Electronics, Inc. | Arrow Electronics, Inc. | Arrow Electronics, Inc. | Arrow Electronics, Inc. |
|  5.150% due 08/21/2029 |  | 600 | 607 |
|  BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. |
|  6.343% due 08/02/2030 |  | 500 | 534 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Baxter International, Inc. | Baxter International, Inc. | Baxter International, Inc. |
|  4.900% due 12/15/2030 | 500 | 494 |
|  Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC | Bayer U.S. Finance II LLC |
|  4.375% due 12/15/2028 | 1600 | 1584 |
|  Bayer U.S. Finance LLC | Bayer U.S. Finance LLC | Bayer U.S. Finance LLC |
|  6.375% due 11/21/2030 | 200 | 210 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 3600 | 3704 |
|  Beth Israel Lahey Health, Inc. | Beth Israel Lahey Health, Inc. | Beth Israel Lahey Health, Inc. |
|  3.080% due 07/01/2051 | 900 | 588 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  4.300% due 03/17/2028 | 400 | 400 |
|  5.050% due 03/21/2030 | 600 | 607 |
|  Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
|  5.050% due 07/12/2029 | 600 | 612 |
|  Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. | Canadian Natural Resources Ltd. |
|  5.000% due 12/15/2029 | 300 | 305 |
|  CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. |
|  5.100% due 03/01/2030 | 600 | 599 |
|  Centene Corp. | Centene Corp. | Centene Corp. |
|  2.500% due 03/01/2031 | 550 | 462 |
|  2.625% due 08/01/2031 | 150 | 125 |
|  3.000% due 10/15/2030 | 400 | 351 |
|  4.625% due 12/15/2029 | 500 | 475 |
|  Cheniere Energy Partners LP | Cheniere Energy Partners LP | Cheniere Energy Partners LP |
|  3.250% due 01/31/2032 | 500 | 456 |
|  4.500% due 10/01/2029 | 200 | 199 |
|  Cheniere Energy, Inc. | Cheniere Energy, Inc. | Cheniere Energy, Inc. |
|  5.650% due 04/15/2034 | 500 | 515 |
|  Cigna Group | Cigna Group | Cigna Group |
|  5.000% due 05/15/2029 | 500 | 509 |
|  Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
|  4.800% due 01/15/2029 | 375 | 377 |
|  CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
|  5.250% due 01/30/2031 | 400 | 409 |
|  Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC | Daimler Truck Finance North America LLC |
|  4.606% (SOFRRATE + 0.960%) due 09/25/2027 ~ | 600 | 602 |
|  5.000% due 01/15/2027 | 500 | 503 |
|  Delta Air Lines Pass-Through Trust | Delta Air Lines Pass-Through Trust | Delta Air Lines Pass-Through Trust |
|  2.000% due 12/10/2029 | 805 | 779 |
|  Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. |
|  3.755% due 03/15/2027 | 285 | 282 |
|  DT Midstream, Inc. | DT Midstream, Inc. | DT Midstream, Inc. |
|  5.800% due 12/15/2034 | 750 | 770 |
|  Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
|  6.100% due 12/01/2028 | 200 | 208 |
|  Equifax, Inc. | Equifax, Inc. | Equifax, Inc. |
|  4.800% due 09/15/2029 | 600 | 604 |
|  Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. |
|  5.700% due 01/15/2035 | 300 | 305 |
|  Expedia Group, Inc. | Expedia Group, Inc. | Expedia Group, Inc. |
|  3.250% due 02/15/2030 | 800 | 756 |
|  Ferguson Enterprises, Inc. | Ferguson Enterprises, Inc. | Ferguson Enterprises, Inc. |
|  4.350% due 03/15/2031 | 600 | 591 |
|  Fresenius Medical Care U.S. Finance III, Inc. | Fresenius Medical Care U.S. Finance III, Inc. | Fresenius Medical Care U.S. Finance III, Inc. |
|  1.875% due 12/01/2026 | 1200 | 1177 |
|  Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL | Greensaif Pipelines Bidco SARL |
|  6.103% due 08/23/2042 | 200 | 199 |
|  6.129% due 02/23/2038 | 200 | 203 |
|  6.510% due 02/23/2042 | 300 | 311 |
|  Harbour Energy PLC | Harbour Energy PLC | Harbour Energy PLC |
|  6.327% due 04/01/2035 | 600 | 615 |
|  HCA, Inc. | HCA, Inc. | HCA, Inc. |
|  4.125% due 06/15/2029 | 500 | 493 |
|  5.200% due 06/01/2028 | 585 | 594 |
|  Hyatt Hotels Corp. | Hyatt Hotels Corp. | Hyatt Hotels Corp. |
|  5.250% due 06/30/2029 | 600 | 610 |
|  5.750% due 03/30/2032 | 600 | 617 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  1.800% due 01/10/2028 | 100 | 95 |
|  5.150% due 03/27/2030 | 600 | 607 |
|  5.250% due 01/08/2027 | 400 | 402 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  5.950% due 09/21/2026 | $— | 500 | $— | 503 |
|  6.500% due 01/16/2029 |  | 600 |  | 627 |
|  Illumina, Inc. | Illumina, Inc. | Illumina, Inc. | Illumina, Inc. | Illumina, Inc. |
|  4.650% due 09/09/2026 |  | 500 |  | 500 |
|  Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. | Integris Baptist Medical Center, Inc. |
|  3.875% due 08/15/2050 |  | 1600 |  | 1165 |
|  JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust | JetBlue Pass-Through Trust |
|  2.750% due 11/15/2033 |  | 1079 |  | 959 |
|  Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. | Maple Parent Holdings Corp. |
|  4.728% due 03/26/2035 |  | 300 |  | 346 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  5.550% due 10/15/2028 | $— | 500 |  | 513 |
|  Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. |
|  5.200% due 03/01/2035 |  | 600 |  | 606 |
|  Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC |
|  4.750% due 03/31/2028 |  | 600 |  | 604 |
|  4.800% due 01/11/2027 |  | 500 |  | 502 |
|  National Fuel Gas Co. | National Fuel Gas Co. | National Fuel Gas Co. | National Fuel Gas Co. | National Fuel Gas Co. |
|  5.500% due 03/15/2030 |  | 600 |  | 614 |
|  Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. | Nissan Motor Co. Ltd. |
|  4.345% due 09/17/2027 |  | 1100 |  | 1071 |
|  NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. |
|  4.620% due 07/16/2028 |  | 261 |  | 262 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  4.800% due 08/03/2028 |  | 600 |  | 600 |
|  6.150% due 11/09/2029 (f) |  | 300 |  | 309 |
|  Paramount Global | Paramount Global | Paramount Global | Paramount Global | Paramount Global |
|  2.900% due 01/15/2027 |  | 100 |  | 98 |
|  Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. | Philip Morris International, Inc. |
|  3.750% due 01/15/2031 |  | 500 |  | 580 |
|  Quanta Services, Inc. | Quanta Services, Inc. | Quanta Services, Inc. | Quanta Services, Inc. | Quanta Services, Inc. |
|  4.300% due 08/09/2028 | $— | 600 |  | 599 |
|  Quest Diagnostics, Inc. | Quest Diagnostics, Inc. | Quest Diagnostics, Inc. | Quest Diagnostics, Inc. | Quest Diagnostics, Inc. |
|  4.625% due 12/15/2029 |  | 600 |  | 604 |
|  Roche Holdings, Inc. | Roche Holdings, Inc. | Roche Holdings, Inc. | Roche Holdings, Inc. | Roche Holdings, Inc. |
|  4.790% due 03/08/2029 |  | 500 |  | 510 |
|  Salesforce, Inc. | Salesforce, Inc. | Salesforce, Inc. | Salesforce, Inc. | Salesforce, Inc. |
|  4.500% due 03/15/2028 |  | 400 |  | 400 |
|  4.650% due 03/15/2029 |  | 400 |  | 401 |
|  Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. | Santos Finance Ltd. |
|  3.649% due 04/29/2031 |  | 600 |  | 562 |
|  5.750% due 11/13/2035 |  | 500 |  | 502 |
|  Saudi Arabian Oil Co. | Saudi Arabian Oil Co. | Saudi Arabian Oil Co. | Saudi Arabian Oil Co. | Saudi Arabian Oil Co. |
|  4.375% due 02/02/2031 |  | 300 |  | 292 |
|  Snam SpA | Snam SpA | Snam SpA | Snam SpA | Snam SpA |
|  5.750% due 05/28/2035 |  | 400 |  | 408 |
|  South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC | South Bow USA Infrastructure Holdings LLC |
|  5.026% due 10/01/2029 |  | 600 |  | 604 |
|  Southern Co. | Southern Co. | Southern Co. | Southern Co. | Southern Co. |
|  3.700% due 04/30/2030 |  | 1000 |  | 968 |
|  Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust | Spirit Airlines Pass-Through Trust |
|  4.100% due 10/01/2029 |  | 1237 |  | 1215 |
|  Stryker Corp. | Stryker Corp. | Stryker Corp. | Stryker Corp. | Stryker Corp. |
|  3.375% due 09/11/2032 |  | 200 |  | 227 |
|  Syensqo Finance America LLC | Syensqo Finance America LLC | Syensqo Finance America LLC | Syensqo Finance America LLC | Syensqo Finance America LLC |
|  5.650% due 06/04/2029 | $— | 600 |  | 614 |
|  T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
|  2.050% due 02/15/2028 |  | 100 |  | 96 |
|  4.800% due 07/15/2028 |  | 300 |  | 303 |
|  Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC | Thames Water Super Senior Issuer PLC |
|  9.750% due 10/10/2027 |  | 12 |  | 17 |
|  United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust | United Airlines Pass-Through Trust |
|  2.700% due 11/01/2033 | $— | 878 |  | 808 |
|  3.450% due 06/01/2029 |  | 162 |  | 159 |
|  UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
|  4.250% due 01/15/2029 |  | 800 |  | 799 |
|  VMware LLC | VMware LLC | VMware LLC | VMware LLC | VMware LLC |
|  1.800% due 08/15/2028 |  | 1000 |  | 942 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  5.050% due 03/27/2028 |  | 1200 |  | 1208 |
|  5.350% due 03/27/2030 |  | 600 |  | 609 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **215** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. |
|  5.350% due 12/01/2028 | 500 | 512 |
|  |  | 53849 |
| UTILITIES 7.1% | UTILITIES 7.1% | UTILITIES 7.1% |
|  AES Corp. | AES Corp. | AES Corp. |
|  2.450% due 01/15/2031 | 200 | 177 |
|  5.450% due 06/01/2028 | 400 | 404 |
|  Alliant Energy Finance LLC | Alliant Energy Finance LLC | Alliant Energy Finance LLC |
|  5.400% due 06/06/2027 | 600 | 605 |
|  Ameren Corp. | Ameren Corp. | Ameren Corp. |
|  5.000% due 01/15/2029 | 500 | 508 |
|  Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
|  4.550% due 01/31/2031 | 700 | 693 |
|  Boston Gas Co. | Boston Gas Co. | Boston Gas Co. |
|  3.001% due 08/01/2029 | 1200 | 1140 |
|  DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
|  5.100% due 03/01/2029 | 500 | 508 |
|  Edison International | Edison International | Edison International |
|  4.125% due 03/15/2028 | 200 | 197 |
|  Emera U.S. Finance LP | Emera U.S. Finance LP | Emera U.S. Finance LP |
|  2.639% due 06/15/2031 | 500 | 446 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  1.625% due 07/12/2026 | 1000 | 993 |
|  2.500% due 07/12/2031 | 1000 | 889 |
|  Entergy Corp. | Entergy Corp. | Entergy Corp. |
|  2.950% due 09/01/2026 | 2700 | 2685 |
|  EPH Financing International AS | EPH Financing International AS | EPH Financing International AS |
|  6.651% due 11/13/2028 | 400 | 489 |
|  Evergy, Inc. | Evergy, Inc. | Evergy, Inc. |
|  4.250% due 03/15/2029 | 500 | 496 |
|  Exelon Corp. | Exelon Corp. | Exelon Corp. |
|  5.150% due 03/15/2028 | 500 | 506 |
|  Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. |
|  5.050% due 04/01/2028 | 600 | 610 |
|  FORESEA Holding SA | FORESEA Holding SA | FORESEA Holding SA |
|  7.500% due 06/15/2030 | 236 | 231 |
|  Monongahela Power Co. | Monongahela Power Co. | Monongahela Power Co. |
|  3.550% due 05/15/2027 | 1400 | 1387 |
|  New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. |
|  1.950% due 10/01/2030 | 1200 | 1054 |
|  2.150% due 10/01/2031 | 900 | 787 |
|  NorthWestern Corp. | NorthWestern Corp. | NorthWestern Corp. |
|  5.073% due 03/21/2030 | 800 | 813 |
|  Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
|  4.500% due 03/15/2031 | 500 | 497 |
|  ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. |
|  3.250% due 06/01/2030 | 600 | 566 |
|  4.400% due 10/15/2029 | 300 | 298 |
|  6.500% due 09/01/2030 | 600 | 635 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  2.500% due 02/01/2031 | 700 | 628 |
|  PacifiCorp | PacifiCorp | PacifiCorp |
|  4.250% due 03/15/2029 | 200 | 198 |
|  5.300% due 02/15/2031 | 900 | 913 |
|  5.800% due 04/15/2036 | 300 | 302 |
|  PG&E Recovery Funding LLC | PG&E Recovery Funding LLC | PG&E Recovery Funding LLC |
|  5.231% due 06/01/2042 | 600 | 591 |
|  Rio Oil Finance Trust | Rio Oil Finance Trust | Rio Oil Finance Trust |
|  9.750% due 01/06/2027 | 428 | 437 |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  1.700% due 10/01/2030 | 500 | 443 |
|  SGSP Australia Assets Pty. Ltd. | SGSP Australia Assets Pty. Ltd. | SGSP Australia Assets Pty. Ltd. |
|  3.250% due 07/29/2026 | 1500 | 1496 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.250% due 06/01/2030 | 1400 | 1267 |
|  4.125% due 03/01/2048 | 100 | 75 |
|  4.875% due 02/01/2027 | 300 | 301 |
|  5.150% due 06/01/2029 | 100 | 101 |
|  Telefonica Europe BV | Telefonica Europe BV | Telefonica Europe BV |
|  8.250% due 09/15/2030 | 200 | 227 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Virginia Power Fuel Securitization LLC | Virginia Power Fuel Securitization LLC | Virginia Power Fuel Securitization LLC |
|  5.088% due 05/01/2029 | 240 | 242 |
|  |  | 24835 |
|  Total Corporate Bonds & Notes<br>(Cost $156,674) | Total Corporate Bonds & Notes<br>(Cost $156,674) | 156111 |
| MUNICIPAL BONDS & NOTES 0.7% | MUNICIPAL BONDS & NOTES 0.7% | MUNICIPAL BONDS & NOTES 0.7% |
| ARIZONA 0.1% | ARIZONA 0.1% | ARIZONA 0.1% |
|  Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 | Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 | Maricopa County, Arizona Industrial Development Authority Revenue Notes, Series 2024 |
|  7.375% due 10/01/2029 | 350 | 369 |
| LOUISIANA 0.2% | LOUISIANA 0.2% | LOUISIANA 0.2% |
|  Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2022 | Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2022 | Louisiana Local Government Environmental Facilities & Community Development Auth Revenue Bonds, Series 2022 |
|  4.145% due 02/01/2033 | 800 | 796 |
| TEXAS 0.1% | TEXAS 0.1% | TEXAS 0.1% |
|  Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 | Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 | Texas Natural Gas Securitization Finance Corp. Revenue Bonds, Series 2023 |
|  5.169% due 04/01/2041 | 400 | 406 |
| WEST VIRGINIA 0.3% | WEST VIRGINIA 0.3% | WEST VIRGINIA 0.3% |
|  Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 | Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2020 |
|  2.951% due 06/01/2031 | 1000 | 915 |
|  Total Municipal Bonds & Notes (Cost $2,550) | Total Municipal Bonds & Notes (Cost $2,550) | 2486 |
| U.S. GOVERNMENT AGENCIES 44.7% | U.S. GOVERNMENT AGENCIES 44.7% | U.S. GOVERNMENT AGENCIES 44.7% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  3.000% due 05/01/2052 - 09/01/2052 | 30041 | 26464 |
|  4.000% due 10/01/2052 | 172 | 162 |
|  5.000% due 06/01/2028 - 09/01/2053 | 954 | 951 |
|  5.500% due 04/01/2038 - 01/01/2055 | 1517 | 1528 |
|  6.000% due 10/01/2053 - 06/01/2054 | 655 | 671 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  3.977% due 10/15/2043 •  | 207 | 203 |
|  4.562% due 12/25/2055 •  | 777 | 780 |
|  4.862% due 02/25/2055 •  | 473 | 477 |
|  4.962% due 05/25/2054 •  | 607 | 609 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  3.000% due 06/01/2029 - 07/01/2052 | 5386 | 4746 |
|  3.500% due 03/01/2048 | 57 | 53 |
|  4.000% due 11/01/2047 - 06/01/2052 | 2080 | 1992 |
|  4.500% due 01/01/2041 - 05/01/2053 | 582 | 566 |
|  5.000% due 07/01/2053 | 2042 | 2026 |
|  5.500% due 02/01/2036 - 05/01/2036 | 24 | 25 |
|  6.228% due 01/01/2036 •  | 501 | 522 |
|  6.383% due 05/01/2038 •  | 276 | 287 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  0.374% due 02/25/2033 •  | 2033 | 1854 |
|  3.000% due 10/25/2040 | 368 | 353 |
|  4.762% due 10/25/2055 •  | 653 | 657 |
|  4.862% due 12/25/2053 •  | 344 | 347 |
|  Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
|  3.000% due 11/15/2049 | 430 | 384 |
|  4.000% due 09/15/2049 | 213 | 201 |
|  5.000% due 05/15/2047 - 09/15/2047 | 70 | 70 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  0.000% due 11/20/2039 (a)(c) | 1474 | 1237 |
|  4.132% due 05/20/2047 •  | 347 | 335 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  4.243% due 02/20/2067 •  | 223 | 223 |
|  4.247% due 04/20/2065 •  | 55 | 55 |
|  4.253% due 06/20/2067 •  | 51 | 51 |
|  4.403% due 09/20/2065 •  | 484 | 484 |
|  4.473% due 01/20/2073 •  | 484 | 488 |
|  4.533% due 08/20/2066 -<br>08/20/2067 •  | 861 | 865 |
|  4.553% due 03/20/2073 •  | 559 | 563 |
|  4.573% due 11/20/2073 •  | 970 | 983 |
|  4.583% due 05/20/2066 -<br>06/20/2066 •  | 769 | 772 |
|  4.693% due 12/20/2072 •  | 395 | 402 |
|  4.723% due 12/20/2073 •  | 476 | 483 |
|  4.813% due 11/20/2072 •  | 683 | 698 |
|  5.227% due 06/20/2067 •  | 935 | 947 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 04/01/2056 | 2900 | 2717 |
|  4.500% due 04/01/2056 | 3100 | 2995 |
|  5.000% due 05/01/2056 | 3560 | 3519 |
|  6.000% due 05/01/2056 | 1800 | 1828 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 04/01/2056 - 06/01/2056 | 8690 | 8199 |
|  4.500% due 05/01/2056 - 06/01/2056 | 9200 | 8869 |
|  5.000% due 04/01/2056 - 05/01/2056 | 10260 | 10110 |
|  5.500% due 06/01/2056 | 50225 | 50341 |
|  6.000% due 06/01/2056 | 13480 | 13721 |
|  Total U.S. Government Agencies<br>(Cost $157,480) | Total U.S. Government Agencies<br>(Cost $157,480) | 156813 |
| U.S. TREASURY OBLIGATIONS 20.4% | U.S. TREASURY OBLIGATIONS 20.4% | U.S. TREASURY OBLIGATIONS 20.4% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.375% due 11/15/2040 | 4300 | 2771 |
|  1.375% due 08/15/2050 | 500 | 245 |
|  1.625% due 11/15/2050 | 500 | 261 |
|  1.750% due 08/15/2041 | 400 | 268 |
|  1.875% due 02/15/2051 | 2650 | 1472 |
|  1.875% due 11/15/2051 | 925 | 508 |
|  2.000% due 11/15/2041 | 400 | 277 |
|  2.000% due 02/15/2050 | 1900 | 1107 |
|  2.000% due 08/15/2051 | 2725 | 1552 |
|  2.250% due 05/15/2041 | 300 | 219 |
|  2.250% due 08/15/2049 | 5568 | 3465 |
|  2.375% due 11/15/2049 | 500 | 319 |
|  2.375% due 05/15/2051 | 80 | 50 |
|  2.500% due 02/15/2045 | 5800 | 4069 |
|  2.750% due 08/15/2042 | 400 | 306 |
|  2.875% due 05/15/2049 | 400 | 284 |
|  3.000% due 02/15/2048 | 300 | 221 |
|  3.000% due 08/15/2048 | 300 | 220 |
|  3.000% due 02/15/2049 | 200 | 146 |
|  3.125% due 02/15/2043 (h) | 1930 | 1546 |
|  3.125% due 08/15/2044 | 4300 | 3372 |
|  3.250% due 05/15/2042 | 1400 | 1154 |
|  3.375% due 08/15/2042 | 142 | 119 |
|  3.375% due 11/15/2048 | 1300 | 1019 |
|  3.750% due 08/15/2041 | 12194 | 10879 |
|  3.750% due 11/15/2043 (h) | 2500 | 2167 |
|  3.875% due 02/15/2043 | 1000 | 889 |
|  3.875% due 05/15/2043 | 400 | 355 |
|  4.000% due 11/15/2042 | 1147 | 1038 |
|  4.250% due 08/15/2054 | 1800 | 1612 |
|  4.375% due 05/15/2041 | 1828 | 1761 |
|  4.375% due 08/15/2043 | 1275 | 1204 |
|  4.500% due 11/15/2054 | 400 | 374 |
|  4.625% due 05/15/2044 | 900 | 873 |
|  4.625% due 05/15/2054 | 1300 | 1240 |
|  4.625% due 11/15/2055 | 5800 | 5543 |
|  4.750% due 08/15/2055 | 8500 | 8285 |
|  4.875% due 08/15/2045 | 1017 | 1014 |
|  U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) | U.S. Treasury Inflation Protected Securities (d) |
|  0.125% due 02/15/2051 (d) | 2373 | 1264 |
|  0.125% due 02/15/2052 (d) | 935 | 486 |
|  0.250% due 02/15/2050 (d) | 506 | 287 |
|  0.750% due 02/15/2045 (d) | 691 | 497 |
|  0.875% due 02/15/2047 (d) | 269 | 191 |

---

---

| | | |
|:---|:---|:---|
| **216** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  1.000% due 02/15/2046 (d) | $— | 618 | 459 |
|  1.000% due 02/15/2049 (d) |  | 258 | 183 |
|  1.500% due 02/15/2053 (d) |  | 438 | 336 |
|  2.125% due 02/15/2054 (d) |  | 1876 | 1655 |
|  2.375% due 02/15/2055 (d) |  | 618 | 575 |
|  2.125% due 04/15/2029 (d)(h) |  | 2629 | 2699 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  4.125% due 02/15/2036 |  | 610 | 601 |
|  Total U.S. Treasury Obligations (Cost $79,183) | Total U.S. Treasury Obligations (Cost $79,183) | Total U.S. Treasury Obligations (Cost $79,183) | 71437 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 4.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 4.5% |
|  Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust | Banc of America Funding Trust |
|  5.243% due 05/25/2035 ~ |  | 300 | 289 |
|  Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust | Bear Stearns ARM Trust |
|  6.125% due 02/25/2033 ~ |  | 1 | 1 |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  3.976% due 07/15/2051 |  | 81 | 81 |
|  Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
|  3.250% due 09/25/2063 ~ |  | 415 | 373 |
|  4.962% due 06/25/2055 •  |  | 408 | 411 |
|  Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust | Chase Mortgage Finance Trust |
|  6.517% due 02/25/2037 ~ |  | 3 | 3 |
|  Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |
|  3.856% due 09/25/2033 ~ |  | 1 | 1 |
|  Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
|  6.093% due 04/25/2069 þ |  | 268 | 269 |
|  CSWF Corp. | CSWF Corp. | CSWF Corp. | CSWF Corp. |
|  4.854% due 06/15/2034 •  |  | 46 | 45 |
|  Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC | Eurohome U.K. Mortgages PLC |
|  4.015% due 06/15/2044 •  |  | 78 | 104 |
|  Eurosail-U.K. PLC | Eurosail-U.K. PLC | Eurosail-U.K. PLC | Eurosail-U.K. PLC |
|  4.815% due 06/13/2045 •  |  | 508 | 672 |
|  GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust |
|  4.920% due 07/15/2035 •  | $— | 499 | 329 |
|  GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust | GSR Mortgage Loan Trust |
|  6.449% due 01/25/2035 ~ |  | 113 | 109 |
|  HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust | HomeBanc Mortgage Trust |
|  4.293% due 03/25/2035 •  |  | 164 | 136 |
|  Impac CMB Trust | Impac CMB Trust | Impac CMB Trust | Impac CMB Trust |
|  4.573% due 10/25/2034 •  |  | 136 | 136 |
|  JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
|  2.287% due 03/05/2042 |  | 500 | 470 |
|  4.128% due 07/05/2031 |  | 500 | 413 |
|  JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
|  3.500% due 09/25/2052 ~ |  | 680 | 616 |
|  5.990% due 07/25/2064 ~ |  | 359 | 361 |
|  Landmark Mortgage Securities No. 3 PLC | Landmark Mortgage Securities No. 3 PLC | Landmark Mortgage Securities No. 3 PLC | Landmark Mortgage Securities No. 3 PLC |
|  4.143% due 04/17/2044 •  |  | 140 | 182 |
|  Ludgate Funding PLC | Ludgate Funding PLC | Ludgate Funding PLC | Ludgate Funding PLC |
|  4.055% due 12/01/2060 •  |  | 958 | 1257 |
|  Mansard Mortgages PLC | Mansard Mortgages PLC | Mansard Mortgages PLC | Mansard Mortgages PLC |
|  4.043% due 04/15/2047 •  |  | 210 | 276 |
|  MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust | MASTR Adjustable Rate Mortgages Trust |
|  5.598% due 11/21/2034 ~ | $— | 220 | 219 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.293% due 11/25/2035 •  |  | 54 | 52 |
|  4.883% due 01/25/2029 •  |  | 17 | 17 |
|  Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
|  3.436% due 12/15/2049 |  | 472 | 470 |
|  New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
|  6.864% due 10/25/2063 þ |  | 271 | 273 |
|  NYMT Loan Trust | NYMT Loan Trust | NYMT Loan Trust | NYMT Loan Trust |
|  3.750% due 02/25/2068 ~ |  | 399 | 370 |
|  OBX Trust | OBX Trust | OBX Trust | OBX Trust |
|  3.703% due 04/25/2053 ~ |  | 343 | 341 |
|  Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC |
|  3.900% due 10/25/2063 ~ |  | 756 | 723 |
|  PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
|  3.750% due 03/25/2054 þ |  | 429 | 420 |
|  PRPM Trust | PRPM Trust | PRPM Trust | PRPM Trust |
|  6.265% due 12/25/2068 þ |  | 296 | 298 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Resloc U.K. PLC | Resloc U.K. PLC | Resloc U.K. PLC |
|  2.310% due 12/15/2043 •  | 2042 | 2301 |
|  Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust | Structured Adjustable Rate Mortgage Loan Trust |
|  4.841% due 09/25/2034 ~ | 326 | 322 |
|  Towd Point Mortgage Funding - Granite 6 PLC | Towd Point Mortgage Funding - Granite 6 PLC | Towd Point Mortgage Funding - Granite 6 PLC |
|  4.669% due 07/20/2053 •  | 312 | 413 |
|  Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
|  2.900% due 10/25/2059 ~ | 800 | 770 |
|  4.337% due 02/25/2055 ~ | 500 | 485 |
|  UWM Mortgage Trust | UWM Mortgage Trust | UWM Mortgage Trust |
|  2.500% due 11/25/2051 ~ | 895 | 747 |
|  WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust | WaMu Mortgage Pass-Through Certificates Trust |
|  4.333% due 07/25/2045 •  | 53 | 52 |
|  4.373% due 10/25/2045 •  | 918 | 894 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $15,951) | Total Non-Agency Mortgage-Backed Securities (Cost $15,951) | 15701 |
| ASSET-BACKED SECURITIES 1.5% | ASSET-BACKED SECURITIES 1.5% | ASSET-BACKED SECURITIES 1.5% |
| AUTOMOBILE SEQUENTIAL 0.2% | AUTOMOBILE SEQUENTIAL 0.2% | AUTOMOBILE SEQUENTIAL 0.2% |
|  Citizens Auto Receivables Trust | Citizens Auto Receivables Trust | Citizens Auto Receivables Trust |
|  5.840% due 01/18/2028 | 138 | 138 |
|  Ford Credit Auto Lease Trust | Ford Credit Auto Lease Trust | Ford Credit Auto Lease Trust |
|  5.050% due 06/15/2027 | 500 | 501 |
|  |  | 639 |
| HOME EQUITY OTHER 0.5% | HOME EQUITY OTHER 0.5% | HOME EQUITY OTHER 0.5% |
|  Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust | Countrywide Asset-Backed Certificates Trust |
|  4.333% due 12/25/2034 •  | 1105 | 1084 |
|  Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |
|  4.588% due 09/25/2035 •  | 10 | 10 |
|  RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
|  4.795% due 09/25/2055 þ | 357 | 354 |
|  Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust | Wells Fargo Home Equity Asset-Backed Securities Trust |
|  4.793% due 10/25/2034 •  | 375 | 390 |
|  |  | 1838 |
| OTHER ABS 0.8% | OTHER ABS 0.8% | OTHER ABS 0.8% |
|  GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust |
|  5.320% due 03/25/2060 | 600 | 610 |
|  Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
|  4.670% due 06/22/2065 | 359 | 355 |
|  5.023% due 06/22/2065 •  | 269 | 271 |
|  5.873% due 02/20/2041 •  | 212 | 216 |
|  Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
|  6.258% due 10/15/2031 | 110 | 110 |
|  PEAC Solutions Receivables LLC | PEAC Solutions Receivables LLC | PEAC Solutions Receivables LLC |
|  4.940% due 10/20/2028 | 408 | 411 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.122% due 03/15/2056 •  | 594 | 600 |
|  5.240% due 03/15/2056 | 223 | 225 |
|  |  | 2798 |
|  Total Asset-Backed Securities (Cost $5,236) | Total Asset-Backed Securities (Cost $5,236) | 5275 |
| SOVEREIGN ISSUES 6.4% | SOVEREIGN ISSUES 6.4% | SOVEREIGN ISSUES 6.4% |
|  Australia Government Bonds | Australia Government Bonds | Australia Government Bonds |
|  2.750% due 06/21/2035 | 1300 | 752 |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.250% due 12/01/2034 | 445 | 317 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  5.375% due 01/21/2029 | 200 | 198 |
|  Colombia TES | Colombia TES | Colombia TES |
|  11.000% due 08/22/2029 | 2282800 | 576 |
|  11.750% due 01/24/2035 | 4047300 | 1004 |
|  12.750% due 11/28/2040 | 2543100 | 674 |
|  13.250% due 02/09/2033 | 1992700 | 534 |
|  European Union | European Union | European Union |
|  2.875% due 10/05/2029 | 1200 | 1387 |
|  Japan Government Forty Year Bonds | Japan Government Forty Year Bonds | Japan Government Forty Year Bonds |
|  2.200% due 03/20/2064 | 66000 | 288 |
|  Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds | Japan Government Thirty Year Bonds |
|  2.100% due 09/20/2054 | 9450 | 43 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.300% due 12/20/2054 |  | 114050 | 546 |
|  2.400% due 03/20/2055 |  | 137700 | 673 |
|  2.800% due 06/20/2055 |  | 80000 | 427 |
|  3.200% due 09/20/2055 |  | 161000 | 933 |
|  Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds | Japan Government Twenty Year Bonds |
|  2.000% due 12/20/2044 |  | 140000 | 733 |
|  2.400% due 03/20/2045 |  | 82100 | 457 |
|  2.700% due 09/20/2045 |  | 7450 | 43 |
|  Kuwait International Government Bonds | Kuwait International Government Bonds | Kuwait International Government Bonds | Kuwait International Government Bonds |
|  4.016% due 10/09/2028 | $— | 200 | 197 |
|  4.136% due 10/09/2030 |  | 200 | 196 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  6.000% due 05/07/2036 |  | 200 | 199 |
|  6.875% due 05/13/2037 |  | 600 | 630 |
|  New South Wales Treasury Corp. | New South Wales Treasury Corp. | New South Wales Treasury Corp. | New South Wales Treasury Corp. |
|  1.750% due 03/20/2034 |  | 700 | 369 |
|  4.750% due 02/20/2037 |  | 100 | 64 |
|  Peru Government Bonds | Peru Government Bonds | Peru Government Bonds | Peru Government Bonds |
|  6.850% due 08/12/2035 |  | 650 | 191 |
|  7.300% due 08/12/2033 |  | 6380 | 2009 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.375% due 02/08/2035 | $— | 500 | 500 |
|  6.150% due 08/12/2032 |  | 3540 | 1064 |
|  6.950% due 08/12/2031 |  | 722 | 225 |
|  Province of Quebec | Province of Quebec | Province of Quebec | Province of Quebec |
|  4.450% due 09/01/2034 |  | 1500 | 1126 |
|  Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. |
|  1.500% due 08/20/2032 |  | 500 | 276 |
|  4.500% due 08/22/2035 |  | 100 | 64 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  3.000% due 02/27/2027 | $— | 900 | 883 |
|  Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds |
|  4.125% due 01/12/2029 |  | 1100 | 1086 |
|  4.750% due 01/16/2030 |  | 500 | 500 |
|  5.125% due 01/13/2028 |  | 400 | 404 |
|  Treasury Corp. of Victoria | Treasury Corp. of Victoria | Treasury Corp. of Victoria | Treasury Corp. of Victoria |
|  2.000% due 11/20/2037 |  | 200 | 93 |
|  2.250% due 09/15/2033 |  | 300 | 167 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  3.750% due 10/22/2053 |  | 600 | 593 |
|  4.375% due 07/31/2054 |  | 1714 | 1889 |
|  Total Sovereign Issues (Cost $23,102) | Total Sovereign Issues (Cost $23,102) | Total Sovereign Issues (Cost $23,102) | 22310 |
|  | **SHARES** | **SHARES** |  |
| COMMON STOCKS 0.3% | COMMON STOCKS 0.3% | COMMON STOCKS 0.3% | COMMON STOCKS 0.3% |
| INDUSTRIALS 0.3% | INDUSTRIALS 0.3% | INDUSTRIALS 0.3% | INDUSTRIALS 0.3% |
|  Drillco Holdings Luxembourg SA «(f) |  | 22807 | 524 |
|  Foresea Holdings SA « |  | 17243 | 397 |
|  Total Common Stocks (Cost $801) | Total Common Stocks (Cost $801) | Total Common Stocks (Cost $801) | 921 |
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** |  |
| SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% | SHORT-TERM INSTRUMENTS 0.6% |
| COMMERCIAL PAPER 0.5% | COMMERCIAL PAPER 0.5% | COMMERCIAL PAPER 0.5% | COMMERCIAL PAPER 0.5% |
|  Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
|  4.180% due 04/16/2026 | $— | 900 | 898 |
|  Phillips 66 | Phillips 66 | Phillips 66 | Phillips 66 |
|  4.050% due 04/08/2026 |  | 900 | 899 |
|  |  |  | 1797 |
|  | **SHARES** | **SHARES** |  |
| MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% | MUTUAL FUNDS 0.1% |
|  State Street Institutional U.S. Government Money Market Fund, Premier Class (e) |  | 537736 | 538 |
| Total Short-Term Instruments<br>(Cost $2,336) | Total Short-Term Instruments<br>(Cost $2,336) | Total Short-Term Instruments<br>(Cost $2,336) | 2335 |
| Total Investments in Securities<br>(Cost $443,313) | Total Investments in Securities<br>(Cost $443,313) | Total Investments in Securities<br>(Cost $443,313) | 433389 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 217

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV | (Cont.) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **MARKET<br>VALUE<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN AFFILIATES 4.3% | INVESTMENTS IN AFFILIATES 4.3% | INVESTMENTS IN AFFILIATES 4.3% | INVESTMENTS IN AFFILIATES 4.3% |
| SHORT-TERM INSTRUMENTS 4.3% | SHORT-TERM INSTRUMENTS 4.3% | SHORT-TERM INSTRUMENTS 4.3% | SHORT-TERM INSTRUMENTS 4.3% |
| CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3% | CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3% |
|  PIMCO Short-Term Floating NAV Portfolio III | 1552561 | $— | 15120 |
| Total Short-Term Instruments<br>(Cost $15,115) | Total Short-Term Instruments<br>(Cost $15,115) |  | 15120 |
| Total Investments in Affiliates<br>(Cost $15,115) | Total Investments in Affiliates<br>(Cost $15,115) |  | 15120 |
| Total Investments 127.9%<br>(Cost $458,428) |  | $— | 448509 |
|  Financial Derivative<br>Instruments (g)(i) 0.3%<br> (Cost or Premiums, net $(95)) | Financial Derivative<br>Instruments (g)(i) 0.3%<br> (Cost or Premiums, net $(95)) |  | 900 |
| Other Assets and Liabilities, net (28.2)% | Other Assets and Liabilities, net (28.2)% |  | (98852) |
| Net Assets 100.0% |  | $— | 350557 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| ~ | 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) Principal only security.

(b) When-issued security.

(c) Zero coupon security.

(d) Principal amount of security is adjusted for inflation.

(e) Coupon represents a 7-Day Yield.

&nbsp;&nbsp;&nbsp;&nbsp;(f) RESTRICTED SECURITIES:

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| | | | | |
|:---|:---|:---|:---|:---|
| Issuer Description | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
|  Drillco Holdings Luxembourg SA | 06/08/2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | 0.15% |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS

#### SHORT SALES:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon | Maturity<br>Date | Principal<br>Amount | Proceeds | Payable for<br>Short Sales |
|  U.S. Government Agencies (0.7)% | U.S. Government Agencies (0.7)% | U.S. Government Agencies (0.7)% | U.S. Government Agencies (0.7)% | U.S. Government Agencies (0.7)% | U.S. Government Agencies (0.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 3.000% | 06/01/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | $(1488) | $(1491) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA | 5.000 | 04/01/2056 | 1000 | (987) | (986) |
|  Total Short Sales (0.7)% |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2475) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2477) |

---

**The average amount of borrowings outstanding during the period ended March 31, 2026 was $(69) at a weighted average interest rate of 4.205%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** 

---

| | | |
|:---|:---|:---|
| **218** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;(g) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SONIA March Futures  | 06/2027 | 11 | $3481 | $5 | $4 | $0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 50 | 3717 | (18) | 35 | 0 |
|  Canada Government 10-Year Bond June Futures  | 06/2026 | 26 | 2243 | (45) | 9 | 0 |
|  Long Guilt June Futures  | 06/2026 | 53 | 6159 | (317) | 46 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 66 | 13691 | (82) | 5 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 214 | 23150 | (242) | 29 | (1) |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35535 | (641) | 75 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 2 | 227 | (2) | 1 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1342) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  Euro-Bund June Futures  | 06/2026 | 56 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8116) | $217 | $0 | $(59) |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 33 | (3847) | 129 | 0 | (7) |
|  |  |  |  | $346 | $0 | $(66) |
|  Total Futures Contracts |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(996) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Variation Margin | Variation Margin |
| Reference Entity | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Asset | Liability |
|  AT&T, Inc. | 1.000% | Quarterly | 06/20/2028 | 0.395% | $1800 | $(11) | $35 | $24 | $1 | $0 |
|  Boeing Co. | 1.000 | Quarterly | 06/20/2026 | 0.213 | 600 | 2 | (1) | 1 | 0 | 0 |
|  Boeing Co. | 1.000 | Quarterly | 12/20/2027 | 0.385 | 600 | (4) | 10 | 6 | 0 | 0 |
|  Boeing Co. | 1.000 | Quarterly | 06/20/2029 | 0.524 | 300 | (2) | 7 | 5 | 0 | 0 |
|  Boeing Co. | 1.000 | Quarterly | 06/20/2031 | 0.773 | 500 | 7 | (1) | 6 | 1 | 0 |
|  Ford Motor Co. | 5.000 | Quarterly | 12/20/2028 | 1.166 | 600 | 66 | (6) | 60 | 0 | 0 |
|  T-Mobile USA, Inc. | 5.000 | Quarterly | 06/20/2028 | 0.255 | 400 | 69 | (28) | 41 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(4)</sup>** | Variation Margin | Variation Margin |
| **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value<sup>(4)</sup>** | Asset | Liability |
|  CDX.IG-46 5-Year Index | 1.000% | Quarterly | 06/20/2031 | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14600 | $255 | $2 | $257 | $30 | $0 |
|  CDX.iTraxx Crossover 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 |  | 600 | 12 | (2) | 10 | 1 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | **Notional<br>Amount** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
|  Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000% | Annual | 09/16/2036 | 3700 | $117 | $77 | $194 | $0 | $(15) |
|  Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 09/16/2056 | 310 | 15 | 6 | 21 | 0 | (2) |
|  Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 0.450 | Semi-Annual | 03/20/2029 | 10000 | 4 | (6) | (2) | 0 | 0 |
|  Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 06/18/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | (124) | 251 | 127 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
|  Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2027 | $9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 600 | (5) | 3 | (2) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 5200 | (97) | 66 | (31) | 0 | (5) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 400 | 0 | 4 | 4 | 0 | 0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 400 | 0 | 3 | 3 | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **219** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV | (Cont.) |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.422% | Annual | 08/31/2030 | $200 | $0 | $1 | $1 | $0 | $0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 10/31/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.572 | Annual | 10/31/2030 | 2500 | 0 | 6 | 6 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.582 | Annual | 10/31/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.585 | Annual | 10/31/2030 | 4600 | 0 | 8 | 8 | 0 | (5) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 6800 | 0 | (21) | (21) | 0 | (7) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 | 300 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 500 | 0 | (2) | (2) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 300 | 0 | (1) | (1) | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 500 | 0 | (3) | (3) | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2031 | 1200 | (7) | 14 | 7 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 04/30/2031 | 2025 | 0 | 2 | 2 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 4449 | (4) | (9) | (13) | 0 | (5) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.564 | Annual | 01/31/2033 | 200 | 0 | 2 | 2 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.687 | Annual | 08/15/2033 | 5100 | 0 | 28 | 28 | 0 | (6) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.709 | Annual | 08/15/2033 | 1800 | 0 | 7 | 7 | 0 | (2) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.717 | Annual | 08/15/2033 | 760 | 0 | 3 | 3 | 0 | (1) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.718 | Annual | 08/15/2033 | 3200 | 0 | 10 | 10 | 0 | (4) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.763 | Annual | 08/15/2033 | 3000 | 0 | 0 | 0 | 0 | (3) |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 | 200 | 0 | 3 | 3 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 | 200 | 0 | 2 | 2 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 | 426 | 1 | 3 | 4 | 0 | 0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.712 | Annual | 11/15/2035 | 200 | 0 | 2 | 2 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 | 200 | 0 | 3 | 3 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.755 | Annual | 02/15/2036 | 400 | 0 | 3 | 3 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 | 700 | (21) | 13 | (8) | 0 | (1) |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | 11/15/2053 | 100 | 0 | 2 | 2 | 0 | 0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | 11/15/2053 | 100 | 0 | 2 | 2 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 7800 | 237 | 645 | 882 | 28 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.765 | Annual | 12/17/2054 | 400 | 0 | 26 | 26 | 2 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/18/2054 | 1000 | 19 | 90 | 109 | 4 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.642 | Annual | 02/15/2055 | 300 | 0 | 26 | 26 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 02/15/2055 | 100 | 0 | 8 | 8 | 0 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 02/15/2055 | 200 | 0 | 11 | 11 | 1 | 0 |
|  Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2055 | 300 | 29 | 18 | 47 | 1 | 0 |
|  Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 1600 | 25 | 13 | 38 | 6 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 | 1000 | (16) | (5) | (21) | 8 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 03/20/2034 | 800 | (23) | 5 | (18) | 6 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 | 3200 | (13) | (66) | (79) | 26 | 0 |
|  Pay | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 03/19/2035 | 1000 | (1) | (51) | (52) | 8 | 0 |
|  Receive | 6-Month EUR-EURIBOR | 2.050 | Annual | 10/05/2029 | 200 | 0 | 4 | 4 | 0 | (1) |
|  Receive | 6-Month EUR-EURIBOR | 2.056 | Annual | 10/05/2029 | 400 | 0 | 8 | 8 | 0 | (1) |
|  Receive | 6-Month EUR-EURIBOR | 2.063 | Annual | 10/05/2029 | 600 | 0 | 12 | 12 | 0 | (2) |
|  Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12360 | (55) | (395) | (450) | 109 | 0 |
|  Receive<sup>(5)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 2450 | 48 | 14 | 62 | 0 | (27) |
|  Pay | 28-Day MXN-TIIE | 9.430 | Lunar | 04/06/2029 | 4700 | 0 | 10 | 10 | 1 | 0 |
|  Pay | 28-Day MXN-TIIE | 7.750 | Lunar | 04/01/2030 | 4100 | 0 | (2) | (2) | 1 | 0 |
|  Receive | CAONREPO | 3.500 | Semi-Annual | 06/01/2032 | 2600 | (26) | (37) | (63) | 0 | (5) |
|  Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2033 | 300 | 1 | (1) | 0 | 0 | (1) |
|  Receive | CAONREPO | 2.740 | Semi-Annual | 06/01/2034 | 200 | 0 | 4 | 4 | 0 | 0 |
|  Receive | CAONREPO | 3.000 | Semi-Annual | 06/01/2034 | 1700 | 2 | 5 | 7 | 0 | (3) |
|  |  |  |  |  |  | $(489) | $1031 | $542 | $205 | $(115) |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | | Market Value | Variation Margin<br>Liability | Variation Margin<br>Liability | |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | Total | Written<br>Options | Futures | Swap<br>Agreements | Total |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182) |

---

(h) Securities with an aggregate market value of $3,022 and cash of $3,407 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

---

| | | |
|:---|:---|:---|
| **220** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

<sup>(1)</sup> 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. 

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(i) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | Currency to<br>be Received | Unrealized Appreciation/<br>(Depreciation) | Unrealized Appreciation/<br>(Depreciation) |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | Currency to<br>be Received | Asset | Liability |
|  AZD | 04/2026 | 5934 | $4332 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | $0 |
|  BOA | 04/2026 | 166 | 24 | 0 | 0 |
|  | 04/2026 | 17767 | 189 | 2 | 0 |
|  | 04/2026 | 820 | 642 | 4 | 0 |
|  | 04/2026 | $30 | 207 | 0 | 0 |
|  | 04/2026 | 433 | 40293 | 0 | (6) |
|  | 04/2026 | 430 | 1587 | 0 | (2) |
|  | 06/2026 | 831 | $269 | 4 | 0 |
|  BPS | 04/2026 | 114 | 81 | 2 | 0 |
|  | 04/2026 | 899 | 130 | 0 | 0 |
|  | 04/2026 | 741 | 240 | 4 | 0 |
|  | 04/2026 | 61254 | 651 | 2 | 0 |
|  | 04/2026 | 14344 | 448 | 12 | 0 |
|  | 04/2026 | $505 | 8553854 | 0 | (1) |
|  | 04/2026 | 177 | 560 | 1 | 0 |
|  | 04/2026 | 1321 | 123161 | 3 | (16) |
|  | 04/2026 | 30 | 44473 | 0 | 0 |
|  | 04/2026 | 34 | 122 | 0 | (1) |
|  | 04/2026 | 0 | 2 | 0 | 0 |
|  | 04/2026 | 83 | 2660 | 0 | 0 |
|  | 05/2026 | 560 | $177 | 0 | (1) |
|  | 05/2026 | 1740 | 54 | 0 | 0 |
|  | 06/2026 | 20 | 0 | 0 | 0 |
|  | 06/2026 | $1364 | 22960399 | 0 | (14) |
|  BRC | 04/2026 | 21 | 203 | 0 | 0 |
|  | 04/2026 | 33 | 119 | 0 | (1) |
|  | 04/2026 | 186 | 1686 | 0 | (8) |
|  | 05/2026 | 354 | 1814 | 1 | 0 |
|  BSH | 04/2026 | $4791 | 3599 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) |
|  | 04/2026 | 562 | 89761 | 3 | 0 |
|  | 04/2026 | 2055 | 3560 | 0 | (9) |
|  | 04/2026 | 975 | 3528 | 0 | (25) |
|  | 05/2026 | 3599 | $4791 | 27 | 0 |
|  | 05/2026 | 89490 | 562 | 0 | (3) |
|  | 05/2026 | 3560 | 2057 | 10 | 0 |
|  CBK | 04/2026 | 1174147 | 309 | 0 | (11) |
|  | 04/2026 | 302 | 349 | 0 | 0 |
|  | 04/2026 | 433 | 581 | 8 | 0 |
|  | 04/2026 | 135597 | 1451 | 19 | 0 |
|  | 04/2026 | 3 | 0 | 0 | 0 |
|  | 04/2026 | $97 | 670 | 0 | 0 |
|  | 04/2026 | 425 | 319 | 0 | (3) |
|  | 04/2026 | 3530 | 325348 | 3 | (86) |
|  | 04/2026 | 0 | 8 | 0 | 0 |
|  | 06/2026 | 1331470 | $352 | 0 | (5) |
|  | 06/2026 | 505324 | 30 | 0 | 0 |
|  | 06/2026 | 1351 | 438 | 8 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **221** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV | (Cont.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 06/2026 | $85 | 1424771 | $0 | $(1) |
|  | 06/2026 | 629 | 11297 | 0 | (2) |
|  | 07/2026 | 1700 | $492 | 6 | 0 |
|  | 09/2026 | 571 | 165 | 2 | 0 |
|  DUB | 04/2026 | 1920 | 280 | 2 | 0 |
|  | 04/2026 | 1496 | 483 | 7 | 0 |
|  | 04/2026 | 50368 | 533 | 2 | (1) |
|  | 04/2026 | $2162 | 3151 | 12 | 0 |
|  | 04/2026 | 117 | 813 | 1 | 0 |
|  | 04/2026 | 553 | 52291 | 4 | (1) |
|  | 04/2026 | 3859 | 4929 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) |
|  | 04/2026 | 116 | 3784 | 0 | (1) |
|  | 05/2026 | 3151 | $2161 | 0 | (13) |
|  | 05/2026 | 811 | 117 | 0 | (1) |
|  | 05/2026 | 354 | 1815 | 1 | 0 |
|  | 05/2026 | 4918 | $3859 | 25 | 0 |
|  | 06/2026 | 3776 | 116 | 1 | 0 |
|  | 07/2026 | 1218 | 360 | 12 | 0 |
|  FAR | 04/2026 | 1023 | 725 | 19 | 0 |
|  | 04/2026 | 1446 | 1874 | 65 | 0 |
|  | 04/2026 | 3485 | 4710 | 97 | 0 |
|  | 04/2026 | 35011 | 224 | 4 | 0 |
|  | 04/2026 | 1684 | 178 | 1 | 0 |
|  | 04/2026 | $2007 | 1599 | 0 | (7) |
|  | 04/2026 | 700 | 111761 | 4 | 0 |
|  | 04/2026 | 37 | 133 | 0 | (1) |
|  | 04/2026 | 21 | 27 | 0 | 0 |
|  | 05/2026 | 1593 | $2007 | 7 | 0 |
|  | 05/2026 | 931 | 294 | 0 | (2) |
|  | 05/2026 | 111423 | 700 | 0 | (4) |
|  | 05/2026 | 27 | 21 | 0 | 0 |
|  | 05/2026 | $178 | 1681 | 0 | (1) |
|  | 06/2026 | 592 | $192 | 3 | 0 |
|  | 06/2026 | 1670 | 490 | 12 | 0 |
|  | 07/2026 | 1002 | 296 | 10 | 0 |
|  | 08/2026 | 1318 | 390 | 13 | 0 |
|  GLM | 04/2026 | 802 | 258 | 3 | 0 |
|  | 04/2026 | 4536 | 50 | 2 | 0 |
|  | 04/2026 | 5720 | 176 | 2 | 0 |
|  | 04/2026 | $84 | 578 | 0 | 0 |
|  | 04/2026 | 7 | 116744 | 0 | 0 |
|  | 04/2026 | 240 | 7837 | 0 | (2) |
|  | 06/2026 | 382174 | $100 | 0 | (2) |
|  | 06/2026 | 667714 | 39 | 0 | 0 |
|  | 06/2026 | 2112 | 64 | 0 | 0 |
|  | 06/2026 | $102 | 1724179 | 0 | (1) |
|  IND | 04/2026 | 7883 | $9308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | 0 |
|  JPM | 04/2026 | 465 | 341 | 6 | 0 |
|  | 04/2026 | 138 | 20 | 0 | 0 |
|  | 04/2026 | 28113 | 299 | 2 | 0 |
|  | 04/2026 | 44497 | 29 | 0 | 0 |
|  | 04/2026 | 118 | 69 | 1 | 0 |
|  | 04/2026 | 4136 | 3282 | 65 | 0 |
|  | 04/2026 | $124 | 855 | 1 | 0 |
|  | 04/2026 | 299 | 28161 | 1 | 0 |
|  | 04/2026 | 29 | 44490 | 0 | 0 |
|  | 04/2026 | 3638 | 65149 | 0 | (8) |
|  | 05/2026 | 853 | $124 | 0 | (1) |
|  | 06/2026 | 223 | 73 | 2 | 0 |
|  MBC | 04/2026 | 365 | 256 | 4 | 0 |
|  | 04/2026 | 154 | 197 | 5 | 0 |
|  | 04/2026 | 354 | 411 | 1 | 0 |
|  | 04/2026 | 6953601 | 409 | 0 | (1) |
|  | 04/2026 | 37905 | 244 | 5 | 0 |
|  | 04/2026 | 9193 | 940 | 0 | (10) |
|  | 04/2026 | 663 | 390 | 9 | 0 |
|  | 04/2026 | 11766 | 375 | 18 | 0 |
|  | 04/2026 | $312 | 49807 | 2 | 0 |
|  | 04/2026 | 650 | 951533 | 0 | (17) |

---

---

| | | |
|:---|:---|:---|
| **222** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $343 | 3309 | $0 | $(2) |
|  | 05/2026 | 49657 | $312 | 0 | (2) |
|  | 05/2026 | $940 | 9194 | 10 | 0 |
|  | 06/2026 | 409 | 6970043 | 1 | 0 |
|  MYI | 04/2026 | 391 | 340 | 2 | 0 |
|  | 05/2026 | 41 | 396 | 0 | 0 |
|  | 06/2026 | 337592 | $20 | 0 | 0 |
|  NGF | 04/2026 | $592 | 5688 | 0 | (4) |
|  SCX | 04/2026 | 27534 | $176 | 3 | 0 |
|  | 04/2026 | 2779 | 1661 | 65 | 0 |
|  | 04/2026 | 314 | 10 | 0 | 0 |
|  | 04/2026 | $4628 | 6407 | 0 | (22) |
|  | 04/2026 | 248 | 22488 | 0 | (11) |
|  | 04/2026 | 246 | 7865 | 0 | (1) |
|  | 05/2026 | 6398 | $4628 | 22 | 0 |
|  | 06/2026 | 123008 | 32 | 0 | (1) |
|  | 06/2026 | $138 | 2309211 | 0 | (2) |
|  | 07/2026 | 922256 | $239 | 0 | (6) |
|  SOG | 04/2026 | 151870 | 976 | 19 | 0 |
|  | 04/2026 | $9462 | 8199 | 15 | 0 |
|  | 05/2026 | 8199 | $9477 | 0 | (15) |
|  | 06/2026 | 558 | 181 | 3 | 0 |
|  | 06/2026 | 2948 | 875 | 31 | 0 |
|  | 07/2026 | 2111 | 624 | 21 | 0 |
|  SSB | 04/2026 | 1649 | 1174 | 36 | 0 |
|  | 08/2026 | 2149985 | 564 | 0 | (4) |
|  UAG | 04/2026 | $186 | 692530 | 2 | 0 |
|  | 04/2026 | 610 | 2205 | 0 | (16) |
|  | 06/2026 | 702746 | $186 | 0 | (2) |
|  | 06/2026 | 814 | 264 | 4 | 0 |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(1)</sup> |
|  AZD | $66 | $0 | $0 | $66 | $0 | $0 | $0 | $0 | $66 | $0 | $66 |
|  BOA | 10 | 0 | 0 | 10 | (8) | 0 | 0 | (8) | 2 | 0 | 2 |
|  BPS | 24 | 0 | 0 | 24 | (33) | 0 | 0 | (33) | (9) | 0 | (9) |
|  BRC | 1 | 0 | 0 | 1 | (9) | 0 | 0 | (9) | (8) | 0 | (8) |
|  BSH | 40 | 0 | 0 | 40 | (64) | 0 | 0 | (64) | (24) | 0 | (24) |
|  CBK | 46 | 0 | 0 | 46 | (108) | 0 | 0 | (108) | (62) | 0 | (62) |
|  DUB | 67 | 0 | 0 | 67 | (42) | 0 | 0 | (42) | 25 | 0 | 25 |
|  FAR | 235 | 0 | 0 | 235 | (15) | 0 | 0 | (15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | (260) | (40) |
|  GLM | 7 | 0 | 0 | 7 | (5) | 0 | 0 | (5) | 2 | 0 | 2 |
|  IND | 197 | 0 | 0 | 197 | 0 | 0 | 0 | 0 | 197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83) |
|  JPM | 78 | 0 | 0 | 78 | (9) | 0 | 0 | (9) | 69 | 0 | 69 |
|  MBC | 55 | 0 | 0 | 55 | (32) | 0 | 0 | (32) | 23 | 0 | 23 |
|  MYI | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 2 | 0 | 2 |
|  NGF | 0 | 0 | 0 | 0 | (4) | 0 | 0 | (4) | (4) | 0 | (4) |
|  SCX | 90 | 0 | 0 | 90 | (43) | 0 | 0 | (43) | 47 | 0 | 47 |
|  SOG | 89 | 0 | 0 | 89 | (15) | 0 | 0 | (15) | 74 | 0 | 74 |
|  SSB | 36 | 0 | 0 | 36 | (4) | 0 | 0 | (4) | 32 | 0 | 32 |
|  UAG | 6 | 0 | 0 | 6 | (18) | 0 | 0 | (18) | (12) | 0 | (12) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409) |  |  |  |

---

<sup>(1)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **223** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund IV | (Cont.) |

---

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $204 | $204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 33 | 0 | 0 | 205 | 238 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | $0 | $0 | $409 | $442 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $1049 | $0 | $1049 |
|  | $0 | $33 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | $409 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $67 | $67 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 115 | 115 |
|  | $0 | $0 | $0 | $0 | $182 | $182 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $409 | $0 | $409 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** | **Derivatives not accounted for as hedging instruments** |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $1708 | $1708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 157 | 0 | 0 | 455 | 612 |
|  | $0 | $157 | $0 | $0 | $2163 | $2320 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(1513) | $0 | $(1513) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (1) | 0 | 0 | 0 | (1) |
|  | $0 | $(1) | $0 | $(1513) | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1514) |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1513) | $2163 | $806 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $(2009) | $(2009) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (5) | 0 | 0 | 560 | 555 |
|  | $0 | $(5) | $0 | $0 | $(1449) | $(1454) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $880 | $0 | $880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 1 | 0 | 0 | 0 | 1 |
|  | $0 | $1 | $0 | $880 | $0 | $881 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1449) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(573) |

---

224 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| &nbsp;&nbsp; Banking & Finance | $0 | $77427 | $0 | $77427 |
| &nbsp;&nbsp; Industrials | 0 | 53849 | 0 | 53849 |
| &nbsp;&nbsp; Utilities | 0 | 24835 | 0 | 24835 |
|  Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| &nbsp;&nbsp; Arizona | 0 | 369 | 0 | 369 |
| &nbsp;&nbsp; Louisiana | 0 | 796 | 0 | 796 |
| &nbsp;&nbsp; Texas | 0 | 406 | 0 | 406 |
| &nbsp;&nbsp; West Virginia | 0 | 915 | 0 | 915 |
|  U.S. Government Agencies | 0 | 156813 | 0 | 156813 |
|  U.S. Treasury Obligations | 0 | 71437 | 0 | 71437 |
|  Non-Agency Mortgage-Backed Securities | 0 | 15701 | 0 | 15701 |
|  Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| &nbsp;&nbsp; Automobile Sequential | 0 | 639 | 0 | 639 |
| &nbsp;&nbsp; Home Equity Other | 0 | 1838 | 0 | 1838 |
| &nbsp;&nbsp; Other ABS | 0 | 2798 | 0 | 2798 |
|  Sovereign Issues | 0 | 22310 | 0 | 22310 |
|  Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| &nbsp;&nbsp; Industrials | 0 | 0 | 921 | 921 |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Commercial Paper | 0 | 1797 | 0 | 1797 |
| &nbsp;&nbsp; Mutual Funds | 538 | 0 | 0 | 538 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431930 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433389 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value | Investments in Affiliates, at Value |
|  Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| &nbsp;&nbsp; Central Funds Used for Cash Management Purposes | $15120 | $0 | $0 | $15120 |
|  Total Investments | $15658 | $431930 | $921 | $448509 |
|  Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities | Short Sales, at Value - Liabilities |
|  U.S. Government Agencies | $0 | $(2477) | $0 | $(2477) |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | 94 | 348 | 0 | 442 |
|  Over the counter | 0 | 1049 | 0 | 1049 |
|  | $94 | $1397 | $0 | $1491 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | (59) | (123) | 0 | (182) |
|  Over the counter | 0 | (409) | 0 | (409) |
|  | $(59) | $(532) | $0 | $(591) |
|  Total Financial Derivative Instruments | $35 | $865 | $0 | $900 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15693 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430318 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446932 |

---

There were no significant transfers into or out of Level 3 during the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **225** |

---

------

---

| | |
|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V |

---

#### (Amounts in thousands\*, except number of shares, contracts, units and ounces, if any)

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
| INVESTMENTS IN SECURITIES 116.8% | INVESTMENTS IN SECURITIES 116.8% | INVESTMENTS IN SECURITIES 116.8% |
| CORPORATE BONDS & NOTES 32.2% | CORPORATE BONDS & NOTES 32.2% | CORPORATE BONDS & NOTES 32.2% |
| BANKING & FINANCE 16.6% | BANKING & FINANCE 16.6% | BANKING & FINANCE 16.6% |
|  ABN AMRO Bank NV | ABN AMRO Bank NV | ABN AMRO Bank NV |
|  2.470% due 12/13/2029 •  | 800 | 757 |
|  Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. |
|  2.000% due 05/18/2032 | 15 | 13 |
|  Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
|  7.100% due 11/15/2027 | 300 | 311 |
|  American Express Co. | American Express Co. | American Express Co. |
|  5.085% due 01/30/2031 •  | 500 | 509 |
|  American Homes 4 Rent LP | American Homes 4 Rent LP | American Homes 4 Rent LP |
|  5.500% due 02/01/2034 | 800 | 808 |
|  Athene Global Funding | Athene Global Funding | Athene Global Funding |
|  4.684% (SOFRINDX + 1.030%) due 08/27/2026 ~ | 500 | 501 |
|  Banco Santander SA | Banco Santander SA | Banco Santander SA |
|  5.294% due 08/18/2027 | 400 | 404 |
|  6.527% due 11/07/2027 •  | 400 | 405 |
|  Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
|  4.948% due 07/22/2028 •  | 500 | 503 |
|  5.202% due 04/25/2029 •  | 1800 | 1826 |
|  6.204% due 11/10/2028 •  | 780 | 802 |
|  Bank of New York Mellon Corp. | Bank of New York Mellon Corp. | Bank of New York Mellon Corp. |
|  4.026% due 01/22/2030 •  | 400 | 396 |
|  Barclays PLC | Barclays PLC | Barclays PLC |
|  4.521% due 02/24/2032 •  | 700 | 685 |
|  6.490% due 09/13/2029 •  | 1400 | 1458 |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |
|  1.675% due 06/30/2027 •  | 1000 | 993 |
|  BPCE SA | BPCE SA | BPCE SA |
|  2.045% due 10/19/2027 •  | 300 | 296 |
|  7.003% due 10/19/2034 •  | 400 | 437 |
|  Brandywine Operating Partnership LP | Brandywine Operating Partnership LP | Brandywine Operating Partnership LP |
|  3.950% due 11/15/2027 | 100 | 96 |
|  8.300% due 03/15/2028 | 100 | 102 |
|  Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. | Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. | Brookfield Finance I U.K. PLC/Brookfield Finance, Inc. |
|  2.340% due 01/30/2032 | 1900 | 1635 |
|  Brookfield Finance, Inc. | Brookfield Finance, Inc. | Brookfield Finance, Inc. |
|  2.724% due 04/15/2031 | 15 | 14 |
|  Citibank NA | Citibank NA | Citibank NA |
|  4.876% due 11/19/2027 •  | 800 | 803 |
|  Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
|  4.075% due 04/23/2029 •  | 600 | 596 |
|  4.658% due 05/24/2028 •  | 1100 | 1102 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
|  4.656% due 01/12/2032 •  | 300 | 296 |
|  CTP NV | CTP NV | CTP NV |
|  3.625% due 03/10/2031 | 1300 | 1461 |
|  Danske Bank AS | Danske Bank AS | Danske Bank AS |
|  4.999% due 03/27/2032 •  | 1000 | 1003 |
|  Digital Dutch Finco BV | Digital Dutch Finco BV | Digital Dutch Finco BV |
|  1.500% due 03/15/2030 | 600 | 636 |
|  Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC | Equinix Europe 2 Financing Corp. LLC |
|  4.600% due 11/15/2030 | 400 | 396 |
|  Equitable Financial Life Global Funding | Equitable Financial Life Global Funding | Equitable Financial Life Global Funding |
|  1.300% due 07/12/2026 | 15 | 15 |
|  European Investment Bank | European Investment Bank | European Investment Bank |
|  3.750% due 02/14/2033 | 15 | 15 |
|  Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
|  4.125% due 08/17/2027 | 1300 | 1284 |
|  7.350% due 11/04/2027 | 900 | 929 |
|  Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
|  3.691% due 06/05/2028 •  | 600 | 595 |
|  4.516% due 01/21/2032 •  | 3700 | 3645 |
|  5.727% due 04/25/2030 •  | 800 | 825 |
|  6.484% due 10/24/2029 •  | 200 | 209 |
|  Golub Capital BDC, Inc. | Golub Capital BDC, Inc. | Golub Capital BDC, Inc. |
|  7.050% due 12/05/2028 | 300 | 307 |
|  Goodman U.S. Finance Five LLC | Goodman U.S. Finance Five LLC | Goodman U.S. Finance Five LLC |
|  4.625% due 05/04/2032 | 615 | 605 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. | HA Sustainable Infrastructure Capital, Inc. |
|  6.000% due 03/15/2036 | 300 | 291 |
|  6.150% due 01/15/2031 | 500 | 510 |
|  6.375% due 07/01/2034 | 200 | 201 |
|  Host Hotels & Resorts LP | Host Hotels & Resorts LP | Host Hotels & Resorts LP |
|  2.900% due 12/15/2031 | 58 | 52 |
|  3.375% due 12/15/2029 | 750 | 713 |
|  3.500% due 09/15/2030 | 1300 | 1223 |
|  HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
|  5.887% due 08/14/2027 •  | 1900 | 1909 |
|  ING Groep NV | ING Groep NV | ING Groep NV |
|  6.083% due 09/11/2027 •  | 1500 | 1509 |
|  Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. | Jones Lang LaSalle, Inc. |
|  6.875% due 12/01/2028 | 200 | 211 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
|  3.509% due 01/23/2029 •  | 1100 | 1083 |
|  4.586% (SOFRRATE + 0.920%) due 04/22/2028 ~ | 300 | 301 |
|  5.299% due 07/24/2029 •  | 1300 | 1324 |
|  5.571% due 04/22/2028 •  | 200 | 202 |
|  5.581% due 04/22/2030 •  | 200 | 206 |
|  KEB Hana Bank | KEB Hana Bank | KEB Hana Bank |
|  5.375% due 04/23/2027 | 300 | 304 |
|  Kilroy Realty LP | Kilroy Realty LP | Kilroy Realty LP |
|  2.500% due 11/15/2032 | 900 | 733 |
|  2.650% due 11/15/2033 | 400 | 318 |
|  4.750% due 12/15/2028 | 100 | 99 |
|  KODIT Global Co. Ltd. | KODIT Global Co. Ltd. | KODIT Global Co. Ltd. |
|  5.357% due 05/29/2027 | 300 | 303 |
|  Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
|  4.241% due 02/10/2030 •  | 700 | 693 |
|  Manulife Financial Corp. | Manulife Financial Corp. | Manulife Financial Corp. |
|  3.703% due 03/16/2032 | 15 | 14 |
|  MassMutual Global Funding II | MassMutual Global Funding II | MassMutual Global Funding II |
|  4.000% due 01/22/2029 | 400 | 396 |
|  Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. | Mizuho Financial Group, Inc. |
|  5.382% due 07/10/2030 •  | 400 | 409 |
|  5.778% due 07/06/2029 •  | 200 | 206 |
|  Morgan Stanley | Morgan Stanley | Morgan Stanley |
|  4.133% due 10/18/2029 •  | 700 | 692 |
|  4.493% due 01/16/2032 •  | 2800 | 2754 |
|  4.687% (SOFRRATE + 1.020%) due 04/13/2028 ~ | 500 | 502 |
|  5.230% due 01/15/2031 •  | 400 | 406 |
|  5.652% due 04/13/2028 •  | 200 | 202 |
|  5.656% due 04/18/2030 •  | 200 | 206 |
|  6.407% due 11/01/2029 •  | 300 | 313 |
|  Morgan Stanley Bank NA | Morgan Stanley Bank NA | Morgan Stanley Bank NA |
|  4.352% (SOFRRATE + 0.685%) due 10/15/2027 ~ | 400 | 400 |
|  5.504% due 05/26/2028 •  | 250 | 253 |
|  Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding | Mutual of Omaha Cos Global Funding |
|  4.750% due 10/15/2029 | 400 | 401 |
|  Nationwide Building Society | Nationwide Building Society | Nationwide Building Society |
|  6.557% due 10/18/2027 •  | 300 | 303 |
|  NatWest Markets PLC | NatWest Markets PLC | NatWest Markets PLC |
|  4.654% due 03/27/2029 | 1000 | 1003 |
|  Nomura Holdings, Inc. | Nomura Holdings, Inc. | Nomura Holdings, Inc. |
|  6.070% due 07/12/2028 | 1600 | 1651 |
|  Norinchukin Bank | Norinchukin Bank | Norinchukin Bank |
|  2.080% due 09/22/2031 | 1100 | 952 |
|  5.094% due 10/16/2029 | 400 | 405 |
|  Pacific Life Global Funding II | Pacific Life Global Funding II | Pacific Life Global Funding II |
|  4.850% due 02/10/2030 | 800 | 807 |
|  Prologis LP | Prologis LP | Prologis LP |
|  4.200% due 02/15/2033 | 700 | 502 |
|  RGA Global Funding | RGA Global Funding | RGA Global Funding |
|  2.700% due 01/18/2029 | 900 | 855 |
|  6.000% due 11/21/2028 | 300 | 310 |
|  Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC | Santander U.K. Group Holdings PLC |
|  4.320% due 09/22/2029 •  | 1000 | 991 |
|  6.534% due 01/10/2029 •  | 500 | 516 |
|  Standard Chartered PLC | Standard Chartered PLC | Standard Chartered PLC |
|  5.005% due 10/15/2030 •  | 400 | 404 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. | Sumitomo Mitsui Financial Group, Inc. |
|  2.472% due 01/14/2029 | 430 | 408 |
|  Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. | Takeoff Merger Sub, Inc. |
|  4.850% due 03/24/2031 | 400 | 395 |
|  Toronto-Dominion Bank | Toronto-Dominion Bank | Toronto-Dominion Bank |
|  5.264% due 12/11/2026 | 300 | 302 |
|  UBS Group AG | UBS Group AG | UBS Group AG |
|  4.194% due 04/01/2031 •  | 700 | 685 |
|  4.588% due 08/10/2032 •  | 1400 | 1376 |
|  5.617% due 09/13/2030 •  | 600 | 619 |
|  6.246% due 09/22/2029 •  | 1000 | 1039 |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
|  4.182% due 01/23/2030 •  | 700 | 694 |
|  |  | 61229 |
| INDUSTRIALS 7.4% | INDUSTRIALS 7.4% | INDUSTRIALS 7.4% |
|  Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC | Abu Dhabi National Energy Co. PJSC |
|  4.750% due 03/09/2037 | 400 | 378 |
|  AP Moller - Maersk AS | AP Moller - Maersk AS | AP Moller - Maersk AS |
|  5.875% due 09/14/2033 | 500 | 523 |
|  Beignet Investor LLC | Beignet Investor LLC | Beignet Investor LLC |
|  6.581% due 05/30/2049 | 3500 | 3601 |
|  BMW U.S. Capital LLC | BMW U.S. Capital LLC | BMW U.S. Capital LLC |
|  4.300% due 03/17/2028 | 600 | 600 |
|  5.050% due 03/21/2030 | 500 | 506 |
|  CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. | CDW LLC/CDW Finance Corp. |
|  3.250% due 02/15/2029 | 1400 | 1334 |
|  Centene Corp. | Centene Corp. | Centene Corp. |
|  3.000% due 10/15/2030 | 500 | 439 |
|  3.375% due 02/15/2030 | 1100 | 994 |
|  Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
|  5.750% due 08/01/2035 | 1500 | 1504 |
|  Coty, Inc. | Coty, Inc. | Coty, Inc. |
|  4.500% due 05/15/2027 | 300 | 347 |
|  Denso Corp. | Denso Corp. | Denso Corp. |
|  4.420% due 09/11/2029 | 700 | 699 |
|  Ferguson Finance PLC | Ferguson Finance PLC | Ferguson Finance PLC |
|  3.250% due 06/02/2030 | 800 | 754 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  2.899% (EUR003M + 0.850%) due 03/10/2028 ~ | 600 | 694 |
|  Gartner, Inc. | Gartner, Inc. | Gartner, Inc. |
|  4.950% due 03/20/2031 | 2400 | 2342 |
|  Hanwha Q Cells Americas Holdings Corp. | Hanwha Q Cells Americas Holdings Corp. | Hanwha Q Cells Americas Holdings Corp. |
|  5.000% due 07/27/2028 | 300 | 305 |
|  Hyundai Capital America | Hyundai Capital America | Hyundai Capital America |
|  4.250% due 01/08/2029 | 1700 | 1682 |
|  4.600% due 04/06/2028 (a) | 100 | 100 |
|  JDE Peet's NV | JDE Peet's NV | JDE Peet's NV |
|  0.500% due 01/16/2029 | 200 | 211 |
|  1.125% due 06/16/2033 | 200 | 185 |
|  2.250% due 09/24/2031 | 500 | 435 |
|  Marriott International, Inc. | Marriott International, Inc. | Marriott International, Inc. |
|  4.500% due 10/15/2031 | 600 | 593 |
|  Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC | Mercedes-Benz Finance North America LLC |
|  4.900% due 11/15/2027 | 500 | 505 |
|  Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. |
|  4.625% due 07/03/2031 | 500 | 370 |
|  MSCI, Inc. | MSCI, Inc. | MSCI, Inc. |
|  3.625% due 09/01/2030 | 1600 | 1513 |
|  NTT Finance Corp. | NTT Finance Corp. | NTT Finance Corp. |
|  5.502% due 07/16/2035 | 800 | 812 |
|  NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. |
|  2.500% due 05/11/2031 | 600 | 539 |
|  3.400% due 05/01/2030 | 15 | 14 |
|  Oracle Corp. | Oracle Corp. | Oracle Corp. |
|  4.200% due 09/27/2029 | 400 | 388 |
|  4.550% due 02/04/2029 | 800 | 790 |
|  Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC | Smurfit Kappa Treasury ULC |
|  5.200% due 01/15/2030 | 300 | 306 |
|  Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC | Smurfit Westrock Financing DAC |
|  5.185% due 01/15/2036 | 700 | 689 |
|  5.418% due 01/15/2035 | 500 | 505 |

---

---

| | | |
|:---|:---|:---|
| **226** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Snam SpA | Snam SpA | Snam SpA |
|  5.000% due 05/28/2030 | 600 | 606 |
|  VF Corp. | VF Corp. | VF Corp. |
|  2.950% due 04/23/2030 | 500 | 446 |
|  Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC | Vmed O2 U.K. Financing I PLC |
|  7.750% due 04/15/2032 | 200 | 192 |
|  Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
|  4.850% due 09/11/2030 | 200 | 198 |
|  5.650% due 03/25/2032 | 1400 | 1422 |
|  |  | 27521 |
| UTILITIES 8.2% | UTILITIES 8.2% | UTILITIES 8.2% |
|  AES Corp. | AES Corp. | AES Corp. |
|  2.450% due 01/15/2031 | 300 | 266 |
|  5.450% due 06/01/2028 | 700 | 707 |
|  Ameren Missouri Securitization Funding I LLC | Ameren Missouri Securitization Funding I LLC | Ameren Missouri Securitization Funding I LLC |
|  4.850% due 10/01/2041 | 578 | 577 |
|  Avangrid, Inc. | Avangrid, Inc. | Avangrid, Inc. |
|  3.800% due 06/01/2029 | 400 | 390 |
|  Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC | Dhafrah Pv2 Energy Co. LLC |
|  5.794% due 06/30/2053 | 500 | 486 |
|  Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
|  3.950% due 11/15/2028 | 500 | 496 |
|  Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC |
|  2.500% due 12/01/2029 | 625 | 586 |
|  EDP Finance BV | EDP Finance BV | EDP Finance BV |
|  1.710% due 01/24/2028 | 2200 | 2089 |
|  ENEL Finance International NV | ENEL Finance International NV | ENEL Finance International NV |
|  2.500% due 07/12/2031 | 1250 | 1111 |
|  4.625% due 06/15/2027 | 500 | 501 |
|  Eversource Energy | Eversource Energy | Eversource Energy |
|  4.450% due 12/15/2030 | 700 | 691 |
|  Georgia Power Co. | Georgia Power Co. | Georgia Power Co. |
|  3.250% due 04/01/2026 | 775 | 775 |
|  Hanwha Energy USA Holdings Corp. | Hanwha Energy USA Holdings Corp. | Hanwha Energy USA Holdings Corp. |
|  4.375% due 07/02/2028 | 400 | 401 |
|  Interstate Power & Light Co. | Interstate Power & Light Co. | Interstate Power & Light Co. |
|  4.100% due 09/26/2028 | 1100 | 1092 |
|  MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. |
|  3.150% due 04/15/2050 | 700 | 463 |
|  3.650% due 04/15/2029 | 450 | 442 |
|  National Rural Utilities Cooperative Finance Corp. | National Rural Utilities Cooperative Finance Corp. | National Rural Utilities Cooperative Finance Corp. |
|  1.350% due 03/15/2031 | 400 | 342 |
|  New York State Electric & Gas Corp. | New York State Electric & Gas Corp. | New York State Electric & Gas Corp. |
|  5.300% due 08/15/2034 | 600 | 609 |
|  5.650% due 08/15/2028 | 500 | 513 |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
|  1.900% due 06/15/2028 | 1850 | 1755 |
|  Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. | Niagara Mohawk Power Corp. |
|  1.960% due 06/27/2030 | 800 | 720 |
|  NSTAR Electric Co. | NSTAR Electric Co. | NSTAR Electric Co. |
|  3.250% due 05/15/2029 | 1000 | 968 |
|  3.950% due 04/01/2030 | 870 | 855 |
|  Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
|  3.500% due 05/15/2031 | 300 | 345 |
|  Pacific Gas & Electric Co. | Pacific Gas & Electric Co. | Pacific Gas & Electric Co. |
|  3.000% due 06/15/2028 | 900 | 871 |
|  5.050% due 10/15/2032 | 600 | 596 |
|  6.700% due 04/01/2053 | 1265 | 1311 |
|  Public Service Co. of Colorado | Public Service Co. of Colorado | Public Service Co. of Colorado |
|  3.700% due 06/15/2028 | 700 | 691 |
|  Public Service Co. of Oklahoma | Public Service Co. of Oklahoma | Public Service Co. of Oklahoma |
|  2.200% due 08/15/2031 | 875 | 768 |
|  Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. |
|  5.875% due 10/15/2028 | 1500 | 1549 |
|  Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. | Renew Treasury Ifsc Pvt Ltd. |
|  6.500% due 02/02/2031 | 400 | 389 |
|  ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries | ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries | ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries |
|  4.500% due 07/14/2028 | 600 | 566 |
|  RWE Finance U.S. LLC | RWE Finance U.S. LLC | RWE Finance U.S. LLC |
|  5.125% due 09/18/2035 | 1600 | 1556 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  San Diego Gas & Electric Co. | San Diego Gas & Electric Co. | San Diego Gas & Electric Co. |
|  4.950% due 08/15/2028 | 1400 | 1423 |
|  Solar Star Funding LLC | Solar Star Funding LLC | Solar Star Funding LLC |
|  5.375% due 06/30/2035 | 259 | 261 |
|  Southern California Edison Co. | Southern California Edison Co. | Southern California Edison Co. |
|  2.500% due 06/01/2031 | 1275 | 1139 |
|  2.750% due 02/01/2032 | 300 | 268 |
|  3.450% due 02/01/2052 | 200 | 131 |
|  4.125% due 03/01/2048 | 100 | 75 |
|  5.250% due 03/15/2030 | 300 | 305 |
|  Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. |
|  3.750% due 06/15/2049 | 200 | 145 |
|  Wisconsin Electric Power Co. | Wisconsin Electric Power Co. | Wisconsin Electric Power Co. |
|  4.750% due 09/30/2032 | 300 | 302 |
|  Wisconsin Power & Light Co. | Wisconsin Power & Light Co. | Wisconsin Power & Light Co. |
|  4.950% due 04/01/2033 | 300 | 301 |
|  5.375% due 03/30/2034 | 300 | 305 |
|  |  | 30132 |
|  Total Corporate Bonds & Notes (Cost $118,404) | Total Corporate Bonds & Notes (Cost $118,404) | 118882 |
| U.S. GOVERNMENT AGENCIES 39.6% | U.S. GOVERNMENT AGENCIES 39.6% | U.S. GOVERNMENT AGENCIES 39.6% |
|  Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
|  4.000% due 09/01/2052 - 12/01/2052 | 5139 | 4867 |
|  4.500% due 08/01/2053 | 3821 | 3698 |
|  5.000% due 06/01/2053 - 07/01/2053 | 8124 | 8043 |
|  5.500% due 10/01/2053 - 12/01/2054 | 27190 | 27355 |
|  Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
|  4.562% due 10/25/2055 •  | 362 | 364 |
|  4.662% due 06/25/2055 •  | 399 | 402 |
|  4.962% due 01/25/2055 •  | 401 | 404 |
|  Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
|  4.000% due 12/01/2052 | 8174 | 7751 |
|  4.300% due 12/01/2032 | 2500 | 2480 |
|  4.500% due 07/01/2052 - 07/01/2053 | 10233 | 9920 |
|  5.000% due 05/01/2053 - 04/01/2054 | 15580 | 15439 |
|  Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
|  4.842% due 08/25/2055 •  | 463 | 467 |
|  Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
|  4.133% due 10/20/2060 •  | 21 | 21 |
|  4.303% due 09/20/2065 •  | 370 | 370 |
|  Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
|  4.000% due 05/01/2056 | 2300 | 2153 |
|  4.500% due 06/01/2040 - 05/01/2056 | 2300 | 2219 |
|  5.000% due 05/01/2056 | 2600 | 2570 |
|  6.000% due 05/01/2056 | 940 | 955 |
|  Tennessee Valley Authority | Tennessee Valley Authority | Tennessee Valley Authority |
|  1.500% due 09/15/2031 | 60 | 53 |
|  Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
|  4.000% due 06/01/2056 | 2430 | 2288 |
|  4.500% due 04/01/2056 - 06/01/2056 | 27700 | 26714 |
|  5.000% due 05/01/2056 | 3100 | 3054 |
|  5.500% due 05/01/2056 | 16096 | 16149 |
|  6.000% due 06/01/2056 | 8140 | 8286 |
|  Total U.S. Government Agencies (Cost $145,314) | Total U.S. Government Agencies (Cost $145,314) | 146022 |
| U.S. TREASURY OBLIGATIONS 21.8% | U.S. TREASURY OBLIGATIONS 21.8% | U.S. TREASURY OBLIGATIONS 21.8% |
|  U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
|  1.375% due 08/15/2050 | 500 | 245 |
|  1.625% due 11/15/2050 | 3100 | 1618 |
|  1.750% due 08/15/2041 | 600 | 401 |
|  1.875% due 02/15/2051 | 9860 | 5477 |
|  1.875% due 11/15/2051 | 775 | 426 |
|  2.000% due 11/15/2041 | 600 | 415 |
|  2.000% due 02/15/2050 | 2300 | 1340 |
|  2.000% due 08/15/2051 | 2525 | 1439 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  2.250% due 05/15/2041 | $— | 14673 | 10698 |
|  2.250% due 08/15/2049 |  | 4243 | 2640 |
|  2.375% due 11/15/2049 |  | 790 | 503 |
|  2.375% due 05/15/2051 |  | 735 | 460 |
|  2.875% due 05/15/2049 |  | 2900 | 2063 |
|  3.000% due 02/15/2048 |  | 700 | 516 |
|  3.000% due 08/15/2048 |  | 400 | 294 |
|  3.000% due 02/15/2049 |  | 1600 | 1169 |
|  3.125% due 05/15/2048 |  | 600 | 452 |
|  3.250% due 05/15/2042 |  | 100 | 82 |
|  3.375% due 11/15/2048 |  | 900 | 706 |
|  3.625% due 05/15/2053 |  | 2500 | 2005 |
|  3.750% due 08/15/2041 |  | 10027 | 8946 |
|  3.875% due 05/15/2043 |  | 500 | 443 |
|  4.000% due 11/15/2042 |  | 306 | 277 |
|  4.250% due 08/15/2054 |  | 600 | 537 |
|  4.375% due 05/15/2041 |  | 489 | 471 |
|  4.375% due 08/15/2043 |  | 1507 | 1423 |
|  4.500% due 11/15/2054 |  | 1300 | 1215 |
|  4.625% due 05/15/2044 |  | 300 | 291 |
|  4.625% due 11/15/2055 |  | 9300 | 8887 |
|  4.750% due 08/15/2055 |  | 1575 | 1535 |
|  4.875% due 08/15/2045 |  | 1108 | 1105 |
|  U.S. Treasury Inflation Protected Securities (b) | U.S. Treasury Inflation Protected Securities (b) | U.S. Treasury Inflation Protected Securities (b) | U.S. Treasury Inflation Protected Securities (b) |
|  0.125% due 02/15/2051 |  | 3747 | 1995 |
|  0.125% due 02/15/2052 |  | 1051 | 546 |
|  0.250% due 02/15/2050 |  | 126 | 72 |
|  0.750% due 02/15/2045 |  | 414 | 298 |
|  0.875% due 02/15/2047 |  | 135 | 96 |
|  1.000% due 02/15/2048 |  | 185 | 133 |
|  1.500% due 02/15/2053 |  | 514 | 394 |
|  2.125% due 02/15/2054 |  | 563 | 497 |
|  2.375% due 02/15/2055 |  | 2164 | 2014 |
|  0.125% due 01/15/2030 (e) |  | 5562 | 5325 |
|  1.250% due 04/15/2028 |  | 217 | 218 |
|  U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
|  4.125% due 02/15/2036 |  | 710 | 699 |
|  4.250% due 08/15/2035 |  | 99 | 99 |
|  4.625% due 02/15/2035 |  | 9500 | 9749 |
|  Total U.S. Treasury Obligations (Cost $82,912) | Total U.S. Treasury Obligations (Cost $82,912) | Total U.S. Treasury Obligations (Cost $82,912) | 80214 |
| NON-AGENCY MORTGAGE-BACKED SECURITIES 1.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 1.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 1.5% | NON-AGENCY MORTGAGE-BACKED SECURITIES 1.5% |
|  Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
|  3.976% due 07/15/2051 |  | 70 | 70 |
|  4.077% due 07/15/2051 |  | 979 | 975 |
|  Project Cashmere | Project Cashmere | Project Cashmere | Project Cashmere |
|  4.543% due 12/30/2057 «(a) |  | 5700 | 3933 |
|  VASA Trust | VASA Trust | VASA Trust | VASA Trust |
|  4.687% due 07/15/2039 •  | $— | 500 | 491 |
|  Total Non-Agency Mortgage-Backed Securities (Cost $5,217) | Total Non-Agency Mortgage-Backed Securities (Cost $5,217) | Total Non-Agency Mortgage-Backed Securities (Cost $5,217) | 5469 |
| ASSET-BACKED SECURITIES 5.8% | ASSET-BACKED SECURITIES 5.8% | ASSET-BACKED SECURITIES 5.8% | ASSET-BACKED SECURITIES 5.8% |
| AUTOMOBILE SEQUENTIAL 0.7% | AUTOMOBILE SEQUENTIAL 0.7% | AUTOMOBILE SEQUENTIAL 0.7% | AUTOMOBILE SEQUENTIAL 0.7% |
|  BMW Vehicle Lease Trust | BMW Vehicle Lease Trust | BMW Vehicle Lease Trust | BMW Vehicle Lease Trust |
|  4.430% due 06/26/2028 |  | 1000 | 1004 |
|  4.980% due 03/25/2027 |  | 107 | 107 |
|  Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC |
|  4.650% due 10/20/2027 |  | 864 | 867 |
|  FHF Issuer Trust | FHF Issuer Trust | FHF Issuer Trust | FHF Issuer Trust |
|  5.690% due 02/15/2030 |  | 188 | 189 |
|  5.890% due 06/15/2030 |  | 118 | 119 |
|  6.790% due 10/15/2029 |  | 105 | 106 |
|  Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust |
|  5.330% due 01/16/2029 |  | 248 | 250 |
|  |  |  | 2642 |
| CMBS OTHER 0.7% | CMBS OTHER 0.7% | CMBS OTHER 0.7% | CMBS OTHER 0.7% |
|  ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC | ACRES Commercial Realty Issuer LLC |
|  0.000% due 08/18/2044 •  |  | 700 | 700 |
|  GS REFT Issuer Ltd. | GS REFT Issuer Ltd. | GS REFT Issuer Ltd. | GS REFT Issuer Ltd. |
|  5.170% due 04/19/2043 •  |  | 500 | 501 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **227** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V | (Cont.) |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  MF1 LLC | MF1 LLC | MF1 LLC |
|  5.000% due 02/18/2040 •  | 1200 | 1197 |
|  |  | 2398 |
| OTHER ABS 4.4% | OTHER ABS 4.4% | OTHER ABS 4.4% |
|  ARES European CLO XIV DAC | ARES European CLO XIV DAC | ARES European CLO XIV DAC |
|  3.063% due 10/21/2034 •  | 170 | 197 |
|  Capital Four CLO IV DAC | Capital Four CLO IV DAC | Capital Four CLO IV DAC |
|  3.175% due 04/15/2038 •  | 1400 | 1613 |
|  Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. | Fortress Credit BSL X Ltd. |
|  4.768% due 04/20/2033 •  | 498 | 498 |
|  Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. | Golub Capital Partners CLO 50B-R Ltd. |
|  4.778% due 04/20/2035 •  | 800 | 800 |
|  GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust |
|  6.500% due 07/20/2055 | 385 | 377 |
|  GreatAmerica Leasing Receivables Funding LLC | GreatAmerica Leasing Receivables Funding LLC | GreatAmerica Leasing Receivables Funding LLC |
|  4.520% due 10/15/2027 | 948 | 951 |
|  GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust | GreenSky Home Improvement Issuer Trust |
|  5.320% due 03/25/2060 | 1400 | 1424 |
|  Harvest CLO XVI DAC | Harvest CLO XVI DAC | Harvest CLO XVI DAC |
|  3.336% due 10/15/2038 •  | 1300 | 1502 |
|  Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. | Jamestown CLO XVI Ltd. |
|  4.788% due 07/25/2034 •  | 700 | 701 |
|  LCM 34 Ltd. | LCM 34 Ltd. | LCM 34 Ltd. |
|  4.848% due 10/20/2034 •  | 750 | 751 |
|  Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. | Loanpal Solar Loan Ltd. |
|  2.470% due 12/20/2047 | 26 | 21 |
|  Mosaic Solar Loan Trust | Mosaic Solar Loan Trust | Mosaic Solar Loan Trust |
|  5.910% due 11/20/2053 | 95 | 92 |
|  Mountain View CLO LLC | Mountain View CLO LLC | Mountain View CLO LLC |
|  4.547% due 04/14/2033 •  | 1000 | 999 |
|  PEAC Solutions Receivables LLC | PEAC Solutions Receivables LLC | PEAC Solutions Receivables LLC |
|  4.940% due 10/20/2028 | 980 | 985 |
|  Post Road Equipment Finance LLC | Post Road Equipment Finance LLC | Post Road Equipment Finance LLC |
|  4.900% due 05/15/2031 | 981 | 988 |
|  Romark CLO - IV Ltd. | Romark CLO - IV Ltd. | Romark CLO - IV Ltd. |
|  4.790% due 07/10/2034 •  | 900 | 901 |
|  SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
|  5.240% due 03/15/2056 | 519 | 525 |
|  Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC | Sunnova Hestia I Issuer LLC |
|  5.750% due 12/20/2050 | 343 | 337 |
|  Switch ABS Issuer LLC | Switch ABS Issuer LLC | Switch ABS Issuer LLC |
|  5.121% due 10/25/2055 | 1100 | 1076 |
|  Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust | Tesla Sustainable Energy Trust |
|  5.080% due 06/21/2050 | 361 | 361 |
|  THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. | THL Credit Wind River CLO Ltd. |
|  4.872% due 04/15/2035 •  | 800 | 801 |

---

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL<br>AMOUNT<br>(000S)** | **MARKET<br>VALUE<br>(000S)** |
|  Wind River CLO Ltd. | Wind River CLO Ltd. | Wind River CLO Ltd. |
|  4.778% due 07/20/2034 •  | 300 | 300 |
|  |  | 16200 |
|  Total Asset-Backed Securities (Cost $21,269) | Total Asset-Backed Securities (Cost $21,269) | 21240 |
| SOVEREIGN ISSUES 4.1% | SOVEREIGN ISSUES 4.1% | SOVEREIGN ISSUES 4.1% |
|  Australia Government Bonds | Australia Government Bonds | Australia Government Bonds |
|  2.750% due 06/21/2035 | 1100 | 636 |
|  BNG Bank NV | BNG Bank NV | BNG Bank NV |
|  4.750% due 02/01/2030 | 600 | 617 |
|  Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
|  3.250% due 12/01/2034 | 417 | 297 |
|  Chile Government International Bonds | Chile Government International Bonds | Chile Government International Bonds |
|  4.850% due 01/22/2029 | 500 | 507 |
|  Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
|  5.375% due 01/21/2029 | 200 | 198 |
|  Costa Rica Government International Bonds | Costa Rica Government International Bonds | Costa Rica Government International Bonds |
|  6.001% due 01/16/2036 | 250 | 298 |
|  Development Bank of Japan, Inc. | Development Bank of Japan, Inc. | Development Bank of Japan, Inc. |
|  5.125% due 09/01/2026 | 500 | 502 |
|  European Union | European Union | European Union |
|  1.250% due 02/04/2043 | 100 | 79 |
|  2.500% due 12/04/2031 | 100 | 112 |
|  2.875% due 10/05/2029 | 900 | 1040 |
|  Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
|  3.875% due 05/16/2031 | 1100 | 1242 |
|  4.490% due 05/25/2032 | 300 | 345 |
|  Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV | Nederlandse Waterschapsbank NV |
|  4.000% due 06/01/2028 | 200 | 201 |
|  Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
|  5.400% due 08/12/2034 | 1400 | 382 |
|  6.150% due 08/12/2032 | 4530 | 1361 |
|  6.950% due 08/12/2031 | 801 | 249 |
|  Province of Quebec | Province of Quebec | Province of Quebec |
|  4.450% due 09/01/2034 | 1100 | 826 |
|  Queensland Treasury Corp. | Queensland Treasury Corp. | Queensland Treasury Corp. |
|  1.500% due 08/20/2032 | 500 | 276 |
|  4.500% due 08/22/2035 | 100 | 64 |
|  Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
|  5.625% due 02/22/2036 | 400 | 444 |
|  Treasury Corp. of Victoria | Treasury Corp. of Victoria | Treasury Corp. of Victoria |
|  2.000% due 11/20/2037 | 300 | 140 |
|  2.250% due 09/15/2033 | 300 | 167 |
|  U.K. Gilts | U.K. Gilts | U.K. Gilts |
|  3.750% due 03/07/2027 | 2800 | 3685 |
|  4.375% due 07/31/2054 | 1248 | 1376 |
|  Total Sovereign Issues (Cost $14,942) | Total Sovereign Issues (Cost $14,942) | 15044 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000S) | MARKET<br>VALUE<br>(000S) |
| SHORT-TERM INSTRUMENTS 11.8% | SHORT-TERM INSTRUMENTS 11.8% | SHORT-TERM INSTRUMENTS 11.8% |
| COMMERCIAL PAPER 3.9% | COMMERCIAL PAPER 3.9% | COMMERCIAL PAPER 3.9% |
|  Air Lease Corp. | Air Lease Corp. | Air Lease Corp. |
|  4.320% due 04/02/2026 | 900 | 900 |
|  4.400% due 04/14/2026 | 900 | 898 |
|  Boston Properties LP | Boston Properties LP | Boston Properties LP |
|  4.200% due 04/27/2026 | 900 | 897 |
|  Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
|  4.120% due 04/09/2026 | 900 | 899 |
|  4.180% due 04/16/2026 | 1800 | 1797 |
|  4.300% due 04/21/2026 | 900 | 898 |
|  Edison International | Edison International | Edison International |
|  4.380% due 04/27/2026 | 900 | 897 |
|  ERAC USA Finance LLC | ERAC USA Finance LLC | ERAC USA Finance LLC |
|  4.150% due 04/24/2026 | 900 | 897 |
|  Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. |
|  4.170% due 04/23/2026 | 900 | 898 |
|  4.170% due 04/24/2026 | 900 | 898 |
|  Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
|  4.200% due 04/01/2026 | 900 | 900 |
|  4.220% due 04/02/2026 | 900 | 900 |
|  4.250% due 04/06/2026 | 900 | 899 |
|  Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. |
|  3.970% due 04/15/2026 | 300 | 299 |
|  4.300% due 05/01/2026 | 900 | 897 |
|  4.320% due 04/28/2026 | 600 | 598 |
|  |  | 14372 |
| REPURCHASE AGREEMENTS (c) 7.9% | REPURCHASE AGREEMENTS (c) 7.9% | REPURCHASE AGREEMENTS (c) 7.9% |
|  |  | 29200 |
| Total Short-Term Instruments<br>(Cost $43,573) | Total Short-Term Instruments<br>(Cost $43,573) | 43572 |
| Total Investments in Securities<br>(Cost $431,631) | Total Investments in Securities<br>(Cost $431,631) | 430443 |
| Total Investments 116.8%<br>(Cost $431,631) | Total Investments 116.8%<br>(Cost $431,631) | 430443 |
|  Financial Derivative<br>Instruments (d)(f) 1.1%<br> (Cost or Premiums, net $4,134) | Financial Derivative<br>Instruments (d)(f) 1.1%<br> (Cost or Premiums, net $4,134) | 3987 |
| Other Assets and Liabilities, net (17.9)% | Other Assets and Liabilities, net (17.9)% | (65938) |
| Net Assets 100.0% | Net Assets 100.0% | 368492 |

---

#### NOTES TO SCHEDULE OF INVESTMENTS:
\* A zero balance may reflect actual amounts rounding to less than one thousand. 

« Security valued using significant unobservable inputs (Level 3).

---

| | |
|:---|:---|
| ~ | 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.

(a) When-issued security.

(b) Principal amount of security is adjusted for inflation.

---

| | | |
|:---|:---|:---|
| **228** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS
&nbsp;&nbsp;&nbsp;&nbsp;(c) REPURCHASE AGREEMENTS:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Lending<br>Rate | Settlement<br>Date | Maturity<br>Date | Principal<br>Amount | Collateralized By | Collateral<br>(Received) | Repurchase<br>Agreements,<br>at Value | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> |
| BOS | 3.690% | 03/31/2026 | 04/01/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29200 | U.S. Treasury Notes 2.375% due 03/31/2029 | $(29798) | $29200 | $29203 |
|  Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements | Total Repurchase Agreements |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29798) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29200 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29203 |

---

#### BORROWINGS AND OTHER FINANCING TRANSACTIONS SUMMARY
The following is a summary by counterparty of the market value of Borrowings and Other Financing Transactions and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Repurchase<br>Agreement<br>Proceeds<br>to be<br>Received<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Sale-Buyback<br>Transactions | Total<br>Borrowings and<br>Other Financing<br>Transactions | Collateral<br>Pledged/(Received) | Net Exposure<sup>(2)</sup> |
|  Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement | Global/Master Repurchase Agreement |
|  BOS | $29203 | $0 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29203 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29798) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595) |
|  Total Borrowings and Other Financing Transactions | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29203 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |  |  |

---

<sup>(1)</sup> Includes accrued interest.

<sup>(2)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from borrowings and other financing transactions can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

**The average amount of borrowings outstanding during the period ended March 31, 2026 was $(61) at a weighted average interest rate of 4.395%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period.** 

&nbsp;&nbsp;&nbsp;&nbsp;(d) FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED

#### FUTURES CONTRACTS:

#### LONG FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  3-Month SONIA March Futures  | 06/2027 | 22 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6962 | $10 | $9 | $0 |
|  Australia Government 10-Year Bond June Futures  | 06/2026 | 70 | 5204 | (21) | 49 | 0 |
|  Euro-Bund June Futures  | 06/2026 | 4 | 580 | (14) | 4 | 0 |
|  Long Guilt June Futures  | 06/2026 | 62 | 7204 | (373) | 54 | 0 |
|  U.S. Treasury 2-Year Note June Futures  | 06/2026 | 79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16388 | (101) | 6 | 0 |
|  U.S. Treasury 5-Year Note June Futures  | 06/2026 | 170 | 18391 | (168) | 23 | (1) |
|  U.S. Treasury 10-Year Note June Futures  | 06/2026 | 407 | 45196 | (817) | 95 | 0 |
|  U.S. Treasury 10-Year Ultra Long-Term Bond June Futures  | 06/2026 | 2 | 227 | (2) | 1 | 0 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1486) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |

---

#### SHORT FUTURES CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Variation Margin | Variation Margin |
| **Description** | **Expiration<br>Month** | **# of<br>Contracts** | **Notional<br>Amount** | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
|  U.S. Treasury Ultra Long-Term Bond June Futures  | 06/2026 | 16 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1865) | $62 | $0 | $(3) |
|  Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1424) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |

---

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(4)</sup>** | Variation Margin | Variation Margin |
| **Reference Entity** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | Implied<br>Credit Spread at<br>March 31, 2026<sup>(2)</sup> | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | **Market<br>Value<sup>(4)</sup>** | Asset | Liability |
|  Goldman Sachs Group, Inc. | 1.000% | Quarterly | 06/20/2026 | 0.312% | $500 | $3 | $(2) | $1 | $0 | $0 |
|  Morgan Stanley | 1.000 | Quarterly | 06/20/2026 | 0.303 | 300 | 2 | (1) | 1 | 0 | 0 |
|  Verizon Communications, Inc. | 1.000 | Quarterly | 12/20/2029 | 0.517 | 200 | 4 | (1) | 3 | 0 | 0 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

See Accompanying Notes ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 229

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V | (Cont.) |

---

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(1)</sup>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Variation Margin | Variation Margin |
| **Index/Tranches** | Fixed<br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value<sup>(4)</sup> | Asset | Liability |
|  CDX.HY-43 5-Year Index | 5.000% | Quarterly | 12/20/2029 | $693 | $52 | $(11) | $41 | $6 | $0 |
|  CDX.HY-44 5-Year Index | 5.000 | Quarterly | 06/20/2030 | 297 | 20 | (2) | 18 | 2 | 0 |
|  CDX.HY-46 5-Year Index | 5.000 | Quarterly | 06/20/2031 | 3100 | 115 | 39 | 154 | 28 | 0 |
|  CDX.IG-46 5-Year Index | 1.000 | Quarterly | 06/20/2031 | 12600 | 220 | 2 | 222 | 26 | 0 |
|  CDX.iTraxx Crossover 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 1400 | 38 | (14) | 24 | 2 | 0 |
|  CDX.iTraxx Europe Senior 44 5-Year Index | 1.000 | Quarterly | 12/20/2030 | 6100 | 154 | (59) | 95 | 9 | 0 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### INTEREST RATE SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay/ Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Variation Margin | Variation Margin |
| Pay/ Receive <br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Asset | Liability |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 3.700% | Annual | 03/28/2034 | 100 | $0 | $6 | $6 | $0 | $0 |
| Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.000 | Annual | 09/16/2036 | 3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | 80 | 199 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) |
| Receive<sup>(5)</sup> | 1-Day GBP-SONIO Compounded-OIS | 4.500 | Annual | 09/16/2056 | 310 | 15 | 6 | 21 | 0 | (2) |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 06/18/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | 28 | 2 | 30 | 0 | (3) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 2.000 | Annual | 06/18/2045 | 30000 | (20) | 0 | (20) | 1 | 0 |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 2.000 | Annual | 06/18/2055 | 20000 | (25) | 1 | (24) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.807 | Annual | 05/31/2028 | $900 | 0 | (1) | (1) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 300 | (1) | (2) | (3) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2030 | 3200 | 46 | 18 | 64 | 0 | (3) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.337 | Annual | 08/31/2030 | 400 | 0 | 4 | 4 | 0 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.369 | Annual | 08/31/2030 | 500 | 0 | 4 | 4 | 0 | (1) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.422 | Annual | 08/31/2030 | 200 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.691 | Annual | 10/31/2030 | 4900 | 0 | (15) | (15) | 0 | (5) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.722 | Annual | 10/31/2030 | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.727 | Annual | 10/31/2030 | 200 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.732 | Annual | 10/31/2030 | 200 | 0 | (1) | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.739 | Annual | 10/31/2030 | 300 | 0 | (2) | (2) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 03/18/2031 | 700 | (5) | 9 | 4 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.694 | Annual | 04/30/2031 | 1350 | 0 | 1 | 1 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 3236 | (3) | (6) | (9) | 0 | (4) |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.564 | Annual | 01/31/2033 | 200 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.717 | Annual | 08/15/2033 | 800 | 0 | 3 | 3 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.718 | Annual | 08/15/2033 | 1980 | 0 | 6 | 6 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.753 | Annual | 08/15/2033 | 500 | 0 | 0 | 0 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.754 | Annual | 08/15/2033 | 300 | 0 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.763 | Annual | 08/15/2033 | 1400 | 0 | 0 | 0 | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 08/05/2034 | 200 | (1) | 0 | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.795 | Annual | 08/06/2034 | 200 | (1) | 1 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/07/2034 | 80 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 200 | (1) | 0 | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 7900 | (59) | 23 | (36) | 0 | (8) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 200 | (1) | 0 | (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 200 | (1) | (1) | (2) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 | 400 | (1) | (2) | (3) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 | 200 | (1) | 0 | (1) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.836 | Annual | 05/02/2035 | 900 | (6) | 8 | 2 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.640 | Annual | 08/15/2035 | 300 | 1 | 4 | 5 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 08/15/2035 | 300 | 0 | 3 | 3 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/15/2035 | 535 | 1 | 4 | 5 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 200 | (1) | 6 | 5 | 0 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.712 | Annual | 11/15/2035 | 200 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 02/15/2036 | 200 | 0 | 3 | 3 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.755 | Annual | 02/15/2036 | 500 | 0 | 4 | 4 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.748 | Annual | 03/03/2036 | 500 | (1) | 6 | 5 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.775 | Annual | 03/03/2036 | 500 | (1) | 5 | 4 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 03/18/2036 | 400 | (13) | 8 | (5) | 0 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.010 | Annual | 11/15/2053 | 100 | 0 | 2 | 2 | 0 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | 11/15/2053 | 100 | 0 | 2 | 2 | 0 | 0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.083 | Annual | 11/15/2053 | 100 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/20/2054 | 1200 | 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.896 | Annual | 11/15/2054 | 1070 | 0 | 45 | 45 | 4 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.765 | Annual | 12/17/2054 | 300 | 0 | 19 | 19 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/18/2054 | 700 | 13 | 64 | 77 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.642 | Annual | 02/15/2055 | 200 | 0 | 17 | 17 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.655 | Annual | 02/15/2055 | 100 | 0 | 8 | 8 | 0 | 0 |

---

---

| | | |
|:---|:---|:---|
| **230** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/ Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Variation Margin** | **Variation Margin** |
| **Pay/ Receive <br>Floating Rate** | **Floating Rate Index** | **Fixed Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid/(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Market<br>Value** | **Asset** | **Liability** |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.807% | Annual | 02/15/2055 | $3800 | $63 | $154 | $217 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | $0 |
| Receive<sup>(5)</sup> | 1-Day USD-SOFR Compounded-OIS | 4.000 | Annual | 06/17/2056 | 1300 | 22 | 8 | 30 | 5 | 0 |
| Pay | 1-Year BRL-CDI | 11.407 | Maturity | 01/04/2027 | 11500 | (11) | (89) | (100) | 3 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 | 700 | (10) | (5) | (15) | 5 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 03/20/2034 | 500 | (15) | 3 | (12) | 4 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 | 900 | 4 | (26) | (22) | 8 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 03/19/2035 | 700 | (1) | (35) | (36) | 6 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 03/19/2035 | 2300 | 19 | (80) | (61) | 20 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.255 | Annual | 11/22/2028 | 100 | 0 | (2) | (2) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 3.179 | Annual | 11/29/2028 | 100 | 0 | (1) | (1) | 0 | 0 |
| Receive | 6-Month EUR-EURIBOR | 2.050 | Annual | 10/05/2029 | 200 | 0 | 4 | 4 | 0 | (1) |
| Receive | 6-Month EUR-EURIBOR | 2.056 | Annual | 10/05/2029 | 300 | 0 | 6 | 6 | 0 | (1) |
| Receive | 6-Month EUR-EURIBOR | 2.063 | Annual | 10/05/2029 | 400 | 0 | 8 | 8 | 0 | (1) |
| Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 | 200 | 0 | 1 | 1 | 0 | (1) |
| Receive | 6-Month EUR-EURIBOR | 2.350 | Annual | 04/29/2030 | 100 | 0 | 1 | 1 | 0 | 0 |
| Pay | 6-Month EUR-EURIBOR | 2.610 | Annual | 03/24/2035 | 100 | 0 | (4) | (4) | 1 | 0 |
| Pay<sup>(5)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 09/16/2036 | 1810 | (9) | (57) | (66) | 16 | 0 |
| Receive<sup>(5)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 09/16/2056 | 1140 | 22 | 7 | 29 | 0 | (13) |
| Receive | CAONREPO | 3.500 | Semi-Annual | 06/01/2032 | 1400 | (12) | (22) | (34) | 0 | (3) |
|  |  |  |  |  |  | $166 | $341 | $507 | $96 | $(75) |
|  Total Swap Agreements | Total Swap Agreements |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75) |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED SUMMARY
The following is a summary of the market value and variation margin of Exchange-Traded or Centrally Cleared Financial Derivative Instruments as of March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | Market Value | Variation Margin<br>Asset | Variation Margin<br>Asset | **Total** | Market Value | Variation Margin<br>Liability |  | **Total** |
|  | Purchased<br>Options | Futures | Swap<br>Agreements | **Total** | Written<br>Options |  |  | **Total** |
|  Total Exchange-Traded or Centrally Cleared | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | $410 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $(4) | $(75) | $(79) |

---

(e) Securities with an aggregate market value of $673 and cash of $4,600 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of March 31, 2026. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information.

<sup>(1)</sup> 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. 

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> This instrument has a forward starting effective date. See Note 2, Securities Transactions and Investment Income, in the Notes to Financial Statements for further information.

&nbsp;&nbsp;&nbsp;&nbsp;(f) FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER

#### FORWARD FOREIGN CURRENCY CONTRACTS:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Unrealized Appreciation/<br>(Depreciation) | Unrealized Appreciation/<br>(Depreciation) |
| Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Asset | Liability |
|  BOA | 04/2026 | 15278 | $2927 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |
|  | 04/2026 | 5506 | 4027 | 69 | 0 |
|  | 04/2026 | 18796 | 200 | 2 | 0 |
|  | 04/2026 | 219262 | 1374 | 0 | (7) |
|  | 04/2026 | 184 | 50 | 0 | 0 |
|  | 04/2026 | 872 | 682 | 4 | 0 |
|  | 04/2026 | $2930 | 15278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | 0 |
|  | 04/2026 | 200 | 18830 | 0 | 0 |
|  | 04/2026 | 100 | 147370 | 0 | (2) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **231** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V | (Cont.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 04/2026 | $450 | 1662 | $0 | $(2) |
|  | 04/2026 | 217 | 6782 | 0 | (11) |
|  | 04/2026 | 100 | 3190 | 0 | 0 |
|  | 05/2026 | 1374 | 218602 | 7 | 0 |
|  | 06/2026 | 3 | $1 | 0 | 0 |
|  | 06/2026 | 3187 | 178 | 1 | 0 |
|  BPS | 04/2026 | 104 | 74 | 2 | 0 |
|  | 04/2026 | 3601 | 688 | 0 | (7) |
|  | 04/2026 | 62155 | 660 | 2 | 0 |
|  | 04/2026 | 172011 | 113 | 0 | (1) |
|  | 04/2026 | 21143 | 659 | 17 | 0 |
|  | 04/2026 | $680 | 3601 | 15 | 0 |
|  | 04/2026 | 1005 | 17012141 | 0 | (4) |
|  | 04/2026 | 1340 | 124972 | 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16) |
|  | 04/2026 | 627 | 938632 | 1 | (4) |
|  | 04/2026 | 77 | 277 | 0 | (2) |
|  | 04/2026 | 0 | 4 | 0 | 0 |
|  | 04/2026 | 272 | 8702 | 0 | (1) |
|  | 04/2026 | 4093 | $242 | 0 | 0 |
|  | 05/2026 | 27979 | 296 | 0 | (1) |
|  | 05/2026 | 3733 | 114 | 1 | 0 |
|  | 05/2026 | 7147 | 222 | 0 | (1) |
|  | 05/2026 | $170 | 891 | 1 | 0 |
|  | 05/2026 | 264 | 4479433 | 0 | 0 |
|  | 05/2026 | 140 | 212987 | 2 | 0 |
|  | 06/2026 | 4015123 | $239 | 3 | 0 |
|  BRC | 04/2026 | 1635 | 50 | 0 | 0 |
|  | 04/2026 | 98529 | 2176 | 0 | (19) |
|  | 04/2026 | $140 | 2373952 | 0 | 0 |
|  | 04/2026 | 228 | 4079 | 0 | (1) |
|  | 04/2026 | 56 | 201 | 0 | (2) |
|  | 04/2026 | 236 | 2141 | 0 | (10) |
|  | 04/2026 | 3649 | 167888 | 27 | 0 |
|  | 04/2026 | 248 | 4059 | 0 | (8) |
|  | 05/2026 | 7605 | $163 | 0 | (1) |
|  CBK | 04/2026 | 651 | 456 | 7 | 0 |
|  | 04/2026 | 711 | 822 | 1 | (1) |
|  | 04/2026 | 545 | 731 | 9 | 0 |
|  | 04/2026 | 152208 | 1628 | 20 | 0 |
|  | 04/2026 | 1279 | 369 | 1 | 0 |
|  | 04/2026 | 12 | 3 | 0 | 0 |
|  | 04/2026 | 940 | 101 | 2 | 0 |
|  | 04/2026 | 3 | 0 | 0 | 0 |
|  | 04/2026 | $3238 | 299282 | 4 | (69) |
|  | 04/2026 | 413 | 65100 | 0 | (3) |
|  | 04/2026 | 40 | 143 | 0 | (1) |
|  | 04/2026 | 0 | 13 | 0 | 0 |
|  | 05/2026 | 929 | $261 | 0 | (6) |
|  | 06/2026 | 670293 | 40 | 0 | 0 |
|  | 06/2026 | $155 | 2614615 | 0 | (2) |
|  | 06/2026 | 947 | 16936 | 0 | (7) |
|  DUB | 04/2026 | 5 | $0 | 0 | 0 |
|  | 04/2026 | $3518 | 5128 | 20 | 0 |
|  | 04/2026 | 707 | 2568 | 0 | (15) |
|  | 04/2026 | 2872 | 3669 | 0 | (19) |
|  | 04/2026 | 202 | 6590 | 0 | (2) |
|  | 05/2026 | 5128 | $3517 | 0 | (20) |
|  | 05/2026 | 3661 | 2872 | 18 | 0 |
|  | 06/2026 | 6576 | 202 | 1 | 0 |
|  FAR | 04/2026 | 1579 | 1119 | 30 | 0 |
|  | 04/2026 | 46 | 59 | 2 | 0 |
|  | 04/2026 | 4877 | 6591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | 0 |
|  | 04/2026 | 300147 | 1881 | 0 | (11) |
|  | 04/2026 | $57 | 46 | 0 | 0 |
|  | 04/2026 | 6816 | 5131 | 0 | (24) |
|  | 04/2026 | 542 | 84710 | 0 | (8) |
|  | 04/2026 | 62 | 224 | 0 | (2) |
|  | 04/2026 | 15 | 20 | 0 | 0 |
|  | 05/2026 | 45 | $57 | 0 | 0 |

---

---

| | | |
|:---|:---|:---|
| **232** | **PIMCO BOND FUNDS** | See Accompanying Notes |

---

------

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  | 05/2026 | 5131 | $6815 | $24 | $0 |
|  | 05/2026 | 20 | 16 | 0 | 0 |
|  | 05/2026 | $1881 | 299241 | 11 | 0 |
|  | 06/2026 | 290 | 5052 | 0 | (10) |
|  | 09/2026 | 40 | 711 | 0 | (1) |
|  GLM | 04/2026 | 24345 | $4582 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) |
|  | 04/2026 | 3635 | 40 | 1 | 0 |
|  | 04/2026 | 580315 | 390 | 4 | 0 |
|  | 04/2026 | 3495 | 107 | 1 | 0 |
|  | 04/2026 | $4628 | 24345 | 72 | 0 |
|  | 04/2026 | 67 | 1229 | 2 | 0 |
|  | 04/2026 | 259 | 8463 | 0 | (2) |
|  | 05/2026 | 21192 | $224 | 0 | (1) |
|  | 06/2026 | 10 | 2 | 0 | 0 |
|  | 06/2026 | 1678169 | 99 | 1 | 0 |
|  | 06/2026 | 555 | 31 | 0 | 0 |
|  | 06/2026 | 4959 | 151 | 0 | 0 |
|  | 06/2026 | $4532 | 24405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 | 0 |
|  | 06/2026 | 626 | 10552769 | 0 | (5) |
|  | 06/2026 | 636 | 11082 | 0 | (21) |
|  | 07/2026 | 9 | $2 | 0 | 0 |
|  JPM | 04/2026 | 596 | 437 | 8 | 0 |
|  | 04/2026 | 34080 | 362 | 3 | 0 |
|  | 04/2026 | 667231 | 443 | 2 | (2) |
|  | 04/2026 | 409 | 110 | 0 | 0 |
|  | 04/2026 | 2817 | 2235 | 44 | 0 |
|  | 04/2026 | $402 | 37781 | 1 | (1) |
|  | 04/2026 | 384 | 580626 | 2 | 0 |
|  | 04/2026 | 1472 | 26405 | 2 | (3) |
|  | 04/2026 | 530 | 8845 | 0 | (8) |
|  | 04/2026 | 3953 | $233 | 0 | (1) |
|  | 06/2026 | 3091 | 172 | 1 | 0 |
|  MBC | 04/2026 | 248 | 174 | 3 | 0 |
|  | 04/2026 | 2374979 | 140 | 0 | 0 |
|  | 04/2026 | 158064 | 988 | 0 | (8) |
|  | 04/2026 | 738484 | 505 | 14 | 0 |
|  | 04/2026 | 1874 | 193 | 1 | (2) |
|  | 04/2026 | 766 | 450 | 10 | 0 |
|  | 04/2026 | 1238 | 40 | 2 | 0 |
|  | 04/2026 | $196 | 169 | 0 | 0 |
|  | 04/2026 | 389 | 291 | 0 | (3) |
|  | 04/2026 | 600 | 93323 | 0 | (12) |
|  | 04/2026 | 193 | 1875 | 1 | 0 |
|  | 05/2026 | 988 | 157586 | 7 | 0 |
|  | 05/2026 | 143 | 1398 | 2 | 0 |
|  | 06/2026 | 313 | $17 | 0 | 0 |
|  | 06/2026 | $140 | 2380595 | 0 | 0 |
|  MYI | 04/2026 | 40282 | $424 | 0 | (1) |
|  | 04/2026 | 142 | 40 | 2 | 0 |
|  | 04/2026 | $424 | 40473 | 6 | 0 |
|  SCX | 04/2026 | 2914 | $1742 | 68 | 0 |
|  | 04/2026 | $4413 | 6109 | 0 | (21) |
|  | 04/2026 | 1070 | 98397 | 0 | (31) |
|  | 04/2026 | 427 | 66621 | 0 | (7) |
|  | 04/2026 | 320 | 10206 | 0 | (1) |
|  | 05/2026 | 6101 | $4413 | 21 | 0 |
|  | 06/2026 | $130 | 2183109 | 0 | (1) |
|  | 07/2026 | 411 | 588458 | 0 | (19) |
|  SOG | 04/2026 | 14326 | $16957 | 399 | 0 |
|  | 04/2026 | 1203 | 126 | 0 | (1) |
|  | 04/2026 | $17158 | 14868 | 28 | 0 |
|  | 04/2026 | 2362 | 367455 | 0 | (46) |
|  | 05/2026 | 14868 | $17185 | 0 | (27) |
|  | 05/2026 | $126 | 1201 | 1 | 0 |
|  | 06/2026 | 4617 | $1370 | 49 | 0 |
|  SSB | 04/2026 | 2546 | 1812 | 55 | 0 |
|  | 04/2026 | $3 | 431 | 0 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **233** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V | (Cont.) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Unrealized Appreciation/<br>(Depreciation)** | **Unrealized Appreciation/<br>(Depreciation)** |
| **Counterparty** | **Settlement<br>Month** | **Currency to<br>be Delivered** | **Currency to<br>be Received** | **Asset** | **Liability** |
|  UAG | 04/2026 | 289 | $79 | $1 | $0 |
|  | 04/2026 | $486 | 1755 | 0 | (13) |
|  | 05/2026 | 3680 | $2103 | 0 | (14) |
|  | 06/2026 | 400 | 22 | 0 | 0 |
|  | 06/2026 | $308 | 5382 | 0 | (10) |
|  Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | Total Forward Foreign Currency Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(702) |

---

#### PURCHASED OPTIONS:

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive<br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Cost | Market<br>Value |
| CBK Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.500% | 07/13/2026 | 27400 | $60 | $40 |
|  Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | Total Purchased Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |

---

#### WRITTEN OPTIONS:

#### CREDIT DEFAULT SWAPTIONS ON CREDIT INDEXES

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Buy/Sell<br>Protection | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
|  BOA | Put - OTC iTraxx Europe 44 5-Year | Sell | 1.050% | 05/20/2026 | 500 | $(1) | $(1) |
|  GST | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.850 | 05/20/2026 | 1000 | (1) | (1) |
|  | Put - OTC CDX.IG-45 5-Year Index | Sell | 0.800 | 06/17/2026 | 1800 | (2) | (2) |
|  |  |  |  |  |  | $(4) | $(4) |

---

#### FOREIGN CURRENCY OPTIONS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
|  BOA | Put - OTC USD versus KRW | 1350.000 | 07/09/2026 | 268 | $(1) | $0 |
|  | Put - OTC USD versus KRW | 1350.000 | 07/13/2026 | 474 | (1) | 0 |
|  MBC | Put - OTC USD versus KRW | 1350.000 | 07/09/2026 | 689 | (2) | (1) |
|  | Put - OTC USD versus KRW | 1350.000 | 07/10/2026 | 688 | (2) | (1) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |

---

#### INTEREST RATE SWAPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Floating Rate Index | Pay/Receive <br>Floating Rate | Exercise<br>Rate | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| BOA Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.620% | 04/20/2026 | 200 | $(1) | $0 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/20/2026 | 200 | (1) | (1) |
| CBK Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.000 | 07/13/2026 | 27400 | (24) | (15) |
| Call - OTC 1-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.250 | 07/13/2026 | 27400 | (30) | (24) |
| GLM Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.600 | 04/16/2026 | 400 | (1) | 0 |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 3.900 | 04/16/2026 | 400 | (1) | (2) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.695 | 04/27/2026 | 500 | (2) | (2) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.055 | 04/27/2026 | 500 | (2) | (1) |
| Call - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Receive | 3.669 | 04/30/2026 | 800 | (3) | (2) |
| Put - OTC 10-Year Interest Rate Swap  | 3-Month USD-SOFR | Pay | 4.069 | 04/30/2026 | 800 | (3) | (2) |
| MYC Call - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Receive | 2.540 | 04/16/2026 | 200 | 0 | 0 |
| Put - OTC 5-Year Interest Rate Swap  | 6-Month EUR-EURIBOR | Pay | 2.920 | 04/16/2026 | 200 | 0 | (1) |
|  |  |  |  |  |  | $(68) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50) |

---

#### OPTIONS ON SECURITIES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Strike<br>Price | Expiration<br>Date | Notional<br>Amount<sup>(1)</sup> | Premiums<br>(Received) | Market<br>Value |
| GSC | Put - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | $94.375 | 06/04/2026 | 300 | $(2) | $(1) |
|  | Call - OTC Uniform Mortgage-Backed Security, TBA 4.500% due 06/01/2056 | 97.375 | 06/04/2026 | 300 | (1) | (2) |
|  |  |  |  |  | $(3) | $(3) |
|  Total Written Options | Total Written Options | Total Written Options | Total Written Options | Total Written Options | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59) |

---

234 PIMCO BOND FUNDS See Accompanying Notes

------

March 31, 2026

#### SWAP AGREEMENTS:

#### CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION<sup>(2)</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Swap Agreements,<br>at Value<sup>(4)</sup> | Swap Agreements,<br>at Value<sup>(4)</sup> |
| **Counterparty** | **Index/Tranches** | **Fixed<br>Receive Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<sup>(3)</sup>** | **Notional<br>Amount<sup>(3)</sup>** | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| BPS | CDX.iTraxx Crossover 44 5-Year 35-100% Index | 5.000% | Quarterly | 12/20/2030 | EUR | 11900 | $2710 | $(328) | $2382 | $0 |
| JPM | CDX.iTraxx Crossover 42 5-Year 35-100% Index | 5.000 | Quarterly | 12/20/2029 |  | 3358 | 671 | (71) | 600 | 0 |
|  Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | Total Swap Agreements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(399) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

#### FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER SUMMARY
The following is a summary by counterparty of the market value of OTC financial derivative instruments and collateral pledged/(received) as of March 31, 2026:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | | | |
| Counterparty | Forward<br>Foreign<br>Currency<br>Contracts | Purchased<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Forward<br>Foreign<br>Currency<br>Contracts | Written<br>Options | Swap<br>Agreements | Total<br>Over the<br>Counter | Net Market<br>Value of OTC<br>Derivatives | Collateral<br>Pledged/<br>(Received) | Net<br>Exposure<sup>(5)</sup> |
|  BOA | $103 | $0 | $0 | $103 | $(44) | $(2) | $0 | $(46) | $57 | $0 | $57 |
|  BPS | 47 | 0 | 2382 | 2429 | (37) | 0 | 0 | (37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2400) | (8) |
|  BRC | 27 | 0 | 0 | 27 | (41) | 0 | 0 | (41) | (14) | 0 | (14) |
|  CBK | 44 | 40 | 0 | 84 | (89) | (39) | 0 | (128) | (44) | 0 | (44) |
|  DUB | 39 | 0 | 0 | 39 | (56) | 0 | 0 | (56) | (17) | 0 | (17) |
|  FAR | 203 | 0 | 0 | 203 | (56) | 0 | 0 | (56) | 147 | 0 | 147 |
|  GLM | 199 | 0 | 0 | 199 | (147) | (9) | 0 | (156) | 43 | 0 | 43 |
|  GSC | 0 | 0 | 0 | 0 | 0 | (3) | 0 | (3) | (3) | 0 | (3) |
|  GST | 0 | 0 | 0 | 0 | 0 | (3) | 0 | (3) | (3) | 0 | (3) |
|  JPM | 63 | 0 | 600 | 663 | (15) | 0 | 0 | (15) | 648 | (770) | (122) |
|  MBC | 40 | 0 | 0 | 40 | (25) | (2) | 0 | (27) | 13 | 0 | 13 |
|  MYC | 0 | 0 | 0 | 0 | 0 | (1) | 0 | (1) | (1) | 0 | (1) |
|  MYI | 8 | 0 | 0 | 8 | (1) | 0 | 0 | (1) | 7 | 0 | 7 |
|  SCX | 89 | 0 | 0 | 89 | (80) | 0 | 0 | (80) | 9 | 0 | 9 |
|  SOG | 477 | 0 | 0 | 477 | (74) | 0 | 0 | (74) | 403 | (290) | 113 |
|  SSB | 55 | 0 | 0 | 55 | 0 | 0 | 0 | 0 | 55 | 0 | 55 |
|  UAG | 1 | 0 | 0 | 1 | (37) | 0 | 0 | (37) | (36) | 0 | (36) |
|  Total Over the Counter | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(702) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(761) |  |  |  |

---

<sup>(1)</sup> Notional Amount represents the number of contracts. 

<sup>(2)</sup> 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. 

<sup>(3)</sup> 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. 

<sup>(4)</sup> 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. 

<sup>(5)</sup> Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. See Note 8, Master Netting Arrangements, in the Notes to Financial Statements for more information. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **235** |

---

------

---

| | | |
|:---|:---|:---|
| Schedule of Investments | PIMCO Total Return Fund V | (Cont.) |

---

#### FAIR VALUE OF FINANCIAL DERIVATIVE INSTRUMENTS
The following is a summary of the fair valuation of the Fund's derivative instruments categorized by risk exposure. See Note 7, Principal and Other Risks, in the Notes to Financial Statements on risks of the Fund.

Fair Values of Financial Derivative Instruments on the Statements of Assets and Liabilities as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $0 | $0 | $0 | $241 | $241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 73 | 0 | 0 | 96 | 169 |
|  | $0 | $73 | $0 | $0 | $337 | $410 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $1395 | $0 | $1395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | 40 | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 2982 | 0 | 0 | 0 | 2982 |
|  | $0 | $2982 | $0 | $1395 | $40 | $4417 |
|  | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3055 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4827 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $4 | $4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 0 | 0 | 0 | 75 | 75 |
|  | $0 | $0 | $0 | $0 | $79 | $79 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $702 | $0 | $702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 4 | 0 | 2 | 53 | 59 |
|  | $0 | $4 | $0 | $704 | $53 | $761 |
|  | $0 | $4 | $0 | $704 | $132 | $840 |

---

The effect of Financial Derivative Instruments on the Statements of Operations for the year ended March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments | Derivatives not accounted for as hedging instruments |
|  | Commodity<br>Contracts | Credit<br>Contracts | Equity<br>Contracts | Foreign<br>Exchange<br>Contracts | Interest<br>Rate Contracts | Total |
|  Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments | Net Realized Gain (Loss) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | $0 | $0 | $0 | $0 | $24 | $24 |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | 0 | 0 | 0 | 0 | 1780 | 1780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 227 | 0 | 0 | 365 | 592 |
|  | $0 | $227 | $0 | $0 | $2169 | $2396 |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $(1078) | $0 | $(1078) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | (68) | (106) | (174) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | 8 | 0 | 11 | 326 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 769 | 0 | 0 | 0 | 769 |
|  | $0 | $777 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1135) | $220 | $(138) |
|  | $0 | $1004 | $0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1135) | $2389 | $2258 |
|  Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments | Net Change in Unrealized Appreciation (Depreciation) on Financial Derivative Instruments |
|  Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | Exchange-traded or centrally cleared |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures  | $0 | $0 | $0 | $0 | $(2200) | $(2200) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | 21 | 0 | 0 | 404 | 425 |
|  | $0 | $21 | $0 | $0 | $(1796) | $(1775) |
|  Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | Over the counter |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  | $0 | $0 | $0 | $837 | $0 | $837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options  | 0 | 0 | 0 | 0 | (55) | (55) |
| &nbsp;&nbsp;&nbsp;&nbsp; Written Options  | 0 | (1) | 0 | 5 | 66 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap Agreements  | 0 | (372) | 0 | 0 | 0 | (372) |
|  | $0 | $(373) | $0 | $842 | $11 | $480 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1785) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1295) |

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236 PIMCO BOND FUNDS See Accompanying Notes

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March 31, 2026

#### FAIR VALUE MEASUREMENTS
The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Corporate Bonds & Notes |  |  |  |  |
| &nbsp;&nbsp; Banking & Finance | $0 | $61229 | $0 | $61229 |
| &nbsp;&nbsp; Industrials | 0 | 27521 | 0 | 27521 |
| &nbsp;&nbsp; Utilities | 0 | 30132 | 0 | 30132 |
|  U.S. Government Agencies | 0 | 146022 | 0 | 146022 |
|  U.S. Treasury Obligations | 0 | 80214 | 0 | 80214 |
|  Non-Agency Mortgage-Backed Securities | 0 | 1536 | 3933 | 5469 |
|  Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp; Automobile Sequential | 0 | 2642 | 0 | 2642 |
| &nbsp;&nbsp; CMBS Other | 0 | 2398 | 0 | 2398 |
| &nbsp;&nbsp; Other ABS | 0 | 16200 | 0 | 16200 |
|  Sovereign Issues | 0 | 15044 | 0 | 15044 |
|  Short-Term Instruments |  |  |  |  |
| &nbsp;&nbsp; Commercial Paper | 0 | 14372 | 0 | 14372 |
| &nbsp;&nbsp; Repurchase Agreements | 0 | 29200 | 0 | 29200 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426510 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430443 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Category and Subcategory** | Level 1 | Level 2 | Level 3 | Fair<br>Value at<br>03/31/2026 |
|  Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets | Financial Derivative Instruments - Assets |  |  |
| &nbsp;&nbsp; Exchange-traded or centrally cleared | $116 | $294 | $0 | $410 |
|  Over the counter | 0 | 4417 | 0 | 4417 |
|  | $116 | $4711 | $0 | $4827 |
|  Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities | Financial Derivative Instruments - Liabilities |
|  Exchange-traded or centrally cleared | 0 | (79) | 0 | (79) |
|  Over the counter | 0 | (761) | 0 | (761) |
|  | $0 | $(840) | $0 | $(840) |
|  Total Financial Derivative Instruments | $116 | $3871 | $0 | $3987 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430381 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434430 |

---

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

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Beginning<br>Balance<br>at 03/31/2025 | Net<br>Purchases | Net<br>Sales/<br>Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Non-Agency Mortgage-Backed Securities | $0 | $3727 | $0 | $0 | $0 | $206 | $0 | $0 | $3933 | $206 |
|  Totals | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3727 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 |

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation Technique | Unobservable<br>Inputs | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Valuation Technique | Unobservable<br>Inputs | Input Value(s) | Weighted<br>Average |
|  Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value | Investments in Securities, at Value |
|  Non-Agency Mortgage-Backed Securities | $3933 | Recent Transaction | Purchase Price | 100.000 |  |
|  Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 |  |  |  |  |

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<sup>(1)</sup> Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end.

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| | | | | |
|:---|:---|:---|:---|:---|
| See Accompanying Notes | **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **237** |

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------

Notes to Financial Statements

1. ORGANIZATION

PIMCO Funds (the "Trust") is a Massachusetts business trust established under a Declaration of Trust dated February 19, 1987, as amended and restated November 4, 2014. The Trust is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. Information presented in these financial statements pertains to the Institutional Class, I-2, I-3, Administrative Class, Class A, Class C and Class R shares of the funds (each, a "Fund" and collectively, the "Funds") indicated on the cover of this report. Pacific Investment Management Company LLC ("PIMCO") serves as the investment adviser (the "Adviser") for the Funds.

Hereinafter, the Board of Trustees of the Funds shall be collectively referred to as the "Board."

Each Fund operates as a single reportable operating segment under the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280). An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and to assess its performance, and has discrete financial information available. The Officers, as listed in the Management of the Trust section of the most recent Statement of Additional Information, act as the Funds' CODM. Each Fund represents a single operating segment, as the CODM monitors the operating results of the Funds as a whole and each Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Funds' portfolio managers as a team. The financial information in the form of each Fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus each Fund's comparative benchmarks and to make resource allocation decisions for each Fund's single segment, is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as "total assets" and significant segment expenses are listed on the accompanying Statements of Operations.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Trust in the preparation of its financial statements in conformity with accounting principles generally accepted

in the United States of America ("U.S. GAAP"). Each Fund is treated as an investment company under the reporting requirements of U.S. GAAP, including but not limited to ASC 946. The functional and reporting currency for the Funds is the U.S. dollar. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

(a) Securities Transactions and Investment Income Securities transactions are recorded as of the trade date for financial reporting purposes. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled beyond a standard settlement period for the security after the trade date. Realized gains (losses) from securities sold are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date, except certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as a Fund is informed of the ex-dividend date. Interest income, adjusted for the accretion of discounts and amortization of premiums, is recorded on the accrual basis from settlement date, with the exception of securities with a forward starting effective date, where interest income is recorded on the accrual basis from effective date. For convertible securities, premiums attributable to the conversion feature are not amortized. Estimated tax liabilities on certain foreign securities are recorded on an accrual basis and are reflected as components of interest income or net change in unrealized appreciation (depreciation) on investments on the Statements of Operations, as appropriate. Tax liabilities realized as a result of such security sales are reflected as a component of net realized gain (loss) on investments on the Statements of Operations. Paydown gains (losses) on mortgage-related and other asset-backed securities, if any, are recorded as components of interest income on the Statements of Operations. Income or short-term capital gain distributions received from registered investment companies, if any, are recorded as dividend income. Long-term capital gain distributions received from registered investment companies, if any, are recorded as realized gains.

Debt obligations may be placed on non-accrual status and related interest income may be reduced by ceasing current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. A debt obligation is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is probable. A debt obligation may be granted, in certain situations, a contractual or non-contractual forbearance for interest payments that are expected to be paid after agreed upon pay dates.

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| | |
|:---|:---|
| **238** | **PIMCO BOND FUNDS** |

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March 31, 2026

(b) Foreign Taxes A Fund may be subject to foreign taxes on income, stock dividends, capital gains on investments or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which a Fund invests. These foreign taxes, if any, are paid by a Fund and are reflected in its Statement of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable as of March 31, 2026, if any, are disclosed in the Statements of Assets and Liabilities.

(c) Foreign Currency Translation The market values of foreign securities, currency holdings and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the current exchange rates each business day. Purchases and sales of securities and income and expense items denominated in foreign currencies, if any, are translated into U.S. dollars at the exchange rate in effect on the transaction date. The Funds do not separately report the effects of changes in foreign exchange rates from changes in market prices on securities held. Such changes are included in net realized gain (loss) and net change in unrealized appreciation (depreciation) from investments on the Statements of Operations. The Funds may invest in foreign currency-denominated securities and may engage in foreign currency transactions either on a spot (cash) basis at the rate prevailing in the currency exchange market at the time or through a forward foreign currency contract. Realized foreign exchange gains (losses) arising from sales of spot foreign currencies, currency gains (losses) realized between the trade and settlement dates on securities transactions and the difference between the recorded amounts of dividends, interest, and foreign withholding taxes and the U.S. dollar equivalent of the amounts actually received or paid are included in net realized gain (loss) on foreign currency transactions on the Statements of Operations. Net unrealized foreign exchange gains (losses) arising from changes in foreign exchange rates on foreign denominated assets and liabilities other than investments in securities held at the end of the reporting period are included in net change in unrealized appreciation (depreciation) on foreign currency assets and liabilities on the Statements of Operations.

(d) Multi-Class Operations Each class offered by the Trust has equal rights as to assets and voting privileges (except that shareholders of a class have exclusive voting rights regarding any matter relating solely to that class of shares). Income and non-class specific expenses are allocated daily to each class on the basis of the relative net assets.

Realized and unrealized capital gains (losses) are allocated daily based on the relative net assets of each class of the respective Fund. Class specific expenses, where applicable, currently include supervisory and administrative and distribution and servicing fees. Under certain circumstances, the per share net asset value ("NAV") of a class of the respective 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.

(e) Distributions to Shareholders The following table shows the anticipated frequency of distributions from net investment income, if any, for each Fund.

---

| | | |
|:---|:---|:---|
|  | Distribution Frequency | Distribution Frequency |
| Fund Name | Declared | Distributed |
|  PIMCO Climate Bond Fund | Daily | Monthly |
|  PIMCO Dynamic Bond Fund | Daily | Monthly |
|  PIMCO Extended Duration Fund | Daily | Monthly |
|  PIMCO GNMA and Government Securities Fund | Daily | Monthly |
|  PIMCO Investment Grade Credit Bond Fund | Daily | Monthly |
|  PIMCO Long Duration Total Return Fund | Daily | Monthly |
|  PIMCO Long-Term U.S. Government Fund | Daily | Monthly |
|  PIMCO Low Duration Opportunities Fund | Daily | Monthly |
|  PIMCO Moderate Duration Fund | Daily | Monthly |
|  PIMCO Mortgage Opportunities and Bond Fund | Daily | Monthly |
|  PIMCO Total Return ESG Fund | Daily | Monthly |
|  PIMCO Total Return Fund II | Daily | Monthly |
|  PIMCO Total Return Fund IV | Daily | Monthly |
|  PIMCO Total Return Fund V | Daily | Monthly |

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Net realized capital gains earned by each Fund, if any, will be distributed no less frequently than annually. Net short-term capital gains may be paid more frequently. A Fund may revise its distribution policy or postpone the payment of distributions at any time.

Income distributions and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. GAAP. Differences between tax regulations and U.S. GAAP may cause timing differences between income and capital gain recognition. Further, the character of investment income and capital gains may be different for certain transactions under the two methods of accounting. As a result, income distributions and capital gain distributions declared during a fiscal period may differ significantly from the net investment income (loss) and realized gains (losses) reported on each Fund's annual financial statements presented under U.S. GAAP.

Separately, if a Fund determines or estimates, as applicable, that a portion of a distribution may be comprised of amounts from sources other than net investment income in accordance with its policies, accounting records (if applicable) and accounting practices, the Fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice. For these purposes, a Fund

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **239** |

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------

Notes to Financial Statements (Cont.)

determines or estimates, as applicable, the source or sources from which a distribution is paid, to the close of the period as of which it is paid, in reference to its internal accounting records and related accounting practices. If, based on such accounting records and practices, it is determined or estimated, as applicable, that a particular distribution does not include capital gains or paid-in surplus or other capital sources, a Section 19 Notice generally would not be issued. It is important to note that differences exist between a Fund's daily internal accounting records and practices, a Fund's financial statements presented in accordance with U.S. GAAP, and recordkeeping practices under income tax regulations. For instance, a Fund's internal accounting records and practices may take into account, among other factors, tax-related characteristics of certain sources of distributions that differ from treatment under U.S. GAAP. Examples of such differences may include but are not limited to, for certain funds, the treatment of periodic payments under interest rate swap contracts. Accordingly, among other consequences, it is possible that a Fund may not issue a Section 19 Notice in situations where the Fund's financial statements prepared later and in accordance with U.S. GAAP and/or the final tax character of those distributions might later report that the sources of those distributions included capital gains and/or a return of capital. Please visit www.pimco.com for the most recent Section 19 Notice, if applicable, for additional information regarding the estimated composition of distributions. Final determination of a distribution's tax character will be provided to shareholders when such information is available.

Distributions classified as a tax basis return of capital at a Fund's fiscal year end, if any, are reflected on the Statements of Changes in Net Assets and have been recorded to paid in capital on the Statements of Assets and Liabilities. In addition, other amounts have been reclassified between distributable earnings (accumulated loss) and paid in capital on the Statements of Assets and Liabilities to more appropriately conform U.S. GAAP to tax characterizations of distributions.

(f) New Accounting Pronouncements and Regulatory Updates In September 2023, the U.S. Securities and Exchange Commission ("SEC") adopted amendments to Rule 35d-1 under the Act, which governs fund naming conventions (the "Names Rule"). In general, the Names Rule requires funds with certain types of names to adopt a policy to invest at least 80% of their assets in the type of investment suggested by the name. The amendments expand the scope of the current rule to include any term used in a fund name that suggests the fund makes investments that have, or whose issuers have, particular characteristics. Additionally, the amendments modify the circumstances under which a fund may deviate from its 80% investment policy and address the calculation methodology of derivatives instruments for purposes of the rule. Changes to a fund's calculation methodology for

derivatives instruments for purposes of Rule 35d-1 consistent with such amendments and applicable regulatory interpretations thereof will not constitute a change to a fund's policy adopted pursuant to Rule 35d-1 and will not require notice or shareholder approval. The amendments became effective December 11, 2023. On March 14, 2025, the SEC extended the compliance date from December 11, 2025 to June 11, 2026 for fund groups with $1 billion or more in net assets and modified the operation of the compliance dates to allow for compliance based on the timing of certain annual disclosure and reporting obligations that are tied to a fund's fiscal year-end.

In December 2023, FASB issued ASU 2023-09, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Management has implemented changes in connection with the amendments and where applicable included additional disclosure in the Notes to Financial Statements.

3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

(a) Investment Valuation Policies The 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 a Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is

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| | |
|:---|:---|
| **240** | **PIMCO BOND FUNDS** |

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March 31, 2026

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").

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), a 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.

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **241** |

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Notes to Financial Statements (Cont.)

Whole loans may be fair valued using inputs that take into account borrower- or loan-level data (e.g., credit risk of the borrower) that is updated periodically throughout the life of each individual loan; any new borrower- or loan-level data received in written reports periodically by a Fund normally will be taken into account in calculating the NAV. A Fund's whole loan investments, including those originated by the Fund or through an alternative lending platform, generally are fair valued by the Valuation Designee in accordance with procedures approved by the Board.

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 a 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:

<sup>∎</sup> Level 1 — Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.

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| <sup>∎</sup> | 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. |

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<sup>∎</sup> 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 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) Valuation Techniques and the Fair Value Hierarchy

Level 1, Level2 and Level 3 trading assets and trading liabilities, at fair value The valuation methods (or "techniques") and significant inputs used in determining the fair values of portfolio securities or other assets and liabilities categorized as Level 1, Level 2 and Level 3 of the fair value hierarchy are as follows:

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

Investments in registered open-end investment companies (other than ETFs) will be valued based upon the NAVs of such investments and are categorized as Level 1 of the fair value hierarchy. Investments in

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| **242** | **PIMCO BOND FUNDS** |

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March 31, 2026

unregistered open-end investment companies will be calculated based upon the NAVs of such investments and are considered Level 1 provided that the NAVs are observable, calculated daily and are the value at which both purchases and sales will be conducted.

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

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

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

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

Valuation adjustments may be applied to certain exchange traded futures and options to account for market movement between the exchange settlement and the NYSE Close. These securities are valued

using quotes obtained from a quotation reporting system, established market makers or Pricing Sources. Financial derivatives using these valuation adjustments are categorized as Level 2 of the fair value hierarchy.

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

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

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| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **243** |

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Notes to Financial Statements (Cont.)

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

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.

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.

4. SECURITIES AND OTHER INVESTMENTS

(a) Investments in Affiliates

The table below shows the Funds' transactions in and earnings from investments in the affiliated fund for the period ended March 31, 2026 (amounts in thousands<sup>†</sup>):

#### Investments in PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

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| Fund Name | Market Value<br>03/31/2025 | Purchases<br>at Cost | Proceeds<br>from Sales | Net<br>Realized<br>Gain (Loss) | Change in<br>Unrealized<br>Appreciation<br>(Depreciation) | Market Value<br>03/31/2026 | Dividend<br>Income<sup>(1)</sup> | Realized Net<br>Capital Gain<br>Distributions<sup>(1)</sup> |
|  PIMCO Moderate Duration Fund | $49713 | $52932 | $0 | $0 | $273 | $102918 | $3127 | $0 |
|  PIMCO Total Return Fund II | 16476 | 18177 | 0 | 0 | 88 | 34741 | 1045 | 0 |

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| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

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<sup>(1)</sup> 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. See Note 2, Distributions to Shareholders, in the Notes to Financial Statements for more information. 

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. PIMCO Dynamic Bond Fund, PIMCO Extended Duration Fund, PIMCO GNMA and Government Securities Fund, PIMCO Investment Grade Credit Bond Fund, PIMCO Long Duration Total Return Fund, PIMCO Moderate Duration Fund, PIMCO Total Return ESG Fund, PIMCO Total Return Fund II and PIMCO Total Return Fund IV, PIMCO Total Return ESG Fund, PIMCO Total Return ESG Fund, PIMCO Total Return Fund II and PIMCO Total Return Fund IV may each invest in certain other series of the Trust, series of PIMCO ETF Trust, and series of PIMCO Equity Series (each series, an "Underlying Fund" and collectively, the "Underlying Funds"). A complete schedule of portfolio holdings for each affiliate fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available at

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| **244** | **PIMCO BOND FUNDS** |

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the SEC's website at www.sec.gov. A copy of each affiliate fund's shareholder report is also available at the SEC's website at www.sec.gov, on the Funds' website at www.pimco.com, or upon request, as applicable. The tables below show the Funds' transactions in and earnings from investments in the affiliated funds for the period ended March 31, 2026 (amounts in thousands<sup>†</sup>):

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio | Investments in PIMCO Short Asset Portfolio |
| Fund Name | Market Value<br>03/31/2025 | Purchases<br>at Cost | Proceeds<br>from Sales | Net<br>Realized<br>Gain (Loss) | Change in<br>Unrealized<br>Appreciation<br>(Depreciation) | Market Value<br>03/31/2026 | Dividend<br>Income<sup>(1)</sup> | Realized Net<br>Capital Gain<br>Distributions<sup>(1)</sup> |
|  PIMCO Dynamic Bond Fund | $123488 | $5926 | $(1) | $0 | $320 | $129733 | $5926 | $0 |
|  PIMCO Low Duration Opportunities Fund | 4377 | 210 | 0 | 0 | 11 | 4598 | 210 | 0 |
| Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III | Investments in PIMCO Short-Term Floating NAV Portfolio III |
| Fund Name | Market Value<br>03/31/2025 | Purchases<br>at Cost | Proceeds<br>from Sales | Net<br>Realized<br>Gain (Loss) | Change in<br>Unrealized<br>Appreciation<br>(Depreciation) | Market Value<br>03/31/2026 | Dividend<br>Income<sup>(1)</sup> | Realized Net<br>Capital Gain<br>Distributions<sup>(1)</sup> |
|  PIMCO Dynamic Bond Fund | $528560 | $1759157 | $(1870501) | $(40) | $129 | $417305 | $16479 | $0 |
|  PIMCO Extended Duration Fund | 12032 | 1190815 | (1196500) | 0 | 1 | 6348 | 216 | 0 |
|  PIMCO GNMA and Government Securities Fund | 24616 | 817862 | (842152) | 22 | 3 | 351 | 963 | 0 |
|  PIMCO Investment Grade Credit Bond Fund | 147966 | 5114583 | (5258837) | 311 | 0 | 4023 | 13711 | 0 |
|  PIMCO Long Duration Total Return Fund | 2303 | 1126672 | (1128300) | (8) | 0 | 667 | 372 | 0 |
|  PIMCO Long-Term U.S. Government Fund | 26256 | 553316 | (579500) | 11 | 2 | 85 | 219 | 0 |
|  PIMCO Low Duration Opportunities Fund | 12812 | 72456 | (62900) | 2 | (1) | 22369 | 557 | 0 |
|  PIMCO Moderate Duration Fund | 99 | 137064 | (137100) | 3 | 0 | 66 | 65 | 0 |
|  PIMCO Mortgage Opportunities and Bond Fund | 114275 | 8654027 | (8417400) | 97 | 50 | 351049 | 11594 | 0 |
|  PIMCO Total Return Fund II | 124 | 147257 | (146901) | 2 | 0 | 482 | 56 | 0 |
|  PIMCO Total Return Fund IV | 4454 | 48858 | (38200) | 2 | 6 | 15120 | 558 | 0 |

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| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

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<sup>(1)</sup> 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. See Note 2, Distributions to Shareholders, in the Notes to Financial Statements for more information. 

(b) Investments in Securities

The Funds may utilize the investments and strategies described below to the extent permitted by each Fund's respective investment policies.

Delayed-Delivery Transactions involve a commitment by a Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed-delivery transactions are outstanding, a Fund will designate or receive as collateral liquid assets in an amount sufficient to meet the purchase price or respective obligations. When purchasing a security on a delayed-delivery basis, a Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its NAV. A Fund may dispose of or renegotiate a delayed-delivery transaction after it is entered into, which may result in a realized gain (loss). When a Fund has sold a security on a delayed-delivery basis, the Fund does not participate in future gains (losses) with respect to the security.

Inflation-Indexed Bonds are fixed income securities whose principal value is periodically adjusted according to the rate of inflation. The

interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond, however, interest will be paid based on a principal value which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation-indexed bond will be included as interest income on the Statements of Operations, even though investors do not receive their principal until maturity. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury Inflation-Protected Securities ("TIPS"). For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal.

Loans and Other Indebtedness, Loan Participations and Assignments are direct debt instruments which are interests in amounts owed to lenders or lending syndicates by corporate, governmental or other borrowers. A Fund's investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties or investments in or originations of loans by a Fund. A loan is often administered by a bank or other financial institution (the "agent") that acts as agent for all holders. The agent administers the terms of the loan, as specified in the loan

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| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **245** |

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Notes to Financial Statements (Cont.)

agreement. A Fund may invest in multiple series or tranches of a loan, which may have varying terms and carry different associated risks. When a Fund purchases assignments from agents it acquires direct rights against the borrowers of the loans. These loans may include participations in bridge loans, which are loans taken out by borrowers for a short period (typically less than one year) pending arrangement of more permanent financing through, for example, the issuance of bonds, frequently high yield bonds issued for the purpose of acquisitions.

The types of loans and related investments in which the Funds may invest include, among others, senior loans, subordinated loans (including second lien loans, B-Notes and mezzanine loans), whole loans, commercial real estate and other commercial loans and structured loans. The Funds may originate loans or acquire direct interests in loans through primary loan distributions and/or in private transactions. In the case of subordinated loans, there may be significant indebtedness ranking ahead of the borrower's obligation to the holder of such a loan, including in the event of the borrower's insolvency. Mezzanine loans are typically secured by a pledge of an equity interest in the mortgage borrower that owns the real estate rather than an interest in a mortgage.

Investments in loans may include unfunded loan commitments, which are contractual obligations for funding. Unfunded loan commitments may include revolving credit facilities, which may obligate a Fund to supply additional cash to the borrower on demand. Unfunded loan commitments represent a future obligation in full, even though a percentage of the committed amount may not be utilized by the borrower. When investing in a loan participation, a Fund has the right to receive payments of principal, interest and any fees to which it is entitled only from the agent selling the loan agreement and only upon receipt of payments by the agent from the borrower. A Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a loan. In certain circumstances, a Fund may receive a penalty fee upon the prepayment of a loan by a borrower. Fees earned or paid are recorded as a component of interest income or interest expense, respectively, on the Statements of Operations. Unfunded loan commitments, if any, are reflected as a liability on the Statements of Assets and Liabilities.

Mortgage-Related and Other Asset-Backed Securities directly or indirectly represent a participation in, or are secured by and payable from, loans on real property. Mortgage-related securities are interests in pools of residential or commercial mortgage loans, including mortgage loans made by savings and loan institutions, mortgage bankers, commercial banks and others. These securities provide a monthly payment which consists of both interest and principal payments. Interest may be determined by fixed or adjustable rates. The rate of prepayments on underlying mortgages will affect the price and

volatility of a mortgage-related security, and may have the effect of shortening or extending the effective duration of the security relative to what was anticipated at the time of purchase. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations, may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. Many of the risks of investing in mortgage-related securities secured by commercial mortgage loans reflect the effects of local and other economic conditions on real estate markets, the ability of tenants to make lease payments and the ability of a property to attract and retain tenants. These securities may be less liquid and may exhibit greater price volatility than other types of mortgage-related or other asset-backed securities. Other asset-backed securities are created from many types of assets, including, but not limited to, auto loans, accounts receivable such as credit card receivables and hospital account receivables, home equity loans, student loans, boat loans, mobile home loans, recreational vehicle loans, manufactured housing loans, aircraft leases, computer leases, syndicated bank loans, peer-to-peer loans and litigation finance loans. The Funds may invest in any level of the capital structure of an issuer of mortgage-backed or asset-backed securities, including the equity or "first loss" tranche.

Collateralized Debt Obligations ("CDOs") include Collateralized Bond Obligations ("CBOs"), Collateralized Loan Obligations ("CLOs") and other similarly structured securities. CBOs, CLOs and other CDOs are types of asset-backed securities. A CBO is a trust which is often backed by a diversified pool of high risk, below investment grade fixed income securities. A CLO is a trust typically collateralized by a pool of loans, which may include, among others, domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. Other CDOs are trusts backed by other types of assets representing obligations of various parties. The risks of an investment in a CDO depend largely on the type of the collateral securities and the class of the CDO in which a Fund invests. In addition to the normal risks associated with fixed income securities discussed elsewhere in this report and each Fund's prospectus and statement of additional information (e.g., prepayment risk, credit risk, liquidity risk, market risk, structural risk, legal risk and interest rate risk (which may be exacerbated if the interest rate payable on a structured financing changes based on multiples of changes in interest rates or inversely to changes in interest rates)), CBOs, CLOs and other CDOs carry additional risks including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments, (ii) the quality of the collateral may decline

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| **246** | **PIMCO BOND FUNDS** |

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in value or default, (iii) risks related to the capability of the servicer of the securitized assets, (iv) the risk that a Fund may invest in CBOs, CLOs, or other CDOs that are subordinate to other classes, (v) the structure and complexity of the transaction and the legal documents may not be fully understood at the time of investment and could lead to disputes with the issuer or among investors regarding the characterization of proceeds or unexpected investment results, and (vi) the CDO's manager may perform poorly.

Collateralized Mortgage Obligations ("CMOs") are debt obligations of a legal entity that are collateralized by whole mortgage loans or private mortgage bonds and divided into classes. CMOs are structured into multiple classes, often referred to as "tranches," with each class bearing a different stated maturity and entitled to a different schedule for payments of principal and interest, including prepayments. CMOs may be less liquid and may exhibit greater price volatility than other types of mortgage-related or asset-backed securities.

Stripped Mortgage-Backed Securities ("SMBS") are derivative multi-class mortgage securities. SMBS are usually structured with two classes that receive different proportions of the interest and principal distributions on a pool of mortgage assets. An SMBS will have one class that will receive all of the interest (the interest-only or "IO" class), while the other class will receive the entire principal (the principal-only or "PO" class). Payments received for IOs are included in interest income on the Statements of Operations. Because no principal will be received at the maturity of an IO class, adjustments are made to the cost of the security on a monthly basis until maturity. These adjustments are included in interest income on the Statements of Operations. Payments received for POs are treated as reductions to the cost and par value of the securities.

Payment In-Kind Securities may give the issuer the option at each interest payment date of making interest payments in either cash and/or additional debt securities. Those additional debt securities usually have the same terms, including maturity dates and interest rates, and associated risks as the original bonds. The daily market quotations of the original bonds may include the accrued interest (referred to as a dirty price) and require a pro rata adjustment from the unrealized appreciation (depreciation) on investments to interest receivable on the Statements of Assets and Liabilities.

Perpetual Bonds are fixed income securities with no maturity date but pay a coupon in perpetuity (with no specified ending or maturity date). Unlike typical fixed income securities, there is no obligation for perpetual bonds to repay principal. The coupon payments, however, are mandatory. While perpetual bonds have no maturity date, they may have a callable date in which the perpetuity is eliminated and the issuer may return the principal received on the specified call date. Additionally, a perpetual bond may have

additional features, such as interest rate increases at periodic dates or an increase as of a predetermined point in the future.

Real Estate Investment Trusts ("REITs") are pooled investment vehicles that own, and typically operate, income-producing real estate. If a REIT meets certain requirements, including distributing to shareholders substantially all of its taxable income (other than net capital gains), then it is generally not taxed on the income distributed to shareholders. Distributions received from REITs may be characterized as income, capital gain or a return of capital. A return of capital is recorded by a Fund as a reduction to the cost basis of its investment in the REIT. REITs are subject to management fees and other expenses, and so a Fund that invest in REITs will bear its proportionate share of the costs of the REITs' operations.

Restricted Investments are subject to legal or contractual restrictions on resale and may generally be sold privately, but may be required to be registered or exempted from such registration before being sold to the public. Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended. Disposal of restricted investments may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Restricted investments held by the Funds as of March 31, 2026, as applicable, are disclosed in the Notes to Schedules of Investments.

Securities Issued by U.S. Government Agencies or Government-Sponsored Enterprises are obligations of and, in certain cases, guaranteed by, the U.S. Government, its agencies or instrumentalities. The U.S. Government does not guarantee the net asset value of a Fund's shares. Some U.S. Government securities, such as Treasury bills, notes and bonds, and securities guaranteed by the Government National Mortgage Association, are supported by the full faith and credit of the U.S. Government; others, such as those of the Federal Home Loan Banks, are supported by the right of the issuer to borrow from the U.S. Department of the Treasury (the "U.S. Treasury"); and others, such as those of the Federal National Mortgage Association ("FNMA" or "Fannie Mae"), are supported by the discretionary authority of the U.S. Government to purchase the agency's obligations. U.S. Government securities may include zero coupon securities, which do not distribute interest on a current basis and tend to be subject to greater risk than interest-paying securities of similar maturities.

Government-related guarantors (i.e., not backed by the full faith and credit of the U.S. Government) include FNMA and the Federal Home Loan Mortgage Corporation ("FHLMC" or "Freddie Mac"). FNMA is a government-sponsored corporation. FNMA purchases conventional (i.e., not insured or guaranteed by any government agency) residential mortgages from a list of approved seller/servicers which include state

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| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **247** |

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Notes to Financial Statements (Cont.)

and federally chartered savings and loan associations, mutual savings banks, commercial banks, credit unions and mortgage bankers. Pass-through securities issued by FNMA are guaranteed as to timely payment of principal and interest by FNMA but are not backed by the full faith and credit of the U.S. Government. FHLMC is a government sponsored corporation that issues Participation Certificates ("PCs"), which are pass-through securities, each representing an undivided interest in a pool of residential mortgages. FHLMC guarantees the timely payment of interest and ultimate collection of principal, but PCs are not backed by the full faith and credit of the U.S. Government.

In June 2019, FNMA and FHLMC started issuing Uniform Mortgage-Backed Securities in place of their current offerings of TBA-eligible securities (the "Single Security Initiative"). The Single Security Initiative seeks to support the overall liquidity of the TBA market and aligns the characteristics of FNMA and FHLMC certificates. The long-term effects that the Single Security Initiative may have on the market for TBA and other mortgage-backed securities are uncertain.

Roll-timing strategies can be used where a Fund seeks to extend the expiration or maturity of a position, such as a TBA security on an underlying asset, by closing out the position before expiration and contemporaneously opening a new position with respect to substantially the same underlying asset with a later expiration date. TBA securities purchased or sold are reflected on the Statements of Assets and Liabilities as an asset or liability, respectively. Recently finalized FINRA rules include mandatory margin requirements for the TBA market that require the Funds to post collateral in connection with their TBA transactions. There is no similar requirement applicable to the Funds' TBA counterparties. The required collateralization of TBA trades could increase the cost of TBA transactions to the Funds and impose added operational complexity.

Separate Trading of Registered Interest and Principal of Securities ("STRIPS") are U.S. Treasury fixed income securities in which the principal is separated, or stripped, from the interest and each takes the form of zero coupon securities. A STRIP is sold at a significant discount to face value and offers no interest payments; rather, investors receive payment at maturity. Zero coupon securities do not distribute interest on a current basis and tend to be subject to greater risk than interest-paying securities.

Warrants are securities that are usually issued together with a debt security or preferred security and that give the holder the right to buy a proportionate amount of common stock at a specified price. Warrants normally have a life that is measured in years and entitle the holder to buy common stock of a company at a price that is usually higher than the market price at the time the warrant is issued. Warrants may entail greater risks than certain other types of investments. Generally, warrants do not carry the right to receive dividends or exercise voting rights with respect to the underlying securities, and they do not

represent any rights in the assets of the issuer. In addition, their value does not necessarily change with the value of the underlying securities, and they cease to have value if they are not exercised on or before their expiration date. If the market price of the underlying stock does not exceed the exercise price during the life of the warrant, the warrant will expire worthless. Warrants may increase the potential profit or loss to be realized from the investment as compared with investing the same amount in the underlying securities. Similarly, the percentage increase or decrease in the value of an equity security warrant may be greater than the percentage increase or decrease in the value of the underlying common stock. Warrants may relate to the purchase of equity or debt securities. Debt obligations with warrants attached to purchase equity securities have many characteristics of convertible securities and their prices may, to some degree, reflect the performance of the underlying stock. Debt obligations also may be issued with warrants attached to purchase additional debt securities at the same coupon rate. A decline in interest rates would permit a Fund to sell such warrants at a profit. If interest rates rise, these warrants would generally expire with no value.

When-Issued Transactions are purchases or sales made on a when-issued basis. These transactions are made conditionally because a security, although authorized, has not yet been issued in the market. Transactions to purchase or sell securities on a when-issued basis involve a commitment by a Fund to purchase or sell these securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. A Fund may sell when-issued securities before they are delivered, which may result in a realized gain (loss).

5. BORROWINGS AND OTHER FINANCING TRANSACTIONS

The Funds may enter into the borrowings and other financing transactions described below to the extent permitted by each Fund's respective investment policies.

The following disclosures contain information on a Fund's ability to lend or borrow cash or securities to the extent permitted under the Act, which may be viewed as borrowing or financing transactions by a Fund. The location of these instruments in each Fund's financial statements is described below.

(a) Repurchase Agreements Under the terms of a typical repurchase agreement, a Fund purchases an underlying debt obligation (collateral) subject to an obligation of the seller to repurchase, and a Fund to resell, the obligation at an agreed-upon price and time. In an open maturity repurchase agreement, there is no pre-determined repurchase date and the agreement can be terminated by a Fund or counterparty at any time. The underlying securities for all repurchase agreements are held by a Fund's custodian or designated subcustodians (in the case of tri-party repurchase agreements). Traditionally, a Fund has used

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March 31, 2026

bilateral repurchase agreements wherein the underlying securities will be held by a Fund's custodian. The market value of the collateral must be equal to or exceed the total amount of the repurchase obligations, including interest. Repurchase agreements, if any, including accrued interest, are included on the Statements of Assets and Liabilities. Interest earned is recorded as a component of interest income on the Statements of Operations. In periods of increased demand for collateral, a Fund may pay a fee for the receipt of collateral, which may result in interest expense to a Fund.

(b) Reverse Repurchase Agreements In a reverse repurchase agreement, a Fund delivers a security in exchange for cash to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed-upon price and date. In an open maturity reverse repurchase agreement, there is no pre-determined repurchase date and the agreement can be terminated by a Fund or counterparty at any time. A Fund is entitled to receive principal and interest payments, if any, made on the security delivered to the counterparty during the term of the agreement. Cash received in exchange for securities delivered plus accrued interest payments to be made by a Fund to counterparties are reflected as a liability on the Statements of Assets and Liabilities. Interest payments made by a Fund to counterparties are recorded as a component of interest expense on the Statements of Operations. In periods of increased demand for the security, a Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. A Fund will segregate assets determined to be liquid by the Adviser or will otherwise cover its obligations under reverse repurchase agreements.

(c) Sale-Buybacks A sale-buyback financing transaction consists of a sale of a security by a Fund to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed-upon price and date. A Fund is not entitled to receive principal and interest payments, if any, made on the security sold to the counterparty during the term of the agreement. The agreed-upon proceeds for securities to be repurchased by a Fund are reflected as a liability on the Statements of Assets and Liabilities. A Fund will recognize net income represented by the price differential between the price received for the transferred security and the agreed-upon repurchase price. This is commonly referred to as the 'price drop'. A price drop consists of (i) the foregone interest and inflationary income adjustments, if any, a Fund would have otherwise received had the security not been sold and (ii) the negotiated financing terms between a Fund and counterparty. Foregone interest and inflationary income adjustments, if any, are recorded as components of interest income on the Statements of Operations. Interest payments based upon negotiated financing terms made by a Fund to counterparties are recorded as a component of interest expense on the Statements of

Operations. In periods of increased demand for the security, a Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. A Fund will segregate assets determined to be liquid by the Adviser or will otherwise cover its obligations under sale-buyback transactions.

(d) Short Sales Short sales are transactions in which a Fund sells a security that it does not own in anticipation that the market price of that security will decline. A Fund may make short sales of securities: (i) to offset potential declines in long positions in similar securities, (ii) to increase the flexibility of a Fund, (iii) for investment return, (iv) as part of a risk arbitrage strategy, and (v) as part of its overall portfolio management strategies involving the use of derivative instruments. When a Fund makes a short sale, it will often borrow the security sold short and deliver it to the broker-dealer through which it made the short sale as collateral for its obligation to deliver the security upon conclusion of the sale. A Fund will ordinarily have to pay a fee or premium to borrow a security and be obligated to repay the lender of the security any dividend or interest that accrues on the security during the period of the loan. Securities sold in short sale transactions and the dividend or interest payable on such securities, if any, are reflected as payable for short sales on the Statements of Assets and Liabilities. Short sales expose a Fund to the risk that it will be required to cover its short position at a time when the security or other asset has appreciated in value, thus resulting in losses to a Fund. A short sale is "against the box" if a Fund holds in its portfolio or has the right to acquire the security sold short, or securities identical to the security sold short, at no additional cost. A Fund will be subject to additional risks to the extent that it engages in short sales that are not "against the box." A Fund's loss on a short sale could theoretically be unlimited in cases where the Fund is unable, for whatever reason, to close out its short position.

(e) Interfund Lending In accordance with an exemptive order (the "Order") from the SEC, the Funds of the Trust may participate in a joint lending and borrowing facility for temporary purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by each Fund's investment policies and restrictions. The Funds are currently permitted to borrow under the Interfund Lending Program. A lending fund may lend in aggregate up to 15% of its current net assets at the time of the interfund loan, but may not lend more than 5% of its net assets to any one borrowing fund through the Interfund Lending Program. A borrowing fund may not borrow through the Interfund Lending Program or from any other source if its total outstanding borrowings immediately after the borrowing would be more than 33 1/3% of its total assets (or any lower threshold provided for by the fund's investment restrictions). If a borrowing fund's total outstanding borrowings exceed 10% of its total assets, each of its outstanding

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| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **249** |

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Notes to Financial Statements (Cont.)

interfund loans will be subject to collateralization of at least 102% of the outstanding principal value of the loan. All interfund loans are for temporary or emergency purposes and the interfund loan rate to be charged will be the average of the highest current overnight repurchase agreement rate available to a lending fund and the bank loan rate, as calculated according to a formula established by the Board.

During the period ended March 31, 2026, the Funds did not participate in the Interfund Lending Program.

6. FINANCIAL DERIVATIVE INSTRUMENTS

The Funds may enter into the financial derivative instruments described below to the extent permitted by each Fund's respective investment policies.

The following disclosures contain information on how and why the Funds use financial derivative instruments, and how financial derivative instruments affect the Funds' financial position, results of operations and cash flows. The location and fair value amounts of these instruments on the Statements of Assets and Liabilities and the net realized gain (loss) and net change in unrealized appreciation (depreciation) on the Statements of Operations, each categorized by type of financial derivative contract and related risk exposure, are included in a table in the Notes to Schedules of Investments. The financial derivative instruments outstanding as of period end and the amounts of net realized gain (loss) and net change in unrealized appreciation (depreciation) on financial derivative instruments during the period, as disclosed in the Notes to Schedules of Investments, serve as indicators of the volume of financial derivative activity for the Funds.

(a) Forward Foreign Currency Contracts may be engaged, in connection with settling planned purchases or sales of securities, to hedge the currency exposure associated with some or all of a Fund's securities or as part of an investment strategy. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked to market daily, and the change in value is recorded by a Fund as an unrealized gain (loss). Realized gains (losses) are equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed and are recorded upon delivery or receipt of the currency. These contracts may involve market risk in excess of the unrealized gain (loss) reflected on the Statements of Assets and Liabilities. In addition, a Fund could be exposed to risk if the counterparties are unable to meet the terms of the contracts or if the value of the currency changes unfavorably to the U.S. dollar. To mitigate such risk, cash or securities may be exchanged as collateral pursuant to the terms of the underlying contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(b) Futures Contracts are agreements to buy or sell a security or other asset for a set price on a future date and are traded on an exchange. A Fund may use futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in market value of the securities held by a Fund and the prices of futures contracts and the possibility of an illiquid market. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, a Fund is required to deposit with its futures broker an amount of cash, U.S. Government and Agency Obligations, or select sovereign debt, in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and based on such movements in the price of the contracts, an appropriate payable or receivable for the change in value may be posted or collected by a Fund ("Futures Variation Margin"). Futures Variation Margins, if any, are disclosed within centrally cleared financial derivative instruments on the Statements of Assets and Liabilities. Gains (losses) are recognized but not considered realized until the contracts expire or close. Futures contracts involve, to varying degrees, risk of loss in excess of the Futures Variation Margin included within exchange traded or centrally cleared financial derivative instruments on the Statements of Assets and Liabilities.

(c) Options Contracts may be written or purchased to enhance returns or to hedge an existing position or future investment. A Fund may write call and put options on securities and financial derivative instruments it owns or in which it may invest. Writing put options tends to increase a Fund's exposure to the underlying instrument. Writing call options tends to decrease a Fund's exposure to the underlying instrument. When a Fund writes a call or put, an amount equal to the premium received is recorded and subsequently marked to market to reflect the current value of the option written. These amounts are included on the Statements of Assets and Liabilities. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying futures, swap, security or currency transaction to determine the realized gain (loss). Certain options may be written with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. A Fund as a writer of an option has no control over whether the underlying instrument may be sold ("call") or purchased ("put") and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk a Fund may not be able to enter into a closing transaction because of an illiquid market.

Purchasing call options tends to increase a Fund's exposure to the underlying instrument. Purchasing put options tends to decrease a

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| **250** | **PIMCO BOND FUNDS** |

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March 31, 2026

Fund's exposure to the underlying instrument. A Fund pays a premium which is included as an asset on the Statements of Assets and Liabilities and subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain (loss) when the underlying transaction is executed.

Commodity Options are options on commodity futures contracts ("Commodity Option"). The underlying instrument for the Commodity Option is not the commodity itself, but rather a futures contract for that commodity. The exercise of a Commodity Option will not include physical delivery of the underlying commodity but will result in a cash transfer for the amount of the difference between the current market value of the underlying futures contract and the strike price. For an option that is in-the-money, a Fund will normally offset its position rather than exercise the option to retain any remaining time value.

Credit Default Swaptions may be written or purchased to hedge exposure to the credit risk of an investment without making a commitment to the underlying instrument. A credit default swaption is an option to sell or buy credit protection on a specific reference by entering into a pre-defined swap agreement by some specified date in the future.

Foreign Currency Options may be written or purchased to be used as a short or long hedge against possible variations in foreign exchange rates or to gain exposure to foreign currencies.

Interest Rate-Capped Options may be written or purchased to enhance returns or for hedging opportunities. The purpose of purchasing interest rate-capped options is to protect a Fund from floating rate risk above a certain rate on a given notional exposure. A floor can be used to give downside protection to investments in interest rate linked products.

Interest Rate Swaptions may be written or purchased to enter into a pre-defined swap agreement or to shorten, extend, cancel or otherwise modify an existing swap agreement, by some specified date in the future. The writer of the swaption becomes the counterparty to the swap if the buyer exercises. The interest rate swaption agreement will specify whether the buyer of the swaption will be a fixed-rate receiver or a fixed-rate payer upon exercise.

Options on Exchange-Traded Futures Contracts ("Futures Option") may be written or purchased to hedge an existing position or future investment, for speculative purposes or to manage exposure to market movements. A Futures Option is an option contract in which the underlying instrument is a single futures contract.

Options on Securities may be written or purchased to enhance returns or to hedge an existing position or future investment. An option on a security uses a specified security as the underlying instrument for the option contract.

(d) Swap Agreements are bilaterally negotiated agreements between a Fund and a counterparty to exchange or swap investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap agreements may be privately negotiated in the over the counter market ("OTC swaps") or may be cleared through a third party, known as a central counterparty or derivatives clearing organization ("Centrally Cleared Swaps"). A Fund may enter into asset, credit default, cross-currency, interest rate, total return, variance and other forms of swap agreements to manage its exposure to credit, currency, interest rate, commodity, equity and inflation risk. In connection with these agreements, securities or cash may be identified as collateral or margin in accordance with the terms of the respective swap agreements to provide assets of value and recourse in the event of default or bankruptcy/insolvency.

Centrally Cleared Swaps are marked to market daily based upon valuations as determined from the underlying contract or in accordance with the requirements of the central counterparty or derivatives clearing organization. Changes in market value, if any, are reflected as a component of net change in unrealized appreciation (depreciation) on the Statements of Operations. Daily changes in valuation of centrally cleared swaps ("Swap Variation Margin"), if any, are disclosed within centrally cleared financial derivative instruments on the Statements of Assets and Liabilities. Centrally Cleared and OTC swap payments received or paid at the beginning of the measurement period are included on the Statements of Assets and Liabilities and represent premiums paid or received upon entering into the swap agreement to compensate for differences between the stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, interest rates and other relevant factors). Upfront premiums received (paid) are initially recorded as liabilities (assets) and subsequently marked to market to reflect the current value of the swap. These upfront premiums are recorded as realized gain (loss) on the Statements of Operations upon termination or maturity of the swap. A liquidation payment received or made at the termination of the swap is recorded as realized gain (loss) on the Statements of Operations. Net periodic payments received or paid by a Fund are included as part of realized gain (loss) on the Statements of Operations.

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| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **251** |

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Notes to Financial Statements (Cont.)

For purposes of applying certain of a Fund's investment policies and restrictions, swap agreements, like other derivative instruments, may be valued by a Fund at market value, notional value or full exposure value. In the case of a credit default swap, in applying certain of a Fund's investment policies and restrictions, the Funds will value the credit default swap at its notional value or its full exposure value (i.e., the sum of the notional amount for the contract plus the market value), but may value the credit default swap at market value for purposes of applying certain of a Fund's other investment policies and restrictions. For example, a Fund may value credit default swaps at full exposure value for purposes of a Fund's credit quality guidelines (if any) because such value in general better reflects a Fund's actual economic exposure during the term of the credit default swap agreement. As a result, a Fund may, at times, have notional exposure to an asset class (before netting) that is greater or lesser than the stated limit or restriction noted in a Fund's prospectus. In this context, both the notional amount and the market value may be positive or negative depending on whether a Fund is selling or buying protection through the credit default swap. The manner in which certain securities or other instruments are valued by a Fund for purposes of applying investment policies and restrictions may differ from the manner in which those investments are valued by other types of investors.

Entering into swap agreements involves, to varying degrees, elements of interest, credit, market and documentation risk in excess of the amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may fail to perform or meet an obligation or disagree as to the meaning of contractual terms in the agreements and that there may be unfavorable changes in interest rates or the values of the asset upon which the swap is based.

A Fund's maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract's remaining life, to the extent that amount is positive. The risk may be mitigated by having a master netting arrangement between a Fund and the counterparty and by the posting of collateral to a Fund to cover a Fund's exposure to the counterparty.

To the extent a Fund has a policy to limit the net amount owed to or to be received from a single counterparty under existing swap agreements, such limitation only applies to counterparties to OTC swaps and does not apply to centrally cleared swaps where the counterparty is a central counterparty or derivatives clearing organization.

Asset Swap Agreements convert the cash flows from an underlying security from fixed coupon to floating coupon, floating coupon to fixed

coupon, or from one currency to another. The terms and conditions of the asset swap are the same as for an interest rate swap. However, an asset swap is unique in that one interest payment is tied to cash flows from an investment, such as corporate bonds or sovereign issues. The other payment is typically tied to an alternative index, such as a floating rate or a rate denominated in a different currency.

Credit Default Swap Agreements on corporate, loan, sovereign, U.S. municipal or U.S. Treasury issues are entered into to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund owns or has exposure to the referenced obligation) or to take an active long or short position with respect to the likelihood of a particular issuer's default. Credit default swap agreements involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return in the event that the referenced entity, obligation or index, as specified in the swap agreement, undergoes a certain credit event. As a seller of protection on credit default swap agreements, a Fund will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap provided that there is no credit event. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, a Fund would be subject to investment exposure on the notional amount of the swap.

If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a 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, other deliverable obligations 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. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a 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, other deliverable obligations 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. Recovery values are estimated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value. The ability to deliver other

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obligations may result in a cheapest-to-deliver option (the buyer of protection's right to choose the deliverable obligation with the lowest value following a credit event).

Credit default swap agreements on credit indexes involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indexes are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indexes may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities, emerging markets and/or various credit ratings within each sector. Credit indexes are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name's weight in the index. The composition of the indexes changes periodically, usually every six months, and for most indexes, each name has an equal weight in the index. Credit default swaps on credit indexes may be used to hedge a portfolio of credit default swaps or bonds, which is less expensive than it would be to buy many credit default swaps to achieve a similar effect. Credit default swaps on indexes are instruments for protecting investors owning bonds against default, and traders use them to speculate on changes in credit quality.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate, loan, sovereign, U.S. municipal or U.S. Treasury issues as of period end, if any, are disclosed in the Notes to Schedules of Investments. They serve as an indicator of the current status of payment/performance risk and represent the likelihood or risk of default for the reference entity. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. For credit default swap agreements on asset-backed securities and credit indexes, the quoted market prices and resulting values, as well as the annual payment rate, serve as an indication of the current status of the payment/performance risk. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap agreement equals the notional amount of the agreement. Notional amounts of each individual credit default swap agreement outstanding as of period end for which a Fund is the seller of protection are disclosed in the Notes to Schedules of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Fund for the same referenced entity or entities.

Interest Rate Swap Agreements may be entered into to help hedge against interest rate risk exposure as the value of the fixed rate bonds that the Funds hold may decrease if interest rates rise. To help hedge against this risk and to maintain its ability to generate income at prevailing market rates, a Fund may enter into interest rate swap agreements. Interest rate swap agreements involve the exchange by a Fund with another party for their respective commitment to pay or receive interest on the notional amount of principal. Certain forms of interest rate swap agreements may include: (i) interest rate caps, under which, in return for a premium, one party agrees to make payments to the other to the extent that interest rates exceed a specified rate, or "cap", (ii) interest rate floors, under which, in return for a premium, one party agrees to make payments to the other to the extent that interest rates fall below a specified rate, or "floor", (iii) interest rate collars, under which a party sells a cap and purchases a floor or vice versa in an attempt to protect itself against interest rate movements exceeding given minimum or maximum levels, (iv) callable interest rate swaps, under which the buyer pays an upfront fee in consideration for the right to early terminate the swap transaction in whole, at zero cost and at a predetermined date and time prior to the maturity date, (v) spreadlocks, which allow the interest rate swap users to lock in the forward differential (or spread) between the interest rate swap rate and a specified benchmark, or (vi) basis swaps, under which two parties can exchange variable interest rates based on different segments of money markets.

Total Return Swap Agreements are entered into to gain or mitigate exposure to the underlying reference asset. Total return swap agreements involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset and on a fixed or variable interest rate. Total return swap agreements may involve commitments to pay interest in exchange for a market-linked return. One counterparty pays out the total return of a specific underlying reference asset, which may include a single security, a basket of securities or an index, and in return receives a fixed or variable rate. At the maturity date, a net cash flow is exchanged where the total return is equivalent to the return of the underlying reference

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Notes to Financial Statements (Cont.)

asset less a financing rate, if any. As a receiver, a Fund would receive payments based on any net positive total return and would owe payments in the event of a net negative total return. As the payer, a

Fund would owe payments on any net positive total return and would receive payments in the event of a net negative total return.

7. PRINCIPAL AND OTHER RISKS

(a) Principal Risks

The principal risks of investing in a Fund, which could adversely affect its net asset value, yield and total return, are listed below. Please see "Description of Principal Risks" in a Fund's prospectus for a more detailed description of the risks of investing in a Fund.

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|  | PIMCO<br>Climate<br>Bond<br>Fund | PIMCO<br>Dynamic<br>Bond<br>Fund | PIMCO<br>Extended<br>Duration<br>Fund | **PIMCO**<br> **GNMA and<br>Government<br>Securities<br>Fund** | PIMCO<br>Investment<br>Grade<br>Credit<br>Bond Fund | PIMCO<br>Long<br>Duration<br>Total<br>Return<br>Fund | PIMCO<br>Long-Term<br>U.S.<br>Government<br>Fund | PIMCO<br>Low Duration<br>Opportunities<br>Fund |
|  New Fund |  |  |  |  |  |  |  |  |
|  Small Fund | X |  |  |  |  |  |  | X |
|  Climate-Related Investing | X |  |  |  |  |  |  |  |
|  Interest Rate | X | X | X | X | X | X | X | X |
|  Call | X | X | X | X | X | X | X | X |
|  Credit | X | X | X | X | X | X | X | X |
|  High Yield | X | X | X |  | X | X |  | X |
|  Market | X | X | X | X | X | X | X | X |
|  Issuer | X | X | X | X | X | X | X | X |
|  Liquidity | X | X | X | X | X | X |  | X |
|  Derivatives | X | X | X | X | X | X | X | X |
|  Equity | X | X | X | X | X | X | X | X |
|  Mortgage-Related and Other Asset-Backed Securities | X | X | X | X | X | X | X | X |
|  Collateralized Loan Obligations |  | X |  |  |  |  |  | X |
|  Extension |  |  |  |  |  |  |  |  |
|  Foreign (Non-U.S.) Investment | X | X | X | X | X | X |  | X |
|  Emerging Markets | X | X | X | X | X | X |  | X |
|  Sovereign Debt | X | X | X |  | X | X |  | X |
|  Currency | X | X | X |  | X | X |  | X |
|  Prepayment |  |  |  |  |  |  |  |  |
|  Privately Issued Mortgage-Related Securities |  |  |  |  |  |  |  |  |
|  Real Estate | X |  |  |  |  |  |  |  |
|  Leveraging | X | X | X | X | X | X | X | X |
|  Management | X | X | X | X | X | X | X | X |
|  Short Exposure | X | X | X | X | X | X | X | X |
|  Environmental, Social and Governance |  |  |  |  |  |  |  |  |
|  Environmental, Social and Governance and Faith-Based Values Investing |  |  |  |  |  |  |  |  |
|  Convertible Securities |  |  |  |  |  |  |  |  |
|  Distribution Rate |  |  |  |  |  |  |  |  |
|  Tax-Efficient Investing |  |  |  |  |  |  |  | X |
|  Turnover |  | X | X | X | X | X | X | X |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | PIMCO<br>Moderate<br>Duration<br>Fund | PIMCO<br>Mortgage<br>Opportunities<br>and Bond<br>Fund | PIMCO<br>Total<br>Return<br>ESG<br>Fund | PIMCO<br>Total<br>Return<br>Fund II | PIMCO<br>Total<br>Return<br>Fund IV | PIMCO<br>Total<br>Return<br>Fund V |
|  New Fund |  |  |  |  |  | X |
|  Small Fund |  |  |  |  |  | X |
|  Climate-Related Investing |  |  |  |  |  |  |
|  Interest Rate | X | X | X | X | X | X |
|  Call | X | X | X | X | X | X |
|  Credit | X | X | X | X | X | X |

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| | |
|:---|:---|
| **254** | **PIMCO BOND FUNDS** |

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March 31, 2026

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **PIMCO<br>Moderate<br>Duration<br>Fund** | **PIMCO<br>Mortgage<br>Opportunities<br>and Bond<br>Fund** | **PIMCO<br>Total<br>Return<br>ESG<br>Fund** | **PIMCO<br>Total<br>Return<br>Fund II** | **PIMCO<br>Total<br>Return<br>Fund IV** | **PIMCO<br>Total<br>Return<br>Fund V** |
|  High Yield | X | X | X |  |  | X |
|  Market | X | X | X | X | X | X |
|  Issuer | X | X | X | X | X | X |
|  Liquidity | X | X | X | X | X | X |
|  Derivatives | X | X | X | X | X | X |
|  Equity | X | X | X | X | X | X |
|  Mortgage-Related and Other Asset-Backed Securities | X | X | X | X | X | X |
|  Collateralized Loan Obligations |  | X | X | X | X | X |
|  Extension |  | X |  |  |  |  |
|  Foreign (Non-U.S.) Investment | X |  | X |  | X | X |
|  Emerging Markets | X |  | X |  | X | X |
|  Sovereign Debt | X |  | X |  | X | X |
|  Currency | X |  | X |  |  | X |
|  Prepayment |  | X |  |  |  |  |
|  Privately Issued Mortgage-Related Securities |  | X |  |  |  |  |
|  Real Estate |  | X |  |  |  |  |
|  Leveraging | X | X | X | X | X | X |
|  Management | X | X | X | X | X | X |
|  Short Exposure | X | X | X | X | X | X |
|  Environmental, Social and Governance |  |  | X |  |  |  |
|  Environmental, Social and Governance and Faith-Based Values Investing |  |  |  |  |  | X |
|  Convertible Securities |  | X |  |  | X |  |
|  Distribution Rate |  | X |  |  |  |  |
|  Tax-Efficient Investing |  |  |  |  |  |  |
|  Turnover | X | X | X | X | X | X |

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New Fund Risk is the risk that a new fund's performance may not represent how the fund is expected to or may perform in the long term. In addition, new funds have limited operating histories for investors to evaluate and new funds may not attract sufficient assets to achieve investment and trading efficiencies.

Small Fund Risk is the risk that a smaller fund may not achieve investment or trading efficiencies or may be limited in ability to participate in certain investment opportunities due to its size. Additionally, a smaller fund may be more adversely affected by large purchases or redemptions by investors.

Climate-Related Investing Risk is the risk that, because a Fund's climate-related investment strategy may select or typically exclude securities of certain issuers for reasons in addition to performance, the Fund's performance may differ from funds that do not utilize a climate-related investment strategy. Climate-related investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by PIMCO or any judgment exercised by PIMCO will reflect the opinions of any particular investor. The Fund also faces the risk that reliance on third-party data and ratings, which may be inconsistent, incomplete, or inaccurate, could lead to misaligned investments and adversely impact its performance and objectives.

Interest Rate Risk is the risk that fixed income securities will fluctuate in value due to changes in interest rates; a fund with a longer average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration. Factors such as government and central bank policy, inflation, the economy, and the market for bonds can impact interest rates and yields.

Call Risk is the risk that an issuer may exercise its right to redeem a fixed income security earlier than expected (a call). Issuers may call outstanding securities prior to their maturity for a number of reasons including declining interest rates, changes in credit spreads and improvements in the issuer's credit quality. If an issuer calls a security that a Fund has invested in, the Fund may not recoup the full amount of its initial investment or may not realize the full anticipated earnings from the investment and may be forced to reinvest in lower-yielding securities, securities with greater credit risks or securities with other, less favorable features.

Credit Risk is the risk that a Fund could experience losses if the issuer or guarantor of a fixed income security, the counterparty to a derivative contract, a repurchase agreement, a borrower of portfolio securities, or the issuer or guarantor of collateral, is unable or unwilling, or is perceived (whether by market participants, rating agencies, pricing services or otherwise) as unable or unwilling, to meet its financial obligations.

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **255** |

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Notes to Financial Statements (Cont.)

High Yield Risk is the risk that high yield securities and unrated securities of similar credit quality (commonly known as "junk bonds") are subject to greater levels of market, credit, call and liquidity risks. High yield securities are considered primarily speculative by rating agencies with respect to the issuer's continuing ability to make principal and interest payments, and their values may be more volatile than higher-rated securities of similar maturity.

Market Risk is the risk that the value of securities owned by a Fund may fluctuate, sometimes rapidly or unpredictably, due to a variety of factors affecting securities markets generally or particular industries or sectors.

Issuer Risk is the risk that the value of a security may decline for reasons related to the issuer, such as management performance, changes in financial condition or credit rating, financial leverage, reputation or reduced demand for the issuer's goods or services.

Liquidity Risk is the risk that a particular investment may be difficult to purchase or sell and that a Fund may be unable to sell investments at an advantageous time or price or achieve its desired level of exposure to a certain sector. Liquidity risk may result from the lack of an active market, reduced number and capacity of traditional market participants to make a market in fixed income securities, and may be magnified in changing interest rate environments or other circumstances where investor redemptions from fixed income funds may be higher than normal, causing increased supply in the market due to selling activity. The liquidity of a Fund's shares may be constrained by the liquidity of the Fund's portfolio holdings.

Derivatives Risk is the risk of investing in derivative instruments (such as forwards, futures, options, swaps and structured securities) and other similar investments, including leverage, liquidity, interest rate, market, counterparty (including credit), operational, legal and management risks, and valuation complexity. Changes in the value of a derivative or other similar investment may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a Fund could lose more than the initial amount invested. Derivatives used for hedging or risk management may not operate as intended or may expose a Fund to additional risks. Changes in the value of a derivative or other similar instrument may also create margin delivery or settlement payment obligations for a Fund. A Fund's use of derivatives or other similar investments may result in losses to the Fund, a reduction in the Fund's returns and/or increased volatility. Non-centrally-cleared over-the-counter ("OTC") derivatives or other similar investments are also subject to the risk that a counterparty to the transaction will not fulfill its contractual obligations to the other party, as many of the protections afforded to centrally-cleared derivative transactions might not be available for non-centrally-cleared

OTC derivatives or other similar investments. The primary credit risk on derivatives or other similar investments that are exchange-traded or traded through a central clearing counterparty resides with a Fund's clearing broker or the clearinghouse. Changes in regulations relating to a registered fund's use of derivatives and related instruments could potentially limit or impact a Fund's ability to invest in derivatives, limit a Fund's ability to employ certain strategies that use derivatives or other similar investments and/or adversely affect the value of derivatives or other similar investments and the Fund's performance.

Equity Risk is the risk that the value of equity or equity-related securities, such as common stocks and preferred securities, may decline due to general market conditions which are not specifically related to a particular company or to factors affecting a particular industry or industries. Equity or equity-related securities generally have greater price volatility than fixed income securities. In addition, preferred securities may be subject to greater credit risk or other risks, such as risks related to deferred and omitted distributions, limited voting rights, liquidity, interest rates, regulatory changes and special redemption rights.

Mortgage-Related and Other Asset-Backed Securities Risk is the risk of investing in mortgage-related and other asset-backed securities, including interest rate risk, extension risk, prepayment risk and credit risk. A Fund may invest in any tranche of mortgage-related and other asset-backed securities, including junior and/or equity tranches (to the extent consistent with the Fund's guidelines), which generally carry higher levels of the foregoing risks.

Collateralized Loan Obligations Risk is the risk that investing in collateralized loan obligations ("CLOs") and other similarly structured investments exposes a Fund to heightened credit risk, interest rate risk, liquidity risk, market risk and prepayment and extension risk, as well as the risk of default on the underlying asset. In addition, investments in CLOs carry additional risks, including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) risks related to the capability of the servicer of the securitized assets; (iv) the risk that a Fund may invest in tranches of CLOs that are subordinate to other tranches; (v) the structure and complexity of the transaction and the legal documents may not be fully understood at the time of investment and could lead to disputes with the issuer or among investors regarding the characterization of proceeds or unexpected investment results; and (vi) the CLO's manager may perform poorly.

Extension Risk is the risk that, in periods of rising interest rates, issuers of mortgage-related and other asset-backed securities may pay principal later than expected, which may reduce the value of a Fund's

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|:---|:---|
| **256** | **PIMCO BOND FUNDS** |

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March 31, 2026

investment in such securities and may prevent the Fund from receiving higher interest rates on proceeds reinvested.

Foreign (Non-U.S.) Investment Risk is the risk that investing in foreign (non-U.S.) securities may result in a Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to smaller or less developed markets, differing financial reporting, accounting, corporate governance and auditing standards, increased risk of delayed settlement of portfolio transactions or loss of certificates of portfolio securities, and the risk of unfavorable U.S. or foreign government actions, including nationalization, expropriation or confiscatory taxation, currency blockage, political changes, diplomatic developments, trade restrictions (including tariffs) or the imposition of sanctions and other similar measures. Foreign securities may also be less liquid and more difficult to value than securities of U.S. issuers.

Emerging Markets Risk is the risk of investing in emerging market securities, primarily increased foreign (non-U.S.) investment risk.

Sovereign Debt Risk is the risk that investments in fixed income instruments issued by sovereign entities may decline in value as a result of default or other adverse credit events resulting from an issuer's inability or unwillingness to make principal or interest payments in a timely fashion.

Currency Risk is the risk that foreign (non-U.S.) currencies may fluctuate in value relative to the U.S. dollar, which can affect the value of a Fund's investments in foreign (non-U.S.) currencies or in securities that trade in, and receive revenues in, or in derivatives that provide exposure to, foreign (non-U.S.) currencies.

Prepayment Risk is the risk that, in periods of declining interest rates, issuers of mortgage-related and other asset-backed securities may pay principal more quickly than expected, which results in a Fund foregoing future interest income on the portion of the principal repaid early and may result in the Fund being forced to reinvest investment proceeds at lower interest rates.

Real Estate Risk is the risk that a Fund's investments in real estate investment trusts ("REITs") or real estate-linked derivative instruments will subject the Fund to risks similar to those associated with direct ownership of real estate, including risks related to losses from casualty or condemnation, changes in local and general economic conditions, fluctuations in supply and demand, interest rate changes, zoning laws,

regulatory limitations on rents, property taxes and operating expenses. A Fund's investments in REITs or real estate-linked derivative instruments subject it to management and tax risks. In addition, REITs that are privately held or not traded on a national securities exchange may subject a Fund to liquidity and valuation risk.

Leveraging Risk is the risk that certain transactions of a Fund, such as reverse repurchase agreements, loans of portfolio securities, and the use of when-issued, delayed delivery or forward commitment transactions, and derivative instruments, may give rise to leverage, magnifying gains and losses and causing a Fund to be more volatile than if it had not been leveraged. This means that leverage entails a heightened risk of loss. The use of leverage may also increase a Fund's sensitivity to interest rate changes and other market risks.

Management Risk is the risk that the investment techniques and risk analyses applied by PIMCO will not produce the desired results and that actual or potential conflicts of interest, legislative, regulatory or tax restrictions, policies or developments may affect the investment techniques available to PIMCO in connection with managing a Fund and may cause PIMCO to restrict or prohibit participation in certain investments. There is no guarantee that the investment objective of a Fund will be achieved.

Short Exposure Risk is the risk of entering into short sales or other short positions, including the potential loss of more money than the actual cost of the investment, and the risk that the third party to the short sale or other short position will not fulfill its contractual obligations, causing a loss to a Fund.

Environmental, Social and Governance Risk is the risk that, because the Fund's ESG strategy may select or typically exclude securities of certain issuers for reasons in addition to performance, the Fund's performance may differ from funds that do not utilize an ESG investing strategy. ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by PIMCO or any judgment exercised by PIMCO will reflect the opinions of any particular investor. The Fund also faces the risk that reliance on third-party data and ratings, which may be inconsistent, incomplete, or inaccurate, could lead to misaligned investments and adversely impact its performance and objectives.

Environmental, Social and Governance and Faith-Based Values Investing Risk is the risk that, because the Fund's ESG and faith-based values investing strategy may select or typically exclude securities of certain issuers for reasons in addition to performance, the Fund's performance may differ from funds that do not utilize an ESG and faith-based values investing strategy. ESG and faith-based values investing is qualitative and subjective by nature, and there is no guarantee that the

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **257** |

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Notes to Financial Statements (Cont.)

factors utilized by PIMCO or any judgment exercised by PIMCO will reflect the opinions of any particular investor. A Fund also faces the risk that reliance on third-party data and ratings, which may be inconsistent, incomplete, or inaccurate, could lead to misaligned investments and adversely impact its performance and objectives.

Convertible Securities Risk is the risk that arises because convertible securities share both fixed income and equity characteristics. Convertible securities are subject to risks to which fixed income and equity investments are subject. These risks include equity risk, interest rate risk, market risk, liquidity risk and credit risk.

Distribution Rate Risk is the risk that a Fund's distribution rate may change unexpectedly as a result of numerous factors, including changes in realized and projected market returns, fluctuations in market interest rates, Fund performance and other factors.

Tax-Efficient Investing Risk is the risk that investment strategies intended to manage capital gain distributions may not succeed, and that such strategies may reduce investment returns or result in investment losses.

Turnover Risk is the risk that high levels of portfolio turnover may increase transaction costs and taxes and may lower investment performance.

(b) Other Risks

In general, a Fund may be subject to additional risks, including, but not limited to, risks related to government regulation and intervention in financial markets, operational risks, risks associated with financial, economic and global market disruptions, and cyber security risks.

Please see a Fund's prospectus and Statement of Additional Information for a more detailed description of the risks of investing in a Fund. Please see the Important Information section of this report for additional discussion of certain regulatory and market developments that may impact a Fund's performance.

Market Disruptions Risk A Fund is subject to investment and operational risks associated with financial, economic and other global market developments and disruptions, including those arising from actual or threatened war or armed conflicts, military conflicts, terrorism, social unrest, recessions, supply chain disruptions, market manipulation, government interventions, defaults and shutdowns, political and regulatory changes or diplomatic developments or the imposition of sanctions and other measures, including the imposition of tariffs, or other U.S. economic policies and any related public health emergencies (such as the spread of infectious diseases, pandemics and epidemics), bank failures and natural/ environmental disasters, which can all negatively impact the securities markets and cause a Fund to lose value. These events can also impair the technology and other operational systems

upon which a Fund's service providers, including PIMCO as a Fund's investment adviser, rely, and could otherwise disrupt a Fund's service providers' ability to fulfill their obligations to a Fund.

Government Intervention in Financial Markets Federal, state, and other governments, their regulatory agencies, or self-regulatory organizations may take actions that affect the regulation of the instruments in which a Fund invests, or the issuers of such instruments, in ways that are unforeseeable. Legislation or regulation may also change the way in which a Fund itself is regulated. Such legislation or regulation could limit or preclude a Fund's ability to achieve its investment objective. Also, while such legislation or regulations are intended to strengthen markets, systems and public finances, they could affect fund expenses and the value of fund investments in unpredictable ways. Furthermore, volatile financial markets can expose a Fund to greater market and liquidity risk and potential difficulty in valuing portfolio instruments held by the Fund. The value of a Fund's holdings is also generally subject to the risk of future local, national, or global economic disturbances based on unknown weaknesses in the markets in which a Fund invests. In addition, it is not certain that the U.S. Government will intervene in response to a future market disturbance and the effect of any such future intervention cannot be predicted. It is difficult for issuers to prepare for the impact of future financial downturns, although companies can seek to identify and manage future uncertainties through risk management programs.

Regulatory Risk Financial entities, such as investment companies and investment advisers, are generally subject to extensive government regulation and intervention. Government regulation and/or intervention may change the way a Fund is regulated, affect the expenses incurred directly by a Fund and the value of its investments, and limit and/or preclude a Fund's ability to achieve its investment objective. Government regulation may change frequently and may have significant adverse consequences. Moreover, government regulation may have unpredictable and unintended effects.

Operational Risk An investment in a Fund, like any fund, can involve operational risks arising from factors such as processing errors, human errors, inadequate or failed internal or external processes, failures in systems and technology, changes in personnel and errors caused by third-party service providers. The occurrence of any of these failures, errors or breaches could result in a loss of information, regulatory scrutiny, reputational damage or other events, any of which could have a material adverse effect on a Fund. While a Fund seeks to minimize such events through controls and oversight, there may still be failures that could cause losses to the Fund.

Cyber Security Risk As the use of complex information technology and communication systems, including cloud-based technology, has become

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|:---|:---|
| **258** | **PIMCO BOND FUNDS** |

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March 31, 2026

more prevalent and interconnected in the course of business, the Funds have become potentially more susceptible to operational and information security risks resulting from breaches in cyber security despite the efforts of PIMCO, a Fund, or their service providers to adopt technologies, processes, and practices intended to mitigate these risks. Disruptions or failures that affect service providers, counterparties, market participants or issuers of securities that are held by a Fund may adversely affect PIMCO or a Fund, including by causing losses or impairing PIMCO's or a Fund's operations. A breach in cyber security refers to both intentional and unintentional cyber events that may, among other things, cause a Fund to lose proprietary information, suffer data corruption and/or destruction or lose operational capacity, result in the unauthorized release or other misuse of confidential information, or otherwise disrupt normal business operations. Geopolitical tensions can increase the scale and sophistication of deliberate cybersecurity attacks, particularly those from nation-states or from entities with nation-state backing, who may desire to use cybersecurity attacks to cause damage or create leverage against geopolitical rivals. Cyber security failures or breaches may result in financial losses to a Fund and its shareholders. These failures or breaches may also result in disruptions to business operations, potentially resulting in financial losses; interference with a Fund's ability to calculate its net asset value, process shareholder transactions or otherwise transact business with shareholders; impediments to trading; violations of applicable privacy and other laws; regulatory fines; penalties; third-party claims in litigation; reputational damage; reimbursement or other compensation costs; additional compliance and cyber security risk management costs and other adverse consequences. In addition, substantial costs may be incurred in order to prevent any cyber incidents in the future. There is also a risk that cyber security breaches may not be detected. The Funds and their shareholders may suffer losses as a result of a cyber security breach related to the Funds, their service providers, trading counterparties or the issuers in which a Fund invests.

8. MASTER NETTING ARRANGEMENTS

A Fund may be subject to various netting arrangements ("Master Agreements") with select counterparties. Master Agreements govern the terms of certain transactions, and are intended to reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that is intended to improve legal certainty. Each type of Master Agreement governs certain types of transactions. Different types of transactions may be traded out of different legal entities or affiliates of a particular organization, resulting in the need for multiple agreements with a single counterparty. As the Master Agreements are specific to unique operations of different asset types, they allow a Fund to close out and net its total exposure to a counterparty in the event of a default with

respect to all the transactions governed under a single Master Agreement with a counterparty. For financial reporting purposes, the Statements of Assets and Liabilities generally present derivative assets and liabilities on a gross basis, which reflects the full risks and exposures prior to netting.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under most Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 depending on the counterparty and the type of Master Agreement. United States Treasury Bills and U.S. dollar cash are generally the preferred forms of collateral, although other securities may be used depending on the terms outlined in the applicable Master Agreement. Securities and cash pledged as collateral are reflected as assets on the Statements of Assets and Liabilities as either a component of Investments at value (securities) or Deposits with counterparty. Cash collateral received is not typically held in a segregated account and as such is reflected as a liability on the Statements of Assets and Liabilities as Deposits from counterparty. The market value of any securities received as collateral is not reflected as a component of NAV. A Fund's overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.

Master Repurchase Agreements and Global Master Repurchase Agreements (individually and collectively "Master Repo Agreements") govern bilateral repurchase, reverse repurchase and certain sale-buyback transactions between a Fund and select counterparties. Master Repo Agreements maintain provisions for, among other things, initiation, income payments, events of default and maintenance of collateral. The market value of transactions under the Master Repo Agreement, collateral pledged or received, and the net exposure by counterparty as of period end are disclosed in the Notes to Schedules of Investments.

Master Securities Forward Transaction Agreements ("Master Forward Agreements") govern certain forward settling transactions, such as TBA securities, delayed-delivery or certain sale-buyback transactions by and between a Fund and select counterparties. The Master Forward Agreements maintain provisions for, among other things, transaction initiation and confirmation, payment and transfer, events of default, termination and maintenance of collateral. The market value of forward settling transactions, collateral pledged or received, and the net exposure by counterparty as of period end is disclosed in the Notes to Schedules of Investments.

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|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **259** |

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Notes to Financial Statements (Cont.)

Customer Account Agreements and related addenda govern cleared derivatives transactions such as futures, options on futures and cleared OTC derivatives. Such transactions require posting of initial margin as determined by each relevant clearing agency which is segregated in an account at a futures commission merchant ("FCM") registered with the Commodity Futures Trading Commission. In the United States, counterparty risk may be reduced as creditors of an FCM cannot have a claim to Fund assets in the segregated account. FCM customers, such as the Funds, are permitted to transfer their customer account (and cleared derivative transactions held in such customer account) from one FCM to another FCM. Upon completion of the transfer, the customer maintains the same economic position with respect to the outstanding exposure. As such, these transfers are not recognized as dispositions and reacquisitions of the affected derivative positions. Variation margin, which reflects changes in market value, is generally exchanged daily, but may not be netted between futures and cleared OTC derivatives unless the parties have agreed to a separate arrangement in respect of portfolio margining. The porting of exposure between FCMs has no impact on the market value or accumulated unrealized appreciation (depreciation), initial margin posted, and any unsettled variation margin; these values as of period end are disclosed in the Notes to Schedules of Investments.

Prime Broker Arrangements may be entered into to facilitate execution and/or clearing of listed equity option transactions or short sales of equity securities between a Fund and selected counterparties. The arrangements provide guidelines surrounding the rights, obligations and other events, including, but not limited to, margin, execution and settlement. These agreements maintain provisions for, among other things, payments, maintenance of collateral, events of default and termination. Margin and other assets delivered as collateral are typically in the possession of the prime broker and would offset any obligations due to the prime broker. The market values of listed options and securities sold short and related collateral are disclosed in the Notes to Schedules of Investments.

International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes ("ISDA Master Agreements") govern bilateral OTC derivative transactions entered into by a Fund

with select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral posting and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement. Any election to terminate early could be material to the financial statements. The ISDA Master Agreement may contain additional provisions that add counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level or as required by regulation. Similarly, if required by regulation, the Funds may be required to post additional collateral beyond coverage of daily exposure. These amounts, if any, may (or if required by law, will) be segregated with a third-party custodian. To the extent the Funds are required by regulation to post additional collateral beyond coverage of daily exposure, they could potentially incur costs, including in procuring eligible assets to meet collateral requirements, associated with such posting. The market value of OTC financial derivative instruments, collateral received or pledged, and net exposure by counterparty as of period end are disclosed in the Notes to Schedules of Investments.

9. FEES AND EXPENSES

(a) Investment Advisory Fee PIMCO is a majority-owned subsidiary of Allianz Asset Management of America LLC ("Allianz Asset Management") and serves as the Adviser to the Trust, pursuant to an investment advisory contract. The Adviser receives a monthly fee from each Fund at an annual rate based on average daily net assets (the "Investment Advisory Fee"). The Investment Advisory Fee for all classes is charged at an annual rate as noted in the table in note (b) below.

(b) Supervisory and Administrative Fee PIMCO serves as administrator (the "Administrator") and provides supervisory and administrative services to the Trust for which it receives a monthly supervisory and administrative fee based on each share class's average daily net assets (the "Supervisory and Administrative Fee"). As the Administrator, PIMCO bears the costs of various third-party services, including audit, custodial, portfolio accounting, legal, transfer agency and printing costs.

The Investment Advisory Fees and Supervisory and Administrative Fees for all classes, as applicable, are charged at the annual rate as noted in the following table (calculated as a percentage of each Fund's average daily net assets attributable to each class):

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Investment Advisory Fee | Supervisory and Administrative Fee | Supervisory and Administrative Fee | Supervisory and Administrative Fee | Supervisory and Administrative Fee | Supervisory and Administrative Fee | Supervisory and Administrative Fee | |
| Fund Name | All Classes | Institutional<br>Class | I-2 | I-3 | Administrative<br>Class | Class A | Class C | Class R |
|  PIMCO Climate Bond Fund | 0.25% | 0.25% | 0.35% | 0.45%<sup>(2)</sup> | N/A | 0.40% | 0.40% | N/A |
|  PIMCO Dynamic Bond Fund | 0.55%<sup>(1)</sup> | 0.25% | 0.35% | 0.45%<sup>(2)</sup> | N/A | 0.40% | 0.40% | 0.40% |
|  PIMCO Extended Duration Fund | 0.25% | 0.25% | 0.35% | N/A | N/A | 0.40% \* | N/A | N/A |
|  PIMCO GNMA and Government Securities Fund | 0.25% | 0.25% | 0.35% | 0.45%<sup>(2)</sup> | N/A | 0.40% | 0.40% | N/A |

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| **260** | **PIMCO BOND FUNDS** |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Investment Advisory Fee** | **Supervisory and Administrative Fee** | **Supervisory and Administrative Fee** | **Supervisory and Administrative Fee** | **Supervisory and Administrative Fee** | **Supervisory and Administrative Fee** | **Supervisory and Administrative Fee** | |
| **Fund Name** | **All Classes** | **Institutional<br>Class** | **I-2** | **I-3** | **Administrative<br>Class** | **Class A** | **Class C** | **Class R** |
|  PIMCO Investment Grade Credit Bond Fund | 0.25% | 0.25% | 0.35% | 0.45% <sup>(2)</sup> | 0.25% | 0.40% | 0.40% | N/A |
|  PIMCO Long Duration Total Return Fund | 0.25% | 0.25% | 0.35% | N/A | N/A | 0.40% | 0.40% | N/A |
|  PIMCO Long-Term U.S. Government Fund | 0.225% | 0.250% | 0.350% | 0.450% <sup>(2)</sup>\* | N/A | 0.350% | 0.350% | N/A |
|  PIMCO Low Duration Opportunities Fund | 0.25% | 0.30% | 0.40% | N/A | N/A | 0.45% | 0.45% | N/A |
|  PIMCO Moderate Duration Fund | 0.25% | 0.21% | 0.31% | N/A | N/A | N/A | N/A | N/A |
|  PIMCO Mortgage Opportunities and Bond Fund | 0.35% | 0.25% | 0.35% | 0.45% <sup>(2)</sup> | N/A | 0.40% | 0.40% | N/A |
|  PIMCO Total Return ESG Fund | 0.25% | 0.25% | 0.35% | 0.45% <sup>(2)</sup> | 0.25% | 0.40% | 0.40% | N/A |
|  PIMCO Total Return Fund II | 0.25% | 0.25% | 0.35% | N/A | N/A | N/A | N/A | N/A |
|  PIMCO Total Return Fund IV | 0.25% | 0.25% | N/A | N/A | N/A | 0.35% | N/A | N/A |
|  PIMCO Total Return Fund V | 0.25% | 0.25% | 0.35% \* | 0.45% <sup>(2)\*</sup> | 0.25% \* | 0.40% | 0.40% \* | N/A |

---

<sup>(1)</sup> PIMCO has contractually agreed, through July 31, 2026, to waive its advisory fee by 0.05% of the average daily net assets attributable to the PIMCO Dynamic Bond Fund. 

<sup>(2)</sup> PIMCO has contractually agreed, through July 31, 2026, to waive its supervisory and administrative fee for I-3 shares by 0.05% of the average daily net assets attributable to I-3 shares of the Fund. 

\* This particular share class has been registered with the SEC, but was not operational during the year ended March 31, 2026.

(c) Distribution and Servicing Fees PIMCO Investments LLC, a wholly-owned subsidiary of PIMCO, serves as the distributor ("Distributor") of the Trust's shares.

The Trust has adopted separate Distribution and Servicing Plans with respect to the Class A, Class C and Class R shares of the Trust pursuant to Rule 12b-1 under the Act. In connection with the distribution of Class C and Class R shares of the Trust, the Distributor receives distribution fees from the Trust of up to 0.75% for Class C shares and 0.25% for Class R shares, and in connection with personal services rendered to Class A, Class C and Class R shareholders and the maintenance of such shareholder accounts, the Distributor receives servicing fees from the Trust of up to 0.25% for each of Class A, Class C and Class R shares (percentages reflect annual rates of the average daily net assets attributable to the applicable class).

The Trust has adopted a Distribution and Servicing Plan with respect to the Administrative Class shares of each Fund pursuant to Rule 12b-1 under the Act (the "Administrative Class Plan"). Under the terms of the Administrative Class Plan, a Fund may compensate the Distributor for providing, or procuring through financial firms, distribution, administrative, recordkeeping, shareholder and/or related services with respect to Administrative Class shares. The Administrative Class Plan permits a Fund to make total payments at an annual rate of up to 0.25% of the average daily net assets attributable to the Administrative Class shares.

The Trust paid distribution and servicing fees at effective rates as noted in the following table (calculated as a percentage of each Fund's average daily net assets attributable to each class):

---

| | | |
|:---|:---|:---|
| | Allowable Rate | Allowable Rate |
|  | Distribution<br>Fee | Servicing<br>Fee |
|  **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; All Funds |  | 0.25% |
|  **Class C** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; All Funds | 0.75% | 0.25% |

---

---

| | | |
|:---|:---|:---|
| | **Allowable Rate** | **Allowable Rate** |
|  | **Distribution Fee** | **Servicing Fee** |
|  **Class R** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; All Funds | 0.25% | 0.25% |
|  | **Distribution and/or Servicing Fee** | **Distribution and/or Servicing Fee** |
|  **Administrative Class** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; All Funds | 0.25% | 0.25% |

---

The Distributor also received the proceeds of the initial sales charges paid by the shareholders upon the purchase of Class A shares, except for the PIMCO Short Asset Investment Fund, and the contingent deferred sales charges paid by the shareholders upon certain redemptions of Class A and Class C shares, except for the PIMCO Government Money Market Fund and the PIMCO Short Asset Investment Fund. For the period ended March 31, 2026, the Distributor retained $3,699,123 representing commissions (sales charges) and contingent deferred sales charges, net of any commission adjustments payable by the Distributor to broker-dealers, from the Trust.

(d) Fund Expenses PIMCO provides or procures supervisory and administrative services for shareholders and also bears the costs of various third-party services required by the Funds, including audit, custodial, portfolio accounting, legal, transfer agency and printing costs. The Trust is responsible for the following expenses: (i) salaries and other compensation of any of the Trust's executive officers and employees who are not officers, directors, stockholders, or employees of PIMCO or its subsidiaries or affiliates; (ii) taxes and governmental fees; (iii) brokerage fees and commissions and other portfolio transaction expenses (including, without limitation, fees and expenses of outside legal counsel or third-party consultants retained in connection with reviewing, negotiating and structuring specialized loans and other investments made by a Fund, and any costs associated with originating loans, asset securitizations, alternative lending-related strategies and so-called "broken-deal costs" (e.g., fees, costs, expenses and liabilities, including, for example, due diligence-related fees, costs, expenses and liabilities, with respect to unconsummated investments)); (iv) costs of borrowing money, including interest expenses; (v) fees and expenses of the Trustees who are not "interested persons" of PIMCO

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **261** |

---

------

Notes to Financial Statements (Cont.)

or the Trust, and any counsel retained exclusively for their benefit; (vi) extraordinary expenses, including costs of litigation and indemnification expenses; (vii) organizational and offering expenses of the Trust and the Funds, and any other expenses which are capitalized in accordance with generally accepted accounting principles; and (viii) any expenses allocated or allocable to a specific class of shares, which include service fees payable with respect to the Administrative Class Shares, and may include certain other expenses as permitted by the Trust's Multi-Class Plan adopted pursuant to Rule 18f-3 under the Act and subject to review and approval by the Trustees. The ratio of expenses to average net assets per share class, as disclosed on the Financial Highlights, may differ from the annual fund operating expenses per share class.

(e) Remuneration Paid to Directors, Officers and Others (N-CSR Item 10) The Trust pays no compensation directly to any Trustee or any other officer who is affiliated with the Administrator, all of whom receive remuneration for their services to the Trust from the Administrator or its affiliates. The pro rata share of Trustee fees for each Fund is reflected on the Statements of Operations as Trustee fees.

(f) Expense Limitation Pursuant to the Expense Limitation Agreement, PIMCO has contractually agreed, through July 31, 2026, to waive a portion of each Fund's Supervisory and Administrative Fee, or reimburse each Fund, to the extent that each Fund's organizational expenses, pro rata share of expenses related to obtaining or maintaining a Legal Entity Identifier and pro rata share of Trustee fees

exceed 0.0049% (the "Expense Limit") (calculated as a percentage of each Fund's average daily net assets attributable to each class). The Expense Limitation Agreement will automatically renew for one-year terms unless PIMCO provides written notice to the Trust at least 30 days prior to the end of the then current term. The waiver, if any, is reflected on the Statements of Operations as a component of Waiver and/or Reimbursement by PIMCO.

Pursuant to a Fee Waiver Agreement, PIMCO has contractually agreed, through July 31, 2026, to waive its advisory fee by 0.05% of the average daily net assets attributable to the PIMCO Dynamic Bond Fund. This Fee Waiver Agreement may be terminated by the Trust upon 90 days' prior written notice to PIMCO.

In any month in which the supervision and administration agreement is in effect, PIMCO is entitled to reimbursement by each Fund of any portion of the supervisory and administrative fee waived or reimbursed pursuant to the Expense Limitation Agreement (the "Reimbursement Amount") within thirty-six months of the time of the waiver, provided that such amount paid to PIMCO will not: i) together with any organizational expenses, pro rata share of expenses related to obtaining or maintaining a Legal Entity Identifier and pro rata Trustee fees, exceed, for such month, the Expense Limit (or the amount of the expense limit in place at the time the amount being recouped was originally waived if lower than the Expense Limit); ii) exceed the total Reimbursement Amount; or iii) include any amounts previously reimbursed to PIMCO.

The total recoverable amounts to PIMCO at March 31, 2026 (from the Investment Advisory Fee Waiver Agreement and Expense Limitation Agreement combined), were as follows (amounts in thousands<sup>†</sup>):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Expiring Within | Expiring Within | Expiring Within | Expiring Within |
| Fund Name | 12 months | 13-24 months | 25-36 months | Total |
|  PIMCO Low Duration Opportunities Fund | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | $1 | $1 | $16 |
|  PIMCO Total Return Fund V | 112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

Pursuant to a Supervisory and Administrative Fee Waiver Agreement, PIMCO has contractually agreed, through July 31, 2026, to waive its supervisory and administrative fee for I-3 shares by 0.05% of the average daily net assets attributable to I-3 shares of each of the PIMCO Climate Bond Fund, PIMCO Dynamic Bond Fund, PIMCO GNMA and Government Securities Fund, PIMCO Investment Grade Credit Bond Fund, PIMCO Long -Term U.S. Government Fund, PIMCO Mortgage Opportunities and Bond Fund, PIMCO Total Return ESG Fund and PIMCO Total Return Fund V. This Supervisory and Administrative Fee Waiver Agreement will automatically renew for one-year terms unless PIMCO provides written notice to the Trust at least 30 days prior to the end of the then current term.

Pursuant to the Expense Limitation Agreement and Supervisory and Administrative Fee Waiver Agreement, waiver amounts are reflected on the Statements of Operations as a component of Waiver and/or Reimbursement by PIMCO. As of March 31, 2026, the Funds below waived and/or reimbursed the following fees (amounts in thousands<sup>†</sup>):

---

| | |
|:---|:---|
| Fund Name | Waived<br>Fees |
|  PIMCO Climate Bond Fund | $1 |
|  PIMCO Dynamic Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365 |
|  PIMCO GNMA and Government Securities Fund | 41 |
|  PIMCO Investment Grade Credit Bond Fund | 66 |
|  PIMCO Low Duration Opportunities Fund | 1 |
|  PIMCO Mortgage Opportunities and Bond Fund | 45 |
|  PIMCO Total Return ESG Fund | 4 |
|  PIMCO Total Return Fund V | 2 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

(g) Acquired Fund Fees and Expenses PIMCO has contractually agreed, through July 31, 2026, for the PIMCO Dynamic Bond Fund, PIMCO Extended Duration Fund, PIMCO GNMA and Government Securities Fund, PIMCO Investment Grade Credit Bond Fund, PIMCO Long Duration Total Return Fund, PIMCO Moderate Duration Fund,

---

| | |
|:---|:---|
| **262** | **PIMCO BOND FUNDS** |

---

------

March 31, 2026

PIMCO Mortgage Opportunities and Bond Fund, PIMCO Total Return Fund II, PIMCO Total Return ESG Fund and PIMCO Total Return Fund IV to waive its Management Fee in an amount equal to the expenses attributable to Investment Advisory, Supervisory and Administrative, and management fees of Underlying Funds indirectly incurred by a Fund's investments in the Underlying Funds.

The waiver will automatically renew for one-year terms unless PIMCO provides written notice to the Trust at least 30 days prior to the end of the then current term. Investors should be aware that an Underlying Fund may engage in securities lending transactions, and the cash collateral received by an Underlying Fund engaging in a securities lending transaction may be invested in short-term liquid fixed income instruments or in money market or short-term funds, or similar investment vehicles, including affiliated money market or short-term funds, as further described in such Underlying Fund's registration statement. In such case, the Underlying Fund will incur investment advisory fees, supervisory and administrative fees, service fees, or other fees in connection with such investment of cash collateral. Ultimately, such fees will be borne by the Funds and will not be waived under the contractual waiver described above. For the period ended March 31, 2026, the Funds below waived and/or reimbursed the following fees (amounts in thousands<sup>†</sup>):

---

| | |
|:---|:---|
| Fund Name | Waived<br>Fees |
|  PIMCO Moderate Duration Fund | $266 |
|  PIMCO Total Return Fund II | 91 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

10. RELATED PARTY TRANSACTIONS

The Adviser, Administrator and Distributor are related parties. Fees paid to these parties are disclosed in Note 9, Fees and Expenses, and the

accrued related party fee amounts are disclosed on the Statements of Assets and Liabilities.

11. GUARANTEES AND INDEMNIFICATIONS

Under the Trust's organizational documents, each Trustee or officer of the Trust is indemnified and each employee or other agent of the Trust (including the Trust's investment manager) may be indemnified, to the extent permitted by the Act, against certain liabilities that may arise out of performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts that contain a variety of indemnification clauses. The Funds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts.

12. PURCHASES AND SALES OF SECURITIES

The length of time a Fund has held a particular security is not generally a consideration in investment decisions. A change in the securities held by a Fund is known as "portfolio turnover." Each Fund may engage in frequent and active trading of portfolio securities to achieve its investment objective(s), particularly during periods of volatile market movements. High portfolio turnover may involve correspondingly greater transaction costs, including brokerage commissions or dealer mark-ups and other transaction costs on the sale of securities and reinvestments in other securities, which are borne by the Fund. Frequent and active trading of a Fund's portfolio holdings may cause adverse tax consequences for shareholders due to an increase in short-term capital gains and may also adversely impact the Fund's after-tax returns. The transaction costs associated with portfolio turnover may adversely affect a Fund's performance. The portfolio turnover rates are reported in the Financial Highlights.

Purchases and sales of securities (excluding short-term investments) for the period ended March 31, 2026 were as follows (amounts in thousands<sup>†</sup>):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | U.S. Government/Agency | U.S. Government/Agency | All Other | All Other |
| Fund Name | Purchases | Sales | Purchases | Sales |
|  PIMCO Climate Bond Fund | $829 | $517 | $15155 | $2590 |
|  PIMCO Dynamic Bond Fund | 29170642 | 29486623 | 917076 | 726804 |
|  PIMCO Extended Duration Fund | 1597251 | 1473843 | 42162 | 5131 |
|  PIMCO GNMA and Government Securities Fund | 45127221 | 44945393 | 39854 | 39853 |
|  PIMCO Investment Grade Credit Bond Fund | 26195549 | 25894058 | 3067197 | 3028735 |
|  PIMCO Long Duration Total Return Fund | 7431758 | 6887969 | 481145 | 446624 |
|  PIMCO Long-Term U.S. Government Fund | 2092056 | 2092793 | 21321 | 2597 |
|  PIMCO Low Duration Opportunities Fund | 858453 | 871295 | 31785 | 20988 |
|  PIMCO Moderate Duration Fund | 5069786 | 4945186 | 499462 | 252751 |
|  PIMCO Mortgage Opportunities and Bond Fund | 272605253 | 268549674 | 2811157 | 861555 |
|  PIMCO Total Return ESG Fund | 3662778 | 3673463 | 288240 | 260677 |
|  PIMCO Total Return Fund II | 2306524 | 2248660 | 66538 | 32965 |
|  PIMCO Total Return Fund IV | 1689574 | 1656878 | 41040 | 30546 |
|  PIMCO Total Return Fund V | 927391 | 862384 | 89702 | 18299 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **263** |

---

------

Notes to Financial Statements (Cont.)

13. SHARES OF BENEFICIAL INTEREST

The Trust may issue an unlimited number of shares of beneficial interest with a $0.01 par value. Changes in shares of beneficial interest were as follows (shares and amounts in thousands<sup>†</sup>):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund |
| | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2025 |
| | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount |
|  **Receipts for shares sold** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 1580 | $14300 | 1407 | $12479 | 44008 | $450887 | 77902 | $776895 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 62 | 561 | 10 | 77 | 7779 | 79555 | 4181 | 41475 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 42 | 375 | 110 | 972 | 1078 | 11009 | 2700 | 27027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 923 | 8289 | 164 | 1458 | 1561 | 16007 | 1530 | 15214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 0 | 3 | 0 | 6 | 151 | 1552 | 66 | 658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | 121 | 1233 | 84 | 824 |
|  **Issued as reinvestment of distributions** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 138 | 1248 | 83 | 735 | 11457 | 117138 | 10381 | 103137 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 2 | 20 | 0 | 4 | 624 | 6383 | 532 | 5283 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 5 | 43 | 4 | 32 | 191 | 1951 | 73 | 731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 38 | 342 | 6 | 56 | 575 | 5881 | 582 | 5776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 0 | 2 | 0 | 2 | 23 | 233 | 28 | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | 25 | 252 | 21 | 213 |
|  **Cost of shares redeemed** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | (828) | (7438) | (470) | (4157) | (84214) | (856946) | (56098) | (557614) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | (5) | (47) | (25) | (216) | (5589) | (56912) | (4958) | (49152) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | (58) | (518) | (52) | (460) | (618) | (6270) | (1016) | (10035) |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (227) | (2043) | (43) | (385) | (3211) | (32828) | (3655) | (36299) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (0) | (11) | 0 | 0 | (283) | (2897) | (463) | (4594) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | (114) | (1169) | (85) | (844) |
|  **Net increase (decrease) resulting from Fund<br>share transactions** | 1672 | $15126 | 1194 | $10603 | (26436) | $(264941) | 31805 | $318974 |

---

264 PIMCO BOND FUNDS

------

March 31, 2026

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PIMCO Extended Duration Fund | PIMCO Extended Duration Fund | PIMCO Extended Duration Fund | PIMCO Extended Duration Fund | PIMCO GNMA and Government Securities Fund | PIMCO GNMA and Government Securities Fund | PIMCO GNMA and Government Securities Fund | PIMCO GNMA and Government Securities Fund | PIMCO Investment Grade Credit Bond Fund | PIMCO Investment Grade Credit Bond Fund | PIMCO Investment Grade Credit Bond Fund | PIMCO Investment Grade Credit Bond Fund |
| Year Ended<br>03/31/2026 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2026 | Year Ended<br>03/31/2025 | Year Ended<br>03/31/2025 |
| Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount |
| 17887 | $227589 | 11548 | $159606 | 30379 | $283819 | 20178 | $187843 | 183889 | $1674079 | 183214 | $1649629 |
| 92 | 1185 | 1035 | 14762 | 18271 | 171908 | 26159 | 242649 | 189282 | 1731717 | 236796 | 2130334 |
| N/A | N/A | N/A | N/A | 1034 | 9778 | 2144 | 19944 | 7329 | 66908 | 5906 | 52772 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 396 | 3601 | 713 | 6418 |
| N/A | N/A | N/A | N/A | 3466 | 32776 | 3343 | 31151 | 16230 | 148206 | 15776 | 141682 |
| N/A | N/A | N/A | N/A | 71 | 671 | 78 | 735 | 687 | 6299 | 776 | 6967 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 1174 | 15032 | 762 | 10267 | 2550 | 24157 | 2983 | 27793 | 26278 | 240135 | 25040 | 224781 |
| 39 | 506 | 35 | 470 | 2098 | 19875 | 2223 | 20707 | 8675 | 79262 | 9668 | 86769 |
| N/A | N/A | N/A | N/A | 373 | 3534 | 417 | 3880 | 675 | 6171 | 551 | 4942 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 81 | 743 | 96 | 861 |
| N/A | N/A | N/A | N/A | 584 | 5532 | 761 | 7084 | 2535 | 23157 | 2622 | 23526 |
| N/A | N/A | N/A | N/A | 21 | 200 | 36 | 331 | 199 | 1814 | 254 | 2280 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (12874) | (166763) | (19632) | (269675) | (32970) | (308749) | (24734) | (229486) | (175028) | (1589811) | (223390) | (2004298) |
| (303) | (3750) | (1698) | (23664) | (14103) | (133295) | (38856) | (359211) | (151969) | (1385276) | (193162) | (1734176) |
| N/A | N/A | N/A | N/A | (2974) | (28261) | (2215) | (20570) | (4995) | (45352) | (5237) | (46937) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | (861) | (7833) | (1364) | (12230) |
| N/A | N/A | N/A | N/A | (6138) | (57898) | (7507) | (70183) | (24056) | (219404) | (27598) | (247241) |
| N/A | N/A | N/A | N/A | (276) | (2595) | (508) | (4728) | (3115) | (28431) | (3762) | (33697) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 6015 | $73799 | (7950) | $(108234) | 2386 | $21452 | (15498) | $(142061) | 76232 | $705985 | 26899 | $252382 |

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ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 265

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **PIMCO Long Duration Total Return Fund** | **PIMCO Long Duration Total Return Fund** | **PIMCO Long Duration Total Return Fund** | **PIMCO Long Duration Total Return Fund** | **PIMCO Long-Term U.S. Government Fund** | **PIMCO Long-Term U.S. Government Fund** | **PIMCO Long-Term U.S. Government Fund** | **PIMCO Long-Term U.S. Government Fund** |
| | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
|  **Receipts for shares sold** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 90153 | $650433 | 115459 | $853501 | 20792 | $290022 | 16622 | $239014 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 3481 | 24954 | 9943 | 71864 | 2799 | 39191 | 6068 | 86313 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 1737 | 12467 | 4496 | 32425 | 667 | 9302 | 1281 | 18241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 137 | 983 | 438 | 3253 | 424 | 5975 | 928 | 13353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Issued as reinvestment of distributions** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 12892 | 92825 | 12068 | 86795 | 1718 | 24076 | 1725 | 24508 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 585 | 4211 | 639 | 4599 | 227 | 3178 | 296 | 4207 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 248 | 1787 | 139 | 1003 | 94 | 1318 | 87 | 1240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 42 | 301 | 37 | 265 | 59 | 822 | 40 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Cost of shares redeemed** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | (98391) | (711443) | (179500) | (1296911) | (27739) | (389585) | (28455) | (407030) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | (8664) | (62349) | (13731) | (98529) | (3459) | (48298) | (12162) | (172937) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (1803) | (12912) | (3298) | (23577) | (966) | (13493) | (1631) | (23298) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (399) | (2860) | (481) | (3455) | (271) | (3798) | (382) | (5383) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Net increase (decrease) resulting from Fund<br>share transactions** | 18 | $(1603) | (53791) | $(368767) | (5655) | $(81290) | (15583) | $(221203) |

---

266 PIMCO BOND FUNDS

------

March 31, 2026

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO Low Duration Opportunities Fund** | **PIMCO Low Duration Opportunities Fund** | **PIMCO Low Duration Opportunities Fund** | **PIMCO Low Duration Opportunities Fund** | **PIMCO Moderate Duration Fund** | **PIMCO Moderate Duration Fund** | **PIMCO Moderate Duration Fund** | **PIMCO Moderate Duration Fund** | **PIMCO Mortgage Opportunities and Bond Fund** | **PIMCO Mortgage Opportunities and Bond Fund** | **PIMCO Mortgage Opportunities and Bond Fund** | **PIMCO Mortgage Opportunities and Bond Fund** |
| **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** |
| **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| 917 | $9952 | 434 | $4582 | 25643 | $242006 | 39060 | $360360 | 334427 | $3137087 | 331373 | $3093912 |
| 2104 | 22819 | 3873 | 40577 | 935 | 8830 | 1228 | 11297 | 176473 | 1655780 | 160054 | 1492964 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5500 | 51541 | 3749 | 34881 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 318 | 3439 | 145 | 1529 | N/A | N/A | N/A | N/A | 8675 | 81208 | 15751 | 147256 |
| 47 | 507 | 20 | 217 | N/A | N/A | N/A | N/A | 1385 | 12977 | 3033 | 28314 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 113 | 1222 | 110 | 1160 | 6671 | 63024 | 6318 | 58245 | 51816 | 486214 | 54604 | 508847 |
| 240 | 2589 | 206 | 2175 | 75 | 706 | 37 | 338 | 16614 | 155917 | 17517 | 163240 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 521 | 4888 | 611 | 5690 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 43 | 464 | 42 | 445 | N/A | N/A | N/A | N/A | 1363 | 12790 | 1488 | 13869 |
| 3 | 36 | 4 | 37 | N/A | N/A | N/A | N/A | 230 | 2162 | 240 | 2237 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (638) | (6898) | (1460) | (15293) | (22946) | (216029) | (21147) | (195128) | (259355) | (2433241) | (171980) | (1602383) |
| (1542) | (16508) | (1691) | (17813) | (582) | (5492) | (203) | (1867) | (110095) | (1031178) | (139547) | (1297696) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | (3946) | (37086) | (4073) | (37915) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (302) | (3253) | (392) | (4124) | N/A | N/A | N/A | N/A | (14012) | (131726) | (8290) | (77029) |
| (50) | (539) | (32) | (340) | N/A | N/A | N/A | N/A | (1436) | (13460) | (1093) | (10171) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 1253 | $13830 | 1259 | $13152 | 9796 | $93045 | 25293 | $233245 | 208160 | $1953873 | 263437 | $2466016 |

---

ANNUAL FINANCIAL AND OTHER INFORMATION \| MARCH 31, 2026 267

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **PIMCO Total Return ESG Fund** | **PIMCO Total Return ESG Fund** | **PIMCO Total Return ESG Fund** | **PIMCO Total Return ESG Fund** | **PIMCO Total Return Fund II** | **PIMCO Total Return Fund II** | **PIMCO Total Return Fund II** | **PIMCO Total Return Fund II** |
| | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
|  **Receipts for shares sold** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 38175 | $298208 | 42183 | $322572 | 7657 | $64159 | 12456 | $102952 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 9029 | 70320 | 9031 | 68953 | 3876 | 32821 | 1021 | 8373 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 214 | 1676 | 512 | 3931 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | 592 | 4631 | 722 | 5540 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 631 | 4888 | 805 | 6159 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 25 | 200 | 23 | 171 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Issued as reinvestment of distributions** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | 6327 | 49395 | 6887 | 52618 | 2533 | 21339 | 2316 | 19058 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | 1217 | 9506 | 1185 | 9061 | 85 | 718 | 87 | 708 |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | 39 | 305 | 35 | 264 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | 82 | 641 | 79 | 605 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | 52 | 407 | 41 | 316 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | 2 | 18 | 2 | 18 | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Cost of shares redeemed** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | (40809) | (317952) | (88710) | (680815) | (10436) | (87800) | (19784) | (162621) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-2 | (8632) | (67302) | (9529) | (72797) | (1583) | (13221) | (4558) | (38064) |
| &nbsp;&nbsp;&nbsp;&nbsp; I-3 | (364) | (2799) | (231) | (1757) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative Class | (543) | (4246) | (747) | (5699) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (271) | (2113) | (1269) | (9640) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (33) | (255) | (28) | (209) | N/A | N/A | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
|  **Net increase (decrease) resulting from Fund<br>share transactions** | 5733 | $45528 | (39009) | $(300709) | 2132 | $18016 | (8462) | $(69594) |

---

268 PIMCO BOND FUNDS

------

March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PIMCO Total Return Fund IV** | **PIMCO Total Return Fund IV** | **PIMCO Total Return Fund IV** | **PIMCO Total Return Fund IV** | **PIMCO Total Return Fund V** | **PIMCO Total Return Fund V** | **PIMCO Total Return Fund V** | **PIMCO Total Return Fund V** |
| **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2026** | **Year Ended<br>03/31/2025** | **Year Ended<br>03/31/2025** |
| **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| 8734 | $83687 | 9298 | $87549 | 14825 | $145104 | 10384 | $101039 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 558 | 5352 | 597 | 5632 | 139 <sup>(a)</sup> | 1364 <sup>(a)</sup> | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 1356 | 13003 | 1261 | 11879 | 1617 | 15851 | 1032 | 10025 |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 64 | 618 | 49 | 466 | 0 <sup>(a)</sup> | 5 <sup>(a)</sup> | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (7156) | (68314) | (6399) | (60298) | (4843) | (47464) | (949) | (9223) |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (259) | (2490) | (319) | (3005) | (15)<sup>(a)</sup> | (149)<sup>(a)</sup> | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 3297 | $31856 | 4487 | $42223 | 11723 | $114711 | 10467 | $101841 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

<sup>(a)</sup> Inception date of the class was October 31, 2025.

The following table discloses the number of persons who owned of record or beneficially 10% or more of the outstanding shares of a Fund along with their respective percent ownership, if any, as of March 31, 2026. Some of these shareholders may be considered related parties, which may include, but are not limited to, the investment adviser and its affiliates, affiliated broker dealers, fund of funds and directors or employees of the Trust or Adviser.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Shareholders that own 10% or more of**<br> **outstanding shares** | **Shareholders that own 10% or more of**<br> **outstanding shares** | **Total percentage of portfolio held by**<br> **shareholders that own 10% or more**<br> **of outstanding shares** | **Total percentage of portfolio held by**<br> **shareholders that own 10% or more**<br> **of outstanding shares** |
| Fund Name | Non-Related Parties | Related Parties | Non-Related Parties | Related Parties |
|  PIMCO Climate Bond Fund | 5 | 0 | 74% | 0% |
|  PIMCO Dynamic Bond Fund | 3 | 0 | 58% | 0% |
|  PIMCO Extended Duration Fund | 1 | 1 | 31% | 30% |
|  PIMCO GNMA and Government Securities Fund | 3 | 0 | 53% | 0% |
|  PIMCO Investment Grade Credit Bond Fund | 2 | 0 | 54% | 0% |
|  PIMCO Long Duration Total Return Fund | 2 | 0 | 40% | 0% |
|  PIMCO Long-Term U.S. Government Fund | 0 | 1 | 0% | 32% |
|  PIMCO Low Duration Opportunities Fund | 3 | 0 | 60% | 0% |
|  PIMCO Moderate Duration Fund | 2 | 0 | 48% | 0% |
|  PIMCO Mortgage Opportunities and Bond Fund | 2 | 0 | 52% | 0% |
|  PIMCO Total Return ESG Fund | 3 | 0 | 47% | 0% |
|  PIMCO Total Return Fund II | 3 | 0 | 58% | 0% |
|  PIMCO Total Return Fund IV | 1 | 0 | 81% | 0% |
|  PIMCO Total Return Fund V | 4 | 0 | 79% | 0% |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **269** |

---

------

Notes to Financial Statements (Cont.)

14. REGULATORY AND LITIGATION MATTERS

The Funds are not named as defendants in any material litigation or arbitration proceedings and are not aware of any material litigation or claim pending or threatened against them.

The foregoing speaks only as of the date of this report.

15. 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 March 31, 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.

In this reporting period, the Funds adopted FASB Accounting Standards Update 2023-09, Income Taxes (Topic 740) — Improvements to Income Tax Disclosures (ASU 2023-09), which enhances income tax disclosures, including disclosure income taxes paid disaggregated by jurisdiction. Adoption of the new standard impacted financial statement disclosures only and did not affect any Funds financial position or the results of its operations. For the annual period covered by this report, the funds did not pay any material federal, state or local income taxes or any material income taxes in foreign jurisdictions.

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.

As of March 31, 2026, the components of distributable taxable earnings are as follows (amounts in thousands<sup>†</sup>):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Undistributed<br>Ordinary<br>Income<sup>(1)</sup> | Undistributed<br>Long-Term<br>Capital Gains | Net Tax Basis<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</sup> | Other<br>Book-to-Tax<br>Accounting<br>Differences<sup>(3)</sup> | Accumulated<br>Capital<br>Losses<sup>(4)</sup> | Qualified<br>Late-Year<br>Loss<br>Deferral -<br>Capital<sup>(5)</sup> | Qualified<br>Late-Year<br>Loss<br>Deferral -<br>Ordinary<sup>(6)</sup> | Total<br>Components<br>of<br>Distributable<br>Earnings |
|  PIMCO Climate Bond Fund | $0 | $0 | $(759) | $(2) | $(1114) | $0 | $(288) | $(2163) |
|  PIMCO Dynamic Bond Fund | 59374 | 0 | (178442) | (922) | (518020) | 0 | 0 | (638010) |
|  PIMCO Extended Duration Fund | 3181 | 0 | (370583) | 0 | (90226) | 0 | 0 | (457628) |
|  PIMCO GNMA and Government Securities Fund | 2106 | 0 | (71958) | (367) | (157866) | 0 | 0 | (228085) |
|  PIMCO Investment Grade Credit Bond Fund | 31866 | 0 | (718567) | (22871) | (1699151) | 0 | 0 | (2408723) |
|  PIMCO Long Duration Total Return Fund | 16759 | 0 | (396729) | (323) | (831495) | 0 | 0 | (1211788) |
|  PIMCO Long-Term U.S. Government Fund | 7865 | 0 | (163762) | (85) | (395032) | 0 | 0 | (551014) |
|  PIMCO Low Duration Opportunities Fund | 586 | 0 | (145) | (6) | (5926) | 0 | 0 | (5491) |
|  PIMCO Moderate Duration Fund | 556 | 0 | (15712) | (1095) | (116465) | 0 | 0 | (132716) |
|  PIMCO Mortgage Opportunities and Bond Fund | 9790 | 0 | (665257) | (3948) | (516212) | 0 | 0 | (1175627) |
|  PIMCO Total Return ESG Fund | 1546 | 0 | (119808) | (228) | (299109) | 0 | 0 | (417599) |
|  PIMCO Total Return Fund II | 234 | 0 | (36206) | (104) | (49218) | 0 | 0 | (85294) |
|  PIMCO Total Return Fund IV | 1764 | 0 | (11254) | (10) | (36218) | 0 | 0 | (45718) |
|  PIMCO Total Return Fund V | 0 | 0 | (1760) | (4) | 0 | (412) | 0 | (2176) |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

<sup>(1)</sup> Includes undistributed short-term capital gains, if any.

<sup>(2)</sup> Adjusted for open wash sale loss deferrals and the accelerated recognition of unrealized gain or loss on certain futures, options, and/or forward contracts for federal income tax purposes. Also adjusted for differences between book and tax realized and unrealized gain (loss) on: hyperinflationary investments, swap contracts, straddle loss deferrals, treasury inflation-protected securities (TIPS), sale/buyback transactions, passive foreign investment companies (PFICs), interest accrued on defaulted securities, return of capital distributions from underlying funds, short positions, constructive sales, and partnerships. 

<sup>(3)</sup> Represents differences in income tax regulations and financial accounting principles generally accepted in the United States of America, mainly for organizational expenditures and distributions payable at fiscal year-end.

<sup>(4)</sup> Capital losses available to offset future net capital gains as shown below.

<sup>(5)</sup> Capital losses realized during the period November 1, 2025 through March 31, 2026 which the Funds elected to defer to the following taxable year pursuant to income tax regulations.

<sup>(6)</sup> Specified losses realized during the period November 1, 2025 through March 31, 2026 and Ordinary losses realized during the period January 1, 2026 through March 31, 2026 which the Funds elected to defer to the following taxable year pursuant to income tax regulations.

---

| | |
|:---|:---|
| **270** | **PIMCO BOND FUNDS** |

---

------

March 31, 2026

Under the Regulated Investment Company Modernization Act of 2010, a fund is permitted to carry forward any new capital losses for an unlimited period. Additionally, such capital losses that are carried forward will retain their character as either short-term or long-term capital losses rather than being considered all short-term under previous law.

As of March 31, 2026, the Funds had the following post-effective capital losses with no expiration (amounts in thousands<sup>†</sup>):

---

| | | |
|:---|:---|:---|
|  | Short-Term | Long-Term |
|  PIMCO Climate Bond Fund | $376 | $738 |
|  PIMCO Dynamic Bond Fund | 373979 | 144041 |
|  PIMCO Extended Duration Fund | 9970 | 80256 |
|  PIMCO GNMA and Government Securities Fund | 93290 | 64576 |
|  PIMCO Investment Grade Credit Bond Fund | 832772 | 866379 |
|  PIMCO Long Duration Total Return Fund | 574595 | 256900 |
|  PIMCO Long-Term U.S. Government Fund\* | 139368 | 255664 |
|  PIMCO Low Duration Opportunities Fund | 3712 | 2214 |
|  PIMCO Moderate Duration Fund | 32621 | 83844 |
|  PIMCO Mortgage Opportunities and Bond Fund | 0 | 516212 |
|  PIMCO Total Return ESG Fund | 175617 | 123492 |
|  PIMCO Total Return Fund II | 26796 | 22422 |
|  PIMCO Total Return Fund IV | 9517 | 26701 |
|  PIMCO Total Return Fund V | 0 | 0 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

\* Portion of amount represents realized loss and recognized built-in loss under IRC sections 382-83, which is carried forward to future years to offset future realized gain subject to certain limitations. 

As of March 31, 2026, the aggregate cost and the net unrealized appreciation/(depreciation) of investments for federal income tax purposes are as follows (amounts in thousands<sup>†</sup>):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Federal<br>Tax Cost | Unrealized<br>Appreciation | Unrealized<br>(Depreciation) | Net Unrealized<br>Appreciation/<br>(Depreciation)<sup>(7)</sup> |
|  PIMCO Climate Bond Fund | $43550 | $1758 | $(2519) | $(761) |
|  PIMCO Dynamic Bond Fund | 4452858 | 155266 | (334980) | (179714) |
|  PIMCO Extended Duration Fund | 1542369 | 26118 | (396722) | (370604) |
|  PIMCO GNMA and Government Securities Fund | 2397551 | 39622 | (111580) | (71958) |
|  PIMCO Investment Grade Credit Bond Fund | 16054635 | 253750 | (970759) | (717009) |
|  PIMCO Long Duration Total Return Fund | 4311948 | 95618 | (491017) | (395399) |
|  PIMCO Long-Term U.S. Government Fund | 1657356 | 21989 | (185293) | (163304) |
|  PIMCO Low Duration Opportunities Fund | 163810 | 5667 | (5743) | (76) |
|  PIMCO Moderate Duration Fund | 2151591 | 56612 | (71232) | (14620) |
|  PIMCO Mortgage Opportunities and Bond Fund | 25312915 | 477456 | (1142703) | (665247) |
|  PIMCO Total Return ESG Fund | 2261874 | 46319 | (165173) | (118854) |
|  PIMCO Total Return Fund II | 897410 | 11626 | (47773) | (36147) |
|  PIMCO Total Return Fund IV | 457867 | 7281 | (18520) | (11239) |
|  PIMCO Total Return Fund V | 435300 | 5445 | (7003) | (1558) |

---

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| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

<sup>(7)</sup> Adjusted for open wash sale loss deferrals and the accelerated recognition of unrealized gain or loss on certain futures, options, and/or forward contracts for federal income tax purposes. Also adjusted for differences between book and tax realized and unrealized gain (loss) on: hyperinflationary investments, swap contracts, straddle loss deferrals, treasury inflation-protected securities (TIPS), sale/buyback transactions, passive foreign investment companies (PFICs), interest accrued on defaulted securities, return of capital distributions from underlying funds, short positions, constructive sales, and partnerships. 

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **271** |

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------

Notes to Financial Statements (Cont.) March 31, 2026

For the fiscal years ended March 31, 2026 and March 31, 2025, respectively, the Funds made the following tax basis distributions (amounts in thousands<sup>†</sup>):

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2025 | March 31, 2025 | March 31, 2025 |
|  | Ordinary<br>Income<br>Distributions<sup>(8)</sup> | Long-Term<br>Capital Gain<br>Distributions | Return of<br>Capital<sup>(9)</sup> | Ordinary<br>Income<br>Distributions<sup>(8)</sup> | Long-Term<br>Capital Gain<br>Distributions | Return of<br>Capital<sup>(9)</sup> |
|  PIMCO Climate Bond Fund | $1695 | $0 | $0 | $862 | $0 | $0 |
|  PIMCO Dynamic Bond Fund | 141601 | 0 | 0 | 124821 | 0 | 0 |
|  PIMCO Extended Duration Fund | 15548 | 0 | 0 | 10745 | 0 | 0 |
|  PIMCO GNMA and Government Securities Fund | 58374 | 0 | 0 | 65666 | 0 | 0 |
|  PIMCO Investment Grade Credit Bond Fund | 604774 | 0 | 0 | 538270 | 0 | 0 |
|  PIMCO Long Duration Total Return Fund | 103766 | 0 | 0 | 96932 | 0 | 0 |
|  PIMCO Long-Term U.S. Government Fund | 30302 | 0 | 0 | 31670 | 0 | 0 |
|  PIMCO Low Duration Opportunities Fund | 4388 | 0 | 0 | 3903 | 0 | 0 |
|  PIMCO Moderate Duration Fund | 75947 | 0 | 0 | 70245 | 0 | 0 |
|  PIMCO Mortgage Opportunities and Bond Fund | 706424 | 0 | 0 | 744338 | 0 | 2487 |
|  PIMCO Total Return ESG Fund | 63642 | 0 | 0 | 66409 | 0 | 0 |
|  PIMCO Total Return Fund II | 23291 | 0 | 0 | 21785 | 0 | 0 |
|  PIMCO Total Return Fund IV | 13737 | 0 | 0 | 12503 | 0 | 0 |
|  PIMCO Total Return Fund V | 15888 | 0 | 0 | 10025 | 0 | 0 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

<sup>(8)</sup> Includes short-term capital gains distributed, if any.

<sup>(9)</sup> A portion of the distributions made represents a tax return of capital. Return of capital distributions have been reclassified from undistributed net investment income to paid-in capital to more appropriately conform financial accounting to tax accounting.

16. SUBSEQUENT EVENTS

Class I-2 shares of the Total Return Fund V became operational effective April 30, 2026.

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| | |
|:---|:---|
| **272** | **PIMCO BOND FUNDS** |

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of PIMCO Funds and Shareholders of PIMCO Climate Bond Fund, PIMCO Dynamic Bond Fund, PIMCO Extended Duration Fund, PIMCO GNMA and Government Securities Fund, PIMCO Investment Grade Credit Bond Fund, PIMCO Long Duration Total Return Fund, PIMCO Long-Term U.S. Government Fund, PIMCO Low Duration Opportunities Fund, PIMCO Moderate Duration Fund, PIMCO Mortgage Opportunities and Bond Fund, PIMCO Total Return ESG Fund, PIMCO Total Return Fund II, PIMCO Total Return Fund IV and PIMCO Total Return Fund V

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (fourteen of the funds constituting PIMCO Funds, hereafter collectively referred to as the "Funds") as of March 31, 2026, the related statements of operations, of changes in net assets and, for the funds indicated in the table below, of cash flows, for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of March 31, 2026, the results of each of their operations, the changes in each of their net assets and, for the funds indicated in the table below, each of their cash flows, for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

PIMCO Climate Bond Fund<sup>(1)</sup>

PIMCO Dynamic Bond Fund<sup>(1)</sup>

PIMCO Extended Duration Fund<sup>(2)</sup>

PIMCO GNMA and Government Securities Fund<sup>(1)</sup>

PIMCO Investment Grade Credit Bond Fund<sup>(1)</sup>

PIMCO Long Duration Total Return Fund<sup>(2)</sup>

PIMCO Long-Term U.S. Government Fund<sup>(2)</sup>

PIMCO Low Duration Opportunities Fund<sup>(1)</sup>

PIMCO Moderate Duration Fund<sup>(1)</sup>

PIMCO Mortgage Opportunities and Bond Fund<sup>(1)</sup>

PIMCO Total Return ESG Fund<sup>(2)</sup>

PIMCO Total Return Fund II<sup>(1)</sup>

PIMCO Total Return Fund IV<sup>(1)</sup>

PIMCO Total Return Fund V<sup>(1)</sup>

<sup>(1)</sup> Statement of operations for the year ended March 31, 2026 and statement of changes in net assets for the years ended March 31, 2026 and 2025

<sup>(2)</sup> Statement of operations and statement of cash flows for the year ended March 31, 2026, and statement of changes in net assets for the years ended March 31, 2026 and 2025

#### Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026 by correspondence with the custodian, transfer agent, brokers and agent banks; when replies were not received from brokers or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Kansas City, Missouri

May 27, 2026

We have served as the auditor of one or more investment companies in PIMCO Funds since 1987.

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **273** |

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  Counterparty Abbreviations: | Counterparty Abbreviations: |  |  |  |  |
| AZD | Australia and New Zealand Banking Group | GLM | Goldman Sachs Bank USA | NXN | Natixis New York |
| BCY | Barclays Capital, Inc. | GSC | Goldman Sachs & Co. LLC | PER | Pershing LLC |
| BOA | Bank of America N.A. | GST | Goldman Sachs International | RBC | Royal Bank of Canada |
| BOM | Bank of Montreal | IND | Crédit Agricole Corporate and Investment Bank S.A. | RCY | Royal Bank of Canada |
| BOO | BoA Securities, Inc (Repo Only) | JEF | Jefferies & Co., Inc. | RDR | RBC Capital Markets LLC |
| BOS | BofA Securities, Inc. | JML | JP Morgan Securities Plc | SAL | Citigroup Global Markets, Inc. |
| BPS | BNP Paribas S.A. | JPM | JP Morgan Chase Bank N.A. | SBI | Citigroup Global Markets Ltd. |
| BRC | Barclays Bank PLC | JPS | J.P. Morgan Securities LLC | SCX | Standard Chartered Bank, London |
| BSH | Banco Santander S.A. - New York Branch | MBC | HSBC Bank Plc | SOG | Societe Generale Paris |
| BSN | The Bank of Nova Scotia - Toronto | MEI | Merrill Lynch International | SSB | State Street Bank and Trust Co. |
| BYR | The Bank of Nova Scotia - Toronto | MJR | Merrill Lynch, Pierce, Fenner & Smith, Inc. | STR | State Street FICC Repo |
| CBK | Citibank N.A. | MSC | Morgan Stanley & Co. LLC. | TDM | TD Securities (USA) LLC |
| CIB | Canadian Imperial Bank of Commerce | MTF | Mitsubishi UFJ Financial Group Inc. | UAG | UBS AG Stamford |
| DEU | Deutsche Bank Securities, Inc. | MYC | Morgan Stanley Bank, N.A. | UBS | UBS Securities LLC |
| DUB | Deutsche Bank AG | MYI | Morgan Stanley & Co. International PLC | ULO | UBS AG London |
| FAR | Wells Fargo Bank National Association | NGF | Nomura Global Financial Products, Inc. | WAN | Wells Fargo Bank, N.A.- FICC Rep |
| FICC STR | Fixed Income Clearing Corp. - State Street FICC Repo | NOM | Nomura Securities International, Inc. | WFS | Wells Fargo Securities, LLC |
|  Currency Abbreviations: | Currency Abbreviations: |  |  |  |  |
| AUD | Australian Dollar | GBP | British Pound | NZD | New Zealand Dollar |
| BRL | Brazilian Real | HKD | Hong Kong Dollar | PEN | Peruvian New Sol |
| CAD | Canadian Dollar | IDR | Indonesian Rupiah | PLN | Polish Zloty |
| CHF | Swiss Franc | ILS | Israeli Shekel | RON | Romanian New Leu |
| CLP | Chilean Peso | INR | Indian Rupee | SEK | Swedish Krona |
| CNH | Chinese Renminbi (Offshore) | JPY | Japanese Yen | SGD | Singapore Dollar |
| CNY | Chinese Renminbi (Mainland) | KRW | South Korean Won | THB | Thai Baht |
| COP | Colombian Peso | KWD | Kuwaiti Dinar | TRY | Turkish New Lira |
| CZK | Czech Koruna | KZT | Kazakhstani Tenge | TWD | Taiwanese Dollar |
| DKK | Danish Krone | MXN | Mexican Peso | USD (or $) | United States Dollar |
| DOP | Dominican Peso | NGN | Nigerian Naira | UZS | Uzbekistani Sum |
| EGP | Egyptian Pound | NOK | Norwegian Krone | ZAR | South African Rand |
| EUR | Euro |  |  |  |  |
|  Exchange Abbreviations: | Exchange Abbreviations: |  |  |  |  |
| CBOE | Chicago Board Options Exchange | EUREX | Eurex Exchange | OTC | Over the Counter |
| CME | Chicago Mercantile Exchange |  |  |  |  |
|  Index/Spread Abbreviations: | Index/Spread Abbreviations: |  |  |  |  |
| ABX.HE | Asset-Backed Securities Index - Home Equity | EUR003M | 3 Month EUR Swap Rate | MSMMUSTF | MSILF Money Market US Treasury Fund Index |
| BNMMDTSC | Dreyfus Treasury Securites Cash Management Fund Yield | EUR006M | 6 Month EUR Swap Rate | MUTKCALM | Tokyo Overnight Average Rate |
| Bobl | Bundesobligation, the German word for federal government bond | FHMMUSTF | Federated Hermes US Treasury Cash Reserves Fund Yield | SOFRINDX | Secured Overnight Financing Rate Index |
| BRMMUSDF | BlackRock Money Market US Treasury Fund Index | GSMMUSTF | Goldman Sachs Money Market US Treasury Fund Index | SOFR | Secured Overnight Financing Rate |
| CAONINDX | Bloomberg CORRA Compounded Index | GSMMUSTI | Goldman Sachs Money Market US Treasury Instrument Index | SONIA | Sterling Overnight Interbank Average Rate |
| CAONREPO | Canadian Overnight Repo Rate Average | H15T1Y | 1 Year US Treasury Yield Curve Constant Maturity Rate | SONIO | Sterling Overnight Interbank Average Rate |
| CDX.EM | Credit Derivatives Index - Emerging Markets | HSMMUSTF | HSBC UST Money Market Yield | TSFR1M | Term SOFR 1-Month |
| CDX.HY | Credit Derivatives Index - High Yield | IBR | Indicador Bancario de Referencia | TSFR3M | Term SOFR 3-Month |
| CDX.IG | Credit Derivatives Index - Investment Grade | JMMMUSTF | JP Morgan Money Market US Treasury Fund Index | US0003M | ICE 3-Month USD LIBOR |
| CMBX | Commercial Mortgage-Backed Index |  |  |  |  |
|  Municipal Bond or Agency Abbreviations: | Municipal Bond or Agency Abbreviations: |  |  |  |  |
| ACA | American Capital Access Holding Ltd. | NPFGC | National Public Finance Guarantee Corp. |  |  |
|  Other Abbreviations: | Other Abbreviations: |  |  |  |  |
| ABS | Asset-Backed Security | CLO | Collateralized Loan Obligation | PIK | Payment-in-Kind |
| ALT | Alternate Loan Trust | CMBS | Collateralized Mortgage-Backed Security | PRIBOR | Prague Interbank Offered Rate |
| BABs | Build America Bonds | DAC | Designated Activity Company | REMIC | Real Estate Mortgage Investment Conduit |
| BBR | Bank Bill Rate | EURIBOR | Euro Interbank Offered Rate | TBA | To-Be-Announced |
| BBSW | Bank Bill Swap Reference Rate | JSC | Joint Stock Company | TBD | To-Be-Determined |
| BRL-CDI | Brazil Interbank Deposit Rate | Lunar | Monthly payment based on 28-day periods. One year consists of 13 periods. | TBD% | Interest rate to be determined when loan settles or at the time of funding |
| CBO | Collateralized Bond Obligation | Oat | Obligations Assimilables du Trésor | TIIE | Tasa de Interés Interbancaria de Equilibrio "Equilibrium Interbank Interest Rate" |
| CDO | Collateralized Debt Obligation | OIS | Overnight Index Swap | WIBOR | Warsaw Interbank Offered Rate |

---

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| | |
|:---|:---|
| **274** | **PIMCO BOND FUNDS** |

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Distribution Information (Unaudited)

For purposes of Section 19 of the Investment Company Act of 1940 (the "Act"), the funds estimated the periodic sources of any dividends paid during the period covered by this report in accordance with good accounting practice. Pursuant to Rule 19a-1(e) under the Act, the table below sets forth the actual source information for dividends paid during the six month period ended March 31, 2026 calculated as of each distribution period pursuant to Section 19 of the Act. The information below is not provided for U.S. federal income tax reporting purposes. The tax character of all dividends and distributions is reported on Form 1099-DIV (for shareholders who receive U.S. federal tax reporting) at the end of each calendar year. See the Financial Highlights section of this report for the tax characterization of distributions determined in accordance with federal income tax regulations for the fiscal year.

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| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund | PIMCO Climate Bond Fund |
| Institutional Class | **Net Investment**<br> **Income\*** | **Net Realized**<br> **Capital Gains\*** | **Paid-in Surplus or**<br> **Other Capital**<br> **Sources\*\*** | **Total (per**<br> **common share)** |
|  October 2025 | $0.0280 | $0.0000 | $0.0000 | $0.0280 |
|  November 2025 | $0.0241 | $0.0000 | $0.0000 | $0.0241 |
|  December 2025 | $0.0270 | $0.0000 | $0.0000 | $0.0270 |
|  January 2026 | $0.0237 | $0.0000 | $0.0000 | $0.0237 |
|  February 2026 | $0.0225 | $0.0000 | $0.0000 | $0.0225 |
|  March 2026 | $0.0244 | $0.0000 | $0.0000 | $0.0244 |
| I-2 | Net Investment<br>Income\* | Net Realized<br>Capital Gains\* | Paid-in Surplus or<br>Other Capital<br>Sources\*\* | Total (per<br>common share) |
|  October 2025 | $0.0272 | $0.0000 | $0.0000 | $0.0272 |
|  November 2025 | $0.0234 | $0.0000 | $0.0000 | $0.0234 |
|  December 2025 | $0.0262 | $0.0000 | $0.0000 | $0.0262 |
|  January 2026 | $0.0229 | $0.0000 | $0.0000 | $0.0229 |
|  February 2026 | $0.0218 | $0.0000 | $0.0000 | $0.0218 |
|  March 2026 | $0.0237 | $0.0000 | $0.0000 | $0.0237 |
| I-3 | Net Investment<br>Income\* | Net Realized<br>Capital Gains\* | Paid-in Surplus or<br>Other Capital<br>Sources\*\* | Total (per<br>common share) |
|  October 2025 | $0.0268 | $0.0000 | $0.0000 | $0.0268 |
|  November 2025 | $0.0231 | $0.0000 | $0.0000 | $0.0231 |
|  December 2025 | $0.0258 | $0.0000 | $0.0000 | $0.0258 |
|  January 2026 | $0.0225 | $0.0000 | $0.0000 | $0.0225 |
|  February 2026 | $0.0214 | $0.0000 | $0.0000 | $0.0214 |
|  March 2026 | $0.0233 | $0.0000 | $0.0000 | $0.0233 |
| Class A | Net Investment<br>Income\* | Net Realized<br>Capital Gains\* | Paid-in Surplus or<br>Other Capital<br>Sources\*\* | Total (per<br>common share) |
|  October 2025 | $0.0247 | $0.0000 | $0.0000 | $0.0247 |
|  November 2025 | $0.0213 | $0.0000 | $0.0000 | $0.0213 |
|  December 2025 | $0.0238 | $0.0000 | $0.0000 | $0.0238 |
|  January 2026 | $0.0206 | $0.0000 | $0.0000 | $0.0206 |
|  February 2026 | $0.0197 | $0.0000 | $0.0000 | $0.0197 |
|  March 2026 | $0.0215 | $0.0000 | $0.0000 | $0.0215 |
| Class C | Net Investment<br>Income\* | Net Realized<br>Capital Gains\* | Paid-in Surplus or<br>Other Capital<br>Sources\*\* | Total (per<br>common share) |
|  October 2025 | $0.0185 | $0.0000 | $0.0000 | $0.0185 |
|  November 2025 | $0.0161 | $0.0000 | $0.0000 | $0.0161 |
|  December 2025 | $0.0178 | $0.0000 | $0.0000 | $0.0178 |
|  January 2026 | $0.0149 | $0.0000 | $0.0000 | $0.0149 |
|  February 2026 | $0.0145 | $0.0000 | $0.0000 | $0.0145 |
|  March 2026 | $0.0160 | $0.0000 | $0.0000 | $0.0160 |

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| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **275** |

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Distribution Information (Cont.)

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| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund | PIMCO Dynamic Bond Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0525 | $0.0000 | $0.0000 | $0.0525 |
|  November 2025 | $0.0424 | $0.0000 | $0.0000 | $0.0424 |
|  December 2025 | $0.0491 | $0.0000 | $0.0000 | $0.0491 |
|  January 2026 | $0.0412 | $0.0000 | $0.0000 | $0.0412 |
|  February 2026 | $0.0419 | $0.0000 | $0.0000 | $0.0419 |
|  March 2026 | $0.0474 | $0.0000 | $0.0000 | $0.0474 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0516 | $0.0000 | $0.0000 | $0.0516 |
|  November 2025 | $0.0416 | $0.0000 | $0.0000 | $0.0416 |
|  December 2025 | $0.0482 | $0.0000 | $0.0000 | $0.0482 |
|  January 2026 | $0.0403 | $0.0000 | $0.0000 | $0.0403 |
|  February 2026 | $0.0411 | $0.0000 | $0.0000 | $0.0411 |
|  March 2026 | $0.0465 | $0.0000 | $0.0000 | $0.0465 |
| **I-3** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0511 | $0.0000 | $0.0000 | $0.0511 |
|  November 2025 | $0.0412 | $0.0000 | $0.0000 | $0.0412 |
|  December 2025 | $0.0477 | $0.0000 | $0.0000 | $0.0477 |
|  January 2026 | $0.0399 | $0.0000 | $0.0000 | $0.0399 |
|  February 2026 | $0.0407 | $0.0000 | $0.0000 | $0.0407 |
|  March 2026 | $0.0461 | $0.0000 | $0.0000 | $0.0461 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0488 | $0.0000 | $0.0000 | $0.0488 |
|  November 2025 | $0.0392 | $0.0000 | $0.0000 | $0.0392 |
|  December 2025 | $0.0455 | $0.0000 | $0.0000 | $0.0455 |
|  January 2026 | $0.0377 | $0.0000 | $0.0000 | $0.0377 |
|  February 2026 | $0.0387 | $0.0000 | $0.0000 | $0.0387 |
|  March 2026 | $0.0440 | $0.0000 | $0.0000 | $0.0440 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0418 | $0.0000 | $0.0000 | $0.0418 |
|  November 2025 | $0.0333 | $0.0000 | $0.0000 | $0.0333 |
|  December 2025 | $0.0387 | $0.0000 | $0.0000 | $0.0387 |
|  January 2026 | $0.0311 | $0.0000 | $0.0000 | $0.0311 |
|  February 2026 | $0.0327 | $0.0000 | $0.0000 | $0.0327 |
|  March 2026 | $0.0378 | $0.0000 | $0.0000 | $0.0378 |
| **Class R** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0465 | $0.0000 | $0.0000 | $0.0465 |
|  November 2025 | $0.0373 | $0.0000 | $0.0000 | $0.0373 |
|  December 2025 | $0.0432 | $0.0000 | $0.0000 | $0.0432 |
|  January 2026 | $0.0355 | $0.0000 | $0.0000 | $0.0355 |
|  February 2026 | $0.0367 | $0.0000 | $0.0000 | $0.0367 |
|  March 2026 | $0.0419 | $0.0000 | $0.0000 | $0.0419 |

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| | |
|:---|:---|
| **276** | **PIMCO BOND FUNDS** |

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(Unaudited)

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| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Extended Duration Fund | PIMCO Extended Duration Fund | PIMCO Extended Duration Fund | PIMCO Extended Duration Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0391 | $0.0000 | $0.0000 | $0.0391 |
|  November 2025 | $0.0341 | $0.0000 | $0.0000 | $0.0341 |
|  December 2025 | $0.0425 | $0.0000 | $0.0000 | $0.0425 |
|  January 2026 | $0.0374 | $0.0000 | $0.0000 | $0.0374 |
|  February 2026 | $0.0371 | $0.0000 | $0.0000 | $0.0371 |
|  March 2026 | $0.0456 | $0.0000 | $0.0000 | $0.0456 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0379 | $0.0000 | $0.0000 | $0.0379 |
|  November 2025 | $0.0331 | $0.0000 | $0.0000 | $0.0331 |
|  December 2025 | $0.0414 | $0.0000 | $0.0000 | $0.0414 |
|  January 2026 | $0.0363 | $0.0000 | $0.0000 | $0.0363 |
|  February 2026 | $0.0360 | $0.0000 | $0.0000 | $0.0360 |
|  March 2026 | $0.0445 | $0.0000 | $0.0000 | $0.0445 |
| <br> PIMCO GNMA and Government Securities Fund | <br> PIMCO GNMA and Government Securities Fund | <br> PIMCO GNMA and Government Securities Fund | <br> PIMCO GNMA and Government Securities Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
|  November 2025 | $0.0322 | $0.0000 | $0.0000 | $0.0322 |
|  December 2025 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
|  January 2026 | $0.0340 | $0.0000 | $0.0000 | $0.0340 |
|  February 2026 | $0.0335 | $0.0000 | $0.0000 | $0.0335 |
|  March 2026 | $0.0322 | $0.0000 | $0.0000 | $0.0322 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0366 | $0.0000 | $0.0000 | $0.0366 |
|  November 2025 | $0.0315 | $0.0000 | $0.0000 | $0.0315 |
|  December 2025 | $0.0367 | $0.0000 | $0.0000 | $0.0367 |
|  January 2026 | $0.0332 | $0.0000 | $0.0000 | $0.0332 |
|  February 2026 | $0.0328 | $0.0000 | $0.0000 | $0.0328 |
|  March 2026 | $0.0314 | $0.0000 | $0.0000 | $0.0314 |
| **I-3** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0362 | $0.0000 | $0.0000 | $0.0362 |
|  November 2025 | $0.0311 | $0.0000 | $0.0000 | $0.0311 |
|  December 2025 | $0.0363 | $0.0000 | $0.0000 | $0.0363 |
|  January 2026 | $0.0328 | $0.0000 | $0.0000 | $0.0328 |
|  February 2026 | $0.0324 | $0.0000 | $0.0000 | $0.0324 |
|  March 2026 | $0.0310 | $0.0000 | $0.0000 | $0.0310 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **277** |

---

------

Distribution Information (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0340 | $0.0000 | $0.0000 | $0.0340 |
|  November 2025 | $0.0293 | $0.0000 | $0.0000 | $0.0293 |
|  December 2025 | $0.0342 | $0.0000 | $0.0000 | $0.0342 |
|  January 2026 | $0.0307 | $0.0000 | $0.0000 | $0.0307 |
|  February 2026 | $0.0306 | $0.0000 | $0.0000 | $0.0306 |
|  March 2026 | $0.0291 | $0.0000 | $0.0000 | $0.0291 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0275 | $0.0000 | $0.0000 | $0.0275 |
|  November 2025 | $0.0238 | $0.0000 | $0.0000 | $0.0238 |
|  December 2025 | $0.0279 | $0.0000 | $0.0000 | $0.0279 |
|  January 2026 | $0.0247 | $0.0000 | $0.0000 | $0.0247 |
|  February 2026 | $0.0251 | $0.0000 | $0.0000 | $0.0251 |
|  March 2026 | $0.0232 | $0.0000 | $0.0000 | $0.0232 |
| <br> PIMCO Investment Grade Credit Bond Fund | <br> PIMCO Investment Grade Credit Bond Fund | <br> PIMCO Investment Grade Credit Bond Fund | <br> PIMCO Investment Grade Credit Bond Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0394 | $0.0000 | $0.0002 | $0.0396 |
|  November 2025 | $0.0333 | $0.0000 | $0.0000 | $0.0333 |
|  December 2025 | $0.0387 | $0.0000 | $0.0000 | $0.0387 |
|  January 2026 | $0.0377 | $0.0000 | $0.0000 | $0.0377 |
|  February 2026 | $0.0350 | $0.0000 | $0.0000 | $0.0350 |
|  March 2026 | $0.0377 | $0.0000 | $0.0000 | $0.0377 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0386 | $0.0000 | $0.0002 | $0.0388 |
|  November 2025 | $0.0326 | $0.0000 | $0.0000 | $0.0326 |
|  December 2025 | $0.0379 | $0.0000 | $0.0000 | $0.0379 |
|  January 2026 | $0.0370 | $0.0000 | $0.0000 | $0.0370 |
|  February 2026 | $0.0342 | $0.0000 | $0.0000 | $0.0342 |
|  March 2026 | $0.0369 | $0.0000 | $0.0000 | $0.0369 |
| **I-3** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0382 | $0.0000 | $0.0002 | $0.0384 |
|  November 2025 | $0.0322 | $0.0000 | $0.0000 | $0.0322 |
|  December 2025 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
|  January 2026 | $0.0366 | $0.0000 | $0.0000 | $0.0366 |
|  February 2026 | $0.0339 | $0.0000 | $0.0000 | $0.0339 |
|  March 2026 | $0.0365 | $0.0000 | $0.0000 | $0.0365 |
| **Administrative Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0374 | $0.0000 | $0.0001 | $0.0375 |
|  November 2025 | $0.0315 | $0.0000 | $0.0000 | $0.0315 |
|  December 2025 | $0.0367 | $0.0000 | $0.0000 | $0.0367 |
|  January 2026 | $0.0358 | $0.0000 | $0.0000 | $0.0358 |
|  February 2026 | $0.0332 | $0.0000 | $0.0000 | $0.0332 |
|  March 2026 | $0.0358 | $0.0000 | $0.0000 | $0.0358 |

---

---

| | |
|:---|:---|
| **278** | **PIMCO BOND FUNDS** |

---

------

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0361 | $0.0000 | $0.0001 | $0.0362 |
|  November 2025 | $0.0304 | $0.0000 | $0.0000 | $0.0304 |
|  December 2025 | $0.0355 | $0.0000 | $0.0000 | $0.0355 |
|  January 2026 | $0.0346 | $0.0000 | $0.0000 | $0.0346 |
|  February 2026 | $0.0321 | $0.0000 | $0.0000 | $0.0321 |
|  March 2026 | $0.0347 | $0.0000 | $0.0000 | $0.0347 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0298 | $0.0000 | $0.0001 | $0.0299 |
|  November 2025 | $0.0250 | $0.0000 | $0.0000 | $0.0250 |
|  December 2025 | $0.0294 | $0.0000 | $0.0000 | $0.0294 |
|  January 2026 | $0.0287 | $0.0000 | $0.0000 | $0.0287 |
|  February 2026 | $0.0268 | $0.0000 | $0.0000 | $0.0268 |
|  March 2026 | $0.0291 | $0.0000 | $0.0000 | $0.0291 |
| <br> PIMCO Long Duration Total Return Fund | <br> PIMCO Long Duration Total Return Fund | <br> PIMCO Long Duration Total Return Fund | <br> PIMCO Long Duration Total Return Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0295 | $0.0000 | $0.0000 | $0.0295 |
|  November 2025 | $0.0256 | $0.0000 | $0.0000 | $0.0256 |
|  December 2025 | $0.0294 | $0.0000 | $0.0000 | $0.0294 |
|  January 2026 | $0.0252 | $0.0000 | $0.0000 | $0.0252 |
|  February 2026 | $0.0259 | $0.0000 | $0.0000 | $0.0259 |
|  March 2026 | $0.0292 | $0.0000 | $0.0000 | $0.0292 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0288 | $0.0000 | $0.0000 | $0.0288 |
|  November 2025 | $0.0250 | $0.0000 | $0.0000 | $0.0250 |
|  December 2025 | $0.0288 | $0.0000 | $0.0000 | $0.0288 |
|  January 2026 | $0.0246 | $0.0000 | $0.0000 | $0.0246 |
|  February 2026 | $0.0254 | $0.0000 | $0.0000 | $0.0254 |
|  March 2026 | $0.0286 | $0.0000 | $0.0000 | $0.0286 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0268 | $0.0000 | $0.0000 | $0.0268 |
|  November 2025 | $0.0234 | $0.0000 | $0.0000 | $0.0234 |
|  December 2025 | $0.0269 | $0.0000 | $0.0000 | $0.0269 |
|  January 2026 | $0.0228 | $0.0000 | $0.0000 | $0.0228 |
|  February 2026 | $0.0237 | $0.0000 | $0.0000 | $0.0237 |
|  March 2026 | $0.0268 | $0.0000 | $0.0000 | $0.0268 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0218 | $0.0000 | $0.0000 | $0.0218 |
|  November 2025 | $0.0191 | $0.0000 | $0.0000 | $0.0191 |
|  December 2025 | $0.0221 | $0.0000 | $0.0000 | $0.0221 |
|  January 2026 | $0.0181 | $0.0000 | $0.0000 | $0.0181 |
|  February 2026 | $0.0194 | $0.0000 | $0.0000 | $0.0194 |
|  March 2026 | $0.0223 | $0.0000 | $0.0000 | $0.0223 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **279** |

---

------

Distribution Information (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Long-Term U.S. Government Fund | PIMCO Long-Term U.S. Government Fund | PIMCO Long-Term U.S. Government Fund | PIMCO Long-Term U.S. Government Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0504 | $0.0000 | $0.0000 | $0.0504 |
|  November 2025 | $0.0418 | $0.0000 | $0.0000 | $0.0418 |
|  December 2025 | $0.0494 | $0.0000 | $0.0000 | $0.0494 |
|  January 2026 | $0.0431 | $0.0000 | $0.0000 | $0.0431 |
|  February 2026 | $0.0434 | $0.0000 | $0.0000 | $0.0434 |
|  March 2026 | $0.0509 | $0.0000 | $0.0000 | $0.0509 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0491 | $0.0000 | $0.0000 | $0.0491 |
|  November 2025 | $0.0407 | $0.0000 | $0.0000 | $0.0407 |
|  December 2025 | $0.0481 | $0.0000 | $0.0000 | $0.0481 |
|  January 2026 | $0.0418 | $0.0000 | $0.0000 | $0.0418 |
|  February 2026 | $0.0423 | $0.0000 | $0.0000 | $0.0423 |
|  March 2026 | $0.0497 | $0.0000 | $0.0000 | $0.0497 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0458 | $0.0000 | $0.0000 | $0.0458 |
|  November 2025 | $0.0379 | $0.0000 | $0.0000 | $0.0379 |
|  December 2025 | $0.0450 | $0.0000 | $0.0000 | $0.0450 |
|  January 2026 | $0.0389 | $0.0000 | $0.0000 | $0.0389 |
|  February 2026 | $0.0396 | $0.0000 | $0.0000 | $0.0396 |
|  March 2026 | $0.0469 | $0.0000 | $0.0000 | $0.0469 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0361 | $0.0000 | $0.0000 | $0.0361 |
|  November 2025 | $0.0297 | $0.0000 | $0.0000 | $0.0297 |
|  December 2025 | $0.0358 | $0.0000 | $0.0000 | $0.0358 |
|  January 2026 | $0.0299 | $0.0000 | $0.0000 | $0.0299 |
|  February 2026 | $0.0314 | $0.0000 | $0.0000 | $0.0314 |
|  March 2026 | $0.0383 | $0.0000 | $0.0000 | $0.0383 |
| <br> PIMCO Low Duration Opportunities Fund | <br> PIMCO Low Duration Opportunities Fund | <br> PIMCO Low Duration Opportunities Fund | <br> PIMCO Low Duration Opportunities Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0472 | $0.0000 | $0.0000 | $0.0472 |
|  November 2025 | $0.0391 | $0.0000 | $0.0000 | $0.0391 |
|  December 2025 | $0.0425 | $0.0000 | $0.0000 | $0.0425 |
|  January 2026 | $0.0364 | $0.0000 | $0.0000 | $0.0364 |
|  February 2026 | $0.0371 | $0.0000 | $0.0000 | $0.0371 |
|  March 2026 | $0.0411 | $0.0000 | $0.0000 | $0.0411 |

---

---

| | |
|:---|:---|
| **280** | **PIMCO BOND FUNDS** |

---

------

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0462 | $0.0000 | $0.0000 | $0.0462 |
|  November 2025 | $0.0382 | $0.0000 | $0.0000 | $0.0382 |
|  December 2025 | $0.0415 | $0.0000 | $0.0000 | $0.0415 |
|  January 2026 | $0.0355 | $0.0000 | $0.0000 | $0.0355 |
|  February 2026 | $0.0362 | $0.0000 | $0.0000 | $0.0362 |
|  March 2026 | $0.0402 | $0.0000 | $0.0000 | $0.0402 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0433 | $0.0000 | $0.0000 | $0.0433 |
|  November 2025 | $0.0357 | $0.0000 | $0.0000 | $0.0357 |
|  December 2025 | $0.0387 | $0.0000 | $0.0000 | $0.0387 |
|  January 2026 | $0.0327 | $0.0000 | $0.0000 | $0.0327 |
|  February 2026 | $0.0337 | $0.0000 | $0.0000 | $0.0337 |
|  March 2026 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0359 | $0.0000 | $0.0000 | $0.0359 |
|  November 2025 | $0.0295 | $0.0000 | $0.0000 | $0.0295 |
|  December 2025 | $0.0315 | $0.0000 | $0.0000 | $0.0315 |
|  January 2026 | $0.0257 | $0.0000 | $0.0000 | $0.0257 |
|  February 2026 | $0.0274 | $0.0000 | $0.0000 | $0.0274 |
|  March 2026 | $0.0309 | $0.0000 | $0.0000 | $0.0309 |
| <br> PIMCO Moderate Duration Fund | <br> PIMCO Moderate Duration Fund | <br> PIMCO Moderate Duration Fund | <br> PIMCO Moderate Duration Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0382 | $0.0000 | $0.0000 | $0.0382 |
|  November 2025 | $0.0318 | $0.0000 | $0.0000 | $0.0318 |
|  December 2025 | $0.0389 | $0.0000 | $0.0000 | $0.0389 |
|  January 2026 | $0.0295 | $0.0000 | $0.0000 | $0.0295 |
|  February 2026 | $0.0316 | $0.0000 | $0.0000 | $0.0316 |
|  March 2026 | $0.0349 | $0.0000 | $0.0000 | $0.0349 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0374 | $0.0000 | $0.0000 | $0.0374 |
|  November 2025 | $0.0310 | $0.0000 | $0.0000 | $0.0310 |
|  December 2025 | $0.0380 | $0.0000 | $0.0000 | $0.0380 |
|  January 2026 | $0.0287 | $0.0000 | $0.0000 | $0.0287 |
|  February 2026 | $0.0309 | $0.0000 | $0.0000 | $0.0309 |
|  March 2026 | $0.0342 | $0.0000 | $0.0000 | $0.0342 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **281** |

---

------

Distribution Information (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Mortgage Opportunities and Bond Fund | PIMCO Mortgage Opportunities and Bond Fund | PIMCO Mortgage Opportunities and Bond Fund | PIMCO Mortgage Opportunities and Bond Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0475 | $0.0000 | $0.0000 | $0.0475 |
|  November 2025 | $0.0403 | $0.0000 | $0.0000 | $0.0403 |
|  December 2025 | $0.0448 | $0.0000 | $0.0000 | $0.0448 |
|  January 2026 | $0.0428 | $0.0000 | $0.0000 | $0.0428 |
|  February 2026 | $0.0386 | $0.0000 | $0.0000 | $0.0386 |
|  March 2026 | $0.0417 | $0.0000 | $0.0000 | $0.0417 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0465 | $0.0000 | $0.0000 | $0.0465 |
|  November 2025 | $0.0398 | $0.0000 | $0.0000 | $0.0398 |
|  December 2025 | $0.0439 | $0.0000 | $0.0000 | $0.0439 |
|  January 2026 | $0.0422 | $0.0000 | $0.0000 | $0.0422 |
|  February 2026 | $0.0381 | $0.0000 | $0.0000 | $0.0381 |
|  March 2026 | $0.0411 | $0.0000 | $0.0000 | $0.0411 |
| **I-3** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0462 | $0.0000 | $0.0000 | $0.0462 |
|  November 2025 | $0.0395 | $0.0000 | $0.0000 | $0.0395 |
|  December 2025 | $0.0435 | $0.0000 | $0.0000 | $0.0435 |
|  January 2026 | $0.0415 | $0.0000 | $0.0000 | $0.0415 |
|  February 2026 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
|  March 2026 | $0.0405 | $0.0000 | $0.0000 | $0.0405 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0442 | $0.0000 | $0.0000 | $0.0442 |
|  November 2025 | $0.0375 | $0.0000 | $0.0000 | $0.0375 |
|  December 2025 | $0.0416 | $0.0000 | $0.0000 | $0.0416 |
|  January 2026 | $0.0397 | $0.0000 | $0.0000 | $0.0397 |
|  February 2026 | $0.0358 | $0.0000 | $0.0000 | $0.0358 |
|  March 2026 | $0.0387 | $0.0000 | $0.0000 | $0.0387 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0376 | $0.0000 | $0.0000 | $0.0376 |
|  November 2025 | $0.0322 | $0.0000 | $0.0000 | $0.0322 |
|  December 2025 | $0.0352 | $0.0000 | $0.0000 | $0.0352 |
|  January 2026 | $0.0338 | $0.0000 | $0.0000 | $0.0338 |
|  February 2026 | $0.0302 | $0.0000 | $0.0000 | $0.0302 |
|  March 2026 | $0.0327 | $0.0000 | $0.0000 | $0.0327 |

---

---

| | |
|:---|:---|
| **282** | **PIMCO BOND FUNDS** |

---

------

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Total Return ESG Fund | PIMCO Total Return ESG Fund | PIMCO Total Return ESG Fund | PIMCO Total Return ESG Fund |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0273 | $0.0000 | $0.0000 | $0.0273 |
|  November 2025 | $0.0238 | $0.0000 | $0.0000 | $0.0238 |
|  December 2025 | $0.0266 | $0.0000 | $0.0000 | $0.0266 |
|  January 2026 | $0.0234 | $0.0000 | $0.0000 | $0.0234 |
|  February 2026 | $0.0245 | $0.0000 | $0.0000 | $0.0245 |
|  March 2026 | $0.0253 | $0.0000 | $0.0000 | $0.0253 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0265 | $0.0000 | $0.0000 | $0.0265 |
|  November 2025 | $0.0232 | $0.0000 | $0.0000 | $0.0232 |
|  December 2025 | $0.0260 | $0.0000 | $0.0000 | $0.0260 |
|  January 2026 | $0.0228 | $0.0000 | $0.0000 | $0.0228 |
|  February 2026 | $0.0239 | $0.0000 | $0.0000 | $0.0239 |
|  March 2026 | $0.0247 | $0.0000 | $0.0000 | $0.0247 |
| **I-3** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0262 | $0.0000 | $0.0000 | $0.0262 |
|  November 2025 | $0.0229 | $0.0000 | $0.0000 | $0.0229 |
|  December 2025 | $0.0256 | $0.0000 | $0.0000 | $0.0256 |
|  January 2026 | $0.0224 | $0.0000 | $0.0000 | $0.0224 |
|  February 2026 | $0.0236 | $0.0000 | $0.0000 | $0.0236 |
|  March 2026 | $0.0243 | $0.0000 | $0.0000 | $0.0243 |
| **Administrative Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0255 | $0.0000 | $0.0000 | $0.0255 |
|  November 2025 | $0.0223 | $0.0000 | $0.0000 | $0.0223 |
|  December 2025 | $0.0249 | $0.0000 | $0.0000 | $0.0249 |
|  January 2026 | $0.0218 | $0.0000 | $0.0000 | $0.0218 |
|  February 2026 | $0.0230 | $0.0000 | $0.0000 | $0.0230 |
|  March 2026 | $0.0237 | $0.0000 | $0.0000 | $0.0237 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0244 | $0.0000 | $0.0000 | $0.0244 |
|  November 2025 | $0.0214 | $0.0000 | $0.0000 | $0.0214 |
|  December 2025 | $0.0239 | $0.0000 | $0.0000 | $0.0239 |
|  January 2026 | $0.0208 | $0.0000 | $0.0000 | $0.0208 |
|  February 2026 | $0.0221 | $0.0000 | $0.0000 | $0.0221 |
|  March 2026 | $0.0227 | $0.0000 | $0.0000 | $0.0227 |
| **Class C** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0191 | $0.0000 | $0.0000 | $0.0191 |
|  November 2025 | $0.0169 | $0.0000 | $0.0000 | $0.0169 |
|  December 2025 | $0.0187 | $0.0000 | $0.0000 | $0.0187 |
|  January 2026 | $0.0157 | $0.0000 | $0.0000 | $0.0157 |
|  February 2026 | $0.0175 | $0.0000 | $0.0000 | $0.0175 |
|  March 2026 | $0.0179 | $0.0000 | $0.0000 | $0.0179 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **283** |

---

------

Distribution Information (Cont.)

---

| | | | | |
|:---|:---|:---|:---|:---|
| PIMCO Total Return Fund II | PIMCO Total Return Fund II | PIMCO Total Return Fund II | PIMCO Total Return Fund II |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0294 | $0.0000 | $0.0000 | $0.0294 |
|  November 2025 | $0.0254 | $0.0000 | $0.0000 | $0.0254 |
|  December 2025 | $0.0296 | $0.0000 | $0.0000 | $0.0296 |
|  January 2026 | $0.0220 | $0.0000 | $0.0000 | $0.0220 |
|  February 2026 | $0.0249 | $0.0000 | $0.0000 | $0.0249 |
|  March 2026 | $0.0274 | $0.0000 | $0.0000 | $0.0274 |
| **I-2** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0286 | $0.0000 | $0.0000 | $0.0286 |
|  November 2025 | $0.0247 | $0.0000 | $0.0000 | $0.0247 |
|  December 2025 | $0.0289 | $0.0000 | $0.0000 | $0.0289 |
|  January 2026 | $0.0212 | $0.0000 | $0.0000 | $0.0212 |
|  February 2026 | $0.0243 | $0.0000 | $0.0000 | $0.0243 |
|  March 2026 | $0.0267 | $0.0000 | $0.0000 | $0.0267 |
| <br> PIMCO Total Return Fund IV | <br> PIMCO Total Return Fund IV | <br> PIMCO Total Return Fund IV | <br> PIMCO Total Return Fund IV |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0348 | $0.0000 | $0.0000 | $0.0348 |
|  November 2025 | $0.0296 | $0.0000 | $0.0000 | $0.0296 |
|  December 2025 | $0.0353 | $0.0000 | $0.0000 | $0.0353 |
|  January 2026 | $0.0301 | $0.0000 | $0.0000 | $0.0301 |
|  February 2026 | $0.0304 | $0.0000 | $0.0000 | $0.0304 |
|  March 2026 | $0.0371 | $0.0000 | $0.0000 | $0.0371 |
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0317 | $0.0000 | $0.0000 | $0.0317 |
|  November 2025 | $0.0270 | $0.0000 | $0.0000 | $0.0270 |
|  December 2025 | $0.0323 | $0.0000 | $0.0000 | $0.0323 |
|  January 2026 | $0.0272 | $0.0000 | $0.0000 | $0.0272 |
|  February 2026 | $0.0278 | $0.0000 | $0.0000 | $0.0278 |
|  March 2026 | $0.0343 | $0.0000 | $0.0000 | $0.0343 |
| <br> PIMCO Total Return Fund V | <br> PIMCO Total Return Fund V | <br> PIMCO Total Return Fund V | <br> PIMCO Total Return Fund V |  |
| **Institutional Class** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0417 | $0.0000 | $0.0000 | $0.0417 |
|  November 2025 | $0.0357 | $0.0000 | $0.0000 | $0.0357 |
|  December 2025 | $0.0390 | $0.0000 | $0.0000 | $0.0390 |
|  January 2026 | $0.0344 | $0.0000 | $0.0000 | $0.0344 |
|  February 2026 | $0.0346 | $0.0000 | $0.0000 | $0.0346 |
|  March 2026 | $0.0365 | $0.0000 | $0.0000 | $0.0365 |

---

---

| | |
|:---|:---|
| **284** | **PIMCO BOND FUNDS** |

---

------

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Class A** | **Net Investment<br>Income\*** | **Net Realized<br>Capital Gains\*** | **Paid-in Surplus or<br>Other Capital<br>Sources\*\*** | **Total (per<br>common share)** |
|  October 2025 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
|  November 2025 | $0.0327 | $0.0000 | $0.0000 | $0.0327 |
|  December 2025 | $0.0355 | $0.0000 | $0.0000 | $0.0355 |
|  January 2026 | $0.0311 | $0.0000 | $0.0000 | $0.0311 |
|  February 2026 | $0.0325 | $0.0000 | $0.0000 | $0.0325 |
|  March 2026 | $0.0333 | $0.0000 | $0.0000 | $0.0333 |

---

\* The source of dividends provided in the table differs, in some respects, from information presented in this report prepared in accordance with generally accepted accounting principles, or U.S. GAAP. For example, net earnings from certain interest rate swap contracts are included as a source of net investment income for purposes of Section 19(a). Accordingly, the information in the table may differ from information in the accompanying financial statements that are presented on the basis of U.S. GAAP and may differ from tax information presented in the footnotes. Amounts shown may include accumulated, as well as fiscal period net income and net profits. 

\*\* Occurs when a funds distributes an amount greater than its accumulated net income and net profits. Amounts are not reflective of a fund's net income, yield, earnings or investment performance. 

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **285** |

---

------

Federal Income Tax Information (Unaudited)

As required by the Internal Revenue Code ("Code") and Treasury Regulations, if applicable, shareholders must be notified within 60 days of the Funds' fiscal year end regarding the status of qualified dividend income and the dividend received deduction.

Dividend Received Deduction. Corporate shareholders are generally entitled to take the dividend received deduction on the portion of a fund's dividend distribution that qualifies under tax law. The percentage of the following Funds' fiscal 2026 ordinary income dividend that qualifies for the corporate dividend received deduction is set forth below.

Qualified Dividend Income. Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, the following percentage of ordinary dividends paid during the fiscal year ended March 31, 2026 was designated as "qualified dividend income" as defined in the Jobs and Growth Tax Relief Reconciliation Act of 2003 subject to reduced tax rates in 2026.

Qualified Interest Income and Qualified Short-Term Capital Gain (for non-U.S. resident shareholders only). Under the American Jobs Creation Act of 2004, the following amounts of ordinary dividends paid during the fiscal year ended March 31, 2026 are considered to be derived from "qualified interest income," as defined in Section 871(k)(1)(E) of the Code, and therefore are designated as interest-related dividends, as defined in Section 871(k)(1)(C) of the Code. Further, the following amounts of ordinary dividends paid during the fiscal year ended March 31, 2026 are considered to be derived from "qualified short-term capital gain," as defined in Section 871(k)(2)(D) of the Code, and therefore are designated as qualified short-term gain dividends, as defined by Section 871(k)(2)(C) of the Code.

Section 163(j) Interest Dividends. The Funds intend to pass through the maximum amount allowable as Section 163(j) Interest defined in Proposed Treasury Section 1.163(j)-1(b).

Section 199A Dividends. The Funds intend to pass through the maximum amount allowable as Section 199A Dividends defined in Proposed Treasury Section 199A-3(d).

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Dividend<br>Received<br>Deduction % | Qualified<br>Dividend<br>Income % | Qualified<br>Interest<br>Income<br>(000s)<sup>†</sup> | Qualified<br>Short-Term<br>Capital Gains<br>(000s)<sup>†</sup> |
|  PIMCO Climate Bond Fund | 0.00% | 1.38% | $546 | $0 |
|  PIMCO Dynamic Bond Fund | 0.00% | 0.00% | 58081 | 0 |
|  PIMCO Extended Duration Fund | 0.00% | 0.00% | 12853 | 0 |
|  PIMCO GNMA and Government Securities Fund | 0.00% | 0.00% | 49395 | 0 |
|  PIMCO Investment Grade Credit Bond Fund | 0.00% | 7.66% | 366762 | 0 |
|  PIMCO Long Duration Total Return Fund | 0.00% | 0.00% | 70328 | 0 |
|  PIMCO Long-Term U.S. Government Fund | 0.00% | 0.00% | 26787 | 0 |
|  PIMCO Low Duration Opportunities Fund | 0.00% | 1.00% | 1895 | 0 |
|  PIMCO Moderate Duration Fund | 0.00% | 0.00% | 51128 | 0 |
|  PIMCO Mortgage Opportunities and Bond Fund | 0.00% | 0.00% | 629471 | 0 |
|  PIMCO Total Return ESG Fund | 0.00% | 0.00% | 44088 | 0 |
|  PIMCO Total Return Fund II | 0.00% | 0.00% | 19810 | 0 |
|  PIMCO Total Return Fund IV | 0.00% | 3.36% | 9148 | 0 |
|  PIMCO Total Return Fund V | 0.00% | 0.00% | 9015 | 1189 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | A zero balance may reflect actual amounts rounding to less than one thousand.  |

---

Shareholders are advised to consult their own tax advisor with respect to the tax consequences of their investment in the Trust. In January 2027, you will be advised on IRS Form 1099-DIV as to the federal tax status of the dividends and distributions received by you in calendar year 2026.

---

| | |
|:---|:---|
| **286** | **PIMCO BOND FUNDS** |

---

------

Changes in and Disagreements with Accountants for Open-End Management Investment Companies (N-CSR Item 8) (Unaudited)

Not applicable.

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **287** |

---

------

Proxy Disclosures for Open-End Management Investment Companies (N-CSR Item 9) (Unaudited)

Not applicable.

---

| | |
|:---|:---|
| **288** | **PIMCO BOND FUNDS** |

---

------

Approval of Investment Advisory Contract and Other Agreements (N-CSR Item 11) (Unaudited)

Not applicable.

---

| | | | |
|:---|:---|:---|:---|
| **ANNUAL FINANCIAL AND OTHER INFORMATION** | \| | MARCH 31, 2026 | **289** |

---

------

#### General Information
Investment Adviser and Administrator

Pacific Investment Management Company LLC

650 Newport Center Drive

Newport Beach, CA 92660

Distributor

PIMCO Investments LLC

1633 Broadway

New York, NY 10019

Custodian

State Street Bank & Trust Co.

2323 Grand Boulevard, 5th Floor

Kansas City, MO 64108

Transfer Agent

SS&C Global Investor & Distribution Solutions, Inc.

80 Lamberton Road

Windsor, CT 06095

Legal Counsel

Dechert LLP

1900 K Street, N.W.

Washington, D.C. 20006

Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP

1100 Walnut Street, Suite 1300

Kansas City, MO 64106

This report is submitted for the general information of the shareholders of the Funds listed on the Report cover.

------

![LOGO](g102091g75h91.jpg)

PIMSBONDFSTMAR_033126

------

**Item 8.** **Changes In and Disagreements with Accountants for Open-End Management Investment Companies.** <br>

The information required by this Item 8 is included as part of the Financial Statements and Financial Highlights filed under Item 7(a) of this Form N-CSR.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.** <br>

The information required by this Item 9 is included as part of the Financial Statements and Financial Highlights filed under Item 7(a) of this Form N-CSR.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** <br>

------

The information required by this Item 10 is included as part of the Financial Statements and Financial Highlights filed under Item 7(a) of this Form N-CSR.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.** <br>

The information required by this Item 11 is included as part of the Financial Statements and Financial Highlights filed under Item 7(a) of this Form N-CSR.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures For Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** <br>

Not applicable to open-end investment companies.

**Item 15.** **Submission of Matters to a Vote of Security Holders.** <br>

There have been no material changes to the procedures by which shareholders may recommend nominees to the Trust's Board of Trustees since the Trust last provided disclosure in response to this item.

**Item 16.** **Controls and Procedures.** <br>

(a) The principal executive officer and principal financial & accounting officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act) provide reasonable assurances that material information relating to the Registrant is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities For Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

**Item 18.** **Recovery of Erroneously Awarded Compensation.** <br>

(a) Not applicable.

(b) Not applicable.

**Item 19.** **Exhibits.** <br>

(a)(1) [Exhibit 99.CODE—Code of Ethics pursuant to Section 406 of the Sarbanes-Oxley Act of 2002.](d112232dex99codeeth.htm)

(a)(2) Not applicable for open-end investment companies.

(a)(3) [Exhibit 99.CERT—Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](d112232dex99cert.htm)

(a)(4) Not applicable to the Registrant.

(a)(5) There was no change in the Registrant's independent public accountant for the period covered by the report.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Exhibit 99.906CERT—Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](d112232dex99906cert.htm)

------

#### Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  PIMCO Funds | PIMCO Funds |
|  By: | /s/ Joshua D. Ratner  |
|  | Joshua D. Ratner |
|  | President (Principal Executive Officer) |
|  Date: | June 1, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  By: | /s/ Joshua D. Ratner  |
|  | Joshua D. Ratner |
|  | President (Principal Executive Officer) |
|  Date: | June 1, 2026 |

---

---

| | |
|:---|:---|
|  By: | /s/ Bijal Y. Parikh  |
|  | Bijal Y. Parikh |
|  | Treasurer (Principal Financial & Accounting Officer) |
|  Date: | June 1, 2026 |

---

## Ex-99.Code

**<u>Code of Ethics Pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 for Principal</u>** 

**<u>Executive and Senior Financial Officers</u>** 

**PIMCO Funds** 

**PIMCO Variable Insurance Trust ("PVIT")** 

**PIMCO ETF Trust ("ETF")** 

**PIMCO Equity Series ("PES")** 

**PIMCO Equity Series VIT ("PESVIT")** 

**PIMCO Managed Accounts Trust** 

**PIMCO Sponsored Closed-End Funds** 

**PIMCO Sponsored Interval Funds** 

**PIMCO Capital Solutions BDC Corp.<sup>1</sup>** 

**I. Covered Officers/Purpose of the Code** 

This Code of Ethics (this "Code") pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 has been adopted by the Funds and, except as provided in Section VI below, applies to each Fund's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer (the "Covered Persons"). Each Covered Person is identified in <u>Exhibit A</u>.)

This Code has been adopted for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between
personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• full, fair, accurate, timely and understandable disclosure in reports and documents that a Fund files with, or
submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by a Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the
Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accountability for adherence to the Code.

Each Covered Person should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to conflicts of interest or the appearance thereof.

<sup>1</sup> The listed entities which are open-end investment companies are known as the "Trusts," the listed entities which are publicly-traded closed-end investment companies are known as the "Closed-End Funds," the listed entities which are closed-end investment companies operating as "interval" funds pursuant to Rule 23c-3 under the 1940 Act are known as the "Interval Funds", and the listed entities which are business development companies are known as the "BDCs." The Trusts' respective series, the Closed-End Funds, the Interval Funds and the BDC are referred to herein as the "Funds." References to "Trustees" include Directors, as applicable.

------

Sarbanes-Oxley Code of Ethics

**II. Covered Persons Should Handle Ethically Any Actual or Apparent Conflicts of Interest** 

**Overview**. A "conflict of interest" occurs when a Covered Person's private interest interferes with the interests of, or his service to, the relevant Fund. For example, a conflict of interest would arise if a Covered Person, or a member of the Covered Person's family, receives improper personal benefits as a result of the Covered Person's position with the relevant Fund.

Certain conflicts of interest arise out of the relationships between Covered Persons and the relevant Fund and already are subject to conflict of interest provisions and procedures in the Investment Company Act of 1940, as amended (including the regulations thereunder, the "1940 Act") and the Investment Advisers Act of 1940, as amended (including the regulations thereunder, the "Investment Advisers Act") and other applicable laws. Indeed, conflicts of interest are endemic for registered management investment companies and those conflicts are both substantially and procedurally dealt with under the 1940 Act. For example, Covered Persons may not engage in certain transactions with a Fund because of their status as "affiliated persons" of such Fund. The compliance program of each Fund and the compliance programs of its investment adviser, principal underwriter (with respect to the Trusts) and administrator (each a "PIMCO-Affiliated Service Provider" and, collectively, the "PIMCO-Affiliated Service Providers"<sup>2</sup>) are reasonably designed to prevent, or identify and correct, violations of many of those provisions, although they are not designed to provide absolute assurance as to those matters. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code. *See also* Section V of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between a Fund and its applicable PIMCO-Affiliated Service Providers of which the Covered Persons are also officers or employees. As a result, this Code recognizes that the Covered Persons will, in the normal course of their duties (whether for the Funds or for a PIMCO-Affiliated Service Provider, or for both), be involved in establishing policies and implementing decisions that will have different effects on the PIMCO-Affiliated Service Providers and the Funds. The participation of the Covered Persons in such activities is inherent in the contractual relationships between the Funds and their applicable PIMCO-Affiliated Service Providers and is consistent with the performance by the Covered Persons of their duties as officers of the relevant Fund. Thus, if performed in conformity with the provisions of the 1940 Act, the Investment Advisers Act, other applicable law and the relevant Fund's constitutional documents, such activities will be deemed to have been handled ethically. Frequently, the 1940 Act establishes, as a mechanism for dealing with conflicts, requirements that such potential conflicts be disclosed to and approved by the Trustees of a Fund who are not "interested persons" of such Fund under the 1940 Act. In addition, it is recognized by each Fund's Board of Trustees that the Covered Persons may also be officers or employees of one or more other investment companies covered by this or other codes and that such service, by itself, does not give rise to a conflict of interest.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not the subject of provisions of the 1940 Act and the Investment Advisers Act. The following list provides

<sup>2</sup> Each PIMCO-Affiliated Service Provider is identified in <u>Exhibit B.</u>

------

Sarbanes-Oxley Code of Ethics

examples of conflicts of interest under the Code, but Covered Persons should bear in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Person should not be placed improperly before the interest of the relevant Fund, unless the personal interest is disclosed to and reviewed by other officers of such Fund or such Fund's Chief Compliance Officer ("CCO").

\* \* \* \*

Each Covered Person must not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use his personal influence or personal relationships to improperly influence investment decisions or financial
reporting by the relevant Fund whereby the Covered Person would benefit personally to the detriment of such Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause the relevant Fund to take action, or fail to take action, for the individual personal benefit of the
Covered Person rather than the benefit of such Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• retaliate against any other Covered Person or any employee of the Funds or their PIMCO-Affiliated Service
Providers for reports of potential violations that are made in good faith.

There are some conflict of interest situations that should always be submitted for review by the President of the relevant Fund (or, with respect to activities of the President, by the Chairman of the relevant Fund or, if the same person holds the titles of President and Chairman, by the Fund's CCO). These conflict of interest situations are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• service on the board of directors or governing board of a publicly traded entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• knowing acceptance of any investment opportunity or of any material gift or gratuity from any person or entity
that does business, or desires to do business, with the relevant Fund. For these purposes, material gifts do <u>not</u> include (i) gifts from a single giver so long as their aggregate annual value does not exceed the equivalent of $100.00;
(ii) attending business meals, business related conferences, sporting events and other entertainment events at the expense of a giver, so long as the expense is reasonable <sup>3</sup> and both the Covered
Person and the giver are present <sup>4</sup> ; or (iii) gifts or meals/conferences/events received from the Covered Person's employer;

<sup>3</sup> Whether an entertainment expense is "reasonable" will vary depending on the circumstances. For example, under proposed FINRA (NASD) guidance (Proposed IM 3060, SEC Release No. 34-55765, May 15, 2007), generally, a business entertainment event that is so lavish or extensive in nature that an attendee would likely feel compelled to direct business to the sponsor of the event, or a business entertainment event that is intended or designed to cause, or would be reasonably judged to have the likely effect of causing the attendee to act in a manner that is inconsistent with the best interests of a Fund would be unreasonable *per se*.

<sup>4</sup> In the event a Covered Person is a registered representative of the Funds' principal underwriter, the aggregate annual gift value froma single giver shall not exceed $100.00 as required by the rules of FINRA. However, PIMCO

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Sarbanes-Oxley Code of Ethics

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any ownership interest in, or any consulting or employment relationship with, any entities doing business with
the relevant Fund, other than a PIMCO-Affiliated Service Provider or an affiliate of a PIMCO-Affiliated Service Provider.<sup>5</sup> This restriction shall not apply to or otherwise limit the ownership of
publicly traded securities of such entities doing business with the relevant Fund so long as the Covered Person's ownership does not exceed more than 2% of the outstanding securities of the relevant class; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• knowingly have a direct or indirect financial interest in commissions, transaction charges or spreads paid by
the relevant Fund for effecting portfolio transactions or for selling or redeeming shares of a Fund other than an interest arising from the Covered Person's employment. This restriction shall not apply to or otherwise limit the direct or
indirect ownership of publicly traded securities of any such company so long as the Covered Person's ownership does not exceed more than 2% of the particular class of security outstanding.

**III. Disclosure and Compliance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No Covered Person should knowingly misrepresent, or cause others to misrepresent, facts about the relevant
Fund to others, whether within or outside such Fund, including to such Fund's Board of Trustees and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each Covered Person should, to the extent appropriate within his area of responsibility, consult with other
officers and employees of the Funds, applicable PIMCO Affiliated Service Providers, other service providers, or with counsel to the Funds with the goal of promoting full, fair, accurate, timely and understandable disclosure in the registration
statements or periodic reports that the Funds file with, or submit to, the SEC (which, for sake of clarity, does not include any sales literature, omitting prospectuses, or "tombstone" advertising prepared by the relevant Fund's
principal underwriter(s)); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• it is the responsibility of each Covered Person to promote compliance with the standards and restrictions
imposed by applicable laws, rules and regulations.

employees and PIMCO Investments LLC registered representatives are subject to the respective firm's internal policies on accepting gifts and entertainment and must abide by the limitations imposed by such policies.

<sup>5</sup> For purposes of the Code, an "affiliate" of a Service Provider is (a) any natural person or entity directly or indirectly owning, controlling, or holding with power to vote, 5% or more of the outstanding voting securities of the Service Provider; (b) any natural person or entity 5% or more of whose outstanding voting securities are directly or indirectly owned by, controlled, or held with power to vote, by the Service Provider; (c) any person directly or indirectly controlling, controlled by, or under common control with, the Service Provider; or (d) any officer, director, partner, copartner, or employee of the Service Provider.

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Sarbanes-Oxley Code of Ethics

**IV. Reporting and Accountability** 

Each Covered Person must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Person), affirm in writing to
the relevant Fund that he has received, read, and understood the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• annually thereafter affirm to the relevant Fund that he has complied with the requirements of the Code by
completing the Annual Certification of Compliance attached hereto as <u>Exhibit C</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• provide full and fair responses to all questions asked in any Trustee and Officer Questionnaire provided by
the relevant Fund as well as with respect to any supplemental request for information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• notify the President of the relevant Fund promptly if he or she is convinced to a moral certainty that there
has been a material violation of this Code (with respect to violations by a President, the Covered Person shall report to the Chairman of the relevant Fund or, if the same person holds the titles of President and Chairman, to the Fund's CCO).

The President of each Fund is responsible for applying this Code to specific situations in which questions are presented under it and, in consultation with the Fund's CCO, has the authority to interpret this Code in any particular situation. However, any reviews sought by the President will be considered by the Chairman of the relevant Fund or, if the same person holds the titles of President and Chairman, by the Fund's CCO.

The Funds will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the President will take all appropriate action to investigate any potential material violations reported to
him, which actions may include the use of internal or external counsel, accountants or other personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if, after such investigation, the President believes that no material violation has occurred, the President is
not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any matter that the President believes is a material violation will be reported to the applicable Fund's
CCO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the CCO concurs that a material violation has occurred, it will inform and make a recommendation to the
Fund's Board of Trustees, which will consider appropriate action, which may include review of, and appropriate modifications to applicable policies and procedures; notification to appropriate personnel of a PIMCO-Affiliated Service Provider or
its board; or a recommendation to dismiss the Covered Person; and

A Fund's CCO or Board of Trustees may grant waivers under this Code, as each deems appropriate.

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Sarbanes-Oxley Code of Ethics

**V. Public Disclosure of Changes and Waivers** 

Any changes to this Code will, to the extent required by the SEC's rules, be disclosed on the Fund's website or in the Fund's N-CSR. Any waivers under this Code relating to a Covered Person will, to the extent required by the SEC's rules, be disclosed on the Fund's website or in the Fund's N-CSR.

**VI. Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds or the Funds' PIMCO-Affiliated Service Providers govern or purport to govern the behavior or activities of the Covered Persons who are subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. The Funds' and their PIMCO-Affiliated Service Providers' codes of ethics under Rule 17j-1 under the 1940 Act and the PIMCO-Affiliated Service Providers' more detailed compliance policies and procedures are separate requirements applying to the Covered Persons and others, and are not part of this Code.

This Code will not be interpreted or applied in any manner that would violate the legal rights of any Covered Person as an employee under applicable law. For example, nothing in this Code or the Exhibits attached hereto prohibits or in any way restricts any Covered Person from reporting possible violations of law or regulation to, otherwise communicating directly with, cooperating with or providing information to any governmental or regulatory body or any self-regulatory organization or making other disclosures that are protected under applicable law or regulations of the SEC or any other governmental or regulatory body or self-regulatory organization. A Covered Person does not need prior authorization of PIMCO, a Fund or a PIMCO-Affiliated Service Provider before taking any such action and is not required to inform PIMCO, a Fund or a PIMCO-Affiliated Service Provider if he or she chooses to take such action.

**VII. Amendments** 

Any material amendments to this Code must be approved or ratified by a majority vote of the Board of Trustees.

**VIII. Confidentiality** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone except as permitted by the Board of Trustees.

**IX. Internal Use** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

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Sarbanes-Oxley Code of Ethics

**History of Amendments** 

<u>History of adoptions and amendments:</u> 

---

| | |
|:---|:---|
| Adopted: | September 29, 2004 |
| Effective: | October 5, 2004 |
| Amended: | April 1, 2005 |
| Amended: | May 24, 2005 |
| Amended: | February 24, 2009 (added ETF) |
| Amended: | March 31, 2009 |
| Amended: | August 11, 2009 |
| Amended: | March 30, 2010 (added PES and PESVIT) |
| Amended: | March 1, 2011 |
| Amended: | February 27, 2013 |
| Amended: | November 7, 2013 (non-material changes) |
| Amended: | February 26, 2014 (non-material changes) |
| Amended: | August 14, 2014 (added PIMCO Managed Accounts Trust and PIMCO Sponsored Closed-End Funds) |
| Amended: | January 17, 2015 |
| Amended: | December 14, 2016 (added PIMCO Sponsored Interval Funds) |
| Amended: | February 15, 2017 (Open-End Funds Boards); March 23, 2017 (Approved by PIMCO Managed Accounts Trust, PIMO Sponsored Closed-End Funds and PIMCO Sponsored Interval Funds) |
| Amended: | May 28, 2019 (updated Exhibit A for PIMCO Managed Accounts Trust, PIMO Sponsored Closed-End Funds and PIMCO Sponsored Interval Funds) |
| Amended: | June 15, 2019 (updated Exhibit A for OEF/ETF) |
| Amended: | January 1, 2021 (updated PFO/PAO in Exhibit A) |
| Amended: | June 22, 2022 (added Boards of Real Estate/Private Credit Funds) |
| Amended: | February 14, 2024 (Open-End Funds Boards); February 28, 2024 (Boards of Real Estate/Private Credit Funds); March 14, 2024 (PIMCO Managed Accounts Trust and PIMCO Sponsored Interval Funds Boards) (Updated Exhibit A) |

---

------

**Exhibit A** 

<u>Persons Covered by this Code of Ethics</u> 

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; **Trust**<br>| **Principal Executive**<br> **Officer**<br>| **Principal Financial**<br> **Officer**<br>| **Principal Accounting<br>Officer**<br>|
| &nbsp;&nbsp;&nbsp;PIMCO Funds | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PVIT | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;ETF | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PES | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PESVIT | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PIMCO Managed Accounts Trust | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PIMCO Sponsored Closed-End Funds | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PIMCO Sponsored Interval Funds | Joshua D. Ratner | Bijal Parikh | Bijal Parikh |
| &nbsp;&nbsp;&nbsp;PIMCO Sponsored BDCs | John W. Lane | Crystal Porter | Crystal Porter |

---

Note that a listed officer is only a "Covered Person" of the Fund(s) for which he or she serves as a Principal Executive Officer, Principal Financial Officer or Principal Accounting Officer.

------

**Exhibit B** 

<u>PIMCO-Affiliated Service Providers</u>\*

---

| | |
|:---|:---|
| &nbsp;&nbsp; Investment Adviser<br>| Pacific Investment Management Company LLC ("PIMCO")<br>|
| &nbsp;&nbsp; Principal<br> Underwriter\*\* | PIMCO Investments LLC<br>|
| &nbsp;&nbsp; Administrator\*\*\*<br>| PIMCO<br>|

---

\* None of the PIMCO-Affiliated Service Providers are publicly traded companies.

\*\* PIMCO Investments LLC does not serve as the principal underwriter for the Closed-End Funds or the BDC.

\*\*\* Each Fund retains PIMCO to provide administrative services, either under separate administration agreements or under their advisory or management agreements.

------

**Exhibit C** 

ANNUAL CERTIFICATION OF COMPLIANCE

I hereby certify that I have complied with the requirements of the Code of Ethics Pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 for Principal Executive and Senior Financial Officers (the "Code") for the year ended December 31,<u> </u>. I also agree to cooperate fully with any investigation or inquiry as to whether a possible violation of the foregoing Code has occurred.

Date: <br> Signature

## Ex-99.Cert

**Exhibit 99.CERT** 

**<u>Certification Under Rule 30a-2(a)</u>**

**CERTIFICATION** 

I, Joshua D. Ratner, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of PIMCO Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
|  Date: | June 1, 2026 <br>|
|  Signature: | /s/ Joshua D. Ratner <br>|
|  Title: | President (Principal Executive Officer) <br>|

---

------

**Exhibit 99.CERT** 

**<u>Certification Under Rule 30a-2(a)</u>**

**CERTIFICATION** 

I, Bijal Y. Parikh, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of PIMCO Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
|  Date: | June 1, 2026 <br>|
|  Signature: | /s/ Bijal Y. Parikh <br>|
|  Title: | Treasurer (Principal Financial & Accounting Officer) <br>|

---

## Exhibit 99.906

**Exhibit 99.906CERT** 

**<u>Certification Under Rule 30a-2(b)</u>**

**CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350** 

**(as adopted pursuant to Section 906 of the Sarbanes-Oxley Act)** 

In connection with the Report on Form N-CSR to which this certification is furnished as an exhibit (the "Report"), the undersigned officers of PIMCO Funds (the "Registrant") each certify that to his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report on Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report on Form N-CSR fairly presents, in all material respects, the financial
condition and results of operations of the Registrant.

---

| | | | |
|:---|:---|:---|:---|
|  By: | /s/ Joshua D. Ratner<br>| By: | /s/ Bijal Y. Parikh<br>|
|  Name: | Joshua D. Ratner<br>| Name: | Bijal Y. Parikh<br>|
|  Title: | President (Principal Executive Officer)<br>| Title: | Treasurer (Principal Financial & Accounting Officer)<br>|
|  Date: | June 1, 2026<br>| Date: | June 1, 2026<br>|

---

**A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.** 

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report.