# EDGAR Filing Document

**Accession Number:** 0001479360
**File Stem:** 0001099263-25-004562
**Filing Date:** 2025-11
**Character Count:** 1015644
**Document Hash:** 0a9ea59b86c2548421d0520bdddb71ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-004562.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001099263-25-004562

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO Equity Series
- **CENTRAL INDEX KEY:** 0001479360

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22375
- **FILM NUMBER:** 251528585

**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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PIMCO Funds Equity Trust
- **DATE OF NAME CHANGE:** 20091223

## Series and Classes Contracts Data

### PIMCO RAFI ESG U.S. ETF (Series ID: S000066985)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000215599 | PIMCO RAFI ESG U.S. ETF | RAFE            |

## Nport-Ex

<br> Schedule of Investments PIMCO Dividend and Income Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(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 127.7% ¤** |  |  |
| **ASSET-BACKED SECURITIES 15.4%**  |  |  |
| **CAYMAN ISLANDS 3.8%**  |  |  |
| **PFP Ltd.** <br>6.050% due 09/17/2039 •  | $271 | $272 |
| **522 Funding CLO Ltd.** <br>5.519% due 10/23/2034 •  | 400 | 401 |
| **Anchorage Credit Funding 1 Ltd.** <br>3.900% due 07/28/2037 | 413 | 409 |
| **Anchorage Credit Funding 2 Ltd.** <br>3.928% due 04/25/2038 | 400 | 394 |
| **Anchorage Credit Funding 7 Ltd.** <br>4.620% due 04/25/2037 | 362 | 361 |
| **Anchorage Credit Funding 8 Ltd.** <br>4.430% due 07/25/2037 | 400 | 398 |
| **ARES XLIV CLO Ltd.** <br>5.424% due 04/15/2034 •  | 450 | 451 |
| **Atlantic Avenue Ltd.** <br>0.000% due 10/15/2038 •(a) | 500 | 500 |
| **Atlas Senior Loan Fund XV Ltd.** <br>5.539% due 10/23/2032 •  | 303 | 303 |
| **Centerbridge Credit Funding 1 Ltd.** <br>3.164% due 07/25/2039 | 450 | 435 |
| **CIFC Funding Ltd.** <br>5.719% due 07/15/2036 •  | 400 | 401 |
| **Fortress Credit BSL X Ltd.** <br>0.000% due 04/20/2033 •(a) | 500 | 500 |
| **LCM 31 Ltd.** <br>5.605% due 07/20/2034 •  | 400 | 400 |
| **Newark BSL CLO 2 Ltd.** <br>5.550% due 07/25/2030 •  | 134 | 134 |
| **Ocean Trails CLO 8** <br>5.608% due 07/15/2034 •  | 400 | 401 |
| **Romark CLO - IV Ltd.** <br>0.000% due 07/10/2034 •(a) | 500 | 500 |
| **TIAA CLO IV Ltd.** <br>5.465% due 01/20/2032 •  | 246 | 246 |
| **Tralee CLO VI Ltd.** <br>5.538% due 10/25/2032 •  | 260 | 260 |
| **Vibrant CLO XII Ltd.** <br>5.301% due 04/20/2034 •  | 500 | 500 |
| **Voya CLO Ltd.** <br>5.621% due 10/17/2032 •  | 739 | 740 |
| Total Cayman Islands |  | 8006 |
| **IRELAND 0.6%**  |  |  |
| **Arbour CLO VII DAC** <br>3.194% due 12/15/2038 •  | 400 | 470 |
| **Invesco Euro CLO III DAC** <br>3.126% due 10/30/2038 •  | 400 | 470 |
| **Palmer Square European Loan Funding DAC** <br>3.006% due 05/15/2033 •  | 222 | 261 |
| Total Ireland |  | 1201 |
| **ITALY 0.2%**  |  |  |
| **Golden Bar Securitisation SRL** s<br>3.079% due 09/22/2043 • | 279 | 329 |
| Total Italy |  | 329 |
| **JERSEY, CHANNEL ISLANDS 0.2%**  |  |  |
| **37 Capital CLO II Ltd.** <br>5.608% due 07/15/2034 •  | $400 | 401 |
| Total Jersey, Channel Islands |  | 401 |
| **UNITED STATES 10.6%**  |  |  |
| **Santander Bank Auto Credit-Linked Notes** <br>4.965% due 01/18/2033 | 250 | 251 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CarMax** **Select Receivables Trust** <br>4.190% due 03/15/2029 | 500 | 500 |
| **Carvana Auto Receivables Trust**  |  |  |
| 4.070% due 02/12/2029  | 500 | 500 |
| 5.050% due 04/10/2029  | 500 | 503 |
| 5.820% due 08/10/2028  | 259 | 261 |
| 6.160% due 10/10/2028  | 279 | 282 |
| **Chase Auto Owner Trust** <br>5.250% due 09/27/2027 | 111 | 111 |
| **Drive Auto Receivables Trust** <br>4.140% due 09/15/2032 | 500 | 500 |
| **Ent Auto Receivables Trust** <br>6.240% due 01/16/2029 | 323 | 325 |
| **First Investors Auto Owner Trust** <br>6.440% due 10/16/2028 | 103 | 104 |
| **GLS Auto Receivables Issuer Trust** <br>4.760% due 10/15/2027 | 159 | 160 |
| **GLS Auto Select Receivables Trust**  |  |  |
| 6.370% due 06/15/2028  | 96 | 97 |
| 5.590% due 10/15/2029  | 263 | 266 |
| **GM Financial Consumer Automobile Receivables Trust** <br>5.130% due 04/16/2029 | 800 | 811 |
| **Octane Receivables Trust** <br>4.940% due 05/20/2030 | 322 | 323 |
| **Research-Driven Pagaya Motor Asset Trust** <br>7.130% due 01/26/2032 | 311 | 312 |
| **SCCU Auto Receivables Trust** <br>5.110% due 06/15/2029 | 400 | 403 |
| **Westlake Automobile Receivables Trust** <br>4.660% due 09/15/2028 | 450 | 452 |
| **World Omni Select Auto Trust** <br>4.140% due 05/15/2030 | 500 | 500 |
| **Bear Stearns Asset-Backed Securities I Trust** <br>5.383% due 12/25/2034 •  | 687 | 690 |
| **Citigroup Mortgage Loan Trust, Inc.** <br>4.902% due 02/25/2035 •  | 761 | 715 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>4.168% due 01/25/2032 •  | 310 | 305 |
| **EMC Mortgage Loan Trust** <br>5.572% due 02/25/2041 •  | 16 | 16 |
| **FBR Securitization Trust** <br>4.977% due 11/25/2035 •  | 507 | 506 |
| **Home Equity Asset Trust** <br>4.977% due 01/25/2036 •  | 89 | 85 |
| **Morgan Stanley Home Equity Loan Trust** <br>4.372% due 12/25/2036 •  | 1227 | 590 |
| **Option One Mortgage Loan Trust** <br>4.492% due 04/25/2037 •  | 1615 | 1154 |
| **RCKT Mortgage Trust** <br>4.795% due 09/25/2055 «þ | 500 | 499 |
| **Residential Asset Mortgage Products Trust** <br>5.337% due 05/25/2035 •  | 976 | 955 |
| **Residential Asset Securities Corporation Trust** <br>5.157% due 01/25/2034 •  | 33 | 34 |
| **Soundview Home Loan Trust**  |  |  |
| 5.272% due 09/25/2037 •  | 1681 | 1235 |
| 4.677% due 12/25/2036 •  | 628 | 627 |
| **Structured Asset Investment Loan Trust** <br>4.422% due 09/25/2036 •  | 33 | 33 |
| **Affirm Master Trust** <br>4.450% due 10/16/2034 | 490 | 490 |
| **ECMC Group Student Loan Trust** <br>5.621% due 11/25/2069 •  | 588 | 594 |
| **GreenSky Home Improvement Issuer Trust**  |  |  |
| 5.320% due 03/25/2060  | 400 | 409 |
| 5.250% due 10/27/2059  | 111 | 111 |
| **GreenSky Home Improvement Trust** <br>5.880% due 06/25/2059 | 37 | 37 |
| **Lendmark Funding Trust** <br>5.530% due 06/21/2032 | 200 | 203 |
| **Navient Private Education Refi Loan Trust** <br>1.330% due 04/15/2069 | 145 | 134 |
| **Navient Student Loan Trust** <br>5.371% due 08/26/2069 •  | 502 | 503 |
| **Nelnet Student Loan Trust**  |  |  |
| 0.000% due 06/22/2065 •  | 500 | 501 |
| 4.712% due 09/27/2066 •  | 15 | 15 |
| **Pagaya AI Debt Grantor Trust**  |  |  |
| 5.092% due 07/15/2032  | 174 | 175 |
| 5.183% due 06/15/2032  | 156 | 157 |
| **Pagaya AI Debt Selection Trust** <br>6.117% due 12/15/2031 | 137 | 139 |
| **Pagaya AI Debt Trust** <br>5.373% due 01/17/2033 | 400 | 403 |
| **Reach ABS Trust**  |  |  |
| 5.880% due 07/15/2031  | 124 | 124 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 6.300% due 02/18/2031  | 12 | 12 |
| **SLM Private Credit Student Loan Trust** <br>4.629% due 06/15/2039 •  | 482 | 471 |
| **SLM Student Loan Trust** <br>5.271% due 01/25/2075 •  | 576 | 575 |
| **SMB Private Education Loan Trust**  |  |  |
| 5.240% due 03/15/2056  | 410 | 419 |
| 5.822% due 03/15/2056 •  | 492 | 498 |
| 5.822% due 02/16/2055 •  | 457 | 462 |
| 5.474% due 07/15/2053 •  | 686 | 685 |
| 5.060% due 03/16/2054  | 352 | 357 |
| **Tesla Sustainable Energy Trust** <br>5.080% due 06/21/2050 | 348 | 351 |
| **PRET LLC** <br>5.925% due 10/25/2054 þ | 363 | 364 |
| Total United States |  | 22294 |
| Total Asset-Backed Securities (Cost $32,734) |  | 32231 |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 0.5%**  |  |  |
| **FRANCE 0.1%**  |  |  |
| **Altice France SA**<br>9.818% (TSFR3M + 5.500%) due 08/15/2028 «~ | 99 | 96 |
| Total France |  | 96 |
| **JERSEY, CHANNEL ISLANDS 0.1%**  |  |  |
| **Softbank Vision Fund II**<br>TBD% - 7.652% (TSFR3M + 3.650%) due 12/23/2029 «~ | 200 | 200 |
| Total Jersey, Channel Islands |  | 200 |
| **NETHERLANDS 0.0%**  |  |  |
| **Lealand Finance Co. BV**<br>7.278% (TSFR1M + 3.000%) due 06/30/2027 ~ | 1 | 1 |
| **Lealand Finance Co. BV (5.278% Cash)**<br>5.278% due 12/31/2027 ~ | 3 | 2 |
| Total Netherlands |  | 3 |
| **UNITED STATES 0.3%**  |  |  |
| **Envision Healthcare Corp.**  |  |  |
| 12.230% (TSFR3M + 7.875%) due 07/20/2026 «~ | 124 | 124 |
| 12.230% (TSFR3M + 7.875%) due 11/03/2028 «~ | 481 | 495 |
| **Mercury Aggregator LP (19.000% PIK)**<br>19.000% due 04/03/2026 «(b) | 32 | 9 |
| **Syniverse Holdings, Inc.**<br>11.002% (TSFR3M + 7.000%) due 05/13/2027 ~ | 8 | 8 |
| **U.S. Renal Care, Inc.**<br>9.278% (TSFR1M + 5.000%) due 06/28/2028 ~ | 13 | 13 |
| **Westmoreland Coal Co.**<br>8.000% due 03/15/2029 « | 2 | 1 |
| Total United States |  | 650 |
| Total Loan Participations and Assignments (Cost $933) |  | 949 |
|  | SHARES |  |
| **COMMON STOCKS 47.0%**  |  |  |
| **AUSTRALIA 0.6%**  |  |  |
| **INDUSTRIALS 0.4%**  |  |  |
| **Brambles Ltd.** | 29749 | 488 |
| **Computershare Ltd.** | 11148 | 268 |
|  |  | 756 |
| **MATERIALS 0.2%**  |  |  |
| **Fortescue Ltd.** | 37291 | 462 |
| Total Australia |  | 1218 |
| **AUSTRIA 0.1%**  |  |  |
| **ENERGY 0.1%**  |  |  |
| **OMV AG** | 3164 | 169 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Austria |  | <br> 169 |
| **BELGIUM 0.1%**  |  |  |
| **FINANCIALS 0.1%**  |  |  |
| **Ageas SA** | 3150 | 219 |
| Total Belgium |  | 219 |
| **BRAZIL 0.8%**  |  |  |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Ambev SA** | 102700 | 233 |
| **ENERGY 0.2%**  |  |  |
| **Petroleo Brasileiro SA - Petrobras** | 82200 | 522 |
| **FINANCIALS 0.1%**  |  |  |
| **Banco do Brasil SA** | 36900 | 153 |
| **MATERIALS 0.4%**  |  |  |
| **Vale SA** | 71100 | 769 |
| Total Brazil |  | 1677 |
| **CANADA 1.5%**  |  |  |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Canadian Tire Corp. Ltd. Class A** | 1038 | 124 |
| **Magna International, Inc.** | 4083 | 193 |
|  |  | 317 |
| **ENERGY 0.9%**  |  |  |
| **ARC Resources Ltd.** | 12385 | 226 |
| **Enbridge, Inc.** | 4748 | 239 |
| **Pembina Pipeline Corp.** | 2786 | 113 |
| **South Bow Corp.** | 1863 | 53 |
| **Suncor Energy, Inc.** | 26857 | 1124 |
| **TC Energy Corp.** | 4236 | 230 |
|  |  | 1985 |
| **MATERIALS 0.4%**  |  |  |
| **Barrick Mining Corp.** | 23865 | 784 |
| Total Canada |  | 3086 |
| **CAYMAN ISLANDS 0.0%**  |  |  |
| **FINANCIALS 0.0%**  |  |  |
| **Qfin Holdings, Inc. ADR** | 2266 | 65 |
| Total Cayman Islands |  | 65 |
| **CHILE 0.1%**  |  |  |
| **FINANCIALS 0.1%**  |  |  |
| **Banco de Chile** | 956739 | 145 |
| Total Chile |  | 145 |
| **CHINA 1.8%**  |  |  |
| **COMMUNICATION SERVICES 0.6%**  |  |  |
| **NetEase, Inc.** | 38400 | 1166 |
| **CONSUMER DISCRETIONARY 0.5%**  |  |  |
| **ANTA Sports Products Ltd.** | 18000 | 216 |
| **JD.com, Inc. Class A** | 53850 | 943 |
|  |  | 1159 |
| **ENERGY 0.2%**  |  |  |
| **China Shenhua Energy Co. Ltd. Class H** | 74500 | 356 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **FINANCIALS 0.3%**  |  |  |
| **China Pacific Insurance Group Co. Ltd. Class H** | 40400 | 161 |
| **People's Insurance Co. Group of China Ltd. Class H** | 190000 | 166 |
| **PICC Property & Casualty Co. Ltd. Class H** | 152000 | 343 |
|  |  | 670 |
| **HEALTH CARE 0.1%**  |  |  |
| **CSPC Pharmaceutical Group Ltd.** | 176000 | 212 |
| **MATERIALS 0.1%**  |  |  |
| **China Hongqiao Group Ltd.** | 61500 | 208 |
| Total China |  | 3771 |
| **CZECH REPUBLIC 0.1%**  |  |  |
| **UTILITIES 0.1%**  |  |  |
| **CEZ AS** | 2869 | 178 |
| Total Czech Republic |  | 178 |
| **DENMARK 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **AP Moller - Maersk AS Class B** | 51 | 100 |
| Total Denmark |  | 100 |
| **FINLAND 0.1%**  |  |  |
| **INDUSTRIALS 0.1%**  |  |  |
| **Wartsila OYJ Abp** | 6174 | 185 |
| Total Finland |  | 185 |
| **FRANCE 1.4%**  |  |  |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Cie Generale des Etablissements Michelin SCA** | 14797 | 533 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Carrefour SA** | 13245 | 201 |
| **ENERGY 0.1%**  |  |  |
| **TotalEnergies SE** | 2656 | 162 |
| **INDUSTRIALS 1.0%**  |  |  |
| **Bouygues SA** | 4183 | 188 |
| **Bureau Veritas SA** | 6830 | 214 |
| **Eiffage SA** | 1481 | 190 |
| **Vinci SA** | 10914 | 1517 |
|  |  | 2109 |
| Total France |  | 3005 |
| **GERMANY 0.2%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Aumovio SE (d)** | 864 | 36 |
| **Continental AG** | 1728 | 114 |
|  |  | 150 |
| **INDUSTRIALS 0.1%**  |  |  |
| **GEA Group AG** | 3198 | 236 |
| Total Germany |  | 386 |
| **GREECE 0.2%**  |  |  |
| **FINANCIALS 0.2%**  |  |  |
| **Eurobank Ergasias Services & Holdings SA** | 55518 | 215 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **National** **Bank of Greece SA** | 18852 | 274 |
|  |  | 489 |
| Total Greece |  | 489 |
| **HONG KONG 0.5%**  |  |  |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **WH Group Ltd.** | 179500 | 194 |
| **REAL ESTATE 0.3%**  |  |  |
| **China Resources Land Ltd.** | 69500 | 271 |
| **Sun Hung Kai Properties Ltd.** | 31500 | 377 |
|  |  | 648 |
| **UTILITIES 0.1%**  |  |  |
| **CLP Holdings Ltd.** | 36000 | 298 |
| Total Hong Kong |  | 1140 |
| **INDONESIA 0.4%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Telkom Indonesia Persero Tbk. PT** | 1060600 | 195 |
| **FINANCIALS 0.2%**  |  |  |
| **Bank Mandiri Persero Tbk. PT** | 807900 | 213 |
| **Bank Rakyat Indonesia Persero Tbk. PT** | 1504700 | 353 |
|  |  | 566 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Astra International Tbk. PT** | 431400 | 150 |
| Total Indonesia |  | 911 |
| **IRELAND 1.0%**  |  |  |
| **FINANCIALS 0.2%**  |  |  |
| **AIB Group PLC** | 46945 | 428 |
| **HEALTH CARE 0.5%**  |  |  |
| **Medtronic PLC** | 12175 | 1160 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Ryanair Holdings PLC** | 18732 | 547 |
| Total Ireland |  | 2135 |
| **ISRAEL 0.7%**  |  |  |
| **FINANCIALS 0.7%**  |  |  |
| **Bank Hapoalim BM** | 27195 | 553 |
| **Bank Leumi Le-Israel BM** | 32579 | 642 |
| **Mizrahi Tefahot Bank Ltd.** | 3359 | 220 |
|  |  | 1415 |
| Total Israel |  | 1415 |
| **ITALY 1.6%**  |  |  |
| **FINANCIALS 1.2%**  |  |  |
| **Banco BPM SpA** | 25086 | 377 |
| **BPER Banca SpA** | 32282 | 359 |
| **Intesa Sanpaolo SpA** | 281810 | 1865 |
|  |  | 2601 |
| **UTILITIES 0.4%**  |  |  |
| **Enel SpA** | 87754 | 832 |
| Total Italy |  | 3433 |
| **JAPAN 2.7%**  |  |  |
| **CONSUMER DISCRETIONARY 0.5%**  |  |  |
| **Denso Corp.** | 38600 | 555 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Isuzu** **Motors Ltd.** | 11800 | 149 |
| **Subaru Corp.** | 12700 | 259 |
| **Yamaha Motor Co. Ltd.** | 19100 | 143 |
|  |  | 1106 |
| **CONSUMER STAPLES 0.3%**  |  |  |
| **Japan Tobacco, Inc.** | 20400 | 669 |
| **ENERGY 0.2%**  |  |  |
| **Inpex Corp.** | 19300 | 348 |
| **FINANCIALS 0.5%**  |  |  |
| **MS&AD Insurance Group Holdings, Inc.** | 27900 | 632 |
| **Tokio Marine Holdings, Inc.** | 8400 | 355 |
|  |  | 987 |
| **HEALTH CARE 0.1%**  |  |  |
| **Shionogi & Co. Ltd.** | 8000 | 141 |
| **INDUSTRIALS 0.6%**  |  |  |
| **FANUC Corp.** | 20600 | 592 |
| **Fuji Electric Co. Ltd.** | 2900 | 195 |
| **Nippon Yusen KK** | 9500 | 324 |
| **Obayashi Corp.** | 14200 | 233 |
|  |  | 1344 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **Murata Manufacturing Co. Ltd.** | 36000 | 683 |
| **REAL ESTATE 0.1%**  |  |  |
| **Daito Trust Construction Co. Ltd.** | 6000 | 132 |
| **UTILITIES 0.1%**  |  |  |
| **Osaka Gas Co. Ltd.** | 7600 | 220 |
| Total Japan |  | 5630 |
| **LUXEMBOURG 0.0%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **SES SA «(d)** | 2890 | 34 |
| **FINANCIALS 0.0%**  |  |  |
| **Intelsat SA «(d)(i)** | 2890 | 0 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Foresea Holdings SA «** | 2200 | 48 |
| Total Luxembourg |  | 82 |
| **MALAYSIA 0.1%**  |  |  |
| **UTILITIES 0.1%**  |  |  |
| **Tenaga Nasional Bhd.** | 57000 | 179 |
| Total Malaysia |  | 179 |
| **MEXICO 0.3%**  |  |  |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Desarrolladora Homex SAB de CV «(d)** | 41996 | 0 |
| **MATERIALS 0.3%**  |  |  |
| **Grupo Mexico SAB de CV** | 69400 | 605 |
| Total Mexico |  | 605 |
| **NETHERLANDS 0.2%**  |  |  |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **Koninklijke Ahold Delhaize NV** | 12674 | 513 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Netherlands |  | <br> 513 |
| **NORWAY 0.3%**  |  |  |
| **ENERGY 0.3%**  |  |  |
| **Aker BP ASA** | 6780 | 172 |
| **Equinor ASA** | 16843 | 411 |
|  |  | 583 |
| Total Norway |  | 583 |
| **POLAND 0.5%**  |  |  |
| **ENERGY 0.1%**  |  |  |
| **ORLEN SA** | 12613 | 300 |
| **FINANCIALS 0.4%**  |  |  |
| **Bank Polska Kasa Opieki SA** | 3937 | 190 |
| **Powszechna Kasa Oszczednosci Bank Polski SA** | 19337 | 376 |
| **Powszechny Zaklad Ubezpieczen SA** | 13030 | 195 |
|  |  | 761 |
| Total Poland |  | 1061 |
| **PORTUGAL 0.2%**  |  |  |
| **UTILITIES 0.2%**  |  |  |
| **EDP SA** | 68511 | 325 |
| Total Portugal |  | 325 |
| **SINGAPORE 0.2%**  |  |  |
| **FINANCIALS 0.1%**  |  |  |
| **Singapore Exchange Ltd.** | 18400 | 236 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Singapore Airlines Ltd.** | 32100 | 163 |
| Total Singapore |  | 399 |
| **SOUTH AFRICA 1.0%**  |  |  |
| **FINANCIALS 0.7%**  |  |  |
| **Absa Group Ltd.** | 18385 | 193 |
| **FirstRand Ltd.** | 111588 | 502 |
| **Nedbank Group Ltd.** | 9804 | 121 |
| **Sanlam Ltd.** | 38621 | 187 |
| **Standard Bank Group Ltd.** | 28869 | 395 |
|  |  | 1398 |
| **MATERIALS 0.3%**  |  |  |
| **Gold Fields Ltd.** | 9491 | 397 |
| **Harmony Gold Mining Co. Ltd.** | 12207 | 221 |
|  |  | 618 |
| Total South Africa |  | 2016 |
| **SOUTH KOREA 0.8%**  |  |  |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Kia Corp.** | 5182 | 372 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **KT&G Corp.** | 2038 | 194 |
| **FINANCIALS 0.1%**  |  |  |
| **Samsung Fire & Marine Insurance Co. Ltd.** | 640 | 206 |
| **INFORMATION TECHNOLOGY 0.4%**  |  |  |
| **Samsung Electronics Co. Ltd.** | 14601 | 875 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total South Korea |  | <br> 1647 |
| **SPAIN 2.2%**  |  |  |
| **CONSUMER DISCRETIONARY 0.4%**  |  |  |
| **Industria de Diseno Textil SA** | 16133 | 893 |
| **ENERGY 0.2%**  |  |  |
| **Repsol SA** | 25704 | 457 |
| **FINANCIALS 1.2%**  |  |  |
| **Banco Bilbao Vizcaya Argentaria SA** | 105591 | 2035 |
| **Banco de Sabadell SA** | 111830 | 436 |
|  |  | 2471 |
| **INDUSTRIALS 0.2%**  |  |  |
| **ACS Actividades de Construccion y Servicios SA** | 3875 | 311 |
| **UTILITIES 0.2%**  |  |  |
| **Endesa SA** | 7012 | 224 |
| **Redeia Corp. SA** | 8958 | 173 |
|  |  | 397 |
| Total Spain |  | 4529 |
| **SWEDEN 0.6%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Evolution AB** | 1772 | 146 |
| **FINANCIALS 0.1%**  |  |  |
| **Swedbank AB Class A** | 7060 | 213 |
| **INDUSTRIALS 0.2%**  |  |  |
| **Skanska AB Class B** | 7357 | 191 |
| **SKF AB Class B** | 7282 | 181 |
|  |  | 372 |
| **INFORMATION TECHNOLOGY 0.2%**  |  |  |
| **Telefonaktiebolaget LM Ericsson Class B** | 60712 | 503 |
| Total Sweden |  | 1234 |
| **SWITZERLAND 2.3%**  |  |  |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Nestle SA** | 2575 | 236 |
| **FINANCIALS 0.7%**  |  |  |
| **Swiss Re AG** | 4819 | 895 |
| **Zurich Insurance Group AG** | 864 | 618 |
|  |  | 1513 |
| **HEALTH CARE 1.2%**  |  |  |
| **Novartis AG** | 9349 | 1202 |
| **Roche Holding AG** | 3985 | 1327 |
|  |  | 2529 |
| **MATERIALS 0.3%**  |  |  |
| **Holcim AG** | 6009 | 513 |
| Total Switzerland |  | 4791 |
| **TAIWAN 1.1%**  |  |  |
| **INFORMATION TECHNOLOGY 1.1%**  |  |  |
| **Lite-On Technology Corp.** | 46000 | 262 |
| **MediaTek, Inc.** | 33000 | 1431 |
| **Novatek Microelectronics Corp.** | 12000 | 168 |
| **Realtek Semiconductor Corp.** | 10000 | 181 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **United** **Microelectronics Corp.** | 249000 | 375 |
|  |  | 2417 |
| Total Taiwan |  | 2417 |
| **UNITED KINGDOM 2.9%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Vodafone Group PLC** | 144101 | 168 |
| **CONSUMER STAPLES 1.5%**  |  |  |
| **British American Tobacco PLC** | 45571 | 2424 |
| **Imperial Brands PLC** | 17042 | 724 |
|  |  | 3148 |
| **ENERGY 0.3%**  |  |  |
| **Shell PLC** | 17254 | 615 |
| **FINANCIALS 0.2%**  |  |  |
| **3i Group PLC** | 4448 | 245 |
| **Admiral Group PLC** | 5636 | 255 |
|  |  | 500 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Intertek Group PLC** | 3460 | 220 |
| **MATERIALS 0.5%**  |  |  |
| **Rio Tinto PLC** | 16436 | 1083 |
| **UTILITIES 0.2%**  |  |  |
| **National Grid PLC** | 20620 | 296 |
| Total United Kingdom |  | 6030 |
| **UNITED STATES 20.4%**  |  |  |
| **COMMUNICATION SERVICES 2.6%**  |  |  |
| **Clear Channel Outdoor Holdings, Inc. (d)** | 29821 | 47 |
| **Comcast Corp. Class A** | 34462 | 1083 |
| **Electronic Arts, Inc.** | 5271 | 1063 |
| **iHeartMedia, Inc. Class A (d)** | 6979 | 20 |
| **iHeartMedia, Inc. Class B «(d)** | 5486 | 14 |
| **Uniti Group, Inc. (d)** | 16 | 0 |
| **Verizon Communications, Inc.** | 71281 | 3133 |
|  |  | 5360 |
| **CONSUMER DISCRETIONARY 1.2%**  |  |  |
| **Best Buy Co., Inc.** | 4434 | 335 |
| **Booking Holdings, Inc.** | 32 | 173 |
| **eBay, Inc.** | 10180 | 926 |
| **Expedia Group, Inc.** | 2643 | 565 |
| **Home Depot, Inc.** | 1432 | 580 |
|  |  | 2579 |
| **CONSUMER STAPLES 3.5%**  |  |  |
| **Altria Group, Inc.** | 37196 | 2457 |
| **Colgate-Palmolive Co.** | 6837 | 547 |
| **Kimberly-Clark Corp.** | 7180 | 893 |
| **Philip Morris International, Inc.** | 14415 | 2338 |
| **Procter & Gamble Co.** | 1512 | 232 |
| **Target Corp.** | 10033 | 900 |
|  |  | 7367 |
| **ENERGY 1.5%**  |  |  |
| **Antero Midstream Corp.** | 2266 | 44 |
| **Cheniere Energy, Inc.** | 496 | 117 |
| **ConocoPhillips** | 1544 | 146 |
| **Devon Energy Corp.** | 13337 | 468 |
| **DT Midstream, Inc.** | 1679 | 190 |
| **EOG Resources, Inc.** | 9786 | 1097 |
| **Hess Midstream LP Class A** | 2532 | 87 |
| **Kinder Morgan, Inc.** | 8398 | 238 |
| **Kinetik Holdings, Inc.** | 1591 | 68 |
| **ONEOK, Inc.** | 2812 | 205 |
| **Schlumberger NV** | 4199 | 144 |
| **Targa Resources Corp.** | 723 | 121 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Williams** **Cos., Inc.** | 4008 | 254 |
|  |  | 3179 |
| **FINANCIALS 2.3%**  |  |  |
| **Bank of New York Mellon Corp.** | 3212 | 350 |
| **CME Group, Inc.** | 6923 | 1871 |
| **Hartford Insurance Group, Inc.** | 1786 | 238 |
| **Northern Trust Corp.** | 4294 | 578 |
| **State Street Corp.** | 6297 | 731 |
| **Synchrony Financial** | 8406 | 597 |
| **T. Rowe Price Group, Inc.** | 4815 | 494 |
| **Unity Bancorp, Inc. «(d)** | 46 | 0 |
| **XBP Global Holdings, Inc. (d)** | 929 | 1 |
|  |  | 4860 |
| **HEALTH CARE 4.5%**  |  |  |
| **AbbVie, Inc.** | 7734 | 1791 |
| **AmSurg Corp. «(d)(i)** | 4188 | 189 |
| **Johnson & Johnson** | 18476 | 3426 |
| **Merck & Co., Inc.** | 19230 | 1614 |
| **Pfizer, Inc.** | 86205 | 2196 |
| **UnitedHealth Group, Inc.** | 639 | 221 |
|  |  | 9437 |
| **INDUSTRIALS 0.6%**  |  |  |
| **Lockheed Martin Corp.** | 2220 | 1108 |
| **PACCAR, Inc.** | 1491 | 147 |
| **Westmoreland Mining Holdings «(d)(i)** | 52 | 0 |
| **Westmoreland Mining LLC «(d)(i)** | 165 | 0 |
|  |  | 1255 |
| **INFORMATION TECHNOLOGY 3.7%**  |  |  |
| **Apple, Inc.** | 3936 | 1002 |
| **Cisco Systems, Inc.** | 47381 | 3242 |
| **Microsoft Corp.** | 1967 | 1019 |
| **NVIDIA Corp.** | 9732 | 1816 |
| **QUALCOMM, Inc.** | 3910 | 650 |
|  |  | 7729 |
| **MATERIALS 0.1%**  |  |  |
| **CF Industries Holdings, Inc.** | 3559 | 319 |
| **UTILITIES 0.4%**  |  |  |
| **DTE Energy Co.** | 2223 | 314 |
| **Edison International** | 8393 | 464 |
|  |  | 778 |
| Total United States |  | 42863 |
| Total Common Stocks (Cost $80,743) |  | 98631 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **CORPORATE BONDS & NOTES 5.6%**  |  |  |
| **BERMUDA 0.1%**  |  |  |
| **INDUSTRIALS 0.1%**  |  |  |
| **Essent Group Ltd.** <br>6.250% due 07/01/2029 | $200 | 210 |
| Total Bermuda |  | 210 |
| **FRANCE 0.4%**  |  |  |
| **BANKING & FINANCE 0.3%**  |  |  |
| **BPCE SA** <br>6.714% due 10/19/2029 •  | 250 | 266 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Societe** **Generale SA** <br>6.691% due 01/10/2034 •  | 400 | 436 |
|  |  | 702 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Altice France SA** <br>8.125% due 02/01/2027 | 200 | 191 |
| Total France |  | 893 |
| **IRELAND 0.2%**  |  |  |
| **INDUSTRIALS 0.2%**  |  |  |
| **Russian Railways Via RZD Capital PLC** <br>7.487% due 03/25/2031 ^(c) | 300 | 282 |
| Total Ireland |  | 282 |
| **ITALY 0.1%**  |  |  |
| **BANKING & FINANCE 0.1%**  |  |  |
| **Intesa Sanpaolo SpA** <br>7.200% due 11/28/2033 | $200 | 228 |
| Total Italy |  | 228 |
| **JAPAN 0.4%**  |  |  |
| **INDUSTRIALS 0.4%**  |  |  |
| **Nissan Motor Co. Ltd.** <br>4.810% due 09/17/2030 | 868 | 818 |
| Total Japan |  | 818 |
| **LUXEMBOURG 0.0%**  |  |  |
| **UTILITIES 0.0%**  |  |  |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 27 | 27 |
| Total Luxembourg |  | 27 |
| **NETHERLANDS 0.1%**  |  |  |
| **UTILITIES 0.1%**  |  |  |
| **Enel Finance International NV** <br>4.375% due 09/30/2030 | 250 | 248 |
| Total Netherlands |  | 248 |
| **SAUDI ARABIA 0.1%**  |  |  |
| **INDUSTRIALS 0.1%**  |  |  |
| **Saudi Arabian Oil Co.** <br>4.750% due 06/02/2030 | 200 | 203 |
| Total Saudi Arabia |  | 203 |
| **SPAIN 0.2%**  |  |  |
| **BANKING & FINANCE 0.2%**  |  |  |
| **Banco Santander SA** <br>6.607% due 11/07/2028 | 400 | 428 |
| Total Spain |  | 428 |
| **UNITED KINGDOM 0.4%**  |  |  |
| **BANKING & FINANCE 0.2%**  |  |  |
| **Marex Group PLC** <br>5.829% due 05/08/2028 | 200 | 203 |
| **Nationwide Building Society** <br>6.557% due 10/18/2027 •  | 200 | 204 |
|  |  | 407 |
| **INDUSTRIALS 0.2%**  |  |  |
| **Marston's Issuer PLC** <br>6.738% (SONIO/N + 2.669%) due 07/16/2035 ~ | 200 | 237 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Mitchells** **& Butlers Finance PLC** <br>4.555% (BP0003M + 0.450%) due 12/15/2030 ~ | 48 | 63 |
| **Thames Water Super Senior Issuer PLC** <br>9.750% due 10/10/2027 | 18 | 28 |
| **Thames Water Utilities Finance PLC**  |  |  |
| 2.375% due 04/22/2042  | 100 | 91 |
| 0.875% due 01/31/2030  | 100 | 81 |
| **Thames Water Utilities Ltd.** <br>0.000% due 03/22/2027 (f) | 1 | 2 |
|  |  | 502 |
| Total United Kingdom |  | 909 |
| **UNITED STATES 3.6%**  |  |  |
| **BANKING & FINANCE 0.5%**  |  |  |
| **Credit Suisse AG AT1 Claim** <br>1.000% due 12/31/2060 | $365 | 48 |
| **EPR Properties**  |  |  |
| 4.950% due 04/15/2028  | 2 | 2 |
| 4.750% due 12/15/2026  | 2 | 2 |
| **Ford Motor Credit Co. LLC** <br>4.271% due 01/09/2027 | 460 | 456 |
| **GLP Capital LP/GLP Financing II, Inc.** <br>5.300% due 01/15/2029 | 19 | 19 |
| **Starwood Property Trust, Inc.** <br>5.250% due 10/15/2028 (a) | 500 | 501 |
|  |  | 1028 |
| **INDUSTRIALS 2.5%**  |  |  |
| **American Airlines Pass-Through Trust** <br>3.350% due 04/15/2031 | 6 | 6 |
| **Bayer U.S. Finance II LLC** <br>4.375% due 12/15/2028 | 500 | 498 |
| **Beignet** <br>6.850% due 06/01/2049 «(a) | 1970 | 1970 |
| **Boeing Co.**  |  |  |
| 6.259% due 05/01/2027  | 400 | 412 |
| 6.298% due 05/01/2029  | 10 | 11 |
| 2.750% due 02/01/2026  | 60 | 60 |
| 2.196% due 02/04/2026  | 10 | 10 |
| **CVS Pass-Through Trust** <br>8.353% due 07/10/2031 | 287 | 314 |
| **DISH DBS Corp.**  |  |  |
| 5.250% due 12/01/2026  | 490 | 482 |
| 5.750% due 12/01/2028  | 200 | 192 |
| **Energy Transfer LP** <br>4.950% due 05/15/2028 | 4 | 4 |
| **Hyundai Capital America** <br>4.300% due 09/24/2027 | 400 | 400 |
| **Topaz Solar Farms LLC**  |  |  |
| 5.750% due 09/30/2039  | 56 | 57 |
| 4.875% due 09/30/2039  | 7 | 6 |
| **U.S. Renal Care, Inc.** <br>10.625% due 06/28/2028 | 2 | 2 |
| **Venture Global Calcasieu Pass LLC** <br>3.875% due 08/15/2029 | 230 | 220 |
| **Venture Global LNG, Inc.**  |  |  |
| 9.875% due 02/01/2032  | 150 | 163 |
| 7.000% due 01/15/2030  | 140 | 145 |
| **Venture Global Plaquemines LNG LLC** <br>6.500% due 01/15/2034 | 230 | 242 |
|  |  | 5194 |
| **UTILITIES 0.6%**  |  |  |
| **Pacific Gas & Electric Co.**  |  |  |
| 2.500% due 02/01/2031  | 500 | 446 |
| 3.300% due 03/15/2027  | 20 | 20 |
| 3.750% due 07/01/2028  | 110 | 108 |
| 3.250% due 06/01/2031  | 559 | 514 |
| 4.200% due 03/01/2029  | 200 | 198 |
|  |  | 1286 |
| Total United States |  | 7508 |
| **VENEZUELA 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Petroleos de Venezuela SA**  |  |  |
| 6.000% due 11/15/2026 ^(c)  | 300 | 49 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 9.750% due 05/17/2035 ^(c)  | 20 | 4 |
|  |  | 53 |
| Total Venezuela |  | 53 |
| Total Corporate Bonds & Notes (Cost $12,003) |  | 11807 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 10.7%**  |  |  |
| **IRELAND 1.0%**  |  |  |
| **Kinbane 1 DAC** <br>3.870% due 09/25/2062 ~ | 380 | 455 |
| **Kinbane 2 DAC** <br>0.000% due 08/24/2075 ~(a) | 400 | 470 |
| **Lugo Funding DAC** <br>3.026% due 05/26/2066 •  | 352 | 415 |
| **Merrion Square Residential DAC** <br>3.008% due 03/24/2081 •  | 646 | 760 |
| Total Ireland |  | 2100 |
| **UNITED KINGDOM 1.5%**  |  |  |
| **Avon Finance** <br>4.886% due 12/28/2049 •  | 467 | 630 |
| **Bridgegate Funding PLC** <br>6.316% due 10/16/2062 •  | 1330 | 1800 |
| **Eurosail-U.K. PLC**  |  |  |
| 4.805% due 09/13/2045 •  | 157 | 210 |
| 5.055% due 06/13/2045 •  | 130 | 174 |
| **Grifonas Finance No. 1 PLC** <br>2.344% due 08/28/2039 •  | 92 | 105 |
| **Towd Point Mortgage Funding - Granite 6 PLC** <br>4.978% due 07/20/2053 •  | 216 | 292 |
| Total United Kingdom |  | 3211 |
| **UNITED STATES 8.2%**  |  |  |
| **AG Trust** <br>6.166% due 07/15/2041 •  | $190 | 191 |
| **Banc of America Alternative Loan Trust** <br>6.000% due 07/25/2046 | 33 | 29 |
| **Banc of America Funding Trust** <br>4.753% due 05/20/2036 ~ | 4 | 3 |
| **Banc of America Mortgage Trust**  |  |  |
| 3.641% due 11/20/2046 ~  | 2 | 2 |
| 6.000% due 10/25/2036  | 6 | 5 |
| **BBCCRE Trust** <br>3.966% due 08/10/2033 | 400 | 370 |
| **Chase Home Lending Mortgage Trust**  |  |  |
| 3.250% due 09/25/2064 ~  | 818 | 735 |
| 3.500% due 06/25/2062 ~  | 1394 | 1293 |
| **Chase Mortgage Finance Trust** <br>4.164% due 09/25/2036 ~ | 14 | 12 |
| **CHL Mortgage Pass-Through Trust** <br>4.772% due 07/25/2037 •  | 14 | 4 |
| **CIM Trust**  |  |  |
| 4.750% due 06/25/2064 ~  | 327 | 325 |
| 5.000% due 05/25/2062 ~  | 1155 | 1155 |
| **COMM Mortgage Trust** <br>3.140% due 10/10/2036 | 400 | 377 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 6.000% due 06/25/2036  | 74 | 39 |
| 6.000% due 02/25/2037  | 49 | 18 |
| 6.250% due 12/25/2036 •  | 20 | 8 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>6.000% due 01/25/2036 | 28 | 16 |
| **CSFB Mortgage-Backed Pass-Through Certificates** <br>6.000% due 11/25/2035 | 308 | 67 |
| **CSMC Trust** <br>3.904% due 04/25/2062 ~ | 1210 | 1168 |
| **CSMC Trust Capital Certificates** <br>4.428% due 12/29/2037 ~ | 97 | 49 |
| **DBGS Mortgage Trust** <br>6.915% due 10/15/2036 •  | 900 | 830 |
| **First Horizon Alternative Mortgage Securities Trust** <br>5.120% due 06/25/2036 ~ | 89 | 71 |
| **GS Mortgage-Backed Securities Trust** <br>3.900% due 09/25/2061 þ | 804 | 787 |
| **HSI Asset Loan Obligation Trust** <br>6.000% due 06/25/2037 | 1 | 1 |
| **JP Morgan Alternative Loan Trust** <br>5.843% due 05/26/2037 ~ | 31 | 25 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 4.997% due 04/15/2037 •  | 391 | 385 |
| 6.930% due 11/15/2038 •  | 967 | 968 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 7.235% due 10/05/2040  | 400 | 424 |
| **JP Morgan Mortgage Trust** <br>6.500% due 07/25/2036 | 75 | 23 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.440% due 03/25/2036 ~ | 7 | 4 |
| **MFA Trust**  |  |  |
| 4.250% due 02/25/2066 ~  | 349 | 336 |
| 4.400% due 03/25/2068 þ  | 1149 | 1139 |
| **PRET LLC** <br>5.249% due 10/25/2055 « | 500 | 500 |
| **PRET Trust** <br>4.000% due 03/25/2065 «þ | 500 | 487 |
| **PRPM Trust** <br>6.327% due 06/25/2069 þ | 305 | 312 |
| **RALI Trust**  |  |  |
| 5.072% due 10/25/2045 •  | 40 | 28 |
| 5.500% due 03/25/2037  | 169 | 139 |
| 6.250% due 03/25/2037  | 15 | 12 |
| **RCKT Mortgage Trust**  |  |  |
| 5.158% due 10/25/2044 þ  | 660 | 662 |
| 5.846% due 08/25/2044 þ  | 295 | 298 |
| **Sequoia Mortgage Trust** <br>5.069% due 10/25/2055 ~ | 500 | 503 |
| **Structured Adjustable Rate Mortgage Loan Trust** <br>4.509% due 10/25/2036 ~ | 1072 | 532 |
| **Towd Point Mortgage Trust**  |  |  |
| 4.562% due 10/25/2064 ~  | 345 | 348 |
| 5.043% due 07/25/2065 ~  | 616 | 624 |
| **Verus Securitization Trust** <br>5.799% due 07/25/2069 þ | 613 | 620 |
| **Wells Fargo Alternative Loan Trust** <br>6.443% due 07/25/2037 ~ | 344 | 320 |
| **Wells Fargo Commercial Mortgage Trust** <br>5.693% due 10/15/2042 «•(a) | 500 | 499 |
| **WSTN Trust** <br>6.518% due 07/05/2037 ~ | 500 | 510 |
| Total United States |  | 17253 |
| Total Non-Agency Mortgage-Backed Securities (Cost $22,422) |  | 22564 |
|  | SHARES |  |
| **MASTER LIMITED PARTNERSHIPS 0.1%**  |  |  |
| **UNITED STATES 0.1%**  |  |  |
| **ENERGY 0.1%**  |  |  |
| **Plains GP Holdings LP** | 7748 | 141 |
| Total Master Limited Partnerships (Cost $156) |  | 141 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **MUNICIPAL BONDS & NOTES 0.0%**  |  |  |
| **ILLINOIS 0.0%**  |  |  |
| **Illinois State General Obligation Bonds, (BABs), Series 2010**  |  |  |
| 6.630% due 02/01/2035  | $12 | 12 |
| 7.350% due 07/01/2035  | 4 | 4 |
| Total Municipal Bonds & Notes (Cost $16) |  | 16 |
|  | SHARES |  |
| **PREFERRED STOCKS 0.5%**  |  |  |
| **BRAZIL 0.3%**  |  |  |
| **UTILITIES 0.3%**  |  |  |
| **Petroleo Brasileiro SA - Petrobras** | 102200 | 604 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Brazil |  | <br> 604 |
| **SOUTH KOREA 0.2%**  |  |  |
| **INDUSTRIALS 0.2%**  |  |  |
| **Samsung Electronics Co. Ltd.** | 8312 | 395 |
| Total South Korea |  | 395 |
| **UNITED KINGDOM 0.0%**  |  |  |
| **BANKING & FINANCE 0.0%**  |  |  |
| **Nationwide Building Society**<br>10.250% ~ | 380 | 66 |
| Total United Kingdom |  | 66 |
| Total Preferred Stocks (Cost $965) |  | 1065 |
| **REAL ESTATE INVESTMENT TRUSTS 4.8%**  |  |  |
| **FRANCE 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Klepierre SA** | 4589 | 179 |
| Total France |  | 179 |
| **HONG KONG 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Link REIT** | 57400 | 295 |
| Total Hong Kong |  | 295 |
| **SINGAPORE 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **CapitaLand Ascendas REIT** | 68500 | 148 |
| Total Singapore |  | 148 |
| **UNITED STATES 4.5%**  |  |  |
| **REAL ESTATE 4.5%**  |  |  |
| **American Assets Trust, Inc.** | 7940 | 161 |
| **American Healthcare REIT, Inc.** | 3787 | 159 |
| **Annaly Capital Management, Inc.** | 13192 | 267 |
| **Broadstone Net Lease, Inc.** | 43768 | 782 |
| **EPR Properties** | 4392 | 255 |
| **Gaming & Leisure Properties, Inc.** | 17088 | 797 |
| **Highwoods Properties, Inc.** | 10160 | 323 |
| **Host Hotels & Resorts, Inc.** | 23066 | 393 |
| **Kilroy Realty Corp.** | 3817 | 161 |
| **LXP Industrial Trust** | 71714 | 643 |
| **Millrose Properties, Inc.** | 23362 | 785 |
| **National Health Investors, Inc.** | 3160 | 251 |
| **NNN REIT, Inc.** | 11449 | 487 |
| **Omega Healthcare Investors, Inc.** | 19114 | 807 |
| **Sabra Health Care REIT, Inc.** | 43198 | 805 |
| **Sila Realty Trust, Inc.** | 32180 | 808 |
| **Simon Property Group, Inc.** | 4113 | 772 |
| **VICI Properties, Inc.** | 20233 | 660 |
| **Welltower, Inc.** | 979 | 174 |
|  |  | 9490 |
| Total United States |  | 9490 |
| Total Real Estate Investment Trusts (Cost $9,082) |  | 10112 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **SOVEREIGN ISSUES 3.3%**  |  |  |
| **ARGENTINA 0.3%**  |  |  |
| **Argentina Bonar Bonds**  |  |  |
| 0.750% due 07/09/2030 þ  | $94 | 48 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 4.125% due 07/09/2035 þ  | 206 | 97 |
| **Argentina Republic Government International Bonds**  |  |  |
| 0.750% due 07/09/2030 þ  | 146 | 99 |
| 1.000% due 07/09/2029  | 25 | 18 |
| 3.500% due 07/09/2041 þ  | 196 | 95 |
| 4.125% due 07/09/2035 þ  | 167 | 88 |
| 5.000% due 01/09/2038 þ  | 269 | 152 |
| Total Argentina |  | 597 |
| **BRAZIL 0.5%**  |  |  |
| **Brazil Letras do Tesouro Nacional** <br>0.000% due 04/01/2026 (f) | 5900 | 1036 |
| Total Brazil |  | 1036 |
| **COLOMBIA 0.1%**  |  |  |
| **Colombia Government International Bonds** <br>5.000% due 09/19/2032 | 250 | 290 |
| Total Colombia |  | 290 |
| **EGYPT 0.1%**  |  |  |
| **Egypt Government Bonds** <br>21.954% due 03/04/2028 | 11400 | 238 |
| Total Egypt |  | 238 |
| **JAPAN 0.0%**  |  |  |
| **Japan Government Thirty Year Bonds** <br>2.400% due 03/20/2055 | 2000 | 12 |
| **Japan Government Twenty Year Bonds** <br>2.400% due 03/20/2045 | 9000 | 59 |
| Total Japan |  | 71 |
| **LUXEMBOURG 0.3%**  |  |  |
| **Eagle Funding Luxco SARL** <br>5.500% due 08/17/2030 | $500 | 508 |
| Total Luxembourg |  | 508 |
| **MEXICO 0.6%**  |  |  |
| **Mexico Bonos**  |  |  |
| 7.500% due 05/26/2033  | 400 | 21 |
| 7.750% due 05/29/2031  | 2200 | 117 |
| 7.750% due 11/23/2034  | 3880 | 200 |
| 8.500% due 03/01/2029  | 2500 | 139 |
| 8.500% due 05/31/2029  | 1700 | 94 |
| **Mexico Government International Bonds** <br>5.375% due 03/22/2033 | $500 | 500 |
| **Mexico Udibonos**  |  |  |
| 2.750% due 11/27/2031 (g)  | 513 | 25 |
| 3.000% due 12/03/2026 (g)  | 513 | 28 |
| 4.000% due 11/30/2028 (g)  | 171 | 9 |
| 4.000% due 08/24/2034 (g)  | 342 | 18 |
| Total Mexico |  | 1151 |
| **PERU 0.6%**  |  |  |
| **Peru Government Bonds**  |  |  |
| 6.150% due 08/12/2032  | 104 | 32 |
| 7.300% due 08/12/2033  | 700 | 225 |
| 7.600% due 08/12/2039  | 300 | 95 |
| **Peru Government International Bonds**  |  |  |
| 5.400% due 08/12/2034  | 100 | 28 |
| 6.150% due 08/12/2032  | 1320 | 403 |
| 6.900% due 08/12/2037  | 153 | 46 |
| 6.950% due 08/12/2031  | 1283 | 409 |
| Total Peru |  | 1238 |
| **ROMANIA 0.3%**  |  |  |
| **Romania Government International Bonds**  |  |  |
| 5.125% due 09/24/2031  | 200 | 235 |
| 5.625% due 05/30/2037  | 100 | 112 |
| 6.250% due 09/10/2034  | 200 | 242 |
| 6.750% due 07/11/2039  | 100 | 120 |
| Total Romania |  | 709 |
| **SOUTH AFRICA 0.3%**  |  |  |
| **Republic of South Africa Government Bonds**  |  |  |
| 7.000% due 02/28/2031  | 4600 | 253 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 8.000% due 01/31/2030  | 300 | 17 |
| 8.500% due 01/31/2037  | 900 | 48 |
| 8.875% due 02/28/2035  | 6100 | 347 |
| 9.000% due 01/31/2040  | 200 | 11 |
| Total South Africa |  | 676 |
| **TURKEY 0.2%**  |  |  |
| **Turkiye Government Bonds**  |  |  |
| 40.854% (BISTREFI) due 09/06/2028 ~  | 300 | 7 |
| 42.493% (BISTREFI) due 05/17/2028 ~  | 6400 | 151 |
| **Turkiye Government International Bonds** <br>5.250% due 03/13/2030 | $200 | 196 |
| Total Turkey |  | 354 |
| **VENEZUELA 0.0%**  |  |  |
| **Venezuela Government International Bonds**  |  |  |
| 7.000% due 03/31/2038 ^(c)  | 2 | 0 |
| 7.650% due 04/21/2035 ^(c)  | 3 | 1 |
| 9.250% due 09/15/2027 ^(c)  | 44 | 11 |
| Total Venezuela |  | 12 |
| Total Sovereign Issues (Cost $6,574) |  | 6880 |
| **U.S. GOVERNMENT AGENCIES 28.6%**  |  |  |
| **UNITED STATES 28.6%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.000% due 05/01/2052 | 161 | 142 |
| 4.000% due 08/01/2042 - 09/01/2042 | 53 | 51 |
| **Federal National Mortgage Association**  |  |  |
| 3.000% due 11/01/2029 - 05/01/2052 | 136 | 120 |
| 3.500% due 02/01/2050 | 24 | 22 |
| 4.000% due 08/01/2042 - 10/01/2042 | 27 | 26 |
| 7.000% due 03/01/2045 | 1100 | 1152 |
| **Government National Mortgage Association**<br>6.500% due 01/20/2055 | 200 | 206 |
| **Government National Mortgage Association, TBA**  |  |  |
| 3.000% due 11/01/2055 | 200 | 179 |
| 3.500% due 11/01/2055 | 100 | 91 |
| 4.000% due 11/01/2055 | 300 | 282 |
| 4.500% due 11/01/2055 | 1800 | 1745 |
| 5.000% due 11/01/2055 | 1200 | 1192 |
| 5.500% due 11/01/2055 | 250 | 252 |
| 6.000% due 10/01/2055 - 11/01/2055 | 1100 | 1119 |
| 6.500% due 11/01/2055 | 400 | 411 |
| **Uniform Mortgage-Backed Security, TBA**  |  |  |
| 3.000% due 11/01/2055 | 2900 | 2548 |
| 3.500% due 11/01/2055 | 1300 | 1188 |
| 4.000% due 11/01/2055 | 7100 | 6691 |
| 4.500% due 10/01/2055 - 11/01/2055 | 3400 | 3297 |
| 5.000% due 11/01/2055 | 10300 | 10209 |
| 5.500% due 11/01/2055 | 4800 | 4837 |
| 6.000% due 11/01/2055 | 11400 | 11645 |
| 6.500% due 11/01/2055 | 12300 | 12720 |
| Total U.S. Government Agencies (Cost $60,249) |  | 60125 |
| **U.S. TREASURY OBLIGATIONS 10.8%**  |  |  |
| **UNITED STATES 10.8%**  |  |  |
| **U.S. Treasury Bonds**  |  |  |
| 2.875% due 11/15/2046 | 600 | 449 |
| 3.000% due 02/15/2049 | 1133 | 849 |
| 4.250% due 08/15/2054 | 100 | 92 |
| 4.375% due 08/15/2043 | 300 | 290 |
| 4.500% due 11/15/2054 | 1000 | 963 |
| 4.625% due 05/15/2054 | 800 | 786 |
| **U.S. Treasury Inflation Protected Securities (g)** |  |  |
| 0.125% due 02/15/2051  | 372 | 207 |
| 1.000% due 02/15/2048  | 131 | 98 |
| 1.000% due 02/15/2049  | 128 | 95 |
| 0.125% due 04/15/2026  | 985 | 980 |
| 0.125% due 07/15/2031  | 2567 | 2398 |
| 0.250% due 07/15/2029 (l) | 907 | 880 |
| 0.375% due 01/15/2027  | 43 | 42 |
| 0.375% due 07/15/2027  | 13 | 13 |
| 0.625% due 07/15/2032  | 667 | 631 |
| 0.750% due 07/15/2028  | 270 | 269 |
| 0.875% due 01/15/2029  | 444 | 441 |
| 1.375% due 07/15/2033 | 1915 | 1886 |
| 1.625% due 04/15/2030  | 304 | 309 |
| 1.750% due 01/15/2034  | 105 | 106 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| 1.875% due 07/15/2034 (j) |  | 1029 | 1045 |
| **U.S. Treasury Notes**  |  |  |  |
| 0.500% due 10/31/2027 |  | 100 | 94 |
| 0.625% due 11/30/2027 |  | 550 | 516 |
| 0.625% due 12/31/2027 |  | 220 | 206 |
| 0.750% due 01/31/2028 |  | 110 | 103 |
| 2.375% due 03/31/2029 |  | 2800 | 2683 |
| 4.000% due 10/31/2029 (l) |  | 800 | 809 |
| 4.000% due 07/31/2032 |  | 1800 | 1809 |
| 4.500% due 03/31/2026 |  | 1800 | 1806 |
| 4.500% due 04/15/2027 |  | 1800 | 1823 |
| Total U.S. Treasury Obligations (Cost $23,813) |  |  | 22678 |
|  |  | SHARES |  |
| **WARRANTS 0.0%**  |  |  |  |
| **UNITED STATES 0.0%**  |  |  |  |
| **FINANCIALS 0.0%**  |  |  |  |
| **Windstream Holdings II LLC - Exp. 10/25/2059 «** |  | 9 | 0 |
| Total Warrants (Cost $0) |  |  | 0 |
| **SHORT-TERM INSTRUMENTS 0.4%**  |  |  |  |
| **MUTUAL FUNDS 0.3%**  |  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 4.200% (h) |  | 704186 | 704 |
|  |  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **NIGERIA TREASURY BILLS 0.1%**  |  |  |  |
| 31.666% due 06/11/2026 - 06/29/2026 ~(e)(f) | NGN | 438670 | 259 |
| Total Short-Term Instruments (Cost $940) |  |  | 963 |
| Total Investments in Securities (Cost $250,630) |  |  | 268162 |
|  |  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 1.0%**  |  |  |  |
| **SHORT-TERM INSTRUMENTS 1.0%**  |  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 1.0%**  |  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** |  | 217942 | 2123 |
| Total Short-Term Instruments (Cost $2,122) |  |  | 2123 |
| Total Investments in Affiliates (Cost $2,122) |  |  | 2123 |
| Total Investments 128.7% (Cost $252,752) |  |  | $270285 |
| **Financial Derivative Instruments (k)(m) 0.0**%(Cost or Premiums, net $2) |  |  | 84 |
| Other Assets and Liabilities, net (28.7)% |  |  | (60379) |
| Net Assets 100.0% |  |  | $209990 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **^** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** |
| **(b)** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** |
| **(c)** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** |
| **(d)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(e)** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(f)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(g)** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** | **Principal amount of security is adjusted for inflation.** |
| **(h)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(i)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Issuer Description | Issuer Description |  | Acquisition<br>Date | Acquisition<br>Date | Cost | Cost | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets |
| AmSurg Corp. | AmSurg Corp. | AmSurg Corp. |  | 11/02/2023 - 11/06/2023 | 11/02/2023 - 11/06/2023 | 175 | 175 | 175 | 189 | 0.09 |
| Intelsat SA | Intelsat SA | Intelsat SA |  | 06/19/2017 - 07/03/2023 | 06/19/2017 - 07/03/2023 | 107 | 107 | 107 | 0 | 0.00 |
| Westmoreland Mining Holdings | Westmoreland Mining Holdings | Westmoreland Mining Holdings |  | 03/26/2019 | 03/26/2019 | 0 | 0 | 0 | 0 | 0.00 |
| Westmoreland Mining LLC | Westmoreland Mining LLC | Westmoreland Mining LLC |  | 06/30/2023 - 02/03/2025 | 06/30/2023 - 02/03/2025 | 1 | 1 | 1 | 0 | 0.00 |
|  |  |  |  |  | $ | 283 | 283 | $ | 189 | 0.09%  |
| **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Counterparty | Settlement Date | Maturity Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> |  | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| DEU | DEU | DEU | 09/30/2025 | 10/01/2025 | 10/01/2025 | 10/01/2025 | (1049) | (1049) | $ | (1049) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  | **$** | **(1049)** |
| **(j)** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $1,045 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(225) at a weighted average interest rate of 6.763%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| **(k)** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** |
| **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Expiration<br>Month | # of<br>Contracts | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset | Liability |
| Long Guilt December Futures  | Long Guilt December Futures  | 12/2025 | 64 | 7819 | 37 | 37 | 37 | $ | 34 | $(4) |
| U.S. Treasury 2-Year Note December Futures  | U.S. Treasury 2-Year Note December Futures  | 12/2025 | 1 | 208 | 0 | 0 | 0 |  | 0 | 0 |
| U.S. Treasury 5-Year Note December Futures  | U.S. Treasury 5-Year Note December Futures  | 12/2025 | 125 | 13649 | 6 | 6 | 6 |  | 5 | 0 |
| U.S. Treasury 10-Year Note December Futures  | U.S. Treasury 10-Year Note December Futures  | 12/2025 | 202 | 22725 | 63 | 63 | 63 |  | 0 | (3) |
| U.S. Treasury Ultra Long-Term Bond December Futures  | U.S. Treasury Ultra Long-Term Bond December Futures  | 12/2025 | 6 | 720 | 19 | 19 | 19 |  | 0 | (4) |
|  |  |  |  |  | 125 | 125 | $ | $ | $ | (11) |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** | **SHORT** **FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | Description | Description | Description | Description | Description |  |  |  | Expiration<br>Month | Expiration<br>Month | Expiration<br>Month | # of<br>Contracts | # of<br>Contracts |  | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Asset | Liability |
| 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 3-Month SOFR Active Contract December Futures  | 03/2026 | 03/2026 | 03/2026 | 1 | 1 | $ | (241) | (241) | $4 | 4 | 4 | 0 | 0 | 0 | 0 |
| 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 3-Month SOFR Active Contract March Futures  | 06/2026 | 06/2026 | 06/2026 | 1 | 1 |  | (241) | (241) | 3 | 3 | 3 | 0 | 0 | 0 | 0 |
| 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 3-Month SOFR Active Contract September Futures  | 12/2025 | 12/2025 | 12/2025 | 1 | 1 |  | (240) | (240) | 5 | 5 | 5 | 0 | 0 | 0 | 0 |
| Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | Australia Government 10-Year Bond December Futures  | 12/2025 | 12/2025 | 12/2025 | 9 | 9 |  | (675) | (675) | 1 | 1 | 1 | 0 | 0 | 0 | (5) |
| Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | Euro-Bobl December Futures  | 12/2025 | 12/2025 | 12/2025 | 7 | 7 |  | (968) | (968) | 0 | 0 | 0 | 0 | 0 | 0 | (1) |
| Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | Euro-Bund December Futures  | 12/2025 | 12/2025 | 12/2025 | 12 | 12 |  | (1811) | (1811) | (11) | (11) | (11) | 0 | 0 | 0 | (5) |
| U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | U.S. Treasury Long-Term Bond December Futures  | 12/2025 | 12/2025 | 12/2025 | 15 | 15 |  | (1749) | (1749) | (39) | (39) | (39) | 4 | 4 | 4 | 0 |
| U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | U.S. Ultra Treasury 10-Year Note December Futures  | 12/2025 | 12/2025 | 12/2025 | 14 | 14 |  | (1611) | (1611) | (22) | (22) | (22) | 1 | 1 | 1 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (59) | (59) | $ | 5 | 5 | $ | (11) |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **66** | **66** | **$** | **44** | **44** | **$** | **(22)** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> |
| Reference Entity | Reference Entity | Fixed <br>(Pay) Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| Ford Motor Co.  | Ford Motor Co.  | (5.000)% | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 0.499 | 0.499 | 0.499 | % | % | $ | $100 | 100 | (5) | $ | 2 | $ | (3) | (3) | 0 | 0 | 0 |
| **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> |
| Reference Entity | Reference Entity | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(3)</sup> |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| AT&T, Inc.  | AT&T, Inc.  | 1.000% | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 06/20/2028 | 0.402 | 0.402 | 0.402 | % | % | $ | $600 | 600 | (5) | $ | 14 | $ | 9 | 9 | 0 | 0 | 0 |
| Ford Motor Co.  | Ford Motor Co.  | 5.000 | Quarterly | Quarterly | 06/20/2027 | 06/20/2027 | 06/20/2027 | 0.872 | 0.872 | 0.872 |  |  |  | 200 | 200 | 24 |  | (10) |  | 14 | 14 | 0 | 0 | 0 |
| Verizon Communications, Inc.  | Verizon Communications, Inc.  | 1.000 | Quarterly | Quarterly | 06/20/2026 | 06/20/2026 | 06/20/2026 | 0.217 | 0.217 | 0.217 |  |  |  | 500 | 500 | 11 |  | (8) |  | 3 | 3 | 0 | 0 | 0 |
| Verizon Communications, Inc.  | Verizon Communications, Inc.  | 1.000 | Quarterly | Quarterly | 06/20/2028 | 06/20/2028 | 06/20/2028 | 0.391 | 0.391 | 0.391 |  |  |  | 250 | 250 | 0 |  | 4 |  | 4 | 4 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30 | $ | 0 | $ | 30 | 30 | 0 | 0 | 0 |
| **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> | **CREDIT DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(2)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> |
| Index/Tranches | Index/Tranches | Index/Tranches | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  |  | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Notional<br>Amount<sup>(4)</sup> | Premiums<br>Paid/<br>(Received) |  | Unrealized<br>Appreciation/<br>(Depreciation) |  | Market<br>Value<sup>(5)</sup> | Market<br>Value<sup>(5)</sup> | Asset | Asset | Liability |
| CDX.EM-36 5-Year Index  | CDX.EM-36 5-Year Index  | CDX.EM-36 5-Year Index  | 1.000% | 1.000% | Quarterly | Quarterly | 12/20/2026 | 12/20/2026 | 12/20/2026 | 12/20/2026 | $ | $ | $552 | 552 | 552 | (21) | $ | 24 | $ | 3 | 3 | 0 | 0 | 0 |
| CDX.EM-40 5-Year Index  | CDX.EM-40 5-Year Index  | CDX.EM-40 5-Year Index  | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2028 | 12/20/2028 | 12/20/2028 | 12/20/2028 |  |  | 200 | 200 | 200 | (10) |  | 10 |  | 0 | 0 | 0 | 0 | 0 |
| CDX.EM-42 5-Year Index  | CDX.EM-42 5-Year Index  | CDX.EM-42 5-Year Index  | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 | 12/20/2029 |  |  | 200 | 200 | 200 | (6) |  | 4 |  | (2) | (2) | 0 | 0 | 0 |
| CDX.EM-44 5-Year Index  | CDX.EM-44 5-Year Index  | CDX.EM-44 5-Year Index  | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 12/20/2030 |  |  | 200 | 200 | 200 | (5) |  | 1 |  | (4) | (4) | 0 | 0 | 0 |
| CDX.HY-43 5-Year Index  | CDX.HY-43 5-Year Index  | CDX.HY-43 5-Year Index  | 5.000 | 5.000 | Quarterly | Quarterly | 12/20/2029 | 12/20/2029 | 12/20/2029 | 12/20/2029 |  |  | 2000 | 2000 | 2000 | 144 |  | 9 |  | 153 | 153 | 0 | 0 | (3) |
| CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | CDX.HY-45 5-Year Index  | 5.000 | 5.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 12/20/2030 |  |  | 4000 | 4000 | 4000 | 305 |  | 9 |  | 314 | 314 | 4 | 4 | 0 |
| CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | CDX.IG-45 5-Year Index  | 1.000 | 1.000 | Quarterly | Quarterly | 12/20/2030 | 12/20/2030 | 12/20/2030 | 12/20/2030 |  |  | 1800 | 1800 | 1800 | 40 |  | 1 |  | 41 | 41 | 0 | 0 | 0 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 447 | $ | 58 | $ | 505 | 505 | 4 | 4 | (3) |
| **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> | <u>Variation Margin</u><sup>(7)</sup> |
| Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Floating Rate Index | Floating Rate Index | Fixed Rate | Fixed Rate | Payment<br>Frequency | Payment<br>Frequency | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Maturity<br>Date |  |  | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Asset | Liability |
| Pay | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 3.750% | 3.750% | Annual | Annual | Annual | 09/17/2030 | 09/17/2030 | 09/17/2030 | GBP | GBP | 3900 | 3900 | $(13) | (13) | (10) | (10) | (23) | (23) | $6 | 6 | $0 |
| Receive | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 1-Day GBP-SONIO Compounded-OIS | 4.000 | 4.000 | Annual | Annual | Annual | 09/17/2035 | 09/17/2035 | 09/17/2035 |  |  | 1200 | 1200 | 25 | 25 | (5) | (5) | 20 | 20 | 0 | 0 | (4) |
| Pay | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 0.176 | 0.176 | Annual | Annual | Annual | 04/27/2027 | 04/27/2027 | 04/27/2027 | JPY | JPY | 30000 | 30000 | 0 | 0 | (3) | (3) | (3) | (3) | 0 | 0 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 1-Day JPY-MUTKCALM Compounded-OIS | 0.020 | 0.020 | Semi-Annual | Semi-Annual | Semi-Annual | 09/20/2028 | 09/20/2028 | 09/20/2028 |  |  | 210000 | 210000 | 4 | 4 | 44 | 44 | 48 | 48 | 1 | 1 | 0 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.000 | Semi-Annual | 03/15/2029 | 641000 | 45 | 126 | 171 | 3 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.700 | Annual | 09/18/2029 | 130000 | 2 | 13 | 15 | 1 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.400 | Annual | 06/15/2032 | 90200 | 2 | 33 | 35 | 1 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.000 | Annual | 09/18/2034 | 70000 | 4 | 13 | 17 | 1 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 1.250 | Annual | 06/18/2035 | 30000 | (7) | 11 | 4 | 1 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.500 | Annual | 03/15/2042 | 48000 | 13 | 55 | 68 | 1 | 0 |
| Receive | 1-Day JPY-MUTKCALM Compounded-OIS | 0.711 | Annual | 04/27/2042 | 9000 | 0 | 11 | 11 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.600 | Annual | 01/16/2026 | $1200 | 15 | 18 | 33 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.300 | Annual | 01/17/2026 | 1000 | 0 | 20 | 20 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.928 | Semi-Annual | 05/06/2026 | 100 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.940 | Semi-Annual | 06/08/2026 | 100 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.500 | Semi-Annual | 06/16/2026 | 1000 | 9 | 16 | 25 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Semi-Annual | 06/19/2026 | 2300 | (188) | 189 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/21/2026 | 170 | 1 | 0 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 12/15/2026 | 100 | (2) | 5 | 3 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.740 | Semi-Annual | 12/16/2026 | 100 | (5) | 7 | 2 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.380 | Semi-Annual | 01/04/2027 | 100 | 0 | (4) | (4) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.570 | Semi-Annual | 01/11/2027 | 200 | 0 | (7) | (7) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.425 | Semi-Annual | 01/18/2027 | 100 | 0 | (4) | (4) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.443 | Semi-Annual | 01/18/2027 | 100 | 0 | (4) | (4) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.350 | Semi-Annual | 01/20/2027 | 500 | 0 | 19 | 19 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.550 | Semi-Annual | 01/20/2027 | 2400 | (6) | (78) | (84) | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.580 | Semi-Annual | 02/16/2027 | 200 | 0 | (7) | (7) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.450 | Semi-Annual | 02/17/2027 | 1200 | 0 | 42 | 42 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.700 | Semi-Annual | 02/17/2027 | 4900 | (13) | (142) | (155) | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.928 | Annual | 03/25/2027 | 200 | (1) | (6) | (7) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Annual | 06/15/2027 | 200 | 8 | 2 | 10 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.850 | Annual | 08/30/2027 | 200 | (1) | (1) | (2) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.900 | Annual | 10/04/2027 | 900 | (7) | (16) | (23) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2027 | 200 | 14 | (4) | 10 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 03/10/2028 | 100 | 0 | 1 | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.280 | Semi-Annual | 03/24/2028 | 400 | 0 | (22) | (22) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.235 | Semi-Annual | 05/12/2028 | 100 | 0 | 6 | 6 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.500 | Semi-Annual | 06/16/2028 | 1610 | (67) | (63) | (130) | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.250 | Semi-Annual | 06/20/2028 | 4900 | (419) | 568 | 149 | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/21/2028 | 2110 | 2 | 10 | 12 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 09/05/2028 | 200 | (2) | 4 | 2 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.265 | Semi-Annual | 09/28/2028 | 100 | 0 | (7) | (7) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.515 | Annual | 11/30/2028 | 110 | 0 | 0 | 0 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/15/2028 | 422 | 9 | (35) | (26) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/20/2028 | 1690 | 10 | (22) | (12) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.379 | Semi-Annual | 12/22/2028 | 100 | 0 | 7 | 7 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 01/12/2029 | 55 | 0 | 4 | 4 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.700 | Semi-Annual | 01/12/2029 | 200 | (1) | (12) | (13) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.940 | Annual | 02/22/2029 | 200 | (1) | 4 | 3 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.970 | Annual | 02/27/2029 | 100 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 02/28/2029 | 220 | 0 | 2 | 2 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 03/20/2029 | 180 | (6) | 1 | (5) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Annual | 06/15/2029 | 310 | 18 | 10 | 28 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.000 | Annual | 06/15/2029 | 220 | (9) | (11) | (20) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2029 | 282 | 16 | 2 | 18 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 3540 | (61) | 18 | (43) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 12/10/2029 | 100 | (9) | 15 | 6 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 12/18/2029 | 200 | (11) | 27 | 16 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2029 | 4460 | (69) | 24 | (45) | 0 | (3) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2029 | 1370 | 120 | (21) | 99 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 01/15/2030 | 300 | (22) | 46 | 24 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 02/12/2030 | 200 | (18) | 32 | 14 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 02/22/2030 | 100 | 0 | 0 | 0 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.340 | Annual | 02/23/2030 | 200 | (1) | 0 | (1) | 0 | 0 |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 02/28/2030 | 837 | (1) | 2 | 1 | 0 | (1) |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.325 | Annual | 02/28/2030 | 803 | (5) | 5 | 0 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.842 | Annual | 03/04/2030 | 100 | 0 | (2) | (2) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 03/10/2030 | 100 | (9) | 16 | 7 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 06/17/2030 | 2400 | (97) | 343 | 246 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2030 | 2460 | 35 | 15 | 50 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/22/2030 | 200 | (1) | 2 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2030 | 730 | (10) | (2) | (12) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Semi-Annual | 12/16/2030 | 127 | 0 | 16 | 16 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2030 | 2120 | 46 | (41) | 5 | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 03/20/2031 | 280 | (13) | 2 | (11) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.431 | Annual | 04/30/2031 | 110 | 0 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 06/16/2031 | 2600 | 174 | 221 | 395 | 0 | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 06/16/2031 | 663 | (49) | (52) | (101) | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2031 | 1560 | 31 | (55) | (24) | 0 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 06/30/2031 | 110 | 0 | 1 | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.450 | Semi-Annual | 07/16/2031 | 100 | 0 | 13 | 13 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.370 | Semi-Annual | 07/19/2031 | 100 | 0 | 13 | 13 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.360 | Semi-Annual | 07/20/2031 | 100 | 0 | 13 | 13 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.405 | Semi-Annual | 09/07/2031 | 100 | (1) | 14 | 13 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.500 | Semi-Annual | 10/05/2031 | 100 | 0 | (13) | (13) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.535 | Semi-Annual | 10/15/2031 | 100 | 0 | (13) | (13) | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.545 | Semi-Annual | 10/26/2031 | 100 | 0 | (12) | (12) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2031 | 500 | (2) | (4) | (6) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.768 | Semi-Annual | 02/02/2032 | 100 | 0 | (12) | (12) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 02/18/2032 | 200 | (1) | (20) | (21) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.817 | Annual | 04/05/2032 | 400 | (2) | (41) | (43) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.872 | Annual | 04/06/2032 | 200 | (1) | (20) | (21) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/15/2032 | 1923 | (2) | (29) | (31) | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.250 | Annual | 06/15/2032 | 210 | (21) | (9) | (30) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 280 | (24) | (7) | (31) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 399 | 35 | 9 | 44 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2032 | 710 | (15) | 4 | (11) | 0 |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/17/2032 | 60 | (1) | 0 | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2032 | 2100 | 246 | (4) | 242 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.430 | Annual | 02/27/2033 | 100 | (1) | 0 | (1) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.370 | Annual | 03/01/2033 | 100 | (1) | (1) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.405 | Annual | 03/01/2033 | 100 | (1) | 0 | (1) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.425 | Annual | 03/01/2033 | 100 | 0 | (1) | (1) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 03/06/2033 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.450 | Annual | 03/07/2033 | 100 | 0 | (1) | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 05/22/2033 | 6420 | 63 | (30) | 33 | (1) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.700 | Annual | 06/06/2033 | 3870 | (31) | (5) | (36) | (1) |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.300 | Annual | 06/14/2033 | 200 | (1) | (3) | (4) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.000 | Annual | 06/21/2033 | 725 | 10 | 19 | 29 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 06/21/2033 | 100 | (1) | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.650 | Annual | 07/10/2033 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 07/12/2033 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.760 | Annual | 08/23/2033 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.800 | Annual | 08/30/2033 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 08/30/2033 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.950 | Annual | 09/13/2033 | 100 | 0 | 3 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.165 | Annual | 09/27/2033 | 200 | (1) | 9 | 8 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.155 | Annual | 10/02/2033 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.170 | Annual | 10/03/2033 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.030 | Annual | 10/04/2033 | 100 | 0 | 3 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.175 | Annual | 10/10/2033 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.150 | Annual | 10/12/2033 | 100 | (1) | 5 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.220 | Annual | 10/20/2033 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.450 | Annual | 10/31/2033 | 100 | 0 | 6 | 6 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.450 | Annual | 11/01/2033 | 100 | (1) | 7 | 6 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.250 | Annual | 11/22/2033 | 100 | (1) | (4) | (5) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.030 | Annual | 12/15/2033 | 100 | (1) | (2) | (3) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.950 | Annual | 12/19/2033 | 100 | (1) | (1) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 12/20/2033 | 40 | 0 | 0 | 0 | 0 |

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------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.684 | Annual | 01/03/2034 | 100 | (1) | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.648 | Annual | 01/08/2034 | 100 | (1) | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.670 | Annual | 01/08/2034 | 100 | (1) | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.594 | Annual | 01/09/2034 | 100 | 0 | 0 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.665 | Annual | 01/24/2034 | 100 | (1) | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.685 | Annual | 01/24/2034 | 100 | (1) | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.725 | Annual | 02/07/2034 | 100 | (1) | 2 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.860 | Annual | 02/21/2034 | 200 | (1) | 5 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.650 | Annual | 03/05/2034 | 100 | (1) | 1 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.710 | Annual | 03/05/2034 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.900 | Annual | 04/10/2034 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.950 | Annual | 04/16/2034 | 100 | 0 | 3 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.080 | Annual | 04/17/2034 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.085 | Annual | 04/22/2034 | 100 | (1) | 5 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.150 | Annual | 04/22/2034 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.105 | Annual | 04/24/2034 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.078 | Annual | 04/29/2034 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.090 | Annual | 04/30/2034 | 200 | (1) | 8 | 7 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.130 | Annual | 05/03/2034 | 100 | 0 | 4 | 4 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.200 | Annual | 05/06/2034 | 100 | 0 | 5 | 5 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.080 | Annual | 06/05/2034 | 100 | (1) | (3) | (4) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2034 | 760 | (20) | 28 | 8 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.994 | Annual | 07/02/2034 | 100 | 0 | (3) | (3) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 4.060 | Annual | 07/02/2034 | 100 | 0 | (3) | (3) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 07/10/2034 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.885 | Annual | 07/12/2034 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.850 | Annual | 08/05/2034 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.795 | Annual | 08/06/2034 | 100 | (1) | 0 | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.645 | Annual | 08/07/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.715 | Annual | 08/07/2034 | 100 | (1) | 0 | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.679 | Annual | 08/13/2034 | 100 | 0 | (1) | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.569 | Annual | 08/14/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.586 | Annual | 08/19/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.532 | Annual | 08/20/2034 | 100 | 0 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.550 | Annual | 08/21/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.558 | Annual | 08/21/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.613 | Annual | 08/22/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.555 | Annual | 08/28/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.565 | Annual | 08/28/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.599 | Annual | 08/28/2034 | 100 | 0 | 0 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.600 | Annual | 08/28/2034 | 100 | (1) | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.611 | Annual | 08/28/2034 | 100 | (1) | 1 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.643 | Annual | 08/28/2034 | 100 | 0 | 0 | 0 | 0 |

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------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.514 | Annual | 09/04/2034 | 100 | 0 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.525 | Annual | 09/04/2034 | 100 | 0 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.232 | Annual | 09/10/2034 | 50 | 0 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.280 | Annual | 09/16/2034 | 100 | (1) | 4 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.231 | Annual | 09/18/2034 | 100 | 0 | 3 | 3 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.248 | Annual | 09/18/2034 | 100 | 0 | 3 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.450 | Annual | 10/11/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.375 | Annual | 10/15/2034 | 100 | 0 | (3) | (3) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.385 | Annual | 10/17/2034 | 100 | 0 | (3) | (3) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.395 | Annual | 10/17/2034 | 100 | 0 | (3) | (3) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.446 | Annual | 10/23/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.463 | Annual | 10/23/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.481 | Annual | 10/29/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.465 | Annual | 10/30/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.485 | Annual | 10/30/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.495 | Annual | 10/30/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.455 | Annual | 11/01/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.470 | Annual | 11/01/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.435 | Annual | 11/05/2034 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.535 | Annual | 11/06/2034 | 200 | (1) | (2) | (3) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.860 | Annual | 11/14/2034 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.793 | Annual | 11/19/2034 | 100 | (1) | 2 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/18/2034 | 10 | 0 | 0 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 4.015 | Annual | 12/30/2034 | 100 | 0 | 3 | 3 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.933 | Annual | 01/06/2035 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.840 | Annual | 01/08/2035 | 100 | 0 | 1 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 01/08/2035 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.896 | Annual | 01/08/2035 | 100 | 0 | 2 | 2 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.880 | Annual | 01/13/2035 | 100 | 0 | 2 | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.890 | Annual | 03/03/2035 | 50 | 0 | (1) | (1) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.908 | Annual | 03/04/2035 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.874 | Annual | 03/05/2035 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.905 | Annual | 03/12/2035 | 100 | 0 | (2) | (2) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.975 | Annual | 03/21/2035 | 100 | 0 | (3) | (3) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.930 | Annual | 03/24/2035 | 200 | (1) | (3) | (4) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.884 | Annual | 03/25/2035 | 100 | 0 | (2) | (2) | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 05/07/2035 | 100 | (1) | 2 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.551 | Annual | 09/17/2035 | 100 | 0 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 09/17/2035 | 1000 | (9) | 1 | (8) | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.910 | Semi-Annual | 10/17/2049 | 100 | (22) | 59 | 37 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.895 | Semi-Annual | 10/18/2049 | 100 | (21) | 58 | 37 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.368 | Annual | 11/15/2049 | 140 | 0 | 15 | 15 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.464 | Annual | 11/15/2049 | 140 | 0 | 12 | 12 | 0 |

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------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.250 | Semi-Annual | 12/11/2049 |  | 900 | (269) | 547 | 278 | 2 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 01/15/2050 |  | 100 | (24) | 60 | 36 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.625 | Semi-Annual | 01/16/2050 |  | 100 | (15) | 57 | 42 | 0 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 01/22/2050 |  | 500 | (89) | 288 | 199 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.625 | Semi-Annual | 02/03/2050 |  | 300 | (44) | 169 | 125 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 2.250 | Semi-Annual | 03/12/2050 |  | 600 | (183) | 373 | 190 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Semi-Annual | 12/16/2050 |  | 400 | 38 | 153 | 191 | 1 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.491 | Semi-Annual | 01/21/2051 |  | 100 | (1) | (44) | (45) | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 1.590 | Semi-Annual | 02/09/2051 |  | 900 | (7) | (381) | (388) | 0 | (2) |
| Receive | 1-Day USD-SOFR Compounded-OIS | 1.785 | Semi-Annual | 08/12/2051 |  | 100 | (1) | 41 | 40 | 0 | 0 |
| Pay | 1-Day USD-SOFR Compounded-OIS | 3.370 | Annual | 07/12/2053 |  | 100 | (1) | (9) | (10) | 0 | 0 |
| Receive<sup>(6)</sup> | 1-Day USD-SOFR Compounded-OIS | 3.925 | Annual | 11/15/2053 |  | 304 | (3) | 4 | 1 | 1 | 0 |
| Receive | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | 09/17/2055 |  | 500 | 49 | (11) | 38 | 2 | 0 |
| Pay | 1-Year BRL-CDI | 9.874 | Maturity | 01/02/2026 | BRL | 500 | 0 | (5) | (5) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 9.899 | Maturity | 01/02/2026 |  | 200 | 0 | (2) | (2) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 9.939 | Maturity | 01/02/2026 |  | 400 | 0 | (4) | (4) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.052 | Maturity | 01/02/2026 |  | 1000 | 0 | (10) | (10) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.085 | Maturity | 01/02/2026 |  | 900 | 0 | (9) | (9) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.105 | Maturity | 01/02/2026 |  | 900 | 0 | (9) | (9) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 9.998 | Maturity | 01/04/2027 |  | 700 | 0 | (11) | (11) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.037 | Maturity | 01/04/2027 |  | 200 | 0 | (3) | (3) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.041 | Maturity | 01/04/2027 |  | 800 | 0 | (12) | (12) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.072 | Maturity | 01/04/2027 |  | 400 | 0 | (5) | (5) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.090 | Maturity | 01/04/2027 |  | 1500 | 0 | (22) | (22) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.098 | Maturity | 01/04/2027 |  | 1190 | 0 | (15) | (15) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.138 | Maturity | 01/04/2027 |  | 400 | 0 | (6) | (6) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.165 | Maturity | 01/04/2027 |  | 610 | 0 | (7) | (7) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.170 | Maturity | 01/04/2027 |  | 1010 | 0 | (12) | (12) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.183 | Maturity | 01/04/2027 |  | 1810 | 0 | (22) | (22) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.203 | Maturity | 01/04/2027 |  | 1410 | 0 | (17) | (17) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.210 | Maturity | 01/04/2027 |  | 200 | 0 | (2) | (2) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.256 | Maturity | 01/04/2027 |  | 1410 | 0 | (17) | (17) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 10.328 | Maturity | 01/04/2027 |  | 1040 | 0 | (12) | (12) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 11.250 | Maturity | 01/04/2027 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 11.290 | Maturity | 01/04/2027 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 11.746 | Maturity | 01/04/2027 |  | 100 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 11.901 | Maturity | 01/04/2027 |  | 300 | 0 | (2) | (2) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.927 | Maturity | 01/04/2027 |  | 1600 | 0 | (1) | (1) | 0 | (1) |
| Pay | 1-Year BRL-CDI | 14.009 | Maturity | 01/04/2027 |  | 1100 | 0 | (1) | (1) | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.291 | Maturity | 01/02/2029 |  | 1000 | 0 | 0 | 0 | 0 | 0 |
| Pay | 1-Year BRL-CDI | 13.354 | Maturity | 01/02/2029 |  | 2200 | 0 | 0 | 0 | 0 | 0 |
| Pay | 3-Month NZD-BBR | 4.750 | Semi-Annual | 06/19/2029 | NZD | 300 | 2 | 11 | 13 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.410 | Quarterly | 07/31/2028 | ZAR | 400 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.415 | Quarterly | 07/31/2028 |  | 400 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.420 | Quarterly | 07/31/2028 |  | 1300 | 0 | 3 | 3 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.428 | Quarterly | 07/31/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.426 | Quarterly | 08/01/2028 |  | 500 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.460 | Quarterly | 08/01/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.460 | Quarterly | 08/02/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.464 | Quarterly | 08/02/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.550 | Quarterly | 08/03/2028 |  | 900 | 0 | 3 | 3 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.380 | Quarterly | 08/04/2028 |  | 400 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.410 | Quarterly | 08/04/2028 |  | 1100 | 0 | 3 | 3 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.415 | Quarterly | 08/04/2028 |  | 400 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.421 | Quarterly | 08/04/2028 |  | 500 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.543 | Quarterly | 08/04/2028 |  | 500 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.360 | Quarterly | 08/07/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.400 | Quarterly | 08/07/2028 |  | 900 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.410 | Quarterly | 08/07/2028 |  | 200 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.000 | Quarterly | 01/03/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.001 | Quarterly | 01/06/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.010 | Quarterly | 01/07/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.030 | Quarterly | 01/07/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.053 | Quarterly | 01/07/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.058 | Quarterly | 01/07/2031 |  | 300 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.063 | Quarterly | 01/08/2031 |  | 800 | 0 | 2 | 2 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.080 | Quarterly | 01/08/2031 |  | 400 | 0 | 1 | 1 | 0 | 0 |
| Pay | 3-Month ZAR-JIBAR | 8.203 | Quarterly | 01/10/2031 |  | 1400 | 0 | 4 | 4 | 0 | 0 |
| Pay | 6-Month AUD-BBR-BBSW | 2.750 | Semi-Annual | 06/17/2026 | AUD | 5080 | 483 | (517) | (34) | 0 | 0 |
| Receive | 6-Month AUD-BBR-BBSW | 3.000 | Semi-Annual | 03/21/2027 |  | 80 | (9) | 10 | 1 | 0 | 0 |

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<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

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| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pay | Pay | 6-Month AUD-BBR-BBSW | 4.000 | Semi-Annual | 09/18/2029 |  | 2200 |  | 23 |  | (11) |  | 12 |  | 2 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/20/2033 |  | 1300 |  | (3) |  | 26 |  | 23 |  | 4 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 03/20/2034 |  | 600 |  | (2) |  | 12 |  | 10 |  | 2 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 09/18/2034 |  | 400 |  | 5 |  | 2 |  | 7 |  | 1 |  | 0 |
| Pay | Pay | 6-Month AUD-BBR-BBSW | 4.500 | Semi-Annual | 06/18/2035 |  | 2800 |  | 39 |  | 4 |  | 43 |  | 10 |  | 0 |
| Pay | Pay | 6-Month CLP-CHILIBOR | 4.000 | Semi-Annual | 09/17/2030 |  | 1400 |  | 14 |  | (8) |  | 6 |  | 2 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 3.370 | Annual | 10/09/2028 | EUR | 100 |  | 0 |  | 6 |  | 6 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 3.450 | Annual | 10/20/2028 |  | 100 |  | 0 |  | 7 |  | 7 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.770 | Annual | 04/16/2029 |  | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.860 | Annual | 04/24/2029 |  | 100 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.780 | Annual | 05/02/2029 |  | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.827 | Annual | 05/06/2029 |  | 100 |  | 0 |  | 2 |  | 2 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.300 | Annual | 09/25/2029 |  | 100 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.360 | Annual | 10/07/2029 |  | 100 |  | 0 |  | (2) |  | (2) |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.400 | Annual | 04/09/2030 |  | 100 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
| Pay<sup>(6)</sup> | Pay<sup>(6)</sup> | 6-Month EUR-EURIBOR | 2.500 | Annual | 03/18/2031 |  | 5920 |  | 26 |  | (8) |  | 18 |  | 10 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 2.000 | Annual | 09/21/2032 |  | 680 |  | 8 |  | (34) |  | (26) |  | 2 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 3.300 | Annual | 10/03/2033 |  | 100 |  | 0 |  | 9 |  | 9 |  | 0 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.510 | Annual | 04/09/2035 |  | 100 |  | 0 |  | 1 |  | 1 |  | 0 |  | (1) |
| Receive | Receive | 6-Month EUR-EURIBOR | 2.530 | Annual | 04/23/2035 |  | 100 |  | (1) |  | 2 |  | 1 |  | 0 |  | (1) |
| Pay<sup>(6)</sup> | Pay<sup>(6)</sup> | 6-Month EUR-EURIBOR | 2.750 | Annual | 03/18/2036 |  | 200 |  | 0 |  | 0 |  | 0 |  | 1 |  | 0 |
| Receive<sup>(6)</sup> | Receive<sup>(6)</sup> | 6-Month EUR-EURIBOR | 0.830 | Annual | 12/09/2052 |  | 1500 |  | 9 |  | 186 |  | 195 |  | 0 |  | (1) |
| Receive<sup>(6)</sup> | Receive<sup>(6)</sup> | 6-Month EUR-EURIBOR | 3.000 | Annual | 03/18/2056 |  | 920 |  | (6) |  | (11) |  | (17) |  | 0 |  | (7) |
| Pay | Pay | 28-Day MXN-TIIE | 9.020 | Lunar | 12/17/2029 | MXN | 900 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Pay | Pay | 28-Day MXN-TIIE | 8.990 | Lunar | 12/18/2029 |  | 700 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Pay | Pay | 28-Day MXN-TIIE | 9.135 | Lunar | 12/27/2029 |  | 900 |  | 0 |  | 3 |  | 3 |  | 0 |  | 0 |
| Pay | Pay | 28-Day MXN-TIIE | 9.150 | Lunar | 12/31/2029 |  | 1100 |  | 0 |  | 4 |  | 4 |  | 0 |  | 0 |
| Pay | Pay | 28-Day MXN-TIIE | 9.108 | Lunar | 03/13/2030 |  | 2200 |  | 0 |  | 9 |  | 9 |  | 0 |  | 0 |
| Pay | Pay | CAONREPO | 3.750 | Semi-Annual | 12/20/2025 | CAD | 1200 |  | (20) |  | 25 |  | 5 |  | 0 |  | 0 |
| Pay | Pay | UKRPI | 4.000 | Maturity | 09/15/2031 | GBP | 100 |  | 0 |  | (14) |  | (14) |  | 0 |  | 0 |
| Pay | Pay | UKRPI | 4.140 | Maturity | 10/15/2031 |  | 100 |  | 0 |  | (12) |  | (12) |  | 1 |  | 0 |
| Pay | Pay | UKRPI | 4.250 | Maturity | 11/15/2031 |  | 100 |  | (1) |  | (8) |  | (9) |  | 1 |  | 0 |
|  |  |  |  |  |  |  |  | $(354) | (354) | $2295 | 2295 | $1941 | 1941 | $63 | 63 | $(39) | (39) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**118** | **118** | $**2355** | **2355** | $**2473** | **2473** | $**67** | **67** | $**(42)** | **(42)** |
| **(l)** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Securities with an aggregate market value of $868 and cash of $2,529 have been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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>(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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. |
| <sup>(7)</sup> | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. | Unsettled variation margin liability of $(2) for closed swap agreements is outstanding at period end. |

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<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(m)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** |
|  |  |  |  |  | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Received | Currency to<br>be Received | Asset | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 10/2025  | 1931 | $2253 | 2253 | $0 | $(15) |
|  |  | 10/2025  | $11 | 17 | 17 | 0 | 0 |
|  |  | 10/2025  | 724 | 1008 | 1008 | 0 | 0 |
|  |  | 11/2025  | 17 | $11 | 11 | 0 | 0 |
|  |  | 11/2025  | 1006 | 724 | 724 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 10/2025  | 42524 | 284 | 284 | 0 | (4) |
|  |  | 10/2025  | $20 | 67 | 67 | 0 | 0 |
|  |  | 10/2025  | 54 | 4756 | 4756 | 0 | 0 |
|  |  | 10/2025  | 17 | 2482 | 2482 | 0 | 0 |
|  |  | 10/2025  | 30 | 41679 | 41679 | 0 | 0 |
|  |  | 10/2025  | 21 | 36 | 36 | 0 | 0 |
|  |  | 10/2025  | 10 | 36 | 36 | 0 | 0 |
|  |  | 11/2025  | 36 | $21 | 21 | 0 | 0 |
|  |  | 11/2025  | $10 | 33 | 33 | 0 | 0 |
|  |  | 11/2025  | 284 | 42377 | 42377 | 4 | 0 |
|  |  | 12/2025  | 133 | 2483 | 2483 | 2 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 10/2025  | 2383 | $448 | 448 | 0 | 0 |
|  |  | 10/2025  | 774 | 109 | 109 | 0 | 0 |
|  |  | 10/2025  | 2903360 | 175 | 175 | 2 | 0 |
|  |  | 10/2025  | 4889 | 55 | 55 | 1 | 0 |
|  |  | 10/2025  | 49266 | 332 | 332 | 0 | (2) |
|  |  | 10/2025  | 97128 | 70 | 70 | 1 | 0 |
|  |  | 10/2025  | 844 | 20 | 20 | 0 | 0 |
|  |  | 10/2025  | 8262 | 275 | 275 | 4 | 0 |
|  |  | 10/2025  | $440 | 2383 | 2383 | 8 | 0 |
|  |  | 10/2025  | 89 | 76 | 76 | 0 | 0 |
|  |  | 10/2025  | 203 | 3346892 | 3346892 | 0 | (2) |
|  |  | 10/2025  | 175 | 242228 | 242228 | 0 | (3) |
|  |  | 10/2025  | 108 | 391 | 391 | 0 | 0 |
|  |  | 11/2025  | 668455 | $40 | 40 | 0 | 0 |
|  |  | 11/2025  | 3560 | 40 | 40 | 0 | 0 |
|  |  | 11/2025  | 28036 | 20 | 20 | 0 | 0 |
|  |  | 11/2025  | $30 | 101 | 101 | 1 | 0 |
|  |  | 11/2025  | 332 | 49095 | 49095 | 2 | 0 |
|  |  | 12/2025  | 609 | $20 | 20 | 0 | 0 |
|  |  | 12/2025  | $52 | 868619 | 868619 | 0 | 0 |
|  |  | 12/2025  | 133 | 2533 | 2533 | 4 | 0 |
|  |  | 05/2026  | 15 | 5 | 5 | 0 | 0 |
|  |  | 06/2026  | 11 | 3 | 3 | 0 | 0 |
|  |  | 07/2026  | 7 | 2 | 2 | 0 | 0 |
|  |  | 06/2027  | 5 | 2 | 2 | 0 | 0 |
|  |  | 05/2029  | 23 | $80 | 80 | 3 | 0 |
|  |  | 07/2029  | 3 | 10 | 10 | 0 | 0 |
|  |  | 05/2030  | 17 | 59 | 59 | 2 | 0 |
|  |  | 08/2030  | 4 | 13 | 13 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 10/2025  | 84 | 105 | 105 | 0 | 0 |
|  |  | 10/2025  | 4 | 0 | 0 | 0 | 0 |
|  |  | 10/2025  | 4518 | 149 | 149 | 1 | 0 |
|  |  | 10/2025  | $44 | 35 | 35 | 0 | 0 |
|  |  | 10/2025  | 131 | 11588 | 11588 | 0 | (1) |
|  |  | 10/2025  | 40 | 145 | 145 | 0 | 0 |
|  |  | 10/2025  | 445 | 19184 | 19184 | 10 | 0 |
|  |  | 10/2025  | 98 | 1736 | 1736 | 2 | 0 |
|  |  | 11/2025  | 46 | $30 | 30 | 0 | 0 |
|  |  | 11/2025  | $105 | 84 | 84 | 0 | 0 |
|  |  | 11/2025  | 0 | 4 | 4 | 0 | 0 |
|  |  | 11/2025  | 300 | 13098 | 13098 | 3 | 0 |
|  |  | 11/2025  | 191 | $11 | 11 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 10/2025  | $6 | 11 | 11 | 0 | 0 |
|  |  | 11/2025  | 11 | $6 | 6 | 0 | 0 |
|  |  | 12/2025  | 2974 | 156 | 156 | 0 | (5) |
|  |  | 12/2025  | 2219 | 621 | 621 | 0 | (17) |
|  |  | 02/2026  | 171 | 49 | 49 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 10/2025  | 472 | 312 | 312 | 1 | (1) |
|  |  | 10/2025  | 8728 | 1641 | 1641 | 1 | 0 |
|  |  | 10/2025  | 2718 | 383 | 383 | 1 | 0 |
|  |  | 10/2025  | 598 | 699 | 699 | 0 | (3) |
|  |  | 10/2025  | 111 | 151 | 151 | 2 | 0 |
|  |  | 10/2025  | 1696117 | 102 | 102 | 1 | 0 |
|  |  | 10/2025  | 37422 | 421 | 421 | 0 | 0 |
|  |  | 10/2025  | 364 | 36 | 36 | 0 | 0 |
|  |  | 10/2025  | 282 | 220 | 220 | 1 | 0 |
|  |  | 10/2025  | 16499 | 553 | 553 | 11 | 0 |
|  |  | 10/2025  | $1579 | 8728 | 8728 | 61 | 0 |
|  |  | 10/2025  | 130 | 96 | 96 | 0 | (1) |
|  |  | 10/2025  | 97 | 1588517 | 1588517 | 0 | (1) |
|  |  | 10/2025  | 229 | 20111 | 20111 | 0 | (3) |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 10/2025  | 61 | 575 | 1 | 0 |
|  | 10/2025  | 122 | 3725 | 0 | 0 |
|  | 10/2025  | 495 | $29 | 0 | 0 |
|  | 11/2025  | $10 | 34 | 0 | 0 |
|  | 11/2025  | 421 | 37499 | 0 | 0 |
|  | 11/2025  | 36 | 363 | 0 | 0 |
|  | 12/2025  | 2486 | $82 | 0 | 0 |
|  | 12/2025  | $53 | 897058 | 0 | 0 |
|  | 01/2026  | 219 | $62 | 0 | (1) |
|  | 01/2026  | 1212 | 40 | 0 | 0 |
|  | 02/2026  | 220 | 60 | 0 | (3) |
|  | 03/2026  | 304 | 86 | 0 | (1) |
|  | 08/2026  | 301 | 83 | 0 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; DUB | 10/2025  | 1659 | 233 | 1 | 0 |
|  | 10/2025  | 821263 | 50 | 1 | 0 |
|  | 10/2025  | 7576 | 85 | 0 | 0 |
|  | 10/2025  | 57189 | 41 | 1 | 0 |
|  | 10/2025  | 47 | 28 | 0 | 0 |
|  | 10/2025  | 474 | 370 | 2 | 0 |
|  | 10/2025  | $209 | 715 | 7 | 0 |
|  | 10/2025  | 114 | 10044 | 0 | (1) |
|  | 11/2025  | 715 | $209 | 0 | (7) |
|  | 11/2025  | 885 | 10 | 0 | 0 |
|  | 11/2025  | $85 | 7591 | 0 | 0 |
|  | 11/2025  | 218 | $12 | 0 | 0 |
|  | 02/2026  | 206 | 58 | 0 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | 10/2025  | 841 | 545 | 0 | (11) |
|  | 10/2025  | 15 | 19 | 0 | 0 |
|  | 10/2025  | 724 | 102 | 0 | 0 |
|  | 10/2025  | $816 | 1250 | 11 | 0 |
|  | 10/2025  | 3037 | 2599 | 15 | 0 |
|  | 10/2025  | 217 | 19173 | 0 | (2) |
|  | 10/2025  | 817 | 120169 | 0 | (5) |
|  | 10/2025  | 106 | 388 | 0 | 0 |
|  | 10/2025  | 1107 | 1425 | 0 | (2) |
|  | 11/2025  | 1250 | $817 | 0 | (11) |
|  | 11/2025  | 2599 | 3043 | 0 | (15) |
|  | 11/2025  | 755 | 206 | 0 | (12) |
|  | 11/2025  | 1422 | 1107 | 2 | 0 |
|  | 11/2025  | $19 | 15 | 0 | 0 |
|  | 12/2025  | 2725 | $143 | 0 | (5) |
|  | 12/2025  | $132 | 2493 | 4 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | 10/2025  | 11148 | $2088 | 0 | (7) |
|  | 10/2025  | 8 | 10 | 0 | 0 |
|  | 10/2025  | 57 | 8 | 0 | 0 |
|  | 10/2025  | 874807 | 52 | 0 | 0 |
|  | 10/2025  | 97193 | 69 | 0 | (1) |
|  | 10/2025  | 2260 | 120 | 0 | (3) |
|  | 10/2025  | 13 | 10 | 0 | 0 |
|  | 10/2025  | $2096 | 11148 | 0 | (2) |
|  | 10/2025  | 50 | 829267 | 0 | (1) |
|  | 10/2025  | 62 | 5464 | 0 | (1) |
|  | 10/2025  | 69 | 97224 | 0 | 0 |
|  | 10/2025  | 190 | 689 | 0 | 0 |
|  | 10/2025  | 8 | 246 | 0 | 0 |
|  | 11/2025  | 10 | 33 | 0 | 0 |
|  | 11/2025  | 17 | 750 | 0 | 0 |
|  | 12/2025  | 2088 | 11307 | 7 | 0 |
|  | 12/2025  | 52 | 861381 | 0 | 0 |
|  | 04/2026  | 2300 | $390 | 0 | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | 10/2025  | 659 | 477 | 3 | 0 |
|  | 10/2025  | 1719156 | 103 | 0 | 0 |
|  | 10/2025  | 98985 | 71 | 1 | 0 |
|  | 10/2025  | 51 | 40 | 0 | 0 |
|  | 10/2025  | 1065 | 25 | 0 | 0 |
|  | 10/2025  | $53 | 45 | 0 | 0 |
|  | 10/2025  | 185 | 3073289 | 0 | (1) |
|  | 10/2025  | 30 | 100 | 0 | 0 |
|  | 10/2025  | 26 | 96 | 0 | 0 |
|  | 10/2025  | 67 | 2859 | 2 | 0 |
|  | 10/2025  | 10 | 296 | 0 | 0 |
|  | 10/2025  | 22 | 392 | 1 | 0 |
|  | 11/2025  | 33 | $10 | 0 | 0 |
|  | 11/2025  | 205 | 12 | 0 | 0 |
|  | 04/2026  | 3600 | 607 | 0 | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | 10/2025  | 8 | 10 | 0 | 0 |
|  | 10/2025  | 844 | 119 | 0 | 0 |
|  | 10/2025  | 288 | 341 | 3 | 0 |
|  | 10/2025  | 83198 | 5 | 0 | 0 |
|  | 10/2025  | 24417 | 164 | 0 | (1) |
|  | 10/2025  | 278417 | 200 | 1 | 0 |
|  | 10/2025  | 4 | 0 | 0 | 0 |
|  | 10/2025  | 674 | 70 | 0 | (1) |
|  | 10/2025  | 606 | 473 | 3 | 0 |
|  | 10/2025  | $101 | 80 | 0 | 0 |
|  | 10/2025  | 125 | 892 | 0 | 0 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | 10/2025  | 10/2025  |  | 114 | 114 | 114 | EUR | 97 | 97 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 323 | 323 | 323 | GBP | 239 | 239 |  | 0 | 0 |  | (2) | (2) |
|  |  | 10/2025  | 10/2025  |  | 12 | 12 | 12 | JPY | 1765 | 1765 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 143 | 143 | 143 | KRW | 199745 | 199745 |  | 0 | 0 |  | (1) | (1) |
|  |  | 10/2025  | 10/2025  |  | 38 | 38 | 38 | THB | 1225 | 1225 |  | 0 | 0 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  | CNH | 890 | 890 | 890 | $ | 125 | 125 |  | 0 | 0 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  | $ | $149 | 149 | 149 | GBP | 111 | 111 |  | 0 | 0 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  |  | 282 | 282 | 282 | JPY | 41744 | 41744 |  | 1 | 1 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  |  | 0 | 0 | 0 | NOK | 4 | 4 |  | 0 | 0 |  | 0 | 0 |
|  |  | 12/2025  | 12/2025  |  | 111 | 111 | 111 | MXN | 2055 | 2055 |  | 1 | 1 |  | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MYI | &nbsp;&nbsp;&nbsp;&nbsp; MYI | 10/2025  | 10/2025  | CNH | 853 | 853 | 853 | $ | 120 | 120 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | IDR | 350772 | 350772 | 350772 |  | 21 | 21 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | JPY | 57678 | 57678 | 57678 |  | 386 | 386 |  | 0 | 0 |  | (4) | (4) |
|  |  | 10/2025  | 10/2025  | $ | $74 | 74 | 74 | JPY | 10975 | 10975 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 59 | 59 | 59 | PLN | 212 | 212 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 67 | 67 | 67 | TWD | 2005 | 2005 |  | 0 | 0 |  | (1) | (1) |
|  |  | 11/2025  | 11/2025  |  | 386 | 386 | 386 | JPY | 57480 | 57480 |  | 4 | 4 |  | 0 | 0 |
|  |  | 12/2025  | 12/2025  | TWD | 1992 | 1992 | 1992 | $ | 67 | 67 |  | 1 | 1 |  | 0 | 0 |
|  |  | 12/2025  | 12/2025  | $ | $174 | 174 | 174 | MXN | 3291 | 3291 |  | 4 | 4 |  | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | 10/2025  | 10/2025  | KRW | 131107 | 131107 | 131107 | $ | 94 | 94 |  | 1 | 1 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | $ | $45 | 45 | 45 | IDR | 744813 | 744813 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 50 | 50 | 50 | TRY | 2172 | 2172 |  | 1 | 1 |  | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 10/2025  | 10/2025  | CNH | 620 | 620 | 620 | $ | 87 | 87 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | IDR | 963083 | 963083 | 963083 |  | 58 | 58 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | INR | 5683 | 5683 | 5683 |  | 64 | 64 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | TWD | 6342 | 6342 | 6342 |  | 214 | 214 |  | 6 | 6 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | $ | $3661 | 3661 | 3661 | GBP | 2737 | 2737 |  | 20 | 20 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 50 | 50 | 50 | IDR | 826343 | 826343 |  | 0 | 0 |  | (1) | (1) |
|  |  | 10/2025  | 10/2025  |  | 350 | 350 | 350 | INR | 30912 | 30912 |  | 0 | 0 |  | (2) | (2) |
|  |  | 10/2025  | 10/2025  |  | 382 | 382 | 382 | JPY | 56189 | 56189 |  | 0 | 0 |  | (2) | (2) |
|  |  | 11/2025  | 11/2025  | GBP | 2737 | 2737 | 2737 | $ | 3662 | 3662 |  | 0 | 0 |  | (20) | (20) |
|  |  | 11/2025  | 11/2025  | $ | $54 | 54 | 54 | INR | 4809 | 4809 |  | 0 | 0 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  |  | 1 | 1 | 1 | JPY | 201 | 201 |  | 0 | 0 |  | 0 | 0 |
|  |  | 12/2025  | 12/2025  |  | 58 | 58 | 58 | IDR | 965517 | 965517 |  | 0 | 0 |  | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 10/2025  | 10/2025  | GBP | 2961 | 2961 | 2961 | $ | 3991 | 3991 |  | 9 | 9 |  | 0 | 0 |
|  |  | 12/2025  | 12/2025  | PEN | 210 | 210 | 210 | $ | 57 | 57 |  | 0 | 0 |  | (4) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; UAG | &nbsp;&nbsp;&nbsp;&nbsp; UAG | 10/2025  | 10/2025  | CAD | 347 | 347 | 347 |  | 251 | 251 |  | 2 | 2 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | ILS | 954 | 954 | 954 |  | 286 | 286 |  | 0 | 0 |  | (2) | (2) |
|  |  | 10/2025  | 10/2025  | $ | $21 | 21 | 21 | ILS | 72 | 72 |  | 1 | 1 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 38 | 38 | 38 | NOK | 383 | 383 |  | 1 | 1 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 58 | 58 | 58 | PLN | 212 | 212 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 20 | 20 | 20 | THB | 647 | 647 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  |  | 29 | 29 | 29 | ZAR | 495 | 495 |  | 0 | 0 |  | 0 | 0 |
|  |  | 10/2025  | 10/2025  | ZAR | 495 | 495 | 495 | $ | 29 | 29 |  | 0 | 0 |  | 0 | 0 |
|  |  | 11/2025  | 11/2025  | ILS | 72 | 72 | 72 |  | 21 | 21 |  | 0 | 0 |  | (1) | (1) |
|  |  | 11/2025  | 11/2025  | ZAR | 208 | 208 | 208 |  | 12 | 12 |  | 0 | 0 |  | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | $**247** | **247** | **247** | $**(259)** | **(259)** | **(259)** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE AND SOVEREIGN ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Maturity<br>Date | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| CBK | Israel Government International Bonds  | Israel Government International Bonds  | 1.000% | 1.000% | Quarterly | 06/20/2027 | 0.410% | 0.410% | 0.410% | $100 | (1) | (1) | $2 | 1 | 1 | $0 |
|  | Israel Government International Bonds  | Israel Government International Bonds  | 1.000 | 1.000 | Quarterly | 06/20/2030 | 0.745 | 0.745 | 0.745 | 200 | (2) | (2) | 4 | 2 | 2 | 0 |
| DUB | Petroleos Mexicanos « | Petroleos Mexicanos « | 4.750 | 4.750 | Monthly | 07/06/2026 | —◆ | —◆ | —◆ | 235 | 0 | 0 | 3 | 3 | 3 | 0 |
|  | Petroleos Mexicanos « | Petroleos Mexicanos « | 4.850 | 4.850 | Monthly | 07/06/2026 | —◆ | —◆ | —◆ | 59 | 0 | 0 | 1 | 1 | 1 | 0 |
| GST | Colombia Government International Bonds  | Colombia Government International Bonds  | 1.000 | 1.000 | Quarterly | 12/20/2027 | 1.025 | 1.025 | 1.025 | 100 | (9) | (9) | 9 | 0 | 0 | 0 |
|  | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | 1.000 | 1.000 | Quarterly | 06/20/2026 | 0.872 | 0.872 | 0.872 | 100 | (1) | (1) | 1 | 0 | 0 | 0 |
| JPM | Israel Government International Bonds  | Israel Government International Bonds  | 1.000 | 1.000 | Quarterly | 06/20/2030 | 0.745 | 0.745 | 0.745 | 100 | (1) | (1) | 2 | 1 | 1 | 0 |
| MYC | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | 1.000 | Quarterly | 06/20/2027 | 0.365 | 0.365 | 0.365 | 100 | 0 | 0 | 1 | 1 | 1 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | 1.000 | Quarterly | 06/20/2028 | 0.487 | 0.487 | 0.487 | 100 | (2) | (2) | 4 | 2 | 2 | 0 |
|  | Mexico Government International Bonds  | Mexico Government International Bonds  | 1.000 | 1.000 | Quarterly | 12/20/2028 | 0.543 | 0.543 | 0.543 | 300 | (3) | (3) | 7 | 4 | 4 | 0 |
|  | South Africa Government International Bonds  | South Africa Government International Bonds  | 1.000 | 1.000 | Quarterly | 12/20/2026 | 0.394 | 0.394 | 0.394 | 200 | (9) | (9) | 11 | 2 | 2 | 0 |
|  |  |  |  |  |  |  |  |  |  |  | (28) | (28) | $45 | 17 | 17 | $0 |

---

------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT** **DEFAULT SWAPS ON CREDIT INDEXES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount<sup>(3)</sup> | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| GST | Monthly | 11/17/2059 | 4000 | (86) | 99 | 99 | 13 | 0 |
| MYC | Monthly | 12/16/2072 | 5700 | (2) | 23 | 23 | 21 | 0 |
|  |  |  |  | (88) | $122 | 122 | $34 | $0 |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **(116)** | $**167** | **167** | $**51** | $**0** |
| <sup>◆</sup> | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. |
| <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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |  |
| Cayman Islands | Cayman Islands | 0 | $8006 | $0 | 0 | $ | 8006 |  |
| Ireland | Ireland | 0 | 1201 | 0 | 0 |  | 1201 |  |
| Italy | Italy | 0 | 329 | 0 | 0 |  | 329 |  |
| Jersey, Channel Islands | Jersey, Channel Islands | 0 | 401 | 0 | 0 |  | 401 |  |
| United States | United States | 0 | 21795 | 499 | 499 |  | 22294 |  |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments |  |
| Malaysia | Malaysia | Malaysia | Malaysia | Malaysia | Malaysia | Malaysia | Malaysia |  |
|  | Utilities | 0 | 179 | 0 | 0 |  | 179 |  |
| Mexico | Mexico | Mexico | Mexico | Mexico | Mexico | Mexico | Mexico |  |
|  | Materials | 605 | 0 | 0 | 0 |  | 605 |  |
| Netherlands | Netherlands | Netherlands | Netherlands | Netherlands | Netherlands | Netherlands | Netherlands |  |
|  | Consumer Staples | 0 | 513 | 0 | 0 |  | 513 |  |
| Norway | Norway | Norway | Norway | Norway | Norway | Norway | Norway |  |
|  | Energy | 0 | 583 | 0 | 0 |  | 583 |  |
| Poland | Poland | Poland | Poland | Poland | Poland | Poland | Poland |  |
|  | Energy | 0 | 300 | 0 | 0 |  | 300 |  |
|  | Financials | 0 | 761 | 0 | 0 |  | 761 |  |
| Portugal | Portugal | Portugal | Portugal | Portugal | Portugal | Portugal | Portugal |  |
|  | Utilities | 0 | 325 | 0 | 0 |  | 325 |  |
| Singapore | Singapore | Singapore | Singapore | Singapore | Singapore | Singapore | Singapore |  |
|  | Financials | 0 | 236 | 0 | 0 |  | 236 |  |
|  | Industrials | 0 | 163 | 0 | 0 |  | 163 |  |
| South Africa | South Africa | South Africa | South Africa | South Africa | South Africa | South Africa | South Africa |  |
|  | Financials | 308 | 1090 | 0 | 0 |  | 1398 |  |
|  | Materials | 0 | 618 | 0 | 0 |  | 618 |  |
| South Korea | South Korea | South Korea | South Korea | South Korea | South Korea | South Korea | South Korea |  |
|  | Consumer Discretionary | 0 | 372 | 0 | 0 |  | 372 |  |
|  | Consumer Staples | 0 | 194 | 0 | 0 |  | 194 |  |
|  | Financials | 0 | 206 | 0 | 0 |  | 206 |  |
|  | Information Technology | 0 | 875 | 0 | 0 |  | 875 |  |
| Spain | Spain | Spain | Spain | Spain | Spain | Spain | Spain |  |
|  | Consumer Discretionary | 0 | 893 | 0 | 0 |  | 893 |  |
|  | Energy | 0 | 457 | 0 | 0 |  | 457 |  |
|  | Financials | 0 | 2471 | 0 | 0 |  | 2471 |  |
|  | Industrials | 0 | 311 | 0 | 0 |  | 311 |  |
|  | Utilities | 224 | 173 | 0 | 0 |  | 397 |  |
| Sweden | Sweden | Sweden | Sweden | Sweden | Sweden | Sweden | Sweden |  |
|  | Consumer Discretionary | 0 | 146 | 0 | 0 |  | 146 |  |
|  | Financials | 0 | 213 | 0 | 0 |  | 213 |  |
|  | Industrials | 0 | 372 | 0 | 0 |  | 372 |  |
|  | Information Technology | 0 | 503 | 0 | 0 |  | 503 |  |
| Switzerland | Switzerland | Switzerland | Switzerland | Switzerland | Switzerland | Switzerland | Switzerland |  |
|  | Consumer Staples | 0 | 236 | 0 | 0 |  | 236 |  |
|  | Financials | 0 | 1513 | 0 | 0 |  | 1513 |  |
|  | Health Care | 0 | 2529 | 0 | 0 |  | 2529 |  |
|  | Materials | 0 | 513 | 0 | 0 |  | 513 |  |

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<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Taiwan | Taiwan | Taiwan | Taiwan | Taiwan |
| Information Technology | 0 | 2417 | 0 | 2417 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Communication Services | 0 | 168 | 0 | 168 |
| Consumer Staples | 0 | 3148 | 0 | 3148 |
| Energy | 0 | 615 | 0 | 615 |
| Financials | 0 | 500 | 0 | 500 |
| Industrials | 0 | 220 | 0 | 220 |
| Materials | 0 | 1083 | 0 | 1083 |
| Utilities | 0 | 296 | 0 | 296 |
| United States | United States | United States | United States | United States |
| Communication Services | 5346 | 0 | 14 | 5360 |
| Consumer Discretionary | 2579 | 0 | 0 | 2579 |
| Consumer Staples | 7367 | 0 | 0 | 7367 |
| Energy | 3179 | 0 | 0 | 3179 |
| Financials | 4860 | 0 | 0 | 4860 |
| Health Care | 9248 | 0 | 189 | 9437 |
| Industrials | 1255 | 0 | 0 | 1255 |
| Information Technology | 7729 | 0 | 0 | 7729 |
| Materials | 319 | 0 | 0 | 319 |
| Utilities | 778 | 0 | 0 | 778 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Bermuda | Bermuda | Bermuda | Bermuda | Bermuda |
| Industrials | 0 | 210 | 0 | 210 |
| France | France | France | France | France |
| Banking & Finance | 0 | 702 | 0 | 702 |
| Industrials | 0 | 191 | 0 | 191 |
| Ireland | Ireland | Ireland | Ireland | Ireland |
| Industrials | 0 | 282 | 0 | 282 |
| Italy | Italy | Italy | Italy | Italy |
| Banking & Finance | 0 | 228 | 0 | 228 |
| Japan | Japan | Japan | Japan | Japan |
| Industrials | 0 | 818 | 0 | 818 |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Utilities | 0 | 27 | 0 | 27 |
| Netherlands | Netherlands | Netherlands | Netherlands | Netherlands |
| Utilities | 0 | 248 | 0 | 248 |
| Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia |
| Industrials | 0 | 203 | 0 | 203 |
| Spain | Spain | Spain | Spain | Spain |
| Banking & Finance | 0 | 428 | 0 | 428 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Banking & Finance | 0 | 407 | 0 | 407 |
| Industrials | 0 | 502 | 0 | 502 |
| United States | United States | United States | United States | United States |
| Banking & Finance | 0 | 1028 | 0 | 1028 |
| Industrials | 0 | 3224 | 1970 | 5194 |
| Utilities | 0 | 1286 | 0 | 1286 |
| Venezuela | Venezuela | Venezuela | Venezuela | Venezuela |
| Industrials | 0 | 53 | 0 | 53 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities |
| Ireland | 0 | 2100 | 0 | 2100 |
| United Kingdom | 0 | 3211 | 0 | 3211 |
| United States | 0 | 15767 | 1486 | 17253 |
| Master Limited Partnerships | Master Limited Partnerships | Master Limited Partnerships | Master Limited Partnerships | Master Limited Partnerships |
| United States | United States | United States | United States | United States |
| Energy | 141 | 0 | 0 | 141 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| Illinois | 0 | 16 | 0 | 16 |
| Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks |
| Brazil | Brazil | Brazil | Brazil | Brazil |
| Utilities | 604 | 0 | 0 | 604 |
| South Korea | South Korea | South Korea | South Korea | South Korea |
| Industrials | 0 | 395 | 0 | 395 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Banking & Finance | 0 | 66 | 0 | 66 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| France | France | France | France | France |
| Real Estate | 0 | 179 | 0 | 179 |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |
| Real Estate | 0 | 295 | 0 | 295 |
| Singapore | Singapore | Singapore | Singapore | Singapore |
| Real Estate | 0 | 148 | 0 | 148 |
| United States | United States | United States | United States | United States |
| Real Estate | 9490 | 0 | 0 | 9490 |
| Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues | Sovereign Issues |
| Argentina | 0 | 597 | 0 | 597 |
| Brazil | 0 | 1036 | 0 | 1036 |
| Colombia | 0 | 290 | 0 | 290 |
| Egypt | 0 | 238 | 0 | 238 |
| Japan | 0 | 71 | 0 | 71 |
| Luxembourg | 0 | 508 | 0 | 508 |
| Mexico | 0 | 1151 | 0 | 1151 |
| Peru | 0 | 1238 | 0 | 1238 |
| Romania | 0 | 709 | 0 | 709 |
| South Africa | 0 | 676 | 0 | 676 |

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<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Turkey | 0 | 354 | 0 | 354 |
| Venezuela | 0 | 12 | 0 | 12 |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies |
| United States | 0 | 60125 | 0 | 60125 |
| U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations | U.S. Treasury Obligations |
| United States | 0 | 22678 | 0 | 22678 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 704 | 0 | 704 |
| Nigeria Treasury Bills | 0 | 259 | 0 | 259 |
|  | $60201 | $202796 | $5165 | $268162 |
| **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 |
| Central Funds Used for Cash Management Purposes | $2123 | $0 | $0 | $2123 |
| Total Investments | $62324 | $202796 | $5165 | $270285 |
| **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 | 34 | 77 | 0 | 111 |
| Over the counter | 0 | 294 | 4 | 298 |
|  | $34 | $371 | $4 | $409 |
| **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 | (15) | (49) | 0 | (64) |
| Over the counter | 0 | (259) | 0 | (259) |
|  | $(15) | $(308) | $0 | $(323) |
| Total Financial Derivative Instruments | $19 | $63 | $4 | $86 |
| Totals | $62343 | $202859 | $5169 | $270371 |

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** |
| Category and Subcategory | Beginning<br>Balance<br>at 06/30/2025 | Beginning<br>Balance<br>at 06/30/2025 | Net<br>Purchases<sup>(1)</sup> | Net<br>Sales/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 09/30/2025 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>09/30/2025<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** | **Investments in Securities, at Value** |
| Asset-Backed Securities |  |  |  |  |  |  |  |  |  |  |  |
| United States | United States | $0 | $500 | $0 | $0 | $0 | $(1) | $0 | $0 | $499 | $(1) |
| Loan Participations and Assignments |  |  |  |  |  |  |  |  |  |  |  |
| France | France | 0 | 0 | 0 | 0 | 0 | 0 | 96 | 0 | 96 | 0 |
| Jersey, Channel Islands | Jersey, Channel Islands | 451 | 0 | (251) | 0 | 0 | 0 | 0 | 0 | 200 | 0 |
| United States | United States | 641 | 0 | (12) | 1 | 0 | (1) | 0 | 0 | 629 | (1) |
| Common Stocks |  |  |  |  |  |  |  |  |  |  |  |
| Luxembourg | Luxembourg |  |  |  |  |  |  |  |  |  |  |
| Communication Services |  | 0 | 0 | 0 | 0 | 0 | 34 | 0 | 0 | 34 | 34 |
| Financials |  | 100 | 0 | (101) | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Industrials |  | 45 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 48 | 3 |
| United States | United States |  |  |  |  |  |  |  |  |  |  |
| Communication Services |  | 9 | 0 | (1) | 1 | 0 | 5 | 0 | 0 | 14 | 5 |
| Health Care |  | 189 | 0 | 0 |  | 0 | 0 | 0 | 0 | 189 | 0 |
| Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |
| United Kingdom | United Kingdom |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance |  | 12 | 0 | (11) | 0 | 0 | (1) | 0 | 0 | 0 | 0 |
| United States | United States |  |  |  |  |  |  |  |  |  |  |
| Industrials |  | 0 | 1970 | 0 | 0 | 0 | 0 | 0 | 0 | 1970 | 0 |
| Non-Agency Mortgage-Backed Securities |  |  |  |  |  |  |  |  |  |  |  |
| United States | United States | 0 | 1489 | 0 | 0 | 0 | (3) | 0 | 0 | 1486 | (3) |
|  | $ | 1447 | $3959 | $(376) | $2 | $0 | $37 | $96 | $0 | $5165 | $37 |
| **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** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** |
| Over the counter | $ | 2 | $0 | $0 | $0 | $0 | $2 | $0 | $0 | $4 | $2 |

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------

<br> Schedule of Investments PIMCO Dividend and Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Totals | Totals | $1449 | <br> 3959 | <br> $ | $(376) | $2 | $0 | $39 | $96 | $0 | <br> 0 | <br> $ | <br> 5169 | <br> $ | <br> 39 |
| <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**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:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** |
|  |  |  |  |  |  |  |  |  |  |  | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Ending<br>Balance<br>at 09/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | Input Value(s) | Input Value(s) | Input Value(s) | Weighted Average | Weighted 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** | **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** |
| 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 | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| United States | United States | United States | $499 | 499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | 99.999 | 99.999 | 99.999 |  |  |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments |  |  |  |  |  |  |  |  |  |  |  |  |  |
| France | France | France | 96 | 96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 97.000 | 97.000 | 97.000 |  |  |
| Jersey, Channel Islands | Jersey, Channel Islands | Jersey, Channel Islands | 200 | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 | 100.000 | 100.000 |  |  |
| United States | United States | United States | 619 | 619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.290 | 16.290 | 16.290 |  |  |
|  |  |  | 9 | 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 50.000 | 50.000 | 50.000 |  |  |
|  |  |  | 1 | 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 40.500 | 40.500 | 40.500 |  |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;Luxembourg |
| &nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 34 | 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 7.930 | 7.930 | 7.930 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 48 | 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | $21.667 | 21.667 | 21.667 |  |  |
| United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 14 | 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference Instrument | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference Instrument | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference Instrument | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | 12.000 | 12.000 | 12.000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | 189 | 189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.290 | 16.290 | 16.290 |  |  |
| 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 | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States | United States |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;Industrials | 1970 | 1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 | 100.000 | 100.000 |  |  |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| United States | United States | United States | 987 | 987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proxy pricing | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | &nbsp;&nbsp;&nbsp;&nbsp; Base Price | 97.967 - 100.000 | 97.967 - 100.000 | 97.967 - 100.000 | 98.997 | 98.997 |
|  |  |  | 499 | 499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 99.750 | 99.750 | 99.750 |  |  |
| **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** | **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** | **Financial Derivative Instruments** **- Assets** | **Financial Derivative Instruments** **- Assets** |
|  |  |  | 4 | 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 0.939 - 0.978 | 0.939 - 0.978 | 0.939 - 0.978 | 0.947 | 0.947 |
| Total | Total | Total | $5169 | 5169 |  |  |  |  |  |  |  |  |  |  |  |
| <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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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 September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. |

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<br> Schedule of Investments PIMCO RAE Emerging Markets Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.2% ¤** |  |  |
| **COMMON STOCKS 89.8%**  |  |  |
| **BRAZIL 11.6%**  |  |  |
| **COMMUNICATION SERVICES 0.7%**  |  |  |
| **Telefonica Brasil SA** | 1998260 | $12792 |
| **TIM SA** | 875600 | 3866 |
|  |  | 16658 |
| **CONSUMER DISCRETIONARY 0.8%**  |  |  |
| **Vibra Energia SA** | 4343700 | 20069 |
| **CONSUMER STAPLES 2.7%**  |  |  |
| **Ambev SA** | 12695100 | 28838 |
| **JBS NV (a)** | 2170394 | 32457 |
| **MBRF Global Foods Co. SA** | 1210600 | 4417 |
|  |  | 65712 |
| **FINANCIALS 2.1%**  |  |  |
| **B3 SA - Brasil Bolsa Balcao** | 7334900 | 18467 |
| **Banco do Brasil SA** | 5852280 | 24290 |
| **Banco Santander Brasil SA** | 1493200 | 8249 |
|  |  | 51006 |
| **MATERIALS 5.2%**  |  |  |
| **Cia Siderurgica Nacional SA** | 4129000 | 6129 |
| **CSN Mineracao SA** | 976400 | 1014 |
| **Vale SA** | 10988700 | 118884 |
|  |  | 126027 |
| **UTILITIES 0.1%**  |  |  |
| **CPFL Energia SA** | 304700 | 2256 |
| **Neoenergia SA** | 123600 | 666 |
|  |  | 2922 |
| Total Brazil |  | 282394 |
| **CAYMAN ISLANDS 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.2%**  |  |  |
| **iQIYI, Inc. ADR (a)(c)** | 1816695 | 4651 |
| Total Cayman Islands |  | 4651 |
| **CHILE 1.1%**  |  |  |
| **CONSUMER STAPLES 0.5%**  |  |  |
| **Cencosud SA** | 3662081 | 10422 |
| **Cia Cervecerias Unidas SA** | 150640 | 926 |
|  |  | 11348 |
| **FINANCIALS 0.4%**  |  |  |
| **Banco de Chile** | 51014405 | 7746 |
| **Banco Santander Chile** | 47656972 | 3160 |
|  |  | 10906 |
| **UTILITIES 0.2%**  |  |  |
| **Colbun SA** | 11863415 | 1876 |

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<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Enel** **Chile SA** | 37407651 | 2895 |
|  |  | 4771 |
| Total Chile |  | 27025 |
| **CHINA 27.8%**  |  |  |
| **COMMUNICATION SERVICES 0.7%**  |  |  |
| **China Tower Corp. Ltd. Class H** | 2124800 | 3132 |
| **China United Network Communications Ltd. Class A** | 18355100 | 14218 |
|  |  | 17350 |
| **CONSUMER DISCRETIONARY 4.0%**  |  |  |
| **BAIC Motor Corp. Ltd. Class H** | 15778500 | 4299 |
| **China Yongda Automobiles Services Holdings Ltd.** | 1307500 | 322 |
| **Dongfeng Motor Group Co. Ltd. Class H** | 22032000 | 25463 |
| **Gree Electric Appliances, Inc. of Zhuhai Class A** | 117800 | 658 |
| **Huayu Automotive Systems Co. Ltd. Class A** | 1543037 | 4450 |
| **JD.com, Inc. Class A** | 263400 | 4615 |
| **SAIC Motor Corp. Ltd. Class A** | 1956600 | 4716 |
| **Tianneng Power International Ltd.** | 816000 | 1022 |
| **Topsports International Holdings Ltd.** | 11154000 | 4526 |
| **Vipshop Holdings Ltd. ADR** | 2177206 | 42760 |
| **Zhongsheng Group Holdings Ltd.** | 1686500 | 3152 |
|  |  | 95983 |
| **CONSUMER STAPLES 0.5%**  |  |  |
| **China Feihe Ltd.** | 3086000 | 1585 |
| **Hengan International Group Co. Ltd.** | 400000 | 1304 |
| **Tingyi Cayman Islands Holding Corp.** | 3916000 | 5231 |
| **Uni-President China Holdings Ltd.** | 2141000 | 2263 |
| **Yonghui Superstores Co. Ltd. Class A** | 2422800 | 1598 |
|  |  | 11981 |
| **ENERGY 5.7%**  |  |  |
| **China Petroleum & Chemical Corp. Class H** | 177804400 | 92361 |
| **Guanghui Energy Co. Ltd. Class A** | 1353000 | 959 |
| **PetroChina Co. Ltd. Class H** | 49148000 | 44556 |
|  |  | 137876 |
| **FINANCIALS 9.3%**  |  |  |
| **Bank of China Ltd. Class H** | 41101000 | 22466 |
| **Bank of Guiyang Co. Ltd. Class A** | 1493800 | 1210 |
| **Bank of Zhengzhou Co. Ltd.** | 6449000 | 1094 |
| **China Cinda Asset Management Co. Ltd. Class H** | 29203000 | 5091 |
| **China Construction Bank Corp. Class H** | 13248000 | 12707 |
| **China Minsheng Banking Corp. Ltd. Class H** | 33566500 | 17715 |
| **China Reinsurance Group Corp. Class H** | 7153000 | 1426 |
| **CNPC Capital Co. Ltd. Class A** | 1010400 | 1498 |
| **Huaxia Bank Co. Ltd. Class A** | 1602000 | 1482 |
| **Industrial Bank Co. Ltd. Class A** | 1059000 | 2955 |
| **Lufax Holding Ltd. ADR (a)** | 1033618 | 4196 |
| **Minmetals Capital Co. Ltd. Class A (a)** | 1810700 | 1515 |
| **PICC Property & Casualty Co. Ltd. Class H** | 15408000 | 34758 |
| **Ping An Bank Co. Ltd. Class A** | 2531800 | 4035 |
| **Ping An Insurance Group Co. of China Ltd. Class H** | 15418000 | 104890 |
| **SDIC Capital Co. Ltd. Class A** | 1109100 | 1233 |
| **Shanghai Pudong Development Bank Co. Ltd. Class A** | 4593000 | 7691 |
|  |  | 225962 |
| **HEALTH CARE 0.7%**  |  |  |
| **China Resources Pharmaceutical Group Ltd.** | 4851000 | 2998 |
| **Sinopharm Group Co. Ltd. Class H** | 5678000 | 13355 |
|  |  | 16353 |
| **INDUSTRIALS 2.0%**  |  |  |
| **Bohai Leasing Co. Ltd. Class A (a)** | 1591200 | 786 |
| **China Communications Services Corp. Ltd. Class H** | 9998000 | 5904 |
| **China International Marine Containers Group Co. Ltd. Class H** | 925700 | 988 |
| **China Lesso Group Holdings Ltd. Class L** | 3512000 | 2201 |
| **CITIC Ltd.** | 13054000 | 19120 |
| **COSCO SHIPPING Holdings Co. Ltd. Class H (c)** | 4378500 | 6807 |
| **Fosun International Ltd.** | 1455000 | 1029 |
| **Shanghai Construction Group Co. Ltd. Class A** | 3021200 | 1254 |
| **Shanxi Coal International Energy Group Co. Ltd.** | 769000 | 1058 |
| **Sinopec Engineering Group Co. Ltd. Class H** | 1631500 | 1416 |
| **Sinotruk Hong Kong Ltd.** | 1030500 | 3039 |
| **Xiamen** **ITG Group Corp. Ltd. Class A** | 2943700 | 2558 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Xinte Energy Co. Ltd. Class H** | 720000 | 764 |
| **YUNDA Holding Group Co. Ltd. Class A** | 885600 | 925 |
|  |  | 47849 |
| **INFORMATION TECHNOLOGY 2.7%**  |  |  |
| **AAC Technologies Holdings, Inc.** | 1292500 | 7590 |
| **BOE Technology Group Co. Ltd. Class A** | 7170200 | 4198 |
| **Lenovo Group Ltd.** | 29706000 | 44018 |
| **Tongwei Co. Ltd. Class A** | 1914900 | 6009 |
| **Wingtech Technology Co. Ltd. Class A** | 549600 | 3597 |
|  |  | 65412 |
| **MATERIALS 1.8%**  |  |  |
| **Angang Steel Co. Ltd. Class H (c)** | 7856000 | 2278 |
| **Anhui Conch Cement Co. Ltd. Class H** | 5909000 | 17795 |
| **Baoshan Iron & Steel Co. Ltd. Class A** | 5062200 | 5033 |
| **BBMG Corp. Class H** | 2153000 | 232 |
| **China National Building Material Co. Ltd. Class H** | 14884000 | 10547 |
| **Luxi Chemical Group Co. Ltd. Class A** | 1138800 | 2326 |
| **Sinopec Shanghai Petrochemical Co. Ltd. Class H** | 17450000 | 3052 |
| **Yunnan Copper Co. Ltd. Class A** | 805500 | 1984 |
|  |  | 43247 |
| **REAL ESTATE 0.4%**  |  |  |
| **Gemdale Corp. Class A** | 6663839 | 4072 |
| **Red Star Macalline Group Corp. Ltd. Class H** | 1115000 | 202 |
| **Seazen Group Ltd. (a)** | 14698000 | 4826 |
| **Seazen Holdings Co. Ltd. Class A (a)** | 551100 | 1261 |
| **Shenzhen Overseas Chinese Town Co. Ltd. Class A** | 1496347 | 559 |
|  |  | 10920 |
| Total China |  | 672933 |
| **GREECE 0.9%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Hellenic Telecommunications Organization SA** | 405684 | 7678 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Jumbo SA** | 19911 | 683 |
| **ENERGY 0.2%**  |  |  |
| **HELLENiQ ENERGY Holdings SA (c)** | 180133 | 1783 |
| **Motor Oil Hellas Corinth Refineries SA** | 64294 | 1939 |
|  |  | 3722 |
| **INDUSTRIALS 0.4%**  |  |  |
| **Star Bulk Carriers Corp.** | 534630 | 9939 |
| Total Greece |  | 22022 |
| **HONG KONG 2.0%**  |  |  |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Sun Art Retail Group Ltd.** | 879500 | 211 |
| **FINANCIALS 0.4%**  |  |  |
| **China Taiping Insurance Holdings Co. Ltd.** | 3618800 | 7074 |
| **Far East Horizon Ltd.** | 1391000 | 1228 |
|  |  | 8302 |
| **INDUSTRIALS 0.7%**  |  |  |
| **China Everbright Environment Group Ltd.** | 9874000 | 5634 |
| **Orient Overseas International Ltd.** | 431000 | 6987 |
| **Shanghai Industrial Holdings Ltd.** | 1041000 | 1829 |
| **Shenzhen International Holdings Ltd.** | 3382000 | 3393 |
|  |  | 17843 |
| **MATERIALS 0.1%**  |  |  |
| **China Resources Building Materials Technology Holdings Ltd.** | 4056000 | 943 |
| **UTILITIES 0.8%**  |  |  |
| **Beijing Enterprises Holdings Ltd.** | 369000 | 1576 |
| **Beijing** **Enterprises Water Group Ltd.** | 4090000 | 1257 |
| **Guangdong Investment Ltd.** | 3968000 | 3607 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Kunlun Energy Co. Ltd.** | 15460000 | 13808 |
|  |  | 20248 |
| Total Hong Kong |  | 47547 |
| **INDIA 7.5%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Indus Towers Ltd. (a)** | 1145289 | 4422 |
| **Zee Entertainment Enterprises Ltd.** | 2003378 | 2539 |
|  |  | 6961 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Apollo Tyres Ltd.** | 75431 | 402 |
| **Rajesh Exports Ltd. (a)** | 659874 | 1348 |
|  |  | 1750 |
| **ENERGY 2.5%**  |  |  |
| **Bharat Petroleum Corp. Ltd.** | 1789064 | 6853 |
| **Coal India Ltd.** | 174727 | 768 |
| **Hindustan Petroleum Corp. Ltd.** | 2029724 | 10154 |
| **Indian Oil Corp. Ltd.** | 13117696 | 22154 |
| **Oil & Natural Gas Corp. Ltd.** | 5356843 | 14438 |
| **Oil India Ltd.** | 607263 | 2828 |
| **Petronet LNG Ltd.** | 1367052 | 4294 |
|  |  | 61489 |
| **FINANCIALS 1.5%**  |  |  |
| **Bandhan Bank Ltd.** | 952303 | 1741 |
| **Power Finance Corp. Ltd.** | 3218074 | 14861 |
| **REC Ltd.** | 615419 | 2581 |
| **Sammaan Capital Ltd.** | 9463654 | 17154 |
|  |  | 36337 |
| **MATERIALS 2.8%**  |  |  |
| **Chambal Fertilisers & Chemicals Ltd.** | 441293 | 2539 |
| **Gujarat State Fertilizers & Chemicals Ltd.** | 614247 | 1358 |
| **Jindal Saw Ltd.** | 654737 | 1497 |
| **Jindal Steel Ltd.** | 259677 | 3115 |
| **National Aluminium Co. Ltd.** | 8367544 | 20159 |
| **Vedanta Ltd.** | 7342866 | 38541 |
|  |  | 67209 |
| **UTILITIES 0.3%**  |  |  |
| **GAIL India Ltd.** | 1658902 | 3294 |
| **PTC India Ltd.** | 1402456 | 2632 |
| **Reliance Power Ltd. (a)** | 2125627 | 1062 |
|  |  | 6988 |
| Total India |  | 180734 |
| **INDONESIA 2.4%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **Telkom Indonesia Persero Tbk. PT** | 66889400 | 12316 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **Gudang Garam Tbk. PT** | 1158700 | 972 |
| **Hanjaya Mandala Sampoerna Tbk. PT** | 19459400 | 951 |
| **Indofood Sukses Makmur Tbk. PT** | 2383300 | 1034 |
| **Unilever Indonesia Tbk. PT** | 5804100 | 620 |
|  |  | 3577 |
| **ENERGY 0.7%**  |  |  |
| **Alamtri Resources Indonesia Tbk. PT** | 46720800 | 4743 |
| **Bukit Asam Tbk. PT** | 10997100 | 1552 |
| **Indo Tambangraya Megah Tbk. PT** | 3459000 | 4752 |
| **United Tractors Tbk. PT** | 3772200 | 6066 |
|  |  | 17113 |
| **FINANCIALS 0.5%**  |  |  |
| **Bank Negara Indonesia Persero Tbk. PT** | 12804600 | 3159 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Bank** **Rakyat Indonesia Persero Tbk. PT** | 40796400 | 9562 |
|  |  | 12721 |
| **HEALTH CARE 0.0%**  |  |  |
| **Kalbe Farma Tbk. PT** | 5385600 | 366 |
| **INDUSTRIALS 0.2%**  |  |  |
| **Astra International Tbk. PT** | 15836500 | 5492 |
| **MATERIALS 0.1%**  |  |  |
| **Indocement Tunggal Prakarsa Tbk. PT** | 2820900 | 1106 |
| **UTILITIES 0.2%**  |  |  |
| **Perusahaan Gas Negara Tbk. PT** | 45563100 | 4624 |
| Total Indonesia |  | 57315 |
| **KUWAIT 0.0%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Mobile Telecommunications Co. KSCP** | 192736 | 325 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Humansoft Holding Co. KSC** | 57865 | 470 |
| Total Kuwait |  | 795 |
| **MALAYSIA 0.5%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Genting Bhd.** | 2066200 | 1435 |
| **ENERGY 0.0%**  |  |  |
| **Petronas Dagangan Bhd.** | 83200 | 454 |
| **FINANCIALS 0.1%**  |  |  |
| **Alliance Bank Malaysia Bhd.** | 483400 | 502 |
| **Malayan Banking Bhd.** | 1363300 | 3210 |
|  |  | 3712 |
| **HEALTH CARE 0.2%**  |  |  |
| **Hartalega Holdings Bhd.** | 2293500 | 637 |
| **Kossan Rubber Industries Bhd.** | 2345000 | 657 |
| **Supermax Corp. Bhd. (a)** | 6371080 | 681 |
| **Top Glove Corp. Bhd. (a)** | 23179000 | 3194 |
|  |  | 5169 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Sime Darby Bhd.** | 2748700 | 1490 |
| Total Malaysia |  | 12260 |
| **MEXICO 1.9%**  |  |  |
| **COMMUNICATION SERVICES 1.0%**  |  |  |
| **America Movil SAB de CV Class B** | 20892600 | 21870 |
| **Grupo Televisa SAB** | 3281800 | 1768 |
|  |  | 23638 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Nemak SAB de CV (a)** | 3123100 | 723 |
| **CONSUMER STAPLES 0.6%**  |  |  |
| **Alfa SAB de CV Class A** | 11334207 | 9086 |
| **Arca Continental SAB de CV** | 417100 | 4373 |
| **Gruma SAB de CV Class B** | 65650 | 1219 |
|  |  | 14678 |
| **FINANCIALS 0.2%**  |  |  |
| **Grupo Financiero Banorte SAB de CV Class O** | 127100 | 1280 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Grupo** **Financiero Inbursa SAB de CV Class O** | 775198 | 2132 |
|  |  | 3412 |
| **MATERIALS 0.1%**  |  |  |
| **Alpek SAB de CV (c)** | 1105306 | 600 |
| **Orbia Advance Corp. SAB de CV** | 2887400 | 2792 |
|  |  | 3392 |
| Total Mexico |  | 45843 |
| **PHILIPPINES 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **PLDT, Inc.** | 51265 | 969 |
| **ENERGY 0.1%**  |  |  |
| **Semirara Mining & Power Corp.** | 2317200 | 1401 |
| **INDUSTRIALS 0.1%**  |  |  |
| **DMCI Holdings, Inc.** | 7951200 | 1544 |
| Total Philippines |  | 3914 |
| **POLAND 1.1%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Cyfrowy Polsat SA** | 687366 | 2632 |
| **ENERGY 0.5%**  |  |  |
| **ORLEN SA** | 512545 | 12212 |
| **FINANCIALS 0.3%**  |  |  |
| **Powszechny Zaklad Ubezpieczen SA** | 452096 | 6770 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Asseco Poland SA** | 14328 | 791 |
| **UTILITIES 0.2%**  |  |  |
| **PGE Polska Grupa Energetyczna SA (a)** | 1139819 | 3370 |
| **Tauron Polska Energia SA (a)** | 520500 | 1303 |
|  |  | 4673 |
| Total Poland |  | 27078 |
| **QATAR 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Ooredoo QPSC** | 513756 | 1929 |
| **FINANCIALS 0.1%**  |  |  |
| **Commercial Bank PSQC** | 822802 | 1037 |
| **Qatar National Bank QPSC** | 458404 | 2339 |
|  |  | 3376 |
| Total Qatar |  | 5305 |
| **RUSSIA 0.0%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Mobile TeleSystems PJSC «(a)(c)** | 290070 | 0 |
| **Rostelecom PJSC «(a)(c)** | 341490 | 0 |
| **Sistema AFK PAO «(a)** | 1963160 | 0 |
|  |  | 0 |
| **ENERGY 0.0%**  |  |  |
| **Gazprom PJSC «(a)** | 3725600 | 0 |
| **LUKOIL PJSC «** | 254140 | 0 |
|  |  | 0 |
| **FINANCIALS 0.0%**  |  |  |
| **Sberbank of Russia PJSC «** | 4916745 | 0 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **VTB** **Bank PJSC «** | 4772724 | 0 |
|  |  | 0 |
| **MATERIALS 0.0%**  |  |  |
| **Alrosa PJSC «** | 2122120 | 0 |
| **GMK Norilskiy Nickel PAO «(a)** | 379700 | 0 |
| **Magnitogorsk Iron & Steel Works PJSC «** | 6974129 | 0 |
| **Novolipetsk Steel PJSC «** | 3113725 | 0 |
| **Severstal PAO «** | 339609 | 0 |
|  |  | 0 |
| **UTILITIES 0.0%**  |  |  |
| **Federal Grid Co-Rosseti PJSC «(a)** | 591291707 | 1 |
| **Inter RAO UES PJSC «** | 15264000 | 0 |
| **Unipro PAO «(a)** | 3938000 | 0 |
|  |  | 1 |
| Total Russia |  | 1 |
| **SAUDI ARABIA 0.2%**  |  |  |
| **FINANCIALS 0.0%**  |  |  |
| **Banque Saudi Fransi** | 87397 | 416 |
| **MATERIALS 0.1%**  |  |  |
| **Saudi Basic Industries Corp.** | 108648 | 1783 |
| **Yanbu National Petrochemical Co.** | 98739 | 920 |
|  |  | 2703 |
| **REAL ESTATE 0.0%**  |  |  |
| **Arabian Centres Co.** | 57061 | 345 |
| **UTILITIES 0.1%**  |  |  |
| **Saudi Electricity Co.** | 210811 | 854 |
| Total Saudi Arabia |  | 4318 |
| **SOUTH AFRICA 6.3%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **MTN Group Ltd.** | 817386 | 6878 |
| **MultiChoice Group** | 201773 | 1463 |
| **Telkom SA SOC Ltd.** | 1684650 | 4992 |
|  |  | 13333 |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Motus Holdings Ltd. (c)** | 502365 | 3025 |
| **Woolworths Holdings Ltd.** | 241045 | 702 |
|  |  | 3727 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **SPAR Group Ltd. (a)** | 105062 | 600 |
| **Tiger Brands Ltd.** | 233920 | 4182 |
|  |  | 4782 |
| **ENERGY 0.1%**  |  |  |
| **Exxaro Resources Ltd. (c)** | 168731 | 1760 |
| **Thungela Resources Ltd.** | 172077 | 872 |
|  |  | 2632 |
| **FINANCIALS 1.6%**  |  |  |
| **Absa Group Ltd.** | 226798 | 2380 |
| **Momentum Group Ltd.** | 1690696 | 3210 |
| **Nedbank Group Ltd. (c)** | 1170277 | 14468 |
| **Old Mutual Ltd.** | 9000602 | 6955 |
| **Standard Bank Group Ltd.** | 802587 | 10980 |
|  |  | 37993 |
| **HEALTH CARE 0.1%**  |  |  |
| **Life Healthcare Group Holdings Ltd.** | 2687216 | 1803 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Barloworld Ltd.** | 445016 | 3038 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MATERIALS 3.5%**  |  |  |
| **Impala Platinum Holdings Ltd.** | 1767130 | 22536 |
| **Sappi Ltd.** | 495151 | 663 |
| **Sibanye Stillwater Ltd.** | 12423427 | 35140 |
| **Valterra Platinum Ltd.** | 378210 | 26991 |
|  |  | 85330 |
| Total South Africa |  | 152638 |
| **SOUTH KOREA 11.9%**  |  |  |
| **COMMUNICATION SERVICES 2.0%**  |  |  |
| **KT Corp.** | 660845 | 23819 |
| **LG Uplus Corp.** | 790930 | 8651 |
| **NCSoft Corp.** | 14466 | 2229 |
| **SK Telecom Co. Ltd.** | 331474 | 12849 |
|  |  | 47548 |
| **CONSUMER DISCRETIONARY 1.2%**  |  |  |
| **Hankook Tire & Technology Co. Ltd.** | 92107 | 2517 |
| **Hyundai Mobis Co. Ltd.** | 43332 | 9219 |
| **Kia Corp.** | 53488 | 3839 |
| **LG Electronics, Inc.** | 196154 | 10581 |
| **Lotte Shopping Co. Ltd.** | 60744 | 3067 |
|  |  | 29223 |
| **CONSUMER STAPLES 0.8%**  |  |  |
| **E-MART, Inc.** | 32651 | 1758 |
| **KT&G Corp.** | 140312 | 13366 |
| **LG H&H Co. Ltd.** | 26680 | 5445 |
|  |  | 20569 |
| **ENERGY 0.1%**  |  |  |
| **S-Oil Corp. (a)** | 48629 | 2160 |
| **FINANCIALS 2.3%**  |  |  |
| **BNK Financial Group, Inc.** | 449663 | 4679 |
| **DB Insurance Co. Ltd.** | 108007 | 10674 |
| **Hanwha Life Insurance Co. Ltd.** | 2013361 | 4515 |
| **Hyundai Marine & Fire Insurance Co. Ltd.** | 281345 | 5653 |
| **Samsung Card Co. Ltd.** | 87307 | 3259 |
| **Samsung Fire & Marine Insurance Co. Ltd.** | 23939 | 7706 |
| **Shinhan Financial Group Co. Ltd.** | 229432 | 11568 |
| **Woori Financial Group, Inc.** | 365516 | 6769 |
|  |  | 54823 |
| **INDUSTRIALS 3.8%**  |  |  |
| **CJ Corp.** | 125942 | 16485 |
| **CJ Logistics Corp.** | 16448 | 987 |
| **Daewoo Engineering & Construction Co. Ltd. (a)** | 866370 | 2212 |
| **DL E&C Co. Ltd.** | 126385 | 3784 |
| **Doosan Bobcat, Inc.** | 32153 | 1272 |
| **GS Engineering & Construction Corp.** | 228564 | 3001 |
| **GS Holdings Corp.** | 100883 | 3306 |
| **Hanwha Corp.** | 212343 | 12821 |
| **Hyundai Engineering & Construction Co. Ltd.** | 400104 | 15521 |
| **Hyundai Glovis Co. Ltd.** | 153616 | 18122 |
| **LX International Corp.** | 196764 | 4487 |
| **SK, Inc.** | 69448 | 10401 |
|  |  | 92399 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **LG Display Co. Ltd. (a)** | 745263 | 7652 |
| **MATERIALS 0.5%**  |  |  |
| **Hyundai Steel Co.** | 198788 | 4810 |
| **Kumho Petrochemical Co. Ltd.** | 16005 | 1192 |
| **POSCO Holdings, Inc.** | 35647 | 7007 |
|  |  | 13009 |
| **UTILITIES 0.9%**  |  |  |
| **Korea Electric Power Corp.** | 719654 | 18568 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Korea** **Gas Corp.** | 78846 | 2201 |
|  |  | 20769 |
| Total South Korea |  | 288152 |
| **TAIWAN 6.5%**  |  |  |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **China Motor Corp.** | 771000 | 1613 |
| **Pou Chen Corp.** | 5449000 | 5172 |
|  |  | 6785 |
| **INDUSTRIALS 4.5%**  |  |  |
| **Evergreen Marine Corp. Taiwan Ltd.** | 12416000 | 73127 |
| **Far Eastern New Century Corp.** | 1328000 | 1213 |
| **Wan Hai Lines Ltd.** | 720000 | 1760 |
| **Yang Ming Marine Transport Corp.** | 19036000 | 33202 |
|  |  | 109302 |
| **INFORMATION TECHNOLOGY 1.7%**  |  |  |
| **Catcher Technology Co. Ltd.** | 631000 | 3786 |
| **Compal Electronics, Inc.** | 13261000 | 14167 |
| **FLEXium Interconnect, Inc.** | 948000 | 1944 |
| **General Interface Solution GIS Holding Ltd.** | 590871 | 1221 |
| **Pegatron Corp.** | 5983000 | 13935 |
| **Primax Electronics Ltd.** | 850000 | 2199 |
| **Radiant Opto-Electronics Corp.** | 619000 | 2921 |
| **Supreme Electronics Co. Ltd.** | 344000 | 503 |
| **TPK Holding Co. Ltd.** | 557000 | 724 |
|  |  | 41400 |
| **REAL ESTATE 0.0%**  |  |  |
| **Farglory Land Development Co. Ltd.** | 303000 | 617 |
| Total Taiwan |  | 158104 |
| **THAILAND 6.7%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Sri Trang Agro-Industry PCL** | 5879000 | 2289 |
| **ENERGY 1.3%**  |  |  |
| **IRPC PCL** | 34918800 | 1208 |
| **PTT PCL** | 26708900 | 27406 |
| **Star Petroleum Refining PCL** | 17759800 | 2621 |
|  |  | 31235 |
| **FINANCIALS 4.6%**  |  |  |
| **Bangkok Bank PCL** | 510500 | 2349 |
| **Kasikornbank PCL** | 7645200 | 39544 |
| **Kiatnakin Phatra Bank PCL** | 451300 | 819 |
| **Krung Thai Bank PCL** | 19071600 | 14591 |
| **SCB X PCL** | 8653400 | 34331 |
| **Thai Life Insurance PCL** | 6238500 | 2043 |
| **Thanachart Capital PCL** | 7735804 | 11996 |
| **Tisco Financial Group PCL** | 1904400 | 5995 |
|  |  | 111668 |
| **HEALTH CARE 0.0%**  |  |  |
| **Sri Trang Gloves Thailand PCL** | 2263700 | 508 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Regional Container Lines PCL** | 2542400 | 2079 |
| **MATERIALS 0.5%**  |  |  |
| **Indorama Ventures PCL** | 5937600 | 4111 |
| **PTT Global Chemical PCL** | 10396300 | 8000 |
|  |  | 12111 |
| **REAL ESTATE 0.1%**  |  |  |
| **3BB Internet Infrastructure Fund** | 3228800 | 648 |
| **Land & Houses PCL** | 9961800 | 1329 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Supalai** **PCL** | 3060200 | 1719 |
|  |  | 3696 |
| Total Thailand |  | 163586 |
| **TURKEY 0.3%**  |  |  |
| **FINANCIALS 0.3%**  |  |  |
| **Is Yatirim Menkul Degerler AS** | 7308068 | 7632 |
| Total Turkey |  | 7632 |
| **UNITED ARAB EMIRATES 0.5%**  |  |  |
| **FINANCIALS 0.2%**  |  |  |
| **Dubai Islamic Bank PJSC** | 1714096 | 4470 |
| **REAL ESTATE 0.3%**  |  |  |
| **Emaar Properties PJSC** | 2169738 | 7709 |
| Total United Arab Emirates |  | 12179 |
| Total Common Stocks (Cost $1,877,102) |  | 2176426 |
| **PREFERRED STOCKS 8.9%**  |  |  |
| **BRAZIL 8.8%**  |  |  |
| **BANKING & FINANCE 1.9%**  |  |  |
| **Banco Bradesco SA** | 13654500 | 45384 |
| **INDUSTRIALS 1.7%**  |  |  |
| **Gerdau SA** | 9478600 | 29581 |
| **Metalurgica Gerdau SA** | 5287000 | 9457 |
| **Usinas Siderurgicas de Minas Gerais SA Usiminas** | 2569300 | 2042 |
|  |  | 41080 |
| **UTILITIES 5.2%**  |  |  |
| **Cia Energetica de Minas Gerais** | 7810770 | 16364 |
| **Cia Paranaense de Energia - Copel** | 1557500 | 3769 |
| **Petroleo Brasileiro SA - Petrobras** | 18061300 | 106761 |
|  |  | 126894 |
| Total Brazil |  | 213358 |
| **CHILE 0.1%**  |  |  |
| **INDUSTRIALS 0.1%**  |  |  |
| **Embotelladora Andina SA** | 917087 | 3613 |
| Total Chile |  | 3613 |
| **RUSSIA 0.0%**  |  |  |
| **UTILITIES 0.0%**  |  |  |
| **Bashneft PJSC** « | 31237 | 0 |
| **Transneft PJSC** « | 81000 | 0 |
|  |  | 0 |
| Total Russia |  | 0 |
| Total Preferred Stocks (Cost $222,262) |  | 216972 |
| **REAL ESTATE INVESTMENT TRUSTS 0.4%**  |  |  |
| **MEXICO 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Fibra Uno Administracion SA de CV** | 2107700 | 3106 |
| Total Mexico |  | 3106 |
| **SOUTH AFRICA 0.3%**  |  |  |
| **REAL ESTATE 0.3%**  |  |  |
| **Growthpoint Properties Ltd.** | 7214973 | 6154 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Redefine** **Properties Ltd.** | 3894988 | 1122 |
|  |  | 7276 |
| Total South Africa |  | 7276 |
| Total Real Estate Investment Trusts (Cost $8,540) |  | 10382 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200% (d) | 1804462 | 1804 |
| Total Mutual Funds (Cost $1,804) |  | 1804 |
| Total Short-Term Instruments (Cost $1,804) |  | 1804 |
| Total Investments in Securities (Cost $2,109,708) |  | 2405583 |
| **INVESTMENTS IN AFFILIATES 1.3%**  |  |  |
| **SHORT-TERM INSTRUMENTS 1.3%**  |  |  |
| **MUTUAL FUNDS 0.9%**  |  |  |
| **PIMCO Government Money Market Fund**<br> 4.290% (b)(c)(d) | 21657124 | 21657 |
| Total Mutual Funds (Cost $21,657) |  | 21657 |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.4%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 941411 | 9169 |
| Total Short-Term Instruments (Cost $30,825) |  | 30826 |
| Total Investments in Affiliates (Cost $30,825) |  | 30826 |
| Total Investments 100.5% (Cost $2,140,533) |  | $2436409 |
| **Financial Derivative Instruments (e) 0.0**%(Cost or Premiums, net $0) |  | 8 |
| Other Assets and Liabilities, net (0.5)% |  | (11806) |
| Net Assets 100.0% |  | $2424611 |

---

------

<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(c)** | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $20,385 were out on loan in exchange for $21,658 of cash collateral as of September 30, 2025.**  |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** |
| **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| Mini MSCI Emerging Markets Index December Futures  | 37 | $2515 | 2515 | $0 | $8 | 8 | $0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **0** | **8** | **$** | **0** |
| **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $1,565 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |  |
| Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil |  |
|  | Communication Services | 16658 | $0 | 0 | 0 | 16658 |  |
|  | Consumer Discretionary | 20069 | 0 | 0 | 0 | 20069 |  |
|  | Consumer Staples | 65712 | 0 | 0 | 0 | 65712 |  |
|  | Financials | 51006 | 0 | 0 | 0 | 51006 |  |
|  | Materials | 126027 | 0 | 0 | 0 | 126027 |  |
|  | Utilities | 2922 | 0 | 0 | 0 | 2922 |  |
| Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands |  |
|  | Communication Services | 4651 | 0 | 0 | 0 | 4651 |  |
| Chile | Chile | Chile | Chile | Chile | Chile | Chile |  |
|  | Consumer Staples | 926 | 10422 | 10422 | 0 | 11348 |  |
|  | Financials | 7746 | 3160 | 3160 | 0 | 10906 |  |
|  | Utilities | 1876 | 2895 | 2895 | 0 | 4771 |  |
| China | China | China | China | China | China | China |  |
|  | Communication Services | 0 | 17350 | 17350 | 0 | 17350 |  |
|  | Consumer Discretionary | 42760 | 53223 | 53223 | 0 | 95983 |  |
|  | Consumer Staples | 0 | 11981 | 11981 | 0 | 11981 |  |
|  | Energy | 0 | 137876 | 137876 | 0 | 137876 |  |
|  | Financials | 5290 | 220672 | 220672 | 0 | 225962 |  |
|  | Health Care | 0 | 16353 | 16353 | 0 | 16353 |  |
|  | Industrials | 0 | 47849 | 47849 | 0 | 47849 |  |
|  | Information Technology | 0 | 65412 | 65412 | 0 | 65412 |  |
|  | Materials | 0 | 43247 | 43247 | 0 | 43247 |  |
|  | Real Estate | 202 | 10718 | 10718 | 0 | 10920 |  |
| Greece | Greece | Greece | Greece | Greece | Greece | Greece |  |
|  | Communication Services | 7678 | 0 | 0 | 0 | 7678 |  |
|  | Consumer Discretionary | 683 | 0 | 0 | 0 | 683 |  |
|  | Energy | 1783 | 1939 | 1939 | 0 | 3722 |  |
|  | Industrials | 9939 | 0 | 0 | 0 | 9939 |  |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |  |
|  | Consumer Staples | 0 | 211 | 211 | 0 | 211 |  |
|  | Financials | 1228 | 7074 | 7074 | 0 | 8302 |  |
|  | Industrials | 0 | 17843 | 17843 | 0 | 17843 |  |
|  | Materials | 0 | 943 | 943 | 0 | 943 |  |
|  | Utilities | 0 | 20248 | 20248 | 0 | 20248 |  |
| India | India | India | India | India | India | India |  |
|  | Communication Services | 0 | 6961 | 6961 | 0 | 6961 |  |
|  | Consumer Discretionary | 0 | 1750 | 1750 | 0 | 1750 |  |
|  | Energy | 0 | 61489 | 61489 | 0 | 61489 |  |
|  | Financials | 0 | 36337 | 36337 | 0 | 36337 |  |
|  | Materials | 0 | 67209 | 67209 | 0 | 67209 |  |
|  | Utilities | 0 | 6988 | 6988 | 0 | 6988 |  |

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<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Indonesia | Indonesia | Indonesia | Indonesia | Indonesia |
| Communication Services | 0 | 12316 | 0 | 12316 |
| Consumer Staples | 2543 | 1034 | 0 | 3577 |
| Energy | 0 | 17113 | 0 | 17113 |
| Financials | 0 | 12721 | 0 | 12721 |
| Health Care | 0 | 366 | 0 | 366 |
| Industrials | 0 | 5492 | 0 | 5492 |
| Materials | 0 | 1106 | 0 | 1106 |
| Utilities | 0 | 4624 | 0 | 4624 |
| Kuwait | Kuwait | Kuwait | Kuwait | Kuwait |
| Communication Services | 0 | 325 | 0 | 325 |
| Consumer Discretionary | 470 | 0 | 0 | 470 |
| Malaysia | Malaysia | Malaysia | Malaysia | Malaysia |
| Consumer Discretionary | 0 | 1435 | 0 | 1435 |
| Energy | 0 | 454 | 0 | 454 |
| Financials | 0 | 3712 | 0 | 3712 |
| Health Care | 0 | 5169 | 0 | 5169 |
| Industrials | 0 | 1490 | 0 | 1490 |
| Mexico | Mexico | Mexico | Mexico | Mexico |
| Communication Services | 23638 | 0 | 0 | 23638 |
| Consumer Discretionary | 723 | 0 | 0 | 723 |
| Consumer Staples | 14678 | 0 | 0 | 14678 |
| Financials | 3412 | 0 | 0 | 3412 |
| Materials | 3392 | 0 | 0 | 3392 |
| Philippines | Philippines | Philippines | Philippines | Philippines |
| Communication Services | 0 | 969 | 0 | 969 |
| Energy | 1401 | 0 | 0 | 1401 |
| Industrials | 1544 | 0 | 0 | 1544 |
| Poland | Poland | Poland | Poland | Poland |
| Communication Services | 0 | 2632 | 0 | 2632 |
| Energy | 0 | 12212 | 0 | 12212 |
| Financials | 0 | 6770 | 0 | 6770 |
| Information Technology | 0 | 791 | 0 | 791 |
| Utilities | 0 | 4673 | 0 | 4673 |
| Qatar | Qatar | Qatar | Qatar | Qatar |
| Communication Services | 1929 | 0 | 0 | 1929 |
| Financials | 2339 | 1037 | 0 | 3376 |
| Russia | Russia | Russia | Russia | Russia |
| Utilities | 0 | 0 | 1 | 1 |
| Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia |
| Financials | 416 | 0 | 0 | 416 |
| Materials | 1783 | 920 | 0 | 2703 |
| Real Estate | 0 | 345 | 0 | 345 |
| Utilities | 854 | 0 | 0 | 854 |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Communication Services | 6455 | 6878 | 0 | 13333 |
| Consumer Discretionary | 3727 | 0 | 0 | 3727 |
| Consumer Staples | 4782 | 0 | 0 | 4782 |
| Energy | 2632 | 0 | 0 | 2632 |
| Financials | 17678 | 20315 | 0 | 37993 |
| Health Care | 1803 | 0 | 0 | 1803 |
| Industrials | 0 | 3038 | 0 | 3038 |
| Materials | 663 | 84667 | 0 | 85330 |
| South Korea | South Korea | South Korea | South Korea | South Korea |
| Communication Services | 0 | 47548 | 0 | 47548 |
| Consumer Discretionary | 0 | 29223 | 0 | 29223 |
| Consumer Staples | 0 | 20569 | 0 | 20569 |
| Energy | 0 | 2160 | 0 | 2160 |
| Financials | 0 | 54823 | 0 | 54823 |
| Industrials | 0 | 92399 | 0 | 92399 |
| Information Technology | 0 | 7652 | 0 | 7652 |
| Materials | 0 | 13009 | 0 | 13009 |
| Utilities | 0 | 20769 | 0 | 20769 |
| Taiwan | Taiwan | Taiwan | Taiwan | Taiwan |
| Consumer Discretionary | 0 | 6785 | 0 | 6785 |
| Industrials | 0 | 109302 | 0 | 109302 |
| Information Technology | 0 | 41400 | 0 | 41400 |
| Real Estate | 0 | 617 | 0 | 617 |
| Thailand | Thailand | Thailand | Thailand | Thailand |
| Consumer Discretionary | 0 | 2289 | 0 | 2289 |
| Energy | 27406 | 3829 | 0 | 31235 |
| Financials | 0 | 111668 | 0 | 111668 |
| Health Care | 0 | 508 | 0 | 508 |
| Industrials | 2079 | 0 | 0 | 2079 |
| Materials | 0 | 12111 | 0 | 12111 |
| Real Estate | 1719 | 1977 | 0 | 3696 |
| Turkey | Turkey | Turkey | Turkey | Turkey |
| Financials | 7632 | 0 | 0 | 7632 |
| United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates |
| Financials | 0 | 4470 | 0 | 4470 |
| Real Estate | 7709 | 0 | 0 | 7709 |
| Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks |
| Brazil | Brazil | Brazil | Brazil | Brazil |
| Banking & Finance | 45384 | 0 | 0 | 45384 |
| Industrials | 41080 | 0 | 0 | 41080 |
| Utilities | 126894 | 0 | 0 | 126894 |

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<br> Schedule of Investments PIMCO RAE Emerging Markets Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Chile | Chile | Chile | Chile | Chile |
| Industrials | 3613 | 0 | 0 | 3613 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Mexico | Mexico | Mexico | Mexico | Mexico |
| Real Estate | 3106 | 0 | 0 | 3106 |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Real Estate | 6154 | 1122 | 0 | 7276 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 1804 | 0 | 1804 |
|  | $736794 | $1668788 | $1 | $2405583 |
| **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 |
| Mutual Funds | 21657 | 0 | 0 | 21657 |
| Central Funds Used for Cash Management Purposes | 9169 | 0 | 0 | 9169 |
|  | $30826 | $0 | $0 | $30826 |
| Total Investments | $767620 | $1668788 | $1 | $2436409 |
| **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 | $8 | $0 | $0 | $8 |
| Total Financial Derivative Instruments | $8 | $0 | $0 | $8 |
| Totals | $767628 | $1668788 | $1 | $2436417 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO RAE Global ex-US Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 0.1% ¤** |  |  |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 4.200% (b) | 118810 | $118 |
| Total Short-Term Instruments (Cost $119) |  | 118 |
| Total Investments in Securities (Cost $119) |  | 118 |
| **INVESTMENTS IN AFFILIATES 100.0%**  |  |  |
| **MUTUAL FUNDS (a) 100.0%**  |  |  |
| **UNITED STATES 100.0%**<br>**PIMCO RAE Emerging Markets Fund**  | 2620179 | 31416 |
| **PIMCO RAE International Fund**  | 9410754 | 87144 |
| Total Mutual Funds (Cost $100,827) |  | 118560 |
| Total Investments in Affiliates (Cost $100,827) |  | 118560 |
| Total Investments 100.1% (Cost $100,946) |  | $118678 |
| Other Assets and Liabilities, net (0.1)% |  | (77) |
| Net Assets 100.0% |  | $118601 |

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------

<br> Schedule of Investments PIMCO RAE Global ex-US Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |
| **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** |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | $0 | $118 | $0 | $118 |
|  |  | $0 | $118 | $0 | $118 |
| **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** | **Investments in Affiliates, at Value** |
| Mutual Funds | Mutual Funds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;United States | 118560 | 0 | 0 | 118560 |
| Total Investments | Total Investments | $118560 | $118 | $0 | $118678 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO RAE International Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.0% ¤** |  |  |
| **COMMON STOCKS 97.6%**  |  |  |
| **AUSTRALIA 1.8%**  |  |  |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **JB Hi-Fi Ltd.** | 20064 | $1540 |
| **FINANCIALS 0.1%**  |  |  |
| **Suncorp Group Ltd.** | 51160 | 686 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Aurizon Holdings Ltd.** | 291542 | 615 |
| **Downer EDI Ltd.** | 184741 | 900 |
|  |  | 1515 |
| **MATERIALS 0.3%**  |  |  |
| **BlueScope Steel Ltd.** | 70991 | 1066 |
| **Sims Ltd.** | 41360 | 365 |
|  |  | 1431 |
| **UTILITIES 0.8%**  |  |  |
| **AGL Energy Ltd.** | 690744 | 4044 |
| Total Australia |  | 9216 |
| **AUSTRIA 1.4%**  |  |  |
| **ENERGY 0.5%**  |  |  |
| **OMV AG** | 45331 | 2422 |
| **FINANCIALS 0.3%**  |  |  |
| **Raiffeisen Bank International AG** | 36700 | 1271 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Strabag SE** | 1706 | 156 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **ams-OSRAM AG (a)** | 13376 | 189 |
| **MATERIALS 0.6%**  |  |  |
| **voestalpine AG** | 89709 | 3213 |
| Total Austria |  | 7251 |
| **BELGIUM 0.8%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Proximus SADP** | 170715 | 1494 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Colruyt Group NV** | 7341 | 289 |
| **FINANCIALS 0.3%**  |  |  |
| **Ageas SA** | 23662 | 1641 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MATERIALS 0.1%**  |  |  |
| **Bekaert SA** | 11190 | 514 |
| **Umicore SA** | 24772 | 443 |
|  |  | 957 |
| Total Belgium |  | 4381 |
| **CANADA 5.6%**  |  |  |
| **CONSUMER DISCRETIONARY 2.1%**  |  |  |
| **BRP, Inc. (c)** | 12500 | 760 |
| **Magna International, Inc.** | 217367 | 10299 |
|  |  | 11059 |
| **CONSUMER STAPLES 0.3%**  |  |  |
| **Empire Co. Ltd. Class A** | 37800 | 1357 |
| **FINANCIALS 0.3%**  |  |  |
| **IGM Financial, Inc.** | 15700 | 571 |
| **Onex Corp.** | 12910 | 1146 |
|  |  | 1717 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Finning International, Inc.** | 15400 | 715 |
| **MATERIALS 2.6%**  |  |  |
| **Canfor Corp. (a)** | 28200 | 249 |
| **Nutrien Ltd. (c)** | 184400 | 10829 |
| **West Fraser Timber Co. Ltd.** | 35600 | 2420 |
|  |  | 13498 |
| **UTILITIES 0.2%**  |  |  |
| **Atco Ltd. Class I** | 25981 | 940 |
| Total Canada |  | 29286 |
| **DENMARK 2.9%**  |  |  |
| **HEALTH CARE 0.2%**  |  |  |
| **H Lundbeck AS** | 109199 | 794 |
| **H Lundbeck AS Class A** | 315 | 2 |
|  |  | 796 |
| **INDUSTRIALS 2.7%**  |  |  |
| **AP Moller - Maersk AS Class B** | 6845 | 13456 |
| **D/S Norden AS** | 19642 | 714 |
|  |  | 14170 |
| Total Denmark |  | 14966 |
| **FINLAND 1.8%**  |  |  |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Kesko OYJ Class B** | 8046 | 171 |
| **FINANCIALS 1.0%**  |  |  |
| **Nordea Bank Abp** | 16304 | 269 |
| **Sampo OYJ Class A** | 414139 | 4761 |
|  |  | 5030 |
| **MATERIALS 0.4%**  |  |  |
| **Outokumpu OYJ** | 411613 | 1882 |
| **UTILITIES 0.4%**  |  |  |
| **Fortum OYJ** | 118240 | 2244 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Finland |  | <br> 9327 |
| **FRANCE 1.8%**  |  |  |
| **COMMUNICATION SERVICES 0.2%**  |  |  |
| **Orange SA** | 71822 | 1165 |
| **CONSUMER DISCRETIONARY 1.1%**  |  |  |
| **Cie Generale des Etablissements Michelin SCA** | 38167 | 1374 |
| **Valeo SE** | 335958 | 4237 |
|  |  | 5611 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Carrefour SA** | 22904 | 347 |
| **ENERGY 0.3%**  |  |  |
| **TotalEnergies SE** | 27191 | 1656 |
| **HEALTH CARE 0.1%**  |  |  |
| **Sanofi SA** | 4503 | 427 |
| Total France |  | 9206 |
| **GERMANY 7.4%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Bayerische Motoren Werke AG** | 3859 | 389 |
| **Mercedes-Benz Group AG** | 4929 | 311 |
|  |  | 700 |
| **HEALTH CARE 4.1%**  |  |  |
| **Bayer AG** | 463257 | 15422 |
| **BioNTech SE ADR** | 16943 | 1671 |
| **Fresenius Medical Care AG** | 31563 | 1668 |
| **Fresenius SE & Co. KGaA** | 42610 | 2381 |
|  |  | 21142 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Deutsche Post AG** | 8954 | 400 |
| **Hapag-Lloyd AG** | 1504 | 199 |
|  |  | 599 |
| **MATERIALS 3.1%**  |  |  |
| **BASF SE** | 264825 | 13232 |
| **thyssenkrupp AG** | 183245 | 2528 |
|  |  | 15760 |
| Total Germany |  | 38201 |
| **HONG KONG 4.2%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **PCCW Ltd.** | 273000 | 187 |
| **CONSUMER DISCRETIONARY 0.4%**  |  |  |
| **Skyworth Group Ltd. (c)** | 1310215 | 774 |
| **Yue Yuen Industrial Holdings Ltd.** | 602500 | 1025 |
|  |  | 1799 |
| **CONSUMER STAPLES 1.0%**  |  |  |
| **Want Want China Holdings Ltd.** | 173000 | 117 |
| **WH Group Ltd.** | 4710000 | 5101 |
|  |  | 5218 |
| **INDUSTRIALS 1.0%**  |  |  |
| **Cathay Pacific Airways Ltd.** | 106000 | 143 |
| **CTF Services Ltd.** | 85000 | 92 |
| **Hutchison Port Holdings Trust** | 2079000 | 416 |
| **Jardine Matheson Holdings Ltd.** | 22300 | 1407 |
| **SITC International Holdings Co. Ltd.** | 277000 | 1066 |
| **Swire Pacific Ltd. Class A** | 189000 | 1602 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Xinyi** **Glass Holdings Ltd.** | 158000 | 183 |
|  |  | 4909 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **Kingboard Holdings Ltd.** | 298500 | 1058 |
| **Kingboard Laminates Holdings Ltd.** | 350500 | 555 |
|  |  | 1613 |
| **REAL ESTATE 1.4%**  |  |  |
| **CK Asset Holdings Ltd.** | 483000 | 2339 |
| **Hang Lung Properties Ltd.** | 137000 | 154 |
| **Hopson Development Holdings Ltd. (a)** | 132800 | 59 |
| **Kerry Properties Ltd.** | 215000 | 575 |
| **New World Development Co. Ltd.** | 788000 | 790 |
| **Sun Hung Kai Properties Ltd.** | 223000 | 2667 |
| **Wharf Holdings Ltd.** | 213000 | 609 |
| **Wharf Real Estate Investment Co. Ltd.** | 67000 | 198 |
|  |  | 7391 |
| **UTILITIES 0.1%**  |  |  |
| **China Gas Holdings Ltd.** | 472400 | 462 |
| Total Hong Kong |  | 21579 |
| **IRELAND 0.0%**  |  |  |
| **HEALTH CARE 0.0%**  |  |  |
| **Medtronic PLC** | 1459 | 139 |
| Total Ireland |  | 139 |
| **ISRAEL 1.4%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Bezeq The Israeli Telecommunication Corp. Ltd.** | 183519 | 351 |
| **ENERGY 0.1%**  |  |  |
| **Oil Refineries Ltd.** | 1647121 | 445 |
| **Paz Retail & Energy Ltd.** | 723 | 148 |
|  |  | 593 |
| **FINANCIALS 0.2%**  |  |  |
| **Plus500 Ltd.** | 21044 | 912 |
| **INDUSTRIALS 0.9%**  |  |  |
| **ZIM Integrated Shipping Services Ltd. (c)** | 337498 | 4573 |
| **MATERIALS 0.1%**  |  |  |
| **ICL Group Ltd.** | 119883 | 749 |
| **REAL ESTATE 0.0%**  |  |  |
| **G City Ltd.** | 30273 | 111 |
| Total Israel |  | 7289 |
| **ITALY 0.9%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **Telecom Italia SpA (a)** | 5339391 | 2798 |
| **ENERGY 0.1%**  |  |  |
| **Eni SpA** | 24335 | 426 |
| **UTILITIES 0.3%**  |  |  |
| **Enel SpA** | 180593 | 1711 |
| Total Italy |  | 4935 |
| **JAPAN 22.4%**  |  |  |
| **COMMUNICATION SERVICES 0.8%**  |  |  |
| **Hakuhodo DY Holdings, Inc.** | 42800 | 344 |
| **KDDI Corp.** | 149500 | 2384 |
| **NTT, Inc.** | 466900 | 488 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Square** **Enix Holdings Co. Ltd.** | 42000 | 904 |
|  |  | 4120 |
| **CONSUMER DISCRETIONARY 3.7%**  |  |  |
| **Aisin Corp.** | 41400 | 715 |
| **Bandai Namco Holdings, Inc.** | 90400 | 3008 |
| **Bridgestone Corp.** | 14600 | 675 |
| **EDION Corp.** | 76200 | 1115 |
| **Isuzu Motors Ltd.** | 104000 | 1311 |
| **Izumi Co. Ltd.** | 16700 | 368 |
| **JTEKT Corp.** | 54400 | 540 |
| **K's Holdings Corp.** | 124900 | 1349 |
| **Mazda Motor Corp. (c)** | 163300 | 1189 |
| **Nikon Corp. (c)** | 54700 | 636 |
| **PALTAC Corp.** | 12500 | 391 |
| **Panasonic Holdings Corp.** | 162000 | 1758 |
| **Sharp Corp. (a)** | 72200 | 404 |
| **Shimamura Co. Ltd.** | 12100 | 809 |
| **Subaru Corp.** | 40300 | 821 |
| **Sumitomo Rubber Industries Ltd.** | 66700 | 809 |
| **Tokai Rika Co. Ltd.** | 12900 | 233 |
| **Toyoda Gosei Co. Ltd.** | 13800 | 343 |
| **Toyota Boshoku Corp.** | 13200 | 218 |
| **TS Tech Co. Ltd.** | 18600 | 234 |
| **Yamada Holdings Co. Ltd.** | 580700 | 1906 |
| **Yamaha Corp.** | 22400 | 149 |
|  |  | 18981 |
| **CONSUMER STAPLES 1.7%**  |  |  |
| **Arcs Co. Ltd.** | 14100 | 301 |
| **Coca-Cola Bottlers Japan Holdings, Inc.** | 57200 | 1020 |
| **Itoham Yonekyu Holdings, Inc.** | 17580 | 676 |
| **Kewpie Corp.** | 2200 | 60 |
| **Lion Corp.** | 17800 | 186 |
| **MatsukiyoCocokara & Co.** | 55700 | 1132 |
| **MEIJI Holdings Co. Ltd.** | 101100 | 2096 |
| **Morinaga Milk Industry Co. Ltd.** | 5600 | 131 |
| **Nichirei Corp.** | 25400 | 298 |
| **Sugi Holdings Co. Ltd.** | 30900 | 745 |
| **Tsuruha Holdings, Inc.** | 88500 | 1417 |
| **United Super Markets Holdings, Inc.** | 29800 | 194 |
| **Welcia Holdings Co. Ltd.** | 19100 | 349 |
|  |  | 8605 |
| **FINANCIALS 3.2%**  |  |  |
| **Japan Post Holdings Co. Ltd.** | 1517600 | 15063 |
| **MS&AD Insurance Group Holdings, Inc.** | 73500 | 1664 |
|  |  | 16727 |
| **HEALTH CARE 1.1%**  |  |  |
| **Alfresa Holdings Corp.** | 86100 | 1233 |
| **Medipal Holdings Corp.** | 83000 | 1428 |
| **Ono Pharmaceutical Co. Ltd.** | 40100 | 464 |
| **Sumitomo Pharma Co. Ltd.** | 78600 | 911 |
| **Suzuken Co. Ltd.** | 44900 | 1765 |
| **Toho Holdings Co. Ltd.** | 3800 | 140 |
|  |  | 5941 |
| **INDUSTRIALS 4.1%**  |  |  |
| **AGC, Inc.** | 69600 | 2270 |
| **Amada Co. Ltd.** | 66900 | 822 |
| **COMSYS Holdings Corp.** | 44100 | 1098 |
| **Dai Nippon Printing Co. Ltd.** | 119500 | 2032 |
| **EXEO Group, Inc.** | 19400 | 281 |
| **Furukawa Electric Co. Ltd.** | 20600 | 1270 |
| **Hino Motors Ltd. (a)** | 381200 | 995 |
| **Kamigumi Co. Ltd.** | 8200 | 249 |
| **Kandenko Co. Ltd.** | 10000 | 274 |
| **Nagase & Co. Ltd.** | 10000 | 216 |
| **Nippon Express Holdings, Inc.** | 43500 | 988 |
| **Nisshinbo Holdings, Inc.** | 18400 | 142 |
| **NSK Ltd.** | 88300 | 455 |
| **Persol Holdings Co. Ltd.** | 650600 | 1185 |
| **Sankyu, Inc.** | 17600 | 963 |
| **Seino Holdings Co. Ltd.** | 53000 | 781 |
| **Sekisui Chemical Co. Ltd.** | 73000 | 1359 |
| **SG Holdings Co. Ltd.** | 71300 | 736 |
| **Sumitomo Heavy Industries Ltd.** | 11000 | 264 |
| **TOPPAN Holdings, Inc.** | 33400 | 856 |
| **TOTO Ltd.** | 18100 | 476 |

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<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Yamato** **Holdings Co. Ltd. (c)** | 222400 | 3555 |
|  |  | 21267 |
| **INFORMATION TECHNOLOGY 4.5%**  |  |  |
| **Alps Alpine Co. Ltd.** | 159400 | 2018 |
| **Brother Industries Ltd.** | 87200 | 1457 |
| **Canon Marketing Japan, Inc.** | 20900 | 845 |
| **Canon, Inc.** | 175350 | 5117 |
| **Fujitsu Ltd.** | 365000 | 8562 |
| **Konica Minolta, Inc.** | 313400 | 1115 |
| **Otsuka Corp.** | 4400 | 92 |
| **Ricoh Co. Ltd.** | 141600 | 1247 |
| **Seiko Epson Corp. (c)** | 131500 | 1682 |
| **Taiyo Yuden Co. Ltd.** | 18900 | 422 |
| **TIS, Inc.** | 20800 | 686 |
|  |  | 23243 |
| **MATERIALS 2.0%**  |  |  |
| **Daicel Corp.** | 41000 | 373 |
| **Denka Co. Ltd.** | 40100 | 618 |
| **Dowa Holdings Co. Ltd.** | 13000 | 474 |
| **JFE Holdings, Inc.** | 17500 | 215 |
| **Kaneka Corp.** | 7400 | 210 |
| **Kansai Paint Co. Ltd.** | 14700 | 240 |
| **Mitsubishi Chemical Group Corp.** | 453600 | 2606 |
| **Mitsubishi Materials Corp.** | 21400 | 401 |
| **Mitsui Mining & Smelting Co. Ltd.** | 16000 | 1243 |
| **Nippon Paper Industries Co. Ltd.** | 16000 | 132 |
| **Nippon Shokubai Co. Ltd.** | 54300 | 669 |
| **Sumitomo Chemical Co. Ltd.** | 332600 | 1047 |
| **Teijin Ltd.** | 37800 | 321 |
| **Tosoh Corp.** | 17800 | 263 |
| **Toyo Seikan Group Holdings Ltd.** | 63100 | 1439 |
| **Zeon Corp.** | 8500 | 95 |
|  |  | 10346 |
| **REAL ESTATE 0.6%**  |  |  |
| **Daito Trust Construction Co. Ltd.** | 131500 | 2885 |
| **UTILITIES 0.7%**  |  |  |
| **Chubu Electric Power Co., Inc.** | 13500 | 188 |
| **Electric Power Development Co. Ltd.** | 67100 | 1257 |
| **Toho Gas Co. Ltd.** | 11400 | 351 |
| **Tokyo Gas Co. Ltd.** | 58500 | 2080 |
|  |  | 3876 |
| Total Japan |  | 115991 |
| **LUXEMBOURG 3.2%**  |  |  |
| **MATERIALS 3.2%**  |  |  |
| **ArcelorMittal SA** | 455816 | 16444 |
| Total Luxembourg |  | 16444 |
| **NETHERLANDS 6.6%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Stellantis NV** | 60458 | 561 |
| **CONSUMER STAPLES 4.2%**  |  |  |
| **Koninklijke Ahold Delhaize NV** | 534722 | 21638 |
| **FINANCIALS 0.6%**  |  |  |
| **ING Groep NV** | 12657 | 332 |
| **NN Group NV** | 37327 | 2632 |
|  |  | 2964 |
| **INDUSTRIALS 0.9%**  |  |  |
| **Randstad NV** | 79701 | 3398 |
| **Signify NV** | 46337 | 1219 |
|  |  | 4617 |
| **MATERIALS 0.8%**  |  |  |
| **Akzo Nobel NV** | 59692 | 4260 |

---

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<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Netherlands |  | <br> 34040 |
| **NEW ZEALAND 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **Air New Zealand Ltd.** | 165710 | 57 |
| **Fletcher Building Ltd.** | 70502 | 138 |
|  |  | 195 |
| Total New Zealand |  | 195 |
| **NORWAY 3.6%**  |  |  |
| **COMMUNICATION SERVICES 0.6%**  |  |  |
| **Telenor ASA** | 187920 | 3118 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Leroy Seafood Group ASA** | 12642 | 63 |
| **ENERGY 2.0%**  |  |  |
| **DNO ASA** | 147271 | 226 |
| **Equinor ASA** | 413954 | 10095 |
|  |  | 10321 |
| **MATERIALS 1.0%**  |  |  |
| **Elkem ASA** | 52156 | 137 |
| **Yara International ASA** | 137113 | 5026 |
|  |  | 5163 |
| Total Norway |  | 18665 |
| **RUSSIA 0.0%**  |  |  |
| **MATERIALS 0.0%**  |  |  |
| **Evraz PLC «(a)** | 238175 | 0 |
| Total Russia |  | 0 |
| **SINGAPORE 0.7%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **JOYY, Inc. ADR** | 30255 | 1773 |
| **INDUSTRIALS 0.2%**  |  |  |
| **ComfortDelGro Corp. Ltd.** | 809000 | 910 |
| **Jardine Cycle & Carriage Ltd.** | 16400 | 365 |
|  |  | 1275 |
| **INFORMATION TECHNOLOGY 0.1%**  |  |  |
| **Venture Corp. Ltd.** | 27300 | 295 |
| **REAL ESTATE 0.1%**  |  |  |
| **UOL Group Ltd.** | 41100 | 249 |
| Total Singapore |  | 3592 |
| **SPAIN 3.4%**  |  |  |
| **COMMUNICATION SERVICES 2.2%**  |  |  |
| **Telefonica SA** | 2276375 | 11715 |
| **ENERGY 0.1%**  |  |  |
| **Repsol SA** | 24499 | 436 |
| **FINANCIALS 0.5%**  |  |  |
| **Banco Santander SA** | 39317 | 413 |
| **Mapfre SA** | 424961 | 2017 |
|  |  | 2430 |
| **UTILITIES 0.6%**  |  |  |
| **Endesa SA** | 85846 | 2742 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Naturgy** **Energy Group SA** | 17725 | 551 |
|  |  | 3293 |
| Total Spain |  | 17874 |
| **SWEDEN 3.0%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **Tele2 AB Class B** | 159190 | 2716 |
| **CONSUMER DISCRETIONARY 0.4%**  |  |  |
| **Electrolux AB Class B (a)** | 234547 | 1284 |
| **H & M Hennes & Mauritz AB Class B** | 47158 | 881 |
|  |  | 2165 |
| **INDUSTRIALS 0.5%**  |  |  |
| **Husqvarna AB Class B** | 39341 | 210 |
| **Peab AB Class B** | 70891 | 577 |
| **Skanska AB Class B** | 9838 | 256 |
| **SKF AB Class B** | 51526 | 1282 |
|  |  | 2325 |
| **INFORMATION TECHNOLOGY 1.2%**  |  |  |
| **Telefonaktiebolaget LM Ericsson Class B** | 749472 | 6210 |
| **MATERIALS 0.4%**  |  |  |
| **SSAB AB Class A** | 372694 | 2239 |
| Total Sweden |  | 15655 |
| **SWITZERLAND 8.5%**  |  |  |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Nestle SA** | 6672 | 613 |
| **FINANCIALS 0.3%**  |  |  |
| **Swiss Life Holding AG** | 250 | 270 |
| **Zurich Insurance Group AG** | 1654 | 1182 |
|  |  | 1452 |
| **HEALTH CARE 4.8%**  |  |  |
| **Novartis AG** | 28842 | 3708 |
| **Roche Holding AG** | 63270 | 21068 |
|  |  | 24776 |
| **INDUSTRIALS 0.5%**  |  |  |
| **Adecco Group AG** | 93286 | 2628 |
| **MATERIALS 2.8%**  |  |  |
| **Glencore PLC** | 3210873 | 14788 |
| Total Switzerland |  | 44257 |
| **UNITED KINGDOM 16.2%**  |  |  |
| **COMMUNICATION SERVICES 4.5%**  |  |  |
| **Vodafone Group PLC** | 20150315 | 23433 |
| **CONSUMER DISCRETIONARY 1.5%**  |  |  |
| **Burberry Group PLC** | 66419 | 1049 |
| **Currys PLC** | 761220 | 1430 |
| **Kingfisher PLC** | 931811 | 3882 |
| **Persimmon PLC** | 97064 | 1516 |
|  |  | 7877 |
| **CONSUMER STAPLES 6.0%**  |  |  |
| **British American Tobacco PLC** | 409091 | 21758 |
| **Imperial Brands PLC** | 216845 | 9212 |
|  |  | 30970 |
| **ENERGY 0.1%**  |  |  |
| **Shell PLC** | 8243 | 294 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **FINANCIALS 2.0%**  |  |  |
| **Aberdeen Group PLC** | 691172 | 1840 |
| **M&G PLC** | 1210255 | 4127 |
| **NatWest Group PLC** | 589866 | 4167 |
|  |  | 10134 |
| **HEALTH CARE 1.1%**  |  |  |
| **GSK PLC** | 277593 | 5960 |
| **MATERIALS 0.2%**  |  |  |
| **Johnson Matthey PLC** | 32468 | 880 |
| **UTILITIES 0.8%**  |  |  |
| **Centrica PLC** | 1883608 | 4230 |
| Total United Kingdom |  | 83778 |
| Total Common Stocks (Cost $406,268) |  | 506267 |
| **PREFERRED STOCKS 1.2%**  |  |  |
| **GERMANY 1.2%**  |  |  |
| **INDUSTRIALS 1.2%**  |  |  |
| **Volkswagen AG** | 55382 | 6003 |
| Total Preferred Stocks (Cost $4,788) |  | 6003 |
| **REAL ESTATE INVESTMENT TRUSTS 0.1%**  |  |  |
| **CANADA 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **RioCan Real Estate Investment Trust (c)** | 36942 | 503 |
| Total Real Estate Investment Trusts (Cost $465) |  | 503 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 4.200% (d) | 580214 | 580 |
| Total Mutual Funds (Cost $580) |  | 580 |
| Total Short-Term Instruments (Cost $580) |  | 580 |
| Total Investments in Securities (Cost $412,101) |  | 513353 |
| **INVESTMENTS IN AFFILIATES 4.7%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.7%**  |  |  |
| **MUTUAL FUNDS 4.6%**  |  |  |
| **PIMCO Government Money Market Fund**<br> 4.290% (b)(c)(d) | 23826373 | 23826 |
| Total Mutual Funds (Cost $23,827) |  | 23826 |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.1%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 45123 | 440 |
| Total Short-Term Instruments (Cost $24,266) |  | 24266 |
| Total Investments in Affiliates (Cost $24,266) |  | 24266 |
| Total Investments 103.7% (Cost $436,367) |  | $537619 |
| Other Assets and Liabilities, net (3.7)% |  | (19180) |
| Net Assets 100.0% |  | $518439 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(c)** | **Securities with an aggregate market value of $22,627 were out on loan in exchange for $23,826 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $22,627 were out on loan in exchange for $23,826 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $22,627 were out on loan in exchange for $23,826 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $22,627 were out on loan in exchange for $23,826 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $22,627 were out on loan in exchange for $23,826 of cash collateral as of September 30, 2025.**  |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |
| **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** |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Australia | Australia | Australia | Australia | Australia | Australia |
|  | Consumer Discretionary | $0 | $1540 | $0 | $1540 |
|  | Financials | 0 | 686 | 0 | 686 |
|  | Industrials | 0 | 1515 | 0 | 1515 |
|  | Materials | 0 | 1431 | 0 | 1431 |
|  | Utilities | 0 | 4044 | 0 | 4044 |
| Austria | Austria | Austria | Austria | Austria | Austria |
|  | Energy | 0 | 2422 | 0 | 2422 |
|  | Financials | 0 | 1271 | 0 | 1271 |
|  | Industrials | 0 | 156 | 0 | 156 |
|  | Information Technology | 0 | 189 | 0 | 189 |
|  | Materials | 0 | 3213 | 0 | 3213 |
| Belgium | Belgium | Belgium | Belgium | Belgium | Belgium |
|  | Communication Services | 0 | 1494 | 0 | 1494 |
|  | Consumer Staples | 0 | 289 | 0 | 289 |
|  | Financials | 0 | 1641 | 0 | 1641 |
|  | Materials | 0 | 957 | 0 | 957 |
| Canada | Canada | Canada | Canada | Canada | Canada |
|  | Consumer Discretionary | 11059 | 0 | 0 | 11059 |
|  | Consumer Staples | 1357 | 0 | 0 | 1357 |
|  | Financials | 1717 | 0 | 0 | 1717 |
|  | Industrials | 715 | 0 | 0 | 715 |
|  | Materials | 13498 | 0 | 0 | 13498 |
|  | Utilities | 940 | 0 | 0 | 940 |
| Denmark | Denmark | Denmark | Denmark | Denmark | Denmark |
|  | Health Care | 0 | 796 | 0 | 796 |
|  | Industrials | 0 | 14170 | 0 | 14170 |
| Finland | Finland | Finland | Finland | Finland | Finland |
|  | Consumer Staples | 0 | 171 | 0 | 171 |
|  | Financials | 0 | 5030 | 0 | 5030 |
|  | Materials | 0 | 1882 | 0 | 1882 |
|  | Utilities | 0 | 2244 | 0 | 2244 |
| France | France | France | France | France | France |
|  | Communication Services | 0 | 1165 | 0 | 1165 |
|  | Consumer Discretionary | 0 | 5611 | 0 | 5611 |
|  | Consumer Staples | 0 | 347 | 0 | 347 |
|  | Energy | 0 | 1656 | 0 | 1656 |
|  | Health Care | 0 | 427 | 0 | 427 |
| Germany | Germany | Germany | Germany | Germany | Germany |
|  | Consumer Discretionary | 0 | 700 | 0 | 700 |
|  | Health Care | 1671 | 19471 | 0 | 21142 |
|  | Industrials | 0 | 599 | 0 | 599 |
|  | Materials | 0 | 15760 | 0 | 15760 |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |
|  | Communication Services | 0 | 187 | 0 | 187 |
|  | Consumer Discretionary | 0 | 1799 | 0 | 1799 |
|  | Consumer Staples | 0 | 5218 | 0 | 5218 |
|  | Industrials | 3084 | 1825 | 0 | 4909 |
|  | Information Technology | 0 | 1613 | 0 | 1613 |
|  | Real Estate | 668 | 6723 | 0 | 7391 |
|  | Utilities | 0 | 462 | 0 | 462 |
| Ireland | Ireland | Ireland | Ireland | Ireland | Ireland |
|  | Health Care | 139 | 0 | 0 | 139 |
| Israel | Israel | Israel | Israel | Israel | Israel |
|  | Communication Services | 0 | 351 | 0 | 351 |
|  | Energy | 593 | 0 | 0 | 593 |
|  | Financials | 0 | 912 | 0 | 912 |
|  | Industrials | 4573 | 0 | 0 | 4573 |
|  | Materials | 0 | 749 | 0 | 749 |

---

------

<br> Schedule of Investments PIMCO RAE International Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Real Estate | 0 | 111 | 0 | 111 |
| Italy | Italy | Italy | Italy | Italy |
| Communication Services | 0 | 2798 | 0 | 2798 |
| Energy | 0 | 426 | 0 | 426 |
| Utilities | 0 | 1711 | 0 | 1711 |
| Japan | Japan | Japan | Japan | Japan |
| Communication Services | 0 | 4120 | 0 | 4120 |
| Consumer Discretionary | 0 | 18981 | 0 | 18981 |
| Consumer Staples | 3837 | 4768 | 0 | 8605 |
| Financials | 0 | 16727 | 0 | 16727 |
| Health Care | 0 | 5941 | 0 | 5941 |
| Industrials | 0 | 21267 | 0 | 21267 |
| Information Technology | 0 | 23243 | 0 | 23243 |
| Materials | 0 | 10346 | 0 | 10346 |
| Real Estate | 0 | 2885 | 0 | 2885 |
| Utilities | 0 | 3876 | 0 | 3876 |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Materials | 0 | 16444 | 0 | 16444 |
| Netherlands | Netherlands | Netherlands | Netherlands | Netherlands |
| Consumer Discretionary | 0 | 561 | 0 | 561 |
| Consumer Staples | 0 | 21638 | 0 | 21638 |
| Financials | 0 | 2964 | 0 | 2964 |
| Industrials | 0 | 4617 | 0 | 4617 |
| Materials | 0 | 4260 | 0 | 4260 |
| New Zealand | New Zealand | New Zealand | New Zealand | New Zealand |
| Industrials | 57 | 138 | 0 | 195 |
| Norway | Norway | Norway | Norway | Norway |
| Communication Services | 0 | 3118 | 0 | 3118 |
| Consumer Staples | 0 | 63 | 0 | 63 |
| Energy | 0 | 10321 | 0 | 10321 |
| Materials | 0 | 5163 | 0 | 5163 |
| Singapore | Singapore | Singapore | Singapore | Singapore |
| Communication Services | 1773 | 0 | 0 | 1773 |
| Industrials | 0 | 1275 | 0 | 1275 |
| Information Technology | 0 | 295 | 0 | 295 |
| Real Estate | 0 | 249 | 0 | 249 |
| Spain | Spain | Spain | Spain | Spain |
| Communication Services | 0 | 11715 | 0 | 11715 |
| Energy | 0 | 436 | 0 | 436 |
| Financials | 0 | 2430 | 0 | 2430 |
| Utilities | 2742 | 551 | 0 | 3293 |
| Sweden | Sweden | Sweden | Sweden | Sweden |
| Communication Services | 0 | 2716 | 0 | 2716 |
| Consumer Discretionary | 0 | 2165 | 0 | 2165 |
| Industrials | 0 | 2325 | 0 | 2325 |
| Information Technology | 0 | 6210 | 0 | 6210 |
| Materials | 0 | 2239 | 0 | 2239 |
| Switzerland | Switzerland | Switzerland | Switzerland | Switzerland |
| Consumer Staples | 0 | 613 | 0 | 613 |
| Financials | 0 | 1452 | 0 | 1452 |
| Health Care | 0 | 24776 | 0 | 24776 |
| Industrials | 0 | 2628 | 0 | 2628 |
| Materials | 0 | 14788 | 0 | 14788 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Communication Services | 0 | 23433 | 0 | 23433 |
| Consumer Discretionary | 1430 | 6447 | 0 | 7877 |
| Consumer Staples | 0 | 30970 | 0 | 30970 |
| Energy | 0 | 294 | 0 | 294 |
| Financials | 0 | 10134 | 0 | 10134 |
| Health Care | 0 | 5960 | 0 | 5960 |
| Materials | 0 | 880 | 0 | 880 |
| Utilities | 0 | 4230 | 0 | 4230 |
| Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks |
| Germany | Germany | Germany | Germany | Germany |
| Industrials | 0 | 6003 | 0 | 6003 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Canada | Canada | Canada | Canada | Canada |
| Real Estate | 503 | 0 | 0 | 503 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | 0 | 580 | 0 | 580 |
|  | $50356 | $462997 | $0 | $513353 |
| **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 |
| Mutual Funds | 23827 | 0 | 0 | 23827 |
| Central Funds Used for Cash Management Purposes | 439 | 0 | 0 | 439 |
|  | $24266 | $0 | $0 | $24266 |
| Total Investments | $74622 | $462997 | $0 | $537619 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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------

<br> Schedule of Investments PIMCO RAE US Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.7% ¤**<br> **COMMON STOCKS 98.5%** <br> **UNITED KINGDOM 0.1%**<br> **COMMUNICATION SERVICES 0.1%** |  |  |
| **Liberty Global Ltd. Class C (a)** | 117280 | 1378 |
| **Total United Kingdom** |  | 1378 |
| **UNITED STATES 98.4%** |  |  |
| **COMMUNICATION SERVICES 9.8%**  |  |  |
| **Alphabet, Inc. Class A** | 37858 | $9203 |
| **Altice USA, Inc. Class A (a)** | 58235 | 140 |
| **AT&T, Inc.** | 77354 | 2185 |
| **Charter Communications, Inc. Class A (a)** | 126624 | 34835 |
| **Comcast Corp. Class A** | 128947 | 4052 |
| **Electronic Arts, Inc.** | 40040 | 8076 |
| **Fox Corp. Class A** | 227683 | 14358 |
| **Lumen Technologies, Inc. (a)** | 2086345 | 12768 |
| **Paramount Skydance Corp. Class B (c)** | 770602 | 14580 |
| **Sirius XM Holdings, Inc.** | 55262 | 1286 |
| **Verizon Communications, Inc.** | 43120 | 1895 |
| **Warner Bros Discovery, Inc. (a)** | 1913706 | 37375 |
|  |  | 140.753 |
| **CONSUMER DISCRETIONARY 9.0%**  |  |  |
| **Advance Auto Parts, Inc.** | 115775 | 7109 |
| **AutoNation, Inc. (a)** | 26716 | 5845 |
| **Best Buy Co., Inc.** | 295724 | 22363 |
| **Dick's Sporting Goods, Inc.** | 24845 | 5521 |
| **eBay, Inc.** | 233287 | 21217 |
| **Goodyear Tire & Rubber Co. (a)** | 100748 | 754 |
| **Home Depot, Inc.** | 3072 | 1245 |
| **Kohl's Corp. (c)** | 801564 | 12320 |
| **Lowe's Cos., Inc.** | 20603 | 5178 |
| **Macy's, Inc.** | 668480 | 11986 |
| **MGM Resorts International (a)** | 180899 | 6270 |
| **Newell Brands, Inc.** | 261564 | 1371 |
| **NIKE, Inc. Class B** | 10257 | 715 |
| **NVR, Inc. (a)** | 70 | 562 |
| **PVH Corp.** | 67035 | 5615 |
| **Ralph Lauren Corp.** | 12860 | 4032 |
| **Tapestry, Inc.** | 73598 | 8333 |
| **VF Corp.** | 272101 | 3926 |
| **Whirlpool Corp. (c)** | 70337 | 5528 |
|  |  | 129890 |
| **CONSUMER STAPLES 11.6%**  |  |  |
| **Altria Group, Inc.** | 498472 | 32929 |
| **Archer-Daniels-Midland Co.** | 168408 | 10061 |
| **Dollar General Corp.** | 135494 | 14003 |
| **Dollar Tree, Inc. (a)** | 62939 | 5940 |
| **Kroger Co.** | 470335 | 31705 |
| **Target Corp.** | 179991 | 16145 |
| **Tyson Foods, Inc. Class A** | 49710 | 2699 |
| **Walmart, Inc.** | 521726 | 53769 |
|  |  | 167251 |
| **ENERGY 10.5%**  |  |  |
| **Chevron Corp.** | 30713 | 4769 |
| **Marathon Petroleum Corp.** | 352383 | 67918 |
| **PBF Energy, Inc. Class A** | 50104 | 1512 |
| **Phillips 66** | 123252 | 16765 |
| **Valero Energy Corp.** | 347017 | 59083 |
| **World Kinect Corp.** | 30017 | 779 |
|  |  | 150826 |
| **FINANCIALS 9.5%**  |  |  |
| **Aflac, Inc.** | 29705 | 3318 |

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<br> Schedule of Investments PIMCO RAE US Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ally** **Financial, Inc.** | 276174 | 10826 |
| **American Financial Group, Inc.** | 35080 | 5112 |
| **American International Group, Inc.** | 162517 | 12764 |
| **Capital One Financial Corp.** | 11844 | 2518 |
| **Comerica, Inc.** | 32722 | 2242 |
| **Corebridge Financial, Inc.** | 27424 | 879 |
| **First American Financial Corp.** | 44222 | 2841 |
| **Franklin Resources, Inc.** | 202687 | 4688 |
| **Invesco Ltd.** | 319278 | 7324 |
| **Old Republic International Corp.** | 48166 | 2046 |
| **OneMain Holdings, Inc.** | 78000 | 4404 |
| **PayPal Holdings, Inc. (a)** | 362668 | 24321 |
| **Synchrony Financial** | 446312 | 31710 |
| **T. Rowe Price Group, Inc.** | 135922 | 13951 |
| **Travelers Cos., Inc.** | 818 | 228 |
| **Unum Group** | 37003 | 2878 |
| **Wells Fargo & Co.** | 17790 | 1491 |
| **Zions Bancorp NA** | 52153 | 2951 |
|  |  | 136492 |
| **HEALTH CARE 15.3%**  |  |  |
| **Abbott Laboratories** | 5647 | 756 |
| **AbbVie, Inc.** | 3542 | 820 |
| **Align Technology, Inc. (a)** | 16259 | 2036 |
| **Biogen, Inc. (a)** | 47888 | 6708 |
| **Bristol-Myers Squibb Co.** | 841741 | 37963 |
| **Cardinal Health, Inc.** | 72578 | 11392 |
| **Centene Corp. (a)** | 119309 | 4257 |
| **Cigna Group** | 20223 | 5829 |
| **CVS Health Corp.** | 12100 | 912 |
| **DaVita, Inc. (a)** | 54867 | 7290 |
| **Gilead Sciences, Inc.** | 513382 | 56985 |
| **Humana, Inc.** | 75117 | 19543 |
| **Johnson & Johnson** | 158148 | 29324 |
| **Labcorp Holdings, Inc.** | 27309 | 7839 |
| **Organon & Co.** | 261182 | 2790 |
| **Pfizer, Inc.** | 371642 | 9470 |
| **Quest Diagnostics, Inc.** | 24518 | 4673 |
| **Solventum Corp. (a)** | 29871 | 2181 |
| **Universal Health Services, Inc. Class B** | 44963 | 9192 |
|  |  | 219960 |
| **INDUSTRIALS 7.9%**  |  |  |
| **3M Co.** | 186800 | 28987 |
| **Avis Budget Group, Inc. (a)** | 30065 | 4828 |
| **CH Robinson Worldwide, Inc.** | 75187 | 9955 |
| **CSX Corp.** | 278687 | 9896 |
| **Expeditors International of Washington, Inc.** | 96189 | 11792 |
| **FedEx Corp.** | 4152 | 979 |
| **Hertz Global Holdings, Inc. (a)(c)** | 368400 | 2505 |
| **Honeywell International, Inc.** | 3339 | 703 |
| **Leidos Holdings, Inc.** | 23960 | 4527 |
| **Lockheed Martin Corp.** | 47144 | 23535 |
| **ManpowerGroup, Inc.** | 114906 | 4355 |
| **Masco Corp.** | 23284 | 1639 |
| **Norfolk Southern Corp.** | 17385 | 5223 |
| **Robert Half, Inc.** | 100817 | 3426 |
| **Ryder System, Inc.** | 5301 | 1000 |
|  |  | 113350 |
| **INFORMATION TECHNOLOGY 18.3%**  |  |  |
| **Amdocs Ltd.** | 56388 | 4627 |
| **Apple, Inc.** | 5175 | 1318 |
| **Applied Materials, Inc.** | 31640 | 6478 |
| **Arrow Electronics, Inc. (a)** | 76127 | 9211 |
| **Avnet, Inc.** | 106483 | 5567 |
| **Cisco Systems, Inc.** | 880950 | 60275 |
| **Cognizant Technology Solutions Corp. Class A** | 208403 | 13978 |
| **DXC Technology Co. (a)** | 168129 | 2292 |
| **Hewlett Packard Enterprise Co.** | 924978 | 22717 |
| **HP, Inc.** | 904720 | 24635 |
| **Intel Corp. (a)** | 730012 | 24492 |
| **Jabil, Inc.** | 24655 | 5354 |
| **Kyndryl Holdings, Inc. (a)** | 154954 | 4653 |
| **Lam Research Corp.** | 56028 | 7502 |
| **NetApp, Inc.** | 71262 | 8442 |
| **Oracle Corp.** | 18920 | 5321 |
| **Qorvo, Inc. (a)** | 97129 | 8846 |
| **QUALCOMM, Inc.** | 43267 | 7198 |
| **Seagate Technology Holdings PLC** | 80500 | 19003 |
| **Skyworks Solutions, Inc.** | 124116 | 9554 |
| **Teradyne, Inc.** | 51541 | 7094 |

---

------

<br> Schedule of Investments PIMCO RAE US Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Western** **Digital Corp.** | 33990 | 4081 |
| **Xerox Holdings Corp. (c)** | 386065 | 1452 |
|  |  | 264090 |
| **MATERIALS 3.8%**  |  |  |
| **CF Industries Holdings, Inc.** | 80196 | 7194 |
| **Cleveland-Cliffs, Inc. (a)** | 839054 | 10236 |
| **DuPont de Nemours, Inc.** | 37770 | 2942 |
| **Eastman Chemical Co.** | 35946 | 2266 |
| **Huntsman Corp.** | 195778 | 1758 |
| **International Paper Co.** | 70172 | 3256 |
| **LyondellBasell Industries NV Class A** | 100002 | 4904 |
| **Mosaic Co.** | 256580 | 8898 |
| **Olin Corp.** | 65885 | 1647 |
| **Reliance, Inc.** | 13317 | 3740 |
| **Steel Dynamics, Inc.** | 56627 | 7896 |
|  |  | 54737 |
| **REAL ESTATE 0.7%**  |  |  |
| **CBRE Group, Inc. Class A (a)** | 23759 | 3743 |
| **Jones Lang LaSalle, Inc. (a)** | 23125 | 6898 |
|  |  | 10641 |
| **UTILITIES 2.0%**  |  |  |
| **Consolidated Edison, Inc.** | 25029 | 2516 |
| **Evergy, Inc.** | 129605 | 9853 |
| **PPL Corp.** | 150415 | 5589 |
| **Southern Co.** | 23608 | 2237 |
| **UGI Corp.** | 125768 | 4183 |
| **WEC Energy Group, Inc.** | 37998 | 4354 |
|  |  | 28732 |
| Total United States |  | 1416722 |
| Total Common Stocks (Cost $1,093,292) |  | 1418100 |
| **REAL ESTATE INVESTMENT TRUSTS 1.2%**  |  |  |
| **UNITED STATES 1.2%** |  |  |
| **REAL ESTATE 1.2%**  |  |  |
| **Host Hotels & Resorts, Inc.** | 420317 | 7154 |
| **Weyerhaeuser Co.** | 386783 | 9588 |
| Total Real Estate Investment Trusts (Cost $18,245) |  | 16742 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class**<br> 4.200% (d) | 250458 | 251 |
| Total Mutual Funds (Cost $251) |  | 251 |
| Total Short-Term Instruments (Cost $251) |  | 251 |
| Total Investments in Securities (Cost $1,111,788) |  | 1435093 |
| **INVESTMENTS IN AFFILIATES 2.4%**  |  |  |
| **SHORT-TERM INSTRUMENTS 2.4%**  |  |  |
| **MUTUAL FUNDS 2.2%**  |  |  |
| **PIMCO Government Money Market Fund** <br> 4.290% (b)(c)(d) | 31265158 | 31265 |
| Total Mutual Funds (Cost $31,265) |  | 31265 |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.2%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 311217 | 3031 |
| Total Short-Term Instruments (Cost $34,547) |  | 34547 |
| Total Investments in Affiliates (Cost $34,296) |  | 34296 |
| Total Investments 102.1% (Cost $1,146,084) |  | $1469389 |
| Other Assets and Liabilities, net (2.1)% |  | (29928) |
| Net Assets 100.0% |  | $1439461 |

---

------

<br> Schedule of Investments PIMCO RAE US Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(c)** | **Securities with an aggregate market value of $30,633 were out on loan in exchange for $31,265 of cash collateral as of September 30, 2025.** | **Securities with an aggregate market value of $30,633 were out on loan in exchange for $31,265 of cash collateral as of September 30, 2025.** | **Securities with an aggregate market value of $30,633 were out on loan in exchange for $31,265 of cash collateral as of September 30, 2025.** | **Securities with an aggregate market value of $30,633 were out on loan in exchange for $31,265 of cash collateral as of September 30, 2025.** | **Securities with an aggregate market value of $30,633 were out on loan in exchange for $31,265 of cash collateral as of September 30, 2025.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |
| **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** |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Communication Services | Communication Services | $1378 | $0 | $0 | $1378 |
| United States | United States | United States | United States | United States | United States |
| Communication Services | Communication Services | 140753 |  |  | 140753 |
| Consumer Discretionary | Consumer Discretionary | 129890 | 0 | 0 | 129890 |
| Consumer Staples | Consumer Staples | 167251 | 0 | 0 | 167251 |
| Energy | Energy | 150826 | 0 | 0 | 150826 |
| Financials | Financials | 136492 | 0 | 0 | 136492 |
| Health Care | Health Care | 219960 | 0 | 0 | 219960 |
| Industrials | Industrials | 113350 | 0 | 0 | 113350 |
| Information Technology | Information Technology | 264090 | 0 | 0 | 264090 |
| Materials | Materials | 54737 | 0 | 0 | 54737 |
| Real Estate | Real Estate | 10641 | 0 | 0 | 10641 |
| Utilities | Utilities | 28732 | 0 | 0 | 28732 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Real Estate | Real Estate | 16742 | 0 | 0 | 16742 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 251 | 0 | 251 |
|  |  | $1434842 | $251 | $0 | $1435093 |
| **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** | **Investments in Affiliates, at Value** |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 31265 | 0 | 0 | 31265 |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 3031 | 0 | 0 | 3031 |
|  |  | $34296 | $0 | $0 | $34296 |
| Total Investments | Total Investments | $1469138 | $251 | $0 | $1469389 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 98.8% ¤** |  |  |
| **COMMON STOCKS 91.0%**  |  |  |
| **IRELAND 1.3%**  |  |  |
| **HEALTH CARE 1.3%**  |  |  |
| **Jazz Pharmaceuticals PLC (a)** | 262732 | $34628 |
| Total Ireland |  | 34628 |
| **UNITED KINGDOM 2.8%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **IHS Holding Ltd. (a)** | 126686 | 864 |
| **CONSUMER DISCRETIONARY 1.0%**  |  |  |
| **Capri Holdings Ltd. (a)** | 1332903 | 26551 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Nomad Foods Ltd.** | 70020 | 921 |
| **FINANCIALS 1.7%**  |  |  |
| **Janus Henderson Group PLC** | 1039623 | 46274 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Pentair PLC** | 15648 | 1733 |
| Total United Kingdom |  | 76343 |
| **UNITED STATES 86.9%**  |  |  |
| **COMMUNICATION SERVICES 4.6%**  |  |  |
| **AMC Networks, Inc. Class A (a)** | 104188 | 858 |
| **Angi, Inc. (a)** | 47356 | 770 |
| **Cargurus, Inc. (a)** | 105823 | 3940 |
| **Gray Media, Inc.** | 286251 | 1655 |
| **John Wiley & Sons, Inc. Class A** | 202324 | 8188 |
| **Liberty Latin America Ltd. Class C (a)** | 972337 | 8206 |
| **Nexstar Media Group, Inc.** | 211327 | 41788 |
| **NII Holdings, Inc. «(a)** | 22836 | 0 |
| **Scholastic Corp.** | 292332 | 8004 |
| **Sinclair, Inc.** | 78522 | 1186 |
| **TEGNA, Inc.** | 426971 | 8680 |
| **Telephone & Data Systems, Inc.** | 343474 | 13478 |
| **Yelp, Inc. (a)** | 703193 | 21940 |
| **Ziff Davis, Inc. (a)** | 181008 | 6896 |
|  |  | 125589 |
| **CONSUMER DISCRETIONARY 18.1%**  |  |  |
| **Academy Sports & Outdoors, Inc.** | 329602 | 16487 |
| **Adient PLC (a)** | 277821 | 6690 |
| **ADT, Inc.** | 244635 | 2131 |
| **Adtalem Global Education, Inc. (a)** | 101508 | 15678 |
| **Bath & Body Works, Inc.** | 74432 | 1917 |
| **Boyd Gaming Corp.** | 208336 | 18011 |
| **Brunswick Corp.** | 161682 | 10225 |
| **Buckle, Inc.** | 67929 | 3985 |
| **Carter's, Inc.** | 907969 | 25623 |
| **Chegg, Inc. (a)** | 250092 | 378 |
| **Columbia Sportswear Co.** | 175670 | 9187 |
| **Cracker Barrel Old Country Store, Inc. (c)** | 345323 | 15215 |
| **Cricut, Inc. Class A** | 54501 | 343 |
| **Crocs, Inc. (a)** | 17241 | 1440 |
| **Dana, Inc.** | 98767 | 1979 |
| **Designer Brands, Inc. Class A (c)** | 327771 | 1160 |
| **Dillard's, Inc. Class A** | 133311 | 81917 |
| **Etsy, Inc. (a)** | 535300 | 35539 |
| **G-III Apparel Group Ltd. (a)** | 128787 | 3427 |
| **Genesco, Inc. (a)** | 62125 | 1801 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **GoPro** **, Inc. Class A (a)** | 825714 | 1750 |
| **Grand Canyon Education, Inc. (a)** | 64991 | 14267 |
| **Hanesbrands, Inc. (a)** | 5933469 | 39102 |
| **Hasbro, Inc.** | 46567 | 3532 |
| **Helen of Troy Ltd. (a)** | 344634 | 8685 |
| **iRobot Corp. (a)** | 377037 | 1354 |
| **Jack in the Box, Inc. (c)** | 88049 | 1741 |
| **Laureate Education, Inc. (a)** | 165926 | 5233 |
| **Leggett & Platt, Inc.** | 827405 | 7347 |
| **Marriott Vacations Worldwide Corp.** | 67514 | 4494 |
| **Monro, Inc.** | 79137 | 1422 |
| **Murphy USA, Inc.** | 102372 | 39747 |
| **National Vision Holdings, Inc. (a)** | 218114 | 6367 |
| **ODP Corp. (a)** | 779925 | 21721 |
| **Oxford Industries, Inc.** | 93405 | 3787 |
| **Patrick Industries, Inc.** | 16148 | 1670 |
| **Penn Entertainment, Inc. (a)** | 77870 | 1500 |
| **Phinia, Inc.** | 16934 | 973 |
| **Polaris, Inc.** | 43428 | 2524 |
| **Pool Corp.** | 5684 | 1762 |
| **RH (a)** | 8621 | 1751 |
| **Sally Beauty Holdings, Inc. (a)** | 498990 | 8124 |
| **Signet Jewelers Ltd.** | 26419 | 2534 |
| **Sleep Number Corp. (a)** | 133323 | 936 |
| **Smith & Wesson Brands, Inc.** | 143031 | 1406 |
| **Sonic Automotive, Inc. Class A** | 37568 | 2859 |
| **Sonos, Inc. (a)** | 346663 | 5477 |
| **Sturm Ruger & Co., Inc.** | 29595 | 1286 |
| **Taylor Morrison Home Corp. (a)** | 26141 | 1726 |
| **Tri Pointe Homes, Inc. (a)** | 491644 | 16701 |
| **Vail Resorts, Inc.** | 9276 | 1387 |
| **Valvoline, Inc. (a)** | 47244 | 1696 |
| **Victoria's Secret & Co. (a)** | 741148 | 20115 |
| **Winnebago Industries, Inc.** | 41531 | 1389 |
| **Wyndham Hotels & Resorts, Inc.** | 58857 | 4703 |
|  |  | 494201 |
| **CONSUMER STAPLES 2.6%**  |  |  |
| **Clorox Co.** | 10873 | 1341 |
| **Flowers Foods, Inc.** | 150097 | 1959 |
| **Fresh Del Monte Produce, Inc.** | 240568 | 8353 |
| **Hain Celestial Group, Inc. (a)** | 182560 | 288 |
| **Ingles Markets, Inc. Class A** | 143271 | 9966 |
| **Ingredion, Inc.** | 19382 | 2367 |
| **Medifast, Inc. (a)** | 40825 | 558 |
| **Nu Skin Enterprises, Inc. Class A** | 114226 | 1392 |
| **Oil-Dri Corp. of America** | 6433 | 393 |
| **Spectrum Brands Holdings, Inc.** | 29627 | 1556 |
| **Sprouts Farmers Market, Inc. (a)** | 184526 | 20076 |
| **United Natural Foods, Inc. (a)** | 171853 | 6465 |
| **Universal Corp.** | 79674 | 4451 |
| **USANA Health Sciences, Inc. (a)** | 37458 | 1032 |
| **Weis Markets, Inc.** | 155149 | 11151 |
|  |  | 71348 |
| **ENERGY 2.8%**  |  |  |
| **Berry Corp.** | 101150 | 382 |
| **California Resources Corp.** | 38843 | 2066 |
| **Chord Energy Corp.** | 18557 | 1844 |
| **CNX Resources Corp. (a)** | 91768 | 2948 |
| **CVR Energy, Inc.** | 346233 | 12630 |
| **Delek U.S. Holdings, Inc.** | 1113750 | 35941 |
| **Helmerich & Payne, Inc.** | 289069 | 6385 |
| **Murphy Oil Corp.** | 384005 | 10910 |
| **Peabody Energy Corp.** | 112575 | 2985 |
|  |  | 76091 |
| **FINANCIALS 13.9%**  |  |  |
| **Acadian Asset Management, Inc.** | 51546 | 2483 |
| **Affiliated Managers Group, Inc.** | 206042 | 49127 |
| **B Riley Financial, Inc. (a)(c)** | 139654 | 834 |
| **BankUnited, Inc.** | 290730 | 11094 |
| **Banner Corp.** | 30809 | 2018 |
| **Bread Financial Holdings, Inc.** | 643878 | 35909 |
| **CNO Financial Group, Inc.** | 633048 | 25037 |
| **Credit Acceptance Corp. (a)** | 21923 | 10237 |
| **Eagle Bancorp, Inc.** | 45168 | 913 |
| **Employers Holdings, Inc.** | 30802 | 1309 |
| **Encore Capital Group, Inc. (a)** | 159438 | 6655 |
| **Euronet Worldwide, Inc. (a)** | 12396 | 1089 |
| **Evercore, Inc. Class A** | 12387 | 4178 |
| **Federated Hermes, Inc.** | 429216 | 22289 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **First** **Hawaiian, Inc.** | 32677 | 811 |
| **Flagstar Financial, Inc.** | 137522 | 1588 |
| **Genworth Financial, Inc. (a)** | 752198 | 6695 |
| **Hanover Insurance Group, Inc.** | 33362 | 6060 |
| **Hilltop Holdings, Inc.** | 68056 | 2274 |
| **Jackson Financial, Inc. Class A** | 170436 | 17253 |
| **MGIC Investment Corp.** | 709579 | 20131 |
| **Navient Corp.** | 527670 | 6939 |
| **PennyMac Financial Services, Inc.** | 32830 | 4067 |
| **PROG Holdings, Inc.** | 645618 | 20892 |
| **Radian Group, Inc.** | 359246 | 13012 |
| **SEI Investments Co.** | 127156 | 10789 |
| **SLM Corp.** | 1559008 | 43153 |
| **Stewart Information Services Corp.** | 16657 | 1221 |
| **Synovus Financial Corp.** | 29772 | 1461 |
| **Virtu Financial, Inc. Class A** | 509639 | 18092 |
| **Western Union Co.** | 3623202 | 28949 |
| **World Acceptance Corp. (a)** | 8990 | 1521 |
|  |  | 378080 |
| **HEALTH CARE 6.2%**  |  |  |
| **AdaptHealth Corp. (a)** | 158888 | 1422 |
| **AMN Healthcare Services, Inc. (a)** | 510336 | 9880 |
| **Avanos Medical, Inc. (a)** | 45176 | 522 |
| **Bio-Rad Laboratories, Inc. Class A (a)** | 50265 | 14094 |
| **BrightSpring Health Services, Inc. (a)** | 125425 | 3708 |
| **Claritev Corp. (a)** | 21781 | 1156 |
| **Community Health Systems, Inc. (a)** | 494763 | 1588 |
| **Cross Country Healthcare, Inc. (a)** | 53738 | 763 |
| **Dentsply Sirona, Inc.** | 1026032 | 13020 |
| **Embecta Corp.** | 111200 | 1569 |
| **Emergent BioSolutions, Inc. (a)** | 214166 | 1889 |
| **Envista Holdings Corp. (a)** | 430097 | 8761 |
| **Exelixis, Inc. (a)** | 527575 | 21789 |
| **Fortrea Holdings, Inc. (a)** | 232688 | 1959 |
| **Fulgent Genetics, Inc. (a)** | 70092 | 1584 |
| **Ginkgo Bioworks Holdings, Inc. (a)(c)** | 147998 | 2158 |
| **GRAIL, Inc. (a)(c)** | 223374 | 13208 |
| **ICU Medical, Inc. (a)** | 8100 | 972 |
| **Innoviva, Inc. (a)** | 154028 | 2811 |
| **Integra LifeSciences Holdings Corp. (a)** | 329678 | 4724 |
| **Novavax, Inc. (a)(c)** | 1068450 | 9263 |
| **Owens & Minor, Inc. (a)** | 1120187 | 5377 |
| **Pediatrix Medical Group, Inc. (a)** | 122688 | 2055 |
| **Premier, Inc. Class A** | 813133 | 22605 |
| **QuidelOrtho Corp. (a)** | 350952 | 10336 |
| **Revvity, Inc.** | 21005 | 1841 |
| **Teladoc Health, Inc. (a)** | 1224777 | 9468 |
| **Vir Biotechnology, Inc. (a)** | 205565 | 1174 |
| **Zimvie, Inc. (a)** | 18093 | 343 |
|  |  | 170039 |
| **INDUSTRIALS 16.8%**  |  |  |
| **A.O. Smith Corp.** | 175417 | 12877 |
| **ABM Industries, Inc.** | 40838 | 1883 |
| **ACCO Brands Corp.** | 94965 | 379 |
| **Acuity, Inc.** | 158213 | 54487 |
| **Alaska Air Group, Inc. (a)** | 35431 | 1764 |
| **Allison Transmission Holdings, Inc.** | 541531 | 45965 |
| **Apogee Enterprises, Inc.** | 204602 | 8915 |
| **ArcBest Corp.** | 67856 | 4741 |
| **Atkore, Inc.** | 23144 | 1452 |
| **BlueLinx Holdings, Inc. (a)** | 20638 | 1508 |
| **Boise Cascade Co.** | 75616 | 5847 |
| **Brady Corp. Class A** | 101518 | 7921 |
| **CACI International, Inc. Class A (a)** | 4180 | 2085 |
| **Conduent, Inc. (a)** | 134138 | 376 |
| **CoreCivic, Inc. (a)** | 1401185 | 28514 |
| **CSG Systems International, Inc.** | 128072 | 8245 |
| **Deluxe Corp.** | 68256 | 1321 |
| **DNOW, Inc. (a)** | 694128 | 10586 |
| **Donaldson Co., Inc.** | 20957 | 1715 |
| **EnerSys** | 60791 | 6867 |
| **Forward Air Corp. (a)** | 242927 | 6229 |
| **Gates Industrial Corp. PLC (a)** | 61742 | 1532 |
| **Genpact Ltd.** | 477812 | 20016 |
| **GEO Group, Inc. (a)** | 895658 | 18352 |
| **GrafTech International Ltd. (a)** | 31712 | 407 |
| **Healthcare Services Group, Inc. (a)** | 127188 | 2141 |
| **Hub Group, Inc. Class A** | 52829 | 1819 |
| **IDEX Corp.** | 9348 | 1522 |
| **JELD-WEN Holding, Inc. (a)** | 343262 | 1685 |
| **Kelly Services, Inc. Class A** | 63659 | 835 |
| **Kennametal, Inc.** | 402400 | 8422 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Kforce** **, Inc.** | 30306 | 909 |
| **Korn Ferry** | 58701 | 4108 |
| **Landstar System, Inc.** | 219949 | 26957 |
| **Lincoln Electric Holdings, Inc.** | 8364 | 1973 |
| **Marten Transport Ltd.** | 35867 | 382 |
| **Masterbrand, Inc. (a)** | 187416 | 2468 |
| **Matson, Inc.** | 18586 | 1832 |
| **Maximus, Inc.** | 180743 | 16515 |
| **Middleby Corp. (a)** | 10093 | 1342 |
| **MSC Industrial Direct Co., Inc. Class A** | 147960 | 13633 |
| **Resideo Technologies, Inc. (a)** | 61085 | 2638 |
| **Schneider National, Inc. Class B** | 118159 | 2500 |
| **Science Applications International Corp.** | 166674 | 16562 |
| **Sensata Technologies Holding PLC** | 836902 | 25567 |
| **SkyWest, Inc. (a)** | 218606 | 21996 |
| **Steelcase, Inc. Class A** | 637403 | 10963 |
| **Toro Co.** | 28609 | 2180 |
| **TriNet Group, Inc.** | 62477 | 4179 |
| **UFP Industries, Inc.** | 21523 | 2012 |
| **Valmont Industries, Inc.** | 26447 | 10254 |
| **Vestis Corp.** | 534381 | 2421 |
| **Wabash National Corp.** | 349472 | 3449 |
| **Watsco, Inc.** | 3131 | 1266 |
| **Werner Enterprises, Inc.** | 435890 | 11473 |
| **WillScot Holdings Corp.** | 57074 | 1205 |
|  |  | 459192 |
| **INFORMATION TECHNOLOGY 13.2%**  |  |  |
| **Amkor Technology, Inc.** | 254785 | 7236 |
| **ASGN, Inc. (a)** | 188718 | 8936 |
| **Belden, Inc.** | 19221 | 2312 |
| **Benchmark Electronics, Inc.** | 292382 | 11271 |
| **Ciena Corp. (a)** | 33078 | 4818 |
| **Cirrus Logic, Inc. (a)** | 229798 | 28791 |
| **CommScope Holding Co., Inc. (a)** | 1039375 | 16090 |
| **Diodes, Inc. (a)** | 111056 | 5909 |
| **Dolby Laboratories, Inc. Class A** | 24468 | 1771 |
| **Dropbox, Inc. Class A (a)** | 1314288 | 39705 |
| **F5, Inc. (a)** | 98943 | 31977 |
| **InterDigital, Inc.** | 55373 | 19116 |
| **IPG Photonics Corp. (a)** | 152238 | 12056 |
| **LiveRamp Holdings, Inc. (a)** | 197956 | 5373 |
| **MaxLinear, Inc. (a)** | 270494 | 4350 |
| **NCR Voyix Corp. (a)** | 186839 | 2345 |
| **NETGEAR, Inc. (a)** | 82102 | 2659 |
| **NetScout Systems, Inc. (a)** | 753729 | 19469 |
| **PC Connection, Inc.** | 38544 | 2389 |
| **Progress Software Corp. (a)** | 65999 | 2899 |
| **Sanmina Corp. (a)** | 536381 | 61743 |
| **Silicon Laboratories, Inc. (a)** | 71331 | 9354 |
| **Synaptics, Inc. (a)** | 40404 | 2761 |
| **Teradata Corp. (a)** | 997413 | 21454 |
| **Viavi Solutions, Inc. (a)** | 1107239 | 14051 |
| **Vishay Intertechnology, Inc.** | 1226662 | 18768 |
| **Vontier Corp.** | 35711 | 1499 |
|  |  | 359102 |
| **MATERIALS 4.8%**  |  |  |
| **Alpha Metallurgical Resources, Inc. (a)** | 15879 | 2606 |
| **Avery Dennison Corp.** | 9306 | 1509 |
| **Chemours Co.** | 422503 | 6692 |
| **Clearwater Paper Corp. (a)** | 20129 | 418 |
| **Commercial Metals Co.** | 62588 | 3585 |
| **Ecovyst, Inc. (a)** | 246458 | 2159 |
| **Greif, Inc. Class A** | 72621 | 4340 |
| **Ingevity Corp. (a)** | 23427 | 1293 |
| **NewMarket Corp.** | 17898 | 14823 |
| **RPM International, Inc.** | 18705 | 2205 |
| **Ryerson Holding Corp.** | 190962 | 4365 |
| **Sonoco Products Co.** | 61913 | 2668 |
| **Sylvamo Corp.** | 298929 | 13219 |
| **Warrior Met Coal, Inc.** | 1098332 | 69898 |
|  |  | 129780 |
| **REAL ESTATE 2.0%**  |  |  |
| **Anywhere Real Estate, Inc. (a)** | 203314 | 2153 |
| **Cushman & Wakefield PLC (a)** | 552930 | 8803 |
| **eXp World Holdings, Inc.** | 450451 | 4801 |
| **Newmark Group, Inc. Class A** | 255993 | 4774 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Opendoor** **Technologies, Inc. (a)(c)** | 4356300 | 34720 |
|  |  | 55251 |
| **UTILITIES 1.9%**  |  |  |
| **ALLETE, Inc.** | 81934 | 5440 |
| **Black Hills Corp.** | 26492 | 1632 |
| **Clearway Energy, Inc. Class C** | 88824 | 2509 |
| **Hawaiian Electric Industries, Inc. (a)** | 735076 | 8115 |
| **National Fuel Gas Co.** | 57210 | 5285 |
| **OGE Energy Corp.** | 453944 | 21004 |
| **ONE Gas, Inc.** | 79048 | 6398 |
| **Portland General Electric Co.** | 25254 | 1111 |
| **Spire, Inc.** | 16791 | 1369 |
|  |  | 52863 |
| Total United States |  | 2371536 |
| Total Common Stocks (Cost $2,127,424) |  | 2482507 |
| **REAL ESTATE INVESTMENT TRUSTS 7.8%**  |  |  |
| **UNITED STATES 7.8%**  |  |  |
| **REAL ESTATE 7.8%**  |  |  |
| **Alexander & Baldwin, Inc.** | 396676 | 7216 |
| **Apollo Commercial Real Estate Finance, Inc.** | 235823 | 2389 |
| **Apple Hospitality REIT, Inc.** | 396563 | 4763 |
| **Brandywine Realty Trust** | 502209 | 2094 |
| **BrightSpire Capital, Inc.** | 163335 | 887 |
| **Brixmor Property Group, Inc.** | 66279 | 1835 |
| **Chimera Investment Corp.** | 1260794 | 16668 |
| **COPT Defense Properties** | 270564 | 7863 |
| **DiamondRock Hospitality Co.** | 313296 | 2494 |
| **Douglas Emmett, Inc.** | 129469 | 2016 |
| **EPR Properties** | 235468 | 13660 |
| **Essex Property Trust, Inc.** | 6248 | 1672 |
| **Healthcare Realty Trust, Inc.** | 140512 | 2533 |
| **Highwoods Properties, Inc.** | 103967 | 3308 |
| **Hudson Pacific Properties, Inc.** | 239240 | 660 |
| **JBG SMITH Properties** | 564391 | 12558 |
| **Ladder Capital Corp.** | 482677 | 5266 |
| **Medical Properties Trust, Inc. (c)** | 5088993 | 25801 |
| **MFA Financial, Inc.** | 598794 | 5503 |
| **National Health Investors, Inc.** | 5526 | 439 |
| **New York REIT, Inc. «(a)** | 4082 | 0 |
| **Park Hotels & Resorts, Inc.** | 2975166 | 32965 |
| **Pebblebrook Hotel Trust** | 449620 | 5121 |
| **Rithm Capital Corp.** | 692310 | 7885 |
| **RLJ Lodging Trust** | 1648342 | 11868 |
| **Sabra Health Care REIT, Inc.** | 150912 | 2813 |
| **Service Properties Trust** | 2218854 | 6013 |
| **SL Green Realty Corp.** | 227285 | 13594 |
| **Sunstone Hotel Investors, Inc.** | 290533 | 2722 |
| **Vornado Realty Trust** | 79603 | 3226 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Xenia** **Hotels & Resorts, Inc.** | 618635 | 8488 |
|  |  | 214320 |
| Total Real Estate Investment Trusts (Cost $209,140) |  | 214320 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200% (d) | 206815 | 207 |
| Total Mutual Funds (Cost $206) |  | 207 |
| Total Short-Term Instruments (Cost $206) |  | 207 |
| Total Investments in Securities (Cost $2,336,770) |  | 2697034 |
| **INVESTMENTS IN AFFILIATES 3.8%**  |  |  |
| **SHORT-TERM INSTRUMENTS 3.8%**  |  |  |
| **MUTUAL FUNDS 3.5%**  |  |  |
| **PIMCO Government Money Market Fund** <br> 4.290% (b)(c)(d) | 94206370 | 94206 |
| Total Mutual Funds (Cost $94,206) |  | 94206 |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 0.3%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 878034 | 8552 |
| Total Short-Term Instruments (Cost $102,757) |  | 102758 |
| Total Investments in Affiliates (Cost $102,757) |  | 102758 |
| Total Investments 102.6% (Cost $2,439,527) |  | $2799792 |
| Other Assets and Liabilities, net (2.6)% |  | (71115) |
| Net Assets 100.0% |  | $2728677 |

---

------

<br> Schedule of Investments PIMCO RAE US Small Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(c)** | **Securities with an aggregate market value of $91,750 were out on loan in exchange for $93,923 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $91,750 were out on loan in exchange for $93,923 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $91,750 were out on loan in exchange for $93,923 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $91,750 were out on loan in exchange for $93,923 of cash collateral as of September 30, 2025.**  |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Fair Value<br>at 09/30/2025 |
| **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** |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Ireland | Ireland | Ireland | Ireland | Ireland |
|  | Health Care | $34628 | $0 | $34628 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
|  | Communication Services | 864 | 0 | 864 |
|  | Consumer Discretionary | 26551 | 0 | 26551 |
|  | Consumer Staples | 921 | 0 | 921 |
|  | Financials | 46274 | 0 | 46274 |
|  | Industrials | 1733 | 0 | 1733 |
| United States | United States | United States | United States | United States |
|  | Communication Services | 125589 | 0 | 125589 |
|  | Consumer Discretionary | 494201 | 0 | 494201 |
|  | Consumer Staples | 71348 | 0 | 71348 |
|  | Energy | 76091 | 0 | 76091 |
|  | Financials | 378080 | 0 | 378080 |
|  | Health Care | 170039 | 0 | 170039 |
|  | Industrials | 459192 | 0 | 459192 |
|  | Information Technology | 359102 | 0 | 359102 |
|  | Materials | 129780 | 0 | 129780 |
|  | Real Estate | 55251 | 0 | 55251 |
|  | Utilities | 52863 | 0 | 52863 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| United States | United States | United States | United States | United States |
|  | Real Estate | 214320 | 0 | 214320 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 207 | 207 |
|  |  | 2696827 | $207 | $2697034 |
| **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 |
| Mutual Funds | Mutual Funds | 94207 | 0 | 94207 |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 8551 | 0 | 8551 |
|  |  | 102758 | $0 | $102758 |
| Total Investments | Total Investments | 2799585 | $207 | $2799792 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.5% ¤** |  |  |
| **COMMON STOCKS 96.5%**  |  |  |
| **BRAZIL 3.4%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Telefonica Brasil SA** | 34320 | $220 |
| **TIM SA** | 28900 | 127 |
|  |  | 347 |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **Ultrapar Participacoes SA** | 28588 | 118 |
| **Vibra Energia SA** | 54932 | 254 |
|  |  | 372 |
| **CONSUMER STAPLES 0.8%**  |  |  |
| **Ambev SA** | 41000 | 93 |
| **JBS NV (a)** | 40673 | 609 |
| **MBRF Global Foods Co. SA** | 35400 | 129 |
|  |  | 831 |
| **FINANCIALS 0.4%**  |  |  |
| **B3 SA - Brasil Bolsa Balcao** | 107802 | 271 |
| **Banco BTG Pactual SA** | 10100 | 92 |
| **Banco Santander Brasil SA** | 12900 | 71 |
| **BB Seguridade Participacoes SA** | 1997 | 13 |
| **Porto Seguro SA** | 2600 | 24 |
|  |  | 471 |
| **HEALTH CARE 0.1%**  |  |  |
| **Rede D'Or Sao Luiz SA** | 6300 | 50 |
| **INDUSTRIALS 0.1%**  |  |  |
| **WEG SA** | 9081 | 62 |
| **MATERIALS 1.1%**  |  |  |
| **Cia Siderurgica Nacional SA** | 27677 | 41 |
| **Klabin SA** | 42829 | 145 |
| **Suzano SA** | 28992 | 272 |
| **Vale SA** | 69600 | 753 |
|  |  | 1211 |
| **UTILITIES 0.3%**  |  |  |
| **Centrais Eletricas Brasileiras SA** | 12500 | 123 |
| **Cia de Saneamento Basico do Estado de Sao Paulo SABESP** | 4500 | 112 |
| **CPFL Energia SA** | 3900 | 29 |
| **Energisa SA** | 8200 | 78 |
| **Engie Brasil Energia SA** | 4835 | 37 |
|  |  | 379 |
| Total Brazil |  | 3723 |
| **CAYMAN ISLANDS 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Sunac China Holdings Ltd.** | 515000 | 112 |
| Total Cayman Islands |  | 112 |
| **CHILE 0.9%**  |  |  |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Empresas Copec SA** | 6541 | 48 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Falabella** **SA** | 19043 | 113 |
|  |  | 161 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **Cencosud SA** | 48444 | 138 |
| **Cia Cervecerias Unidas SA** | 10997 | 67 |
|  |  | 205 |
| **FINANCIALS 0.4%**  |  |  |
| **Banco de Chile** | 1546118 | 235 |
| **Banco de Credito e Inversiones SA** | 1126 | 50 |
| **Banco Itau Chile SA** | 938 | 14 |
| **Banco Santander Chile** | 2794344 | 185 |
|  |  | 484 |
| **MATERIALS 0.0%**  |  |  |
| **Empresas CMPC SA** | 18936 | 28 |
| **UTILITIES 0.1%**  |  |  |
| **Colbun SA** | 88431 | 14 |
| **Enel Americas SA** | 229447 | 23 |
| **Enel Chile SA** | 729001 | 57 |
|  |  | 94 |
| Total Chile |  | 972 |
| **CHINA 28.7%**  |  |  |
| **COMMUNICATION SERVICES 2.5%**  |  |  |
| **China United Network Communications Ltd. Class A** | 284200 | 220 |
| **Focus Media Information Technology Co. Ltd. Class A** | 46000 | 52 |
| **Kuaishou Technology** | 20300 | 220 |
| **NetEase, Inc.** | 42015 | 1276 |
| **Tencent Holdings Ltd.** | 7100 | 605 |
| **Tencent Music Entertainment Group Class A** | 29888 | 350 |
|  |  | 2723 |
| **CONSUMER DISCRETIONARY 2.0%**  |  |  |
| **ANTA Sports Products Ltd.** | 3600 | 43 |
| **BAIC Motor Corp. Ltd. Class H** | 118000 | 32 |
| **China Tourism Group Duty Free Corp. Ltd. Class H** | 2500 | 21 |
| **China Yongda Automobiles Services Holdings Ltd.** | 100000 | 25 |
| **Dongfeng Motor Group Co. Ltd. Class H** | 310000 | 358 |
| **Gree Electric Appliances, Inc. of Zhuhai Class A** | 6800 | 38 |
| **Huayu Automotive Systems Co. Ltd. Class A** | 29900 | 86 |
| **Li Auto, Inc. Class A (a)** | 15700 | 201 |
| **Li Ning Co. Ltd.** | 24500 | 56 |
| **SAIC Motor Corp. Ltd. Class A** | 73100 | 176 |
| **Shanghai Yuyuan Tourist Mart Group Co. Ltd. Class A** | 33800 | 27 |
| **Sichuan Changhong Electric Co. Ltd. Class A** | 35300 | 52 |
| **Tianneng Power International Ltd.** | 56000 | 70 |
| **Topsports International Holdings Ltd.** | 102000 | 41 |
| **Vipshop Holdings Ltd. ADR** | 21206 | 417 |
| **Wuchan Zhongda Group Co. Ltd. Class A** | 148500 | 126 |
| **Yum China Holdings, Inc.** | 7818 | 336 |
| **Zhongsheng Group Holdings Ltd.** | 37500 | 70 |
|  |  | 2175 |
| **CONSUMER STAPLES 1.2%**  |  |  |
| **China Feihe Ltd.** | 193000 | 99 |
| **China Mengniu Dairy Co. Ltd.** | 42000 | 81 |
| **Foshan Haitian Flavouring & Food Co. Ltd. Class A** | 3300 | 18 |
| **Guangdong Haid Group Co. Ltd. Class A** | 3200 | 29 |
| **Henan Shuanghui Investment & Development Co. Ltd. Class A** | 11700 | 41 |
| **Hengan International Group Co. Ltd.** | 26000 | 85 |
| **JD Health International, Inc. (a)** | 12150 | 103 |
| **Kweichow Moutai Co. Ltd. Class A** | 600 | 122 |
| **Luzhou Laojiao Co. Ltd. Class A** | 1700 | 32 |
| **Muyuan Foods Co. Ltd. Class A** | 9000 | 67 |
| **New Hope Liuhe Co. Ltd. Class A** | 27600 | 38 |
| **Nongfu Spring Co. Ltd. Class H** | 33800 | 234 |
| **Tingyi Cayman Islands Holding Corp.** | 126000 | 168 |
| **Uni-President China Holdings Ltd.** | 70000 | 74 |
| **Wens Foodstuff Group Co. Ltd. Class A** | 31300 | 82 |
| **Wuliangye Yibin Co. Ltd. Class A** | 4000 | 68 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Yonghui** **Superstores Co. Ltd. Class A** | 41700 | 27 |
|  |  | 1368 |
| **ENERGY 1.4%**  |  |  |
| **China Petroleum & Chemical Corp. Class H** | 640000 | 332 |
| **China Shenhua Energy Co. Ltd. Class H** | 102000 | 487 |
| **Guanghui Energy Co. Ltd. Class A** | 22700 | 16 |
| **PetroChina Co. Ltd. Class H** | 342000 | 310 |
| **Shaanxi Coal Industry Co. Ltd. Class A** | 37200 | 105 |
| **Shanxi Coking Coal Energy Group Co. Ltd. Class A** | 27000 | 26 |
| **Shanxi Lu'an Environmental Energy Development Co. Ltd. Class A** | 6900 | 14 |
| **Yankuang Energy Group Co. Ltd. Class H** | 212700 | 278 |
|  |  | 1568 |
| **FINANCIALS 9.5%**  |  |  |
| **Agricultural Bank of China Ltd. Class H** | 1066000 | 717 |
| **Bank of Beijing Co. Ltd. Class A** | 213200 | 165 |
| **Bank of Changsha Co. Ltd. Class A** | 46700 | 58 |
| **Bank of Chengdu Co. Ltd. Class A** | 24000 | 58 |
| **Bank of China Ltd. Class H** | 1557000 | 851 |
| **Bank of Chongqing Co. Ltd. Class H** | 45500 | 43 |
| **Bank of Communications Co. Ltd. Class H** | 200000 | 168 |
| **Bank of Guiyang Co. Ltd. Class A** | 89200 | 72 |
| **Bank of Hangzhou Co. Ltd. Class A** | 33000 | 71 |
| **Bank of Jiangsu Co. Ltd. Class A** | 207400 | 292 |
| **Bank of Nanjing Co. Ltd. Class A** | 66600 | 102 |
| **Bank of Shanghai Co. Ltd. Class A** | 128600 | 162 |
| **China Cinda Asset Management Co. Ltd. Class H** | 1203000 | 210 |
| **China CITIC Bank Corp. Ltd. Class H** | 418000 | 359 |
| **China Construction Bank Corp. Class H** | 995000 | 954 |
| **China Everbright Bank Co. Ltd. Class H** | 569000 | 237 |
| **China Galaxy Securities Co. Ltd. Class H** | 55000 | 83 |
| **China International Capital Corp. Ltd. Class H** | 24000 | 66 |
| **China Life Insurance Co. Ltd. Class H** | 108000 | 306 |
| **China Merchants Bank Co. Ltd. Class H** | 74000 | 443 |
| **China Merchants Securities Co. Ltd. Class H** | 19400 | 43 |
| **China Minsheng Banking Corp. Ltd. Class H** | 798500 | 421 |
| **China Pacific Insurance Group Co. Ltd. Class H** | 34800 | 138 |
| **China Reinsurance Group Corp. Class H** | 249000 | 50 |
| **China Zheshang Bank Co. Ltd. Class H** | 525000 | 174 |
| **Chongqing Rural Commercial Bank Co. Ltd. Class H** | 358000 | 276 |
| **CITIC Securities Co. Ltd. Class H** | 52500 | 207 |
| **CNPC Capital Co. Ltd. Class A** | 26300 | 39 |
| **CSC Financial Co. Ltd. Class H** | 21500 | 39 |
| **East Money Information Co. Ltd.** | 33700 | 129 |
| **GF Securities Co. Ltd. Class H** | 22600 | 59 |
| **Guosen Securities Co. Ltd. Class A** | 17100 | 33 |
| **Guotai Haitong Securities Co. Ltd. Class H** | 41560 | 85 |
| **Huatai Securities Co. Ltd. Class H** | 34400 | 91 |
| **Huaxia Bank Co. Ltd. Class A** | 107600 | 100 |
| **Industrial & Commercial Bank of China Ltd. Class H** | 1191000 | 877 |
| **Industrial Bank Co. Ltd. Class A** | 107200 | 299 |
| **Lufax Holding Ltd. ADR (a)** | 30208 | 123 |
| **New China Life Insurance Co. Ltd. Class H** | 14000 | 83 |
| **Orient Securities Co. Ltd. Class H** | 32000 | 33 |
| **People's Insurance Co. Group of China Ltd. Class H** | 134000 | 117 |
| **PICC Property & Casualty Co. Ltd. Class H** | 90000 | 203 |
| **Ping An Insurance Group Co. of China Ltd. Class H** | 151500 | 1031 |
| **Postal Savings Bank of China Co. Ltd. Class H** | 121000 | 85 |
| **Shanghai Pudong Development Bank Co. Ltd. Class A** | 174200 | 292 |
| **Shanghai Rural Commercial Bank Co. Ltd. Class A** | 49000 | 56 |
|  |  | 10500 |
| **HEALTH CARE 0.9%**  |  |  |
| **China Resources Pharmaceutical Group Ltd.** | 121500 | 75 |
| **CSPC Pharmaceutical Group Ltd.** | 425680 | 513 |
| **Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A** | 1700 | 17 |
| **Jointown Pharmaceutical Group Co. Ltd. Class A** | 43743 | 30 |
| **Shanghai Fosun Pharmaceutical Group Co. Ltd.** | 8000 | 26 |
| **Shanghai Pharmaceuticals Holding Co. Ltd. Class H** | 6700 | 11 |
| **Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A** | 700 | 24 |
| **Sinopharm Group Co. Ltd. Class H** | 68000 | 160 |
| **WuXi AppTec Co. Ltd. Class H** | 9300 | 142 |
| **Yunnan Baiyao Group Co. Ltd. Class A** | 2900 | 23 |
|  |  | 1021 |
| **INDUSTRIALS 3.4%**  |  |  |
| **AECC Aviation Power Co. Ltd. Class A** | 6500 | 39 |
| **Air China Ltd. Class H (a)** | 32000 | 24 |
| **Bohai Leasing Co. Ltd. Class A (a)** | 88400 | 44 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **China** **Communications Services Corp. Ltd. Class H** | 108000 | 64 |
| **China CSSC Holdings Ltd. Class A** | 4600 | 22 |
| **China Energy Engineering Corp. Ltd. Class H** | 546000 | 83 |
| **China International Marine Containers Group Co. Ltd. Class H** | 193600 | 207 |
| **China Lesso Group Holdings Ltd. Class L** | 54000 | 34 |
| **China Railway Group Ltd. Class H** | 308000 | 155 |
| **China State Construction Engineering Corp. Ltd. Class A** | 354700 | 272 |
| **CITIC Ltd.** | 274000 | 401 |
| **Contemporary Amperex Technology Co. Ltd. Class A** | 6300 | 357 |
| **COSCO SHIPPING Development Co. Ltd.** | 284000 | 42 |
| **COSCO SHIPPING Holdings Co. Ltd. Class H** | 280000 | 435 |
| **Daqin Railway Co. Ltd. Class A** | 183700 | 152 |
| **Fosun International Ltd.** | 45000 | 32 |
| **Goldwind Science & Technology Co. Ltd. Class H** | 13400 | 24 |
| **JD Logistics, Inc. (a)** | 17000 | 29 |
| **Jiangsu Expressway Co. Ltd. Class H** | 78000 | 90 |
| **Metallurgical Corp. of China Ltd. Class H** | 459000 | 160 |
| **NARI Technology Co. Ltd. Class A** | 11500 | 37 |
| **Power Construction Corp. of China Ltd. Class A** | 182000 | 143 |
| **Qingdao Port International Co. Ltd. Class H** | 41000 | 38 |
| **Sany Heavy Industry Co. Ltd. Class A** | 38000 | 124 |
| **SF Holding Co. Ltd.** | 2800 | 16 |
| **Shanghai Construction Group Co. Ltd. Class A** | 215600 | 89 |
| **Shanghai Electric Group Co. Ltd. Class H (a)** | 26000 | 14 |
| **Shanghai International Port Group Co. Ltd. Class A** | 25100 | 19 |
| **Shanghai Tunnel Engineering Co. Ltd. Class A** | 77400 | 70 |
| **Sichuan Road & Bridge Group Co. Ltd. Class A** | 15380 | 17 |
| **Sinopec Engineering Group Co. Ltd. Class H** | 66500 | 58 |
| **Sinotrans Ltd. Class H** | 118000 | 74 |
| **Sinotruk Hong Kong Ltd.** | 24500 | 72 |
| **Weichai Power Co. Ltd. Class H** | 24000 | 43 |
| **Xiamen C & D, Inc. Class A** | 53900 | 78 |
| **Xiamen ITG Group Corp. Ltd. Class A** | 70300 | 61 |
| **Yutong Bus Co. Ltd. Class A** | 8000 | 31 |
| **Zhejiang Expressway Co. Ltd. Class H** | 96000 | 89 |
| **Zhejiang Huayou Cobalt Co. Ltd.** | 3500 | 32 |
|  |  | 3771 |
| **INFORMATION TECHNOLOGY 2.1%**  |  |  |
| **360 Security Technology, Inc. Class A** | 22400 | 36 |
| **Avary Holding Shenzhen Co. Ltd. Class A** | 13900 | 110 |
| **China Railway Signal & Communication Corp. Ltd. Class H** | 167000 | 75 |
| **Foxconn Industrial Internet Co. Ltd. Class A** | 44300 | 414 |
| **IEIT Systems Co. Ltd. Class A** | 3000 | 31 |
| **Lenovo Group Ltd.** | 332000 | 492 |
| **Sunny Optical Technology Group Co. Ltd.** | 33100 | 384 |
| **Tianma Microelectronics Co. Ltd. Class A** | 36800 | 51 |
| **Xiaomi Corp. Class B (a)** | 86800 | 603 |
| **ZTE Corp. Class H** | 21200 | 97 |
|  |  | 2293 |
| **MATERIALS 3.6%**  |  |  |
| **Aluminum Corp. of China Ltd. Class H** | 408000 | 422 |
| **Angang Steel Co. Ltd. Class H** | 142000 | 41 |
| **Anhui Conch Cement Co. Ltd. Class H** | 166500 | 501 |
| **Baoshan Iron & Steel Co. Ltd. Class A** | 167600 | 167 |
| **BBMG Corp. Class H** | 169000 | 18 |
| **China Hongqiao Group Ltd.** | 297000 | 1006 |
| **China National Building Material Co. Ltd. Class H** | 282000 | 200 |
| **CMOC Group Ltd. Class H** | 54000 | 109 |
| **Ganfeng Lithium Group Co. Ltd. Class H** | 6600 | 37 |
| **Hengli Petrochemical Co. Ltd. Class A** | 18800 | 45 |
| **Huaxin Cement Co. Ltd. Class H** | 51100 | 103 |
| **Hunan Valin Steel Co. Ltd. Class A** | 78600 | 72 |
| **Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A** | 45900 | 34 |
| **Jiangxi Copper Co. Ltd. Class H** | 89000 | 349 |
| **Luxi Chemical Group Co. Ltd. Class A** | 17600 | 36 |
| **Maanshan Iron & Steel Co. Ltd. Class H** | 260000 | 89 |
| **Nanjing Iron & Steel Co. Ltd. Class A** | 75400 | 56 |
| **Shandong Gold Mining Co. Ltd. Class H** | 11250 | 53 |
| **Sinopec Shanghai Petrochemical Co. Ltd. Class H** | 180000 | 31 |
| **Tianqi Lithium Corp. Class H** | 4800 | 28 |
| **Tongling Nonferrous Metals Group Co. Ltd. Class A** | 103900 | 78 |
| **Zhejiang NHU Co. Ltd. Class A** | 8700 | 29 |
| **Zhongjin Gold Corp. Ltd. Class A** | 10100 | 31 |
| **Zijin Mining Group Co. Ltd. Class H** | 100000 | 418 |
|  |  | 3953 |
| **REAL ESTATE 1.0%**  |  |  |
| **China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A** | 32600 | 47 |
| **China Vanke Co. Ltd. Class H** | 641400 | 459 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Country** **Garden Services Holdings Co. Ltd.** | 36000 | 30 |
| **Gemdale Corp. Class A** | 32300 | 20 |
| **Greentown China Holdings Ltd.** | 86000 | 105 |
| **Guangzhou R&F Properties Co. Ltd. Class H (a)** | 260400 | 23 |
| **Longfor Group Holdings Ltd.** | 136500 | 208 |
| **Quzhou Xin'an Development Co. Ltd. Class A** | 25000 | 16 |
| **Seazen Group Ltd. (a)** | 324000 | 106 |
| **Seazen Holdings Co. Ltd. Class A (a)** | 31400 | 72 |
| **Shenzhen Overseas Chinese Town Co. Ltd. Class A** | 43300 | 16 |
| **Youngor Fashion Co. Ltd. Class A** | 45000 | 47 |
|  |  | 1149 |
| **UTILITIES 1.1%**  |  |  |
| **CGN Power Co. Ltd. Class H** | 1060000 | 393 |
| **China National Nuclear Power Co. Ltd. Class A** | 99300 | 122 |
| **China Yangtze Power Co. Ltd. Class A** | 43700 | 167 |
| **ENN Energy Holdings Ltd.** | 36300 | 299 |
| **GD Power Development Co. Ltd. Class A** | 136400 | 96 |
| **Huadian Power International Corp. Ltd. Class H** | 70000 | 38 |
| **Huaneng Lancang River Hydropower, Inc. Class A** | 10000 | 13 |
| **SDIC Power Holdings Co. Ltd. Class A** | 13100 | 24 |
| **Shenergy Co. Ltd. Class A** | 10700 | 12 |
| **Zhejiang Zheneng Electric Power Co. Ltd. Class A** | 25400 | 18 |
|  |  | 1182 |
| Total China |  | 31703 |
| **GREECE 0.6%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Hellenic Telecommunications Organization SA** | 3502 | 66 |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Jumbo SA** | 2048 | 70 |
| **OPAP SA** | 3745 | 88 |
|  |  | 158 |
| **ENERGY 0.0%**  |  |  |
| **HELLENiQ ENERGY Holdings SA** | 1135 | 11 |
| **Motor Oil Hellas Corinth Refineries SA** | 1176 | 36 |
|  |  | 47 |
| **FINANCIALS 0.3%**  |  |  |
| **Eurobank Ergasias Services & Holdings SA** | 30352 | 117 |
| **National Bank of Greece SA** | 8414 | 123 |
| **Piraeus Financial Holdings SA** | 8387 | 71 |
|  |  | 311 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Star Bulk Carriers Corp.** | 2547 | 47 |
| Total Greece |  | 629 |
| **HONG KONG 2.4%**  |  |  |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Geely Automobile Holdings Ltd.** | 81000 | 203 |
| **FINANCIALS 0.8%**  |  |  |
| **BOC Hong Kong Holdings Ltd.** | 133500 | 625 |
| **China Taiping Insurance Holdings Co. Ltd.** | 90800 | 178 |
| **Far East Horizon Ltd.** | 65000 | 57 |
|  |  | 860 |
| **INDUSTRIALS 0.4%**  |  |  |
| **China Everbright Environment Group Ltd.** | 213000 | 121 |
| **Orient Overseas International Ltd.** | 13500 | 219 |
| **Shanghai Industrial Holdings Ltd.** | 22000 | 39 |
| **Shenzhen International Holdings Ltd.** | 57500 | 58 |
|  |  | 437 |
| **MATERIALS 0.0%**  |  |  |
| **China Resources Building Materials Technology Holdings Ltd.** | 60000 | 14 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **REAL ESTATE 0.6%**  |  |  |
| **China Jinmao Holdings Group Ltd.** | 626000 | 124 |
| **China Overseas Land & Investment Ltd.** | 211000 | 389 |
| **China Resources Land Ltd.** | 32000 | 125 |
|  |  | 638 |
| **UTILITIES 0.4%**  |  |  |
| **Beijing Enterprises Holdings Ltd.** | 23500 | 100 |
| **Beijing Enterprises Water Group Ltd.** | 36000 | 11 |
| **China Resources Gas Group Ltd.** | 42600 | 109 |
| **Guangdong Investment Ltd.** | 150000 | 136 |
| **Kunlun Energy Co. Ltd.** | 136000 | 122 |
|  |  | 478 |
| Total Hong Kong |  | 2630 |
| **INDIA 8.3%**  |  |  |
| **COMMUNICATION SERVICES 0.8%**  |  |  |
| **Bharti Airtel Ltd.** | 36514 | 772 |
| **Indus Towers Ltd. (a)** | 21869 | 85 |
|  |  | 857 |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **Bajaj Auto Ltd.** | 1147 | 112 |
| **Eicher Motors Ltd.** | 1342 | 106 |
| **Hero MotoCorp Ltd.** | 1609 | 99 |
| **Rajesh Exports Ltd. (a)** | 15205 | 31 |
|  |  | 348 |
| **CONSUMER STAPLES 0.8%**  |  |  |
| **Britannia Industries Ltd.** | 735 | 50 |
| **Colgate-Palmolive India Ltd.** | 1733 | 43 |
| **Dabur India Ltd.** | 4125 | 23 |
| **Godrej Consumer Products Ltd.** | 2139 | 28 |
| **Hindustan Unilever Ltd.** | 6401 | 181 |
| **ITC Ltd.** | 109601 | 495 |
| **Marico Ltd.** | 6354 | 50 |
| **Nestle India Ltd.** | 2124 | 28 |
|  |  | 898 |
| **ENERGY 1.1%**  |  |  |
| **Bharat Petroleum Corp. Ltd.** | 90180 | 345 |
| **Coal India Ltd.** | 28487 | 125 |
| **Hindustan Petroleum Corp. Ltd.** | 38539 | 193 |
| **Indian Oil Corp. Ltd.** | 104601 | 176 |
| **Oil & Natural Gas Corp. Ltd.** | 85642 | 231 |
| **Oil India Ltd.** | 11951 | 56 |
| **Petronet LNG Ltd.** | 19983 | 63 |
|  |  | 1189 |
| **FINANCIALS 1.6%**  |  |  |
| **Bajaj Finance Ltd.** | 21443 | 241 |
| **Bajaj Holdings & Investment Ltd.** | 208 | 29 |
| **Cholamandalam Financial Holdings Ltd.** | 2185 | 46 |
| **Federal Bank Ltd.** | 24158 | 53 |
| **HDFC Asset Management Co. Ltd.** | 610 | 38 |
| **HDFC Bank Ltd.** | 77523 | 831 |
| **HDFC Life Insurance Co. Ltd.** | 8666 | 74 |
| **Kotak Mahindra Bank Ltd.** | 12016 | 270 |
| **Muthoot Finance Ltd.** | 1741 | 60 |
| **Power Finance Corp. Ltd.** | 17757 | 82 |
| **Sammaan Capital Ltd.** | 27565 | 50 |
| **SBI Cards & Payment Services Ltd.** | 1122 | 11 |
| **Sundaram Finance Ltd.** | 734 | 36 |
|  |  | 1821 |
| **HEALTH CARE 0.6%**  |  |  |
| **Alkem Laboratories Ltd.** | 420 | 26 |
| **Cipla Ltd.** | 3723 | 63 |
| **Divi's Laboratories Ltd.** | 1962 | 126 |
| **Dr. Reddy's Laboratories Ltd.** | 4889 | 68 |
| **Glenmark Pharmaceuticals Ltd.** | 1192 | 26 |
| **Ipca Laboratories Ltd.** | 1255 | 19 |
| **Lupin Ltd.** | 3905 | 85 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sun** **Pharmaceutical Industries Ltd.** | 7449 | 134 |
| **Torrent Pharmaceuticals Ltd.** | 1594 | 65 |
| **Zydus Lifesciences Ltd.** | 4082 | 45 |
|  |  | 657 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Ashok Leyland Ltd.** | 32564 | 53 |
| **Bharat Electronics Ltd.** | 29936 | 136 |
| **Hindustan Aeronautics Ltd.** | 502 | 27 |
| **InterGlobe Aviation Ltd.** | 2088 | 131 |
|  |  | 347 |
| **INFORMATION TECHNOLOGY 1.2%**  |  |  |
| **Coforge Ltd.** | 3841 | 69 |
| **HCL Technologies Ltd.** | 13475 | 210 |
| **Infosys Ltd.** | 21140 | 344 |
| **LTIMindtree Ltd.** | 465 | 27 |
| **Mphasis Ltd.** | 1505 | 45 |
| **Oracle Financial Services Software Ltd.** | 552 | 52 |
| **Redington Ltd.** | 16915 | 54 |
| **Tata Consultancy Services Ltd.** | 12303 | 401 |
| **Tech Mahindra Ltd.** | 7964 | 126 |
|  |  | 1328 |
| **MATERIALS 0.9%**  |  |  |
| **Asian Paints Ltd.** | 1334 | 35 |
| **Chambal Fertilisers & Chemicals Ltd.** | 1701 | 10 |
| **Coromandel International Ltd.** | 2379 | 60 |
| **Jindal Steel Ltd.** | 8328 | 100 |
| **JSW Steel Ltd.** | 9795 | 126 |
| **National Aluminium Co. Ltd.** | 34753 | 84 |
| **NMDC Ltd.** | 85536 | 74 |
| **Steel Authority of India Ltd.** | 50480 | 77 |
| **Supreme Industries Ltd.** | 1003 | 48 |
| **Tata Steel Ltd.** | 32828 | 62 |
| **UltraTech Cement Ltd.** | 437 | 60 |
| **UPL Ltd.** | 3384 | 25 |
| **Vedanta Ltd.** | 41244 | 216 |
|  |  | 977 |
| **UTILITIES 0.7%**  |  |  |
| **Gujarat State Petronet Ltd.** | 7118 | 25 |
| **NHPC Ltd.** | 74740 | 73 |
| **NTPC Ltd.** | 60662 | 233 |
| **Power Grid Corp. of India Ltd.** | 103426 | 326 |
| **PTC India Ltd.** | 16774 | 31 |
| **Reliance Power Ltd. (a)** | 93228 | 46 |
|  |  | 734 |
| Total India |  | 9156 |
| **INDONESIA 1.0%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **Telkom Indonesia Persero Tbk. PT** | 1662300 | 306 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Indofood CBP Sukses Makmur Tbk. PT** | 56300 | 32 |
| **Indofood Sukses Makmur Tbk. PT** | 27100 | 12 |
| **Japfa Comfeed Indonesia Tbk. PT** | 171200 | 20 |
| **Sumber Alfaria Trijaya Tbk. PT** | 290700 | 34 |
|  |  | 98 |
| **ENERGY 0.3%**  |  |  |
| **Alamtri Resources Indonesia Tbk. PT** | 646100 | 66 |
| **Dian Swastatika Sentosa Tbk. PT (a)** | 26000 | 166 |
| **Indo Tambangraya Megah Tbk. PT** | 29400 | 40 |
| **United Tractors Tbk. PT** | 39100 | 63 |
|  |  | 335 |
| **FINANCIALS 0.2%**  |  |  |
| **Bank Central Asia Tbk. PT** | 386000 | 177 |
| **HEALTH CARE 0.0%**  |  |  |
| **Kalbe Farma Tbk. PT** | 390300 | 26 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **INDUSTRIALS 0.0%**  |  |  |
| **Astra International Tbk. PT** | 124500 | 43 |
| **MATERIALS 0.1%**  |  |  |
| **Aneka Tambang Tbk. PT** | 140900 | 27 |
| **Barito Pacific Tbk. PT (a)** | 210500 | 47 |
|  |  | 74 |
| **UTILITIES 0.0%**  |  |  |
| **Perusahaan Gas Negara Tbk. PT** | 200800 | 20 |
| Total Indonesia |  | 1079 |
| **JERSEY, CHANNEL ISLANDS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **WNS Holdings Ltd. (a)** | 714 | 54 |
| Total Jersey, Channel Islands |  | 54 |
| **KUWAIT 0.8%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Mobile Telecommunications Co. KSCP** | 34459 | 58 |
| **FINANCIALS 0.7%**  |  |  |
| **Al Ahli Bank of Kuwait KSCP** | 4345 | 4 |
| **Boubyan Bank KSCP** | 35765 | 83 |
| **Gulf Bank KSCP** | 65420 | 75 |
| **Kuwait Finance House KSCP** | 146453 | 381 |
| **National Bank of Kuwait SAKP** | 72984 | 253 |
|  |  | 796 |
| **INDUSTRIALS 0.0%**  |  |  |
| **National Industries Group Holding SAK** | 6677 | 6 |
| **REAL ESTATE 0.0%**  |  |  |
| **Mabanee Co. KPSC** | 1812 | 6 |
| Total Kuwait |  | 866 |
| **MALAYSIA 2.0%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Axiata Group Bhd.** | 47800 | 30 |
| **Maxis Bhd.** | 38800 | 33 |
| **Telekom Malaysia Bhd.** | 38900 | 66 |
|  |  | 129 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Genting Bhd.** | 50000 | 35 |
| **Genting Malaysia Bhd.** | 104800 | 52 |
|  |  | 87 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **IOI Corp. Bhd.** | 30000 | 28 |
| **Kuala Lumpur Kepong Bhd.** | 7600 | 37 |
| **PPB Group Bhd.** | 7300 | 18 |
| **SD Guthrie Bhd.** | 32900 | 41 |
| **United Plantations Bhd.** | 2100 | 11 |
|  |  | 135 |
| **FINANCIALS 0.8%**  |  |  |
| **AMMB Holdings Bhd.** | 53200 | 72 |
| **CIMB Group Holdings Bhd.** | 112000 | 196 |
| **Hong Leong Bank Bhd.** | 12100 | 59 |
| **Malayan Banking Bhd.** | 116400 | 274 |
| **Public Bank Bhd.** | 120700 | 124 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **RHB** **Bank Bhd.** | 69100 | 108 |
|  |  | 833 |
| **HEALTH CARE 0.2%**  |  |  |
| **Hartalega Holdings Bhd.** | 107400 | 30 |
| **IHH Healthcare Bhd.** | 52700 | 95 |
| **Kossan Rubber Industries Bhd.** | 17100 | 5 |
| **Top Glove Corp. Bhd. (a)** | 395000 | 54 |
|  |  | 184 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Gamuda Bhd.** | 101700 | 134 |
| **IJM Corp. Bhd.** | 136200 | 91 |
| **MISC Bhd.** | 21300 | 37 |
| **Sime Darby Bhd.** | 87900 | 48 |
| **Sunway Bhd.** | 58100 | 78 |
|  |  | 388 |
| **MATERIALS 0.1%**  |  |  |
| **Petronas Chemicals Group Bhd.** | 63200 | 64 |
| **Press Metal Aluminium Holdings Bhd.** | 21900 | 31 |
|  |  | 95 |
| **UTILITIES 0.3%**  |  |  |
| **Petronas Gas Bhd.** | 5400 | 24 |
| **Tenaga Nasional Bhd.** | 61900 | 195 |
| **YTL Corp. Bhd.** | 127580 | 84 |
| **YTL Power International Bhd.** | 42980 | 43 |
|  |  | 346 |
| Total Malaysia |  | 2197 |
| **MEXICO 2.7%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **America Movil SAB de CV Class B** | 405014 | 424 |
| **Grupo Televisa SAB** | 113476 | 61 |
| **Megacable Holdings SAB de CV** | 12857 | 41 |
|  |  | 526 |
| **CONSUMER STAPLES 1.3%**  |  |  |
| **Alfa SAB de CV Class A** | 137747 | 110 |
| **Arca Continental SAB de CV** | 15326 | 161 |
| **Coca-Cola Femsa SAB de CV** | 17074 | 142 |
| **Fomento Economico Mexicano SAB de CV** | 31385 | 309 |
| **Gruma SAB de CV Class B** | 4134 | 77 |
| **Grupo Bimbo SAB de CV** | 17477 | 62 |
| **Kimberly-Clark de Mexico SAB de CV Class A** | 34989 | 74 |
| **Wal-Mart de Mexico SAB de CV** | 151365 | 468 |
|  |  | 1403 |
| **FINANCIALS 0.2%**  |  |  |
| **Grupo Financiero Banorte SAB de CV Class O** | 26581 | 268 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Grupo Aeroportuario del Sureste SAB de CV Class B** | 2783 | 90 |
| **MATERIALS 0.6%**  |  |  |
| **Cemex SAB de CV** | 82660 | 74 |
| **Grupo Mexico SAB de CV** | 58873 | 513 |
| **Industrias Penoles SAB de CV (a)** | 1042 | 47 |
| **Orbia Advance Corp. SAB de CV** | 32997 | 32 |
|  |  | 666 |
| Total Mexico |  | 2953 |
| **NETHERLANDS 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **NEPI Rockcastle NV** | 6442 | 52 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Netherlands |  | <br> 52 |
| **PHILIPPINES 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **PLDT, Inc.** | 2295 | 43 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Universal Robina Corp.** | 13850 | 17 |
| **FINANCIALS 0.1%**  |  |  |
| **Bank of the Philippine Islands** | 4850 | 10 |
| **BDO Unibank, Inc.** | 15610 | 36 |
| **Metropolitan Bank & Trust Co.** | 24200 | 28 |
|  |  | 74 |
| **INDUSTRIALS 0.1%**  |  |  |
| **International Container Terminal Services, Inc.** | 15210 | 123 |
| **UTILITIES 0.0%**  |  |  |
| **Manila Electric Co.** | 3100 | 28 |
| Total Philippines |  | 285 |
| **POLAND 0.8%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Cyfrowy Polsat SA** | 7529 | 29 |
| **Orange Polska SA** | 17126 | 41 |
|  |  | 70 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **LPP SA** | 6 | 29 |
| **ENERGY 0.1%**  |  |  |
| **ORLEN SA** | 6133 | 146 |
| **FINANCIALS 0.3%**  |  |  |
| **Bank Polska Kasa Opieki SA** | 1912 | 92 |
| **Powszechna Kasa Oszczednosci Bank Polski SA** | 8456 | 164 |
| **Powszechny Zaklad Ubezpieczen SA** | 5068 | 76 |
|  |  | 332 |
| **INFORMATION TECHNOLOGY 0.1%**  |  |  |
| **Asseco Poland SA** | 1552 | 86 |
| **UTILITIES 0.2%**  |  |  |
| **Enea SA** | 10896 | 53 |
| **PGE Polska Grupa Energetyczna SA (a)** | 37745 | 112 |
| **Tauron Polska Energia SA (a)** | 45332 | 113 |
|  |  | 278 |
| Total Poland |  | 941 |
| **QATAR 0.5%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Ooredoo QPSC** | 12454 | 47 |
| **ENERGY 0.0%**  |  |  |
| **Qatar Fuel QSC** | 2622 | 11 |
| **Qatar Gas Transport Co. Ltd.** | 24375 | 31 |
|  |  | 42 |
| **FINANCIALS 0.3%**  |  |  |
| **Al Rayan Bank** | 112286 | 73 |
| **Commercial Bank PSQC** | 10269 | 13 |
| **Doha Bank QPSC** | 69842 | 49 |
| **Qatar Islamic Bank QPSC** | 12366 | 81 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Qatar** **National Bank QPSC** | 23416 | 120 |
|  |  | 336 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Industries Qatar QSC** | 24940 | 85 |
| **REAL ESTATE 0.0%**  |  |  |
| **Barwa Real Estate Co.** | 57559 | 42 |
| **UTILITIES 0.0%**  |  |  |
| **Qatar Electricity & Water Co. QSC** | 2440 | 11 |
| Total Qatar |  | 563 |
| **RUSSIA 0.0%**  |  |  |
| **ENERGY 0.0%**  |  |  |
| **Gazprom Neft PJSC «** | 13620 | 0 |
| **Gazprom PJSC «(a)** | 635130 | 0 |
| **LUKOIL PJSC «** | 15703 | 0 |
| **Novatek PJSC «** | 21924 | 0 |
| **Rosneft Oil Co. PJSC «** | 66050 | 0 |
| **Surgutneftegas PAO «(a)** | 701700 | 0 |
| **Tatneft PJSC «** | 19086 | 0 |
|  |  | 0 |
| **FINANCIALS 0.0%**  |  |  |
| **Sberbank of Russia PJSC «** | 117340 | 0 |
| **VTB Bank PJSC «** | 119798 | 0 |
|  |  | 0 |
| **MATERIALS 0.0%**  |  |  |
| **GMK Norilskiy Nickel PAO «(a)** | 126900 | 0 |
| **Magnitogorsk Iron & Steel Works PJSC «** | 160600 | 0 |
| **Novolipetsk Steel PJSC «** | 88470 | 0 |
| **Severstal PAO «** | 17344 | 0 |
|  |  | 0 |
| **UTILITIES 0.0%**  |  |  |
| **Federal Grid Co-Rosseti PJSC «(a)** | 22174692 | 0 |
| **Inter RAO UES PJSC «** | 1587500 | 0 |
|  |  | 0 |
| Total Russia |  | 0 |
| **SAUDI ARABIA 2.2%**  |  |  |
| **COMMUNICATION SERVICES 0.4%**  |  |  |
| **Etihad Etisalat Co.** | 3053 | 55 |
| **Mobile Telecommunications Co. Saudi Arabia** | 3840 | 11 |
| **Saudi Telecom Co.** | 37263 | 438 |
|  |  | 504 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Jarir Marketing Co.** | 11750 | 44 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Abdullah Al Othaim Markets Co.** | 10779 | 22 |
| **Almarai Co. JSC** | 6253 | 84 |
|  |  | 106 |
| **ENERGY 0.7%**  |  |  |
| **Saudi Arabian Oil Co.** | 112688 | 740 |
| **FINANCIALS 0.2%**  |  |  |
| **Arab National Bank** | 5183 | 34 |
| **Bupa Arabia for Cooperative Insurance Co.** | 1121 | 49 |
| **Riyad Bank** | 6807 | 50 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Saudi** **Investment Bank** | 10849 | 41 |
|  |  | 174 |
| **HEALTH CARE 0.1%**  |  |  |
| **Dr. Sulaiman Al Habib Medical Services Group Co.** | 856 | 62 |
| **MATERIALS 0.6%**  |  |  |
| **Advanced Petrochemical Co. (a)** | 2321 | 22 |
| **SABIC Agri-Nutrients Co.** | 4689 | 149 |
| **Sahara International Petrochemical Co.** | 7592 | 41 |
| **Saudi Arabian Mining Co. (a)** | 7024 | 120 |
| **Saudi Basic Industries Corp.** | 16216 | 266 |
| **Saudi Cement Co.** | 998 | 11 |
| **Yanbu National Petrochemical Co.** | 7715 | 72 |
|  |  | 681 |
| **REAL ESTATE 0.1%**  |  |  |
| **Arabian Centres Co.** | 6675 | 40 |
| **Dar Al Arkan Real Estate Development Co. (a)** | 5846 | 31 |
|  |  | 71 |
| **UTILITIES 0.0%**  |  |  |
| **Saudi Electricity Co.** | 11314 | 46 |
| Total Saudi Arabia |  | 2428 |
| **SOUTH AFRICA 4.8%**  |  |  |
| **COMMUNICATION SERVICES 0.7%**  |  |  |
| **MTN Group Ltd.** | 58286 | 491 |
| **MultiChoice Group** | 13315 | 97 |
| **Telkom SA SOC Ltd.** | 11295 | 33 |
| **Vodacom Group Ltd.** | 14402 | 111 |
|  |  | 732 |
| **CONSUMER DISCRETIONARY 0.5%**  |  |  |
| **Motus Holdings Ltd.** | 5706 | 35 |
| **Mr. Price Group Ltd.** | 6981 | 82 |
| **Naspers Ltd. Class N** | 1042 | 379 |
| **Woolworths Holdings Ltd.** | 17973 | 52 |
|  |  | 548 |
| **CONSUMER STAPLES 0.4%**  |  |  |
| **Bid Corp. Ltd.** | 1843 | 46 |
| **Shoprite Holdings Ltd.** | 12873 | 204 |
| **SPAR Group Ltd. (a)** | 9278 | 53 |
| **Tiger Brands Ltd.** | 5542 | 99 |
|  |  | 402 |
| **ENERGY 0.1%**  |  |  |
| **Exxaro Resources Ltd.** | 10173 | 106 |
| **Thungela Resources Ltd.** | 2219 | 11 |
|  |  | 117 |
| **FINANCIALS 0.5%**  |  |  |
| **Absa Group Ltd.** | 7915 | 83 |
| **Discovery Ltd.** | 7504 | 85 |
| **FirstRand Ltd.** | 77153 | 347 |
| **Momentum Group Ltd.** | 6185 | 12 |
|  |  | 527 |
| **HEALTH CARE 0.0%**  |  |  |
| **Life Healthcare Group Holdings Ltd.** | 36795 | 25 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Bidvest Group Ltd.** | 7236 | 89 |
| **MATERIALS 2.5%**  |  |  |
| **African Rainbow Minerals Ltd.** | 3513 | 38 |
| **Gold Fields Ltd.** | 16215 | 679 |
| **Harmony Gold Mining Co. Ltd.** | 6042 | 109 |
| **Impala Platinum Holdings Ltd.** | 50609 | 645 |
| **Kumba Iron Ore Ltd.** | 2702 | 51 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Northam** **Platinum Holdings Ltd.** | 2329 | 38 |
| **Sappi Ltd.** | 26018 | 35 |
| **Sasol Ltd.** | 15613 | 97 |
| **Sibanye Stillwater Ltd.** | 212158 | 600 |
| **Valterra Platinum Ltd.** | 7369 | 526 |
|  |  | 2818 |
| Total South Africa |  | 5258 |
| **SOUTH KOREA 13.9%**  |  |  |
| **COMMUNICATION SERVICES 1.0%**  |  |  |
| **Kakao Corp.** | 2503 | 107 |
| **KT Corp.** | 10049 | 362 |
| **LG Uplus Corp.** | 12340 | 135 |
| **NAVER Corp.** | 1222 | 235 |
| **NCSoft Corp.** | 104 | 16 |
| **SK Telecom Co. Ltd.** | 7051 | 273 |
|  |  | 1128 |
| **CONSUMER DISCRETIONARY 2.0%**  |  |  |
| **Coway Co. Ltd.** | 1008 | 70 |
| **Hankook Tire & Technology Co. Ltd.** | 2848 | 78 |
| **HL Mando Co. Ltd.** | 498 | 12 |
| **Hyundai Mobis Co. Ltd.** | 1964 | 418 |
| **Hyundai Motor Co.** | 5779 | 886 |
| **Kia Corp.** | 6228 | 447 |
| **LG Electronics, Inc.** | 5566 | 300 |
| **Lotte Shopping Co. Ltd.** | 828 | 42 |
|  |  | 2253 |
| **CONSUMER STAPLES 0.5%**  |  |  |
| **CJ CheilJedang Corp.** | 612 | 100 |
| **E-MART, Inc.** | 1930 | 104 |
| **GS Retail Co. Ltd.** | 746 | 9 |
| **KT&G Corp.** | 3262 | 311 |
| **LG H&H Co. Ltd.** | 315 | 64 |
|  |  | 588 |
| **ENERGY 0.5%**  |  |  |
| **HD Hyundai Co. Ltd.** | 2425 | 269 |
| **S-Oil Corp. (a)** | 1501 | 67 |
| **SK Innovation Co. Ltd.** | 2666 | 191 |
|  |  | 527 |
| **FINANCIALS 3.6%**  |  |  |
| **BNK Financial Group, Inc.** | 13535 | 141 |
| **DB Insurance Co. Ltd.** | 1941 | 192 |
| **Hana Financial Group, Inc.** | 10606 | 659 |
| **Hanwha Life Insurance Co. Ltd.** | 14545 | 33 |
| **Hyundai Marine & Fire Insurance Co. Ltd.** | 3681 | 74 |
| **Industrial Bank of Korea** | 13496 | 187 |
| **KB Financial Group, Inc.** | 6453 | 533 |
| **Korea Investment Holdings Co. Ltd.** | 1164 | 120 |
| **Meritz Financial Group, Inc.** | 2114 | 172 |
| **Mirae Asset Securities Co. Ltd.** | 3424 | 52 |
| **NH Investment & Securities Co. Ltd. Class C** | 2828 | 39 |
| **Samsung Card Co. Ltd.** | 722 | 27 |
| **Samsung Fire & Marine Insurance Co. Ltd.** | 1297 | 417 |
| **Samsung Life Insurance Co. Ltd.** | 1840 | 206 |
| **Shinhan Financial Group Co. Ltd.** | 14732 | 743 |
| **Woori Financial Group, Inc.** | 21812 | 404 |
|  |  | 3999 |
| **INDUSTRIALS 2.6%**  |  |  |
| **CJ Corp.** | 1456 | 191 |
| **CJ Logistics Corp.** | 823 | 49 |
| **Daewoo Engineering & Construction Co. Ltd. (a)** | 13315 | 34 |
| **DL E&C Co. Ltd.** | 3024 | 90 |
| **Doosan Co. Ltd.** | 1288 | 497 |
| **Doosan Enerbility Co. Ltd. (a)** | 4173 | 186 |
| **GS Engineering & Construction Corp.** | 5707 | 75 |
| **GS Holdings Corp.** | 2697 | 88 |
| **Hanwha Corp.** | 5447 | 329 |
| **HD Korea Shipbuilding & Offshore Engineering Co. Ltd.** | 422 | 124 |
| **HMM Co. Ltd.** | 3222 | 46 |
| **Hyundai Engineering & Construction Co. Ltd.** | 4860 | 188 |
| **Hyundai Glovis Co. Ltd.** | 1848 | 218 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **LG** **Corp.** | 2244 | 115 |
| **Lotte Corp.** | 1922 | 40 |
| **LS Corp.** | 912 | 109 |
| **LX International Corp.** | 2509 | 57 |
| **Posco International Corp.** | 888 | 31 |
| **SK, Inc.** | 2541 | 381 |
|  |  | 2848 |
| **INFORMATION TECHNOLOGY 1.4%**  |  |  |
| **LG Display Co. Ltd. (a)** | 14150 | 146 |
| **LG Innotek Co. Ltd.** | 389 | 52 |
| **Samsung Electro-Mechanics Co. Ltd.** | 1269 | 175 |
| **SK Hynix, Inc.** | 4664 | 1156 |
|  |  | 1529 |
| **MATERIALS 1.1%**  |  |  |
| **Hanwha Solutions Corp. (a)** | 863 | 18 |
| **Hyundai Steel Co.** | 8440 | 204 |
| **KCC Corp.** | 235 | 64 |
| **Korea Zinc Co. Ltd.** | 220 | 145 |
| **Kumho Petrochemical Co. Ltd.** | 851 | 63 |
| **Lotte Chemical Corp.** | 1251 | 61 |
| **POSCO Holdings, Inc.** | 3197 | 628 |
|  |  | 1183 |
| **UTILITIES 1.2%**  |  |  |
| **Korea Electric Power Corp.** | 45307 | 1169 |
| **Korea Gas Corp.** | 3469 | 97 |
|  |  | 1266 |
| Total South Korea |  | 15321 |
| **TAIWAN 17.6%**  |  |  |
| **COMMUNICATION SERVICES 0.8%**  |  |  |
| **Chunghwa Telecom Co. Ltd.** | 127000 | 556 |
| **Far EasTone Telecommunications Co. Ltd.** | 49000 | 142 |
| **Taiwan Mobile Co. Ltd.** | 49000 | 175 |
|  |  | 873 |
| **CONSUMER DISCRETIONARY 0.4%**  |  |  |
| **Cheng Shin Rubber Industry Co. Ltd.** | 57000 | 71 |
| **China Motor Corp.** | 26000 | 54 |
| **Eclat Textile Co. Ltd.** | 5000 | 72 |
| **Feng TAY Enterprise Co. Ltd.** | 14560 | 59 |
| **Nien Made Enterprise Co. Ltd.** | 2000 | 28 |
| **Pou Chen Corp.** | 118000 | 112 |
|  |  | 396 |
| **CONSUMER STAPLES 0.4%**  |  |  |
| **Great Wall Enterprise Co. Ltd.** | 10008 | 17 |
| **President Chain Store Corp.** | 13000 | 106 |
| **Uni-President Enterprises Corp.** | 126000 | 325 |
|  |  | 448 |
| **ENERGY 0.0%**  |  |  |
| **Formosa Petrochemical Corp.** | 21000 | 28 |
| **FINANCIALS 3.4%**  |  |  |
| **Cathay Financial Holding Co. Ltd.** | 166200 | 359 |
| **Chang Hwa Commercial Bank Ltd.** | 148048 | 96 |
| **CTBC Financial Holding Co. Ltd.** | 606000 | 855 |
| **E.Sun Financial Holding Co. Ltd.** | 244774 | 268 |
| **First Financial Holding Co. Ltd.** | 189326 | 186 |
| **Fubon Financial Holding Co. Ltd.** | 169230 | 491 |
| **Hua Nan Financial Holdings Co. Ltd.** | 150013 | 146 |
| **KGI Financial Holding Co. Ltd.** | 494797 | 244 |
| **Mega Financial Holding Co. Ltd.** | 160515 | 224 |
| **Shanghai Commercial & Savings Bank Ltd.** | 64712 | 89 |
| **SinoPac Financial Holdings Co. Ltd.** | 249476 | 205 |
| **Taiwan Business Bank** | 98065 | 51 |
| **Taiwan Cooperative Financial Holding Co. Ltd.** | 130148 | 105 |
| **TS Financial Holding Co. Ltd.** | 228724 | 135 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Yuanta** **Financial Holding Co. Ltd.** | 265724 | 304 |
|  |  | 3758 |
| **INDUSTRIALS 1.1%**  |  |  |
| **Eva Airways Corp.** | 40000 | 50 |
| **Evergreen Marine Corp. Taiwan Ltd.** | 92000 | 542 |
| **Far Eastern New Century Corp.** | 88000 | 80 |
| **Taiwan High Speed Rail Corp.** | 16000 | 15 |
| **Teco Electric & Machinery Co. Ltd.** | 44000 | 138 |
| **Yang Ming Marine Transport Corp.** | 218000 | 380 |
|  |  | 1205 |
| **INFORMATION TECHNOLOGY 10.5%**  |  |  |
| **Accton Technology Corp.** | 8000 | 277 |
| **Acer, Inc.** | 110000 | 112 |
| **Advantech Co. Ltd.** | 7119 | 75 |
| **ASE Technology Holding Co. Ltd.** | 58000 | 317 |
| **Asustek Computer, Inc.** | 38000 | 840 |
| **AUO Corp.** | 305600 | 137 |
| **Catcher Technology Co. Ltd.** | 27000 | 162 |
| **Cheng Uei Precision Industry Co. Ltd.** | 19000 | 30 |
| **Chicony Electronics Co. Ltd.** | 32000 | 145 |
| **Compal Electronics, Inc.** | 194000 | 207 |
| **Delta Electronics, Inc.** | 40000 | 1127 |
| **Foxconn Technology Co. Ltd.** | 45000 | 104 |
| **Himax Technologies, Inc. ADR** | 1110 | 10 |
| **Hon Hai Precision Industry Co. Ltd.** | 212600 | 1518 |
| **Innolux Corp.** | 371592 | 176 |
| **Inventec Corp.** | 133000 | 201 |
| **Kinpo Electronics** | 64000 | 41 |
| **Largan Precision Co. Ltd.** | 1290 | 100 |
| **Lite-On Technology Corp.** | 89000 | 506 |
| **MediaTek, Inc.** | 32000 | 1388 |
| **Micro-Star International Co. Ltd.** | 20000 | 76 |
| **Mitac Holdings Corp.** | 69500 | 201 |
| **Nan Ya Printed Circuit Board Corp.** | 2000 | 15 |
| **Novatek Microelectronics Corp.** | 8000 | 112 |
| **Pegatron Corp.** | 50000 | 116 |
| **Powertech Technology, Inc.** | 43000 | 207 |
| **Primax Electronics Ltd.** | 19000 | 49 |
| **Qisda Corp.** | 22000 | 25 |
| **Quanta Computer, Inc.** | 75000 | 718 |
| **Radiant Opto-Electronics Corp.** | 18000 | 85 |
| **Realtek Semiconductor Corp.** | 6000 | 109 |
| **Silicon Motion Technology Corp. ADR** | 735 | 70 |
| **Supreme Electronics Co. Ltd.** | 31861 | 47 |
| **Synnex Technology International Corp.** | 45000 | 93 |
| **Taiwan Semiconductor Manufacturing Co. Ltd.** | 24000 | 1043 |
| **TPK Holding Co. Ltd.** | 26000 | 34 |
| **Tripod Technology Corp.** | 14000 | 139 |
| **Wistron Corp.** | 91347 | 424 |
| **Wiwynn Corp.** | 1000 | 110 |
| **WPG Holdings Ltd.** | 64560 | 140 |
| **WT Microelectronics Co. Ltd.** | 40880 | 189 |
| **Zhen Ding Technology Holding Ltd.** | 29000 | 159 |
|  |  | 11634 |
| **MATERIALS 0.9%**  |  |  |
| **Asia Cement Corp.** | 71000 | 89 |
| **China Steel Corp.** | 277000 | 177 |
| **Eternal Materials Co. Ltd.** | 26300 | 35 |
| **Formosa Chemicals & Fibre Corp.** | 64000 | 62 |
| **Formosa Plastics Corp.** | 152000 | 193 |
| **Nan Ya Plastics Corp.** | 140000 | 182 |
| **TA Chen Stainless Pipe** | 51172 | 65 |
| **TCC Group Holdings Co. Ltd.** | 130553 | 103 |
| **Tung Ho Steel Enterprise Corp.** | 22020 | 44 |
|  |  | 950 |
| **REAL ESTATE 0.1%**  |  |  |
| **Farglory Land Development Co. Ltd.** | 4000 | 8 |
| **Highwealth Construction Corp.** | 39726 | 53 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ruentex** **Development Co. Ltd.** | 35380 | 34 |
|  |  | 95 |
| Total Taiwan |  | 19387 |
| **THAILAND 3.1%**  |  |  |
| **COMMUNICATION SERVICES 0.4%**  |  |  |
| **Advanced Info Service PCL** | 37400 | 336 |
| **Digital Telecommunications Infrastructure Fund** | 190000 | 53 |
|  |  | 389 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Home Product Center PCL** | 80800 | 19 |
| **Sri Trang Agro-Industry PCL** | 124300 | 48 |
|  |  | 67 |
| **CONSUMER STAPLES 0.4%**  |  |  |
| **Berli Jucker PCL** | 22700 | 14 |
| **Charoen Pokphand Foods PCL** | 331200 | 228 |
| **CP ALL PCL** | 106200 | 155 |
| **Thai Beverage PCL** | 139700 | 50 |
| **Thai Union Group PCL** | 77800 | 31 |
|  |  | 478 |
| **ENERGY 0.9%**  |  |  |
| **Bangchak Corp. PCL** | 58700 | 56 |
| **Banpu PCL** | 325700 | 46 |
| **PTT PCL** | 853700 | 876 |
| **Thai Oil PCL** | 47200 | 51 |
|  |  | 1029 |
| **FINANCIALS 0.5%**  |  |  |
| **Bangkok Bank PCL** | 19500 | 90 |
| **Kasikornbank PCL** | 19500 | 101 |
| **Krung Thai Bank PCL** | 42900 | 33 |
| **SCB X PCL** | 21100 | 83 |
| **Thanachart Capital PCL** | 28400 | 44 |
| **Tisco Financial Group PCL** | 43900 | 138 |
|  |  | 489 |
| **HEALTH CARE 0.1%**  |  |  |
| **Bangkok Dusit Medical Services PCL Class F** | 213500 | 135 |
| **Sri Trang Gloves Thailand PCL** | 80000 | 18 |
|  |  | 153 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Regional Container Lines PCL** | 12000 | 10 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **Delta Electronics Thailand PCL** | 43300 | 212 |
| **Fabrinet (a)** | 284 | 104 |
|  |  | 316 |
| **MATERIALS 0.3%**  |  |  |
| **Indorama Ventures PCL** | 30900 | 22 |
| **PTT Global Chemical PCL** | 137800 | 106 |
| **Siam Cement PCL** | 33700 | 239 |
|  |  | 367 |
| **REAL ESTATE 0.1%**  |  |  |
| **Land & Houses PCL** | 224900 | 30 |
| **Supalai PCL** | 64900 | 36 |
|  |  | 66 |
| **UTILITIES 0.0%**  |  |  |
| **Ratch Group PCL** | 24550 | 20 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Thailand |  | <br> 3384 |
| **TURKEY 0.8%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Turk Telekomunikasyon AS (a)** | 17286 | 21 |
| **Turkcell Iletisim Hizmetleri AS** | 39570 | 93 |
|  |  | 114 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Arcelik AS** | 2826 | 8 |
| **Ford Otomotiv Sanayi AS** | 8648 | 21 |
|  |  | 29 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **Anadolu Efes Biracilik Ve Malt Sanayii AS** | 103454 | 34 |
| **BIM Birlesik Magazalar AS** | 15372 | 200 |
| **Coca-Cola Icecek AS** | 15077 | 17 |
|  |  | 251 |
| **ENERGY 0.0%**  |  |  |
| **Turkiye Petrol Rafinerileri AS** | 1 | 0 |
| **FINANCIALS 0.1%**  |  |  |
| **Is Yatirim Menkul Degerler AS** | 72268 | 76 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Aselsan Elektronik Sanayi Ve Ticaret AS** | 27787 | 144 |
| **Enka Insaat ve Sanayi AS** | 54374 | 92 |
| **Tekfen Holding AS** | 14009 | 28 |
| **Turkiye Sise ve Cam Fabrikalari AS** | 23562 | 21 |
|  |  | 285 |
| **MATERIALS 0.1%**  |  |  |
| **Eregli Demir ve Celik Fabrikalari TAS** | 93270 | 66 |
| **Petkim Petrokimya Holding AS (a)** | 51037 | 22 |
|  |  | 88 |
| **UTILITIES 0.0%**  |  |  |
| **Aygaz AS** | 1 | 0 |
| **Enerjisa Enerji AS** | 11718 | 23 |
|  |  | 23 |
| Total Turkey |  | 866 |
| **UNITED ARAB EMIRATES 1.3%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Emirates Telecommunications Group Co. PJSC** | 31465 | 161 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Abu Dhabi National Oil Co. for Distribution PJSC** | 65666 | 68 |
| **ENERGY 0.1%**  |  |  |
| **ADNOC Drilling Co. PJSC** | 55781 | 86 |
| **FINANCIALS 0.6%**  |  |  |
| **Abu Dhabi Commercial Bank PJSC** | 18352 | 73 |
| **Abu Dhabi Islamic Bank PJSC** | 25450 | 151 |
| **Dubai Islamic Bank PJSC** | 57362 | 150 |
| **Emirates NBD Bank PJSC** | 20934 | 138 |
| **First Abu Dhabi Bank PJSC** | 43799 | 187 |
|  |  | 699 |
| **INDUSTRIALS 0.0%**  |  |  |
| **Alpha Dhabi Holding PJSC (a)** | 3940 | 11 |
| **MATERIALS 0.1%**  |  |  |
| **Borouge PLC** | 90104 | 62 |

---

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<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **REAL ESTATE 0.2%**  |  |  |
| **Aldar Properties PJSC** | 22470 | 58 |
| **Emaar Development PJSC** | 36949 | 135 |
| **Emaar Properties PJSC** | 40466 | 144 |
|  |  | 337 |
| **UTILITIES 0.1%**  |  |  |
| **Dubai Electricity & Water Authority PJSC** | 106287 | 78 |
| Total United Arab Emirates |  | 1502 |
| **UNITED STATES 0.4%**  |  |  |
| **HEALTH CARE 0.4%**  |  |  |
| **BeOne Medicines Ltd. Class H (a)** | 15200 | 406 |
| Total United States |  | 406 |
| Total Common Stocks (Cost $88,020) |  | 106467 |
| **PREFERRED STOCKS 2.3%**  |  |  |
| **BRAZIL 2.2%**  |  |  |
| **BANKING & FINANCE 0.5%**  |  |  |
| **Banco Bradesco SA** | 53900 | 179 |
| **Itau Unibanco Holding SA** | 52800 | 388 |
|  |  | 567 |
| **INDUSTRIALS 0.5%**  |  |  |
| **Braskem SA** | 27090 | 33 |
| **Gerdau SA** | 84814 | 265 |
| **Metalurgica Gerdau SA** | 100492 | 180 |
| **Usinas Siderurgicas de Minas Gerais SA Usiminas** | 89500 | 71 |
|  |  | 549 |
| **UTILITIES 1.2%**  |  |  |
| **Cia Energetica de Minas Gerais** | 71397 | 150 |
| **Cia Paranaense de Energia - Copel** | 8500 | 20 |
| **Isa Energia Brasil SA** | 20121 | 93 |
| **Petroleo Brasileiro SA - Petrobras** | 170298 | 1007 |
|  |  | 1270 |
| Total Brazil |  | 2386 |
| **CHILE 0.1%**  |  |  |
| **INDUSTRIALS 0.1%**  |  |  |
| **Embotelladora Andina SA** | 8692 | 34 |
| **Sociedad Quimica y Minera de Chile SA** | 1463 | 63 |
|  |  | 97 |
| Total Chile |  | 97 |
| **RUSSIA 0.0%**  |  |  |
| **UTILITIES 0.0%**  |  |  |
| **Bashneft PJSC** « | 2929 | 0 |
| **Transneft PJSC** «(c) | 2200 | 0 |
|  |  | 0 |
| Total Russia |  | 0 |
| Total Preferred Stocks (Cost $2,250) |  | 2483 |
| **REAL ESTATE INVESTMENT TRUSTS 0.0%**  |  |  |
| **SOUTH AFRICA 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **Growthpoint Properties Ltd.** | 40614 | 35 |

---

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<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Real Estate Investment Trusts (Cost $34) |  | <br> 35 |
| **SHORT-TERM INSTRUMENTS 0.7%**  |  |  |
| **MUTUAL FUNDS 0.7%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200% (d) | 699349 | 699 |
| Total Mutual Funds (Cost $699) |  | 699 |
| Total Short-Term Instruments (Cost $699) |  | 699 |
| Total Investments in Securities (Cost $91,003) |  | 109684 |
| **INVESTMENTS IN AFFILIATES 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **PIMCO Government Money Market Fund** <br> 4.290% (b)(c)(d) | 8608 | 9 |
| Total Investments in Affiliates (Cost $9) |  | 9 |
| Total Investments 99.5% (Cost $91,012) |  | $109693 |
| **Financial Derivative Instruments (e)(f) 0.0**%(Cost or Premiums, net $0) |  | 2 |
| Other Assets and Liabilities, net 0.5% |  | 587 |
| Net Assets 100.0% |  | $110282 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(c)** | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  | **Securities with an aggregate market value of $8 were out on loan in exchange for $9 of cash collateral as of September 30, 2025.**  |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** |
| **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** | **FUTURES CONTRACTS:** |
| **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
|  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Description | Description | # of<br>Contracts | # of<br>Contracts | Notional<br>Amount | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Asset | Liability |
| Mini MSCI Emerging Markets Index December Futures  | Mini MSCI Emerging Markets Index December Futures  | 11 | 11 | 748 | 748 | 4 | 4 | 2 | 2 | $0 |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **4** | **$** | **2** | **$** | **0** |
| **(f)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** |
|  |  |  |  |  |  | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Currency to<br>be Delivered | Currency to<br>be Delivered | Currency to<br>be Received | Currency to<br>be Received | Currency to<br>be Received | Asset | Asset |  | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | 10/2025  | 24 | 24 | 7 | 7 | 7 | 0 | 0 | $ | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **0** | **$** | **$** | **0** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |  |
| Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil |  |
|  | Communication Services | Communication Services | $347 | 347 | $0 | 0 | 0 | $347 | 347 |  |
|  | Consumer Discretionary | Consumer Discretionary | 372 | 372 | 0 | 0 | 0 | 372 | 372 |  |
|  | Consumer Staples | Consumer Staples | 831 | 831 | 0 | 0 | 0 | 831 | 831 |  |
|  | Financials | Financials | 471 | 471 | 0 | 0 | 0 | 471 | 471 |  |
|  | Health Care | Health Care | 50 | 50 | 0 | 0 | 0 | 50 | 50 |  |
|  | Industrials | Industrials | 62 | 62 | 0 | 0 | 0 | 62 | 62 |  |
|  | Materials | Materials | 1211 | 1211 | 0 | 0 | 0 | 1211 | 1211 |  |
|  | Utilities | Utilities | 379 | 379 | 0 | 0 | 0 | 379 | 379 |  |
| Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands | Cayman Islands |  |
|  | Real Estate | Real Estate | 0 | 0 | 112 | 112 | 0 | 112 | 112 |  |
| Chile | Chile | Chile | Chile | Chile | Chile | Chile | Chile | Chile | Chile |  |
|  | Consumer Discretionary | Consumer Discretionary | 113 | 113 | 48 | 48 | 0 | 161 | 161 |  |
|  | Consumer Staples | Consumer Staples | 67 | 67 | 138 | 138 | 0 | 205 | 205 |  |
|  | Financials | Financials | 249 | 249 | 235 | 235 | 0 | 484 | 484 |  |
|  | Materials | Materials | 0 | 0 | 28 | 28 | 0 | 28 | 28 |  |
|  | Utilities | Utilities | 37 | 37 | 57 | 57 | 0 | 94 | 94 |  |
| China | China | China | China | China | China | China | China | China | China |  |
|  | Communication Services | Communication Services | 0 | 0 | 2723 | 2723 | 0 | 2723 | 2723 |  |
|  | Consumer Discretionary | Consumer Discretionary | 753 | 753 | 1422 | 1422 | 0 | 2175 | 2175 |  |
|  | Consumer Staples | Consumer Staples | 29 | 29 | 1339 | 1339 | 0 | 1368 | 1368 |  |
|  | Energy | Energy | 14 | 14 | 1554 | 1554 | 0 | 1568 | 1568 |  |
|  | Financials | Financials | 522 | 522 | 9978 | 9978 | 0 | 10500 | 10500 |  |
|  | Health Care | Health Care | 0 | 0 | 1021 | 1021 | 0 | 1021 | 1021 |  |
|  | Industrials | Industrials | 288 | 288 | 3483 | 3483 | 0 | 3771 | 3771 |  |
|  | Information Technology | Information Technology | 0 | 0 | 2293 | 2293 | 0 | 2293 | 2293 |  |
|  | Materials | Materials | 0 | 0 | 3953 | 3953 | 0 | 3953 | 3953 |  |
|  | Real Estate | Real Estate | 0 | 0 | 1149 | 1149 | 0 | 1149 | 1149 |  |
|  | Utilities | Utilities | 0 | 0 | 1182 | 1182 | 0 | 1182 | 1182 |  |
| Greece | Greece | Greece | Greece | Greece | Greece | Greece | Greece | Greece | Greece |  |
|  | Communication Services | Communication Services | 66 | 66 | 0 | 0 | 0 | 66 | 66 |  |

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<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Consumer Discretionary | 158 | 0 | 0 | 158 |
| Energy | 11 | 36 | 0 | 47 |
| Financials | 0 | 311 | 0 | 311 |
| Industrials | 47 | 0 | 0 | 47 |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |
| Consumer Discretionary | 203 | 0 | 0 | 203 |
| Financials | 57 | 803 | 0 | 860 |
| Industrials | 0 | 437 | 0 | 437 |
| Materials | 0 | 14 | 0 | 14 |
| Real Estate | 0 | 638 | 0 | 638 |
| Utilities | 0 | 478 | 0 | 478 |
| India | India | India | India | India |
| Communication Services | 0 | 857 | 0 | 857 |
| Consumer Discretionary | 0 | 348 | 0 | 348 |
| Consumer Staples | 50 | 848 | 0 | 898 |
| Energy | 0 | 1189 | 0 | 1189 |
| Financials | 11 | 1810 | 0 | 1821 |
| Health Care | 0 | 657 | 0 | 657 |
| Industrials | 0 | 347 | 0 | 347 |
| Information Technology | 0 | 1328 | 0 | 1328 |
| Materials | 0 | 977 | 0 | 977 |
| Utilities | 0 | 734 | 0 | 734 |
| Indonesia | Indonesia | Indonesia | Indonesia | Indonesia |
| Communication Services | 0 | 306 | 0 | 306 |
| Consumer Staples | 0 | 98 | 0 | 98 |
| Energy | 166 | 169 | 0 | 335 |
| Financials | 0 | 177 | 0 | 177 |
| Health Care | 0 | 26 | 0 | 26 |
| Industrials | 0 | 43 | 0 | 43 |
| Materials | 0 | 74 | 0 | 74 |
| Utilities | 0 | 20 | 0 | 20 |
| Jersey, Channel Islands | Jersey, Channel Islands | Jersey, Channel Islands | Jersey, Channel Islands | Jersey, Channel Islands |
| Industrials | 54 | 0 | 0 | 54 |
| Kuwait | Kuwait | Kuwait | Kuwait | Kuwait |
| Communication Services | 0 | 58 | 0 | 58 |
| Financials | 83 | 713 | 0 | 796 |
| Industrials | 0 | 6 | 0 | 6 |
| Real Estate | 6 | 0 | 0 | 6 |
| Malaysia | Malaysia | Malaysia | Malaysia | Malaysia |
| Communication Services | 0 | 129 | 0 | 129 |
| Consumer Discretionary | 0 | 87 | 0 | 87 |
| Consumer Staples | 65 | 70 | 0 | 135 |
| Financials | 0 | 833 | 0 | 833 |
| Health Care | 95 | 89 | 0 | 184 |
| Industrials | 37 | 351 | 0 | 388 |
| Materials | 0 | 95 | 0 | 95 |
| Utilities | 24 | 322 | 0 | 346 |
| Mexico | Mexico | Mexico | Mexico | Mexico |
| Communication Services | 526 | 0 | 0 | 526 |
| Consumer Staples | 1403 | 0 | 0 | 1403 |
| Financials | 268 | 0 | 0 | 268 |
| Industrials | 90 | 0 | 0 | 90 |
| Materials | 666 | 0 | 0 | 666 |
| Netherlands | Netherlands | Netherlands | Netherlands | Netherlands |
| Real Estate | 52 | 0 | 0 | 52 |
| Philippines | Philippines | Philippines | Philippines | Philippines |
| Communication Services | 0 | 43 | 0 | 43 |
| Consumer Staples | 0 | 17 | 0 | 17 |
| Financials | 46 | 28 | 0 | 74 |
| Industrials | 0 | 123 | 0 | 123 |
| Utilities | 28 | 0 | 0 | 28 |
| Poland | Poland | Poland | Poland | Poland |
| Communication Services | 41 | 29 | 0 | 70 |
| Consumer Discretionary | 0 | 29 | 0 | 29 |
| Energy | 0 | 146 | 0 | 146 |
| Financials | 0 | 332 | 0 | 332 |
| Information Technology | 0 | 86 | 0 | 86 |
| Utilities | 0 | 278 | 0 | 278 |
| Qatar | Qatar | Qatar | Qatar | Qatar |
| Communication Services | 47 | 0 | 0 | 47 |
| Energy | 42 | 0 | 0 | 42 |
| Financials | 169 | 167 | 0 | 336 |
| Industrials | 85 | 0 | 0 | 85 |
| Real Estate | 0 | 42 | 0 | 42 |
| Utilities | 11 | 0 | 0 | 11 |
| Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia |
| Communication Services | 55 | 449 | 0 | 504 |
| Consumer Discretionary | 44 | 0 | 0 | 44 |
| Consumer Staples | 22 | 84 | 0 | 106 |
| Energy | 0 | 740 | 0 | 740 |
| Financials | 49 | 125 | 0 | 174 |
| Health Care | 62 | 0 | 0 | 62 |
| Materials | 266 | 415 | 0 | 681 |
| Real Estate | 0 | 71 | 0 | 71 |

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<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Utilities | 46 | 0 | 0 | 46 |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Communication Services | 241 | 491 | 0 | 732 |
| Consumer Discretionary | 87 | 461 | 0 | 548 |
| Consumer Staples | 402 | 0 | 0 | 402 |
| Energy | 117 | 0 | 0 | 117 |
| Financials | 97 | 430 | 0 | 527 |
| Health Care | 25 | 0 | 0 | 25 |
| Industrials | 89 | 0 | 0 | 89 |
| Materials | 86 | 2732 | 0 | 2818 |
| South Korea | South Korea | South Korea | South Korea | South Korea |
| Communication Services | 0 | 1128 | 0 | 1128 |
| Consumer Discretionary | 0 | 2253 | 0 | 2253 |
| Consumer Staples | 0 | 588 | 0 | 588 |
| Energy | 0 | 527 | 0 | 527 |
| Financials | 0 | 3999 | 0 | 3999 |
| Industrials | 0 | 2848 | 0 | 2848 |
| Information Technology | 0 | 1529 | 0 | 1529 |
| Materials | 145 | 1038 | 0 | 1183 |
| Utilities | 0 | 1266 | 0 | 1266 |
| Taiwan | Taiwan | Taiwan | Taiwan | Taiwan |
| Communication Services | 0 | 873 | 0 | 873 |
| Consumer Discretionary | 0 | 396 | 0 | 396 |
| Consumer Staples | 0 | 448 | 0 | 448 |
| Energy | 0 | 28 | 0 | 28 |
| Financials | 0 | 3758 | 0 | 3758 |
| Industrials | 0 | 1205 | 0 | 1205 |
| Information Technology | 80 | 11554 | 0 | 11634 |
| Materials | 0 | 950 | 0 | 950 |
| Real Estate | 0 | 95 | 0 | 95 |
| Thailand | Thailand | Thailand | Thailand | Thailand |
| Communication Services | 0 | 389 | 0 | 389 |
| Consumer Discretionary | 0 | 67 | 0 | 67 |
| Consumer Staples | 0 | 478 | 0 | 478 |
| Energy | 876 | 153 | 0 | 1029 |
| Financials | 0 | 489 | 0 | 489 |
| Health Care | 0 | 153 | 0 | 153 |
| Industrials | 10 | 0 | 0 | 10 |
| Information Technology | 104 | 212 | 0 | 316 |
| Materials | 0 | 367 | 0 | 367 |
| Real Estate | 36 | 30 | 0 | 66 |
| Utilities | 0 | 20 | 0 | 20 |
| Turkey | Turkey | Turkey | Turkey | Turkey |
| Communication Services | 0 | 114 | 0 | 114 |
| Consumer Discretionary | 0 | 29 | 0 | 29 |
| Consumer Staples | 200 | 51 | 0 | 251 |
| Financials | 76 | 0 | 0 | 76 |
| Industrials | 28 | 257 | 0 | 285 |
| Materials | 0 | 88 | 0 | 88 |
| Utilities | 23 | 0 | 0 | 23 |
| United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates |
| Communication Services | 161 | 0 | 0 | 161 |
| Consumer Discretionary | 68 | 0 | 0 | 68 |
| Energy | 86 | 0 | 0 | 86 |
| Financials | 325 | 374 | 0 | 699 |
| Industrials | 11 | 0 | 0 | 11 |
| Materials | 0 | 62 | 0 | 62 |
| Real Estate | 144 | 193 | 0 | 337 |
| Utilities | 0 | 78 | 0 | 78 |
| United States | United States | United States | United States | United States |
| Health Care | 0 | 406 | 0 | 406 |
| Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks |
| Brazil | Brazil | Brazil | Brazil | Brazil |
| Banking & Finance | 567 | 0 | 0 | 567 |
| Industrials | 549 | 0 | 0 | 549 |
| Utilities | 1270 | 0 | 0 | 1270 |
| Chile | Chile | Chile | Chile | Chile |
| Industrials | 34 | 63 | 0 | 97 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Real Estate | 35 | 0 | 0 | 35 |
| Mutual Funds | 0 | 699 | 0 | 699 |
|  | $16918 | $92766 | $0 | $109684 |
| **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 |
| Mutual Funds | 0 | 9 | 0 | 9 |
| Total Investments | $16918 | $92775 | $0 | $109693 |
| **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 | $2 | $0 | $0 | $2 |
| Total Financial Derivative Instruments | $2 | $0 | $0 | $2 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Totals | $16920 | $92775 | $0 | $109695 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.0% ¤** |  |  |
| **COMMON STOCKS 97.3%**  |  |  |
| **AUSTRALIA 4.2%**  |  |  |
| **COMMUNICATION SERVICES 0.2%**  |  |  |
| **CAR Group Ltd.** | 5750 | $140 |
| **Nine Entertainment Co. Holdings Ltd.** | 16080 | 13 |
| **REA Group Ltd.** | 1458 | 223 |
| **SEEK Ltd.** | 8305 | 156 |
| **Telstra Group Ltd.** | 72872 | 232 |
|  |  | 764 |
| **CONSUMER DISCRETIONARY 0.5%**  |  |  |
| **ARB Corp. Ltd.** | 2655 | 68 |
| **Aristocrat Leisure Ltd.** | 7809 | 361 |
| **Breville Group Ltd.** | 5632 | 112 |
| **Domino's Pizza Enterprises Ltd.** | 3064 | 27 |
| **Eagers Automotive Ltd.** | 3923 | 76 |
| **Harvey Norman Holdings Ltd.** | 28718 | 140 |
| **JB Hi-Fi Ltd.** | 4513 | 346 |
| **Myer Holdings Ltd.** | 16467 | 5 |
| **Super Retail Group Ltd.** | 9447 | 102 |
| **Wesfarmers Ltd.** | 14113 | 859 |
|  |  | 2096 |
| **CONSUMER STAPLES 0.4%**  |  |  |
| **Coles Group Ltd.** | 37951 | 584 |
| **GrainCorp Ltd. Class A** | 24447 | 146 |
| **Metcash Ltd.** | 65549 | 164 |
| **Woolworths Group Ltd.** | 25562 | 451 |
|  |  | 1345 |
| **ENERGY 0.2%**  |  |  |
| **Ampol Ltd.** | 9131 | 180 |
| **New Hope Corp. Ltd.** | 20599 | 53 |
| **Santos Ltd.** | 29028 | 129 |
| **Viva Energy Group Ltd.** | 54645 | 66 |
| **Whitehaven Coal Ltd.** | 10781 | 47 |
| **Woodside Energy Group Ltd.** | 18129 | 274 |
|  |  | 749 |
| **FINANCIALS 0.5%**  |  |  |
| **AMP Ltd.** | 168742 | 185 |
| **ASX Ltd.** | 4413 | 171 |
| **Bank of Queensland Ltd.** | 17179 | 82 |
| **Insurance Australia Group Ltd.** | 58955 | 319 |
| **Magellan Financial Group Ltd.** | 5227 | 33 |
| **Medibank Pvt Ltd.** | 120081 | 383 |
| **National Australia Bank Ltd.** | 5517 | 161 |
| **nib holdings Ltd.** | 15409 | 76 |
| **Perpetual Ltd.** | 3957 | 49 |
| **QBE Insurance Group Ltd.** | 28287 | 385 |
| **Suncorp Group Ltd.** | 15607 | 209 |
|  |  | 2053 |
| **HEALTH CARE 0.3%**  |  |  |
| **Ansell Ltd.** | 6716 | 142 |
| **Cochlear Ltd.** | 362 | 67 |
| **CSL Ltd.** | 2341 | 308 |
| **Sigma Healthcare Ltd.** | 290460 | 570 |
| **Sonic Healthcare Ltd.** | 14957 | 212 |
|  |  | 1299 |
| **INDUSTRIALS 0.6%**  |  |  |
| **ALS Ltd.** | 14662 | 193 |
| **Atlas Arteria Ltd.** | 10791 | 35 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Aurizon** **Holdings Ltd.** | 99492 | 210 |
| **Austal Ltd.** | 15585 | 80 |
| **Brambles Ltd.** | 41295 | 678 |
| **Computershare Ltd.** | 6414 | 154 |
| **Downer EDI Ltd.** | 25475 | 124 |
| **Monadelphous Group Ltd.** | 7098 | 105 |
| **Qantas Airways Ltd.** | 15192 | 110 |
| **SGH Ltd.** | 2178 | 72 |
| **Transurban Group** | 35172 | 321 |
| **Worley Ltd.** | 3903 | 36 |
|  |  | 2118 |
| **MATERIALS 1.3%**  |  |  |
| **BHP Group Ltd.** | 21091 | 589 |
| **BlueScope Steel Ltd.** | 16288 | 245 |
| **Champion Iron Ltd.** | 18643 | 58 |
| **Dyno Nobel Ltd.** | 84481 | 173 |
| **Evolution Mining Ltd.** | 106406 | 759 |
| **Fortescue Ltd.** | 65424 | 810 |
| **IGO Ltd.** | 28623 | 98 |
| **Iluka Resources Ltd.** | 15768 | 66 |
| **Lynas Rare Earths Ltd. (a)** | 15057 | 167 |
| **Mineral Resources Ltd.** | 2871 | 78 |
| **Northern Star Resources Ltd.** | 27064 | 423 |
| **Orica Ltd.** | 8073 | 113 |
| **Regis Resources Ltd.** | 49525 | 196 |
| **Rio Tinto Ltd.** | 9310 | 751 |
| **Sandfire Resources Ltd. (a)** | 18056 | 170 |
| **Sims Ltd.** | 14149 | 125 |
|  |  | 4821 |
| **REAL ESTATE 0.0%**  |  |  |
| **Lendlease Corp. Ltd.** | 18373 | 67 |
| **UTILITIES 0.2%**  |  |  |
| **AGL Energy Ltd.** | 36303 | 213 |
| **APA Group** | 23545 | 138 |
| **Origin Energy Ltd.** | 39397 | 325 |
|  |  | 676 |
| Total Australia |  | 15988 |
| **AUSTRIA 0.3%**  |  |  |
| **ENERGY 0.1%**  |  |  |
| **OMV AG** | 4447 | 238 |
| **FINANCIALS 0.1%**  |  |  |
| **Erste Group Bank AG** | 2337 | 230 |
| **Raiffeisen Bank International AG** | 2977 | 103 |
| **UNIQA Insurance Group AG** | 11991 | 178 |
|  |  | 511 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **ams-OSRAM AG (a)** | 2755 | 39 |
| **MATERIALS 0.1%**  |  |  |
| **voestalpine AG** | 5894 | 211 |
| **REAL ESTATE 0.0%**  |  |  |
| **CA Immobilien Anlagen AG** | 3762 | 103 |
| **UTILITIES 0.0%**  |  |  |
| **Verbund AG** | 960 | 70 |
| Total Austria |  | 1172 |
| **BELGIUM 0.5%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Proximus SADP** | 9499 | 83 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **D'ieteren Group** | 411 | 77 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Colruyt Group NV** | 2158 | 85 |
| **Lotus Bakeries NV** | 5 | 47 |
|  |  | 132 |
| **FINANCIALS 0.1%**  |  |  |
| **Ageas SA** | 1359 | 94 |
| **Gimv NV** | 1319 | 71 |
| **KBC Group NV** | 1488 | 178 |
|  |  | 343 |
| **HEALTH CARE 0.2%**  |  |  |
| **UCB SA** | 2397 | 669 |
| **INDUSTRIALS 0.1%**  |  |  |
| **Ackermans & van Haaren NV** | 523 | 135 |
| **Deme Group NV** | 220 | 32 |
|  |  | 167 |
| **MATERIALS 0.0%**  |  |  |
| **Solvay SA** | 2869 | 91 |
| **Umicore SA** | 2435 | 44 |
|  |  | 135 |
| **UTILITIES 0.1%**  |  |  |
| **Elia Group SA** | 1169 | 135 |
| Total Belgium |  | 1741 |
| **CANADA 8.0%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **BCE, Inc.** | 19696 | 460 |
| **Cogeco Communications, Inc.** | 1180 | 54 |
| **Quebecor, Inc. Class B** | 6026 | 190 |
| **Rogers Communications, Inc. Class B** | 4812 | 166 |
| **TELUS Corp.** | 14589 | 230 |
|  |  | 1100 |
| **CONSUMER DISCRETIONARY 0.7%**  |  |  |
| **BRP, Inc.** | 1145 | 70 |
| **Canadian Tire Corp. Ltd. Class A** | 2846 | 339 |
| **Dollarama, Inc.** | 6615 | 872 |
| **Gildan Activewear, Inc.** | 5188 | 300 |
| **Linamar Corp.** | 1369 | 73 |
| **Lululemon Athletica, Inc. (a)** | 299 | 53 |
| **Magna International, Inc.** | 13208 | 626 |
| **Restaurant Brands International, Inc.** | 2602 | 167 |
|  |  | 2500 |
| **CONSUMER STAPLES 0.8%**  |  |  |
| **Alimentation Couche-Tard, Inc.** | 9519 | 508 |
| **Empire Co. Ltd. Class A** | 8405 | 302 |
| **George Weston Ltd.** | 6993 | 426 |
| **Loblaw Cos. Ltd.** | 24870 | 962 |
| **Maple Leaf Foods, Inc.** | 2915 | 75 |
| **Metro, Inc.** | 6489 | 436 |
| **North West Co., Inc.** | 3026 | 104 |
| **Premium Brands Holdings Corp.** | 1128 | 76 |
| **Saputo, Inc.** | 6820 | 166 |
|  |  | 3055 |
| **ENERGY 1.0%**  |  |  |
| **ARC Resources Ltd.** | 15280 | 279 |
| **Birchcliff Energy Ltd.** | 12944 | 53 |
| **Cameco Corp. (a)** | 4000 | 336 |
| **Canadian Natural Resources Ltd.** | 9540 | 305 |
| **Cenovus Energy, Inc.** | 7426 | 126 |
| **Enbridge, Inc.** | 21278 | 1073 |
| **Enerflex Ltd.** | 9052 | 98 |
| **Gibson Energy, Inc.** | 7947 | 148 |
| **Imperial Oil Ltd.** | 6291 | 570 |
| **Parex Resources, Inc.** | 9025 | 118 |
| **Parkland Corp. (b)** | 2332 | 65 |
| **Peyto Exploration & Development Corp.** | 12211 | 159 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Precision** **Drilling Corp. (a)** | 1365 | 77 |
| **Suncor Energy, Inc.** | 6891 | 288 |
| **Vermilion Energy, Inc.** | 9612 | 75 |
|  |  | 3770 |
| **FINANCIALS 1.7%**  |  |  |
| **Bank of Montreal** | 6612 | 861 |
| **Brookfield Corp.** | 13496 | 926 |
| **Brookfield Wealth Solutions Ltd.** | 2594 | 178 |
| **Canadian Imperial Bank of Commerce** | 8226 | 657 |
| **Definity Financial Corp. (b)** | 636 | 33 |
| **Fairfax Financial Holdings Ltd.** | 812 | 1421 |
| **Great-West Lifeco, Inc. (b)** | 2014 | 82 |
| **IGM Financial, Inc.** | 2964 | 108 |
| **Intact Financial Corp.** | 1959 | 381 |
| **Onex Corp.** | 1589 | 141 |
| **Power Corp. of Canada** | 10600 | 459 |
| **TMX Group Ltd.** | 8288 | 317 |
| **Toronto-Dominion Bank** | 13314 | 1064 |
|  |  | 6628 |
| **HEALTH CARE 0.0%**  |  |  |
| **Bausch Health Cos., Inc. (a)** | 4080 | 26 |
| **INDUSTRIALS 0.7%**  |  |  |
| **Aecon Group, Inc.** | 7677 | 132 |
| **Air Canada (a)** | 9800 | 124 |
| **AtkinsRealis Group, Inc. (b)** | 2000 | 144 |
| **Bombardier, Inc. Class B (a)** | 1300 | 182 |
| **CAE, Inc. (a)** | 2500 | 74 |
| **Canadian National Railway Co.** | 5560 | 524 |
| **Element Fleet Management Corp.** | 1400 | 36 |
| **Finning International, Inc.** | 5471 | 254 |
| **GFL Environmental, Inc.** | 3344 | 159 |
| **Russel Metals, Inc.** | 3814 | 114 |
| **TFI International, Inc.** | 1252 | 110 |
| **Thomson Reuters Corp.** | 1812 | 281 |
| **Toromont Industries Ltd.** | 2735 | 304 |
| **Waste Connections, Inc.** | 687 | 121 |
| **WSP Global, Inc.** | 600 | 118 |
|  |  | 2677 |
| **INFORMATION TECHNOLOGY 0.6%**  |  |  |
| **Canadian Solar, Inc. (a)** | 4914 | 64 |
| **Celestica, Inc. (a)** | 1811 | 446 |
| **CGI, Inc.** | 5192 | 462 |
| **Constellation Software, Inc. (b)** | 100 | 271 |
| **Shopify, Inc. Class A (a)** | 6952 | 1033 |
|  |  | 2276 |
| **MATERIALS 1.7%**  |  |  |
| **Agnico Eagle Mines Ltd. (b)** | 5298 | 892 |
| **Alamos Gold, Inc. Class A** | 9570 | 334 |
| **Algoma Steel Group, Inc.** | 8200 | 29 |
| **Barrick Mining Corp.** | 15988 | 525 |
| **CCL Industries, Inc. Class B** | 865 | 49 |
| **Centerra Gold, Inc.** | 14584 | 156 |
| **China Gold International Resources Corp. Ltd.** | 4100 | 73 |
| **Eldorado Gold Corp. (a)** | 16616 | 480 |
| **First Quantum Minerals Ltd. (a)** | 10405 | 235 |
| **Franco-Nevada Corp.** | 2938 | 654 |
| **IAMGOLD Corp. (a)** | 27610 | 357 |
| **Lundin Gold, Inc.** | 1642 | 106 |
| **Lundin Mining Corp.** | 3600 | 54 |
| **Methanex Corp.** | 4386 | 174 |
| **Nutrien Ltd.** | 5778 | 339 |
| **OR Royalties, Inc.** | 3746 | 150 |
| **Pan American Silver Corp.** | 8519 | 330 |
| **Stella-Jones, Inc. (b)** | 865 | 49 |
| **Teck Resources Ltd. Class B** | 3255 | 143 |
| **Transcontinental, Inc. Class A** | 6063 | 86 |
| **West Fraser Timber Co. Ltd.** | 2683 | 183 |
| **Wheaton Precious Metals Corp.** | 7833 | 877 |
|  |  | 6275 |
| **REAL ESTATE 0.1%**  |  |  |
| **Colliers International Group, Inc.** | 862 | 135 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **FirstService** **Corp.** | 1009 | 192 |
|  |  | 327 |
| **UTILITIES 0.4%**  |  |  |
| **Atco Ltd. Class I** | 4783 | 173 |
| **Canadian Utilities Ltd. Class A** | 3250 | 91 |
| **Capital Power Corp. (b)** | 1100 | 52 |
| **Emera, Inc.** | 6807 | 327 |
| **Fortis, Inc.** | 7621 | 386 |
| **Hydro One Ltd.** | 7193 | 257 |
| **Northland Power, Inc.** | 6778 | 113 |
| **Superior Plus Corp.** | 9324 | 53 |
| **TransAlta Corp.** | 13286 | 181 |
|  |  | 1633 |
| Total Canada |  | 30267 |
| **CHILE 0.1%**  |  |  |
| **MATERIALS 0.1%**  |  |  |
| **Antofagasta PLC** | 9593 | 357 |
| Total Chile |  | 357 |
| **DENMARK 1.2%**  |  |  |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **GN Store Nord AS (a)** | 2382 | 40 |
| **Pandora AS** | 914 | 120 |
|  |  | 160 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Carlsberg AS Class B** | 2075 | 242 |
| **Royal Unibrew AS** | 1368 | 104 |
| **Scandinavian Tobacco Group AS** | 5523 | 76 |
| **Schouw & Co. AS** | 803 | 75 |
|  |  | 497 |
| **FINANCIALS 0.2%**  |  |  |
| **Danske Bank AS** | 6633 | 283 |
| **Jyske Bank AS** | 1201 | 134 |
| **Sydbank AS** | 3190 | 257 |
| **Tryg AS** | 1465 | 37 |
|  |  | 711 |
| **HEALTH CARE 0.3%**  |  |  |
| **Ascendis Pharma AS ADR (a)** | 624 | 124 |
| **Coloplast AS Class B** | 1107 | 95 |
| **Demant AS (a)** | 2499 | 87 |
| **H Lundbeck AS** | 5003 | 36 |
| **Novo Nordisk AS Class B** | 14340 | 799 |
|  |  | 1141 |
| **INDUSTRIALS 0.5%**  |  |  |
| **AP Moller - Maersk AS Class B** | 621 | 1221 |
| **DSV AS** | 2134 | 426 |
| **ISS AS** | 4337 | 138 |
| **Per Aarsleff Holding AS** | 678 | 73 |
|  |  | 1858 |
| **MATERIALS 0.1%**  |  |  |
| **Novonesis Novozymes B Class B** | 4179 | 257 |
| **UTILITIES 0.0%**  |  |  |
| **Orsted AS** | 4326 | 75 |
| Total Denmark |  | 4699 |
| **FINLAND 1.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Elisa OYJ** | 4294 | 225 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Nokian Renkaat OYJ** | 8131 | 74 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Kesko OYJ Class B** | 10220 | 217 |
| **ENERGY 0.0%**  |  |  |
| **Neste OYJ** | 7663 | 141 |
| **FINANCIALS 0.3%**  |  |  |
| **Mandatum OYJ** | 20251 | 136 |
| **Nordea Bank Abp** | 13150 | 217 |
| **Sampo OYJ Class A** | 78623 | 903 |
|  |  | 1256 |
| **HEALTH CARE 0.1%**  |  |  |
| **Orion OYJ Class B** | 5240 | 402 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Kone OYJ Class B** | 8937 | 610 |
| **Konecranes OYJ** | 906 | 75 |
| **Wartsila OYJ Abp** | 10413 | 312 |
|  |  | 997 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **TietoEVRY OYJ** | 8306 | 150 |
| **MATERIALS 0.1%**  |  |  |
| **Kemira OYJ** | 6306 | 142 |
| **Outokumpu OYJ** | 23207 | 106 |
|  |  | 248 |
| **REAL ESTATE 0.0%**  |  |  |
| **Kojamo OYJ** | 5788 | 74 |
| **UTILITIES 0.2%**  |  |  |
| **Fortum OYJ** | 30202 | 573 |
| Total Finland |  | 4357 |
| **FRANCE 6.8%**  |  |  |
| **COMMUNICATION SERVICES 1.0%**  |  |  |
| **Metropole Television SA** | 5158 | 77 |
| **Orange SA** | 182341 | 2958 |
| **Publicis Groupe SA** | 2373 | 228 |
| **Television Francaise 1 SA** | 7324 | 75 |
| **Ubisoft Entertainment SA (a)** | 7977 | 92 |
| **Vivendi SE** | 85084 | 300 |
|  |  | 3730 |
| **CONSUMER DISCRETIONARY 0.6%**  |  |  |
| **Accor SA** | 2483 | 118 |
| **Cie Generale des Etablissements Michelin SCA** | 3739 | 135 |
| **FDJ UNITED** | 1792 | 60 |
| **Forvia SE** | 13150 | 178 |
| **Hermes International SCA** | 243 | 597 |
| **Kering SA** | 548 | 184 |
| **LVMH Moet Hennessy Louis Vuitton SE** | 203 | 125 |
| **Renault SA** | 16702 | 687 |
| **SEB SA** | 1021 | 75 |
| **Valeo SE** | 12726 | 160 |
|  |  | 2319 |
| **CONSUMER STAPLES 0.6%**  |  |  |
| **Carrefour SA** | 64319 | 975 |
| **Danone SA** | 9737 | 848 |
| **L'Oreal SA** | 276 | 120 |
| **Pernod Ricard SA** | 1814 | 179 |
|  |  | 2122 |
| **ENERGY 0.2%**  |  |  |
| **Technip Energies NV** | 3385 | 159 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **TotalEnergies** **SE** | 9159 | 558 |
|  |  | 717 |
| **FINANCIALS 1.2%**  |  |  |
| **Amundi SA** | 435 | 35 |
| **AXA SA** | 9957 | 478 |
| **BNP Paribas SA** | 7348 | 672 |
| **Credit Agricole SA** | 10476 | 206 |
| **SCOR SE** | 10865 | 384 |
| **Societe Generale SA** | 39471 | 2628 |
|  |  | 4403 |
| **HEALTH CARE 0.7%**  |  |  |
| **BioMerieux** | 2728 | 366 |
| **Clariane SE** | 7176 | 40 |
| **Emeis SA (a)** | 3230 | 56 |
| **EssilorLuxottica SA** | 1960 | 638 |
| **Ipsen SA** | 277 | 37 |
| **Sanofi SA** | 15616 | 1479 |
| **Sartorius Stedim Biotech** | 327 | 67 |
|  |  | 2683 |
| **INDUSTRIALS 2.0%**  |  |  |
| **Air France-KLM (a)** | 2629 | 36 |
| **Airbus SE** | 3915 | 914 |
| **Alstom SA** | 5766 | 151 |
| **Ayvens SA** | 3551 | 43 |
| **Bouygues SA** | 9348 | 422 |
| **Bureau Veritas SA** | 9102 | 285 |
| **Cie de Saint-Gobain SA** | 5649 | 612 |
| **Dassault Aviation SA** | 460 | 155 |
| **Eiffage SA** | 603 | 77 |
| **Legrand SA** | 2137 | 355 |
| **Nexans SA** | 1809 | 269 |
| **Rexel SA** | 17238 | 568 |
| **Safran SA** | 3811 | 1352 |
| **Societe BIC SA** | 1820 | 114 |
| **SPIE SA** | 669 | 36 |
| **Thales SA** | 3320 | 1050 |
| **Vinci SA** | 7260 | 1009 |
|  |  | 7448 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Sopra Steria Group** | 675 | 129 |
| **MATERIALS 0.1%**  |  |  |
| **Air Liquide SA** | 1748 | 364 |
| **Eramet SA** | 412 | 27 |
| **Vicat SACA** | 2618 | 185 |
|  |  | 576 |
| **UTILITIES 0.4%**  |  |  |
| **Engie SA** | 68049 | 1463 |
| **Rubis SCA** | 2824 | 106 |
|  |  | 1569 |
| Total France |  | 25696 |
| **GERMANY 6.2%**  |  |  |
| **COMMUNICATION SERVICES 0.4%**  |  |  |
| **Deutsche Telekom AG** | 23855 | 813 |
| **Freenet AG** | 7842 | 251 |
| **Scout24 SE** | 3991 | 501 |
| **United Internet AG** | 1308 | 41 |
|  |  | 1606 |
| **CONSUMER DISCRETIONARY 1.0%**  |  |  |
| **adidas AG** | 1581 | 335 |
| **Aumovio SE (a)** | 2746 | 113 |
| **Bayerische Motoren Werke AG** | 17993 | 1813 |
| **Ceconomy AG** | 9218 | 48 |
| **Continental AG** | 5492 | 363 |
| **Fielmann Group AG** | 1702 | 103 |
| **Hornbach Holding AG & Co. KGaA** | 1371 | 158 |
| **HUGO BOSS AG** | 3643 | 174 |
| **Mercedes-Benz Group AG** | 9901 | 624 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **TUI** **AG (a)** | 10711 | 98 |
|  |  | 3829 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Beiersdorf AG** | 875 | 92 |
| **KWS Saat SE & Co. KGaA** | 1929 | 150 |
| **Suedzucker AG** | 6089 | 67 |
|  |  | 309 |
| **FINANCIALS 1.5%**  |  |  |
| **Allianz SE**  | 2545 | 1071 |
| **Commerzbank AG** | 46155 | 1748 |
| **Deutsche Bank AG** | 40802 | 1445 |
| **Deutsche Boerse AG** | 3575 | 957 |
| **Deutsche Pfandbriefbank AG** | 14157 | 83 |
| **Talanx AG** | 1671 | 223 |
|  |  | 5527 |
| **HEALTH CARE 0.4%**  |  |  |
| **BioNTech SE ADR** | 1078 | 106 |
| **Fresenius Medical Care AG** | 12094 | 639 |
| **Fresenius SE & Co. KGaA** | 9387 | 525 |
| **Gerresheimer AG** | 1123 | 47 |
| **Merck KGaA** | 2245 | 291 |
| **Siemens Healthineers AG** | 1953 | 106 |
|  |  | 1714 |
| **INDUSTRIALS 1.3%**  |  |  |
| **Bilfinger SE** | 3015 | 333 |
| **Daimler Truck Holding AG** | 1121 | 46 |
| **Deutsche Lufthansa AG** | 14779 | 125 |
| **Deutsche Post AG** | 13366 | 597 |
| **Duerr AG** | 921 | 22 |
| **GEA Group AG** | 513 | 38 |
| **Hapag-Lloyd AG** | 578 | 76 |
| **HOCHTIEF AG** | 1061 | 285 |
| **KION Group AG** | 1857 | 126 |
| **Krones AG** | 1304 | 191 |
| **MTU Aero Engines AG** | 1629 | 752 |
| **Rational AG** | 104 | 79 |
| **Rheinmetall AG** | 317 | 741 |
| **Siemens AG** | 6168 | 1665 |
| **Traton SE** | 1046 | 34 |
|  |  | 5110 |
| **INFORMATION TECHNOLOGY 0.6%**  |  |  |
| **Infineon Technologies AG** | 6319 | 248 |
| **SAP SE** | 7424 | 1988 |
|  |  | 2236 |
| **MATERIALS 0.6%**  |  |  |
| **Aurubis AG** | 1863 | 234 |
| **BASF SE** | 4868 | 243 |
| **Heidelberg Materials AG** | 1291 | 292 |
| **K&S AG** | 24082 | 327 |
| **Lanxess AG** | 6637 | 165 |
| **Salzgitter AG** | 5176 | 157 |
| **Symrise AG** | 2975 | 259 |
| **thyssenkrupp AG** | 32027 | 442 |
|  |  | 2119 |
| **REAL ESTATE 0.2%**  |  |  |
| **LEG Immobilien SE** | 3082 | 245 |
| **TAG Immobilien AG** | 8504 | 147 |
| **Vonovia SE** | 6388 | 200 |
|  |  | 592 |
| **UTILITIES 0.1%**  |  |  |
| **E.ON SE** | 25406 | 478 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **RWE** **AG** | 2242 | 100 |
|  |  | 578 |
| Total Germany |  | 23620 |
| **HONG KONG 2.3%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **HKT Trust & HKT Ltd.** | 108000 | 160 |
| **PCCW Ltd.** | 305295 | 209 |
|  |  | 369 |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Bosideng International Holdings Ltd.** | 204000 | 122 |
| **Chow Tai Fook Jewellery Group Ltd.** | 61600 | 123 |
| **Galaxy Entertainment Group Ltd.** | 27000 | 148 |
| **Johnson Electric Holdings Ltd.** | 50000 | 262 |
| **Man Wah Holdings Ltd.** | 40800 | 22 |
| **Melco Resorts & Entertainment Ltd. ADR (a)** | 5950 | 55 |
| **Skyworth Group Ltd.** | 188000 | 111 |
| **Yue Yuen Industrial Holdings Ltd.** | 22500 | 38 |
|  |  | 881 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Alibaba Health Information Technology Ltd. (a)** | 108000 | 92 |
| **WH Group Ltd.** | 278000 | 301 |
|  |  | 393 |
| **FINANCIALS 0.8%**  |  |  |
| **AIA Group Ltd.** | 84600 | 811 |
| **Futu Holdings Ltd. ADR (a)** | 1974 | 343 |
| **Hang Seng Bank Ltd.** | 19700 | 300 |
| **Hong Kong Exchanges & Clearing Ltd.** | 15700 | 891 |
| **Prudential PLC** | 41528 | 582 |
|  |  | 2927 |
| **HEALTH CARE 0.1%**  |  |  |
| **China Medical System Holdings Ltd.** | 24000 | 43 |
| **Grand Pharmaceutical Group Ltd.** | 33500 | 37 |
| **Sino Biopharmaceutical Ltd.** | 113000 | 118 |
| **United Laboratories International Holdings Ltd.** | 84000 | 162 |
|  |  | 360 |
| **INDUSTRIALS 0.4%**  |  |  |
| **Cathay Pacific Airways Ltd.** | 39000 | 53 |
| **CK Hutchison Holdings Ltd.** | 69000 | 453 |
| **Jardine Matheson Holdings Ltd.** | 4200 | 265 |
| **MTR Corp. Ltd.** | 50000 | 169 |
| **Pacific Basin Shipping Ltd.** | 160000 | 52 |
| **SITC International Holdings Co. Ltd.** | 32000 | 123 |
| **Swire Pacific Ltd. Class A** | 19500 | 165 |
| **Xinyi Glass Holdings Ltd.** | 45000 | 52 |
|  |  | 1332 |
| **INFORMATION TECHNOLOGY 0.1%**  |  |  |
| **Kingboard Holdings Ltd.** | 25200 | 90 |
| **Kingboard Laminates Holdings Ltd.** | 53000 | 84 |
| **VSTECS Holdings Ltd.** | 108000 | 149 |
|  |  | 323 |
| **MATERIALS 0.0%**  |  |  |
| **Nine Dragons Paper Holdings Ltd. (a)** | 50000 | 35 |
| **REAL ESTATE 0.3%**  |  |  |
| **CK Asset Holdings Ltd.** | 52500 | 255 |
| **Hongkong Land Holdings Ltd.** | 47400 | 300 |
| **New World Development Co. Ltd.** | 49000 | 49 |
| **Sino Land Co. Ltd.** | 10000 | 13 |
| **Sun Hung Kai Properties Ltd.** | 46000 | 550 |
| **Swire Properties Ltd.** | 13400 | 38 |
| **Wharf Holdings Ltd.** | 42000 | 120 |
|  |  | 1325 |
| **UTILITIES 0.2%**  |  |  |
| **China Gas Holdings Ltd.** | 20200 | 20 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **CK** **Infrastructure Holdings Ltd.** | 16000 | 105 |
| **CLP Holdings Ltd.** | 28100 | 232 |
| **HK Electric Investments & HK Electric Investments Ltd.** | 73000 | 55 |
| **Hong Kong & China Gas Co. Ltd.** | 266972 | 232 |
| **Power Assets Holdings Ltd.** | 33000 | 209 |
|  |  | 853 |
| Total Hong Kong |  | 8798 |
| **IRELAND 1.2%**  |  |  |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Glanbia PLC** | 10807 | 178 |
| **Kerry Group PLC Class A** | 3336 | 301 |
|  |  | 479 |
| **FINANCIALS 0.0%**  |  |  |
| **Bank of Ireland Group PLC** | 3490 | 58 |
| **HEALTH CARE 0.4%**  |  |  |
| **Alkermes PLC (a)** | 1340 | 40 |
| **Medtronic PLC** | 16203 | 1543 |
| **Perrigo Co. PLC** | 1453 | 33 |
|  |  | 1616 |
| **INDUSTRIALS 0.6%**  |  |  |
| **Allegion PLC** | 3181 | 564 |
| **Experian PLC** | 7077 | 355 |
| **Grafton Group PLC** | 7940 | 98 |
| **Kingspan Group PLC** | 2015 | 169 |
| **Ryanair Holdings PLC** | 6290 | 184 |
| **Trane Technologies PLC** | 2107 | 889 |
|  |  | 2259 |
| **MATERIALS 0.1%**  |  |  |
| **James Hardie Industries PLC (a)** | 14788 | 274 |
| Total Ireland |  | 4686 |
| **ISRAEL 1.6%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Bezeq The Israeli Telecommunication Corp. Ltd.** | 64122 | 123 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **Delta Galil Ltd.** | 1541 | 81 |
| **Electra Consumer Products 1970 Ltd.** | 1972 | 69 |
|  |  | 150 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **M Yochananof & Sons Ltd.** | 1544 | 128 |
| **Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.** | 1940 | 179 |
| **Strauss Group Ltd.** | 3134 | 89 |
|  |  | 396 |
| **ENERGY 0.1%**  |  |  |
| **Delek Group Ltd.** | 376 | 91 |
| **Oil Refineries Ltd.** | 213324 | 57 |
| **Paz Retail & Energy Ltd.** | 287 | 59 |
|  |  | 207 |
| **FINANCIALS 0.7%**  |  |  |
| **Bank Hapoalim BM** | 26643 | 542 |
| **Bank Leumi Le-Israel BM** | 31957 | 630 |
| **Harel Insurance Investments & Financial Services Ltd.** | 7429 | 250 |
| **IDI Insurance Co. Ltd.** | 2177 | 134 |
| **Israel Discount Bank Ltd. Class A** | 26780 | 265 |
| **Menora Mivtachim Holdings Ltd.** | 2016 | 198 |
| **Mizrahi Tefahot Bank Ltd.** | 3590 | 236 |
| **Phoenix Financial Ltd.** | 1200 | 45 |
| **Plus500 Ltd.** | 4141 | 179 |
|  |  | 2479 |
| **HEALTH CARE 0.0%**  |  |  |
| **Teva Pharmaceutical Industries Ltd. ADR (a)** | 322 | 7 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **INDUSTRIALS 0.2%**  |  |  |
| **Danel Adir Yeoshua Ltd.** | 954 | 146 |
| **Elbit Systems Ltd.** | 429 | 218 |
| **Elco Ltd.** | 970 | 50 |
| **Electra Ltd.** | 67 | 39 |
| **Hilan Ltd.** | 2149 | 166 |
| **ZIM Integrated Shipping Services Ltd.** | 22156 | 300 |
|  |  | 919 |
| **INFORMATION TECHNOLOGY 0.2%**  |  |  |
| **Check Point Software Technologies Ltd. (a)** | 1644 | 340 |
| **CyberArk Software Ltd. (a)** | 580 | 280 |
| **Nice Ltd. (a)** | 604 | 87 |
| **SolarEdge Technologies, Inc. (a)** | 1133 | 42 |
| **Tower Semiconductor Ltd. (a)** | 568 | 41 |
|  |  | 790 |
| **MATERIALS 0.1%**  |  |  |
| **ICL Group Ltd.** | 33303 | 208 |
| **Israel Corp. Ltd.** | 120 | 37 |
|  |  | 245 |
| **REAL ESTATE 0.2%**  |  |  |
| **Africa Israel Residences Ltd.** | 1899 | 149 |
| **Azrieli Group Ltd.** | 465 | 46 |
| **Big Shopping Centers Ltd.** | 961 | 198 |
| **Melisron Ltd.** | 1750 | 211 |
| **YH Dimri Construction & Development Ltd.** | 999 | 115 |
|  |  | 719 |
| Total Israel |  | 6035 |
| **ITALY 4.0%**  |  |  |
| **COMMUNICATION SERVICES 0.4%**  |  |  |
| **Infrastrutture Wireless Italiane SpA** | 9549 | 112 |
| **MFE-MediaForEurope NV Class A** | 27352 | 103 |
| **MFE-MediaForEurope NV Class B** | 5863 | 30 |
| **Telecom Italia SpA (a)** | 2082351 | 1091 |
|  |  | 1336 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Brembo NV** | 8468 | 90 |
| **Ferrari NV** | 249 | 121 |
| **Moncler SpA** | 3901 | 229 |
| **PRADA SpA** | 4500 | 27 |
|  |  | 467 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Davide Campari-Milano NV** | 6461 | 41 |
| **ENERGY 0.4%**  |  |  |
| **Eni SpA** | 86987 | 1522 |
| **FINANCIALS 1.9%**  |  |  |
| **Azimut Holding SpA** | 7316 | 283 |
| **Banca Generali SpA** | 2274 | 127 |
| **Banca IFIS SpA** | 7897 | 210 |
| **Banca Mediolanum SpA** | 7624 | 153 |
| **Banca Monte dei Paschi di Siena SpA** | 23467 | 209 |
| **Banca Popolare di Sondrio SpA** | 34809 | 545 |
| **Banco BPM SpA** | 41557 | 624 |
| **BPER Banca SpA** | 94093 | 1046 |
| **FinecoBank Banca Fineco SpA** | 8131 | 176 |
| **Generali** | 20535 | 807 |
| **Intesa Sanpaolo SpA** | 111722 | 739 |
| **Poste Italiane SpA** | 2341 | 56 |
| **UniCredit SpA** | 17460 | 1329 |
| **Unipol Assicurazioni SpA** | 35203 | 757 |
|  |  | 7061 |
| **HEALTH CARE 0.1%**  |  |  |
| **DiaSorin SpA** | 444 | 40 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Recordati** **Industria Chimica e Farmaceutica SpA** | 2398 | 146 |
|  |  | 186 |
| **INDUSTRIALS 0.7%**  |  |  |
| **Enav SpA** | 16382 | 83 |
| **Fincantieri SpA (a)** | 2488 | 65 |
| **Iveco Group NV** | 23436 | 508 |
| **Leonardo SpA** | 33101 | 2118 |
| **Webuild SpA** | 12672 | 53 |
|  |  | 2827 |
| **MATERIALS 0.1%**  |  |  |
| **Buzzi SpA** | 4482 | 247 |
| **UTILITIES 0.3%**  |  |  |
| **Enel SpA** | 67413 | 639 |
| **Iren SpA** | 34042 | 106 |
| **Italgas SpA** | 15537 | 143 |
| **Snam SpA** | 42715 | 256 |
| **Terna - Rete Elettrica Nazionale** | 15408 | 156 |
|  |  | 1300 |
| Total Italy |  | 14987 |
| **JAPAN 23.6%**  |  |  |
| **COMMUNICATION SERVICES 2.7%**  |  |  |
| **Capcom Co. Ltd.** | 18800 | 510 |
| **CyberAgent, Inc.** | 28100 | 337 |
| **DeNA Co. Ltd.** | 6700 | 105 |
| **Fuji Media Holdings, Inc.** | 7800 | 185 |
| **GungHo Online Entertainment, Inc.** | 4400 | 81 |
| **Hakuhodo DY Holdings, Inc.** | 4500 | 36 |
| **Internet Initiative Japan, Inc.** | 5700 | 101 |
| **Kadokawa Corp.** | 4000 | 98 |
| **Kakaku.com, Inc.** | 4200 | 72 |
| **KDDI Corp.** | 75300 | 1201 |
| **Koei Tecmo Holdings Co. Ltd.** | 3100 | 40 |
| **Konami Group Corp.** | 1100 | 159 |
| **LY Corp.** | 20200 | 65 |
| **Nexon Co. Ltd.** | 3800 | 83 |
| **Nintendo Co. Ltd.** | 33600 | 2907 |
| **Nippon Television Holdings, Inc.** | 8800 | 235 |
| **NTT, Inc.** | 1569900 | 1641 |
| **SoftBank Corp.** | 647900 | 953 |
| **SoftBank Group Corp.** | 9300 | 1173 |
| **Square Enix Holdings Co. Ltd.** | 10200 | 220 |
| **Toho Co. Ltd.** | 2100 | 135 |
|  |  | 10337 |
| **CONSUMER DISCRETIONARY 3.7%**  |  |  |
| **& ST HD Co. Ltd.** | 4500 | 91 |
| **Aisin Corp.** | 27400 | 473 |
| **Arata Corp.** | 200 | 4 |
| **ASKUL Corp.** | 1100 | 12 |
| **Bandai Namco Holdings, Inc.** | 11800 | 392 |
| **Bridgestone Corp.** | 17700 | 818 |
| **DCM Holdings Co. Ltd.** | 16500 | 179 |
| **Doutor Nichires Holdings Co. Ltd.** | 1900 | 34 |
| **EDION Corp.** | 10800 | 158 |
| **Exedy Corp.** | 6300 | 221 |
| **Fast Retailing Co. Ltd.** | 500 | 152 |
| **Food & Life Cos. Ltd.** | 5400 | 282 |
| **Goldwin, Inc.** | 1500 | 25 |
| **Haseko Corp.** | 3800 | 65 |
| **Heiwa Corp.** | 700 | 10 |
| **Honda Motor Co. Ltd.** | 59700 | 616 |
| **Iida Group Holdings Co. Ltd.** | 6100 | 97 |
| **Isetan Mitsukoshi Holdings Ltd.** | 4500 | 83 |
| **Isuzu Motors Ltd.** | 12400 | 156 |
| **J Front Retailing Co. Ltd.** | 9000 | 150 |
| **JTEKT Corp.** | 17400 | 173 |
| **JVCKenwood Corp.** | 10900 | 85 |
| **K's Holdings Corp.** | 15900 | 172 |
| **Kohnan Shoji Co. Ltd.** | 5500 | 157 |
| **Koito Manufacturing Co. Ltd.** | 5700 | 86 |
| **Mazda Motor Corp.** | 36900 | 269 |
| **McDonald's Holdings Co. Japan Ltd.** | 5900 | 247 |
| **Mitsubishi Motors Corp.** | 32800 | 89 |
| **Mizuno Corp.** | 1200 | 22 |
| **Musashi Seimitsu Industry Co. Ltd.** | 1500 | 35 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **NHK** **Spring Co. Ltd.** | 11000 | 165 |
| **Nikon Corp.** | 11700 | 136 |
| **Nishimatsuya Chain Co. Ltd.** | 6400 | 92 |
| **Nissan Motor Co. Ltd.** | 111500 | 271 |
| **Nitori Holdings Co. Ltd.** | 11000 | 213 |
| **NOK Corp.** | 10200 | 179 |
| **Oriental Land Co. Ltd.** | 1800 | 43 |
| **PALTAC Corp.** | 100 | 3 |
| **Pan Pacific International Holdings Corp.** | 37000 | 243 |
| **Panasonic Holdings Corp.** | 15000 | 163 |
| **Resorttrust, Inc.** | 1800 | 23 |
| **Rinnai Corp.** | 300 | 7 |
| **Ryohin Keikaku Co. Ltd.** | 12000 | 239 |
| **Saizeriya Co. Ltd.** | 5100 | 171 |
| **Sangetsu Corp.** | 900 | 19 |
| **Sankyo Co. Ltd.** | 12600 | 219 |
| **Sega Sammy Holdings, Inc.** | 6200 | 131 |
| **Sekisui House Ltd.** | 9200 | 209 |
| **Shimamura Co. Ltd.** | 1600 | 107 |
| **Shimano, Inc.** | 1700 | 190 |
| **Skylark Holdings Co. Ltd.** | 12700 | 263 |
| **Sony Group Corp.** | 56700 | 1630 |
| **Stanley Electric Co. Ltd.** | 4100 | 83 |
| **Subaru Corp.** | 7000 | 143 |
| **Sumitomo Electric Industries Ltd.** | 31000 | 882 |
| **Sumitomo Forestry Co. Ltd.** | 11800 | 141 |
| **Sumitomo Rubber Industries Ltd.** | 11900 | 144 |
| **Suzuki Motor Corp.** | 10300 | 150 |
| **Takashimaya Co. Ltd.** | 16900 | 193 |
| **Tokai Rika Co. Ltd.** | 5600 | 101 |
| **Token Corp.** | 1700 | 171 |
| **Tomy Co. Ltd.** | 8400 | 181 |
| **Toyo Tire Corp.** | 5800 | 154 |
| **Toyoda Gosei Co. Ltd.** | 6000 | 149 |
| **Toyota Boshoku Corp.** | 6700 | 111 |
| **Toyota Motor Corp.** | 21700 | 417 |
| **TS Tech Co. Ltd.** | 6200 | 78 |
| **USS Co. Ltd.** | 12200 | 140 |
| **Yamada Holdings Co. Ltd.** | 32200 | 106 |
| **Yamaha Corp.** | 2100 | 14 |
| **Yamaha Motor Co. Ltd.** | 14500 | 108 |
| **Yokohama Rubber Co. Ltd.** | 1400 | 52 |
| **Zensho Holdings Co. Ltd.** | 2200 | 144 |
| **ZOZO, Inc.** | 13900 | 128 |
|  |  | 13859 |
| **CONSUMER STAPLES 2.1%**  |  |  |
| **Aeon Co. Ltd.** | 63715 | 773 |
| **Ain Holdings, Inc.** | 100 | 5 |
| **Ajinomoto Co., Inc.** | 27200 | 780 |
| **Calbee, Inc.** | 5200 | 100 |
| **Coca-Cola Bottlers Japan Holdings, Inc.** | 5700 | 102 |
| **Cosmos Pharmaceutical Corp.** | 600 | 35 |
| **Earth Corp.** | 100 | 4 |
| **Ezaki Glico Co. Ltd.** | 1000 | 34 |
| **Fuji Oil Co. Ltd.** | 6800 | 165 |
| **H2O Retailing Corp.** | 4700 | 69 |
| **House Foods Group, Inc.** | 5000 | 98 |
| **Itoham Yonekyu Holdings, Inc.** | 4520 | 174 |
| **Japan Tobacco, Inc.** | 24200 | 794 |
| **Kagome Co. Ltd.** | 4900 | 95 |
| **Kao Corp.** | 14900 | 649 |
| **Kewpie Corp.** | 6100 | 167 |
| **Kikkoman Corp.** | 4900 | 42 |
| **Kirin Holdings Co. Ltd.** | 29500 | 432 |
| **Kobayashi Pharmaceutical Co. Ltd.** | 1000 | 36 |
| **Kobe Bussan Co. Ltd.** | 5500 | 152 |
| **Kusuri No. Aoki Holdings Co. Ltd.** | 900 | 24 |
| **Lion Corp.** | 7200 | 75 |
| **Maruha Nichiro Corp.** | 5300 | 123 |
| **MatsukiyoCocokara & Co.** | 6200 | 126 |
| **MEIJI Holdings Co. Ltd.** | 8400 | 174 |
| **Morinaga & Co. Ltd.** | 9800 | 174 |
| **Morinaga Milk Industry Co. Ltd.** | 3600 | 84 |
| **NH Foods Ltd.** | 6200 | 246 |
| **Nichirei Corp.** | 6000 | 70 |
| **Nippn Corp.** | 6400 | 100 |
| **Nisshin Oillio Group Ltd.** | 4900 | 172 |
| **Nisshin Seifun Group, Inc.** | 6400 | 79 |
| **Nissin Foods Holdings Co. Ltd.** | 4200 | 79 |
| **Pigeon Corp.** | 6700 | 81 |
| **Rohto Pharmaceutical Co. Ltd.** | 5600 | 94 |
| **Sakata Seed Corp.** | 200 | 5 |
| **Seven & i Holdings Co. Ltd.** | 57400 | 770 |
| **Sugi Holdings Co. Ltd.** | 4200 | 101 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sundrug** **Co. Ltd.** | 4200 | 123 |
| **Suntory Beverage & Food Ltd.** | 3000 | 94 |
| **Toyo Suisan Kaisha Ltd.** | 1500 | 107 |
| **Tsuruha Holdings, Inc.** | 8800 | 141 |
| **Unicharm Corp.** | 13200 | 86 |
| **United Super Markets Holdings, Inc.** | 11200 | 73 |
| **Yakult Honsha Co. Ltd.** | 2900 | 47 |
| **Yamazaki Baking Co. Ltd.** | 6300 | 140 |
|  |  | 8094 |
| **ENERGY 0.6%**  |  |  |
| **Cosmo Energy Holdings Co. Ltd.** | 9800 | 237 |
| **ENEOS Holdings, Inc.** | 134900 | 854 |
| **Idemitsu Kosan Co. Ltd.** | 51260 | 351 |
| **Inpex Corp.** | 26500 | 477 |
| **Iwatani Corp.** | 3700 | 40 |
| **Japan Petroleum Exploration Co. Ltd.** | 3900 | 34 |
| **Modec, Inc.** | 1700 | 95 |
|  |  | 2088 |
| **FINANCIALS 2.3%**  |  |  |
| **77 Bank Ltd.** | 1000 | 42 |
| **Chiba Bank Ltd.** | 3700 | 39 |
| **Chugin Financial Group, Inc.** | 2600 | 38 |
| **Credit Saison Co. Ltd.** | 2400 | 64 |
| **Dai-ichi Life Holdings, Inc.** | 77500 | 610 |
| **Daiwa Securities Group, Inc.** | 21000 | 171 |
| **Gunma Bank Ltd.** | 7700 | 86 |
| **Hachijuni Bank Ltd.** | 3800 | 40 |
| **Hokuhoku Financial Group, Inc.** | 10900 | 285 |
| **Hyakujushi Bank Ltd.** | 6500 | 226 |
| **Iyogin Holdings, Inc.** | 2700 | 41 |
| **JAFCO Group Co. Ltd.** | 900 | 16 |
| **Japan Post Bank Co. Ltd.** | 48600 | 595 |
| **Japan Post Holdings Co. Ltd.** | 63900 | 634 |
| **Japan Post Insurance Co. Ltd.** | 8100 | 229 |
| **Kyoto Financial Group, Inc.** | 1800 | 38 |
| **Marui Group Co. Ltd.** | 1800 | 38 |
| **Mebuki Financial Group, Inc.** | 17000 | 108 |
| **Mitsubishi UFJ Financial Group, Inc.** | 71400 | 1152 |
| **Mizuho Financial Group, Inc.** | 58500 | 1966 |
| **MS&AD Insurance Group Holdings, Inc.** | 19700 | 446 |
| **Nanto Bank Ltd.** | 6400 | 220 |
| **Nishi-Nippon Financial Holdings, Inc.** | 13200 | 223 |
| **North Pacific Bank Ltd.** | 10000 | 50 |
| **Rakuten Bank Ltd. (a)** | 2400 | 134 |
| **Resona Holdings, Inc.** | 19000 | 194 |
| **SBI Holdings, Inc.** | 4300 | 187 |
| **Seven Bank Ltd.** | 55100 | 109 |
| **Shizuoka Financial Group, Inc.** | 5800 | 79 |
| **Sompo Holdings, Inc.** | 7600 | 235 |
| **Sony Financial Group, Inc.** | 56700 | 63 |
| **T&D Holdings, Inc.** | 5700 | 139 |
| **Tokio Marine Holdings, Inc.** | 3800 | 161 |
| **Zenkoku Hosho Co. Ltd.** | 400 | 9 |
|  |  | 8667 |
| **HEALTH CARE 1.4%**  |  |  |
| **Alfresa Holdings Corp.** | 10100 | 145 |
| **Astellas Pharma, Inc.** | 44600 | 486 |
| **Chugai Pharmaceutical Co. Ltd.** | 9600 | 426 |
| **Eisai Co. Ltd.** | 3400 | 115 |
| **H.U. Group Holdings, Inc.** | 5100 | 118 |
| **Hoya Corp.** | 2100 | 290 |
| **Kaken Pharmaceutical Co. Ltd.** | 4800 | 119 |
| **Kyowa Kirin Co. Ltd.** | 1400 | 22 |
| **M3, Inc.** | 13500 | 218 |
| **Medipal Holdings Corp.** | 10700 | 184 |
| **Nihon Kohden Corp.** | 1600 | 18 |
| **Olympus Corp.** | 17900 | 226 |
| **Ono Pharmaceutical Co. Ltd.** | 6800 | 79 |
| **Santen Pharmaceutical Co. Ltd.** | 10800 | 120 |
| **Sawai Group Holdings Co. Ltd.** | 4500 | 61 |
| **Shionogi & Co. Ltd.** | 23600 | 416 |
| **Sumitomo Pharma Co. Ltd.** | 8300 | 96 |
| **Suzuken Co. Ltd.** | 3800 | 149 |
| **Takeda Pharmaceutical Co. Ltd.** | 56441 | 1658 |
| **Terumo Corp.** | 7900 | 130 |
| **Toho Holdings Co. Ltd.** | 4000 | 148 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Tsumura** **& Co.** | 4900 | 120 |
|  |  | 5344 |
| **INDUSTRIALS 5.4%**  |  |  |
| **AGC, Inc.** | 5100 | 166 |
| **ALSOK Co. Ltd.** | 15900 | 120 |
| **Amada Co. Ltd.** | 4300 | 53 |
| **ANA Holdings, Inc.** | 7700 | 149 |
| **Central Japan Railway Co.** | 13600 | 390 |
| **COMSYS Holdings Corp.** | 5400 | 135 |
| **Dai Nippon Printing Co. Ltd.** | 12600 | 214 |
| **Daifuku Co. Ltd.** | 2000 | 64 |
| **Daikin Industries Ltd.** | 4200 | 484 |
| **DMG Mori Co. Ltd.** | 6800 | 137 |
| **East Japan Railway Co.** | 27600 | 675 |
| **Ebara Corp.** | 4400 | 100 |
| **EXEO Group, Inc.** | 11000 | 159 |
| **FANUC Corp.** | 12800 | 368 |
| **Fuji Electric Co. Ltd.** | 1600 | 107 |
| **Fujikura Ltd.** | 11500 | 1125 |
| **Fujitec Co. Ltd.** | 3200 | 122 |
| **Furukawa Electric Co. Ltd.** | 4100 | 253 |
| **Glory Ltd.** | 1200 | 30 |
| **Hanwa Co. Ltd.** | 4900 | 208 |
| **Hazama Ando Corp.** | 10500 | 119 |
| **Hikari Tsushin, Inc.** | 400 | 111 |
| **Hino Motors Ltd. (a)** | 22700 | 59 |
| **Hitachi Construction Machinery Co. Ltd.** | 1100 | 35 |
| **Hitachi Ltd.** | 65800 | 1743 |
| **Hoshizaki Corp.** | 2300 | 86 |
| **IHI Corp.** | 18900 | 352 |
| **INFRONEER Holdings, Inc.** | 3700 | 38 |
| **Japan Airlines Co. Ltd.** | 3600 | 72 |
| **Japan Steel Works Ltd.** | 1700 | 103 |
| **JGC Holdings Corp.** | 3700 | 38 |
| **Kajima Corp.** | 7400 | 216 |
| **Kamigumi Co. Ltd.** | 4000 | 121 |
| **Kanadevia Corp.** | 17700 | 122 |
| **Kandenko Co. Ltd.** | 12400 | 340 |
| **Kawasaki Heavy Industries Ltd.** | 5400 | 356 |
| **Keihan Holdings Co. Ltd.** | 600 | 14 |
| **Kinden Corp.** | 6400 | 219 |
| **Kintetsu Group Holdings Co. Ltd.** | 5000 | 104 |
| **Komatsu Ltd.** | 6100 | 212 |
| **Kyushu Railway Co.** | 4300 | 114 |
| **Lixil Corp.** | 13300 | 164 |
| **Marubeni Corp.** | 33600 | 838 |
| **Maruzen Showa Unyu Co. Ltd.** | 3100 | 146 |
| **Meidensha Corp.** | 900 | 36 |
| **MEITEC Group Holdings, Inc.** | 4800 | 104 |
| **Mirait One Corp.** | 5900 | 115 |
| **Mitsubishi Electric Corp.** | 16400 | 421 |
| **Mitsubishi Heavy Industries Ltd.** | 71800 | 1879 |
| **Mitsui OSK Lines Ltd.** | 4300 | 131 |
| **MonotaRO Co. Ltd.** | 6200 | 90 |
| **Nabtesco Corp.** | 1600 | 36 |
| **Nagase & Co. Ltd.** | 6100 | 132 |
| **Nagoya Railroad Co. Ltd.** | 3900 | 47 |
| **Nankai Electric Railway Co. Ltd.** | 5300 | 100 |
| **Nikkon Holdings Co. Ltd.** | 1600 | 37 |
| **Nippon Express Holdings, Inc.** | 6900 | 157 |
| **Nippon Yusen KK** | 11100 | 379 |
| **Nisshinbo Holdings, Inc.** | 16300 | 125 |
| **NSK Ltd.** | 25800 | 133 |
| **NTN Corp.** | 36000 | 83 |
| **Obayashi Corp.** | 17600 | 289 |
| **Park24 Co. Ltd.** | 5100 | 65 |
| **Penta-Ocean Construction Co. Ltd.** | 18300 | 144 |
| **Persol Holdings Co. Ltd.** | 52400 | 95 |
| **Recruit Holdings Co. Ltd.** | 3000 | 161 |
| **Sanwa Holdings Corp.** | 6100 | 174 |
| **Sanyo Denki Co. Ltd.** | 3000 | 71 |
| **Secom Co. Ltd.** | 6900 | 253 |
| **Seibu Holdings, Inc.** | 5900 | 214 |
| **Seino Holdings Co. Ltd.** | 6800 | 100 |
| **Sekisui Chemical Co. Ltd.** | 14200 | 264 |
| **Senko Group Holdings Co. Ltd.** | 12000 | 165 |
| **SG Holdings Co. Ltd.** | 14000 | 145 |
| **Shimizu Corp.** | 6000 | 84 |
| **Shinmaywa Industries Ltd.** | 10900 | 136 |
| **SHO-BOND Holdings Co. Ltd.** | 200 | 7 |
| **SMC Corp.** | 100 | 31 |
| **Sojitz Corp.** | 7540 | 199 |
| **Sotetsu Holdings, Inc.** | 5400 | 97 |
| **Sumitomo Corp.** | 4600 | 133 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sumitomo** **Heavy Industries Ltd.** | 1900 | 46 |
| **Taikisha Ltd.** | 10000 | 193 |
| **Taisei Corp.** | 6500 | 447 |
| **Takasago Thermal Engineering Co. Ltd.** | 2800 | 78 |
| **Takeuchi Manufacturing Co. Ltd.** | 5300 | 185 |
| **THK Co. Ltd.** | 1700 | 47 |
| **Tobu Railway Co. Ltd.** | 4200 | 75 |
| **Tokyu Corp.** | 10400 | 127 |
| **TOPPAN Holdings, Inc.** | 7100 | 182 |
| **TOTO Ltd.** | 900 | 24 |
| **Toyota Industries Corp.** | 1400 | 157 |
| **Toyota Tsusho Corp.** | 20200 | 559 |
| **West Japan Railway Co.** | 14300 | 314 |
| **Yamato Holdings Co. Ltd.** | 13400 | 214 |
| **Yaskawa Electric Corp.** | 4400 | 94 |
| **Yuasa Trading Co. Ltd.** | 4900 | 168 |
|  |  | 20523 |
| **INFORMATION TECHNOLOGY 2.6%**  |  |  |
| **Advantest Corp.** | 11000 | 1088 |
| **Alps Alpine Co. Ltd.** | 15500 | 196 |
| **Azbil Corp.** | 7500 | 71 |
| **BIPROGY, Inc.** | 4800 | 196 |
| **Brother Industries Ltd.** | 5400 | 90 |
| **Canon Marketing Japan, Inc.** | 3600 | 146 |
| **Citizen Watch Co. Ltd.** | 22800 | 154 |
| **Daiwabo Holdings Co. Ltd.** | 6000 | 120 |
| **Dexerials Corp.** | 5100 | 78 |
| **Disco Corp.** | 500 | 157 |
| **DTS Corp.** | 21200 | 188 |
| **FUJIFILM Holdings Corp.** | 21100 | 525 |
| **Fujitsu Ltd.** | 44800 | 1051 |
| **Horiba Ltd.** | 100 | 8 |
| **Hosiden Corp.** | 6500 | 103 |
| **Ibiden Co. Ltd.** | 1700 | 103 |
| **Keyence Corp.** | 100 | 37 |
| **Kokusai Electric Corp.** | 3300 | 94 |
| **Konica Minolta, Inc.** | 42100 | 150 |
| **Murata Manufacturing Co. Ltd.** | 23200 | 440 |
| **NEC Corp.** | 49500 | 1584 |
| **Nippon Electric Glass Co. Ltd.** | 6200 | 203 |
| **Nomura Research Institute Ltd.** | 8500 | 326 |
| **NS Solutions Corp.** | 2300 | 56 |
| **Obic Co. Ltd.** | 9000 | 314 |
| **Omron Corp.** | 3700 | 102 |
| **Oracle Corp. Japan** | 400 | 41 |
| **Otsuka Corp.** | 7800 | 163 |
| **Renesas Electronics Corp.** | 5600 | 64 |
| **Ricoh Co. Ltd.** | 23400 | 206 |
| **Rohm Co. Ltd.** | 3800 | 57 |
| **Sanken Electric Co. Ltd.** | 500 | 24 |
| **SCSK Corp.** | 5500 | 165 |
| **Seiko Epson Corp.** | 9000 | 115 |
| **Socionext, Inc.** | 3600 | 68 |
| **TIS, Inc.** | 5900 | 195 |
| **Tokyo Electron Ltd.** | 3700 | 656 |
| **Tokyo Seimitsu Co. Ltd.** | 1300 | 88 |
| **Toshiba TEC Corp.** | 200 | 4 |
| **Trend Micro, Inc.** | 2600 | 142 |
| **Ulvac, Inc.** | 2600 | 113 |
|  |  | 9681 |
| **MATERIALS 1.6%**  |  |  |
| **Aichi Steel Corp.** | 2600 | 47 |
| **ARE Holdings, Inc.** | 5400 | 78 |
| **Daicel Corp.** | 11700 | 107 |
| **Daido Steel Co. Ltd.** | 4200 | 36 |
| **DIC Corp.** | 1000 | 25 |
| **Dowa Holdings Co. Ltd.** | 200 | 7 |
| **FP Corp.** | 200 | 3 |
| **JFE Holdings, Inc.** | 20000 | 245 |
| **Kaneka Corp.** | 4800 | 137 |
| **Kansai Paint Co. Ltd.** | 3500 | 57 |
| **Kobe Steel Ltd.** | 20600 | 244 |
| **Kuraray Co. Ltd.** | 6800 | 78 |
| **Kureha Corp.** | 1600 | 41 |
| **Mitsubishi Chemical Group Corp.** | 78300 | 450 |
| **Mitsubishi Materials Corp.** | 11300 | 212 |
| **Mitsui Chemicals, Inc.** | 6500 | 163 |
| **Mitsui Mining & Smelting Co. Ltd.** | 4200 | 326 |
| **Nippon Light Metal Holdings Co. Ltd.** | 3600 | 51 |
| **Nippon Paper Industries Co. Ltd.** | 28000 | 231 |
| **Nippon Sanso Holdings Corp.** | 700 | 25 |
| **Nippon Shokubai Co. Ltd.** | 6400 | 79 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Nippon** **Steel Corp.** | 124500 | 513 |
| **Nissan Chemical Corp.** | 1600 | 58 |
| **Nitto Denko Corp.** | 22000 | 522 |
| **NOF Corp.** | 2900 | 51 |
| **Oji Holdings Corp.** | 45200 | 247 |
| **Osaka Soda Co. Ltd.** | 2000 | 22 |
| **Rengo Co. Ltd.** | 10800 | 68 |
| **Shin-Etsu Chemical Co. Ltd.** | 11600 | 380 |
| **Sumitomo Chemical Co. Ltd.** | 113700 | 358 |
| **Sumitomo Osaka Cement Co. Ltd.** | 5300 | 139 |
| **Taiheiyo Cement Corp.** | 5100 | 132 |
| **Taiyo Holdings Co. Ltd.** | 700 | 38 |
| **Teijin Ltd.** | 4100 | 35 |
| **Tokuyama Corp.** | 6000 | 149 |
| **Tokyo Ohka Kogyo Co. Ltd.** | 5800 | 190 |
| **Tokyo Steel Manufacturing Co. Ltd.** | 11100 | 109 |
| **Toray Industries, Inc.** | 15500 | 99 |
| **Tosoh Corp.** | 6000 | 89 |
| **Toyo Seikan Group Holdings Ltd.** | 7900 | 180 |
| **UACJ Corp.** | 4000 | 43 |
| **UBE Corp.** | 6500 | 100 |
| **Yamato Kogyo Co. Ltd.** | 700 | 43 |
|  |  | 6207 |
| **REAL ESTATE 0.2%**  |  |  |
| **Daito Trust Construction Co. Ltd.** | 16000 | 351 |
| **Daiwa House Industry Co. Ltd.** | 4900 | 176 |
| **Mitsubishi Estate Co. Ltd.** | 5500 | 127 |
| **Sumitomo Realty & Development Co. Ltd.** | 1800 | 79 |
|  |  | 733 |
| **UTILITIES 1.0%**  |  |  |
| **Chubu Electric Power Co., Inc.** | 29000 | 403 |
| **Chugoku Electric Power Co., Inc.** | 23000 | 131 |
| **Electric Power Development Co. Ltd.** | 10100 | 189 |
| **Hokkaido Electric Power Co., Inc.** | 44100 | 323 |
| **Hokuriku Electric Power Co.** | 22200 | 127 |
| **Kansai Electric Power Co., Inc.** | 31900 | 456 |
| **Kyushu Electric Power Co., Inc.** | 27700 | 277 |
| **Nippon Gas Co. Ltd.** | 4100 | 77 |
| **Osaka Gas Co. Ltd.** | 12200 | 353 |
| **Shikoku Electric Power Co., Inc.** | 16700 | 148 |
| **Toho Gas Co. Ltd.** | 5200 | 160 |
| **Tohoku Electric Power Co., Inc.** | 27700 | 201 |
| **Tokyo Electric Power Co. Holdings, Inc. (a)** | 92100 | 431 |
| **Tokyo Gas Co. Ltd.** | 16000 | 569 |
|  |  | 3845 |
| Total Japan |  | 89378 |
| **LUXEMBOURG 0.6%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **RTL Group SA** | 2267 | 93 |
| **SES SA** | 22858 | 175 |
|  |  | 268 |
| **ENERGY 0.0%**  |  |  |
| **Tenaris SA** | 3616 | 65 |
| **HEALTH CARE 0.1%**  |  |  |
| **Eurofins Scientific SE** | 3257 | 238 |
| **MATERIALS 0.3%**  |  |  |
| **Aperam SA** | 5235 | 171 |
| **ArcelorMittal SA** | 32055 | 1156 |
|  |  | 1327 |
| **REAL ESTATE 0.1%**  |  |  |
| **Aroundtown SA** | 69740 | 268 |
| Total Luxembourg |  | 2166 |
| **MEXICO 0.0%**  |  |  |
| **MATERIALS 0.0%**  |  |  |
| **Fresnillo PLC** | 2957 | 94 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Total Mexico |  | <br> 94 |
| **NETHERLANDS 3.6%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Koninklijke KPN NV** | 103948 | 499 |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **Just Eat Takeaway.com NV (a)** | 3420 | 81 |
| **Prosus NV** | 8786 | 622 |
| **Stellantis NV** | 55178 | 512 |
|  |  | 1215 |
| **CONSUMER STAPLES 0.7%**  |  |  |
| **Heineken Holding NV** | 2740 | 188 |
| **Heineken NV** | 3856 | 302 |
| **JDE Peet's NV** | 2406 | 88 |
| **Koninklijke Ahold Delhaize NV** | 52954 | 2143 |
|  |  | 2721 |
| **ENERGY 0.1%**  |  |  |
| **Koninklijke Vopak NV** | 3617 | 166 |
| **SBM Offshore NV** | 6113 | 156 |
|  |  | 322 |
| **FINANCIALS 1.1%**  |  |  |
| **ABN AMRO Bank NV** | 33912 | 1088 |
| **Aegon Ltd.** | 74328 | 599 |
| **ASR Nederland NV** | 5683 | 387 |
| **Euronext NV** | 3657 | 548 |
| **ING Groep NV** | 35446 | 929 |
| **NN Group NV** | 6585 | 464 |
|  |  | 4015 |
| **HEALTH CARE 0.2%**  |  |  |
| **Argenx SE ADR (a)** | 771 | 568 |
| **Qiagen NV** | 3827 | 171 |
|  |  | 739 |
| **INDUSTRIALS 0.3%**  |  |  |
| **Arcadis NV** | 2844 | 144 |
| **Ferrovial SE** | 8029 | 461 |
| **IMCD NV** | 1046 | 108 |
| **Randstad NV** | 4540 | 194 |
| **TKH Group NV** | 1177 | 51 |
| **Wolters Kluwer NV** | 2858 | 390 |
|  |  | 1348 |
| **INFORMATION TECHNOLOGY 0.5%**  |  |  |
| **ASM International NV** | 462 | 279 |
| **ASML Holding NV** | 1046 | 1020 |
| **BE Semiconductor Industries NV** | 1181 | 177 |
| **NXP Semiconductors NV** | 1609 | 366 |
|  |  | 1842 |
| **MATERIALS 0.3%**  |  |  |
| **Akzo Nobel NV** | 13442 | 959 |
| **OCI NV** | 12232 | 57 |
|  |  | 1016 |
| Total Netherlands |  | 13717 |
| **NEW ZEALAND 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Spark New Zealand Ltd.** | 46619 | 64 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **a2 Milk Co. Ltd.** | 6508 | 37 |
| **HEALTH CARE 0.1%**  |  |  |
| **Fisher & Paykel Healthcare Corp. Ltd. Class C** | 7102 | 153 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **INDUSTRIALS 0.0%**  |  |  |
| **Auckland International Airport Ltd.** | 19230 | 88 |
| **Fletcher Building Ltd.** | 30190 | 59 |
|  |  | 147 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Xero Ltd. (a)** | 1318 | 137 |
| **UTILITIES 0.1%**  |  |  |
| **Contact Energy Ltd.** | 18188 | 96 |
| **Meridian Energy Ltd.** | 25694 | 83 |
|  |  | 179 |
| Total New Zealand |  | 717 |
| **NORWAY 1.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Telenor ASA** | 29364 | 488 |
| **Vend Marketplaces ASA** | 1070 | 38 |
|  |  | 526 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **Mowi ASA** | 17009 | 360 |
| **Orkla ASA** | 28588 | 299 |
| **Salmar ASA** | 1354 | 72 |
|  |  | 731 |
| **ENERGY 0.2%**  |  |  |
| **Aker BP ASA** | 2005 | 51 |
| **Aker Solutions ASA** | 41727 | 125 |
| **Equinor ASA** | 15507 | 378 |
| **Frontline PLC** | 1606 | 37 |
| **Var Energi ASA** | 21821 | 73 |
|  |  | 664 |
| **FINANCIALS 0.3%**  |  |  |
| **DNB Bank ASA** | 27100 | 739 |
| **Gjensidige Forsikring ASA** | 5731 | 168 |
| **SpareBank 1 Nord Norge** | 3080 | 44 |
| **Storebrand ASA** | 2738 | 42 |
|  |  | 993 |
| **INDUSTRIALS 0.2%**  |  |  |
| **Kongsberg Gruppen ASA** | 15199 | 486 |
| **MPC Container Ships ASA** | 36313 | 60 |
| **TOMRA Systems ASA** | 9206 | 138 |
| **Wallenius Wilhelmsen ASA** | 3068 | 27 |
| **Wilh Wilhelmsen Holding ASA Class A (a)** | 813 | 41 |
|  |  | 752 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Atea ASA** | 12723 | 183 |
| **MATERIALS 0.2%**  |  |  |
| **Norsk Hydro ASA** | 30960 | 210 |
| **Yara International ASA** | 13768 | 505 |
|  |  | 715 |
| Total Norway |  | 4564 |
| **PORTUGAL 0.3%**  |  |  |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Jeronimo Martins SGPS SA** | 6429 | 156 |
| **ENERGY 0.0%**  |  |  |
| **Galp Energia SGPS SA** | 7812 | 148 |
| **FINANCIALS 0.1%**  |  |  |
| **Banco Comercial Portugues SA Class R** | 182519 | 162 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **UTILITIES 0.2%**  |  |  |
| **EDP SA** | 128684 | 611 |
| **REN - Redes Energeticas Nacionais SGPS SA** | 33089 | 119 |
|  |  | 730 |
| Total Portugal |  | 1196 |
| **SINGAPORE 2.1%**  |  |  |
| **COMMUNICATION SERVICES 0.3%**  |  |  |
| **JOYY, Inc. ADR** | 1545 | 91 |
| **Netlink NBN Trust** | 120900 | 89 |
| **Singapore Telecommunications Ltd.** | 301900 | 965 |
|  |  | 1145 |
| **CONSUMER DISCRETIONARY 0.3%**  |  |  |
| **Sea Ltd. ADR (a)** | 5831 | 1042 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Golden Agri-Resources Ltd.** | 714300 | 163 |
| **Wilmar International Ltd.** | 97300 | 215 |
|  |  | 378 |
| **ENERGY 0.0%**  |  |  |
| **BW LPG Ltd.** | 4447 | 64 |
| **FINANCIALS 1.0%**  |  |  |
| **DBS Group Holdings Ltd.** | 47170 | 1871 |
| **Oversea-Chinese Banking Corp. Ltd.** | 59400 | 757 |
| **Singapore Exchange Ltd.** | 26800 | 344 |
| **United Overseas Bank Ltd.** | 26300 | 706 |
|  |  | 3678 |
| **INDUSTRIALS 0.4%**  |  |  |
| **ComfortDelGro Corp. Ltd.** | 86300 | 97 |
| **Grab Holdings Ltd. Class A (a)** | 21078 | 127 |
| **Jardine Cycle & Carriage Ltd.** | 4700 | 105 |
| **Keppel Ltd.** | 46300 | 320 |
| **Singapore Airlines Ltd.** | 72200 | 365 |
| **Singapore Technologies Engineering Ltd.** | 57300 | 383 |
|  |  | 1397 |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Venture Corp. Ltd.** | 11100 | 120 |
| **UTILITIES 0.0%**  |  |  |
| **Sembcorp Industries Ltd.** | 23300 | 109 |
| Total Singapore |  | 7933 |
| **SOUTH AFRICA 0.0%**  |  |  |
| **FINANCIALS 0.0%**  |  |  |
| **Investec PLC** | 6604 | 49 |
| Total South Africa |  | 49 |
| **SPAIN 4.3%**  |  |  |
| **COMMUNICATION SERVICES 0.4%**  |  |  |
| **Cellnex Telecom SA** | 8434 | 292 |
| **Telefonica SA** | 250709 | 1291 |
|  |  | 1583 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Amadeus IT Group SA** | 1295 | 103 |
| **Gestamp Automocion SA** | 25192 | 98 |
| **Industria de Diseno Textil SA** | 5950 | 329 |
|  |  | 530 |
| **CONSUMER STAPLES 0.1%**  |  |  |
| **Viscofan SA** | 2284 | 156 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **ENERGY 0.3%**  |  |  |
| **Repsol SA** | 69512 | 1236 |
| **FINANCIALS 2.0%**  |  |  |
| **Banco Bilbao Vizcaya Argentaria SA** | 53916 | 1039 |
| **Banco de Sabadell SA** | 427975 | 1670 |
| **Banco Santander SA** | 322522 | 3385 |
| **Bankinter SA** | 11354 | 179 |
| **CaixaBank SA** | 25371 | 268 |
| **Mapfre SA** | 82115 | 390 |
| **Unicaja Banco SA** | 172906 | 476 |
|  |  | 7407 |
| **HEALTH CARE 0.1%**  |  |  |
| **Almirall SA** | 8194 | 111 |
| **Grifols SA** | 22548 | 328 |
|  |  | 439 |
| **INDUSTRIALS 0.3%**  |  |  |
| **ACS Actividades de Construccion y Servicios SA** | 7290 | 584 |
| **Aena SME SA** | 7440 | 203 |
| **Logista Integral SA** | 5401 | 184 |
| **Sacyr SA** | 37849 | 159 |
|  |  | 1130 |
| **MATERIALS 0.0%**  |  |  |
| **Acerinox SA** | 10561 | 139 |
| **UTILITIES 1.0%**  |  |  |
| **EDP Renovaveis SA** | 5281 | 70 |
| **Enagas SA** | 9896 | 154 |
| **Endesa SA** | 22562 | 721 |
| **Iberdrola SA** | 105825 | 2003 |
| **Naturgy Energy Group SA** | 6908 | 215 |
| **Redeia Corp. SA** | 25482 | 492 |
|  |  | 3655 |
| Total Spain |  | 16275 |
| **SWEDEN 2.3%**  |  |  |
| **COMMUNICATION SERVICES 0.5%**  |  |  |
| **Spotify Technology SA (a)** | 901 | 629 |
| **Tele2 AB Class B** | 30879 | 527 |
| **Telia Co. AB** | 218929 | 835 |
|  |  | 1991 |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Autoliv, Inc.** | 917 | 113 |
| **Betsson AB Class B** | 3752 | 62 |
| **Bilia AB Class A** | 6146 | 75 |
| **Electrolux AB Class B (a)** | 9810 | 54 |
| **Scandic Hotels Group AB** | 27457 | 260 |
| **Thule Group AB** | 1427 | 35 |
|  |  | 599 |
| **CONSUMER STAPLES 0.2%**  |  |  |
| **AAK AB** | 6447 | 168 |
| **Axfood AB** | 3698 | 115 |
| **Essity AB Class B** | 15471 | 404 |
|  |  | 687 |
| **FINANCIALS 0.3%**  |  |  |
| **Avanza Bank Holding AB** | 1027 | 38 |
| **Skandinaviska Enskilda Banken AB Class A** | 3808 | 75 |
| **Svenska Handelsbanken AB Class A** | 32154 | 420 |
| **Swedbank AB Class A** | 16377 | 494 |
|  |  | 1027 |
| **HEALTH CARE 0.1%**  |  |  |
| **Elekta AB Class B** | 4036 | 21 |
| **Getinge AB Class B** | 5253 | 113 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Swedish** **Orphan Biovitrum AB (a)** | 2417 | 74 |
|  |  | 208 |
| **INDUSTRIALS 0.7%**  |  |  |
| **AddTech AB Class B** | 4817 | 157 |
| **Atlas Copco AB Class A** | 19502 | 331 |
| **Epiroc AB Class A** | 11032 | 233 |
| **Lifco AB Class B** | 2700 | 91 |
| **Nibe Industrier AB Class B** | 11803 | 47 |
| **Saab AB Class B** | 4178 | 257 |
| **Sandvik AB** | 15986 | 446 |
| **Securitas AB Class B** | 7384 | 111 |
| **Skanska AB Class B** | 3390 | 88 |
| **SKF AB Class B** | 6463 | 161 |
| **Volvo AB Class B** | 22713 | 653 |
|  |  | 2575 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **Hexagon AB Class B** | 5728 | 68 |
| **Mycronic AB** | 3639 | 83 |
| **Telefonaktiebolaget LM Ericsson Class B** | 136324 | 1130 |
|  |  | 1281 |
| **MATERIALS 0.1%**  |  |  |
| **Boliden AB** | 1642 | 67 |
| **Hexpol AB** | 5509 | 50 |
| **SSAB AB Class A** | 40302 | 242 |
|  |  | 359 |
| **REAL ESTATE 0.0%**  |  |  |
| **Samhallsbyggnadsbolaget i Norden AB (a)** | 59037 | 32 |
| Total Sweden |  | 8759 |
| **SWITZERLAND 6.8%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Swisscom AG** | 755 | 549 |
| **CONSUMER DISCRETIONARY 0.2%**  |  |  |
| **Cie Financiere Richemont SA Class A** | 1757 | 337 |
| **Garmin Ltd.** | 2380 | 586 |
|  |  | 923 |
| **CONSUMER STAPLES 0.8%**  |  |  |
| **Barry Callebaut AG** | 97 | 134 |
| **Chocoladefabriken Lindt & Spruengli AG** | 20 | 306 |
| **Coca-Cola HBC AG** | 4898 | 231 |
| **Emmi AG** | 63 | 54 |
| **Nestle SA** | 23570 | 2165 |
|  |  | 2890 |
| **FINANCIALS 2.1%**  |  |  |
| **Baloise Holding AG** | 2266 | 561 |
| **Banque Cantonale Vaudoise** | 704 | 83 |
| **Cembra Money Bank AG** | 1468 | 169 |
| **Helvetia Holding AG** | 1362 | 335 |
| **Julius Baer Group Ltd.** | 2770 | 193 |
| **Partners Group Holding AG** | 196 | 256 |
| **St. Galler Kantonalbank AG Class A** | 168 | 107 |
| **Swiss Life Holding AG** | 662 | 715 |
| **Swiss Re AG** | 8897 | 1652 |
| **UBS Group AG** | 13562 | 558 |
| **Valiant Holding AG** | 1233 | 200 |
| **Vaudoise Assurances Holding SA** | 141 | 110 |
| **Zurich Insurance Group AG** | 3978 | 2843 |
|  |  | 7782 |
| **HEALTH CARE 1.6%**  |  |  |
| **CRISPR Therapeutics AG (a)** | 1234 | 80 |
| **Galderma Group AG** | 585 | 103 |
| **Galenica AG** | 1592 | 173 |
| **Novartis AG** | 20866 | 2683 |
| **Roche Holding AG** | 7603 | 2532 |
| **Sandoz Group AG** | 2988 | 178 |
| **Sonova Holding AG** | 855 | 235 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Straumann** **Holding AG** | 438 | 47 |
|  |  | 6031 |
| **INDUSTRIALS 1.2%**  |  |  |
| **ABB Ltd.** | 10091 | 730 |
| **Adecco Group AG** | 12615 | 356 |
| **Belimo Holding AG** | 217 | 228 |
| **Bucher Industries AG** | 223 | 106 |
| **Daetwyler Holding AG** | 603 | 106 |
| **DKSH Holding AG** | 1469 | 100 |
| **dormakaba Holding AG** | 229 | 211 |
| **Flughafen Zurich AG** | 510 | 156 |
| **Forbo Holding AG** | 55 | 50 |
| **Geberit AG** | 295 | 223 |
| **Georg Fischer AG** | 1299 | 102 |
| **Kuehne & Nagel International AG** | 1254 | 235 |
| **Schindler Holding AG** | 1895 | 721 |
| **SGS SA** | 2264 | 235 |
| **Siemens Energy AG (a)** | 4640 | 546 |
| **Stadler Rail AG** | 1436 | 35 |
| **Sulzer AG** | 828 | 141 |
| **VAT Group AG** | 358 | 143 |
|  |  | 4424 |
| **INFORMATION TECHNOLOGY 0.1%**  |  |  |
| **ALSO Holding AG** | 118 | 36 |
| **Landis & Gyr Group AG** | 1640 | 133 |
| **Logitech International SA** | 428 | 47 |
| **Temenos AG** | 818 | 67 |
|  |  | 283 |
| **MATERIALS 0.4%**  |  |  |
| **EMS-Chemie Holding AG** | 113 | 80 |
| **Givaudan SA** | 110 | 449 |
| **Glencore PLC** | 101227 | 466 |
| **Holcim AG** | 4232 | 361 |
| **SIG Group AG** | 5335 | 55 |
| **Sika AG** | 92 | 21 |
|  |  | 1432 |
| **REAL ESTATE 0.3%**  |  |  |
| **Allreal Holding AG** | 858 | 201 |
| **International Workplace Group PLC** | 16282 | 49 |
| **PSP Swiss Property AG** | 1918 | 330 |
| **Swiss Prime Site AG** | 3603 | 505 |
|  |  | 1085 |
| **UTILITIES 0.0%**  |  |  |
| **BKW AG** | 797 | 171 |
| Total Switzerland |  | 25570 |
| **TAIWAN 0.0%**  |  |  |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **FIT Hon Teng Ltd. (a)** | 61000 | 50 |
| Total Taiwan |  | 50 |
| **UNITED KINGDOM 14.3%**  |  |  |
| **COMMUNICATION SERVICES 0.6%**  |  |  |
| **Airtel Africa PLC** | 12271 | 40 |
| **Auto Trader Group PLC** | 13926 | 148 |
| **BT Group PLC** | 337614 | 869 |
| **Vodafone Group PLC** | 1070734 | 1245 |
| **WPP PLC** | 20667 | 103 |
|  |  | 2405 |
| **CONSUMER DISCRETIONARY 0.9%**  |  |  |
| **B&M European Value Retail SA** | 70256 | 248 |
| **Barratt Redrow PLC** | 23601 | 124 |
| **Berkeley Group Holdings PLC** | 2420 | 125 |
| **Burberry Group PLC** | 10958 | 173 |
| **Compass Group PLC** | 9544 | 325 |
| **Deliveroo PLC (a)** | 15047 | 36 |
| **Entain PLC** | 11070 | 131 |
| **Frasers Group PLC (a)** | 11148 | 112 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Games** **Workshop Group PLC** | 1278 | 251 |
| **Greggs PLC** | 4311 | 93 |
| **Inchcape PLC** | 10284 | 96 |
| **InterContinental Hotels Group PLC** | 2216 | 268 |
| **Kingfisher PLC** | 69689 | 290 |
| **Mitchells & Butlers PLC (a)** | 30993 | 103 |
| **Next PLC** | 1310 | 218 |
| **Pearson PLC** | 20663 | 294 |
| **Persimmon PLC** | 19201 | 300 |
| **Pets at Home Group PLC** | 16538 | 46 |
| **Taylor Wimpey PLC** | 146702 | 204 |
| **Whitbread PLC** | 872 | 38 |
|  |  | 3475 |
| **CONSUMER STAPLES 3.8%**  |  |  |
| **Associated British Foods PLC** | 2141 | 59 |
| **British American Tobacco PLC** | 75731 | 4028 |
| **Coca-Cola Europacific Partners PLC** | 2396 | 216 |
| **Cranswick PLC** | 1925 | 130 |
| **Diageo PLC** | 17709 | 424 |
| **Imperial Brands PLC** | 34760 | 1477 |
| **J Sainsbury PLC** | 175193 | 788 |
| **Marks & Spencer Group PLC** | 109129 | 535 |
| **Premier Foods PLC** | 65423 | 169 |
| **Reckitt Benckiser Group PLC** | 20254 | 1559 |
| **Tate & Lyle PLC** | 19286 | 117 |
| **Tesco PLC** | 350186 | 2099 |
| **Unilever PLC** | 45372 | 2682 |
|  |  | 14283 |
| **ENERGY 0.5%**  |  |  |
| **BP PLC** | 281391 | 1616 |
| **Shell PLC** | 2699 | 96 |
| **Subsea 7 SA** | 13721 | 285 |
|  |  | 1997 |
| **FINANCIALS 3.2%**  |  |  |
| **3i Group PLC** | 24562 | 1354 |
| **Aberdeen Group PLC** | 69602 | 185 |
| **Admiral Group PLC** | 12116 | 547 |
| **Aviva PLC** | 62017 | 574 |
| **Barclays PLC** | 268875 | 1383 |
| **Close Brothers Group PLC** | 8383 | 56 |
| **HSBC Holdings PLC** | 190101 | 2683 |
| **IG Group Holdings PLC** | 21452 | 311 |
| **Legal & General Group PLC** | 103265 | 332 |
| **Lion Finance Group PLC** | 471 | 49 |
| **Lloyds Banking Group PLC** | 777716 | 880 |
| **London Stock Exchange Group PLC** | 4309 | 494 |
| **M&G PLC** | 160921 | 549 |
| **Man Group PLC** | 57737 | 139 |
| **NatWest Group PLC** | 203923 | 1440 |
| **OSB Group PLC** | 5103 | 39 |
| **Phoenix Group Holdings PLC** | 6852 | 59 |
| **Schroders PLC** | 23438 | 119 |
| **St. James's Place PLC** | 10091 | 173 |
| **Standard Chartered PLC** | 31868 | 618 |
|  |  | 11984 |
| **HEALTH CARE 1.1%**  |  |  |
| **AstraZeneca PLC** | 4301 | 659 |
| **Convatec Group PLC** | 46765 | 146 |
| **Genus PLC** | 1180 | 38 |
| **GSK PLC** | 102838 | 2208 |
| **Haleon PLC** | 162884 | 733 |
| **Hikma Pharmaceuticals PLC** | 7216 | 166 |
| **Smith & Nephew PLC** | 17690 | 321 |
|  |  | 4271 |
| **INDUSTRIALS 2.3%**  |  |  |
| **Ashtead Group PLC** | 3612 | 242 |
| **Babcock International Group PLC** | 32643 | 587 |
| **BAE Systems PLC** | 104424 | 2907 |
| **Balfour Beatty PLC** | 27065 | 236 |
| **Bunzl PLC** | 5525 | 175 |
| **Diploma PLC** | 3072 | 220 |
| **Firstgroup PLC** | 57456 | 174 |
| **Howden Joinery Group PLC** | 25376 | 289 |
| **IMI PLC** | 8938 | 276 |
| **International Consolidated Airlines Group SA** | 74145 | 386 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Intertek** **Group PLC** | 5306 | 338 |
| **Melrose Industries PLC** | 21670 | 179 |
| **Morgan Sindall Group PLC** | 3484 | 208 |
| **Pagegroup PLC** | 12792 | 39 |
| **QinetiQ Group PLC** | 13704 | 102 |
| **RELX PLC** | 12513 | 598 |
| **Rentokil Initial PLC** | 35046 | 178 |
| **Rolls-Royce Holdings PLC** | 45113 | 725 |
| **Rotork PLC** | 17660 | 81 |
| **RS Group PLC** | 10869 | 83 |
| **Smiths Group PLC** | 5306 | 168 |
| **Travis Perkins PLC** | 11580 | 95 |
| **Weir Group PLC** | 5832 | 215 |
|  |  | 8501 |
| **INFORMATION TECHNOLOGY 0.2%**  |  |  |
| **Computacenter PLC** | 2842 | 103 |
| **Halma PLC** | 6737 | 313 |
| **Sage Group PLC** | 19390 | 288 |
|  |  | 704 |
| **MATERIALS 1.0%**  |  |  |
| **Anglo American PLC** | 25335 | 955 |
| **Anglogold Ashanti PLC** | 9467 | 666 |
| **Croda International PLC** | 4505 | 164 |
| **Johnson Matthey PLC** | 10440 | 283 |
| **Mondi PLC** | 14796 | 205 |
| **Rio Tinto PLC** | 21340 | 1406 |
|  |  | 3679 |
| **UTILITIES 0.7%**  |  |  |
| **Centrica PLC** | 184655 | 415 |
| **Drax Group PLC** | 23016 | 217 |
| **National Grid PLC** | 83662 | 1202 |
| **Pennon Group PLC** | 12938 | 82 |
| **Severn Trent PLC** | 9094 | 317 |
| **SSE PLC** | 5848 | 137 |
| **United Utilities Group PLC** | 22803 | 352 |
|  |  | 2722 |
| Total United Kingdom |  | 54021 |
| **UNITED STATES 0.4%**  |  |  |
| **CONSUMER DISCRETIONARY 0.1%**  |  |  |
| **Carnival PLC (a)** | 10101 | 269 |
| **ENERGY 0.0%**  |  |  |
| **Diversified Energy Co. PLC** | 4875 | 68 |
| **FINANCIALS 0.1%**  |  |  |
| **Brookfield Asset Management Ltd. Class A** | 6857 | 390 |
| **INDUSTRIALS 0.1%**  |  |  |
| **RB Global, Inc.** | 6447 | 698 |
| **MATERIALS 0.1%**  |  |  |
| **SSR Mining, Inc. (a)** | 10178 | 249 |
| Total United States |  | 1674 |
| Total Common Stocks (Cost $289,478) |  | 368566 |
| **PREFERRED STOCKS 0.6%**  |  |  |
| **GERMANY 0.6%**  |  |  |
| **INDUSTRIALS 0.6%**  |  |  |
| **Draegerwerk AG & Co. KGaA** | 917 | 68 |
| **FUCHS SE** | 5242 | 235 |
| **Henkel AG & Co. KGaA** | 3600 | 291 |
| **KSB SE & Co. KGaA** | 108 | 108 |
| **Sartorius AG** | 274 | 64 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Volkswagen** **AG** | 13349 | 1447 |
|  |  | 2213 |
| Total Preferred Stocks (Cost $2,119) |  | 2213 |
| **REAL ESTATE INVESTMENT TRUSTS 1.1%**  |  |  |
| **AUSTRALIA 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Charter Hall Group** | 17694 | 266 |
| **Stockland** | 44532 | 180 |
|  |  | 446 |
| Total Australia |  | 446 |
| **BELGIUM 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Cofinimmo SA** | 1308 | 114 |
| **Retail Estates NV** | 2374 | 177 |
| **Warehouses De Pauw CVA** | 2828 | 71 |
|  |  | 362 |
| Total Belgium |  | 362 |
| **CANADA 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **Allied Properties Real Estate Investment Trust** | 5345 | 80 |
| Total Canada |  | 80 |
| **FRANCE 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Klepierre SA** | 6490 | 253 |
| Total France |  | 253 |
| **HONG KONG 0.1%**  |  |  |
| **REAL ESTATE 0.1%**  |  |  |
| **Fortune Real Estate Investment Trust** | 93000 | 60 |
| **Link REIT** | 78600 | 404 |
|  |  | 464 |
| Total Hong Kong |  | 464 |
| **JAPAN 0.6%**  |  |  |
| **REAL ESTATE 0.6%**  |  |  |
| **Activia Properties, Inc.** | 21 | 19 |
| **Advance Residence Investment Corp.** | 102 | 115 |
| **AEON REIT Investment Corp.** | 65 | 57 |
| **Daiwa House REIT Investment Corp.** | 100 | 85 |
| **Daiwa Office Investment Corp.** | 4 | 10 |
| **GLP J-Reit** | 63 | 58 |
| **Hulic Reit, Inc.** | 57 | 65 |
| **Industrial & Infrastructure Fund Investment Corp.** | 57 | 52 |
| **Invincible Investment Corp.** | 284 | 130 |
| **Japan Hotel REIT Investment Corp.** | 383 | 231 |
| **Japan Metropolitan Fund Invest** | 169 | 130 |
| **Japan Prime Realty Investment Corp.** | 35 | 24 |
| **Japan Real Estate Investment Corp.** | 319 | 269 |
| **KDX Realty Investment Corp.** | 66 | 75 |
| **LaSalle Logiport REIT** | 167 | 162 |
| **Mori Hills REIT Investment Corp.** | 58 | 56 |
| **Nippon Building Fund, Inc.** | 54 | 51 |
| **Nippon Prologis REIT, Inc.** | 135 | 79 |
| **Nomura Real Estate Master Fund, Inc.** | 65 | 71 |
| **Orix JREIT, Inc.** | 124 | 84 |
| **Sekisui House Reit, Inc.** | 161 | 87 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **United** **Urban Investment Corp.** | 103 | 125 |
|  |  | 2035 |
| Total Japan |  | 2035 |
| **LUXEMBOURG 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **Shurgard Self Storage Ltd.** | 2775 | 105 |
| Total Luxembourg |  | 105 |
| **SINGAPORE 0.1%**  |  |  |
| **FINANCIALS 0.0%**  |  |  |
| **Keppel DC REIT** | 4946 | 1 |
| **REAL ESTATE 0.1%**  |  |  |
| **CapitaLand Ascendas REIT** | 68900 | 149 |
| **CapitaLand Integrated Commercial Trust** | 59780 | 106 |
| **Keppel DC REIT** | 61825 | 114 |
| **Keppel REIT** | 6020 | 5 |
| **Mapletree Industrial Trust** | 51335 | 85 |
|  |  | 459 |
| Total Singapore |  | 460 |
| **SPAIN 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **Inmobiliaria Colonial Socimi SA** | 5864 | 38 |
| Total Spain |  | 38 |
| **UNITED KINGDOM 0.0%**  |  |  |
| **REAL ESTATE 0.0%**  |  |  |
| **Big Yellow Group PLC** | 5017 | 66 |
| **Primary Health Properties PLC** | 30996 | 38 |
|  |  | 104 |
| Total United Kingdom |  | 104 |
| Total Real Estate Investment Trusts (Cost $4,328) |  | 4347 |
| **WARRANTS 0.0%**  |  |  |
| **CANADA 0.0%**  |  |  |
| **INFORMATION TECHNOLOGY 0.0%**  |  |  |
| **Constellation Software, Inc. - Exp. 03/31/2040 «** | 58 | 0 |
| Total Warrants (Cost $0) |  | 0 |
| Total Investments in Securities (Cost $295,925) |  | 375126 |
| Total Investments 99.0% (Cost $295,925) |  | $375126 |
| Other Assets and Liabilities, net 1.0% |  | 3860 |
| Net Assets 100.0% |  | $378986 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Issuer Description | Acquisition<br>Date | Acquisition<br>Date | Cost | Market<br>Value | Market Value<br>as Percentage<br>of Net Assets | Market Value<br>as Percentage<br>of Net Assets |
| Agnico Eagle Mines Ltd. | Agnico Eagle Mines Ltd. | 03/21/2025 - 07/22/2025 | 03/21/2025 - 07/22/2025 | 577 | 892 | 0.24 | % |
| AtkinsRealis Group, Inc. | AtkinsRealis Group, Inc. | 09/19/2025 | 09/19/2025 | 153 | 144 | 0.04 |  |
| Capital Power Corp. | Capital Power Corp. | 09/19/2025 | 09/19/2025 | 52 | 52 | 0.01 |  |
| Constellation Software, Inc. | Constellation Software, Inc. | 03/01/2019 - 09/17/2025 | 03/01/2019 - 09/17/2025 | 208 | 271 | 0.07 |  |
| Definity Financial Corp. | Definity Financial Corp. | 06/20/2025 - 09/17/2025 | 06/20/2025 - 09/17/2025 | 35 | 33 | 0.01 |  |
| Great-West Lifeco, Inc. | Great-West Lifeco, Inc. | 06/20/2025 - 09/17/2025 | 06/20/2025 - 09/17/2025 | 74 | 82 | 0.02 |  |
| Parkland Corp. | Parkland Corp. | 06/20/2025 - 09/17/2025 | 06/20/2025 - 09/17/2025 | 66 | 65 | 0.02 |  |
| Stella-Jones, Inc. | Stella-Jones, Inc. | 06/16/2023 - 09/17/2025 | 06/16/2023 - 09/17/2025 | 46 | 49 | 0.01 |  |
|  |  |  | $ | $ | 0.42%  | 0.42%  | 0.42%  |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |  |
| Australia | Australia | Australia | Australia | Australia | Australia | Australia |  |
|  | Communication Services | 0 | 764 | 0 | 764 | 764 |  |
|  | Consumer Discretionary | 0 | 2096 | 0 | 2096 | 2096 |  |
|  | Consumer Staples | 0 | 1345 | 0 | 1345 | 1345 |  |
|  | Energy | 0 | 749 | 0 | 749 | 749 |  |
|  | Financials | 0 | 2053 | 0 | 2053 | 2053 |  |
|  | Health Care | 0 | 1299 | 0 | 1299 | 1299 |  |
|  | Industrials | 0 | 2118 | 0 | 2118 | 2118 |  |
|  | Materials | 0 | 4821 | 0 | 4821 | 4821 |  |
|  | Real Estate | 0 | 67 | 0 | 67 | 67 |  |
|  | Utilities | 0 | 676 | 0 | 676 | 676 |  |
| Austria | Austria | Austria | Austria | Austria | Austria | Austria |  |
|  | Energy | 0 | 238 | 0 | 238 | 238 |  |
|  | Financials | 0 | 511 | 0 | 511 | 511 |  |
|  | Information Technology | 0 | 39 | 0 | 39 | 39 |  |
|  | Materials | 0 | 211 | 0 | 211 | 211 |  |
|  | Real Estate | 0 | 103 | 0 | 103 | 103 |  |
|  | Utilities | 0 | 70 | 0 | 70 | 70 |  |
| Belgium | Belgium | Belgium | Belgium | Belgium | Belgium | Belgium |  |
|  | Communication Services | 0 | 83 | 0 | 83 | 83 |  |
|  | Consumer Discretionary | 0 | 77 | 0 | 77 | 77 |  |
|  | Consumer Staples | 0 | 132 | 0 | 132 | 132 |  |
|  | Financials | 0 | 343 | 0 | 343 | 343 |  |
|  | Health Care | 0 | 669 | 0 | 669 | 669 |  |
|  | Industrials | 0 | 167 | 0 | 167 | 167 |  |
|  | Materials | 0 | 135 | 0 | 135 | 135 |  |
|  | Utilities | 0 | 135 | 0 | 135 | 135 |  |
| Canada | Canada | Canada | Canada | Canada | Canada | Canada |  |
|  | Communication Services | 1100 | 0 | 0 | 1100 | 1100 |  |
|  | Consumer Discretionary | 2500 | 0 | 0 | 2500 | 2500 |  |
|  | Consumer Staples | 3055 | 0 | 0 | 3055 | 3055 |  |
|  | Energy | 3770 | 0 | 0 | 3770 | 3770 |  |
|  | Financials | 6628 | 0 | 0 | 6628 | 6628 |  |
|  | Health Care | 26 | 0 | 0 | 26 | 26 |  |
|  | Industrials | 2677 | 0 | 0 | 2677 | 2677 |  |
|  | Information Technology | 2276 | 0 | 0 | 2276 | 2276 |  |
|  | Materials | 6202 | 73 | 0 | 6275 | 6275 |  |
|  | Real Estate | 327 | 0 | 0 | 327 | 327 |  |
|  | Utilities | 1633 | 0 | 0 | 1633 | 1633 |  |
| Chile | Chile | Chile | Chile | Chile | Chile | Chile |  |
|  | Materials | 0 | 357 | 0 | 357 | 357 |  |
| Denmark | Denmark | Denmark | Denmark | Denmark | Denmark | Denmark |  |
|  | Consumer Discretionary | 0 | 160 | 0 | 160 | 160 |  |
|  | Consumer Staples | 0 | 497 | 0 | 497 | 497 |  |
|  | Financials | 0 | 711 | 0 | 711 | 711 |  |
|  | Health Care | 124 | 1017 | 0 | 1141 | 1141 |  |
|  | Industrials | 0 | 1858 | 0 | 1858 | 1858 |  |
|  | Materials | 0 | 257 | 0 | 257 | 257 |  |
|  | Utilities | 0 | 75 | 0 | 75 | 75 |  |
| Finland | Finland | Finland | Finland | Finland | Finland | Finland |  |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Communication Services | 0 | 225 | 0 | 225 |
| Consumer Discretionary | 0 | 74 | 0 | 74 |
| Consumer Staples | 0 | 217 | 0 | 217 |
| Energy | 0 | 141 | 0 | 141 |
| Financials | 0 | 1256 | 0 | 1256 |
| Health Care | 0 | 402 | 0 | 402 |
| Industrials | 0 | 997 | 0 | 997 |
| Information Technology | 0 | 150 | 0 | 150 |
| Materials | 0 | 248 | 0 | 248 |
| Real Estate | 74 | 0 | 0 | 74 |
| Utilities | 0 | 573 | 0 | 573 |
| France | France | France | France | France |
| Communication Services | 0 | 3730 | 0 | 3730 |
| Consumer Discretionary | 0 | 2319 | 0 | 2319 |
| Consumer Staples | 0 | 2122 | 0 | 2122 |
| Energy | 0 | 717 | 0 | 717 |
| Financials | 0 | 4403 | 0 | 4403 |
| Health Care | 0 | 2683 | 0 | 2683 |
| Industrials | 0 | 7448 | 0 | 7448 |
| Information Technology | 0 | 129 | 0 | 129 |
| Materials | 0 | 576 | 0 | 576 |
| Utilities | 0 | 1569 | 0 | 1569 |
| Germany | Germany | Germany | Germany | Germany |
| Communication Services | 0 | 1606 | 0 | 1606 |
| Consumer Discretionary | 113 | 3716 | 0 | 3829 |
| Consumer Staples | 0 | 309 | 0 | 309 |
| Financials | 0 | 5527 | 0 | 5527 |
| Health Care | 106 | 1608 | 0 | 1714 |
| Industrials | 0 | 5110 | 0 | 5110 |
| Information Technology | 0 | 2236 | 0 | 2236 |
| Materials | 0 | 2119 | 0 | 2119 |
| Real Estate | 0 | 592 | 0 | 592 |
| Utilities | 0 | 578 | 0 | 578 |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |
| Communication Services | 0 | 369 | 0 | 369 |
| Consumer Discretionary | 55 | 826 | 0 | 881 |
| Consumer Staples | 0 | 393 | 0 | 393 |
| Financials | 343 | 2584 | 0 | 2927 |
| Health Care | 43 | 317 | 0 | 360 |
| Industrials | 288 | 1044 | 0 | 1332 |
| Information Technology | 0 | 323 | 0 | 323 |
| Materials | 0 | 35 | 0 | 35 |
| Real Estate | 420 | 905 | 0 | 1325 |
| Utilities | 55 | 798 | 0 | 853 |
| Ireland | Ireland | Ireland | Ireland | Ireland |
| Consumer Staples | 0 | 479 | 0 | 479 |
| Financials | 0 | 58 | 0 | 58 |
| Health Care | 1616 | 0 | 0 | 1616 |
| Industrials | 1453 | 806 | 0 | 2259 |
| Materials | 0 | 274 | 0 | 274 |
| Israel | Israel | Israel | Israel | Israel |
| Communication Services | 0 | 123 | 0 | 123 |
| Consumer Discretionary | 81 | 69 | 0 | 150 |
| Consumer Staples | 179 | 217 | 0 | 396 |
| Energy | 116 | 91 | 0 | 207 |
| Financials | 0 | 2479 | 0 | 2479 |
| Health Care | 7 | 0 | 0 | 7 |
| Industrials | 300 | 619 | 0 | 919 |
| Information Technology | 662 | 128 | 0 | 790 |
| Materials | 0 | 245 | 0 | 245 |
| Real Estate | 0 | 719 | 0 | 719 |
| Italy | Italy | Italy | Italy | Italy |
| Communication Services | 40 | 1296 | 0 | 1336 |
| Consumer Discretionary | 0 | 467 | 0 | 467 |
| Consumer Staples | 0 | 41 | 0 | 41 |
| Energy | 0 | 1522 | 0 | 1522 |
| Financials | 0 | 7061 | 0 | 7061 |
| Health Care | 0 | 186 | 0 | 186 |
| Industrials | 0 | 2827 | 0 | 2827 |
| Materials | 0 | 247 | 0 | 247 |
| Utilities | 0 | 1300 | 0 | 1300 |
| Japan | Japan | Japan | Japan | Japan |
| Communication Services | 185 | 10152 | 0 | 10337 |
| Consumer Discretionary | 0 | 13859 | 0 | 13859 |
| Consumer Staples | 650 | 7444 | 0 | 8094 |
| Energy | 0 | 2088 | 0 | 2088 |
| Financials | 63 | 8604 | 0 | 8667 |
| Health Care | 0 | 5344 | 0 | 5344 |
| Industrials | 0 | 20523 | 0 | 20523 |
| Information Technology | 0 | 9681 | 0 | 9681 |
| Materials | 0 | 6207 | 0 | 6207 |
| Real Estate | 0 | 733 | 0 | 733 |
| Utilities | 0 | 3845 | 0 | 3845 |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Communication Services | 0 | 268 | 0 | 268 |
| Energy | 0 | 65 | 0 | 65 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Health Care | 0 | 238 | 0 | 238 |
| Materials | 0 | 1327 | 0 | 1327 |
| Real Estate | 0 | 268 | 0 | 268 |
| Mexico | Mexico | Mexico | Mexico | Mexico |
| Materials | 0 | 94 | 0 | 94 |
| Netherlands | Netherlands | Netherlands | Netherlands | Netherlands |
| Communication Services | 0 | 499 | 0 | 499 |
| Consumer Discretionary | 0 | 1215 | 0 | 1215 |
| Consumer Staples | 88 | 2633 | 0 | 2721 |
| Energy | 0 | 322 | 0 | 322 |
| Financials | 0 | 4015 | 0 | 4015 |
| Health Care | 594 | 145 | 0 | 739 |
| Industrials | 0 | 1348 | 0 | 1348 |
| Information Technology | 366 | 1476 | 0 | 1842 |
| Materials | 0 | 1016 | 0 | 1016 |
| New Zealand | New Zealand | New Zealand | New Zealand | New Zealand |
| Communication Services | 64 | 0 | 0 | 64 |
| Consumer Staples | 37 | 0 | 0 | 37 |
| Health Care | 153 | 0 | 0 | 153 |
| Industrials | 0 | 147 | 0 | 147 |
| Information Technology | 0 | 137 | 0 | 137 |
| Utilities | 83 | 96 | 0 | 179 |
| Norway | Norway | Norway | Norway | Norway |
| Communication Services | 0 | 526 | 0 | 526 |
| Consumer Staples | 0 | 731 | 0 | 731 |
| Energy | 37 | 627 | 0 | 664 |
| Financials | 0 | 993 | 0 | 993 |
| Industrials | 41 | 711 | 0 | 752 |
| Information Technology | 183 | 0 | 0 | 183 |
| Materials | 0 | 715 | 0 | 715 |
| Portugal | Portugal | Portugal | Portugal | Portugal |
| Consumer Staples | 0 | 156 | 0 | 156 |
| Energy | 0 | 148 | 0 | 148 |
| Financials | 0 | 162 | 0 | 162 |
| Utilities | 0 | 730 | 0 | 730 |
| Singapore | Singapore | Singapore | Singapore | Singapore |
| Communication Services | 180 | 965 | 0 | 1145 |
| Consumer Discretionary | 1042 | 0 | 0 | 1042 |
| Consumer Staples | 0 | 378 | 0 | 378 |
| Energy | 0 | 64 | 0 | 64 |
| Financials | 0 | 3678 | 0 | 3678 |
| Industrials | 127 | 1270 | 0 | 1397 |
| Information Technology | 0 | 120 | 0 | 120 |
| Utilities | 0 | 109 | 0 | 109 |
| South Africa | South Africa | South Africa | South Africa | South Africa |
| Financials | 49 | 0 | 0 | 49 |
| Spain | Spain | Spain | Spain | Spain |
| Communication Services | 0 | 1583 | 0 | 1583 |
| Consumer Discretionary | 0 | 530 | 0 | 530 |
| Consumer Staples | 0 | 156 | 0 | 156 |
| Energy | 0 | 1236 | 0 | 1236 |
| Financials | 0 | 7407 | 0 | 7407 |
| Health Care | 0 | 439 | 0 | 439 |
| Industrials | 0 | 1130 | 0 | 1130 |
| Materials | 0 | 139 | 0 | 139 |
| Utilities | 875 | 2780 | 0 | 3655 |
| Sweden | Sweden | Sweden | Sweden | Sweden |
| Communication Services | 629 | 1362 | 0 | 1991 |
| Consumer Discretionary | 188 | 411 | 0 | 599 |
| Consumer Staples | 0 | 687 | 0 | 687 |
| Financials | 0 | 1027 | 0 | 1027 |
| Health Care | 0 | 208 | 0 | 208 |
| Industrials | 0 | 2575 | 0 | 2575 |
| Information Technology | 0 | 1281 | 0 | 1281 |
| Materials | 0 | 359 | 0 | 359 |
| Real Estate | 0 | 32 | 0 | 32 |
| Switzerland | Switzerland | Switzerland | Switzerland | Switzerland |
| Communication Services | 0 | 549 | 0 | 549 |
| Consumer Discretionary | 586 | 337 | 0 | 923 |
| Consumer Staples | 0 | 2890 | 0 | 2890 |
| Financials | 0 | 7782 | 0 | 7782 |
| Health Care | 80 | 5951 | 0 | 6031 |
| Industrials | 0 | 4424 | 0 | 4424 |
| Information Technology | 0 | 283 | 0 | 283 |
| Materials | 0 | 1432 | 0 | 1432 |
| Real Estate | 0 | 1085 | 0 | 1085 |
| Utilities | 0 | 171 | 0 | 171 |
| Taiwan | Taiwan | Taiwan | Taiwan | Taiwan |
| Information Technology | 0 | 50 | 0 | 50 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Communication Services | 0 | 2405 | 0 | 2405 |
| Consumer Discretionary | 103 | 3372 | 0 | 3475 |
| Consumer Staples | 385 | 13898 | 0 | 14283 |
| Energy | 0 | 1997 | 0 | 1997 |
| Financials | 0 | 11984 | 0 | 11984 |
| Health Care | 0 | 4271 | 0 | 4271 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor International Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Industrials | 382 | 8119 | 0 | 8501 |
| Information Technology | 0 | 704 | 0 | 704 |
| Materials | 666 | 3013 | 0 | 3679 |
| Utilities | 0 | 2722 | 0 | 2722 |
| United States | United States | United States | United States | United States |
| Consumer Discretionary | 0 | 269 | 0 | 269 |
| Energy | 68 | 0 | 0 | 68 |
| Financials | 390 | 0 | 0 | 390 |
| Industrials | 698 | 0 | 0 | 698 |
| Materials | 249 | 0 | 0 | 249 |
| Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks | Preferred Stocks |
| Germany | Germany | Germany | Germany | Germany |
| Industrials | 0 | 2213 | 0 | 2213 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Australia | Australia | Australia | Australia | Australia |
| Real Estate | 0 | 446 | 0 | 446 |
| Belgium | Belgium | Belgium | Belgium | Belgium |
| Real Estate | 0 | 362 | 0 | 362 |
| Canada | Canada | Canada | Canada | Canada |
| Real Estate | 80 | 0 | 0 | 80 |
| France | France | France | France | France |
| Real Estate | 0 | 253 | 0 | 253 |
| Hong Kong | Hong Kong | Hong Kong | Hong Kong | Hong Kong |
| Real Estate | 0 | 464 | 0 | 464 |
| Japan | Japan | Japan | Japan | Japan |
| Real Estate | 290 | 1745 | 0 | 2035 |
| Luxembourg | Luxembourg | Luxembourg | Luxembourg | Luxembourg |
| Real Estate | 0 | 105 | 0 | 105 |
| Singapore | Singapore | Singapore | Singapore | Singapore |
| Financials | 0 | 1 | 0 | 1 |
| Real Estate | 0 | 459 | 0 | 459 |
| Spain | Spain | Spain | Spain | Spain |
| Real Estate | 0 | 38 | 0 | 38 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
| Real Estate | 0 | 104 | 0 | 104 |
| Total Investments | $45880 | $329246 | $0 | $375126 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 100.0% ¤** |  |  |
| **COMMON STOCKS 98.2%**  |  |  |
| **IRELAND 0.3%**  |  |  |
| **HEALTH CARE 0.0%**  |  |  |
| **Jazz Pharmaceuticals PLC (a)** | 661 | $87 |
| **INFORMATION TECHNOLOGY 0.3%**  |  |  |
| **Accenture PLC Class A** | 1762 | 434 |
| **TE Connectivity PLC** | 613 | 135 |
|  |  | 569 |
| Total Ireland |  | 656 |
| **SWITZERLAND 0.0%**  |  |  |
| **MATERIALS 0.0%**  |  |  |
| **Amcor PLC** | 8820 | 72 |
| Total Switzerland |  | 72 |
| **UNITED KINGDOM 0.7%**  |  |  |
| **COMMUNICATION SERVICES 0.0%**  |  |  |
| **Liberty Global Ltd. Class C (a)** | 7538 | 89 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Nomad Foods Ltd.** | 51 | 1 |
| **ENERGY 0.1%**  |  |  |
| **TechnipFMC PLC** | 4854 | 191 |
| **FINANCIALS 0.5%**  |  |  |
| **Aon PLC Class A** | 1853 | 661 |
| **Janus Henderson Group PLC** | 2407 | 107 |
| **Willis Towers Watson PLC** | 686 | 237 |
|  |  | 1005 |
| **INDUSTRIALS 0.1%**  |  |  |
| **nVent Electric PLC** | 457 | 45 |
| **Pentair PLC** | 996 | 110 |
|  |  | 155 |
| Total United Kingdom |  | 1441 |
| **UNITED STATES 97.2%**  |  |  |
| **COMMUNICATION SERVICES 7.4%**  |  |  |
| **Altice USA, Inc. Class A (a)** | 8416 | 20 |
| **Array Digital Infrastructure, Inc.** | 369 | 19 |
| **AT&T, Inc.** | 77490 | 2188 |
| **Charter Communications, Inc. Class A (a)** | 3595 | 989 |
| **Comcast Corp. Class A** | 16817 | 528 |
| **EchoStar Corp. Class A (a)** | 1204 | 92 |
| **Electronic Arts, Inc.** | 2149 | 433 |
| **Fox Corp. Class A** | 6272 | 396 |
| **GCI Liberty, Inc. «(a)** | 221 | 0 |
| **Iridium Communications, Inc.** | 720 | 13 |
| **John Wiley & Sons, Inc. Class A** | 789 | 32 |
| **Liberty Broadband Corp. Class C** | 1527 | 97 |
| **Liberty Latin America Ltd. Class C (a)** | 2575 | 22 |
| **Liberty Media Corp.-Liberty Formula One Class C (a)** | 903 | 94 |
| **Lumen Technologies, Inc. (a)** | 22948 | 140 |
| **Match Group, Inc.** | 960 | 34 |
| **Meta Platforms, Inc. Class A** | 4646 | 3412 |
| **Netflix, Inc. (a)** | 1354 | 1623 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New** **York Times Co. Class A** | 571 | 33 |
| **News Corp. Class A** | 1589 | 49 |
| **Nexstar Media Group, Inc.** | 655 | 130 |
| **Omnicom Group, Inc.** | 1173 | 96 |
| **ROBLOX Corp. Class A (a)** | 2273 | 315 |
| **Roku, Inc. (a)** | 580 | 58 |
| **Sirius XM Holdings, Inc.** | 1920 | 45 |
| **T-Mobile U.S., Inc.** | 3723 | 891 |
| **Take-Two Interactive Software, Inc. (a)** | 1596 | 412 |
| **TEGNA, Inc.** | 1680 | 34 |
| **Telephone & Data Systems, Inc.** | 1865 | 73 |
| **TKO Group Holdings, Inc.** | 337 | 68 |
| **Verizon Communications, Inc.** | 43550 | 1914 |
| **Walt Disney Co.** | 4361 | 499 |
| **Warner Bros Discovery, Inc. (a)** | 30911 | 604 |
| **Yelp, Inc. (a)** | 650 | 20 |
|  |  | 15373 |
| **CONSUMER DISCRETIONARY 12.1%**  |  |  |
| **Abercrombie & Fitch Co. Class A (a)** | 1423 | 122 |
| **Academy Sports & Outdoors, Inc.** | 1084 | 54 |
| **Acushnet Holdings Corp.** | 534 | 42 |
| **Adient PLC (a)** | 2088 | 50 |
| **Adtalem Global Education, Inc. (a)** | 775 | 120 |
| **Advance Auto Parts, Inc.** | 729 | 45 |
| **American Eagle Outfitters, Inc.** | 6241 | 107 |
| **Asbury Automotive Group, Inc. (a)** | 388 | 95 |
| **AutoNation, Inc. (a)** | 942 | 206 |
| **AutoZone, Inc. (a)** | 161 | 691 |
| **Bath & Body Works, Inc.** | 1003 | 26 |
| **Best Buy Co., Inc.** | 5622 | 425 |
| **Booking Holdings, Inc.** | 256 | 1382 |
| **BorgWarner, Inc.** | 2887 | 127 |
| **Boyd Gaming Corp.** | 533 | 46 |
| **Bright Horizons Family Solutions, Inc. (a)** | 238 | 26 |
| **Brightstar Lottery PLC** | 1105 | 19 |
| **Brunswick Corp.** | 1725 | 109 |
| **Buckle, Inc.** | 697 | 41 |
| **Carnival Corp. (a)** | 6905 | 200 |
| **Carter's, Inc.** | 2321 | 65 |
| **Choice Hotels International, Inc.** | 188 | 20 |
| **Coupang, Inc. (a)** | 3632 | 117 |
| **Cracker Barrel Old Country Store, Inc.** | 720 | 32 |
| **Dana, Inc.** | 4149 | 83 |
| **Darden Restaurants, Inc.** | 748 | 142 |
| **Deckers Outdoor Corp. (a)** | 1036 | 105 |
| **Dick's Sporting Goods, Inc.** | 647 | 144 |
| **Dillard's, Inc. Class A** | 154 | 95 |
| **Domino's Pizza, Inc.** | 437 | 189 |
| **DoorDash, Inc. Class A (a)** | 1306 | 355 |
| **Dorman Products, Inc. (a)** | 398 | 62 |
| **eBay, Inc.** | 12250 | 1114 |
| **Expedia Group, Inc.** | 624 | 133 |
| **Five Below, Inc. (a)** | 185 | 29 |
| **Flutter Entertainment PLC (a)** | 387 | 98 |
| **Ford Motor Co.** | 72454 | 867 |
| **G-III Apparel Group Ltd. (a)** | 769 | 20 |
| **Gap, Inc.** | 2953 | 63 |
| **General Motors Co.** | 21227 | 1294 |
| **Gentex Corp.** | 4109 | 116 |
| **Genuine Parts Co.** | 150 | 21 |
| **Goodyear Tire & Rubber Co. (a)** | 6456 | 48 |
| **Graham Holdings Co. Class B** | 65 | 77 |
| **Grand Canyon Education, Inc. (a)** | 423 | 93 |
| **Group 1 Automotive, Inc.** | 331 | 145 |
| **H&R Block, Inc.** | 1042 | 53 |
| **Hanesbrands, Inc. (a)** | 9768 | 64 |
| **Harley-Davidson, Inc.** | 1657 | 46 |
| **Hasbro, Inc.** | 1644 | 125 |
| **Hilton Worldwide Holdings, Inc.** | 496 | 129 |
| **Home Depot, Inc.** | 5146 | 2085 |
| **KB Home** | 348 | 22 |
| **Kohl's Corp.** | 5886 | 90 |
| **Kontoor Brands, Inc.** | 758 | 60 |
| **La-Z-Boy, Inc.** | 959 | 33 |
| **Las Vegas Sands Corp.** | 711 | 38 |
| **Laureate Education, Inc. (a)** | 1084 | 34 |
| **Lear Corp.** | 489 | 49 |
| **Leggett & Platt, Inc.** | 3991 | 35 |
| **Light & Wonder, Inc. (a)** | 244 | 20 |
| **Lithia Motors, Inc.** | 126 | 40 |
| **Lowe's Cos., Inc.** | 4130 | 1038 |
| **M/I Homes, Inc. (a)** | 411 | 59 |
| **Macy's, Inc.** | 6166 | 111 |
| **Marriott International, Inc. Class A** | 785 | 204 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **McDonald's** **Corp.** | 5485 | 1667 |
| **Meritage Homes Corp.** | 1034 | 75 |
| **Mohawk Industries, Inc. (a)** | 218 | 28 |
| **Murphy USA, Inc.** | 473 | 184 |
| **Newell Brands, Inc.** | 1478 | 8 |
| **NIKE, Inc. Class B** | 2996 | 209 |
| **NVR, Inc. (a)** | 17 | 137 |
| **O'Reilly Automotive, Inc. (a)** | 6743 | 727 |
| **Ollie's Bargain Outlet Holdings, Inc. (a)** | 589 | 76 |
| **Penske Automotive Group, Inc.** | 361 | 63 |
| **Phinia, Inc.** | 816 | 47 |
| **Pool Corp.** | 489 | 152 |
| **PulteGroup, Inc.** | 1009 | 133 |
| **PVH Corp.** | 833 | 70 |
| **Ralph Lauren Corp.** | 444 | 139 |
| **Red Rock Resorts, Inc. Class A** | 342 | 21 |
| **RH (a)** | 103 | 21 |
| **Rivian Automotive, Inc. Class A (a)** | 1535 | 23 |
| **Royal Caribbean Cruises Ltd.** | 932 | 302 |
| **Sally Beauty Holdings, Inc. (a)** | 3314 | 54 |
| **Service Corp. International** | 1594 | 133 |
| **Signet Jewelers Ltd.** | 926 | 89 |
| **Somnigroup International, Inc.** | 2244 | 189 |
| **Sonic Automotive, Inc. Class A** | 604 | 46 |
| **Starbucks Corp.** | 5480 | 464 |
| **Steven Madden Ltd.** | 1474 | 49 |
| **Strategic Education, Inc.** | 323 | 28 |
| **Stride, Inc. (a)** | 178 | 27 |
| **Tapestry, Inc.** | 2043 | 231 |
| **Taylor Morrison Home Corp. (a)** | 2078 | 137 |
| **Tesla, Inc. (a)** | 6977 | 3103 |
| **Texas Roadhouse, Inc.** | 236 | 39 |
| **Thor Industries, Inc.** | 229 | 24 |
| **TJX Cos., Inc.** | 5254 | 759 |
| **Toll Brothers, Inc.** | 603 | 83 |
| **Tractor Supply Co.** | 2962 | 168 |
| **Tri Pointe Homes, Inc. (a)** | 1940 | 66 |
| **Ulta Beauty, Inc. (a)** | 357 | 195 |
| **Upbound Group, Inc.** | 761 | 18 |
| **Urban Outfitters, Inc. (a)** | 1859 | 133 |
| **Vail Resorts, Inc.** | 689 | 103 |
| **Valvoline, Inc. (a)** | 2137 | 77 |
| **VF Corp.** | 6889 | 99 |
| **Victoria's Secret & Co. (a)** | 2702 | 73 |
| **Visteon Corp.** | 536 | 64 |
| **Wayfair, Inc. Class A (a)** | 324 | 29 |
| **Wendy's Co.** | 5792 | 53 |
| **Whirlpool Corp.** | 1119 | 88 |
| **Williams-Sonoma, Inc.** | 1967 | 384 |
| **Winnebago Industries, Inc.** | 410 | 14 |
| **Wyndham Hotels & Resorts, Inc.** | 980 | 78 |
| **Wynn Resorts Ltd.** | 251 | 32 |
| **Yum! Brands, Inc.** | 2419 | 368 |
|  |  | 25374 |
| **CONSUMER STAPLES 10.5%**  |  |  |
| **Albertsons Cos., Inc. Class A** | 6309 | 110 |
| **Altria Group, Inc.** | 19717 | 1302 |
| **Andersons, Inc.** | 928 | 37 |
| **Archer-Daniels-Midland Co.** | 7403 | 442 |
| **BJ's Wholesale Club Holdings, Inc. (a)** | 1099 | 102 |
| **Boston Beer Co., Inc. Class A (a)** | 170 | 36 |
| **Brown-Forman Corp. Class B** | 2355 | 64 |
| **Bunge Global SA** | 1648 | 134 |
| **Cal-Maine Foods, Inc.** | 1419 | 133 |
| **Campbell's Co.** | 1150 | 36 |
| **Casey's General Stores, Inc.** | 560 | 317 |
| **Central Garden & Pet Co. Class A (a)** | 836 | 25 |
| **Church & Dwight Co., Inc.** | 1357 | 119 |
| **Clorox Co.** | 1502 | 185 |
| **Coca-Cola Co.** | 19236 | 1276 |
| **Coca-Cola Consolidated, Inc.** | 340 | 40 |
| **Colgate-Palmolive Co.** | 4825 | 386 |
| **Conagra Brands, Inc.** | 3828 | 70 |
| **Constellation Brands, Inc. Class A** | 653 | 88 |
| **Costco Wholesale Corp.** | 1442 | 1335 |
| **Dollar General Corp.** | 2751 | 284 |
| **Dollar Tree, Inc. (a)** | 1683 | 159 |
| **Edgewell Personal Care Co.** | 1411 | 29 |
| **Energizer Holdings, Inc.** | 699 | 17 |
| **Flowers Foods, Inc.** | 1207 | 16 |
| **Fresh Del Monte Produce, Inc.** | 760 | 26 |
| **General Mills, Inc.** | 4634 | 234 |
| **Hershey Co.** | 821 | 154 |
| **Hormel Foods Corp.** | 1624 | 40 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Ingredion** **, Inc.** | 748 | 91 |
| **J.M. Smucker Co.** | 1314 | 143 |
| **Kellanova** | 2668 | 219 |
| **Kenvue, Inc.** | 2313 | 37 |
| **Keurig Dr. Pepper, Inc.** | 6391 | 163 |
| **Kimberly-Clark Corp.** | 2574 | 320 |
| **Kraft Heinz Co.** | 16423 | 428 |
| **Kroger Co.** | 15177 | 1023 |
| **Lamb Weston Holdings, Inc.** | 606 | 35 |
| **Maplebear, Inc. (a)** | 558 | 20 |
| **Marzetti Co.** | 265 | 46 |
| **McCormick & Co., Inc.** | 1 | 0 |
| **Molson Coors Beverage Co. Class B** | 3650 | 165 |
| **Mondelez International, Inc. Class A** | 7901 | 494 |
| **Monster Beverage Corp. (a)** | 4443 | 299 |
| **PepsiCo, Inc.** | 10151 | 1426 |
| **Performance Food Group Co. (a)** | 272 | 28 |
| **Philip Morris International, Inc.** | 13087 | 2123 |
| **Pilgrim's Pride Corp.** | 540 | 22 |
| **Post Holdings, Inc. (a)** | 480 | 52 |
| **PriceSmart, Inc.** | 405 | 49 |
| **Procter & Gamble Co.** | 12554 | 1929 |
| **Seaboard Corp.** | 13 | 47 |
| **Spectrum Brands Holdings, Inc.** | 817 | 43 |
| **Sprouts Farmers Market, Inc. (a)** | 2509 | 273 |
| **Sysco Corp.** | 2106 | 173 |
| **Target Corp.** | 8882 | 797 |
| **TreeHouse Foods, Inc. (a)** | 1547 | 31 |
| **Tyson Foods, Inc. Class A** | 6010 | 326 |
| **U.S. Foods Holding Corp. (a)** | 2270 | 174 |
| **United Natural Foods, Inc. (a)** | 1531 | 58 |
| **Universal Corp.** | 351 | 20 |
| **Walmart, Inc.** | 36588 | 3771 |
|  |  | 22021 |
| **ENERGY 4.7%**  |  |  |
| **Antero Midstream Corp.** | 1245 | 24 |
| **Archrock, Inc.** | 2879 | 76 |
| **Baker Hughes Co.** | 8520 | 415 |
| **Cheniere Energy, Inc.** | 969 | 228 |
| **Chevron Corp.** | 13092 | 2033 |
| **CNX Resources Corp. (a)** | 3791 | 122 |
| **ConocoPhillips** | 2305 | 218 |
| **Core Natural Resources, Inc.** | 274 | 23 |
| **CVR Energy, Inc.** | 1303 | 48 |
| **Delek U.S. Holdings, Inc.** | 2625 | 85 |
| **DT Midstream, Inc.** | 941 | 106 |
| **EQT Corp.** | 1506 | 82 |
| **Expand Energy Corp.** | 1021 | 108 |
| **Exxon Mobil Corp.** | 17731 | 1999 |
| **Helmerich & Payne, Inc.** | 1318 | 29 |
| **HF Sinclair Corp.** | 2355 | 123 |
| **Kinder Morgan, Inc.** | 7752 | 219 |
| **Marathon Petroleum Corp.** | 5336 | 1028 |
| **Murphy Oil Corp.** | 2522 | 72 |
| **Ovintiv, Inc.** | 2148 | 87 |
| **Patterson-UTI Energy, Inc.** | 4496 | 23 |
| **PBF Energy, Inc. Class A** | 2658 | 80 |
| **Peabody Energy Corp.** | 4077 | 108 |
| **Permian Resources Corp.** | 1565 | 20 |
| **Phillips 66** | 6091 | 829 |
| **Schlumberger NV** | 2197 | 76 |
| **SM Energy Co.** | 1179 | 29 |
| **Targa Resources Corp.** | 1551 | 260 |
| **Valero Energy Corp.** | 6102 | 1039 |
| **Williams Cos., Inc.** | 2916 | 185 |
| **World Kinect Corp.** | 1414 | 37 |
|  |  | 9811 |
| **FINANCIALS 16.3%**  |  |  |
| **Affiliated Managers Group, Inc.** | 472 | 113 |
| **Aflac, Inc.** | 3424 | 382 |
| **Allstate Corp.** | 2310 | 496 |
| **Ally Financial, Inc.** | 4153 | 163 |
| **American Express Co.** | 1169 | 388 |
| **American International Group, Inc.** | 7614 | 598 |
| **Ameriprise Financial, Inc.** | 611 | 300 |
| **ARES Management Corp. Class A** | 1173 | 188 |
| **Arthur J Gallagher & Co.** | 521 | 161 |
| **Artisan Partners Asset Management, Inc. Class A** | 985 | 43 |
| **Assurant, Inc.** | 540 | 117 |
| **Bank of New York Mellon Corp.** | 6580 | 717 |
| **Bank OZK** | 397 | 20 |
| **BankUnited, Inc.** | 1249 | 48 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Berkshire** **Hathaway, Inc. Class B (a)** | 5100 | 2564 |
| **Blackrock, Inc.** | 335 | 391 |
| **Blackstone, Inc.** | 3033 | 518 |
| **Bread Financial Holdings, Inc.** | 1309 | 73 |
| **Brighthouse Financial, Inc. (a)** | 1404 | 74 |
| **Brown & Brown, Inc.** | 1043 | 98 |
| **Cadence Bank** | 929 | 35 |
| **Capital One Financial Corp.** | 6174 | 1312 |
| **Carlyle Group, Inc.** | 510 | 32 |
| **Charles Schwab Corp.** | 5750 | 549 |
| **Cincinnati Financial Corp.** | 375 | 59 |
| **Citigroup, Inc.** | 27974 | 2839 |
| **Citizens Financial Group, Inc.** | 2078 | 110 |
| **CME Group, Inc.** | 2080 | 562 |
| **CNO Financial Group, Inc.** | 1196 | 47 |
| **Coinbase Global, Inc. Class A (a)** | 770 | 260 |
| **Comerica, Inc.** | 1203 | 82 |
| **Corebridge Financial, Inc.** | 3075 | 99 |
| **Corpay, Inc. (a)** | 163 | 47 |
| **Credit Acceptance Corp. (a)** | 43 | 20 |
| **Cullen/Frost Bankers, Inc.** | 215 | 27 |
| **DigitalBridge Group, Inc.** | 4158 | 49 |
| **East West Bancorp, Inc.** | 518 | 55 |
| **Encore Capital Group, Inc. (a)** | 547 | 23 |
| **Equitable Holdings, Inc.** | 4051 | 206 |
| **Erie Indemnity Co. Class A** | 272 | 87 |
| **Evercore, Inc. Class A** | 604 | 204 |
| **FactSet Research Systems, Inc.** | 113 | 32 |
| **Federated Hermes, Inc.** | 1197 | 62 |
| **First American Financial Corp.** | 564 | 36 |
| **First Horizon Corp.** | 1768 | 40 |
| **FirstCash Holdings, Inc.** | 378 | 60 |
| **Flagstar Financial, Inc.** | 5355 | 62 |
| **Franklin Resources, Inc.** | 3536 | 82 |
| **Genworth Financial, Inc. (a)** | 12795 | 114 |
| **Globe Life, Inc.** | 236 | 34 |
| **Goldman Sachs Group, Inc.** | 1582 | 1260 |
| **Hanover Insurance Group, Inc.** | 485 | 88 |
| **Hartford Insurance Group, Inc.** | 415 | 55 |
| **Hilltop Holdings, Inc.** | 740 | 25 |
| **Houlihan Lokey, Inc.** | 686 | 141 |
| **Huntington Bancshares, Inc.** | 3368 | 58 |
| **Interactive Brokers Group, Inc. Class A** | 2264 | 156 |
| **Intercontinental Exchange, Inc.** | 3490 | 588 |
| **Invesco Ltd.** | 4768 | 109 |
| **Jack Henry & Associates, Inc.** | 877 | 131 |
| **Jackson Financial, Inc. Class A** | 1103 | 112 |
| **Jefferies Financial Group, Inc.** | 1252 | 82 |
| **JPMorgan Chase & Co.** | 6709 | 2116 |
| **Kemper Corp.** | 415 | 21 |
| **KeyCorp** | 3476 | 65 |
| **Lincoln National Corp.** | 2730 | 110 |
| **Loews Corp.** | 1150 | 115 |
| **LPL Financial Holdings, Inc.** | 767 | 255 |
| **M&T Bank Corp.** | 448 | 88 |
| **Markel Group, Inc. (a)** | 26 | 50 |
| **MarketAxess Holdings, Inc.** | 317 | 55 |
| **Marsh & McLennan Cos., Inc.** | 1878 | 378 |
| **Mastercard, Inc. Class A** | 2790 | 1587 |
| **Mercury General Corp.** | 743 | 63 |
| **MetLife, Inc.** | 4773 | 393 |
| **MGIC Investment Corp.** | 718 | 20 |
| **Moelis & Co. Class A** | 823 | 59 |
| **Moody's Corp.** | 146 | 70 |
| **Morgan Stanley** | 3048 | 484 |
| **Morningstar, Inc.** | 252 | 58 |
| **Mr. Cooper Group, Inc.** | 970 | 204 |
| **MSCI, Inc.** | 201 | 114 |
| **Nasdaq, Inc.** | 1568 | 139 |
| **Navient Corp.** | 1565 | 21 |
| **NCR Atleos Corp. (a)** | 556 | 22 |
| **Nelnet, Inc. Class A** | 165 | 21 |
| **Northern Trust Corp.** | 455 | 61 |
| **Old National Bancorp** | 1369 | 30 |
| **OneMain Holdings, Inc.** | 1318 | 74 |
| **PennyMac Financial Services, Inc.** | 498 | 62 |
| **Piper Sandler Cos.** | 59 | 20 |
| **PROG Holdings, Inc.** | 770 | 25 |
| **Progressive Corp.** | 2922 | 722 |
| **Prudential Financial, Inc.** | 3769 | 391 |
| **Raymond James Financial, Inc.** | 426 | 73 |
| **Regions Financial Corp.** | 1623 | 43 |
| **RLI Corp.** | 381 | 25 |
| **Robinhood Markets, Inc. Class A (a)** | 2861 | 410 |
| **S&P Global, Inc.** | 879 | 428 |
| **SEI Investments Co.** | 1616 | 137 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Selective** **Insurance Group, Inc.** | 287 | 23 |
| **SLM Corp.** | 4636 | 128 |
| **SoFi Technologies, Inc. (a)** | 4644 | 123 |
| **State Street Corp.** | 691 | 80 |
| **Stewart Information Services Corp.** | 594 | 44 |
| **Stifel Financial Corp.** | 358 | 41 |
| **Synchrony Financial** | 8397 | 597 |
| **T. Rowe Price Group, Inc.** | 1856 | 190 |
| **Toast, Inc. Class A (a)** | 1528 | 56 |
| **TPG, Inc.** | 326 | 19 |
| **Tradeweb Markets, Inc. Class A** | 790 | 88 |
| **Travelers Cos., Inc.** | 2033 | 568 |
| **Unum Group** | 2614 | 203 |
| **Virtu Financial, Inc. Class A** | 1815 | 64 |
| **Visa, Inc. Class A** | 6158 | 2102 |
| **W.R. Berkley Corp.** | 339 | 26 |
| **Webster Financial Corp.** | 702 | 42 |
| **Wells Fargo & Co.** | 34108 | 2859 |
| **Western Union Co.** | 14100 | 113 |
| **White Mountains Insurance Group Ltd.** | 50 | 84 |
| **Wintrust Financial Corp.** | 273 | 36 |
| **Zions Bancorp NA** | 740 | 42 |
|  |  | 34020 |
| **HEALTH CARE 12.6%**  |  |  |
| **Abbott Laboratories** | 4104 | 550 |
| **AbbVie, Inc.** | 10532 | 2439 |
| **Alnylam Pharmaceuticals, Inc. (a)** | 620 | 283 |
| **Amgen, Inc.** | 4058 | 1145 |
| **Baxter International, Inc.** | 3993 | 91 |
| **Becton Dickinson & Co.** | 1276 | 239 |
| **Biogen, Inc. (a)** | 256 | 36 |
| **BioMarin Pharmaceutical, Inc. (a)** | 534 | 29 |
| **Boston Scientific Corp. (a)** | 4647 | 454 |
| **Bristol-Myers Squibb Co.** | 30431 | 1372 |
| **Cardinal Health, Inc.** | 4099 | 643 |
| **Cencora, Inc.** | 1183 | 370 |
| **Centene Corp. (a)** | 1524 | 54 |
| **Chemed Corp.** | 265 | 119 |
| **Cigna Group** | 1882 | 542 |
| **Cooper Cos., Inc. (a)** | 1214 | 83 |
| **Corcept Therapeutics, Inc. (a)** | 696 | 58 |
| **CVS Health Corp.** | 18450 | 1391 |
| **DaVita, Inc. (a)** | 1717 | 228 |
| **Dentsply Sirona, Inc.** | 2643 | 34 |
| **Elevance Health, Inc.** | 237 | 77 |
| **Eli Lilly & Co.** | 1515 | 1156 |
| **Encompass Health Corp.** | 1404 | 178 |
| **Exelixis, Inc. (a)** | 4410 | 182 |
| **GE HealthCare Technologies, Inc.** | 1224 | 92 |
| **Gilead Sciences, Inc.** | 17508 | 1943 |
| **Globus Medical, Inc. Class A (a)** | 792 | 45 |
| **Haemonetics Corp. (a)** | 323 | 16 |
| **Halozyme Therapeutics, Inc. (a)** | 514 | 38 |
| **HCA Healthcare, Inc.** | 749 | 319 |
| **Henry Schein, Inc. (a)** | 1243 | 83 |
| **Hologic, Inc. (a)** | 1210 | 82 |
| **ICU Medical, Inc. (a)** | 202 | 24 |
| **IDEXX Laboratories, Inc. (a)** | 431 | 275 |
| **Incyte Corp. (a)** | 1117 | 95 |
| **Johnson & Johnson** | 19027 | 3528 |
| **Labcorp Holdings, Inc.** | 433 | 124 |
| **Masimo Corp. (a)** | 527 | 78 |
| **McKesson Corp.** | 1111 | 858 |
| **Merck & Co., Inc.** | 19314 | 1621 |
| **Mettler-Toledo International, Inc. (a)** | 128 | 157 |
| **Neurocrine Biosciences, Inc. (a)** | 362 | 51 |
| **Organon & Co.** | 8715 | 93 |
| **Pfizer, Inc.** | 78108 | 1990 |
| **Premier, Inc. Class A** | 2075 | 58 |
| **Quest Diagnostics, Inc.** | 1148 | 219 |
| **Regeneron Pharmaceuticals, Inc.** | 678 | 381 |
| **ResMed, Inc.** | 632 | 173 |
| **Revvity, Inc.** | 606 | 53 |
| **Royalty Pharma PLC Class A** | 4118 | 145 |
| **Select Medical Holdings Corp.** | 2450 | 31 |
| **Stryker Corp.** | 766 | 283 |
| **Teladoc Health, Inc. (a)** | 2541 | 20 |
| **Teleflex, Inc.** | 323 | 40 |
| **Tenet Healthcare Corp. (a)** | 1880 | 382 |
| **United Therapeutics Corp. (a)** | 738 | 309 |
| **Universal Health Services, Inc. Class B** | 538 | 110 |
| **Veeva Systems, Inc. Class A (a)** | 563 | 168 |
| **Vertex Pharmaceuticals, Inc. (a)** | 518 | 203 |
| **Viatris, Inc.** | 26202 | 259 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Waters** **Corp. (a)** | 48 | 14 |
| **West Pharmaceutical Services, Inc.** | 218 | 57 |
| **Zimmer Biomet Holdings, Inc.** | 208 | 20 |
| **Zoetis, Inc.** | 729 | 107 |
|  |  | 26297 |
| **INDUSTRIALS 12.0%**  |  |  |
| **3M Co.** | 8744 | 1357 |
| **A.O. Smith Corp.** | 2407 | 177 |
| **AAR Corp. (a)** | 555 | 50 |
| **ABM Industries, Inc.** | 759 | 35 |
| **Acuity, Inc.** | 388 | 134 |
| **Advanced Drainage Systems, Inc.** | 375 | 52 |
| **AECOM** | 817 | 107 |
| **AGCO Corp.** | 552 | 59 |
| **Alaska Air Group, Inc. (a)** | 361 | 18 |
| **Allison Transmission Holdings, Inc.** | 1635 | 139 |
| **API Group Corp. (a)** | 888 | 31 |
| **Applied Industrial Technologies, Inc.** | 251 | 66 |
| **Arcosa, Inc.** | 631 | 59 |
| **Armstrong World Industries, Inc.** | 597 | 117 |
| **ATI, Inc. (a)** | 605 | 49 |
| **Automatic Data Processing, Inc.** | 1711 | 502 |
| **Avis Budget Group, Inc. (a)** | 361 | 58 |
| **Axon Enterprise, Inc. (a)** | 289 | 207 |
| **Boeing Co. (a)** | 1816 | 392 |
| **Boise Cascade Co.** | 717 | 55 |
| **Booz Allen Hamilton Holding Corp.** | 1716 | 172 |
| **Brady Corp. Class A** | 386 | 30 |
| **Brink's Co.** | 181 | 21 |
| **Broadridge Financial Solutions, Inc.** | 919 | 219 |
| **Builders FirstSource, Inc. (a)** | 721 | 87 |
| **BWX Technologies, Inc.** | 1522 | 281 |
| **CACI International, Inc. Class A (a)** | 387 | 193 |
| **Carlisle Cos., Inc.** | 55 | 18 |
| **Carpenter Technology Corp.** | 1257 | 309 |
| **Carrier Global Corp.** | 848 | 51 |
| **Caterpillar, Inc.** | 941 | 449 |
| **CH Robinson Worldwide, Inc.** | 2420 | 320 |
| **Chart Industries, Inc. (a)** | 161 | 32 |
| **Cintas Corp.** | 1498 | 307 |
| **Comfort Systems USA, Inc.** | 147 | 121 |
| **Copart, Inc. (a)** | 2857 | 128 |
| **Core & Main, Inc. Class A (a)** | 1025 | 55 |
| **CoreCivic, Inc. (a)** | 2035 | 41 |
| **Crane Co.** | 367 | 68 |
| **CSG Systems International, Inc.** | 644 | 41 |
| **CSX Corp.** | 8226 | 292 |
| **Cummins, Inc.** | 643 | 272 |
| **Curtiss-Wright Corp.** | 559 | 303 |
| **Deere & Co.** | 576 | 263 |
| **DNOW, Inc. (a)** | 2053 | 31 |
| **Donaldson Co., Inc.** | 643 | 53 |
| **Dycom Industries, Inc. (a)** | 157 | 46 |
| **EMCOR Group, Inc.** | 155 | 101 |
| **Emerson Electric Co.** | 1914 | 251 |
| **Equifax, Inc.** | 261 | 67 |
| **Esab Corp.** | 268 | 30 |
| **Everus Construction Group, Inc. (a)** | 260 | 22 |
| **ExlService Holdings, Inc. (a)** | 473 | 21 |
| **Expeditors International of Washington, Inc.** | 2219 | 272 |
| **Fastenal Co.** | 5454 | 267 |
| **Federal Signal Corp.** | 164 | 20 |
| **Ferguson Enterprises, Inc.** | 321 | 72 |
| **Franklin Electric Co., Inc.** | 287 | 27 |
| **FTI Consulting, Inc. (a)** | 404 | 65 |
| **Gates Industrial Corp. PLC (a)** | 821 | 20 |
| **GATX Corp.** | 453 | 79 |
| **GE Vernova, Inc.** | 661 | 406 |
| **Generac Holdings, Inc. (a)** | 511 | 86 |
| **General Dynamics Corp.** | 1362 | 464 |
| **General Electric Co.** | 6949 | 2090 |
| **Genpact Ltd.** | 2091 | 88 |
| **GEO Group, Inc. (a)** | 4291 | 88 |
| **Graco, Inc.** | 918 | 78 |
| **Granite Construction, Inc.** | 918 | 101 |
| **Greenbrier Cos., Inc.** | 1202 | 55 |
| **Healthcare Services Group, Inc. (a)** | 1332 | 22 |
| **HEICO Corp.** | 386 | 125 |
| **Hertz Global Holdings, Inc. (a)** | 3518 | 24 |
| **Hexcel Corp.** | 716 | 45 |
| **HNI Corp.** | 264 | 12 |
| **Howmet Aerospace, Inc.** | 3243 | 636 |
| **Hub Group, Inc. Class A** | 956 | 33 |
| **Hubbell, Inc.** | 97 | 42 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Huntington** **Ingalls Industries, Inc.** | 181 | 52 |
| **IDEX Corp.** | 964 | 157 |
| **Illinois Tool Works, Inc.** | 1408 | 367 |
| **ITT, Inc.** | 624 | 112 |
| **JB Hunt Transport Services, Inc.** | 332 | 45 |
| **JBT Marel Corp.** | 174 | 24 |
| **JetBlue Airways Corp. (a)** | 7460 | 37 |
| **Johnson Controls International PLC** | 1510 | 166 |
| **KBR, Inc.** | 404 | 19 |
| **Kennametal, Inc.** | 1022 | 21 |
| **Knight-Swift Transportation Holdings, Inc.** | 755 | 30 |
| **L3Harris Technologies, Inc.** | 1561 | 477 |
| **Landstar System, Inc.** | 876 | 107 |
| **Leidos Holdings, Inc.** | 822 | 155 |
| **Lennox International, Inc.** | 355 | 188 |
| **Lincoln Electric Holdings, Inc.** | 572 | 135 |
| **Lockheed Martin Corp.** | 2655 | 1325 |
| **ManpowerGroup, Inc.** | 730 | 28 |
| **Masco Corp.** | 973 | 68 |
| **MasTec, Inc. (a)** | 174 | 37 |
| **Matson, Inc.** | 515 | 51 |
| **Maximus, Inc.** | 716 | 65 |
| **Mercury Systems, Inc. (a)** | 277 | 21 |
| **Moog, Inc. Class A** | 474 | 98 |
| **MSA Safety, Inc.** | 358 | 62 |
| **MSC Industrial Direct Co., Inc. Class A** | 1054 | 97 |
| **Mueller Industries, Inc.** | 1668 | 169 |
| **Northrop Grumman Corp.** | 1305 | 795 |
| **Old Dominion Freight Line, Inc.** | 203 | 29 |
| **OPENLANE, Inc. (a)** | 1382 | 40 |
| **Oshkosh Corp.** | 399 | 52 |
| **Otis Worldwide Corp.** | 1791 | 164 |
| **Owens Corning** | 274 | 39 |
| **Parker-Hannifin Corp.** | 287 | 218 |
| **Parsons Corp. (a)** | 548 | 45 |
| **Paychex, Inc.** | 1349 | 171 |
| **Paycom Software, Inc.** | 152 | 32 |
| **Primoris Services Corp.** | 1450 | 199 |
| **Quanta Services, Inc.** | 955 | 396 |
| **RBC Bearings, Inc. (a)** | 145 | 57 |
| **Republic Services, Inc.** | 1204 | 276 |
| **Resideo Technologies, Inc. (a)** | 2057 | 89 |
| **Robert Half, Inc.** | 691 | 23 |
| **Rockwell Automation, Inc.** | 178 | 62 |
| **Rollins, Inc.** | 2329 | 137 |
| **RTX Corp.** | 3157 | 528 |
| **Rush Enterprises, Inc. Class A** | 934 | 50 |
| **Ryder System, Inc.** | 136 | 26 |
| **Schneider National, Inc. Class B** | 1574 | 33 |
| **Science Applications International Corp.** | 789 | 78 |
| **SkyWest, Inc. (a)** | 645 | 65 |
| **Snap-on, Inc.** | 66 | 23 |
| **Spirit AeroSystems Holdings, Inc. Class A (a)** | 780 | 30 |
| **SS&C Technologies Holdings, Inc.** | 536 | 48 |
| **Steelcase, Inc. Class A** | 1239 | 21 |
| **Terex Corp.** | 1536 | 79 |
| **Timken Co.** | 795 | 60 |
| **Toro Co.** | 1232 | 94 |
| **Trinity Industries, Inc.** | 954 | 27 |
| **Uber Technologies, Inc. (a)** | 4927 | 483 |
| **UFP Industries, Inc.** | 1001 | 94 |
| **UL Solutions, Inc. Class A** | 298 | 21 |
| **UniFirst Corp.** | 339 | 57 |
| **Union Pacific Corp.** | 2537 | 600 |
| **United Airlines Holdings, Inc. (a)** | 445 | 43 |
| **United Parcel Service, Inc. Class B** | 4369 | 365 |
| **Valmont Industries, Inc.** | 77 | 30 |
| **Veralto Corp.** | 756 | 81 |
| **Verisk Analytics, Inc.** | 981 | 247 |
| **Vertiv Holdings Co. Class A** | 1382 | 208 |
| **Waste Management, Inc.** | 2131 | 471 |
| **Watsco, Inc.** | 488 | 197 |
| **Watts Water Technologies, Inc. Class A** | 127 | 35 |
| **Werner Enterprises, Inc.** | 1614 | 42 |
| **Westinghouse Air Brake Technologies Corp.** | 472 | 95 |
| **Woodward, Inc.** | 87 | 22 |
| **Worthington Enterprises, Inc.** | 569 | 32 |
| **WW Grainger, Inc.** | 187 | 178 |
| **Zurn Elkay Water Solutions Corp.** | 439 | 21 |
|  |  | 24997 |
| **INFORMATION TECHNOLOGY 16.8%**  |  |  |
| **Adobe, Inc. (a)** | 180 | 64 |
| **Advanced Energy Industries, Inc.** | 128 | 22 |
| **Akamai Technologies, Inc. (a)** | 612 | 46 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Amdocs** **Ltd.** | 904 | 74 |
| **Amkor Technology, Inc.** | 1564 | 44 |
| **Amphenol Corp. Class A** | 2954 | 366 |
| **Apple, Inc.** | 8307 | 2115 |
| **Applied Materials, Inc.** | 2654 | 543 |
| **AppLovin Corp. Class A (a)** | 940 | 675 |
| **Arista Networks, Inc. (a)** | 2353 | 343 |
| **Arrow Electronics, Inc. (a)** | 846 | 102 |
| **Aurora Innovation, Inc. (a)** | 2949 | 16 |
| **Autodesk, Inc. (a)** | 444 | 141 |
| **Avnet, Inc.** | 1680 | 88 |
| **Belden, Inc.** | 589 | 71 |
| **Broadcom, Inc.** | 14710 | 4853 |
| **Cadence Design Systems, Inc. (a)** | 637 | 224 |
| **CDW Corp.** | 228 | 36 |
| **Ciena Corp. (a)** | 526 | 77 |
| **Cirrus Logic, Inc. (a)** | 426 | 53 |
| **Cisco Systems, Inc.** | 33029 | 2260 |
| **Coherent Corp. (a)** | 638 | 69 |
| **CommScope Holding Co., Inc. (a)** | 6352 | 98 |
| **Commvault Systems, Inc. (a)** | 591 | 112 |
| **Corning, Inc.** | 11400 | 935 |
| **Crowdstrike Holdings, Inc. Class A (a)** | 824 | 404 |
| **Dell Technologies, Inc. Class C** | 632 | 90 |
| **Docusign, Inc. (a)** | 685 | 49 |
| **Dolby Laboratories, Inc. Class A** | 715 | 52 |
| **Dropbox, Inc. Class A (a)** | 2738 | 83 |
| **DXC Technology Co. (a)** | 2851 | 39 |
| **F5, Inc. (a)** | 789 | 255 |
| **Fair Isaac Corp. (a)** | 94 | 141 |
| **Flex Ltd. (a)** | 857 | 50 |
| **Fortinet, Inc. (a)** | 525 | 44 |
| **Gartner, Inc. (a)** | 277 | 73 |
| **Gen Digital, Inc.** | 5895 | 167 |
| **GoDaddy, Inc. Class A (a)** | 880 | 120 |
| **Guidewire Software, Inc. (a)** | 362 | 83 |
| **Hewlett Packard Enterprise Co.** | 17532 | 431 |
| **HP, Inc.** | 18121 | 493 |
| **Insight Enterprises, Inc. (a)** | 562 | 64 |
| **Intel Corp. (a)** | 43366 | 1455 |
| **InterDigital, Inc.** | 190 | 66 |
| **International Business Machines Corp.** | 8854 | 2498 |
| **Intuit, Inc.** | 653 | 446 |
| **Jabil, Inc.** | 967 | 210 |
| **Keysight Technologies, Inc. (a)** | 248 | 43 |
| **KLA Corp.** | 298 | 321 |
| **Knowles Corp. (a)** | 1700 | 40 |
| **Kyndryl Holdings, Inc. (a)** | 4575 | 137 |
| **Lam Research Corp.** | 7594 | 1017 |
| **Lattice Semiconductor Corp. (a)** | 622 | 46 |
| **Lumentum Holdings, Inc. (a)** | 213 | 35 |
| **Manhattan Associates, Inc. (a)** | 232 | 48 |
| **Motorola Solutions, Inc.** | 412 | 188 |
| **NCR Voyix Corp. (a)** | 1613 | 20 |
| **NetApp, Inc.** | 905 | 107 |
| **NetScout Systems, Inc. (a)** | 1493 | 39 |
| **Nutanix, Inc. (a)** | 856 | 64 |
| **NVIDIA Corp.** | 13628 | 2543 |
| **Okta, Inc. (a)** | 500 | 46 |
| **Oracle Corp.** | 17965 | 5052 |
| **OSI Systems, Inc. (a)** | 317 | 79 |
| **Palantir Technologies, Inc. Class A (a)** | 3011 | 549 |
| **Plexus Corp. (a)** | 478 | 69 |
| **Qorvo, Inc. (a)** | 226 | 21 |
| **QUALCOMM, Inc.** | 3882 | 646 |
| **Rambus, Inc. (a)** | 326 | 34 |
| **Roper Technologies, Inc.** | 271 | 135 |
| **Sanmina Corp. (a)** | 1046 | 120 |
| **Seagate Technology Holdings PLC** | 1572 | 371 |
| **Silicon Laboratories, Inc. (a)** | 149 | 20 |
| **Snowflake, Inc. (a)** | 1096 | 247 |
| **Strategy, Inc. (a)** | 985 | 317 |
| **TD SYNNEX Corp.** | 165 | 27 |
| **Teledyne Technologies, Inc. (a)** | 71 | 42 |
| **Teradata Corp. (a)** | 1278 | 28 |
| **Teradyne, Inc.** | 686 | 94 |
| **Texas Instruments, Inc.** | 3186 | 585 |
| **Trimble, Inc. (a)** | 1099 | 90 |
| **TTM Technologies, Inc. (a)** | 1656 | 95 |
| **Twilio, Inc. Class A (a)** | 289 | 29 |
| **Tyler Technologies, Inc. (a)** | 117 | 61 |
| **Unity Software, Inc. (a)** | 970 | 39 |
| **VeriSign, Inc.** | 737 | 206 |
| **Viasat, Inc. (a)** | 1850 | 54 |
| **Vishay Intertechnology, Inc.** | 2487 | 38 |
| **Vontier Corp.** | 959 | 40 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Western** **Digital Corp.** | 4698 | 564 |
| **Xerox Holdings Corp.** | 2902 | 11 |
| **Zoom Communications, Inc. (a)** | 559 | 46 |
|  |  | 35143 |
| **MATERIALS 2.4%**  |  |  |
| **Alcoa Corp.** | 2356 | 78 |
| **AptarGroup, Inc.** | 585 | 78 |
| **Avery Dennison Corp.** | 734 | 119 |
| **Ball Corp.** | 1782 | 90 |
| **Cabot Corp.** | 914 | 70 |
| **Celanese Corp.** | 790 | 33 |
| **CF Industries Holdings, Inc.** | 271 | 24 |
| **Chemours Co.** | 2361 | 37 |
| **Cleveland-Cliffs, Inc. (a)** | 2050 | 25 |
| **Commercial Metals Co.** | 1671 | 96 |
| **Corteva, Inc.** | 2904 | 196 |
| **CRH PLC** | 1551 | 186 |
| **Crown Holdings, Inc.** | 1624 | 157 |
| **Dow, Inc.** | 2632 | 60 |
| **DuPont de Nemours, Inc.** | 5163 | 402 |
| **Eagle Materials, Inc.** | 376 | 88 |
| **Eastman Chemical Co.** | 959 | 61 |
| **Graphic Packaging Holding Co.** | 4444 | 87 |
| **Greif, Inc. Class A** | 346 | 21 |
| **Huntsman Corp.** | 528 | 5 |
| **International Paper Co.** | 4135 | 192 |
| **Louisiana-Pacific Corp.** | 1068 | 95 |
| **LyondellBasell Industries NV Class A** | 5853 | 287 |
| **Mosaic Co.** | 5798 | 201 |
| **NewMarket Corp.** | 114 | 94 |
| **Newmont Corp.** | 7331 | 618 |
| **Nucor Corp.** | 2425 | 328 |
| **O-I Glass, Inc. (a)** | 2104 | 27 |
| **Packaging Corp. of America** | 565 | 123 |
| **PPG Industries, Inc.** | 893 | 94 |
| **Reliance, Inc.** | 430 | 121 |
| **Royal Gold, Inc.** | 517 | 104 |
| **RPM International, Inc.** | 1565 | 185 |
| **Sealed Air Corp.** | 2162 | 76 |
| **Sensient Technologies Corp.** | 685 | 64 |
| **Sherwin-Williams Co.** | 341 | 118 |
| **Silgan Holdings, Inc.** | 1212 | 52 |
| **Sonoco Products Co.** | 1766 | 76 |
| **Southern Copper Corp.** | 1 | 0 |
| **Steel Dynamics, Inc.** | 185 | 26 |
| **Sylvamo Corp.** | 782 | 35 |
| **Vulcan Materials Co.** | 233 | 72 |
| **Warrior Met Coal, Inc.** | 1651 | 105 |
|  |  | 5006 |
| **REAL ESTATE 0.1%**  |  |  |
| **CBRE Group, Inc. Class A (a)** | 568 | 90 |
| **Jones Lang LaSalle, Inc. (a)** | 436 | 130 |
| **Zillow Group, Inc. Class C (a)** | 717 | 55 |
|  |  | 275 |
| **UTILITIES 2.3%**  |  |  |
| **AES Corp.** | 2128 | 28 |
| **ALLETE, Inc.** | 325 | 22 |
| **Alliant Energy Corp.** | 836 | 56 |
| **Ameren Corp.** | 838 | 87 |
| **American Electric Power Co., Inc.** | 1372 | 154 |
| **American Water Works Co., Inc.** | 236 | 33 |
| **Atmos Energy Corp.** | 293 | 50 |
| **Avista Corp.** | 1058 | 40 |
| **CenterPoint Energy, Inc.** | 1591 | 62 |
| **Clearway Energy, Inc. Class C** | 1247 | 35 |
| **CMS Energy Corp.** | 741 | 54 |
| **Consolidated Edison, Inc.** | 885 | 89 |
| **Constellation Energy Corp.** | 776 | 255 |
| **Dominion Energy, Inc.** | 2233 | 137 |
| **DTE Energy Co.** | 159 | 23 |
| **Duke Energy Corp.** | 1970 | 244 |
| **Entergy Corp.** | 1164 | 108 |
| **Essential Utilities, Inc.** | 768 | 31 |
| **Evergy, Inc.** | 642 | 49 |
| **Eversource Energy** | 758 | 54 |
| **Exelon Corp.** | 7341 | 330 |
| **Hawaiian Electric Industries, Inc. (a)** | 2126 | 23 |
| **IDACORP, Inc.** | 189 | 25 |
| **MDU Resources Group, Inc.** | 3379 | 60 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **National** **Fuel Gas Co.** | 1201 | 111 |
| **New Jersey Resources Corp.** | 474 | 23 |
| **NiSource, Inc.** | 1526 | 66 |
| **Northwestern Energy Group, Inc.** | 411 | 24 |
| **NRG Energy, Inc.** | 1630 | 264 |
| **OGE Energy Corp.** | 565 | 26 |
| **ONE Gas, Inc.** | 290 | 23 |
| **Ormat Technologies, Inc.** | 525 | 51 |
| **Portland General Electric Co.** | 531 | 23 |
| **PPL Corp.** | 1686 | 63 |
| **Public Service Enterprise Group, Inc.** | 1239 | 103 |
| **Southern Co.** | 2722 | 258 |
| **Southwest Gas Holdings, Inc.** | 337 | 26 |
| **Spire, Inc.** | 369 | 30 |
| **Talen Energy Corp. (a)** | 295 | 126 |
| **TXNM Energy, Inc.** | 1407 | 80 |
| **UGI Corp.** | 1968 | 65 |
| **Vistra Corp.** | 6593 | 1292 |
| **WEC Energy Group, Inc.** | 685 | 79 |
| **Xcel Energy, Inc.** | 1161 | 94 |
|  |  | 4876 |
| Total United States |  | 203193 |
| Total Common Stocks (Cost $172,620) |  | 205362 |
| **REAL ESTATE INVESTMENT TRUSTS 1.4%**  |  |  |
| **UNITED STATES 1.4%**  |  |  |
| **REAL ESTATE 1.4%**  |  |  |
| **AGNC Investment Corp.** | 9866 | 97 |
| **Agree Realty Corp.** | 627 | 44 |
| **American Healthcare REIT, Inc.** | 591 | 25 |
| **American Homes 4 Rent** | 1781 | 59 |
| **American Tower Corp.** | 248 | 48 |
| **Americold Realty Trust, Inc.** | 3273 | 40 |
| **Annaly Capital Management, Inc.** | 1519 | 31 |
| **Apple Hospitality REIT, Inc.** | 3254 | 39 |
| **Blackstone Mortgage Trust, Inc.** | 2132 | 39 |
| **Brandywine Realty Trust** | 4599 | 19 |
| **Camden Property Trust** | 840 | 90 |
| **COPT Defense Properties** | 777 | 23 |
| **CubeSmart** | 823 | 33 |
| **DiamondRock Hospitality Co.** | 4617 | 37 |
| **Digital Realty Trust, Inc.** | 765 | 132 |
| **Douglas Emmett, Inc.** | 2052 | 32 |
| **Equity LifeStyle Properties, Inc.** | 531 | 32 |
| **First Industrial Realty Trust, Inc.** | 695 | 36 |
| **Gaming & Leisure Properties, Inc.** | 1585 | 74 |
| **Healthcare Realty Trust, Inc.** | 5088 | 92 |
| **Host Hotels & Resorts, Inc.** | 1323 | 22 |
| **Iron Mountain, Inc.** | 1017 | 104 |
| **JBG SMITH Properties** | 2241 | 50 |
| **Lamar Advertising Co.** | 873 | 107 |
| **LXP Industrial Trust** | 4194 | 37 |
| **Macerich Co.** | 2735 | 50 |
| **Medical Properties Trust, Inc.** | 12896 | 65 |
| **MFA Financial, Inc.** | 2011 | 18 |
| **Omega Healthcare Investors, Inc.** | 726 | 31 |
| **Paramount Group, Inc.** | 3173 | 21 |
| **Park Hotels & Resorts, Inc.** | 7984 | 88 |
| **PennyMac Mortgage Investment Trust** | 1393 | 17 |
| **Phillips Edison & Co., Inc.** | 792 | 27 |
| **Public Storage** | 236 | 68 |
| **Rayonier, Inc.** | 1354 | 36 |
| **Rithm Capital Corp.** | 2867 | 33 |
| **RLJ Lodging Trust** | 3037 | 22 |
| **SBA Communications Corp.** | 532 | 103 |
| **Simon Property Group, Inc.** | 1033 | 194 |
| **SL Green Realty Corp.** | 1468 | 88 |
| **Sun Communities, Inc.** | 490 | 63 |
| **Sunstone Hotel Investors, Inc.** | 2471 | 23 |
| **Ventas, Inc.** | 1002 | 70 |
| **VICI Properties, Inc.** | 1522 | 50 |
| **Vornado Realty Trust** | 2562 | 104 |
| **Welltower, Inc.** | 1545 | 275 |
| **WP Carey, Inc.** | 766 | 52 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Xenia** **Hotels & Resorts, Inc.** | 1927 | 26 |
|  |  | 2866 |
| Total Real Estate Investment Trusts (Cost $2,669) |  | 2866 |
| **SHORT-TERM INSTRUMENTS 0.4%**  |  |  |
| **MUTUAL FUNDS 0.4%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200% (b) | 861916 | 862 |
| Total Short-Term Instruments (Cost $862) |  | 862 |
| Total Investments in Securities (Cost $176,151) |  | 209090 |
| Total Investments 100.0% (Cost $176,151) |  | $209090 |
| Other Assets and Liabilities, net 0.0% |  | 40 |
| Net Assets 100.0% |  | $209130 |

---

------

<br> Schedule of Investments PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |
| **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** |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Ireland | Ireland | Ireland | Ireland | Ireland | Ireland |
|  | Health Care | $87 | $0 | $0 | $87 |
|  | Information Technology | 569 | 0 | 0 | 569 |
| Switzerland | Switzerland | Switzerland | Switzerland | Switzerland | Switzerland |
|  | Materials | 72 | 0 | 0 | 72 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
|  | Communication Services | 89 | 0 | 0 | 89 |
|  | Consumer Staples | 1 | 0 | 0 | 1 |
|  | Energy | 191 | 0 | 0 | 191 |
|  | Financials | 1005 | 0 | 0 | 1005 |
|  | Industrials | 155 | 0 | 0 | 155 |
| United States | United States | United States | United States | United States | United States |
|  | Communication Services | 15373 | 0 | 0 | 15373 |
|  | Consumer Discretionary | 25374 | 0 | 0 | 25374 |
|  | Consumer Staples | 22021 | 0 | 0 | 22021 |
|  | Energy | 9811 | 0 | 0 | 9811 |
|  | Financials | 34020 | 0 | 0 | 34020 |
|  | Health Care | 26297 | 0 | 0 | 26297 |
|  | Industrials | 24997 | 0 | 0 | 24997 |
|  | Information Technology | 35143 | 0 | 0 | 35143 |
|  | Materials | 5006 | 0 | 0 | 5006 |
|  | Real Estate | 275 | 0 | 0 | 275 |
|  | Utilities | 4876 | 0 | 0 | 4876 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| United States | United States | United States | United States | United States | United States |
|  | Real Estate | 2866 | 0 | 0 | 2866 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 862 | 0 | 862 |
| Total Investments | Total Investments | $208228 | $862 | $0 | $209090 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 99.6% ¤** |  |  |
| **COMMON STOCKS 97.8%**  |  |  |
| **IRELAND 0.5%**  |  |  |
| **INFORMATION TECHNOLOGY 0.5%**  |  |  |
| **Accenture PLC Class A** | 602 | $148 |
| **TE Connectivity PLC** | 1585 | 348 |
|  |  | 496 |
| Total Ireland |  | 496 |
| **SWITZERLAND 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Sunrise Communications AG Class A ADR** | 913 | 54 |
| **MATERIALS 0.1%**  |  |  |
| **Amcor PLC** | 13604 | 111 |
| Total Switzerland |  | 165 |
| **UNITED KINGDOM 0.2%**  |  |  |
| **COMMUNICATION SERVICES 0.1%**  |  |  |
| **Liberty Global Ltd. Class C (a)** | 5918 | 70 |
| **INDUSTRIALS 0.1%**  |  |  |
| **CNH Industrial NV** | 8589 | 93 |
| Total United Kingdom |  | 163 |
| **UNITED STATES 96.9%**  |  |  |
| **COMMUNICATION SERVICES 7.0%**  |  |  |
| **AT&T, Inc.** | 77948 | 2201 |
| **Comcast Corp. Class A** | 34452 | 1082 |
| **Electronic Arts, Inc.** | 1278 | 258 |
| **Fox Corp. Class A** | 679 | 43 |
| **Interpublic Group of Cos., Inc.** | 2891 | 81 |
| **Lumen Technologies, Inc. (a)** | 25871 | 158 |
| **News Corp. Class A** | 2075 | 64 |
| **Omnicom Group, Inc.** | 1129 | 92 |
| **Paramount Skydance Corp. Class B** | 9229 | 175 |
| **Verizon Communications, Inc.** | 45242 | 1988 |
| **Walt Disney Co.** | 7178 | 822 |
|  |  | 6964 |
| **CONSUMER DISCRETIONARY 6.5%**  |  |  |
| **Best Buy Co., Inc.** | 3915 | 296 |
| **Booking Holdings, Inc.** | 11 | 59 |
| **BorgWarner, Inc.** | 2547 | 112 |
| **Carnival Corp. (a)** | 1609 | 47 |
| **Chipotle Mexican Grill, Inc. (a)** | 844 | 33 |
| **eBay, Inc.** | 4631 | 421 |
| **Expedia Group, Inc.** | 268 | 57 |
| **Ford Motor Co.** | 22074 | 264 |
| **Gap, Inc.** | 3243 | 69 |
| **General Motors Co.** | 24594 | 1499 |
| **Goodyear Tire & Rubber Co. (a)** | 8102 | 61 |
| **Hilton Worldwide Holdings, Inc.** | 439 | 114 |
| **Home Depot, Inc.** | 2172 | 880 |
| **Kohl's Corp.** | 10829 | 166 |
| **Lear Corp.** | 703 | 71 |
| **LKQ Corp.** | 946 | 29 |
| **Lowe's Cos., Inc.** | 3282 | 825 |
| **Macy's, Inc.** | 6845 | 123 |
| **Marriott International, Inc. Class A** | 552 | 144 |
| **Newell Brands, Inc.** | 7834 | 41 |

---

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<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **NIKE** **, Inc. Class B** | 1805 | 126 |
| **PVH Corp.** | 1076 | 90 |
| **Ralph Lauren Corp.** | 109 | 34 |
| **Tapestry, Inc.** | 1615 | 183 |
| **Thor Industries, Inc.** | 325 | 34 |
| **TJX Cos., Inc.** | 2743 | 396 |
| **Tractor Supply Co.** | 1573 | 89 |
| **VF Corp.** | 7871 | 114 |
| **Whirlpool Corp.** | 1535 | 121 |
|  |  | 6498 |
| **CONSUMER STAPLES 7.2%**  |  |  |
| **Archer-Daniels-Midland Co.** | 7120 | 425 |
| **Campbell's Co.** | 1606 | 51 |
| **Church & Dwight Co., Inc.** | 671 | 59 |
| **Coca-Cola Co.** | 8573 | 569 |
| **Colgate-Palmolive Co.** | 3462 | 277 |
| **Conagra Brands, Inc.** | 5855 | 107 |
| **Dollar Tree, Inc. (a)** | 442 | 42 |
| **Estee Lauder Cos., Inc. Class A** | 766 | 67 |
| **General Mills, Inc.** | 6024 | 304 |
| **Hershey Co.** | 388 | 73 |
| **Hormel Foods Corp.** | 1380 | 34 |
| **J.M. Smucker Co.** | 232 | 25 |
| **Kellanova** | 1320 | 108 |
| **Kenvue, Inc.** | 5736 | 93 |
| **Keurig Dr. Pepper, Inc.** | 2085 | 53 |
| **Kimberly-Clark Corp.** | 1749 | 217 |
| **Kraft Heinz Co.** | 12060 | 314 |
| **McCormick & Co., Inc.** | 468 | 31 |
| **Mondelez International, Inc. Class A** | 7324 | 458 |
| **PepsiCo, Inc.** | 6725 | 944 |
| **Procter & Gamble Co.** | 13723 | 2109 |
| **Sysco Corp.** | 2694 | 222 |
| **Target Corp.** | 6455 | 579 |
| **U.S. Foods Holding Corp. (a)** | 416 | 32 |
|  |  | 7193 |
| **FINANCIALS 14.6%**  |  |  |
| **Aflac, Inc.** | 2482 | 277 |
| **Allstate Corp.** | 1675 | 360 |
| **American Express Co.** | 1387 | 461 |
| **Ameriprise Financial, Inc.** | 110 | 54 |
| **Bank of New York Mellon Corp.** | 5741 | 626 |
| **Blackrock, Inc.** | 443 | 516 |
| **Citigroup, Inc.** | 21178 | 2150 |
| **Fidelity National Information Services, Inc.** | 3268 | 215 |
| **Fifth Third Bancorp** | 1100 | 49 |
| **Fiserv, Inc. (a)** | 809 | 104 |
| **Global Payments, Inc.** | 933 | 77 |
| **Goldman Sachs Group, Inc.** | 1249 | 995 |
| **Hartford Insurance Group, Inc.** | 1679 | 224 |
| **JPMorgan Chase & Co.** | 9371 | 2956 |
| **Lincoln National Corp.** | 856 | 34 |
| **Marsh & McLennan Cos., Inc.** | 422 | 85 |
| **Mastercard, Inc. Class A** | 1262 | 718 |
| **MetLife, Inc.** | 5134 | 423 |
| **Moody's Corp.** | 270 | 129 |
| **Morgan Stanley** | 2396 | 381 |
| **Nasdaq, Inc.** | 288 | 25 |
| **Northern Trust Corp.** | 657 | 88 |
| **PayPal Holdings, Inc. (a)** | 2767 | 186 |
| **Principal Financial Group, Inc.** | 1989 | 165 |
| **Progressive Corp.** | 495 | 122 |
| **Prudential Financial, Inc.** | 2972 | 308 |
| **S&P Global, Inc.** | 656 | 319 |
| **State Street Corp.** | 2082 | 242 |
| **T. Rowe Price Group, Inc.** | 970 | 100 |
| **Travelers Cos., Inc.** | 179 | 50 |
| **Unum Group** | 746 | 58 |
| **Visa, Inc. Class A** | 2504 | 855 |
| **Wells Fargo & Co.** | 14507 | 1216 |
|  |  | 14568 |
| **HEALTH CARE 22.2%**  |  |  |
| **Abbott Laboratories** | 8510 | 1140 |
| **AbbVie, Inc.** | 7429 | 1720 |
| **Agilent Technologies, Inc.** | 1423 | 183 |
| **Amgen, Inc.** | 754 | 213 |
| **Baxter International, Inc.** | 7994 | 182 |
| **Becton Dickinson & Co.** | 1742 | 326 |
| **Biogen, Inc. (a)** | 1498 | 210 |

---

------

<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Boston** **Scientific Corp. (a)** | 1222 | 119 |
| **Bristol-Myers Squibb Co.** | 28055 | 1265 |
| **Cardinal Health, Inc.** | 1756 | 276 |
| **Cencora, Inc.** | 287 | 90 |
| **Cigna Group** | 3742 | 1079 |
| **CVS Health Corp.** | 20899 | 1576 |
| **Danaher Corp.** | 591 | 117 |
| **Edwards Lifesciences Corp. (a)** | 2417 | 188 |
| **Elevance Health, Inc.** | 2795 | 903 |
| **Eli Lilly & Co.** | 191 | 146 |
| **GE HealthCare Technologies, Inc.** | 3012 | 226 |
| **Gilead Sciences, Inc.** | 7118 | 790 |
| **HCA Healthcare, Inc.** | 822 | 350 |
| **Henry Schein, Inc. (a)** | 498 | 33 |
| **Hologic, Inc. (a)** | 1311 | 88 |
| **Humana, Inc.** | 1929 | 502 |
| **Illumina, Inc. (a)** | 719 | 68 |
| **Intuitive Surgical, Inc. (a)** | 162 | 72 |
| **IQVIA Holdings, Inc. (a)** | 93 | 18 |
| **Johnson & Johnson** | 17822 | 3304 |
| **Labcorp Holdings, Inc.** | 1295 | 372 |
| **McKesson Corp.** | 273 | 211 |
| **Merck & Co., Inc.** | 21586 | 1812 |
| **Moderna, Inc. (a)** | 7624 | 197 |
| **Pfizer, Inc.** | 20322 | 518 |
| **Quest Diagnostics, Inc.** | 156 | 30 |
| **Regeneron Pharmaceuticals, Inc.** | 641 | 360 |
| **Solventum Corp. (a)** | 392 | 29 |
| **STERIS PLC** | 124 | 31 |
| **Stryker Corp.** | 478 | 177 |
| **Thermo Fisher Scientific, Inc.** | 1604 | 778 |
| **UnitedHealth Group, Inc.** | 5996 | 2070 |
| **Viatris, Inc.** | 21845 | 216 |
| **Waters Corp. (a)** | 121 | 36 |
| **Zoetis, Inc.** | 902 | 132 |
|  |  | 22153 |
| **INDUSTRIALS 4.2%**  |  |  |
| **3M Co.** | 3954 | 614 |
| **AGCO Corp.** | 955 | 102 |
| **Automatic Data Processing, Inc.** | 1181 | 347 |
| **Carlisle Cos., Inc.** | 60 | 20 |
| **Carrier Global Corp.** | 992 | 59 |
| **Cintas Corp.** | 383 | 79 |
| **Cummins, Inc.** | 555 | 234 |
| **Deere & Co.** | 1222 | 559 |
| **Dover Corp.** | 337 | 56 |
| **Ferguson Enterprises, Inc.** | 644 | 145 |
| **Ingersoll Rand, Inc.** | 1131 | 93 |
| **Johnson Controls International PLC** | 3698 | 407 |
| **ManpowerGroup, Inc.** | 1717 | 65 |
| **Masco Corp.** | 494 | 35 |
| **Otis Worldwide Corp.** | 1024 | 94 |
| **Owens Corning** | 920 | 130 |
| **Paychex, Inc.** | 665 | 84 |
| **Republic Services, Inc.** | 273 | 63 |
| **Stanley Black & Decker, Inc.** | 1696 | 126 |
| **United Parcel Service, Inc. Class B** | 1011 | 84 |
| **United Rentals, Inc.** | 145 | 138 |
| **Waste Management, Inc.** | 1391 | 307 |
| **WESCO International, Inc.** | 308 | 65 |
| **Westinghouse Air Brake Technologies Corp.** | 661 | 133 |
| **WW Grainger, Inc.** | 118 | 112 |
|  |  | 4151 |
| **INFORMATION TECHNOLOGY 30.2%**  |  |  |
| **Adobe, Inc. (a)** | 1751 | 618 |
| **Advanced Micro Devices, Inc. (a)** | 3598 | 582 |
| **Akamai Technologies, Inc. (a)** | 425 | 32 |
| **Amdocs Ltd.** | 812 | 67 |
| **Analog Devices, Inc.** | 2201 | 541 |
| **Apple, Inc.** | 20631 | 5253 |
| **Applied Materials, Inc.** | 4183 | 856 |
| **Arrow Electronics, Inc. (a)** | 1022 | 124 |
| **Autodesk, Inc. (a)** | 97 | 31 |
| **Avnet, Inc.** | 657 | 34 |
| **Broadcom, Inc.** | 4282 | 1413 |
| **Cadence Design Systems, Inc. (a)** | 309 | 109 |
| **CDW Corp.** | 524 | 83 |
| **Cisco Systems, Inc.** | 30545 | 2090 |
| **Cognizant Technology Solutions Corp. Class A** | 4322 | 290 |
| **Corning, Inc.** | 3682 | 302 |
| **Dell Technologies, Inc. Class C** | 1210 | 172 |
| **DXC Technology Co. (a)** | 3074 | 42 |

---

------

<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Flex** **Ltd. (a)** | 1364 | 79 |
| **Fortinet, Inc. (a)** | 743 | 63 |
| **Gen Digital, Inc.** | 2587 | 73 |
| **Hewlett Packard Enterprise Co.** | 25792 | 633 |
| **HP, Inc.** | 15605 | 425 |
| **Intel Corp. (a)** | 27070 | 908 |
| **International Business Machines Corp.** | 4725 | 1333 |
| **Intuit, Inc.** | 274 | 187 |
| **Jabil, Inc.** | 351 | 76 |
| **Keysight Technologies, Inc. (a)** | 777 | 136 |
| **KLA Corp.** | 244 | 263 |
| **Kyndryl Holdings, Inc. (a)** | 2299 | 69 |
| **Lam Research Corp.** | 5418 | 726 |
| **Marvell Technology, Inc.** | 1861 | 156 |
| **Microchip Technology, Inc.** | 1990 | 128 |
| **Micron Technology, Inc.** | 1603 | 268 |
| **Microsoft Corp.** | 10388 | 5380 |
| **Motorola Solutions, Inc.** | 273 | 125 |
| **NetApp, Inc.** | 1423 | 169 |
| **NVIDIA Corp.** | 6305 | 1176 |
| **ON Semiconductor Corp. (a)** | 2616 | 129 |
| **Oracle Corp.** | 4836 | 1360 |
| **Palo Alto Networks, Inc. (a)** | 274 | 56 |
| **QUALCOMM, Inc.** | 7910 | 1316 |
| **Salesforce, Inc.** | 2140 | 507 |
| **Sandisk Corp. (a)** | 592 | 66 |
| **Seagate Technology Holdings PLC** | 1920 | 453 |
| **Synopsys, Inc. (a)** | 182 | 90 |
| **TD SYNNEX Corp.** | 297 | 49 |
| **Teradyne, Inc.** | 974 | 134 |
| **Texas Instruments, Inc.** | 2951 | 542 |
| **Twilio, Inc. Class A (a)** | 416 | 42 |
| **Western Digital Corp.** | 2726 | 327 |
| **Workday, Inc. Class A (a)** | 282 | 68 |
| **Xerox Holdings Corp.** | 4541 | 17 |
|  |  | 30168 |
| **MATERIALS 4.1%**  |  |  |
| **Air Products & Chemicals, Inc.** | 282 | 77 |
| **Ball Corp.** | 2525 | 127 |
| **CF Industries Holdings, Inc.** | 1913 | 172 |
| **Corteva, Inc.** | 1200 | 81 |
| **CRH PLC** | 4332 | 519 |
| **Dow, Inc.** | 19716 | 452 |
| **DuPont de Nemours, Inc.** | 6130 | 478 |
| **Ecolab, Inc.** | 712 | 195 |
| **FMC Corp.** | 1543 | 52 |
| **Huntsman Corp.** | 6942 | 62 |
| **International Flavors & Fragrances, Inc.** | 1999 | 123 |
| **International Paper Co.** | 3908 | 181 |
| **Linde PLC** | 1674 | 795 |
| **Mosaic Co.** | 8038 | 279 |
| **Newmont Corp.** | 1774 | 150 |
| **Packaging Corp. of America** | 492 | 107 |
| **PPG Industries, Inc.** | 1337 | 141 |
| **Sherwin-Williams Co.** | 307 | 106 |
|  |  | 4097 |
| **REAL ESTATE 0.4%**  |  |  |
| **CBRE Group, Inc. Class A (a)** | 1791 | 282 |
| **Jones Lang LaSalle, Inc. (a)** | 552 | 165 |
|  |  | 447 |
| **UTILITIES 0.5%**  |  |  |
| **American Water Works Co., Inc.** | 284 | 39 |
| **Edison International** | 3982 | 220 |
| **Exelon Corp.** | 4527 | 204 |
|  |  | 463 |
| Total United States |  | 96702 |
| Total Common Stocks (Cost $82,364) |  | 97526 |
| **REAL ESTATE INVESTMENT TRUSTS 1.8%**  |  |  |
| **UNITED STATES 1.8%**  |  |  |
| **REAL ESTATE 1.8%**  |  |  |
| **American Tower Corp.** | 1151 | 221 |
| **AvalonBay Communities, Inc.** | 552 | 107 |
| **Crown Castle, Inc.** | 2084 | 201 |

---

------

<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Equinix** **, Inc.** | 208 | 163 |
| **Equity Residential** | 1743 | 113 |
| **Healthpeak Properties, Inc.** | 4080 | 78 |
| **Host Hotels & Resorts, Inc.** | 4899 | 84 |
| **Iron Mountain, Inc.** | 960 | 98 |
| **Kimco Realty Corp.** | 2133 | 47 |
| **Mid-America Apartment Communities, Inc.** | 367 | 51 |
| **Prologis, Inc.** | 1851 | 212 |
| **Public Storage** | 235 | 68 |
| **Ventas, Inc.** | 1991 | 139 |
| **Welltower, Inc.** | 434 | 77 |
| **Weyerhaeuser Co.** | 6782 | 168 |
|  |  | 1827 |
| Total Real Estate Investment Trusts (Cost $1,841) |  | 1827 |
| Total Investments in Securities (Cost $84,205) |  | 99353 |
| Total Investments 99.6% (Cost $84,205) |  | $99353 |
| Other Assets and Liabilities, net 0.4% |  | 411 |
| Net Assets 100.0% |  | $99764 |

---

------

<br> Schedule of Investments PIMCO RAFI ESG U.S. ETF (Cont.) September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** |
| **(a)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 3 | Fair Value<br>at 09/30/2025 |
| **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** |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Ireland | Ireland | Ireland | Ireland | Ireland |
|  | Information Technology | $496 | $0 | $496 |
| Switzerland | Switzerland | Switzerland | Switzerland | Switzerland |
|  | Communication Services | 54 | 0 | 54 |
|  | Materials | 111 | 0 | 111 |
| United Kingdom | United Kingdom | United Kingdom | United Kingdom | United Kingdom |
|  | Communication Services | 70 | 0 | 70 |
|  | Industrials | 93 | 0 | 93 |
| United States | United States | United States | United States | United States |
|  | Communication Services | 6964 | 0 | 6964 |
|  | Consumer Discretionary | 6498 | 0 | 6498 |
|  | Consumer Staples | 7193 | 0 | 7193 |
|  | Financials | 14568 | 0 | 14568 |
|  | Health Care | 22153 | 0 | 22153 |
|  | Industrials | 4151 | 0 | 4151 |
|  | Information Technology | 30168 | 0 | 30168 |
|  | Materials | 4097 | 0 | 4097 |
|  | Real Estate | 447 | 0 | 447 |
|  | Utilities | 463 | 0 | 463 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| United States | United States | United States | United States | United States |
|  | Real Estate | 1827 | 0 | 1827 |
| Total Investments | Total Investments | $99353 | $0 | $99353 |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2030 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 50.0% ¤** |  |  |
| **MUTUAL FUNDS 49.9%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 4168142 | $80570 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 783189 | 26715 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 351218 | 190964 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 81305 | 9903 |
| Total Mutual Funds (Cost $187,909) |  | 308152 |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 95576 | 96 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.1%**  |  |  |
| 4.106% due 10/21/2025 - 12/11/2025 (a)(b)(e) | $494 | 491 |
| Total Short-Term Instruments (Cost $587) |  | 587 |
| Total Investments in Securities (Cost $188,496) |  | 308739 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 50.5%**  |  |  |
| **MUTUAL FUNDS (c) 45.5%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 2652244 | 16550 |
| **PIMCO High Yield Fund**  | 512662 | 4184 |
| **PIMCO Income Fund**  | 4234298 | 46069 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 1095389 | 10866 |
| **PIMCO Long-Term Real Return Fund**  | 4707137 | 55591 |
| **PIMCO Long-Term U.S. Government Fund**  | 3553512 | 50318 |
| **PIMCO Real Return Fund**  | 2842406 | 29703 |
| **PIMCO Total Return Fund**  | 7646519 | 67366 |
| Total Mutual Funds (Cost $290,522) |  | 280647 |
| **SHORT-TERM INSTRUMENTS 5.0%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.0%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3178732 | 30957 |
| Total Short-Term Instruments (Cost $30,928) |  | 30957 |
| Total Investments in Affiliates (Cost $321,450) |  | 311604 |
| Total Investments 100.5% (Cost $509,946) |  | $620343 |
| **Financial Derivative Instruments (f) (0.0)**%(Cost or Premiums, net $0) |  | (34) |
| Other Assets and Liabilities, net (0.5)% |  | (3132) |
| Net Assets 100.0% |  | $617177 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2030 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(b)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** | **Securities with an aggregate market value of $150 have been pledged as collateral as of September 30, 2025 for equity short sales and equity options as governed by prime brokerage agreements and agreements governing listed equity option transactions.** |
| **(f)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 20481 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $10757 | $(13) | (13) | $0 | $(13) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 234 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 6008 | 44 | 44 | 44 | 0 |
|  |  | FNRETR Index  | 283 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 7348 | (29) | (29) | 0 | (29) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 31 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 805 | (3) | (3) | 0 | (3) |
|  |  | FNRETR Index  | 313 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 8126 | (32) | (32) | 0 | (32) |
|  |  | FNRETR Index  | 15 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 390 | (1) | (1) | 0 | (1) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(34)** | **(34)** | $**44** | $**(78)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $308152 | 308152 | $0 | 0 | $ | 308152 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 96 | 0 |  | 96 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 491 | 0 |  | 491 |  |
|  |  |  |  |  | $308152 | 308152 | $587 | 0 | $ | 308739 |  |
| **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** | **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** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 280647 | 280647 | 0 | 0 |  | 280647 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 30957 | 30957 | 0 | 0 |  | 30957 |  |
|  |  |  |  |  | $311604 | 311604 | $0 | 0 | $ | 311604 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $619756 | 619756 | $587 | 0 | $ | 620343 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $44 | 0 | $ | 44 |  |
| **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 | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(78) | 0 | $ | (78) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(34) | 0 | $ | (34) |  |
| Totals | Totals | Totals | Totals | Totals | $619756 | 619756 | $553 | 0 | $ | 620309 |  |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2030 Fund (Cont.) September 30, 2025 (Unaudited)

**There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.**<br>

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2035 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 61.1% ¤** |  |  |
| **MUTUAL FUNDS 60.9%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 3522639 | $106419 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 1178830 | 40210 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 455739 | 247795 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 148560 | 18095 |
| Total Mutual Funds (Cost $261,761) |  | 412519 |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 506506 | 506 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.1%**  |  |  |
| 4.014% due 12/11/2025 (a)(b) | $334 | 331 |
| Total Short-Term Instruments (Cost $837) |  | 837 |
| Total Investments in Securities (Cost $262,598) |  | 413356 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 39.3%**  |  |  |
| **MUTUAL FUNDS (c) 34.4%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 2278954 | 14221 |
| **PIMCO High Yield Fund**  | 404072 | 3297 |
| **PIMCO Income Fund**  | 3546855 | 38590 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 842070 | 8353 |
| **PIMCO Long-Term Real Return Fund**  | 3873763 | 45749 |
| **PIMCO Long-Term U.S. Government Fund**  | 2803196 | 39693 |
| **PIMCO Real Return Fund**  | 2401730 | 25098 |
| **PIMCO Total Return Fund**  | 6530435 | 57533 |
| Total Mutual Funds (Cost $238,771) |  | 232534 |
| **SHORT-TERM INSTRUMENTS 4.9%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.9%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3437692 | 33480 |
| Total Short-Term Instruments (Cost $33,440) |  | 33480 |
| Total Investments in Affiliates (Cost $272,211) |  | 266014 |
| Total Investments 100.4% (Cost $534,809) |  | $679370 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $0) |  | (44) |
| Other Assets and Liabilities, net (0.4)% |  | (2475) |
| Net Assets 100.0% |  | $676851 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2035 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 20825 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $10938 | $(13) | (13) | $0 | $(13) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 228 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 5854 | 43 | 43 | 43 | 0 |
|  |  | FNRETR Index  | 320 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 8308 | (33) | (33) | 0 | (33) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 29 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 753 | (3) | (3) | 0 | (3) |
|  |  | FNRETR Index  | 352 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 9139 | (36) | (36) | 0 | (36) |
|  |  | FNRETR Index  | 24 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 623 | (2) | (2) | 0 | (2) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(44)** | **(44)** | $**43** | $**(87)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $412519 | 412519 | $0 | 0 | $ | 412519 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 506 | 0 |  | 506 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 331 | 0 |  | 331 |  |
|  |  |  |  |  | $412519 | 412519 | $837 | 0 | $ | 413356 |  |
| **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** | **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** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 232534 | 232534 | 0 | 0 |  | 232534 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 33480 | 33480 | 0 | 0 |  | 33480 |  |
|  |  |  |  |  | $266014 | 266014 | $0 | 0 | $ | 266014 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $678533 | 678533 | $837 | 0 | $ | 679370 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $43 | 0 | $ | 43 |  |
| **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 | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(87) | 0 | $ | (87) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(44) | 0 | $ | (44) |  |
| Totals | Totals | Totals | Totals | Totals | $678533 | 678533 | $793 | 0 | $ | 679326 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2040 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 72.3% ¤** |  |  |
| **MUTUAL FUNDS 72.2%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 3785140 | $114349 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 1363402 | 46506 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 492019 | 267521 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 148044 | 18032 |
| Total Mutual Funds (Cost $282,989) |  | 446408 |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 565304 | 565 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 4.014% due 12/11/2025 (a)(b) | $283 | 281 |
| Total Short-Term Instruments (Cost $846) |  | 846 |
| Total Investments in Securities (Cost $283,835) |  | 447254 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 28.3%**  |  |  |
| **MUTUAL FUNDS (c) 23.5%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 1730308 | 10797 |
| **PIMCO High Yield Fund**  | 191160 | 1560 |
| **PIMCO Income Fund**  | 2098514 | 22832 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 654977 | 6497 |
| **PIMCO Long-Term Real Return Fund**  | 2521001 | 29773 |
| **PIMCO Long-Term U.S. Government Fund**  | 1490004 | 21098 |
| **PIMCO Real Return Fund**  | 1522496 | 15910 |
| **PIMCO Total Return Fund**  | 4098069 | 36104 |
| Total Mutual Funds (Cost $149,716) |  | 144571 |
| **SHORT-TERM INSTRUMENTS 4.8%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.8%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3012185 | 29336 |
| Total Short-Term Instruments (Cost $29,310) |  | 29336 |
| Total Investments in Affiliates (Cost $179,026) |  | 173907 |
| Total Investments 100.6% (Cost $462,861) |  | $621161 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $0) |  | (32) |
| Other Assets and Liabilities, net (0.6)% |  | (3480) |
| Net Assets 100.0% |  | $617649 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2040 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 17228 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $9049 | $(11) | (11) | $0 | $(11) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 236 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 6059 | 44 | 44 | 44 | 0 |
|  |  | FNRETR Index  | 298 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 7737 | (31) | (31) | 0 | (31) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 40 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 1038 | (4) | (4) | 0 | (4) |
|  |  | FNRETR Index  | 304 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 7893 | (30) | (30) | 0 | (30) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(32)** | **(32)** | $**44** | $**(76)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $446408 | 446408 | $0 | 0 | $ | 446408 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 565 | 0 |  | 565 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 281 | 0 |  | 281 |  |
|  |  |  |  |  | $446408 | 446408 | $846 | 0 | $ | 447254 |  |
| **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** | **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** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 144571 | 144571 | 0 | 0 |  | 144571 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 29336 | 29336 | 0 | 0 |  | 29336 |  |
|  |  |  |  |  | $173907 | 173907 | $0 | 0 | $ | 173907 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $620315 | 620315 | $846 | 0 | $ | 621161 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $44 | 0 | $ | 44 |  |
| **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 | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(76) | 0 | $ | (76) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(32) | 0 | $ | (32) |  |
| Totals | Totals | Totals | Totals | Totals | $620315 | 620315 | $814 | 0 | $ | 621129 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2045 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 81.7% ¤** |  |  |
| **MUTUAL FUNDS 81.6%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 4731339 | $142934 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 1432931 | 48877 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 545918 | 296827 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 154525 | 18821 |
| Total Mutual Funds (Cost $328,819) |  | 507459 |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 597055 | 597 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 4.017% due 10/21/2025 - 12/11/2025 (a)(b) | $266 | 264 |
| Total Short-Term Instruments (Cost $861) |  | 861 |
| Total Investments in Securities (Cost $329,680) |  | 508320 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 19.0%**  |  |  |
| **MUTUAL FUNDS (c)14.5%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 1438252 | 8975 |
| **PIMCO High Yield Fund**  | 20713 | 169 |
| **PIMCO Income Fund**  | 914339 | 9948 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 430285 | 4268 |
| **PIMCO Long-Term Real Return Fund**  | 1325679 | 15656 |
| **PIMCO Long-Term U.S. Government Fund**  | 1103741 | 15629 |
| **PIMCO Real Return Fund**  | 1214368 | 12690 |
| **PIMCO Total Return Fund**  | 2565159 | 22599 |
| Total Mutual Funds (Cost $93,055) |  | 89934 |
| **SHORT-TERM INSTRUMENTS 4.5%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.5%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 2845610 | 27714 |
| Total Short-Term Instruments (Cost $27,682) |  | 27714 |
| Total Investments in Affiliates (Cost $120,737) |  | 117648 |
| Total Investments 100.7% (Cost $450,417) |  | $625968 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $0) |  | (28) |
| Other Assets and Liabilities, net (0.7)% |  | (4115) |
| Net Assets 100.0% |  | $621825 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2045 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(b)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 16371 | 4.02 | Monthly | 02/17/2026 | $8599 | $(10) | (10) | $0 | $(10) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 261 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 6701 | 49 | 49 | 49 | 0 |
|  |  | FNRETR Index  | 329 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 8542 | (34) | (34) | 0 | (34) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 33 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 857 | (3) | (3) | 0 | (3) |
|  |  | FNRETR Index  | 279 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 7244 | (28) | (28) | 0 | (28) |
|  |  | FNRETR Index  | 14 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 363 | (2) | (2) | 0 | (2) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(28)** | **(28)** | $**49** | $**(77)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $507459 | 507459 | $0 | 0 | $ | 507459 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 597 | 0 |  | 597 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 264 | 0 |  | 264 |  |
|  |  |  |  |  | $507459 | 507459 | $861 | 0 | $ | 508320 |  |
| **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** | **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** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 89934 | 89934 | 0 | 0 |  | 89934 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 27714 | 27714 | 0 | 0 |  | 27714 |  |
|  |  |  |  |  | $117648 | 117648 | $0 | 0 | $ | 117648 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $625107 | 625107 | $861 | 0 | $ | 625968 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $49 | 0 | $ | 49 |  |
| **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 | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(77) | 0 | $ | (77) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(28) | 0 | $ | (28) |  |
| Totals | Totals | Totals | Totals | Totals | $625107 | 625107 | $833 | 0 | $ | 625940 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2050 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 86.8% ¤** |  |  |
| **MUTUAL FUNDS 86.7%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 4833266 | $146013 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 1403225 | 47864 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 529247 | 287762 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 164940 | 20089 |
| Total Mutual Funds (Cost $319,770) |  | 501728 |
| **SHORT-TERM INSTRUMENTS 0.1%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(b) | 561013 | 561 |
| Total Short-Term Instruments (Cost $561) |  | 561 |
| Total Investments in Securities (Cost $320,331) |  | 502289 |
| **INVESTMENTS IN AFFILIATES 13.7%**  |  |  |
| **MUTUAL FUNDS (a) 8.6%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 512431 | 3198 |
| **PIMCO Income Fund**  | 529992 | 5766 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 246225 | 2443 |
| **PIMCO Long-Term Real Return Fund**  | 694697 | 8204 |
| **PIMCO Long-Term U.S. Government Fund**  | 648767 | 9187 |
| **PIMCO Real Return Fund**  | 722784 | 7553 |
| **PIMCO Total Return Fund**  | 1527052 | 13453 |
| Total Mutual Funds (Cost $52,403) |  | 49804 |
| **SHORT-TERM INSTRUMENTS 5.1%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.1%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3020854 | 29420 |
| Total Short-Term Instruments (Cost $29,391) |  | 29420 |
| Total Investments in Affiliates (Cost $81,794) |  | 79224 |
| Total Investments 100.5% (Cost $402,125) |  | $581513 |
| **Financial Derivative Instruments (c) (0.0)**%(Cost or Premiums, net $0) |  | (56) |
| Other Assets and Liabilities, net (0.5)% |  | (2652) |
| Net Assets 100.0% |  | $578805 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2050 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(c)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 14348 | 4.02 | Monthly | 02/17/2026 | $7536 | 0 | $(9) | (9) | $0 | $(9) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 144 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 3697 | 0 | 27 | 27 | 27 | 0 |
|  |  | FNRETR Index  | 357 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 9269 | 0 | (37) | (37) | 0 | (37) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 39 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 1013 | 0 | (4) | (4) | 0 | (4) |
|  |  | FNRETR Index  | 308 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 7996 | 0 | (31) | (31) | 0 | (31) |
|  |  | FNRETR Index  | 21 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 545 | 0 | (2) | (2) | 0 | (2) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **0** | $**(56)** | **(56)** | $**27** | $**(83)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $501728 | 501728 | $0 | $0 | 0 | $ | 501728 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 561 | 0 | 0 |  | 561 |  |
|  |  |  |  |  | $501728 | 501728 | $561 | $0 | 0 | $ | 502289 |  |
| **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** | **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** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 49804 | 49804 | 0 | 0 | 0 |  | 49804 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 29420 | 29420 | 0 | 0 | 0 |  | 29420 |  |
|  |  |  |  |  | $79224 | 79224 | $0 | $0 | 0 | $ | 79224 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $580952 | 580952 | $561 | $0 | 0 | $ | 581513 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $27 | $0 | 0 | $ | 27 |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(83) | $0 | 0 | $ | (83) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(56) | $0 | 0 | $ | (56) |  |
| Totals | Totals | Totals | Totals | Totals | $580952 | 580952 | $505 | $0 | 0 | $ | 581457 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2055 Fund September 30, 2025 (Unaudited)

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| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 90.1% ¤** |  |  |
| **MUTUAL FUNDS 90.1%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 4192777 | $126664 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 1275055 | 43492 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 466337 | 253557 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 162944 | 19846 |
| Total Mutual Funds (Cost $296,595) |  | 443559 |
| **SHORT-TERM INSTRUMENTS 0.0%**  |  |  |
| **MUTUAL FUNDS 0.0%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 77817 | 78 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.0%**  |  |  |
| 4.318% due 10/21/2025 (a)(b) | $8 | 8 |
| Total Short-Term Instruments (Cost $86) |  | 86 |
| Total Investments in Securities (Cost $296,681) |  | 443645 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 10.5%**  |  |  |
| **MUTUAL FUNDS (c) 6.0%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 244141 | 1523 |
| **PIMCO Income Fund**  | 325358 | 3540 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 113499 | 1126 |
| **PIMCO Long-Term Real Return Fund**  | 417709 | 4933 |
| **PIMCO Long-Term U.S. Government Fund**  | 319543 | 4525 |
| **PIMCO Real Return Fund**  | 539340 | 5636 |
| **PIMCO Total Return Fund**  | 954551 | 8410 |
| Total Mutual Funds (Cost $30,836) |  | 29693 |
| **SHORT-TERM INSTRUMENTS 4.5%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.5%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 2250546 | 21918 |
| Total Short-Term Instruments (Cost $21,891) |  | 21918 |
| Total Investments in Affiliates (Cost $52,727) |  | 51611 |
| Total Investments 100.6% (Cost $349,408) |  | $495256 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $0) |  | (50) |
| Other Assets and Liabilities, net (0.6)% |  | (2681) |
| Net Assets 100.0% |  | $492525 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2055 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 11271 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $5920 | $(7) | (7) | $0 | $(7) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 125 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 3209 | 23 | 23 | 23 | 0 |
|  |  | FNRETR Index  | 320 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 8308 | (33) | (33) | 0 | (33) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 18 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 467 | (2) | (2) | 0 | (2) |
|  |  | FNRETR Index  | 279 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 7244 | (28) | (28) | 0 | (28) |
|  |  | FNRETR Index  | 26 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 675 | (3) | (3) | 0 | (3) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(50)** | **(50)** | $**23** | $**(73)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $443559 | 443559 | $0 | 0 | $ | 443559 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 78 | 0 |  | 78 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 8 | 0 |  | 8 |  |
|  |  |  |  |  | $443559 | 443559 | $86 | 0 | $ | 443645 |  |
| **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** | **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** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 29693 | 29693 | 0 | 0 |  | 29693 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 21918 | 21918 | 0 | 0 |  | 21918 |  |
|  |  |  |  |  | $51611 | 51611 | $0 | 0 | $ | 51611 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $495170 | 495170 | $86 | 0 | $ | 495256 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $23 | 0 | $ | 23 |  |
| **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 | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(73) | 0 | $ | (73) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(50) | 0 | $ | (50) |  |
| Totals | Totals | Totals | Totals | Totals | $495170 | 495170 | $36 | 0 | $ | 495206 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2060 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 90.6% ¤** |  |  |
| **MUTUAL FUNDS 90.4%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 2940658 | $56843 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 580824 | 19812 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 219383 | 119283 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 77675 | 9460 |
| Total Mutual Funds (Cost $150,059) |  | 205398 |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.2%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(b) | 332832 | 333 |
| Total Short-Term Instruments (Cost $333) |  | 333 |
| Total Investments in Securities (Cost $150,392) |  | 205731 |
| **INVESTMENTS IN AFFILIATES 9.8%**  |  |  |
| **MUTUAL FUNDS (a)4.9%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 111934 | 698 |
| **PIMCO Income Fund**  | 108710 | 1183 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 25532 | 253 |
| **PIMCO Long-Term Real Return Fund**  | 148743 | 1757 |
| **PIMCO Long-Term U.S. Government Fund**  | 121855 | 1726 |
| **PIMCO Real Return Fund**  | 231355 | 2418 |
| **PIMCO Total Return Fund**  | 330326 | 2910 |
| Total Mutual Funds (Cost $10,872) |  | 10945 |
| **SHORT-TERM INSTRUMENTS 4.9%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.9%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 1150764 | 11207 |
| Total Short-Term Instruments (Cost $11,200) |  | 11207 |
| Total Investments in Affiliates (Cost $22,072) |  | 22152 |
| Total Investments 100.4% (Cost $172,464) |  | $227883 |
| **Financial Derivative Instruments (c) (0.0)**%(Cost or Premiums, net $0) |  | (12) |
| Other Assets and Liabilities, net (0.4)% |  | (924) |
| Net Assets 100.0% |  | $226947 |

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<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2060 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(c)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 4913 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $2580 | 0 | $(3) | (3) | $0 | $(3) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 93 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 2388 | 0 | 17 | 17 | 17 | 0 |
|  |  | FNRETR Index  | 141 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 3661 | 0 | (15) | (15) | 0 | (15) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 3 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 78 | 0 | 0 | 0 | 0 | 0 |
|  |  | FNRETR Index  | 103 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 2674 | 0 | (10) | (10) | 0 | (10) |
|  |  | FNRETR Index  | 5 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 130 | 0 | (1) | (1) | 0 | (1) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **0** | $**(12)** | **(12)** | $**17** | $**(29)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $205398 | 205398 | $0 | $0 | 0 | $ | 205398 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 333 | 0 | 0 |  | 333 |  |
|  |  |  |  |  | $205398 | 205398 | $333 | $0 | 0 | $ | 205731 |  |
| **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** | **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** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 10945 | 10945 | 0 | 0 | 0 |  | 10945 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 11207 | 11207 | 0 | 0 | 0 |  | 11207 |  |
|  |  |  |  |  | $22152 | 22152 | $0 | $0 | 0 | $ | 22152 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $227550 | 227550 | $333 | $0 | 0 | $ | 227883 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $17 | $0 | 0 | $ | 17 |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(29) | $0 | 0 | $ | (29) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(12) | $0 | 0 | $ | (12) |  |
| Totals | Totals | Totals | Totals | Totals | $227550 | 227550 | $321 | $0 | 0 | $ | 227871 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

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<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2065 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 91.3% ¤** |  |  |
| **MUTUAL FUNDS 90.9%** |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 667922 | $12911 |
| **Vanguard Emerging Markets Stock Index Fund 'Admiral'** | 100311 | 4500 |
| **Vanguard Institutional Index Fund 'Institutional'** | 50508 | 27463 |
| **Vanguard Small-Cap Index Fund 'Admiral'** | 18677 | 2275 |
| Total Mutual Funds (Cost $38,649) |  | 47149 |
| **SHORT-TERM INSTRUMENTS 0.4%**  |  |  |
| **MUTUAL FUNDS 0.4%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(b) | 196252 | 196 |
| Total Short-Term Instruments (Cost $196) |  | 196 |
| Total Investments in Securities (Cost $38,845) |  | 47345 |
| **INVESTMENTS IN AFFILIATES 8.9%**  |  |  |
| **MUTUAL FUNDS (a) 3.8%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 24102 | 150 |
| **PIMCO Income Fund**  | 13646 | 148 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 3833 | 38 |
| **PIMCO Long-Term Real Return Fund**  | 32908 | 389 |
| **PIMCO Long-Term U.S. Government Fund**  | 26389 | 374 |
| **PIMCO Real Return Fund**  | 51020 | 533 |
| **PIMCO Total Return Fund**  | 42454 | 374 |
| Total Mutual Funds (Cost $1,954) |  | 2006 |
| **SHORT-TERM INSTRUMENTS 5.1%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.1%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 269950 | 2629 |
| Total Short-Term Instruments (Cost $2,629) |  | 2629 |
| Total Investments in Affiliates (Cost $4,583) |  | 4635 |
| Total Investments 100.2% (Cost $43,428) |  | $51980 |
| **Financial Derivative Instruments (c) 0.0**%(Cost or Premiums, net $0) |  | 1 |
| Other Assets and Liabilities, net (0.2)% |  | (102) |
| Net Assets 100.0% |  | $51879 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2065 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(b)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(c)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 917 | &nbsp;&nbsp; 4.020% | Monthly | 02/17/2026 | $482 | 0 | $(1) | (1) | $0 | $(1) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 33 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 847 | 0 | 6 | 6 | 6 | 0 |
|  |  | FNRETR Index  | 24 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 623 | 0 | (2) | (2) | 0 | (2) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | FNRETR Index  | 6 | &nbsp;&nbsp; 4.770% (SOFR plus a specified spread) | Monthly | 11/05/2025 | 156 | 0 | (1) | (1) | 0 | (1) |
|  |  | FNRETR Index  | 10 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 259 | 0 | (1) | (1) | 0 | (1) |
|  |  | FNRETR Index  | 4 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 104 | 0 | 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** | **0** | $**1** | **1** | $**6** | $**(5)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $47149 | 47149 | $0 | $0 | 0 | $ | 47149 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 196 | 0 | 0 |  | 196 |  |
|  |  |  |  |  | $47149 | 47149 | $196 | $0 | 0 | $ | 47345 |  |
| **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** | **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** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 2006 | 2006 | 0 | 0 | 0 |  | 2006 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 2629 | 2629 | 0 | 0 | 0 |  | 2629 |  |
|  |  |  |  |  | $4635 | 4635 | $0 | $0 | 0 | $ | 4635 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $51784 | 51784 | $196 | $0 | 0 | $ | 51980 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $6 | $0 | 0 | $ | 6 |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $(5) | $0 | 0 | $ | (5) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $1 | $0 | 0 | $ | 1 |  |
| Totals | Totals | Totals | Totals | Totals | $51784 | 51784 | $197 | $0 | 0 | $ | 51981 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2070 Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 90.0% ¤** |  |  |
| **MUTUAL FUNDS 90.0%** |  |  |
| **Vanguard Developed Markets Index Fund 'Admiral'** | 52149 | $1007 |
| **Vanguard Emerging Markets Stock Index Fund 'Admiral'** | 7821 | 351 |
| **Vanguard S&P 500 ETF** | 3485 | 2134 |
| **Vanguard Small-Cap Index Fund 'Admiral'** | 1456 | 177 |
| Total Mutual Funds (Cost $3,207) |  | 3669 |
| Total Investments in Securities (Cost $3,207) |  | 3669 |
| **INVESTMENTS IN AFFILIATES 6.6%**  |  |  |
| **MUTUAL FUNDS (a) 3.9%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 1701 | 11 |
| **PIMCO Income Fund**  | 1143 | 12 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 417 | 4 |
| **PIMCO Long-Term Real Return Fund**  | 2440 | 29 |
| **PIMCO Long-Term U.S. Government Fund**  | 1946 | 28 |
| **PIMCO Real Return Fund**  | 4066 | 42 |
| **PIMCO Total Return Fund**  | 3162 | 28 |
| Total Mutual Funds (Cost $149) |  | 154 |
| **SHORT-TERM INSTRUMENTS 2.7%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 2.7%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 11439 | 111 |
| Total Short-Term Instruments (Cost $111) |  | 111 |
| Total Investments in Affiliates (Cost $260) |  | 265 |
| Total Investments 96.6% (Cost $3,467) |  | $3934 |
| **Financial Derivative Instruments (b) (0.0)**%(Cost or Premiums, net $0) |  | (1) |
| Other Assets and Liabilities, net 3.4% |  | 138 |
| Net Assets 100.0% |  | $4071 |

---

------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend 2070 Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(b)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | Underlying<br>Reference | # of Units | &nbsp;&nbsp; Financing Rate | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | BERYTR Index  | 12 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 0.000% | Monthly | 02/17/2026 | $6 | $0 | 0 | $0 | $0 |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | FNRETR Index  | 5 | &nbsp;&nbsp; 25962.590% | &nbsp;&nbsp; 25962.590% | Monthly | 11/05/2025 | 130 | (1) | (1) | 0 | (1) |
|  |  | BERYTR Index  | 64 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 0.000% | Monthly | 02/17/2026 | 34 | 0 | 0 | 0 | 0 |
|  |  | FNRETR Index  | 1 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 26 | 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** | **Total Swap Agreements** | $**(1)** | **(1)** | $**0** | $**(1)** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** | **Investments in Securities, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $ | $3669 | 3669 | $0 | 0 | $ | 3669 |  |
|  |  |  |  |  | $ | $3669 | 3669 | $0 | 0 | $ | 3669 |  |
| **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** | **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** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds |  | 154 | 154 | 0 | 0 |  | 154 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes |  | 111 | 111 | 0 | 0 |  | 111 |  |
|  |  |  |  |  | $ | $265 | 265 | $0 | 0 | $ | 265 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $ | $3934 | 3934 | $0 | 0 | $ | 3934 |  |
| **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**  | **Financial Derivative Instruments - Liabilities**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | Over the counter | $ | $0 | 0 | $(1) | 0 | $ | (1) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $ | $0 | 0 | $(1) | 0 | $ | (1) |  |
| Totals | Totals | Totals | Totals | Totals | $ | $3934 | 3934 | $(1) | 0 | $ | 3933 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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------

<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend Income Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | SHARES | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 35.4% ¤** |  |  |
| **MUTUAL FUNDS 35.2%**  |  |  |
| **Vanguard Developed Markets Index Fund 'Institutional'** | 3007367 | $58132 |
| **Vanguard Emerging Markets Stock Index Fund 'Institutional'** | 611827 | 20869 |
| **Vanguard Institutional Index Fund 'Institutional Plus'** | 281548 | 153083 |
| **Vanguard Small-Cap Index Fund 'Institutional'** | 46990 | 5724 |
| Total Mutual Funds (Cost $131,490) |  | 237808 |
| **SHORT-TERM INSTRUMENTS 0.2%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200%(d) | 532486 | 532 |
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.1%**  |  |  |
| 4.014% due 12/11/2025 (a)(b)(f) | $455 | 452 |
| Total Short-Term Instruments (Cost $984) |  | 984 |
| Total Investments in Securities (Cost $132,474) |  | 238792 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 64.8%**  |  |  |
| **MUTUAL FUNDS (c) 59.8%**  |  |  |
| **PIMCO Emerging Markets Local Currency and Bond Fund**  | 3569030 | 22271 |
| **PIMCO High Yield Fund**  | 755964 | 6169 |
| **PIMCO Income Fund**  | 6982139 | 75966 |
| **PIMCO International Bond Fund (U.S. Dollar-Hedged)**  | 1941566 | 19260 |
| **PIMCO Long-Term Real Return Fund**  | 5390949 | 63667 |
| **PIMCO Long-Term U.S. Government Fund**  | 3959627 | 56068 |
| **PIMCO Real Return Fund**  | 3886590 | 40615 |
| **PIMCO Total Return Fund**  | 13770001 | 121314 |
| Total Mutual Funds (Cost $414,756) |  | 405330 |
| **SHORT-TERM INSTRUMENTS 5.0%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 5.0%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3498738 | 34074 |
| Total Short-Term Instruments (Cost $34,050) |  | 34074 |
| Total Investments in Affiliates (Cost $448,806) |  | 439404 |
| Total Investments 100.2% (Cost $581,280) |  | $678196 |
| **Financial Derivative Instruments (e) (0.0)**%(Cost or Premiums, net $0) |  | (92) |
| Other Assets and Liabilities, net (0.2)% |  | (1137) |
| Net Assets 100.0% |  | $676967 |

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<br> Schedule of Investments PIMCO REALPATH<sup>®</sup> Blend Income Fund (Cont.) September 30, 2025 (Unaudited)

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** | **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.** |
| **(a)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(b)** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** | **Coupon represents a yield to maturity.** |
| **(c)** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** | **Institutional Class Shares of each Fund.** |
| **(d)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(e)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** | **TOTAL RETURN SWAPS ON INDEXES** |
|  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u> | <u>Swap Agreements, at Value</u> |
| &nbsp;&nbsp; Counterparty | &nbsp;&nbsp; Counterparty | # of Units | &nbsp;&nbsp; Financing Rate | Payment<br>Frequency | Maturity<br>Date | Notional<br>Amount | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Asset | Liability |
| &nbsp;&nbsp; GST | &nbsp;&nbsp; GST | 26198 | 4.02 | Monthly | 02/17/2026 | $13761 | $(16) | (16) | $0 | $(16) |
| &nbsp;&nbsp; JPM | &nbsp;&nbsp; JPM | 68 | &nbsp;&nbsp; 4.730% (SOFR plus a specified spread) | Monthly | 10/01/2025 | 1746 | 13 | 13 | 13 | 0 |
|  |  | 133 | &nbsp;&nbsp; 4.890% (SOFR plus a specified spread) | Monthly | 08/05/2026 | 3453 | (14) | (14) | 0 | (14) |
| &nbsp;&nbsp; MYI | &nbsp;&nbsp; MYI | 173 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 02/04/2026 | 4491 | (17) | (17) | 0 | (17) |
|  |  | 571 | &nbsp;&nbsp; 4.780% (SOFR plus a specified spread) | Monthly | 07/08/2026 | 14825 | (58) | (58) | 0 | (58) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | $**(92)** | **(92)** | $**13** | $**(105)** |
| **(f)** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $2 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** |
| <sup>(1)</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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | 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. | Receive represents that the Fund receives payments for any positive net return on the underlying reference. The Fund makes payments for any negative net return on such underlying reference. Pay represents that the Fund receives payments for any negative net return on the underlying reference. The Fund makes payments for any positive net return on such underlying reference. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |  |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 | Fair Value<br>at 09/30/2025 |  |
| **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** |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | $237808 | 237808 | $0 | 0 | $ | 237808 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Mutual Funds | Mutual Funds | Mutual Funds | Mutual Funds | 0 | 0 | 532 | 0 |  | 532 |  |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | 0 | 0 | 452 | 0 |  | 452 |  |
|  |  |  |  | $237808 | 237808 | $984 | 0 | $ | 238792 |  |
| **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** | **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 | Mutual Funds | Mutual Funds | Mutual Funds | 405330 | 405330 | 0 | 0 |  | 405330 |  |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |  |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | 34074 | 34074 | 0 | 0 |  | 34074 |  |
|  |  |  |  | $439404 | 439404 | $0 | 0 | $ | 439404 |  |
| Total Investments | Total Investments | Total Investments | Total Investments | $677212 | 677212 | $984 | 0 | $ | 678196 |  |
| **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**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |  |
| Over the counter | Over the counter | Over the counter | Over the counter | $0 | 0 | $13 | 0 | $ | 13 |  |
| **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 | Over the counter | Over the counter | Over the counter | $0 | 0 | $(105) | 0 | $ | (105) |  |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | 0 | $(92) | 0 | $ | (92) |  |
| Totals | Totals | Totals | Totals | $677212 | 677212 | $892 | 0 | $ | 678104 |  |
| **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** | **There were no significant transfers into or out of Level 3 during the period ended September 30, 2025.** |

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Notes to Financial Statements

**1** **. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS**

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

On each day that the New York Stock Exchange ("NYSE") is open, each Fund's shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). Information that becomes known to the 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 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 the Pacific Investment Management Company LLC ("PIMCO" or "Manager") to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange or the NYSE Close if the NYSE Close occurs before the end of trading on the foreign exchange.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (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 of Trustees 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.

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:

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Notes to Financial Statements (Cont.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

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

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

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

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

Centrally cleared swaps and over the counter swaps derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. They are valued using a broker-dealer bid quotation or on market-based prices provided by Pricing Sources (normally determined as of the NYSE Close). Centrally cleared swaps and over the counter swaps can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as the overnight index swap rate, interest rates, yield curves and credit spreads. These securities are categorized as Level 2 of the fair value hierarchy.

Proxy pricing procedures set the base price of a fixed income security and subsequently adjust the price proportionally to market value changes of a pre-determined security deemed to be comparable in duration, generally a U.S. Treasury or sovereign note based on country of issuance. The base price may be a broker-dealer quote, transaction price or an internal value as derived by analysis of market data. The base price of the security may be reset on a periodic basis based on the availability of market data and procedures approved by the Valuation Oversight Committee. Significant changes in the unobservable inputs of the proxy pricing process (the base price) would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

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

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

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

The Comparable Companies model is based on application of valuation multiples from publicly traded comparable companies to the financials of the subject company. Adjustments

------

Notes to Financial Statements (Cont.)

may be made to the marketderived valuation multiples based on differences between the comparable companies and the subject company. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Option Pricing Model is a commonly accepted method of allocating enterprise value across a capital structure. The method may be utilized when a capital structure includes multiple instruments with varying rights and preferences, there is no short term exit horizon, the nature of an exit event is unknown, or if the enterprise value is not sufficient to cover outstanding debt and preferred claims. The Option Pricing Model can also be used as a method to estimate enterprise value by 'backsolving' if there are recent indicative transactions for securities with the same issuer. The Option Pricing Model uses Black-Scholes option pricing, a generally accepted option model typically used to value call options, puts, warrants, and convertible preferred securities. Significant changes in unobservable inputs would result in direct changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

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

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

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

**2. FEDERAL INCOME TAX MATTERS**

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 September 30, 2025, the Funds have recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in future tax returns.

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

**3. INVESTMENTS IN AFFILIATES**

Each Fund eligible to participate in securities lending may invest the cash collateral received for securities out on loan in the PIMCO Government Money Market Fund under the Securities Lending Agreement. PIMCO Government Money Market Fund is considered to be affiliated with the Funds. A copy of each affiliate fund's shareholder report is available at the U.S. Securities and Exchange Commission ("SEC") website at www.sec.gov, on the Funds' website at http://www.pimco.com, or upon request, as applicable. The table below shows the Funds' transactions in and earnings from investments in the affiliated fund for the period ended September 30, 2025 (amounts in thousands<sup>†</sup>):

**Investments in PIMCO Government Money Market Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO RAE Emerging Markets Fund | $11572 | $72169 | $(62084) | $0 | $0 | $21657 | $(956) | $0 |
| PIMCO RAE International Fund | 17425 | 63144 | (56743) | 0 | 0 | 23826 | (1037) | 0 |
| PIMCO RAE US Fund | 22393 | 46798 | (37926) | 0 | 0 | 31265 | (920) | 0 |
| PIMCO RAE US Small Fund | 30855 | 202836 | (139485) | 0 | 0 | 94206 | (1730) | 0 |
| PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 9 | 0 | 0 | 0 | 0 | 9 | 0 | 0 |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than one thousand.

<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.

The PIMCO RAE Global and PIMCO RAE Global ex-US Funds may invest in Institutional Class shares of the Underlying PIMCO Funds and may also invest in other affiliated funds, and unaffiliated funds, which may or may not be registered under the Act (together with the Underlying Funds, "Acquired Funds"). The Underlying Funds are considered to be affiliated with the PIMCO RAE Global and PIMCO RAE Global ex-US Funds. The table below shows the transactions in and earnings from investments in the Underlying Funds for the period ended September 30, 2025 (amounts in thousands<sup>†</sup>):

**PIMCO RAE Global ex-US Fund**

------

Notes to Financial Statements (Cont.)

**PIMCO RAE Global ex-US Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying** **PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO RAE Emerging Markets Fund | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29618  | $&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;&nbsp;&nbsp;&nbsp;&nbsp;668  | $&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;&nbsp;&nbsp;&nbsp;&nbsp;(219) | $&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;18  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31416  | $0 | $0 |
| PIMCO RAE International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83838  | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4713  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87144  | 0 | 0 |
| **Totals** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**113456**  | $&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;&nbsp;&nbsp;&nbsp;&nbsp;**693**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1603)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(30)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6044**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**118560**  | $**0** | $**0** |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than one thousand.

<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, unless otherwise advise on IRS Form 1099-DIV.

The PIMCO REALPATH<sup>®</sup> Blend Funds seek to achieve its investment objective by investing under normal circumstances substantially all of its assets in Institutional Class or Class M shares of any funds of the Trust and PIMCO Funds, and in other affiliated funds, including funds of PIMCO ETF Trust, except funds of funds ("Underlying PIMCO Funds"), and unaffiliated funds that are registered under the Act (collectively, "Acquired Funds"). The Underlying PIMCO Funds are considered to be affiliated with the Funds. Each Fund may invest in the PIMCO Short Asset Portfolio and the PIMCO Short-Term Floating NAV Portfolio III ("Central Funds") to the extent permitted by the Act, rules thereunder or exemptive relief therefrom. The Central Funds are registered investment companies created for use solely by the series of the Trust and other series of registered investment companies advised by the Adviser, in connection with their cash management activities. The main investments of the Central Funds are money market and short maturity fixed income instruments. The Central Funds may incur expenses related to their investment activities, but do not pay Investment Advisory Fees or Supervisory and Administrative Fees to the Adviser. The Central Funds are considered to be affiliated with the Funds. The tables below show the Funds' transactions in and earnings from investments in Underlying PIMCO Funds or Central Funds for the period ended September 30, 2025 (amounts in thousands<sup>†</sup>):

**PIMCO REALPATH**<sup>®</sup> **Blend 2030 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15733  | $&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;884  | $&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;(336) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16550  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293  | $0 |
| PIMCO High Yield Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4092  | &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;&nbsp;&nbsp;&nbsp;&nbsp;66  | 0  | 0 | &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;26  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4184  | &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;66  | 0 |
| PIMCO Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43990  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973  | &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;(358) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46069  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686  | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10770  | &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;118  | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10866  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118  | 0 |
| PIMCO Long-Term Real Return Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52134  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385  | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55591  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701  | 0 |
| PIMCO Long-Term U.S. Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47392  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979  | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50318  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468  | 0 |
| PIMCO Real Return Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28506  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071  | &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;(331) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29703  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260  | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27716  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23400) | &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;&nbsp;&nbsp;&nbsp;&nbsp;4  | &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;&nbsp;&nbsp;&nbsp;&nbsp;3  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30957  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317  | 0 |
| PIMCO Total Return Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64071  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785  | &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;(491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67366  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748  | 0 |
| **Totals** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**293322**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38977**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24916)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(163)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4384**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**311604**  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3657**  | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2035 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $13741 | $253 | $0 | $0 | $227 | $14221 | $252 | $0 |
| PIMCO High Yield Fund | 3225 | 52 | 0 | 0 | 20 | 3297 | 52 | 0 |
| PIMCO Income Fund | 36738 | 1466 | 0 | 0 | 386 | 38590 | 572 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 7935 | 434 | 0 | 0 | (16) | 8353 | 88 | 0 |
| PIMCO Long-Term Real Return Fund | 43106 | 1765 | 0 | 0 | 878 | 45749 | 579 | 0 |
| PIMCO Long-Term U.S. Government Fund | 37562 | 1386 | 0 | 0 | 745 | 39693 | 370 | 0 |
| PIMCO Real Return Fund | 23935 | 782 | 0 | 0 | 381 | 25098 | 218 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 34238 | 22136 | (22900) | 2 | 4 | 33480 | 336 | 0 |

---

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PIMCO Total Return Fund | 54987 | 2117 | (426) | (70) | 925 | 57533 | 640 | 0 |
| **Totals** | $**255467** | $**30391** | $**(23326)** | $**(68)** | $**3550** | $**266014** | $**3107** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2040 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $9996 | $630 | $0 | $0 | $171 | $10797 | $187 | $0 |
| PIMCO High Yield Fund | 1526 | 24 | 0 | 0 | 10 | 1560 | 25 | 0 |
| PIMCO Income Fund | 21726 | 878 | 0 | 0 | 228 | 22832 | 338 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 5995 | 513 | 0 | 0 | (11) | 6497 | 68 | 0 |
| PIMCO Long-Term Real Return Fund | 27713 | 1482 | 0 | 0 | 578 | 29773 | 374 | 0 |
| PIMCO Long-Term U.S. Government Fund | 19971 | 731 | 0 | 0 | 396 | 21098 | 197 | 0 |
| PIMCO Real Return Fund | 15071 | 598 | 0 | 0 | 241 | 15910 | 137 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 32809 | 27822 | (31300) | 3 | 2 | 29336 | 322 | 0 |
| PIMCO Total Return Fund | 33840 | 1733 | 0 | 0 | 531 | 36104 | 397 | 0 |
| **Totals** | $**168647** | $**34411** | $**(31300)** | $**3** | $**2146** | $**173907** | $**2045** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2045 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $8185 | $647 | $0 | $0 | $143 | $8975 | $154 | $0 |
| PIMCO High Yield Fund | 165 | 3 | 0 | 0 | 1 | 169 | 3 | 0 |
| PIMCO Income Fund | 9699 | 149 | 0 | 0 | 100 | 9948 | 149 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 4230 | 46 | 0 | 0 | (8) | 4268 | 46 | 0 |
| PIMCO Long-Term Real Return Fund | 14707 | 649 | 0 | 0 | 300 | 15656 | 198 | 0 |
| PIMCO Long-Term U.S. Government Fund | 14765 | 573 | 0 | 0 | 291 | 15629 | 146 | 0 |
| PIMCO Real Return Fund | 11997 | 501 | 0 | 0 | 192 | 12690 | 109 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 29779 | 40829 | (42900) | 7 | (1) | 27714 | 329 | 0 |
| PIMCO Total Return Fund | 21360 | 907 | 0 | 0 | 332 | 22599 | 249 | 0 |
| **Totals** | $**114887** | $**44304** | $**(42900)** | $**7** | $**1350** | $**117648** | $**1383** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2050 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $3090 | $57 | $0 | $0 | $51 | $3198 | $57 | $0 |
| PIMCO Income Fund | 5622 | 86 | 0 | 0 | 58 | 5766 | 87 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 2421 | 27 | 0 | 0 | (5) | 2443 | 27 | 0 |
| PIMCO Long-Term Real Return Fund | 7946 | 105 | 0 | 0 | 153 | 8204 | 105 | 0 |
| PIMCO Long-Term U.S. Government Fund | 8931 | 87 | 0 | 0 | 169 | 9187 | 87 | 0 |
| PIMCO Real Return Fund | 7372 | 66 | 0 | 0 | 115 | 7553 | 66 | 0 |

---

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PIMCO Short-Term Floating NAV Portfolio III | 27485 | 25928 | (24000) | 2 | 5 | 29420 | 328 | 0 |
| PIMCO Total Return Fund | 13104 | 151 | 0 | 0 | 198 | 13453 | 151 | 0 |
| **Totals** | $**75971** | $**26507** | $**(24000)** | $**2** | $**744** | $**79224** | $**908** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2055 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $1472 | $27 | $0 | $0 | $24 | $1523 | $27 | $0 |
| PIMCO Income Fund | 3451 | 53 | 0 | 0 | 36 | 3540 | 53 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 1116 | 12 | 0 | 0 | (2) | 1126 | 12 | 0 |
| PIMCO Long-Term Real Return Fund | 4778 | 63 | 0 | 0 | 92 | 4933 | 63 | 0 |
| PIMCO Long-Term U.S. Government Fund | 4399 | 43 | 0 | 0 | 83 | 4525 | 43 | 0 |
| PIMCO Real Return Fund | 5249 | 302 | 0 | 0 | 85 | 5636 | 48 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 22744 | 18869 | (19700) | 5 | 0 | 21918 | 269 | 0 |
| PIMCO Total Return Fund | 8192 | 94 | 0 | 0 | 124 | 8410 | 94 | 0 |
| **Totals** | $**51401** | $**19463** | $**(19700)** | $**5** | $**442** | $**51611** | $**609** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2060 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $562 | $125 | $0 | $0 | $11 | $698 | $11 | $0 |
| PIMCO Income Fund | 1153 | 18 | 0 | 0 | 12 | 1183 | 18 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 251 | 3 | 0 | 0 | (1) | 253 | 3 | 0 |
| PIMCO Long-Term Real Return Fund | 1558 | 165 | 0 | 0 | 34 | 1757 | 21 | 0 |
| PIMCO Long-Term U.S. Government Fund | 1532 | 161 | 0 | 0 | 33 | 1726 | 15 | 0 |
| PIMCO Real Return Fund | 2245 | 137 | 0 | 0 | 36 | 2418 | 21 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 12773 | 11031 | (12600) | 2 | 1 | 11207 | 131 | 0 |
| PIMCO Total Return Fund | 2688 | 179 | 0 | 0 | 43 | 2910 | 32 | 0 |
| **Totals** | $**22762** | $**11819** | $**(12600)** | $**2** | $**169** | $**22152** | $**252** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2065 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $119 | $31 | $0 | $0 | $0 | $150 | $2 | $0 |
| PIMCO Income Fund | 114 | 33 | 0 | 0 | 1 | 148 | 2 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 38 | 0 | 0 | 0 | 0 | 38 | 0 | 0 |
| PIMCO Long-Term Real Return Fund | 293 | 89 | 0 | 0 | 7 | 389 | 4 | 0 |
| PIMCO Long-Term U.S. Government Fund | 283 | 84 | 0 | 0 | 7 | 374 | 3 | 0 |
| PIMCO Real Return Fund | 420 | 106 | 0 | 0 | 7 | 533 | 4 | 0 |

---

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PIMCO Short-Term Floating NAV Portfolio III | 2303 | 6426 | (6100) | 0 | 0 | 2629 | 26 | 0 |
| PIMCO Total Return Fund | 287 | 83 | 0 | 0 | 4 | 374 | 4 | 0 |
| **Totals** | $**3857** | $**6852** | $**(6100)** | $**0** | $**26** | $**4635** | $**45** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend 2070 Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $10 | $1 | $0 | $0 | $0 | $11 | $0 | $0 |
| PIMCO Income Fund | 10 | 2 | 0 | 0 | 0 | 12 | 0 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 4 | 0 | 0 | 0 | 0 | 4 | 0 | 0 |
| PIMCO Long-Term Real Return Fund | 25 | 3 | 0 | 0 | 1 | 29 | 0 | 0 |
| PIMCO Long-Term U.S. Government Fund | 25 | 2 | 0 | 0 | 1 | 28 | 0 | 0 |
| PIMCO Real Return Fund | 37 | 4 | 0 | 0 | 1 | 42 | 0 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 11 | 300 | (200) | 0 | 0 | 111 | 1 | 0 |
| PIMCO Total Return Fund | 23 | 5 | 0 | 0 | 0 | 28 | 0 | 0 |
| **Totals** | $**145** | $**317** | $**(200)** | $**0** | $**3** | $**265** | $**1** | $**0** |

---

**PIMCO REALPATH**<sup>®</sup> **Blend Income Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying PIMCO Funds** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Emerging Markets Local Currency and Bond Fund | $22121 | $405 | $(625) | $(41) | $411 | $22271 | $405 | $0 |
| PIMCO High Yield Fund | 6034 | 97 | 0 | 0 | 38 | 6169 | 97 | 0 |
| PIMCO Income Fund | 75788 | 1159 | (1759) | (123) | 901 | 75966 | 1159 | 0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 19089 | 209 | 0 | 0 | (38) | 19260 | 209 | 0 |
| PIMCO Long-Term Real Return Fund | 62558 | 823 | (912) | (447) | 1645 | 63667 | 826 | 0 |
| PIMCO Long-Term U.S. Government Fund | 54866 | 532 | (361) | (210) | 1241 | 56068 | 532 | 0 |
| PIMCO Real Return Fund | 40721 | 361 | (1101) | (120) | 754 | 40615 | 364 | 0 |
| PIMCO Short-Term Floating NAV Portfolio III | 34221 | 39046 | (39200) | 1 | 6 | 34074 | 345 | 0 |
| PIMCO Total Return Fund | 120547 | 1382 | (2427) | (425) | 2237 | 121314 | 1380 | 0 |
| **Totals** | $**435945** | $**44014** | $**(46385)** | $**(1365)** | $**7195** | $**439404** | $**5317** | $**0** |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than one thousand.

<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, unless otherwise advise on IRS Form 1099-DIV.

The PIMCO Dividend and Income Fund may invest in the PIMCO Short Asset Portfolio and the PIMCO Short-Term Floating NAV Portfolio III ("Central Funds") to the extent permitted by the Act, rules thereunder or exemptive relief therefrom. The Central Funds are registered investment companies created for use solely by the series of the Trust and other series of registered investment companies advised by the Adviser, in connection with their cash management activities. The main investments of the Central Funds are money market and short maturity fixed income instruments. The Central Funds may incur expenses related to their investment activities, but do not pay Investment Advisory Fees or Supervisory and Administrative Fees to the Adviser. The Central Funds are considered to be affiliated with the Fund. The table below shows the Fund's transactions in and earnings from investments in the affiliated funds for the period ended September 30, 2025 (amounts in thousands<sup>†</sup>):

**Investment in PIMCO Short-Term Floating NAV Portfolio III**

------

Notes to Financial Statements (Cont.)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| PIMCO Dividend and Income Fund | $4466 | $21956 | $(24300) | $1 | $0 | $2123 | $56 | $0 |
| PIMCO RAE Emerging Markets Fund | 4546 | 126423 | (121800) | (2) | 2 | 9169 | 122 | 0 |
| PIMCO RAE International Fund | 28143 | 15617 | (43320) | 0 | 0 | 440 | 16 | 0 |
| PIMCO RAE US Fund | 2880 | 51250 | (51100) | 1 | 0 | 3031 | 51 | 0 |
| PIMCO RAE US Small Fund | 5678 | 109073 | (106200) | 1 | 0 | 8552 | 71 | 0 |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than one thousand.

<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.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** |  | (Unaudited) |
| **Counterparty Abbreviations:** | **Counterparty Abbreviations:** |  |  |  |  |
| **AZD** | Australia and New Zealand Banking Group | **DUB** | Deutsche Bank AG | **MYC** | Morgan Stanley Capital Services LLC |
| **BOA** | Bank of America N.A. | **FAR** | Wells Fargo Bank National Association | **MYI** | Morgan Stanley & Co. International PLC |
| **BPS** | BNP Paribas S.A. | **GLM** | Goldman Sachs Bank USA | **NGF** | Nomura Global Financial Products, Inc. |
| **BRC** | Barclays Bank PLC | **GST** | Goldman Sachs International | **SCX** | Standard Chartered Bank, London |
| **BSH** | Banco Santander S.A. - New York Branch | **JPM** | JP Morgan Chase Bank N.A. | **SSB** | State Street Bank and Trust Co. |
| **CBK** | Citibank N.A. | **MBC** | HSBC Bank Plc | **UAG** | UBS AG Stamford |
| **DEU** | Deutsche Bank Securities, Inc. |  |  |  |  |
| **Currency Abbreviations:** | **Currency Abbreviations:** |  |  |  |  |
| **AUD** | Australian Dollar | **ILS** | Israeli Shekel | **PEN** | Peruvian New Sol |
| **BRL** | Brazilian Real | **INR** | Indian Rupee | **PLN** | Polish Zloty |
| **CAD** | Canadian Dollar | **JPY** | Japanese Yen | **SEK** | Swedish Krona |
| **CHF** | Swiss Franc | **KRW** | South Korean Won | **SGD** | Singapore Dollar |
| **CLP** | Chilean Peso | **KWD** | Kuwaiti Dinar | **THB** | Thai Baht |
| **CNH** | Chinese Renminbi (Offshore) | **MXN** | Mexican Peso | **TRY** | Turkish New Lira |
| **EGP** | Egyptian Pound | **NGN** | Nigerian Naira | **TWD** | Taiwanese Dollar |
| **EUR** | Euro | **NOK** | Norwegian Krone | **USD (or $)** | United States Dollar |
| **GBP** | British Pound | **NZD** | New Zealand Dollar | **ZAR** | South African Rand |
| **IDR** | Indonesian Rupiah |  |  |  |  |
| **Index/Spread Abbreviations:** | **Index/Spread Abbreviations:** |  |  |  |  |
| **BERYTR** | Bloomberg Enhanced Roll Yield Total Return Index | **CDX.HY** | Credit Derivatives Index - High Yield | **SOFR** | Secured Overnight Financing Rate |
| **BISTREFI** | Turkish Lira Overnight Reference Rate | **CDX.IG** | Credit Derivatives Index - Investment Grade | **SONIO** | Sterling Overnight Interbank Average Rate |
| **Bobl** | Bundesobligation, the German word for federal government bond | **CMBX** | Commercial Mortgage-Backed Index | **TSFR1M** | Term SOFR 1-Month |
| **BP0003M** | 3 Month GBP-LIBOR | **FNRETR** | FTSE Nareit Equity REITs Total Return Index | **TSFR3M** | Term SOFR 3-Month |
| **CAONREPO** | Canadian Overnight Repo Rate Average | **MUTKCALM** | Tokyo Overnight Average Rate | **UKRPI** | United Kingdom Retail Prices Index |
| **CDX.EM** | Credit Derivatives Index - Emerging Markets | **S&P 500** | Standard & Poor's 500 Index |  |  |
| **Other Abbreviations:** | **Other Abbreviations:** |  |  |  |  |
| **ABS** | Asset-Backed Security | **CMBS** | Collateralized Mortgage-Backed Security | **OIS** | Overnight Index Swap |
| **ADR** | American Depositary Receipt | **DAC** | Designated Activity Company | **PIK** | Payment-in-Kind |
| **BABs** | Build America Bonds | **EBITDA** | Earnings before Interest, Taxes, Depreciation and Amoritization | **REIT** | Real Estate Investment Trust |
| **BBR** | Bank Bill Rate | **EURIBOR** | Euro Interbank Offered Rate | **TBA** | To-Be-Announced |
| **BBSW** | Bank Bill Swap Reference Rate | **JIBAR** | Johannesburg Interbank Agreed Rate | **TBD** | To-Be-Determined |
| **BRL-CDI** | Brazil Interbank Deposit Rate | **JSC** | Joint Stock Company | **TBD%** | Interest rate to be determined when loan settles or at the time of funding |
| **CHILIBOR** | Chile Interbank Offered Rate | **Lunar** | Monthly payment based on 28-day periods. One <br> year consists of 13 periods. | **TIIE** | Tasa de Interés Interbancaria de Equilibrio "Equilibrium Interbank Interest Rate" |
| **CLO** | Collateralized Loan Obligation | **MSCI** | Morgan Stanley Capital International |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** PIMCO Equity Series

- **b. Investment Company Act file number:** 811-22375

- **c. CIK number of Registrant:** 0001479360

- **d. LEI of Registrant:** 549300ZSNZVZHKC5OG19

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 650 Newport Center Drive

  - **City:** Newport Beach

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92660

  - **Telephone number:** (888) 877-4626

**Item A.2. Information about the Series.**

- **a. Name of Series:** PIMCO RAFI ESG U.S. ETF

- **b. EDGAR series identifier (if any):** S000066985

- **c. LEI of Series:** 5493006GPXTGWIXPFE97

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $99786218.33

**Total Liabilities:** $22956.87

**Net Assets:** $99763261.46

**Cash Not Reported:** $363191.79

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000215599 | -0.27%               | 4.36%                | 3.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $24249.21                | $-424917.03                                |
| Month 2  | $0.00                    | $3832204.15                                |
| Month 3  | $2442641.87              | $447135.28                                 |

**Designated Index Information**

- **Index Name:** RAFI ESG US Index

- **Index Identifier:** RAESGUST

### Schedule of Portfolio Investments

| Name                                                        | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEWMONT CORPORATION                                         | NEWMONT CORP COMMON STOCK USD1.6                   | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      1774 | NS      | $149565.94    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC                                        | KEURIG DR PEPPER INC COMMON STOCK USD.01           | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      2085 | NS      | $53188.35     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC                                              | CBRE GROUP INC   A COMMON STOCK USD.01             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      1791 | NS      | $282189.96    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBOTT LABORATORIES                                         | ABBOTT LABORATORIES COMMON STOCK                   | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      8510 | NS      | $1139829.40   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL TECHNOLOGIES INC                                       | DELL TECHNOLOGIES  C COMMON STOCK                  | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      1210 | NS      | $171541.70    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING INC                                           | OWENS CORNING COMMON STOCK USD.001                 | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |       920 | NS      | $130143.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                      | LUMEN TECHNOLOGIES INC COMMON STOCK USD1.0         | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |     25871 | NS      | $158330.52    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                    | AMERICAN EXPRESS CO COMMON STOCK USD.2             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1387 | NS      | $460705.92    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC                                           | NEWELL BRANDS INC COMMON STOCK USD1.0              | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |      7834 | NS      | $41050.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                      | MARVELL TECHNOLOGY INC COMMON STOCK USD.002        | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1861 | NS      | $156454.27    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CONAGRA BRANDS INC                                          | CONAGRA BRANDS INC COMMON STOCK USD5.0             | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |      5855 | NS      | $107205.05    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE`S COMPANIES INC                                        | LOWE S COS INC COMMON STOCK USD.5                  | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      3282 | NS      | $824799.42    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NASDAQ INC (AKA: NASDAQ OMX GROUP INC)                      | NASDAQ INC COMMON STOCK USD.01                     | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |       288 | NS      | $25473.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                    | BAXTER INTERNATIONAL INC COMMON STOCK USD1.0       | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      7994 | NS      | $182023.38    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORPORATION                                    | KIMCO REALTY CORP REIT USD.01                      | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |      2133 | NS      | $46606.05     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORPORATION                                  | OTIS WORLDWIDE CORP COMMON STOCK USD.01            | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      1024 | NS      | $93624.32     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VF CORPORATION                                              | VF CORP COMMON STOCK                               | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |      7871 | NS      | $113578.53    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORPORATION                                    | STATE STREET CORP COMMON STOCK USD1.0              | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      2082 | NS      | $241532.82    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL INC                                    | AMERIPRISE FINANCIAL INC COMMON STOCK USD.01       | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       110 | NS      | $54037.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT INTERNATIONAL INC                                  | MARRIOTT INTERNATIONAL  CL A COMMON STOCK USD.01   | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       552 | NS      | $143762.88    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHPEAK PROPERTIES INC                                   | HEALTHPEAK PROPERTIES INC REIT USD1.0              | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |      4080 | NS      | $78132.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORPORATION                                | LINCOLN NATIONAL CORP COMMON STOCK                 | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |       856 | NS      | $34522.48     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| INGERSOLL RAND INC                                          | INGERSOLL RAND INC COMMON STOCK USD.01             | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      1131 | NS      | $93443.22     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CORNING INCORPORATED                                        | CORNING INC COMMON STOCK USD.5                     | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      3682 | NS      | $302034.46    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                                                  | INTUIT INC COMMON STOCK USD.01                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       274 | NS      | $187117.34    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTSMAN CORPORATION                                        | HUNTSMAN CORP COMMON STOCK USD.01                  | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |      6942 | NS      | $62339.16     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MODERNA INC                                                 | MODERNA INC COMMON STOCK USD.0001                  | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |      7624 | NS      | $196927.92    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TERADYNE INC                                                | TERADYNE INC COMMON STOCK USD.125                  | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |       974 | NS      | $134061.36    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AMCOR PLC                                                   | AMCOR PLC COMMON STOCK USD.01                      | CUSIP: G0250X107<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |     13604 | NS      | $111280.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AFLAC INCORPORATED                                          | AFLAC INC COMMON STOCK USD.1                       | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      2482 | NS      | $277239.40    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWS CORPORATION                                            | NEWS CORP  CLASS A COMMON STOCK USD.01             | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |      2075 | NS      | $63723.25     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORPORATION                                  | KIMBERLY CLARK CORP COMMON STOCK USD1.25           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      1749 | NS      | $217470.66    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORPORATION                                         | DANAHER CORP COMMON STOCK USD.01                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       591 | NS      | $117171.66    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMDOCS LIMITED                                              | AMDOCS LTD COMMON STOCK GBP.0001                   | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |       812 | NS      | $66624.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL                                          | EQUITY RESIDENTIAL REIT USD.01                     | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      1743 | NS      | $112824.39    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE COMPANY                          | HEWLETT PACKARD ENTERPRISE COMMON STOCK USD.01     | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     25792 | NS      | $633451.52    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOGEN INC                                                  | BIOGEN INC COMMON STOCK USD.0005                   | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      1498 | NS      | $209839.84    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DOW INC                                                     | DOW INC COMMON STOCK USD.01                        | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     19716 | NS      | $452087.88    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                                                 | METLIFE INC COMMON STOCK USD.01                    | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      5134 | NS      | $422887.58    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDISK CORPORATION                                         | SANDISK CORP COMMON STOCK                          | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       592 | NS      | $66422.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INCORPORATED                                     | MASTERCARD INC   A COMMON STOCK USD.0001           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1262 | NS      | $717838.22    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                                                  | FISERV INC COMMON STOCK USD.01                     | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |       809 | NS      | $104304.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HENRY SCHEIN INC                                            | HENRY SCHEIN INC COMMON STOCK USD.01               | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |       498 | NS      | $33052.26     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR PRODUCTS & CHEMICAL INC                                 | AIR PRODUCTS + CHEMICALS INC COMMON STOCK USD1.0   | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       282 | NS      | $76907.04     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                                     | CRH PLC COMMON STOCK EUR.32                        | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      4332 | NS      | $519406.80    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY          | SEAGATE TECHNOLOGY HOLDINGS COMMON STOCK USD.00001 | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |      1920 | NS      | $453235.20    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                                                  | ECOLAB INC COMMON STOCK USD1.0                     | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       712 | NS      | $194988.32    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ESTEE LAUDER COMPANIES INC                                  | ESTEE LAUDER COMPANIES CL A COMMON STOCK USD.01    | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |       766 | NS      | $67499.92     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC                                         | ELECTRONIC ARTS INC COMMON STOCK USD.01            | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      1278 | NS      | $257772.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC                                        | WASTE MANAGEMENT INC COMMON STOCK USD.01           | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      1391 | NS      | $307174.53    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                    | PRUDENTIAL FINANCIAL INC COMMON STOCK USD.01       | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      2972 | NS      | $308315.28    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS INC                                           | GENERAL MILLS INC COMMON STOCK USD.1               | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |      6024 | NS      | $303730.08    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORPORATION                                          | CINTAS CORP COMMON STOCK                           | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       383 | NS      | $78614.58     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK INC                                               | BLACKROCK INC COMMON STOCK USD.01                  | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       443 | NS      | $516480.41    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINA INC                                                | ILLUMINA INC COMMON STOCK USD.01                   | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |       719 | NS      | $68283.43     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC                                  | VERIZON COMMUNICATIONS INC COMMON STOCK USD.1      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     45242 | NS      | $1988385.90   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC                                         | GLOBAL PAYMENTS INC COMMON STOCK                   | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |       933 | NS      | $77513.64     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW CORPORATION                                             | CDW CORP/DE COMMON STOCK USD.01                    | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       524 | NS      | $83462.72     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                                         | COMCAST CORP CLASS A COMMON STOCK USD.01           | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     34452 | NS      | $1082481.84   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA COLA COMPANY                                           | COCA COLA CO/THE COMMON STOCK USD.25               | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      8573 | NS      | $568561.36    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                                                | PROLOGIS INC REIT USD.01                           | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      1851 | NS      | $211976.52    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                                 | PROGRESSIVE CORP COMMON STOCK USD1.0               | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       495 | NS      | $122240.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CARRIER GLOBAL CORPORATION                                  | CARRIER GLOBAL CORP COMMON STOCK USD.01            | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |       992 | NS      | $59222.40     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORPORATION                                           | MASCO CORP COMMON STOCK USD1.0                     | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |       494 | NS      | $34772.66     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INCORPORATED                              | TEXAS INSTRUMENTS INC COMMON STOCK USD1.0          | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2951 | NS      | $542187.23    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MACYS INC                                                   | MACY S INC COMMON STOCK USD.01                     | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |      6845 | NS      | $122730.85    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA HOLDINGS INC (AKA: QUINTILES IMS HOLDINGS INC)        | IQVIA HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |        93 | NS      | $17664.42     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| XEROX HOLDINGS CORPORATION                                  | XEROX HOLDINGS CORP COMMON STOCK USD1.0            | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |      4541 | NS      | $17074.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DOVER CORPORATION                                           | DOVER CORP COMMON STOCK USD1.0                     | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |       337 | NS      | $56221.71     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HOST HOTELS & RESORTS INC                                   | HOST HOTELS + RESORTS INC REIT USD.01              | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |      4899 | NS      | $83380.98     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PUBLIC LIMITED COMPANY                            | ACCENTURE PLC CL A COMMON STOCK USD.0000225        | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |       602 | NS      | $148453.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                                          | NVIDIA CORP COMMON STOCK USD.001                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      6305 | NS      | $1176386.90   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES INC (AMD)                            | ADVANCED MICRO DEVICES COMMON STOCK USD.01         | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      3598 | NS      | $582120.42    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORPORATION                            | EDWARDS LIFESCIENCES CORP COMMON STOCK USD1.0      | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      2417 | NS      | $187970.09    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES INC                                          | PPG INDUSTRIES INC COMMON STOCK USD1.66666         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      1337 | NS      | $140532.07    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                                                 | EQUINIX INC REIT USD.001                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       208 | NS      | $162913.92    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLISLE COS INC                                            | CARLISLE COS INC COMMON STOCK USD1.0               | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |        60 | NS      | $19737.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED                                  | IRON MOUNTAIN INC REIT USD.01                      | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |       960 | NS      | $97862.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KYNDRYL HOLDINGS INC                                        | KYNDRYL HOLDINGS INC COMMON STOCK USD.01           | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |      2299 | NS      | $69038.97     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PACKAGING CORP OF AMERICA INC                               | PACKAGING CORP OF AMERICA COMMON STOCK USD.01      | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |       492 | NS      | $107221.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                                  | UNUM GROUP COMMON STOCK USD.1                      | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |       746 | NS      | $58023.88     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE & CO                                        | JPMORGAN CHASE + CO COMMON STOCK USD1.0            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      9371 | NS      | $2955894.53   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                                         | FIFTH THIRD BANCORP COMMON STOCK                   | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      1100 | NS      | $49005.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                                        | MCKESSON CORP COMMON STOCK USD.01                  | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       273 | NS      | $210903.42    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC INC                                                 | HOLOGIC INC COMMON STOCK USD.01                    | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |      1311 | NS      | $88479.39     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP (BNY MELLON)                   | BANK OF NEW YORK MELLON CORP COMMON STOCK USD.01   | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      5741 | NS      | $625539.36    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ARROW ELECTRONICS INC                                       | ARROW ELECTRONICS INC COMMON STOCK USD1.0          | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      1022 | NS      | $123662.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                                             | KLA CORP COMMON STOCK USD.001                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       244 | NS      | $263178.40    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC                                                  | HUMANA INC COMMON STOCK USD.1666666                | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1929 | NS      | $501867.93    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP/THE                                             | THE CIGNA GROUP COMMON STOCK USD.01                | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      3742 | NS      | $1078631.50   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY GLOBAL LTD                                          | LIBERTY GLOBAL LTD C COMMON STOCK USD.01           | CUSIP: G61188127<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | BM        |      5918 | NS      | $69536.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SHERWIN-WILLIAMS COMPANY                                | SHERWIN WILLIAMS CO/THE COMMON STOCK USD1.0        | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       307 | NS      | $106301.82    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM)           | INTL BUSINESS MACHINES CORP COMMON STOCK USD.2     | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4725 | NS      | $1333206.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD (AKA: FLEXTRONICS INTERNATIONAL LTD)               | FLEX LTD COMMON STOCK                              | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |      1364 | NS      | $79071.08     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC                               | HILTON WORLDWIDE HOLDINGS IN COMMON STOCK USD.01   | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       439 | NS      | $113894.16    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                                                 | CUMMINS INC COMMON STOCK USD2.5                    | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |       555 | NS      | $234415.35    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC                                | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0   | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1604 | NS      | $777972.08    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MID-AMERICA APARTMENT COMMUNITIES INC                       | MID AMERICA APARTMENT COMM REIT USD.01             | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |       367 | NS      | $51280.91     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                       | WELLS FARGO + CO COMMON STOCK USD1.666             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     14507 | NS      | $1215976.74   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES                                         | AKAMAI TECHNOLOGIES INC COMMON STOCK USD.01        | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |       425 | NS      | $32198.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS INC                                      | PALO ALTO NETWORKS INC COMMON STOCK USD.0001       | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |       274 | NS      | $55791.88     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES INC                  | FIDELITY NATIONAL INFO SERV COMMON STOCK USD.01    | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      3268 | NS      | $215491.92    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX COMPANIES INC                                           | TJX COMPANIES INC COMMON STOCK USD1.0              | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      2743 | NS      | $396473.22    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| HORMEL FOODS CORPORATION                                    | HORMEL FOODS CORP COMMON STOCK USD.01465           | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |      1380 | NS      | $34141.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                                               | ALLSTATE CORP COMMON STOCK USD.01                  | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1675 | NS      | $359538.75    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                                | BROADCOM INC COMMON STOCK                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      4282 | NS      | $1412674.62   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| KRAFT HEINZ CO                                              | KRAFT HEINZ CO/THE COMMON STOCK USD.01             | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     12060 | NS      | $314042.40    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GROUP INC                                           | OMNICOM GROUP COMMON STOCK USD.15                  | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      1129 | NS      | $92047.37     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP (AKA: AMERICAN TOWER REIT INC)          | AMERICAN TOWER CORP REIT USD.01                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      1151 | NS      | $221360.32    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNRISE COMMUNICATIONS AG                                   | SUNRISE COMMUNICAT CL A ADR                        | CUSIP: 867975104<br>LEI: 213800RS9HRGTWOGCO08 | Long             | EC               | CORP              | CH        |       913 | NS      | $53666.14     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER COMPANY                                        | WEYERHAEUSER CO REIT USD1.25                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      6782 | NS      | $168125.78    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COMPANIES INC                              | MARSH + MCLENNAN COS COMMON STOCK USD1.0           | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       422 | NS      | $85045.66     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KENVUE INC                                                  | KENVUE INC COMMON STOCK USD.01                     | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |      5736 | NS      | $93095.28     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORPORATION                                          | ORACLE CORP COMMON STOCK USD.01                    | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4836 | NS      | $1360076.64   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                                      | CVS HEALTH CORP COMMON STOCK USD.01                | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     20899 | NS      | $1575575.61   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORPORATION                                           | INTEL CORP COMMON STOCK USD.001                    | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     27070 | NS      | $908198.50    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TE CONNECTIVITY PUBLIC LIMITED COMPANY                      | TE CONNECTIVITY PLC COMMON STOCK USD.01            | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      1585 | NS      | $347955.05    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DXC TECHNOLOGY COMPANY                                      | DXC TECHNOLOGY CO COMMON STOCK USD.01              | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |      3074 | NS      | $41898.62     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EDISON INTERNATIONAL                                        | EDISON INTERNATIONAL COMMON STOCK                  | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      3982 | NS      | $220124.96    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH CORP                                                    | PVH CORP COMMON STOCK USD1.0                       | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      1076 | NS      | $90136.52     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                                                  | ZOETIS INC COMMON STOCK USD.01                     | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |       902 | NS      | $131980.64    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                                    | VISA INC CLASS A SHARES COMMON STOCK USD.0001      | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2504 | NS      | $854815.52    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                    | AGILENT TECHNOLOGIES INC COMMON STOCK USD.01       | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      1423 | NS      | $182642.05    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES INC                                   | AVALONBAY COMMUNITIES INC REIT USD.01              | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |       552 | NS      | $106629.84    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                                              | SALESFORCE INC COMMON STOCK USD.001                | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2140 | NS      | $507180.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PRINCIPAL FINANCIAL GROUP INC                               | PRINCIPAL FINANCIAL GROUP COMMON STOCK USD.01      | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |      1989 | NS      | $164907.99    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET INC                                                | FORTINET INC COMMON STOCK USD.001                  | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       743 | NS      | $62471.44     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY INC (AKA COACH INC)                                | TAPESTRY INC COMMON STOCK USD.01                   | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |      1615 | NS      | $182850.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MANPOWERGROUP INC                                           | MANPOWERGROUP INC COMMON STOCK USD.01              | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |      1717 | NS      | $65074.30     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY COMPANY                                      | TRACTOR SUPPLY COMPANY COMMON STOCK USD.008        | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |      1573 | NS      | $89456.51     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION                  | COGNIZANT TECH SOLUTIONS A COMMON STOCK USD.01     | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      4322 | NS      | $289876.54    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS INC                                                | SYNOPSYS INC COMMON STOCK USD.01                   | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       182 | NS      | $89796.98     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHER-DANIELS-MIDLAND COMPANY                              | ARCHER DANIELS MIDLAND CO COMMON STOCK             | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      7120 | NS      | $425348.80    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| JM SMUCKER CO                                               | JM SMUCKER CO/THE COMMON STOCK                     | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |       232 | NS      | $25195.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC (AKA: ADOBE SYSTEMS INC)                          | ADOBE INC COMMON STOCK USD.0001                    | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1751 | NS      | $617665.25    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PUBLIC LIMITED COMPANY                                | LINDE PLC COMMON STOCK                             | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      1674 | NS      | $795150.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| LABCORP HOLDINGS INC                                        | LABCORP HOLDINGS INC COMMON STOCK USD.1            | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1295 | NS      | $371742.70    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PARAMOUNT SKYDANCE CORPORATION                              | PARAMOUNT SKYDANCE CL B COMMON STOCK USD.001       | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |      9229 | NS      | $174612.68    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC                                                   | JABIL INC COMMON STOCK USD.001                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |       351 | NS      | $76226.67     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR TREE INC (AKA: DOLLAR TREE STORES INC)               | DOLLAR TREE INC COMMON STOCK USD.01                | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |       442 | NS      | $41711.54     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN WATER WORKS COMPANY INC                            | AMERICAN WATER WORKS CO INC COMMON STOCK USD.01    | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |       284 | NS      | $39529.96     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP INC                                                  | NETAPP INC COMMON STOCK USD.001                    | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      1423 | NS      | $168568.58    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CAMPBELLS COMPANY                                       | THE CAMPBELL S COMPANY COMMON STOCK USD.0375       | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |      1606 | NS      | $50717.48     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M COMPANY                                                  | 3M CO COMMON STOCK USD.01                          | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      3954 | NS      | $613581.72    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS                                   | REGENERON PHARMACEUTICALS COMMON STOCK USD.001     | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       641 | NS      | $360415.07    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP                                       | US FOODS HOLDING CORP COMMON STOCK USD.01          | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |       416 | NS      | $31873.92     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE & COMPANY                                             | DEERE + CO COMMON STOCK USD1.0                     | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1222 | NS      | $558771.72    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                                              | PUBLIC STORAGE REIT USD.1                          | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |       235 | NS      | $67879.75     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BORGWARNER INC                                              | BORGWARNER INC COMMON STOCK USD.01                 | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |      2547 | NS      | $111966.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                                         | GILEAD SCIENCES INC COMMON STOCK USD.001           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      7118 | NS      | $790098.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC                                                    | EBAY INC COMMON STOCK USD.001                      | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      4631 | NS      | $421189.45    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                                       | QUALCOMM INC COMMON STOCK USD.0001                 | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7910 | NS      | $1315907.60   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLVENTUM CORPORATION                                       | SOLVENTUM CORP COMMON STOCK                        | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |       392 | NS      | $28616.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                              | MORGAN STANLEY COMMON STOCK USD.01                 | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      2396 | NS      | $380868.16    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERS CORPORATION                                          | WATERS CORP COMMON STOCK USD.01                    | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |       121 | NS      | $36277.01     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC                                  | MONDELEZ INTERNATIONAL INC A COMMON STOCK          | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      7324 | NS      | $457530.28    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                                  | STERIS PLC COMMON STOCK USD75.0                    | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |       124 | NS      | $30682.56     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                                            | AGCO CORP COMMON STOCK USD.01                      | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |       955 | NS      | $102251.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GOODYEAR TIRE & RUBBER CO/THE                               | GOODYEAR TIRE + RUBBER CO COMMON STOCK             | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |      8102 | NS      | $60602.96     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                   | AMGEN INC COMMON STOCK USD.0001                    | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       754 | NS      | $212778.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE COMPANY                                    | PROCTER + GAMBLE CO/THE COMMON STOCK               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     13723 | NS      | $2108538.95   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                               | CITIGROUP INC COMMON STOCK USD.01                  | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     21178 | NS      | $2149567.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                          | FORD MOTOR CO COMMON STOCK USD.01                  | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     22074 | NS      | $264005.04    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS INC                                          | UNITED RENTALS INC COMMON STOCK USD.01             | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       145 | NS      | $138425.70    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE COMPANY                                   | COLGATE PALMOLIVE CO COMMON STOCK USD1.0           | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      3462 | NS      | $276752.28    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HARTFORD INSURANCE GROUP INC                            | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01   | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      1679 | NS      | $223961.81    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL FLAVORS & FRAGRANCES INC                      | INTL FLAVORS + FRAGRANCES COMMON STOCK USD.125     | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      1999 | NS      | $123018.46    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MOSAIC CO/THE                                               | MOSAIC CO/THE COMMON STOCK USD.01                  | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |      8038 | NS      | $278757.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HERSHEY CO                                                  | HERSHEY CO/THE COMMON STOCK USD1.0                 | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |       388 | NS      | $72575.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS COMPANY                                      | GENERAL MOTORS CO COMMON STOCK USD.01              | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     24594 | NS      | $1499496.18   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK INC                                                | AUTODESK INC COMMON STOCK USD.01                   | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |        97 | NS      | $30813.99     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ CORPORATION                                             | LKQ CORP COMMON STOCK USD.01                       | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |       946 | NS      | $28890.84     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS INC                                  | CF INDUSTRIES HOLDINGS INC COMMON STOCK USD.01     | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      1913 | NS      | $171596.10    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                                                  | VENTAS INC REIT USD.25                             | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      1991 | NS      | $139350.09    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COMPANIES INC                                     | TRAVELERS COS INC/THE COMMON STOCK                 | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       179 | NS      | $49980.38     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WW GRAINGER INC                                             | WW GRAINGER INC COMMON STOCK USD.5                 | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       118 | NS      | $112449.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WALT DISNEY COMPANY                                         | WALT DISNEY CO/THE COMMON STOCK USD.01             | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      7178 | NS      | $821881.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| STANLEY BLACK & DECKER INC                                  | STANLEY BLACK + DECKER INC COMMON STOCK USD2.5     | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      1696 | NS      | $126063.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE INC                                          | HCA HEALTHCARE INC COMMON STOCK USD.01             | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       822 | NS      | $350336.40    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| RALPH LAUREN CORPORATION                                    | RALPH LAUREN CORP COMMON STOCK USD.01              | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |       109 | NS      | $34178.04     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                                | BRISTOL MYERS SQUIBB CO COMMON STOCK USD.1         | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     28055 | NS      | $1265280.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                                       | ELI LILLY + CO COMMON STOCK                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       191 | NS      | $145733.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MOODY'S CORPORATION                                         | MOODY S CORP COMMON STOCK USD.01                   | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |       270 | NS      | $128649.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORPORATION                                           | SYSCO CORP COMMON STOCK USD1.0                     | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      2694 | NS      | $221823.96    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                     | GOLDMAN SACHS GROUP INC COMMON STOCK USD.01        | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1249 | NS      | $994641.15    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORPORATION                                        | CARNIVAL CORP COMMON STOCK USD.01                  | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |      1609 | NS      | $46516.19     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH INDUSTRIAL NV                                           | CNH INDUSTRIAL NV COMMON STOCK EUR.01              | CUSIP: N20944109<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |      8589 | NS      | $93190.65     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ON SEMICONDUCTOR CORPORATION                                | ON SEMICONDUCTOR COMMON STOCK USD.01               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      2616 | NS      | $128994.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                                                 | PAYCHEX INC COMMON STOCK USD.01                    | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |       665 | NS      | $84295.40     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DUPONT DE NEMOURS INC                                       | DUPONT DE NEMOURS INC COMMON STOCK USD.01          | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      6130 | NS      | $477527.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| T ROWE PRICE GROUP INC                                      | T ROWE PRICE GROUP INC COMMON STOCK USD.2          | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |       970 | NS      | $99560.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WHIRLPOOL CORPORATION                                       | WHIRLPOOL CORP COMMON STOCK USD1.0                 | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      1535 | NS      | $120651.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MCCORMICK & COMPANY INCORPORATED                            | MCCORMICK + CO NON VTG SHRS COMMON STOCK USD.01    | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |       468 | NS      | $31313.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CORTEVA INC                                                 | CORTEVA INC COMMON STOCK USD.01                    | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      1200 | NS      | $81156.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LEAR CORPORATION                                            | LEAR CORP COMMON STOCK USD.01                      | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       703 | NS      | $70728.83     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERPUBLIC GROUP OF COMPANIES INC                          | INTERPUBLIC GROUP OF COS INC COMMON STOCK USD.1    | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |      2891 | NS      | $80687.81     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES INC                                          | ANALOG DEVICES INC COMMON STOCK USD.167            | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      2201 | NS      | $540785.70    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORPORATION                                 | WESTERN DIGITAL CORP COMMON STOCK USD.01           | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      2726 | NS      | $327283.56    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC (AKA:  PRICELINE GROUP INC/THE)        | BOOKING HOLDINGS INC COMMON STOCK USD.008          | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        11 | NS      | $59391.97     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC                                             | GEN DIGITAL INC COMMON STOCK USD.01                | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      2587 | NS      | $73444.93     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC                                               | WELLTOWER INC REIT USD1.0                          | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |       434 | NS      | $77312.76     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                                       | APPLIED MATERIALS INC COMMON STOCK USD.01          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      4183 | NS      | $856427.42    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BALL CORPORATION                                            | BALL CORP COMMON STOCK                             | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |      2525 | NS      | $127310.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC                                                  | PFIZER INC COMMON STOCK USD.05                     | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     20322 | NS      | $517804.56    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO INC                                              | MERCK + CO. INC. COMMON STOCK USD.5                | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     21586 | NS      | $1811712.98   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CHURCH & DWIGHT INC                                         | CHURCH + DWIGHT CO INC COMMON STOCK USD1.0         | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |       671 | NS      | $58799.73     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QUEST DIAGNOSTICS INC.                                      | QUEST DIAGNOSTICS INC COMMON STOCK USD.01          | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |       156 | NS      | $29730.48     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JONES LANG LASALLE INCORPORATED                             | JONES LANG LASALLE INC COMMON STOCK USD.01         | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |       552 | NS      | $164650.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                                    | LAM RESEARCH CORP COMMON STOCK USD.001             | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      5418 | NS      | $725470.20    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS INC                                         | PAYPAL HOLDINGS INC COMMON STOCK                   | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      2767 | NS      | $185555.02    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC (AKA: HEWLETT-PACKARD CO)                            | HP INC COMMON STOCK USD.01                         | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     15605 | NS      | $424924.15    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL INC                                     | WESCO INTERNATIONAL INC COMMON STOCK USD.01        | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |       308 | NS      | $65142.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON AND COMPANY                                | BECTON DICKINSON AND CO COMMON STOCK USD1.0        | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      1742 | NS      | $326050.14    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                                          | EXELON CORP COMMON STOCK                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      4527 | NS      | $203760.27    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WORKDAY INC                                                 | WORKDAY INC CLASS A COMMON STOCK USD.001           | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       282 | NS      | $67885.86     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                                   | APPLE INC COMMON STOCK USD.00001                   | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     20631 | NS      | $5253271.53   | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                      | MOTOROLA SOLUTIONS INC COMMON STOCK USD.01         | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       273 | NS      | $124840.17    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORPORATION                                         | STRYKER CORP COMMON STOCK USD.1                    | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       478 | NS      | $176702.26    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC                              | GE HEALTHCARE TECHNOLOGY COMMON STOCK USD.01       | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      3012 | NS      | $226201.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                                                    | NIKE INC CL B COMMON STOCK                         | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      1805 | NS      | $125862.65    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VIATRIS INC                                                 | VIATRIS INC COMMON STOCK                           | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     21845 | NS      | $216265.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE INC                                   | UNITED PARCEL SERVICE CL B COMMON STOCK USD.01     | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      1011 | NS      | $84448.83     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA INC                                                 | CENCORA INC COMMON STOCK USD.01                    | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       287 | NS      | $89696.11     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                         | ELEVANCE HEALTH INC COMMON STOCK USD.01            | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      2795 | NS      | $903120.40    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORPORATION                               | BOSTON SCIENTIFIC CORP COMMON STOCK USD.01         | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      1222 | NS      | $119303.86    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL PAPER COMPANY                                 | INTERNATIONAL PAPER CO COMMON STOCK USD1.0         | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      3908 | NS      | $181331.20    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO INC                                             | BEST BUY CO INC COMMON STOCK USD.1                 | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      3915 | NS      | $296052.30    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGET CORPORATION                                          | TARGET CORP COMMON STOCK USD.0833                  | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      6455 | NS      | $579013.50    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INTERNATIONAL CORP (CCI)                       | CROWN CASTLE INC REIT USD.01                       | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      2084 | NS      | $201085.16    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORPORATION                                       | TD SYNNEX CORP COMMON STOCK USD.001                | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |       297 | NS      | $48633.75     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WABTEC CORP (AKA: WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP) | WABTEC CORP COMMON STOCK USD.01                    | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |       661 | NS      | $132510.67    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC                                       | REPUBLIC SERVICES INC COMMON STOCK USD.01          | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       273 | NS      | $62648.04     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AVNET INC                                                   | AVNET INC COMMON STOCK USD1.0                      | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |       657 | NS      | $34347.96     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                             | UNITEDHEALTH GROUP INC COMMON STOCK USD.01         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      5996 | NS      | $2070418.80   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KELLANOVA                                                   | KELLANOVA COMMON STOCK USD.25                      | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |      1320 | NS      | $108266.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                                    | AT+T INC COMMON STOCK USD1.0                       | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     77948 | NS      | $2201251.52   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPSICO INC                                                 | PEPSICO INC COMMON STOCK USD.017                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6725 | NS      | $944459.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KOHLS CORPORATION                                           | KOHLS CORP COMMON STOCK USD.01                     | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     10829 | NS      | $166441.73    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC CORPORATION                                             | FMC CORP COMMON STOCK USD.1                        | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |      1543 | NS      | $51891.09     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN TRUST CORPORATION                                  | NORTHERN TRUST CORP COMMON STOCK USD1.666666       | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |       657 | NS      | $88432.20     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON COMPANY                                   | JOHNSON + JOHNSON COMMON STOCK USD1.0              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     17822 | NS      | $3304555.24   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED                           | MICROCHIP TECHNOLOGY INC COMMON STOCK USD.001      | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      1990 | NS      | $127797.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC (AKA: MCGRAW HILL FINANCIAL INC)             | S+P GLOBAL INC COMMON STOCK USD1.0                 | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       656 | NS      | $319281.76    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL INC                                  | CHIPOTLE MEXICAN GRILL INC COMMON STOCK USD.01     | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       844 | NS      | $33076.36     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL INC                                      | INTUITIVE SURGICAL INC COMMON STOCK USD.001        | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       162 | NS      | $72451.26     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                                              | HOME DEPOT INC COMMON STOCK USD.05                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      2172 | NS      | $880072.68    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING INC                               | AUTOMATIC DATA PROCESSING COMMON STOCK USD.1       | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      1181 | NS      | $346623.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS INC                                  | CADENCE DESIGN SYS INC COMMON STOCK USD.01         | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       309 | NS      | $108539.34    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                                             | FOX CORP CLASS A COMMON STOCK USD.01               | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |       679 | NS      | $42817.74     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                                       | MICROSOFT CORP COMMON STOCK USD.00000625           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     10388 | NS      | $5380464.60   | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP INC                                           | EXPEDIA GROUP INC COMMON STOCK USD.001             | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       268 | NS      | $57285.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TWILIO INC                                                  | TWILIO INC   A COMMON STOCK USD.001                | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |       416 | NS      | $41637.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| THOR INDUSTRIES INC                                         | THOR INDUSTRIES INC COMMON STOCK USD.1             | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |       325 | NS      | $33699.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS INC                                           | CISCO SYSTEMS INC COMMON STOCK USD.001             | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     30545 | NS      | $2089888.90   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH INC                                         | CARDINAL HEALTH INC COMMON STOCK                   | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      1756 | NS      | $275621.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY       | JOHNSON CONTROLS INTERNATION COMMON STOCK USD.01   | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |      3698 | NS      | $406595.10    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GAP INC                                                     | GAP INC/THE COMMON STOCK USD.05                    | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |      3243 | NS      | $69367.77     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                                  | ABBVIE INC COMMON STOCK USD.01                     | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      7429 | NS      | $1720110.66   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC                                       | MICRON TECHNOLOGY INC COMMON STOCK USD.1           | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1603 | NS      | $268213.96    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES INC                                   | KEYSIGHT TECHNOLOGIES IN COMMON STOCK USD.01       | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |       777 | NS      | $135912.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON ENTERPRISES INC                                    | FERGUSON ENTERPRISES INC COMMON STOCK              | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |       644 | NS      | $144629.52    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** PIMCO Equity Series

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer